Stock Name: KSH Hldg
Company Name: KSH HOLDINGS LIMITED
OCBC Investment Research in a Sept 13 research report says: "KSH recently announced changes to the Eight Courtyards contract, whereby Phase 1 and Phase 2 would take place from Sept 5 and Sept 7, respectively, to Dec 1.
"We see little impact on revenue recognition from this change and hence keep our FY2012-2013 forecasts intact. KSH's shares had traded at a 10%-16% discount to the S$0.245 per share issue price for the Limited Scrip Dividend Scheme applied to the final dividend (1.0 cent) over Aug 12 to Sept 5.
"KSH is currently trading at a 49% discount to book value and 70% below our RNAV estimate. This notwithstanding continued sales at key development projects such as The Boutiq, Lincoln Suites and Cityscape@Farrer Park which are 65%, 77% and 20% sold respectively. Revised fair value of 28 cents (60% discount to RNAV) versus 30 cents previously. UPGRADE TO BUY."
Company Name: KSH HOLDINGS LIMITED
| Research House: OCBC | Price Call: BUY | Target Price: 0.28 |
OCBC Investment Research in a Sept 13 research report says: "KSH recently announced changes to the Eight Courtyards contract, whereby Phase 1 and Phase 2 would take place from Sept 5 and Sept 7, respectively, to Dec 1.
"We see little impact on revenue recognition from this change and hence keep our FY2012-2013 forecasts intact. KSH's shares had traded at a 10%-16% discount to the S$0.245 per share issue price for the Limited Scrip Dividend Scheme applied to the final dividend (1.0 cent) over Aug 12 to Sept 5.
"KSH is currently trading at a 49% discount to book value and 70% below our RNAV estimate. This notwithstanding continued sales at key development projects such as The Boutiq, Lincoln Suites and Cityscape@Farrer Park which are 65%, 77% and 20% sold respectively. Revised fair value of 28 cents (60% discount to RNAV) versus 30 cents previously. UPGRADE TO BUY."
No comments:
Post a Comment