Analysts upbeat about MISC’s Mero-3 win

The win has allowed MISC to establish a foothold in Brazil and provide some costing advantages and operational expertise in improving the company’s future commercial bids in the country, potentially paving the way for more floating, production storage and offloading (FPSO) bids, said Kenanga Research. (MISC's offshore FPSO Cendor. - Filepic)

PETALING JAYA: Analysts are upbeat about MISC Bhd’s Mero-3 project win as it marks the company’s maiden venture in the Brazilian floating production storage and offloading (FPSO) market.

However, earnings contribution will only kick in financial year (FY) 2024 and the charter rates are said to be lower than earlier estimates.