Equity Analysis /

MY : Westports Holdings - Port congestion pushes 4Q volumes into 1Q

    Raymond Yap
    Raymond Yap

    Head of Regional Transport

    20 January 2021
    Published byCGS-CIMB

    Westports noted that port congestion has caused 4Q20 volumes to be lower than previously expected, although overall activity continues to look strong. Reiterate Reduce with unchanged DCF-based TP of RM3.63 as we believe the surge in global container volumes during 2H20 will peak in 1Q21F.