Brokers' take

Mindchamps | Buy Target price: $0.86 April 5 close: S$0.78 KGI Research, April 5

MindChamps is partnering with China First Capital Group (CFCG) to launch a US$200 million fund for opening and acquiring preschools in China.

MindChamps continues to benefit from strong demand in the Singapore preschool market and has presence in other countries such as the UAE, Myanmar or the Philippines. However, we believe the firm's entry into the Chinese market would be the strongest growth driver for MindChamps's revenues going forward.