Singapore Stock Market News

Swissco Holdings - Double bagger, literally

StockFanatic
Publish date: Fri, 11 Apr 2014, 09:56 AM
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Swissco's market cap could double by Sep 14, in our estimation, after the injection of Kim Seng Holdings' Scott & English business, worth S$285m, into its fleet-chartering business. Earnings are expected to double, with upside only limited by the quantum of the fund injection.

We estimate the fair value of the enlarged entity at S$0.36 (7x CY15 P/E) to S$0.52 (10x CY15 P/E), based on the valuations of its Singapore OSV peers.
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