MMHE profit visibility intact until FY27

RHB Research said MMHE’s recent win of a RM1.2bil subcontract for an offshore wind project in the Netherlands has boosted its order book to RM6.3bil.

PETALING JAYA: Malaysia Marine and Heavy Engineering Bhd’s (MMHE) RM6.3bil order book is expected to offer earnings visibility up to the financial year ending Dec 31, 2027 (FY27), but analysts express concern about its recurring cost provisions.

These concerns stem from the fact that the company incurred losses in FY23, primarily attributed to escalating costs.