Singapore's Tat Hong rated 'outperform' - Credit Suisse

My analysis on Tat Hong.

Tat Hong Holdings - My Singapore Portfolio

Analyst Report on Tat Hong Holdings

Tat Hong Eyes Further Expansion Into Overseas Market



SINGAPORE (XFN-ASIA) - Credit Suisse said that it has initiated coverage of heavy equipment leasing firm Tat Hong Holdings Ltd with an "outperform" rating and a one-year target price of 1.05 sgd.

"With mega-projects in the oil and gas and infrastructure sectors on the rise, management has confidently predicted a 25 pct earnings compound annual growth rate through [the year to March] 2008," Credit Suisse said.

"We believe this is, indeed, likely and it suggests the stock [is] worth more than the current market price," it said.

Credit Suisse forecasts Tat Hong net profit for the year to this March at 31.2 mln sgd, up from 20.6 mln sgd the year before, and for the year to March 2007 at 36.3 mln sgd.

At 10.09 am, Tat Hong was up 0.025 sgd or 2.99 pct at 0.86, on volume of 2.00 mln shares.

geraldine.chua@xfn.com


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Niversphere
Please read the prospectus and perform your analysis before making any investment decision. The above does not constitute a recommendation to apply for this company. I will not be liable for any losses incurred by anyone who invests based solely on the above-mentioned information.