DBS Group Research has maintained its “buy” call for Tuan Sing Holdings with an unchanged target price of 44 cents as it believes that the undervalued company may realise its upside potential.

According to the brokerage, the company is currently trading between one and two standard deviations below its three-year mean.

The low valuations could be due to Tuan Sing’s high net debt-to-equity and low interest coverage ratio.

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