Ezra going through a sea-change
CEO Lionel Lee maintains a composed demeanour in face of criticism of his controversial yet bold strategy for the group, reports LISA LEE
Over the past three years, profitability at Ezra Holdings has had as choppy a ride as one of its offshore support vessels caught in rough seas as management grappled with what it termed the transformational acquisition of its sub-sea business in 2010.
But Ezra's group CEO, Lionel Lee, maintains a composed demeanour in the face of criticism of his controversial yet bold strategy for the group, for which less than a handful of analysts are now rating the company as at best a "neutral" while most have rated it a "sell" or "underperform".
For one thing, the company's share price continues to defy equity analysts' low targets of between $1 and $1.30 per share, and traded to Friday's close near the year's high at $1.44. For another, Mr Lee believes most analysts nowadays have a short three to six months' view, while Ezra's subsea acquisition (now under Emas AMC) is part of management's 10-year master plan for the group.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
UBS weighs synthetic risk transfer amid capital boost proposals
Oil settles higher on supply concerns in the Mid-East, economic woes subdue gains
S-Reits falter as investors weigh possibility of zero rate cuts in 2024
CapitaLand Investment posts total revenue of S$650 million for Q1
Europe: Stoxx 600 logs best day in three months as banks shine
US: Stocks rally after strong tech results