ISDN, according to Tng, does not have any direct export sales into the US, and imports from the US into China is also negligible for the company.
William Tng of CGS International, the only analyst covering ISDN Holdings (SGX:I07
) , has downgraded his call from "add" to "reduce", along with a lower price target of 28 cents from 40 cents, no thanks to uncertainties from the US-China trade war.
Citing the company's annual report, Tng notes that ISDN generates 69% of its FY2024 revenue from China, 9% from Singapore, 5% from Vietnam and 3% from Malaysia.
