0346 GMT - Seatrium looks on track to turn profitable in 2024 after suffering losses since 2018, Morningstar director Chokwai Lee writes in a note. The shipbuilder's 3Q business update had no major surprises, Lee says. The company's net order book is healthy at S$24.4 billion as of September, with deliveries lasting to 2031, he adds. While there were limited new order wins in 3Q, management sees a healthy pipeline ahead and is working to convert those into orders, Lee says. Management also expects financing costs to continue declining in 2025 as interest rates fall, he notes. Morningstar maintains the stock's fair-value estimate at S$2.66. Shares are last 0.5% lower at S$1.94. (amanda.lee@wsj.com)
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