Overseas Education

Overseas Education: UOB Kay Hian initaites coverage with Buy Call and $0.88 TP. Note that OEL is one of four Singapore-listed education service providers and is the investment holding company of Overseas Family School (OFS), he third-largest foreign system school (FSS) in the country. Backed by a 20-year history, OFS continues to benefit from resilient demand for quality education as Singapore’s foreign talent population grows. It is set to increase its capacity by 22% with the potential opening of a new campus in 2015. Its strong cash flow and balance sheet will support the expansion strategy and its dividend payout policy of 50%.