Tiger Airways: Announced late Tue it has started searching for a new CEO to replace Chin Yau Seng, who asked to return to SIA. CIMB add that the move suggests operations have stabilized; "if they weren't stable, he wouldn't have wanted to leave," adding "it's good they're planning a succession early on.
Mr Chin will stay for another six mths. It's sufficient time for him to complete his task, improving internal processes and governance. House rates the stock at Trading Buy with a $0.87 TP. The YTD high of $0.74 is likely a near-term cap.
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