The Chinese shipbuilder carded a worse-than-expected full year net profit of SGD 30.6m ($24.2m), a decline of 71% from SGD 105.7m in 2012, it revealed this week.
And Cosco admitted it will continue to find life challenging as it completes contracts secured since 2011 with low profit margins.
“Depressing”
Analysts at the Singapore-based branch of Kim Eng Maybank agree that the outlook is bleak for Cosco due to a number of factors.
“Despite
