Sunday 8 May 2016

Wing Tai - Maybank Kim Eng 2016-05-09: Overhang from Looming Deadlines

Wing Tai - Maybank Kim Eng 2016-05-09: Overhang from Looming Deadlines WING TAI HLDGS LTD W05.SI 

Wing Tai (WINGT SP) - Overhang from Looming Deadlines 


Maintain HOLD, TP SGD1.93 

  • 3Q16 below expectations on weaker profit margins. 
  • Home sales at mid to high-end projects still slow and will face critical sales deadlines soon. Without better visibility, this remains a stock overhang. 
  • Maintain HOLD and SGD1.93 TP, 16% below RNAV of SGD2.29. 
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