Stock Name: ChasenHldg
Company Name: CHASEN HOLDINGS LIMITED
SIAS Research in an Oct 10 research report says: "As a specialty mover, Chasen's niche is in the handling of high tech equipment. Chasen offers a resilient business that helps companies to relocate when they expand or restructure their operations.
"More importantly, the company is expanding its scope of services and looks set to gain from the dual themes of China's move into high tech and manufacturing and inland development. Chasen announced a strong set of 1Q (ended Jun 2011) FY12F results earlier this year with net attributable profit growing by 147% y-o-y from $1.3 million to $3.3 million.
"Sales grew by 68% from $17.0 million to $28.6 million in 1Q FY12F. We value Chasen at 58 cents per share, representing an upside of 41.5% from its close of 41 cents on Oct 6. Our valuation is based on an explicit forecast horizon from FY12F to FY14F. INCREASE EXPOSURE (initiating coverage)."
Company Name: CHASEN HOLDINGS LIMITED
| Research House: SIAS | Price Call: BUY | Target Price: 0.58 |
SIAS Research in an Oct 10 research report says: "As a specialty mover, Chasen's niche is in the handling of high tech equipment. Chasen offers a resilient business that helps companies to relocate when they expand or restructure their operations.
"More importantly, the company is expanding its scope of services and looks set to gain from the dual themes of China's move into high tech and manufacturing and inland development. Chasen announced a strong set of 1Q (ended Jun 2011) FY12F results earlier this year with net attributable profit growing by 147% y-o-y from $1.3 million to $3.3 million.
"Sales grew by 68% from $17.0 million to $28.6 million in 1Q FY12F. We value Chasen at 58 cents per share, representing an upside of 41.5% from its close of 41 cents on Oct 6. Our valuation is based on an explicit forecast horizon from FY12F to FY14F. INCREASE EXPOSURE (initiating coverage)."
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