Keong Hong / Kori

Keong Hong / Kori: Keong Hong announced earlier this wk, a $5m invmt in structural steel works and tunneling specialist Kori. Voyage Research (previously SIAS), sees this transaction as a start of a strategic alliance btwn both companies, to extract synergies such as the pooling of expertise to bid for more complex projects. For Keong Hong, the house notes this move may be a route to enter into public transportation infrastructure projects. Voyage maintains its Overweight rating with TP $0.715.