Don't bother all O&G counters. Expect more earnings downward adjustment in coming months (or years !)...Can't believe CIMB calling an ADD on this. Shameful!
If u think this is not bad enough, then one should look at Vallianz... a laughing stock among OSV stocks. Its new CEO has no industry experience...scary. LOL
OSV owners such as Pacific Radiance, Vallianz,... will face a prolonged period of low (or no) vessel utilisation, with weak asset demand compounded by strong newbuild supply. Subsea (Ezra) nor liftboat (Ezion)not immune to downturn too. Massive credit risks ahead.
Can't believe this CIMB analyst still calling an ADD...wonder he knows how serious when a co called for a change in debt covenant huh? Financial inability aside; mgt creditability gone. Reason this stock is holding is becos of its tight free float. Pang family owns >60%. 1-2 loosely-arranged funds holding big blocks (from IPO) die die still keeping their massive losses. LOL
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
LTInvestor
2 posts
Posted by LTInvestor > 2014-03-25 00:12 | Report Abuse
no one here interested in strong OSV co?