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RHB Research maintains 'buy' rating on MMHE
Published on: Friday, February 09, 2018

Kuala Lumpur: RHB Research Institute Sdn Bhd has maintained a 'buy' rating for Malaysia Marine and Heavy Engineering Holdings Bhd (MMHE) following the company's financial year 2017 core net profit of RM40.6 million, which surpassed expectations due to variation order claims.

In a note Thursday, the research firm said MMHE had also sprung another surprise by forking out a three sen dividend per share to shareholders.

"While 2017 was a good year, 2018 may be slightly more challenging, since orders are dwindling.

"Nevertheless, the stock is still attractively valued, as its cash pile is still of a significant size," it added.

RHB Research has revised the target price marginally higher by 13 per cent to 92 sen from 90 sen previously.

As at 12.21 pm, MMHE's share price was 3.5 sen higher at 85.5 sen, with 4.75 million shares traded. – Bernama

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