Brokers' take

Singapore Press Holdings | Hold Target price: S$3.41 April 26 close: S$3.47 OCBC Investment Research, April 26

SINGAPORE Press Holdings (SPH) on Tuesday announced that it will acquire Orange Valley Healthcare Pte Ltd for approximately S$164 million.

SPH's management indicates that, with the number of Singaporeans aged above 65 expected to double from 450,000 to 900,000 by 2030 and as family sizes shrink, there will be a surge in single elderly Singaporeans living alone. This will in turn lead to a strong demand for aged-care services ranging from home care, community-based care to nursing homes.