Rowsley

Rowsley: surged in the last hour of trading yday to close up 22% at $0.55, after glowing features by both OCBC and Forbes. OCBC had an internal note, citing positive ke takeaways from the EGM circular. - notes the site will have a high plot ratio of 1:11 if the RTO succeeds, higher than its assumption of 1:10 used in its valuation exercise. - Notes the RSP Group that will be acquired has achieved FY12 net profit of $25.018m, fulfilling the condition precedent for the acquisition to go through - Highlights the 12 mths moratorium for key shareholders Peter Lim and Albert Hong Based on scenario analysis, OCBC values Rowsley at $0.034 if the proposed deal fails, and has a TP of $0.67 - $0.85 per existing share before bonus warrant, if the deal succeeds. Separately, Forbes wrote an article titled “How Singapore Billionaire Peter Lim Makes Money from thin air”, centred on Peter Lim’s latest investment in Iskandar via Rowsley. This should raise international investor awareness on Rowsley stock further.