Century Sunshine Group Holdings Limited: Credit Initiation Report

We are initiating Century Sunshine Group Holdings Limited (CENSUN) with a Neutral issuer profile. Overall, we believe the company's strong cash flow generation, decent profitability and healthy balance sheet should help alleviate anticipated pressures from margins compression and heavy capital expenditures. We are Overweight on the CENSUN 7.000% 03Jul2020 Corp (SGD), which provides very attractive carry relative to the risk borne and short maturity.

by

iFAST Research Team

Published on 20 Oct 2017