Sino Grandness

Sino Grandness: Maybank-KE reiterating its Buy Call and $1.89 TP. Note that in the light of the recent shortseller’s attack on China Minzhong, Sino Grandness’ management has been very responsive and open in dealing with investors’ concerns and readily agreed to hold a conference call with house clients yesterday despite the extremely short notice given to them. In all, the concall was organised within 90 minutes and 20 clients participated. Think the information shared by management was helpful and informative, and should go a long way to calming investor concerns. In house view, the share price drop in the past two days was purely due to fallout from the Minzhong shortselling incident. Fundamentals are still firm and the biggest catalyst, the Garden Fresh IPO, still lies ahead.