In a Thursday report, analyst Sachin Mittal says he expects corporate tax rates to remain high at about 25% in the future as a result of expiry of tax incentives in Singapore.
SINGAPORE (Feb 23): DBS Vickers Securities has downgraded its “buy” call on Procurri Corporation to “hold”, while lowering its target price to 40 cents from 56 cents previously.
This comes after the data centre equipment provider on Tuesday posted a 48% decline in 4Q16 net profit to $2.5 million, which was 35% below the research house’s expectations due to cost escalations and higher tax.
