Thursday, June 23, 2011
Mencast
Mencast: CIMB maintains Buy with TP $0.70. Note that Mencast continues its expansion strategy with the proposed acquisition of Unidive Marine Services for $14.85m. The acquisition of Unidive adds another earnings-accretive company under for the group. TP still set at S$0.70, pegged at 9x CY12.
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