SINGAPORE (Oct 29): DBS Vickers Securities is downgrading OSIM International to fully valued from hold and reduces its target to $1.22 from $1.61 citing a weak outlook for the massage chairs maker.

DBS says OSIM’s third quarter earnings were below its expectations with a 62% fall in net profit to 6.2 million dollars “significantly below” the house prediction.

DBS says demand for OSIM's products remains weak.

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