Uni-Asia Holdings to gain from improving dry bulk sector: NRA Capital

SINGAPORE (July 1): NRA Capital is giving investment company Uni-Asia Holdings a higher fair value of $1.62 with an ‘overweight’ rating on the dry bulk shipping sector.

In a Friday report, NRA Capital’s head of research Liu Jinshu says the dry bulk sector may be hitting a bottom, which means good news for Uni-Asia as about 70% of its assets are ships.

Uni-Asia was hit by $0.7 million 1Q16 losses earlier this year, but Liu says these losses should narrow in 2Q16 as the ship values recover, and the group should see further recovery in the longer-term as charter rates are expected to improve.  

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