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Stamford Land - By SIAS
Analysis & Recommendation
SIAS estimate FY09 hotel revenue to be around $218.3m as opposed to $232.2m in FY08. 1H09 hotel revenue was $112.6m. Currency fluctuations may also result in different translated values in its end of financial year results.
SIAS forecast FY09 trading revenue to be around $10.6m, down from $14.8m in FY08. 1H09 trading revenue was $5.6m. At 25 cents and 1H09 NAV of 45 cents, Stamford Land is trading at a PB of 0.55.
Target Price S$0.50
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