Kimly - A Prime Heartlands Gem
- Koufu (SGX:VL6) received cash offer of S$0.77/share from its founders to take it private, making it possibly the 3rd F&B company to delist from SGX since 2020. See Koufu's announcements.
- The implied valuation for Koufu is 16x CY22F P/E; we view this as positive to Kimly (SGX:1D0), which currently trades at a notable discount of ~13x.
- Kimly is also in a net cash position, rides on structural growth trends, and offers a sustainable dividend yield of ~4%.
- Reiterate ADD call on Kimly with target price of S$0.56.
Above is the excerpt from research report by CGS-CIMB.
Clients of CGS-CIMB may access the full report in PDF @ https://www.itradecimb.com.sg/.
LIM Siew Khee CGS-CIMB Research | https://www.cgs-cimb.com 2022-01-03 2022-01-03
Previous report by CGS-CIMB:
2021-11-25 Kimly - Fresher Flavours
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