Cordlife

Cordlife: SIAS notes the co's 2QFY13 results last wk, were better than expected. Continues to like Cordlife's fundamentals on the back of , i) more incentives from the govt for each new born, ii) higher population as indicated in the White Paper, and iii) higher future cord blood banking market penetration rate. Speculates that Cordlife may have the opportunity to exercise its first rights of refusal on Cordlife Ltd's (the entity that was listed in Australia before Cordlife was spun off) assets in Indonesia, India and Philippines. Maintains Overweight with TP $0.80. Cordlife extends its recent run up, is +3% at $0.68