1Q22 revenue/NPI were in line at 24%/24.3% of our FY22F forecasts. Stronger Singapore and Japan contributions due to organic and acquisition growth. Downgrade to Hold with an unchanged TP of S$5.05.
Equity Analysis /
Singapore1Q22 revenue/NPI were in line at 24%/24.3% of our FY22F forecasts. Stronger Singapore and Japan contributions due to organic and acquisition growth. Downgrade to Hold with an unchanged TP of S$5.05.