Stock Name: KepT&T
Company Name: KEPPEL TELE & TRAN
CIMB in an Oct 19 research report says: "3Q11 core net profit fell 11.3% y-o-y as investments and logistics revenue declined following the disposal of non-core investments and redevelopment of a warehouse. The impact was partially cushioned by a 15% q-o-q increase in data-centre contributions.
"In the quarter, there was a $24 million gain from the sale of investments in Wuhu Annto ($18.4 million) and others ($5.8 million). KPTT's logistics business is trading at 4.7x CY13 P/E, near its 3x trough during the global financial crisis. Target price of $1.46.
"KPTT is determined to develop its core operations as it continues to divest non-core investments. While this temporarily affected 3Q11 results, we see longer-term rewards. Coupled with near-trough valuations, KPTT is still a buy! OUTPERFORM."
Company Name: KEPPEL TELE & TRAN
| Research House: CIMB | Price Call: BUY | Target Price: 1.46 |
CIMB in an Oct 19 research report says: "3Q11 core net profit fell 11.3% y-o-y as investments and logistics revenue declined following the disposal of non-core investments and redevelopment of a warehouse. The impact was partially cushioned by a 15% q-o-q increase in data-centre contributions.
"In the quarter, there was a $24 million gain from the sale of investments in Wuhu Annto ($18.4 million) and others ($5.8 million). KPTT's logistics business is trading at 4.7x CY13 P/E, near its 3x trough during the global financial crisis. Target price of $1.46.
"KPTT is determined to develop its core operations as it continues to divest non-core investments. While this temporarily affected 3Q11 results, we see longer-term rewards. Coupled with near-trough valuations, KPTT is still a buy! OUTPERFORM."
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