Thursday, March 12, 2015


Straco: CIMB upgrading to Buy with TP hiked to $1.01 from $0.78. Basically it hinks that Singapore Flyer’s potential was previously underestimated as their forecasts only factored in bottom line contribution in FY17, but the Flyer had already booked in $1.4m PBT in latest 4Q14 results.

The Flyer’s contribution was done by 1) lowering discounts to tour groups, 2) channeling more walk-in visitors, and 3) streamlining costs.

Aside the house also sees a potential ticket price hike at the Shanghai Ocean Aquarium.

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