Singapore Stock Market News

XMH Holdings - Bringing Niigata On Board

StockFanatic
Publish date: Thu, 21 Aug 2014, 12:09 PM
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XMH Holdings announced that it has entered into a non-binding MOU for the proposed acquisition of 80% of Z-Power Automation Pte Ltd (ZP), a marine controls company and OEM for the Niigata brand of engines and propulsion systems. The purchase consideration is SGD13.2m, to be paid in two tranches, implying a historical P/E of 9.6x before imputing growth.

Maintain BUY, with our TP nudged up to SGD0.42 (from SGD0.41).
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