OUE
– Successful Asset Spin-off - Lucas Tan
Recommendation: Accumulate
Previous close: S$2.87
Fair value: S$3.24
·
OUE 2Q13’s 15.8% y-y
increase in revenue to S$112.0mn, was met with a larger 56.6% increase in cost
of sales. Gross profit dipped 8.5% to S$55.4mn.
·
PATMI decreased
35.8%y-y to $14.6mn, due to higher costs incurred for administrative and
marketing purposes.
·
Special dividend of
20 cents per share and interim dividend of 1 cent per share
·
Maintain Accumulate
with unchanged fair value of $3.24
Source: Phillip securities research Pte Ltd
OUE ltd currently turning up for an uptrend, with the "accumulate" recommendation base on the fundamental value of the company, we see some potential in this company in the mid term time frame (1-3month). Stoploss can place at $2.77
If you have friend want to Open Free Singapore stock trading account with us please contact us at : arteam@phillip.com.sg
