Singapore Stock Market News

Sino Grandness - Progressing On All Fronts

StockFanatic
Publish date: Wed, 09 Oct 2013, 02:19 PM
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Positive takeaways from recent China trip. Sino Grandness invited us for a 3-day trip to China. We came away positive after our visit to an F&B trade fair in Wuhan and a plant in Danyang. In our view, Sino Grandness's domestic business is making impressive progress on all fronts, including new product launches, expansion of its distribution network and new capacity installation.

The Garden Fresh IPO is also on track, according to management. We continue to like Sino Grandness for its strong growth outlook. We believe the stock is still undervalued at 5.1x FY13 PER and much more value is waiting to be unlocked via the Garden Fresh IPO.
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