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Published Thu, Oct 15, 2015 · 09:50 PM

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    Offshore and Marine | Neutral

    CIMB Research, Oct 15

    Vard Holdings (Reduce, target price: S$0.35) has issued a profit warning for its earnings for Q3 2015, which will be released on Nov 11, and FY15. Vard's Brazilian operations have been struggling, especially Vard Promar which has been weighed down by delays for the LPG carriers and slow ramp-up.

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