Stock Name: Hyflux
Company Name: HYFLUX LTD
Kim Eng Research in a July 11 research report says: "During a technical sharing session, Hyflux again showcased its proprietary ultrafiltration Kristal membrane, which has been gaining traction in the last few years both in terms of market share and industry recognition.
"The $890 million SingSpring Desalination Plant in Tuas, has significantly lifted Hyflux's orderbook visibility. Funding worries have been eased, too, after a $150 million project financing facility was secured and the recent $400 million preference share issue.
"We expect the Tuas SingSpring plant to start contributing to earnings this year and raise our FY2011/1202 estimates by 6-10%. Accordingly, our SOTP-based target price rises from $2.25 to $2.37. MAINTAIN BUY."
Company Name: HYFLUX LTD
| Research House: Kim Eng | Price Call: BUY | Target Price: 2.37 |
Kim Eng Research in a July 11 research report says: "During a technical sharing session, Hyflux again showcased its proprietary ultrafiltration Kristal membrane, which has been gaining traction in the last few years both in terms of market share and industry recognition.
"The $890 million SingSpring Desalination Plant in Tuas, has significantly lifted Hyflux's orderbook visibility. Funding worries have been eased, too, after a $150 million project financing facility was secured and the recent $400 million preference share issue.
"We expect the Tuas SingSpring plant to start contributing to earnings this year and raise our FY2011/1202 estimates by 6-10%. Accordingly, our SOTP-based target price rises from $2.25 to $2.37. MAINTAIN BUY."
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