In an unrated report on Tuesday, lead analyst Carmen Tay says the stock, at its Monday closing price of 45.5 cents, is trading at 17% discount to peers’ average 11 times FY18 earnings.
SINGAPORE (Dec 6): DBS Vickers Securities expects construction company Hock Lian Seng to see a near-doubling of earnings in FY18 to $27 million from $13.8 million in FY17 on the back of strengthening order book momentum.
The research house has valued the company at 58 cents per share, based on 11 times FY18 earnings, with a prospective 5.5% yield.
