Singapore Stock Market News

ValueMax Group - Projected Turnaround In Place

StockFanatic
Publish date: Wed, 02 Jul 2014, 10:44 AM
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Management met our clients at our Asean-Hong Kong Corporate Day on 27 June.

Key takeaways:
i) expansion plans on track with 20 outlets in Singapore and eight in Malaysia by end-FY14,

ii) a projected earnings turnaround with an increase in total general loans given out seen, and

iii) key concerns remain mainly on liquidity and the stability of gold prices.

Maintain BUY and SGD0.56 TP, based on 1.9x FY14F P/BV.
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