SINGAPORE (Oct 12): OCBC is keeping Tat Hong on “hold” with a fair value estimate of 57 cents amid reports the company is seeking to list its Chinese tower-crane business on the Taiwan Stock Exchange.

“We note that this is still in preliminary stages and would typically take a few months to complete,” OCBC says.

The house says it hasn't factored in any potential gains from the spin-off, while staying cautious of the Singapore-listed construction crane operator's performance amid economic weakness in Southeast Asia and Australia.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Related Stories

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook