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Cityneon cut to 'hold' amid emerging concerns, lack of catalysts

Stanislaus Jude Chan
Stanislaus Jude Chan5/15/2018 04:36 PM GMT+08  • 2 min read
Cityneon cut to 'hold' amid emerging concerns, lack of catalysts
SINGAPORE (May 15): CGS-CIMB Research has downgraded Cityneon Holdings from “add” to “hold” and slashed its target price by around 27% to $1.16 on the back of expectations of higher depreciation and financing expenses ahead.
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SINGAPORE (May 15): CGS-CIMB Research has downgraded Cityneon Holdings from “add” to “hold” and slashed its target price by around 27% to $1.16 on the back of expectations of higher depreciation and financing expenses ahead.

“The additional loans taken to build new sets led to higher net gearing for [Cityneon], from 1.4x as at end Dec-17 to 1.5x,” says

According to analyst Ngoh Yi Sin, Cityneon’s additional loans to build new sets has raised its net gearing to 1.5 times as at end-March 2018, from 1.4 times as at end-December 2017.

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