DeClout

DeClout: Sias initiates at Overweight with TP $0.41. Notes DeClout proposed the acquisition of a US subsidiary in Apr 2013 as the first step of its plans to expand its IT asset recovery and maintenance services business (ASVIDA) globally over the next 12 to 18 months, with the potential of a subsequent spin-off. The house is excited about DeClout’s growth plans, given its impressive three-year revenue CAGR of close to 400% since FY09.