Near-term PATMI is expected to be weaker YoY, due to transitional ramp-up of new projects. Further integration downtime is also likely to arise from the new Tuas South laundry plant which is expected to be completed in 1Q 2019. The energy recovered from the sludge treatment plant will be used to power the laundry plant.
Our most recent rating from our 13 November 2018 report, was NEUTRAL with target price of $0.80. We are ceasing coverage on this counter due to reallocation of internal resources.