It was in April when SATS and Charoen Pokphand Group (CP) announced they will own 35% and 65% stakes in Jilin Zhong Xin Cheng Food (Jilin JVCo) respectively.
SINGAPORE (June 16): OCBC is maintaining its “hold” rating on SATS, recommending investors re-engage the stock at $4.70 or lower with a target price of $5.12.
Given the huge market size in China and the rising demand for safe food distribution, OCBC sees growth potential for SATS as it strengthens its position through the restructuring of its JV in China.
