UOB Kay Hian has initiated coverage of Starburst Holdings on its strong turnaround as a niche defence company. In a Nov 5 note, UOB Kay Hian analysts Llelleythan Tan and John Cheong recommend ‘buy’ on the Singapore-headquartered company, with a target price of 61 cents.

Starburst Holdings, which is headquartered in Singapore, is an engineering company that specialises in the design and engineering of firearms-training facilities and the design, fabrication, installation and maintenance of anti-ricochet ballistic protection systems for firearms shooting ranges and tactical training mock-ups. 

It serves the law enforcement, military and security agencies as well as civil authorities in Southeast Asia and the Middle East.

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