In a note issued a day after the Chinese shipbuilder reported record earnings Maybank Kim Eng replaced its “hold” rating with a “buy”, an upgrade analysts based on a bet that the Singapore-quoted company boasts “brighter order prospects” than its peers.
The bank pointed out that the shipbuilding conglomerate secured roughly $1.4bn worth of orders in the first-half of 2014 and claims management is optimistic about the next six months, a period in which it plans to pursue contracts to construct larger and more sophisticated types of ships.
“Despite
