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
China’s CICC demotes senior bankers, cuts pay to slash costs
Paramount bidders await word from special committee evaluating options
Stocks to watch: Singtel, Venture Corp, ARA H-Trust, YHI International, LHN
Optus names National Broadband Network’s Stephen Rue as incoming chief
More than 90% of stablecoin transactions aren’t from real users, study finds
RBA to keep key rate at 12-year high as inflation stirs anew