Shares in Triyards Holdings may be being held back by the uncertainty surrounding majority shareholder Ezra Holdings, say analysts.
The uncertainty has prompted local bank OCBC to downgrade its rating for the Singapore-listed shipbuilder to ‘hold’ pending “clarity relating to Ezra”.
“Though the stock is trading at only 0.3 x book value, investors may be waiting further clarity on the impact that Triyards may face from an Ezra default,” said OCBC analyst Low Pei Han.
“So
