Nam Cheong's track record unlikely to be rattled by weaker oil prices: RHB

Stock Name: Nam Cheong
Company Name: NAM CHEONG LIMITED

Research House: RHB

Price Call: BUY

Target Price: 0.53

SINGAPORE (March 12): RHB Securities Singapore has maintained its "buy" call and 53-cent price target on Nam Cheong, saying the vessel builder's current valuations are attractive at five times projected earnings for next year and four times 2016 earnings.

Fundamentally, the company is still getting orders, with the latest being US$58 million ($80.5 million) worth of contracts to build two vessels for repeat customers, RHB analysts Lee Yue Jer and Jesalyn Wong pointed out in a note today.