Seatrium - UOB Kay Hian 2025-01-03: Positive Developments In 4Q24 Close Out The Year

• Seatrium (SGX:5E2)’s business activity did not flag in 4Q24 with a notable contract win for a floating production unit for the Gulf of Mexico as well as the delivery of a fifth jack-up rig to Borr Drilling.
• - Read this at SGinvestors.io -
• Key near-term catalysts to Seatrium's share price are the conclusion of the MAS/CAD investigation, and the completion of two low-margin contracts in the US.

An offshore production platform win.

• In late-Dec 24, Seatrium announced that it had successfully converted a Letter of Intent to a firm contract for the engineering, procurement, construction and commissioning (EPCC) for BP’s Kaskida project in the Gulf of Mexico (GoM) which we estimate to be worth S$500m-600m.
• - Read this at SGinvestors.io -

Strong contender for two more follow-on projects.

• Read more at SGinvestors.io.

Above is an excerpt from a report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full PDF report @ https://www.utrade.com.sg/.

Read also UOB's most recent report:
2026-02-27 Seatrium - Margin Inflection Drives A Step Change In 2025 Earnings.

Previous report by UOB:
2025-11-14 Seatrium - Sailing To Higher Margins But New Order Wins The Key.

Price targets by 3 other brokers at Seatrium Target Prices.

Listing of research reports at Seatrium Analyst Reports.

Relevant links:
Seatrium Share Price History,
Seatrium Announcements,
Seatrium Dividend Payout Dates & Corporate Actions,
Seatrium News