Otto Marine: To sell two units of 8k bhp AHTS at total US$43.4m (S$54.8m). The two vessels are under construction and will be completed by end of the yr. After delivery, co will charter and deploy the vessels for 7 yrs. In effect, co will build and leaseback the vessels. FY2010 rev for co was $579.9m…
Order book for shipbuilding division was US$131m as of FY2010 end yr. Otto now trades at 6.3x current P/E vs hist avg at 8.2x. Other peers ASL Marine trades at 7.4x and Jaya at 5.5x current P/E
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