Singapore Stock Market News

Technics Oil & Gas - Losses Widen Rapidly

StockFanatic
Publish date: Wed, 04 Dec 2013, 01:44 PM
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TGH posted a SGD8.6m loss in 4Q and a record SGD9.9m loss for FY13, below our already lowered estimates. The negative FY13 EBITDA may hamper its ability to borrow or issue notes, which is necessary to build its new capital-intensive asset-leasing business. Its core fabrication business remains weak amid a glut in global yard space and a dearth of new orders.

Maintain SELL, with lower SGD0.58 TP.
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