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Malaysia Marine & Heavy Engineering (MHB) returned to black with a net profit of RM2.4m in 3QFY20
Earnings was supported by higher revenue recognition from heavy engineering’s on-going projects and absence of oneoff costs during the quarter
Marine segment returned to black during the quarter despite lower revenue and higher unabsorbed overhead cost
FY20-21F earnings maintained
Upgrade to TRADING BUY with an unchanged TP of RM0.37 per share
Malaysia Marine & Heavy Engineering (MHB) returned to black with a net profit of RM2.4m in 3QFY20
Earnings was supported by higher revenue recognition from heavy engineering’s on-going projects and absence of oneoff costs during the quarter
Marine segment returned to black during the quarter despite lower revenue and higher unabsorbed overhead cost
FY20-21F earnings maintained
Upgrade to TRADING BUY with an unchanged TP of RM0.37 per share
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