Singapore Stock Market News

Vard Holdings - Three in a row

StockFanatic
Publish date: Mon, 17 Mar 2014, 11:41 AM
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■ Third contract win announcement in the week with orders for two PSVs for a new client, Mermaid Marine Australia.

■ YTD order win at about NOK5.2b, forming 41% of our FY14E expectation of NOK12.8b.

Maintain Buy, TP SGD1.07, pegged to 1.4x FY14E BVPS.
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