China Everbright Water - RHB Invest 2015-12-02: Waters Run Deep
CHINA EVERBRIGHT WATER LIMITED U9E.SI China Everbright Water (CEWL SP) - Still Waters Run Deep
- We expect CEWL to ramp-up its operational capacity and pursue new capacity acquisitions in 2016, as HanKore and CEI have been inactive in the water space for some time.
- Maintain BUY with a SGD0.81 TP (from SGD1.19, 19% upside) as we believe the reverse takeover of HanKore and the spinning off of CEI’s waste water arm allows the new enlarged firm to focus more on growing capacity going into next year.
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