Singapore Stock Market News

Sino Grandness - Odds Are Still Good

StockFanatic
Publish date: Tue, 09 Apr 2013, 05:35 PM
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Initiate with BUY. In our view, the odds are still good for buying SinoGrandness now to bet on the catalyst of it pulling off a successful spinoff of Garden Fresh, its beverage subsidiary, at substantially higher valuations in HK than what investors in Singapore are currently giving the whole group. Sino Grandness could be worth up to SGD2.52 (158% upside) on our best case scenario and SGD1.31 (34% upside) on the worst case scenario, with potential 20% downside even if the listing does not take place.
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