Singapore Stock Market News
SMRT - SGD2b hurdle to rail transition
StockFanatic
Publish date: Wed, 16 Jul 2014, 09:51 AM
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■ Transport Minister highlighted "wide gap between SMRT's expectations and LTA's position" on rail transition.
■ LTA's response underpins our cautious stance on SMRT's position in the rail transition. Satisfying the SGD2b financial obligations will significantly weaken its balance sheet.
■ Maintain HOLD with unchanged TP of SGD1.36.
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