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15-11-2008, 11:56 AM

abhinav2492 abhinav2492 is offline

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Lion Asiapac Limited - By SGX Research Incentive Scheme

Recommendation – maintain HOLD

• SGX have set the target price at S$0.15, which they believe is extremely
conservative as:
• Lion Asiapac have written-off the entire value of its assets for sale and
• They peg a 30% discount to the adjusted book value per share as is typical for conglomerates.
• With 11.1% upside, we maintain our HOLD recommendation.

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