SINGAPORE (Oct 30): DBS Vickers Securities is maintaining its ‘Hold’ rating for Courts Asia with a target price of $0.35 amid weak regional demand and higher interest rates.

DBS believes that poor consumer sentiment will continue to dampen sales and earnings growth for Courts.

For one, Malaysia’s economy has remained weak. In FY2015, sales in Malaysia only contributed to 33% of total sales for Courts, and registered a higher proportion of credit sales (53%).

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