Sarine Technologies - Maybank Kim Eng 2016-07-07: Diamond in the rough

SARINE TECHNOLOGIES LTD U77.SI 

Sarine Technologies (SARINE SP) - Diamond in the rough 

Guided for 2Q16 revenue to exceed USD20m… 

• Sarine guided that 2Q16 revenue could exceed USD20m due to positive midstream profitability that continued to drive manufacturing activities. 
• The company delivered a record of 20 Galaxy-related machines in 2Q16 (1Q16: 18, 2Q15: 6), of which 10 were for the new Meteor, eight Solaris and two Galaxy Ultra. This development supports our views expressed on 25 May 2016, The Path to Normalcy, where we highlighted industry data points that suggest recovery remains on track. 

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