SIAE

SIAE: UOB Kay Hian maintains Buy with $5.20 TP. House estimate SIAEC’s final dividend at 15c when it announces its results on 14 May. There is a strong possibility that SIAEC might surprise with a special dividend given that it has a net cash of 39c as at end-3QFY13. Even if that does not materialise, SIAEC’s current yield is attractive in comparison with SATS’ and ST Engineering’s 4.0% and 4.1% respectively.