Strategy/Election: UOB Kay Hian examines potential key beneficiaries for upcoming election. Note that the PAP ‘manifestos’ key thrusts include:
1) Widen the range of universities, polytechnics and ITE programmes,
2) Invest S$2.5b in continuous education and training,
3) More new, high-quality and affordable HDB homes,
4) Invest $60b to double Singapore’s MRT networks, and
5) Build new hospitals and partner employers to help elder citizens stay employed.
Identifies key election potential beneficiaries as
Raffles Medical (TP $2.81),
Comfort Delgro (TP $1.80),
SMRT (TP $1.95),
BBR Holdings,
Chip Eng Seng and
Raffles Edu.
However over all, house see limited impact from upcoming election and view any major market weakness on external uncertainties as buying opportunity. Top picks for FY11 are OCBC, OUE, StarHub, Ezion, Keppel Corp, A-REIT and CDLH-T
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