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Cordlife Group update
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asean_investor
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23-Sep-2013 12:06
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Cordlife Group is a leading Singapore-based private cord blood bank. Established in May 2001, it is renowned as one of the first private cord blood banks to be established in Asia. It currently owns and operates 2 stem cell banks with full processing and cryopreservation storage facilities in Singapore and Hong Kong. With 72% market share in private cord blood banking in Singapore, it is the largest private player, and 2nd largest in Hongkong with 28% market share. It is also present in India, Indonesia and the Philippines through its affiliates. Recently the Companybought 10% stake in China Cord Blood Corporation (CCBC) to expand its geographical reach. At current trading price ofSGD 1.07, the stock trades at 20.5x PE, 2013E which seems to beundervalued given its promising growth prospects, dominant domestic market position and strong presence abroad. The company?s promising business and revenue model coupledwarrant valuation close to local and global peers if not better. A trading range of 2014E, PE of 23-24x should be in line with peers at which the stock price be SGD1.29-1.35, providing an upside of more than 20% at lower end of TP. See more: http://www.asean-investor.com/cordlife-group-update/ |
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