Trendlines

Trendlines: (S$0.177) Not for the faint hearted given risky nature of technology start-ups
-Trendlines assists technology start-ups in medical devices, agricultural and food industries grow their business with eventual aim of monetizing its investments through a sale via M&A or public listing.
-Dependent on sale of investments to generate operating cashflow, so a lack of disposals could create liquidity problems.
-Looking ahead, three medtech companies are currently at exit stage, which may be a catalyst for a re-rating.
-However, the business is risky in nature, due to high failure rate of technology start-ups
-Trading at 0.8x P/B, vs similarly sized peers at 1x P/B