Monday, July 18, 2016


Acromec: CIMB has unrated note
-Niche mechanical, electrical and process (MEP) service provider specialising in controlled environments, such as cleanrooms, high containment laboratories, etc.
- Listed on 18 April 2016 on Catalist via issuance of 27m new shares.
-Revenue derived from blue-chip clients in Singapore. Minimal FX exposure.
-Company aims to grow via M&A and expansion outside Singapore.
- Acromec trades at CY17 P/E of 9.6x (Bloomberg) versus peer average of 10.7x. The Singapore healthcare sector trades at CY17 P/E of 32.5x.

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