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United Envirotech - Broad-based growth

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Publish date: Fri, 13 Mar 2015, 11:28 AM
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■ 3QFY3/15 beat on higher engineering revenue & external membrane sales. 9M EPS at 79% of our FY15E.

■ CITIC's involvement could be game changer, providing catalysts.

Maintain BUY & SGD1.93 TP, at 27x FY3/16E PER, a 10% discount to peers.
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