SINGAPORE (May 25): SAC Advisors is maintaining its “buy” call on Sanli Environmental with an unchanged target price of 36 cents, even after the environmental engineering company reported lower FY18 earnings of $3.1 million, down 40.7% from $5.2 million a year ago despite higher revenue.
See: Sanli Environmental posts 40.7% lower FY18 earnings of $3.1 mil; announces 0.25 cent dividend
This comes on a potential $6.5 billion worth of contracts to be rolled out by the Public Utilities Board (PUB) by end-2018 and over 2019 for Phase 2 of its Deep Tunnel Sewerage System project, for which Sanli’s management guided it intended to bid for 12 out of the 14 contracts to be offered.
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