In its Jan 22 filing, Seatrium says it is in disagreement with Aibel over the direct scopes of work and allocation of scope responsibilities for the DolWin 5 project.
CGS International and Citi Research have maintained their respective positive calls on Seatrium after news that Norwegian company Aibel AS, its partner for the DolWin 5 project, has filed arbitration proceedings on Seatrium, claiming EUR113 million. In return, Seatrium has filed its own claim of EUR 180 million on Aibel too.
CGS International analyst Lim Siew Khee and Meghana Kande remain steadfast in their “add” call and unchanged target price of $2.67 for Seatrium while Citi’s Luis Hilado reiterates his “buy” rating with an unchanged target price of $2.65.
