CosmoSteel

CosmoSteel: Voyage reckons the company’s efforts to enter into new markets seem to be bearing fruit with projects won in China and the Philippines. House expect the company to continue to capture market share in the regional markets and strengthen footholds in further away regions like the US and Europe. CosmoSteel also recently announced the acquisition of a new warehouse in Tuas, to replace an existing rented facility. Voyage expects substantial cost savings and potential capacity expansion. As a result, Voyage expects faster revenue growth of 20% per year over FY15 and FY16, raising its TP to $0.63 (from $0.54).