SINGAPORE (July 12): UOB is maintaining its “buy” call for China Aviation Oil (CAO), with a target price of $1.85. This comes on the back of increased optimism arising from the group’s stake in the exclusive refueller for Shanghai Pudong International Airport (SPIA), according to a Tuesday report.

Slated to be one of the world’s top three busiest airports in 2019, SPIA is a fast growing hub for both passenger and cargo traffic.

The opening of Shanghai Disneyland is expected to draw 3 million more air passengers annually, says UOB analyst Edison Chen. More is expected once expansion work for Disneyland has been completed, he adds.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
Related Stories

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook