Singapore Stock Market News

Yongnam Holdings - Myanmar angle surfacing

StockFanatic
Publish date: Wed, 20 Mar 2013, 01:48 PM
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Flash Note Outperform rating
It is no secret that Yongnam has joined forces with Changi Airport on a potential tender for the Myanmar airport project. Should this pan out, it would be a major diversification move for Yongnam though there are other re-rating catalysts apart from his potential venture.

The group's experience and knowledge will help it identify appropriate and profitable development projects, as well as manage the development process. Our target price remains set at 6x CY14 P/E, its 3-year mean. We reiterate our Outperform rating, with potential mega projects being the stock catalyst.
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