“Its high returns stem from selling proprietary know-how and successfully designing, operating, and commissioning customer plants with a 45-year track record of project completions,” the analyst writes.
PhillipCapital analyst Paul Chew has initiated a “buy” call on Catalist-listed Oiltek International (SGX:HQU
) with a target price of 70 cents.
In his report dated June 10, Chew notes Oiltek’s “enviable” business has a return on equity (ROE) of 31%, is asset-light and backed by net cash of RM132 million ($37.9 million), which is around 70% of its market capitalisation.
