In a recent client briefing Maybank Kim Eng pulled its “buy” recommendation and stamped the Chinese shipbuilder’s Singapore-listed stock with a “hold” rating.
While the firm believes Yangzijiang will outperform peers in the months ahead it argued that the rebound will be slower than previously anticipated.
“2015 order expectations need to be toned down as we foresee another sluggish year for China’s shipbuilding [industry],” it told investors.
“Supply
