Brokers' take

Yangzijiang Shipbuilding | Buy (maintained) Aug 21 close: S$0.965 Target price: S$1.82 DBS Equity Research, Aug 21

During the investor conference call hosted by DBS, Yangzijiang CFO Liu Hua reassured the investment community that the chairman's assistance in an investigation is not related to the group and operations are carrying on as usual.

Executive chairman Ren Yuanlin has been the prominent figure of Yangzijiang, but his son Ren Letian succeeded him as CEO in March 2015, after having been on rotation through the various divisions of the shipyard for nearly 10 years. The shipbuilding business has done well in the past four years under his leadership, allowing the chairman to take a step back to focus on the investment segment.