Cordlife

Cordlife: There is a strong rumor that China may relax its one child by end 2013, and fully implement the policy in 2015 via several stages. China’s baby stocks have reacted positively on the news. Cordlife may benefit via its direct 10% stake in China Cord Blood Corp – the largest cord blood player in China with operations in Beijing, Guangdon, Zhejiang and Shandong, which in aggregate account for 73% of China’s newborn population in the regions licensed for cord blood storage. Maybank KE maintains its positive view on the stock and reiterates Buy with TP $1.29 (23x FY14e P/E).