Simons Trading Research

StarHub - Scaling Up in Cyber Security

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Publish date: Thu, 06 Sep 2018, 09:04 AM
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Simons Stock Trading Research Compilation
  • StarHub and Temasek (under its wholly-owned subsidiary Leone Investments) will inject their respective cyber security operations under Accel Systems & Technologies and Quann World to form 40:60 JV Ensign InfoSecurity.
  • StarHub would also be assigned economic rights to a 20% stake in Ensign for three to five years.
  • We view the JV as mildly positive for StarHub as it continue to engineer growth in the fixed enterprise space.
  • Maintain HOLD. Target: S$1.85.

Source: UOB Kay Hian Research - 06 Sep 2018

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