The research house said on Friday that even with Naga 5 set for a May delivery and negotiations for the potential acquisitions of Naga 6 and Naga 7 ongoing, UMW-OG is acquiring yet another jack-up (Naga 8), slated for September 2015 delivery.
“We maintain our FY14 EPS as we have imputed Naga 6 and Naga 7, but our target price rises (from RM4.63 to RM4.78) as we raise our FY15 EPS to factor in Naga 8.
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