Singapore Stock Market News

Religare Health Trust - Indian healthcare exposure

StockFanatic
Publish date: Thu, 29 Nov 2012, 10:10 AM
StockFanatic
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Sponsored by Fortis Healthcare, the second largest hospital chain by revenue in India, RHT will be the first SGX-listed trust to offer unique exposure to the growing Indian healthcare market. We see long-term growth underpinned by capacity expansion and ARPOB increases.

We initiate coverage with Outperform and DDM-based target price of S$0.95 (discount rate: 12.4%). Forward yields of 9.7-10.0% (for ordinary unit-holders) are among the highest within the Singapore market and are attractive against listed peers. We expect catalysts from earnings delivery and execution.
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