Singapore Stock Market News
ISEC Healthcare - Closes down Novena centre
StockFanatic
Publish date: Tue, 14 Jul 2015, 03:22 PM
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â– Closure of ISEC Singapore will lead to SGD2.6m charge in FY15 but SGD1.3m pa in cost savings from FY16 onward.
â– Cut FY15 EPS by 34%, raise FY16 EPS by 12%.
â– Stock weighed down by lack of M&A progress. Maintain HOLD. TP lowered from SGD0.44 to SGD0.40, based on 32x FY15 EPS following removal of M&A premium.
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