In her Aug 25 report, Lim points out that HLA's powertrain division is set to enjoy growth thanks to "burgeoning" demand from data centres.
Ada Lim of OCBC Investment Research has initiated coverage of Hong Leong Asia with a "buy" call and $3.40 fair value price, given its "constructive" outlook.
HLA is in the business of building materials and via a separately listed China-based subsidiary, China Yuchai, manufactures and sells powertrains as well.
