HOE vessels business, a deadweight -- OCBC
Luckily, its equipment parts core business will do some heavy lifting in revenues.
OCBC still expressed concerns that the vessels chartering segment, buffeted with an oversupply of competition, will continue to drag the firm's otherwise rosy prospects.
Here's more from OCBC:
Regional supplier of components. Hoe Leong Corporation Ltd (HOE) is one of the biggest suppliers of heavy equipment components in the region. The group carries about 20,000 types of equipment parts for equipment such as bulldozers and excavators. The end users of these equipments and parts typically operate in mining, forestry and construction. While HOE aims to expand its operations globally, Asia remains its key market with more than 80% of revenue from Asia. |