Versalink Holdings started at "buy", 28.9-cent target by CIMB

Stock Name: Versalink
Company Name: VERSALINK HOLDINGS LIMITED

Research House: CIMB

Price Call: BUY

Target Price: 0.289

SINGAPORE (Dec 2): CIMB has started coverage on Versalink Holdings with a "buy" call and price target of 28.9 cents, based on 8.3 times projected FY2016 earnings.

The Malaysia-based maker of mid- to high-end office furniture is expected to get a boost to its exports as it signs on more dealers and as its major markets in the US and Europe pick up on the back of better economic conditions, according to CIMB.

Besides manufacturing, Versalink also provides services such as workspace planning and consulting to optimise floor space.