SATS’ subsidiary SFI has won a $5.5m high profile catering services contract for the 2010 Singapore Youth Olympic Games . SFI will develop a meal ordering system, manage/prepare all meal requirements for 7,000 athletes, officials and volunteers. The project will SATS’ full range of catering capabilities, from its cook-chill capabilities to vegetable and fruit processing as well as logistics/operational planning competencies in mass catering...
Note that in addition to this event, SATS/SFI has also done catering for the F1 events, specifically in catering for the VIP planes as well as the National Day celebrations. We believe SATS is well-positioned to access additional growth opportunities in the hospitality and tourism sectors. Maintain BUY with a target price of $3.30.
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