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OSIM International - Tea Leaf Readings
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Publish date: Mon, 02 Nov 2015, 12:35 PM
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• We hosted a post-results briefing, where management advised clients to stay the course and ride out downturn.
• Management suggested TWG could turn profitable next year due to the build-up in HK and acceleration of franchising.
• Reiterate HOLD. Short-term still grim, but 3Q15 likely the trough for 2015. A risk is the loss of TWG shareholding fight.
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