SINGAPORE (Oct 29): Maybank has kept Wing Tai at “buy” with a $2.25 target price as it continues to see “deep value” in the stock.

To be sure, Wing Tai’s 1QFY16 net income of $2 million came in below expectations at only 2% of FY16E.

The quarter’s 6% higher revenue of $170 million was driven by progressive recognition from The Tembusu, Le Nouvel Ardmore in Singapore, The Lakeview in China and Jesselton Hills in Penang.

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