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UOB Kay Hian initiates ‘buy’ on Dezign Format with target price of 37 cents

Felicia Tan
Felicia Tan • 3 min read
UOB Kay Hian initiates ‘buy’ on Dezign Format with target price of 37 cents
From left: Dezign Format’s CEO Mike Chong; founder and controlling shareholder, Chong Nen Sing; and executive director, Jonathan Chong. Photo: Albert Chua/The Edge Singapore
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UOB Kay Hian analyst Heidi Mo has initiated a “buy” call on Dezign Format Group with a target price of 37 cents. Dezign Format debuted on the Catalist board on Aug 15. Its shares opened at 26.5 cents, compared to its initial public offering (IPO) price of 20 cents per share.

In her Aug 20 report, Mo highlights Dezign Format’s strong track record in the provision of events, exhibitions and decor services. The company has over 35 years of experience providing services such as the design and fabrication of custom environments and festive decorations. It also engages in the development, licensing and commercialisation of immersive location-based entertainment (LBE) as well as commercial and retail fit-out works.

“The company boasts an impressive portfolio of reputable clients such as Burberry, Dior, Gucci, LVMH, DBS, Singapore Airlines, IKEA, etc, and has a track record in completing notable projects including: Marina Bay Sands Lunar New Year 2024; IKEA Alexandra Store Interior Fit-Out; and DinoQuest at Guixi Ecological Park in Chengdu, China,” Mo writes.

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