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Courts Asia gets downgraded to 'hold' on weaker outlook

Samantha Chiew
Samantha Chiew11/13/2017 03:01 PM GMT+08  • 2 min read
Courts Asia gets downgraded to 'hold' on weaker outlook
SINGAPORE (Nov 13): DBS is downgrading its recommendation on Courts Asia to “hold” from “buy” previously with a lower target price of 36 cents on weaker outlook for earnings on a tougher credit environment in Malaysia.
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SINGAPORE (Nov 13): DBS is downgrading its recommendation on Courts Asia to “hold” from “buy” previously with a lower target price of 36 cents on weaker outlook for earnings on a tougher credit environment in Malaysia.

On Oct 9, the group announced that its 2Q18 earnings were down 74% to $1.5 million, while revenue decreased 1.4% to $176.5 million.

This was mainly due to lower contribution from Malaysia, which decreased 19.7% in Singapore currency terms due to the lower sales of goods and earned service charge income.

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