MMHE has financial muscle and resilience

“MMHE is cash rich and undeservedly undervalued, ” opined Maybank IB in a report yesterday.

KUALA LUMPUR: The first-quarter losses booked by Malaysia Marine and Heavy Engineering Holdings Bhd (MMHE) could be a short-term setback for the company as its net cash position will enable it to ride out the current down market.

MMHE was in the red for the first quarter ended March 31,2021 (Q1’21) mainly due to losses at its marine and heavy engineering operations, which were affected by the movement control order (MCO) 2.0 and seasonal weakness.