S'pore rig owners have room to sink some more: KGI Fraser
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
Singapore
THE already dampened shares of Singapore-listed rig and offshore support vessel (OSV) owners could sink even further as their seemingly secure long-term contracts turn shaky, brokerage KGI Fraser cautioned in a report on Tuesday.
Although these offshore support companies are already trading at an average 20 per cent discount to book value, their stocks have room to fall 10-30 per cent more until they reach valuations that are closer to their global peers', said analyst Joel Ng.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Ministry of Home Affairs Permanent Secretary Pang Kin Keong to retire
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
