Stock Name: Hyflux
Company Name: HYFLUX LTD
Company Name: HYFLUX LTD
| Research House: Maybank Kim Eng | Price Call: HOLD | Target Price: 0.96 |
SINGAPORE (Mar 2): Maybank Kim Eng has maintained its "hold" rating on Hyflux due to weaker-than-expected 4Q2014 results.
4Q2014 revenues declined by 40% year-on-year, triggering a net loss of $53 million, write analyst Wei Bin in a report out today.
Excluding a one-off divestment gain of $170 million, full year net losses reached $112 million, worse than the forecast $82 million.
"Construction recognition was down following the completion of its Tuaspring desalination plant in 2013 and slower-than-expected commencement of its Dahej project in India," he added.
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