Featured Report: KN on Swee Joo

This morning I made short notes on Swee Joo's extremely poor earnings results. I just got a copy of KN notes on Swee Joo.

Their recommendation on Swee Joo is 'witheld'!

• Cutting FY09 and FY10 forecasts by 342.9% and 56.8% on weaker than expected tankers performance . Rates recovery for tankers we believe are less likely in the near term given excess vessels supply. Turnaround will now hinge on management’s restructuring efforts for its vessels and borrowings portfolio. Our call and TP are withheld in the exercise of Kenanga 's duties under the applicable laws, rules, regulations, policies and procedures for the time being in force, and is not a reflection of expected returns .

oO

Errr... like this also can???