ST Engg: subsidiaries are involved in the GKC.
i)ST Electronics and China’s Suntek Tech will jointly invest in an R&D Centre and implementation platform for the Network Integration, Cloud Computing and Integrated operations Centre within GKC. ST Electronics will provide system integration...
ii) ST Kinetics and strategic partners (Hitachi, Bakai electric, Xuji Group, Xianmen Jinlong) will establish a HQ for their Electric Vehicles cluster, and R&D Centre, testing centre and other related services within GKC. ST Kinetics will take charge of Eletric Vehicles systems integration...
Deutsche yday reiterated Buy with $3.95 TP. Says, at 14.6x fwd P/E, group is trading close to its crisis low valuations of 16.1x average P/E over 2008/09, despite stronger fundamentals. Says the recent share price weakness has created an attractive buying opportunity, considering the group’s strong cash- generating abilities, experienced mgt and healthy dividends.
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