Brokers' take

Yoma Strategic Holdings | Hold Target price: S$0.54 May 25 close: S$0.60 OCBC Investment Research, May 25

Yoma's Q4 FY17 price after tax and minority interests increased to S$24.1 million, up from S$8.9 million in the same period last year mostly due to higher fair value gains on investment properties and improved gross profit margins driven by the sales of residences and land development rights (LDRs) in Q4 FY17 (as compared to mostly sale of buyback units in StarCity in Q4 FY16).

In terms of the topline, FY2017 revenues increased 11 per cent to S$124.2 million. Notably, about 47 per cent of revenues were attributed to the Yoma's non real estate businesses which points to management's diversification efforts bearing fruit.