Brokers' take

Triyards Holdings | Hold Target price: S$0.345 March 22 close: S$0.235 OCBC Investment Research, March 22

With Ezra Holdings and its subsidiaries EMAS IT Solutions and Ezra Marine Services (Ezra Chapter 11 entities) voluntarily filing a petition for reorganisation under Chapter 11 in the US, and EMAS Chiyoda Subsea and its subsidiaries (ECS Chapter 11 entities) voluntarily filing a petition for relief under Chapter 11, Triyards Holdings has issued a statement. As at Nov 30, 2016, the aggregate amount of inter-company receivables and payables owing from the Ezra Chapter 11 entities and the ECS Chapter 11 entities to Triyards was about US$1.4 million and US$1.6 million, respectively. Triyards is also liable for up to US$30 million in a joint bank fa…