“Revenue for FY18/19 will continue to be supported by the estimated close to $210 million development profits from High Park, Grandeur Park and Willow Apartments which will be progressively recognised,” says analyst Tan Dehong in a Monday report.
SINGAPORE (Feb 19): Phillip Capital is keeping its “buy” call on Chip Eng Seng (CES) with an unchanged target price of $1.21 on the back of strong revenue visibility in FY18.
The target price represents a 40% discount to CES’ revalued net asset value (RNAV).
