Equity Analysis /
Singapore

SG : ISDN Holdings Ltd - Light at the end of the tunnel

    William Tng
    William Tng

    Small Caps Analyst

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    CGS-CIMB
    13 September 2021
    Published byCGS-CIMB

    ISDN startedits foray into the mini-hydropower plant business in Indonesia around2012-2013. Last week, ISDNannounced that 2 of its mini-hydropower plants have been commissioned. The nextstep is to obtain permits for commercial operations. If successful,the mini-hydropower business could be EPS accretive for FY22F-23F. Spinning offthis business is also a possibility.