Investment Highlights

NRA Capital initiate coverage on GRP Limited (“GRP”) with a HOLD rating and a target price of $0.154.

Established reputation. GRP has a recognized reputation and a long-term working relationship with its customers. It has been in its Hose & Marine business since 1977 and it operates its Measuring Instrument business through its subsidiary, Region Suppliers Pte Ltd (Region Suppliers) which has been operating since 1976.

No catalyst for growth, but otherwise a good dividend stock. With no clear catalyst for growth, NRA Capital do not expect GRP to grow much in the size and scale of its business. Nevertheless, GRP makes a good dividend stock given that it pays out quite a substantial chunk of its net profit as dividends.