UOBKH Research has maintained its earnings forecasts.
PETALING JAYA: Velesto Energy Bhd
is expected to maintain a rig utilisation rate of over 75%, despite softer rig market conditions and “the disruption of local offshore activities”, according to UOB Kay Hian (UOBKH) Research.
In its latest report, the research house said this provided confidence that Velesto could sustain dividends at 2024 levels, which implies a 7% yield.
