SMRT CORPORATION LTD
S53.SI
SMRT Corporation: News report on potential buyout by Temasek
- After SMRT announced yesterday the continuation of its trading halt pending possible announcement, Bloomberg published an article, which wrote that Temasek Holdings is "considering a buyout offer for SMRT, a person with knowledge of the matter said".
- Recall SMRT announced last Friday details of the new rail financing framework to commence 1 Oct 16, and we think the way the framework is structured may not be a good deal for SMRT (refer to our 18 July report on SMRT).
- At this point in time, with SMRT still on trading halt and no further announcement made to confirm this news report, maintain HOLD with an unchanged FV of S$1.45.
Eugene Chua
OCBC Securities
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http://www.ocbcresearch.com/
2016-07-19
OCBC Securities
Analyst Report
1.45
Same
1.45
