Tat Hong: DBSV says Tat Hong’s Australian subsidiary, Tutt Bryant Group (TBG) has only 1 branch out of 7 in total, that is impacted by the recent widespread and extraordinary flooding. TBG’s operations at Rocklea, Brisbane in Queensland, is temporarily affected. Insurance assessors are currently conducting an assessment of the damage to PPE, and the final cost impact is not known at this stage...
Believes in the longer run, a significant recovery and reconstruction efforts will be required in Queensland, which may lead to more demand of cranes. Maintains Hold and $1.08 target.
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