Lim & Tan Securities research team also like KSH Holdings for other reasons, namely:
SINGAPORE (June 14): Lim & Tan Securities is reiterating its “buy” recommendation on KSH Holdings with a price target of 70 cents, as it believes the property developer and construction firm should trade up to its three-year historical average of 0.95x P/B.
The research team forecasts that KSH’s net value asset (NAV) per share will increase to 73.5 cents and 82.5 cents in FY17 and FY18 respectively as valuations are “undemanding” due to the firm’s historical average. KSH Holdings currently provides a yield of 6.5% against its peer group average of 3-5%.
