Monday, September 28, 2015


SIIC: Deutsche reiterates its Buy on valuation grounds, being over 10% discount to peers.

The house cited positive catalysts, which include 50% yoy 2H15E earnings growth, upside from new project acquisitions, asset injection and Hong Kong dual-listing possibly early next year.

However, it cited that the progress and timetable of the injection and listing will be dependent on any developments in major M&A deals under negotiation and the overall market conditions.

The house has a TP of $1.40.

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