Cosco Singapore Left as Lowest-Rated Asia Stock on Rig Push
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Cosco Corp. Singapore Ltd.’s strategy of seeking orders to build oil rigs and offshore accommodation units to offset slumping ship demand hasn’t convinced investors.
The company, which operates seven shipyards in China, has dropped 49 percent in the past year in Singapore trading. It also has the lowest analyst ratings among major Asian stocks, with 21 sell ratings, two holds and no buys, according to data compiled by Bloomberg. That’s the worst among MSCI AC Asia Pacific Index members covered by at least three analysts.