SINGAPORE (July 4): RHB Research is maintaining its “buy” call on Kimly with a higher target price of 46 cents compared to 43 cents previously, following news of the coffee shop operator’s $16 million acquisition of Asian Story Corp (ASC) and its Asian Story brand portfolio with a 7.7% market share.

The research house is particularly positive on the acquisition with the view that Kimly stands to benefit from longer-term growth, profit accretion and increased cash flow.

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