OSIM

OSIM: Following an ~12% decline in share price over the last week and a query by SGX in regards to the recent trading activity, OSIM replied that it was not aware of any information not previously announced that might explain the sell-down. There are also currently no on-going discussions regarding any joint ventures, M&As and purchases or sales of any significant assets. Some analysts however guide that the sell-down could possibly be related to bets that OSIM could disappoint on its upcoming quarterly earnings, while others opine that OSIM’s weakness could be in tandem with sell-off seen in a lot of small-mid caps around the region. Separately, in a bid to shore up investor’s confidence, OSIM bought back 650,000 shares via the open market at an average price of $2.326 on 8th Oct ’14. Overall, the street has 9 Buy, 1 Hold and 2 Sell rating on OSIM with a consensus TP of $3.35.