Order win forecast for CSE global trimmed by 5% to S$550m

No big-time orders in 1Q.

According to DBS, it trimmed FY13F/14F order win forecast to S$500m/ S$550m from S$550m/S$580m earlier leading to a 5%/4% cut in FY13F/14F earnings.

Here's more:

CSE has achieved 25% and 19% of our revised full-year earnings and order win forecasts. There was no big order win in 1Q13, however, we expect CSE to secure two to three big order wins in 2H13F (S$100m in aggregate) on top of its smaller order wins of S$400m in FY13F. These wins could come from LNG projects in Australia and Africa in 2H13F.

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