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Show Notes
Dominique de Soras, CEO of Malaysia Marine and Heavy Engineering on the Breakfast Grille discusses:
- second quarter results with lower margins despite higher revenues
- half year profits only 38% of consensus forecast, any chance of catching up in the second half of the year?
- order book of only RM1.8bn currently. Needs replenishing
- delays and postponement of tenders
- expansion of capacity despite lower orders
- the gap between Malaysian and Korean fabbrication companies
- MMHE one of the most expensive O&G fabricators globally based on PE ratios. Overvalued?
- relationship with MISC and Petronas
- overreliance on Petronas (93% of revenue from Malaysia)
- undermechanisation in MMHE
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