mm2 Asia kept at ‘buy’ by DBS with 75 cents

SINGAPORE (June 13): DBS Research is maintaining its ‘buy’ recommendation for mm2 Asia, with a target price of 75 cents.

This follows the recent announcement that its subsidiary, UnUsUal Group, has appointed professionals to prepare them for listing on the Catalist board.  The listing will “enable mm2 Asia to crystallise gains and unlock value,” says Ling Lee Keng, an analyst with DBS Research.

mm2 Asia had acquired a 51% stake in UnUsUaL Group for $26 million in February, which comes with a net profit guarantee for three years at $5 million per year. UnUsUal contributes about 15% to group earnings.

---

Related Stories

• Brokers’ Digest: CDL, PropNex, PLife REIT, KIT, SingPost, Grand Banks Yachts, Nio, Frencken, ST Engineering, UOB
• Prospects of better FY2025 earnings inspire new ideas for ThaiBev
• Lim & Tan Securities maintains ‘buy’ on Grand Banks Yachts; almost doubles TP to $1.05

---