Yangzijiang Shipbuilding (Holdings)
DBS Group Research “buy” $2.15
Investment arm to be spun off aims for ROE of 8%– 10%
DBS Group Research has reiterated its “buy” call and $2.15 target price on Yangzijiang Shipbuilding (Holdings), with the impending spin-off of its investment arm. “The listing of the investment arm improves corporate governance and catalyses the re-rating of its shipbuilding business,” notes DBS on April 12.