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Wing Tai wins over analysts with compelling valuation, healthy balance sheet

PC Lee
PC Lee8/29/2017 03:05 PM GMT+08  • 2 min read
Wing Tai wins over analysts with compelling valuation, healthy balance sheet
SINGAPORE (Aug 29): OCBC is maintaining its “buy” on Wing Tai with an unchanged target of $2.37 for its compelling valuation and healthy balance sheet which positions it in a position to benefit from firmer conditions in the domestic housing sector.
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SINGAPORE (Aug 29): OCBC is maintaining its “buy” on Wing Tai with an unchanged target of $2.37 for its compelling valuation and healthy balance sheet which positions it in a position to benefit from firmer conditions in the domestic housing sector.

In 4Q17, Wing Tai’s PATMI surged fivefold to $9.5 million mostly due to a positive lift from taxes and higher share of profits from associates and JVs.

However, operating profit worsened to a $12.9 million loss in 4Q17 due to lower contributions from property development, although this was partially mitigated by a higher share of profits from Wing Tai Properties in Hong Kong.

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