Brokers' take

Singapore Post | Buy

April 5 close: S$1.64

Target price: S$2.23

UOB Kay Hian, April 5

Lim Ho Kee will step down as chairman on May 10, 2016 (during its expected FY results announcement) and as director in July 2016 (annual general meeting). Independent director Low Teck Seng will replace Mr Lim as chairman by a unanimous board decision. Following commentaries from independent director Zulkifli bin Baharudin, we anticipate seeing further changes at the board level. While this may spark further uncertainties among investors, in our view, this change in leadership may be a step in the right direction and represent a broade…