Singapore Stock Market News

Hyflux Ltd - Partially divesting China assets

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

■ Valuations appear fair. Astute move, in our view.

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