Soon Hock's Development Pipeline Could Provide Revenue Visibility Through 2029
Dow Jones
Sep 09
0107 GMT - Soon Hock Enterprise's development pipeline could provide revenue visibility through 2029, says UOB Kay Hian's Shaina Kamlesh Mahtani in a note. Piling works for a development in Singapore are likely to commence soon, with the final temporary occupation permit targeted to be received by 2027, the analyst says. Another site's final permit is expected by 1Q 2029, while other redevelopments are in their final design stage.Soon Hock's healthy balance sheet also supports its staggered development pipeline and dividends, the analyst adds. Still, UOB KH cuts its target price to 66 Singapore cents from S$0.71 to reflect lower peer valuations. The brokerage maintains its buy rating. Shares were last at S$0.595.
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