Friday 13 December 2013

Silverlake Axis

UOB Kay Hian Research, Dec 12
AFTER its outperformance year to date, we think the stock's current valuations reflect its solid fundamentals and good prospects. FY2014 will be a year of new contract wins and full-year contributions from Merimen Ventures and Cyber Village. Its Chinese associate's listing could take place in the medium term when China resumes IPOs in 2014.
Downgrade to "hold" and maintain target price at S$0.91. Entry price is S$0.80.
HOLD

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