CIMB Research warned that the storm clouds of a major tanker freight rate correction can already be seen in the horizon, newbuilding deliveries expected to pick up considerably from 4Q15, and potential oil output cutbacks in 2016. The window to invest profitably in MISC is slowly, but surely, narrowing.
According to MISC' announcement, the price includes Swift undertaking to repay a RM66.8mil shareholders loan owed by MILS to MISC and receivables of up to RM34mil. The logistics business itself is valued at RM257.2mil based on its audited net asset as at Dec 31, 2015.
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