Singapore Stock Market News

Tat Hong - No signs of recovery

StockFanatic
Publish date: Tue, 17 Nov 2015, 01:03 PM
StockFanatic
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Maintain HOLD. We maintain our neutral stance on the stock as the outlook remains uncertain. P/BV valuations are currently depressed at 0.5x and near -2SD of its 7-year mean. 2Q16 earnings disappointed, but the depressed valuations should have priced in the weak earnings. In addition, we expect the recovery in Tat Hong's earnings to be long drawn on slow mining, oil & gas development and construction activities in Australia.
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