2 biggest factors that could hamper Jaya's growth outlook

FY14 earnings may suffer.

According to OSK, vessel disposals hamper Jaya's near-term growth. On top of this, further delays in shipbuilding may also affect medium-term growth outlook.

Here's more:

The disposals of the Jaya Scout and Jaya Pioneer surprised us as both were profitable, with the latter being the fleet’s crown jewel. Their sale boosted Jaya’s 4Q13 profit but at the expense of recurring income for FY14F and beyond.

Further delays in shipbuilding hurt medium term growth. There has been more vessel delivery delays since our 16 May report, Delays In Vessel Deliveries Hurt Future Growth. Four vessels were delayed by 1-2 months and another three by 4-11 months.

This prompts us to lower our FY14F/15F forecasts by 3%/17% respectively.

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia