08-10-2013, 11:41 AM
From UOBKH Research Report (8th Oct 13)
Not vested
Quote:Triyards (BUY/Target: S$1.11) - Cheap leading liftboat builder. The group had commissioned a floating dock, which will ramp up its ship repair capacity and contribute incremental earnings of US$2m-3m a year. Management also indicated seeing strong enquiries for its proprietary third-generation self elevating units (SEU), which will drive orders growth going forward. Maintain BUY and target price of S$1.11, pegged at 7.9x FY14F PE, a 10% discount to peers’ average of 8.8x FY14F PE.
Not vested