"We see growth driven by an improving Singapore economy, which we expect HRnet to benefit from on more permanent and flexible staffing placements going forward," he adds.
Alifie Yeo of RHB Bank Singapore has kept his "buy" call on HRnetGroup, along with a slightly raised target price of 85 cents from 84 cents previously.
"We continue to like HRnetGroup for its strong cashflow generation abilities, net cash balance sheet, and growth on the back of improving economic outlook, especially in Singapore," says Yeo in his Oct 28 note.
