SATS: Could see positive sentiment after it announced it has won its bid as the operators of the S$500m International Cruise Terminal (ICT). The bid was made in conjunction with its Spanish cruise terminal partner Creuers Del Port de Barcelona.
The SATS-Creuers consortium is a 60-40 joint venture, and the grp will operate the ICT on a 10yr lease, which could be renewed for another five yrs. The ICT will finish construction by this yr, and is expected to start operations in 2Q12.
Overall, stock remains supported by an attractive dividend yield of 5-6%, which is supported by healthy cashflow. On back of this, Nomura reaffirm Buy, TP $3.16 and expect a positive stock reaction.
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