$PacificRadiance (RXS.SG)$ CGS CIMB reiterate add with tp at 0.07. Dividend proposal a sign of confidence in profits, in their view. FY24 core net profit of US$3.7m exceeded their expectations, driven by opex discipline and higher share of associate/JV profits. They expect bottomline improvement over FY25F-27F to come from easing reactivation costs, prudent cost controls and better fleet utilisation. $NamCheong (1MZ.SG)$$Mermaid Maritime (DU4.SG)$
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$PacificRadiance (RXS.SG)$$MarcoPolo Marine (5LY.SG)$ CGS Intl initiate coverage on RXS and 5LY as they think they are poised to benefit from their positions as ship charterers and yard owners as they will gain from tailwinds in oil & gas and offshore wind industries. They initiate coverage on: 1) RXS (TP: S$0.07; 1x 2025F P/BV), and 2) 5LY (TP: S$0.08, 9x 2026F P/E). - Global OSV fleet supply is 2-7% below the historical peak in 2015-17 due...
$NamCheong (1MZ.SG)$ OSV players may rally. For Nam Cheong, it may bottom around 0.395-0.40 and rise to resistance around 0.495. For Mermaid, it may have bottomed at 0.127. The MA5 crossed over the MA20. It may rise to around 0.144-0.15. For Beng Kuang, it may have bottomed at 0.205 and may rise to resistance around 0.25-0.26. For Pacific Radiance, it may have bottomed at 0.045 and may rise to resistance around 0.054. $Mermaid Maritime (DU4.SG)$$Beng Kuang (BEZ.SG)$$PacificRadiance (RXS.SG)$
Singapore High Dividend Picks: shielding against market volatility with High Yields and tapping into the growth potential of Singapore's core assets. Singapore High Dividend Picks: shielding against market volatility with High Yields and tapping into the growth potential of Singapore's core assets.
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