Brokers' take

Fu Yu Corp | Buy (maintained) April 15 close: S$0.210 Target price: S$0.285 UOB Kay Hian, April 15

Fu Yu's conservative accounting policy in recognising its properties at book value has undervalued the assets by S$50 million, or 33 per cent of its market cap, based on its 2018 annual report.

We believe any potential disposal of properties to further streamline its operations could unlock hidden value and reduce operational costs.