CGS-CIMB Research analyst Ong Khang Chuen has kept “add” on Boustead Singapore with an unchanged target price of $1.40 following the group’s record performance for the FY2021 ended March.

The target price, says Ong in a May 28 report, is still based on a 20% discount to its sum-of-the-parts (SOTP)-based valuation.

That said, the group’s net profit of $113.1 million stood slightly below Ong’s expectations at 96% of his full-year earnings estimates.


To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook