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Sunvic: AmFraser Initiate Coverage - BUY TP: S$1.02.
AmFraser - We initiate coverage on Sunvic Chemical Holdings Ltd with a BUY recommendation and fair value of S$1.02. This represents a 55% premium over the last close price of S$0.66. After studying their listed peers on the SGX and HKEx, we peg a 6x P/E valuation on their FY2010E earnings of S$0.17 to arrive at our FV...
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