DBS ups TP for Tuan Sing to 66 cents as potential GulTech IPO approaches

DBS Group Research has kept its “buy” call with a higher target price of 66 cents for Tuan Sing Holdings after it announced its 1HFY2021 ended June results on August 6.

See: Tuan Sing reports 15-fold increase in 1H21 earnings

DBS analysts Woon Bing Yong and Derek Tan note that Tuan Sing’s 1HFY2021 earnings of $99.9 million, driven by the disposal of Robinson Point, was in line with their expectations in an August 10 research note.