UOB Kay Hian Research retains Hold for MMHE, TP 37 sen

“We remain concerned on its orderbook replenishments after the sizable Bokor and Kasawari jobs. Nevertheless, risk-reward is priced in; we advise taking profit on strength and look at a lower entry level of 33 sen, ” UOB Kay Hian Malaysia Research said.

KUALA LUMPUR: UOB Kay Hian Malaysia Research is retaining its Hold call for Malaysia Marine and Heavy Engineering Holdings Bhd (MMHE) as it lowered the target price from 40 sen to 37 sen.

It said on Friday it had retained its 0.3 times price-to-book value (P/B) valuation, which is below its current three-year average and at a discount to peers like Samsung Heavy industries (0.7 times), Hyundai Engineering (0.6 times) and Sembcorp (1.1 times).