(See also: Triyards wins two ferry orders worth US$20 mil)
SINGAPORE (March 15): OCBC is has downgraded its call on offshore and marine (O&M) provider Triyards Holdings to “hold” from “buy” previously, with a lower fair value estimate of 34.5 cents.
The downgrades comes despite Triyards’ recent announcement of contract wins worth US$230.6 million ($326.2 million) for the fabrication of two passenger ferries by its wholly-owned subsidiary, Strategic Marine, for Scottish operator Pentland Ferries and another undisclosed Asian operator.
