Singapore Stock Market News

Hyflux Ltd - Partially divesting China assets

StockFanatic
Publish date: Thu, 02 Jul 2015, 11:50 AM
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â–  Plans to divest five water plants in China for CNY890m. Factoring in divestment gains, our FY15 forecast improves from SGD11m loss to SGD16m profit.

â–  Valuations appear fair. Astute move, in our view.

â–  Maintain HOLD & SGD0.96 TP, at 25x FY16 EPS. Prefer CEWL, followed by SIIC & UENV, in that order.
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