$MHB / 5186 (MALAYSIA MARINE AND HEAVY ENGINEERING HOLDINGS BERHAD)
Research by RHB
Buy (Maintained) - TP of MYR0.57

"Cost Recovery Claims Coming In; Keep BUY"

Malaysia Marine & Heavy Engineering’s results came in below expectations as the group is still incurring additional cost provisions for an ongoing project. However, MMHE turned into the black following the recognition of cost recovery claims. Going forward, we believe its strong pipeline coupled with ongoing efforts of its recovery claims, will ensure profitability.

Analyst:
Miza Izaimi
miza.izaimi@rhbgroup.com

Sean Lim, CFA
sean.lim@rhbgroup.com