Kreuz Holdings

Kreuz Holdings: DBSV maintains Buy with a higher TP of $0.78. House note that 1Q13 earnings for Kreuz Holdings in line; and the group is on track for another growth year. Prudent balance between chasing growth and pace of adding assets should reap benefits over the cycle. Kreuz is still cheap at just 6x FY13F PE despite strong run. Maintain BUY with a higher TP of $0.78 (Prev $ 0.58)