The Business Times
business-time-50
Asean Business logo
SPONSORED BYUOB logo
SUBSCRIBERS

Higher upside potential for Bukalapak amid push for profitability, DBS says

google-preferred-sourceAdd BT as a preferred source
Vivienne Tay

Vivienne Tay

Published Tue, Mar 21, 2023 · 02:20 PM
    • DBS has “buy” calls for Sea and Bukalapak and a “hold” call for Grab.
    • DBS has “buy” calls for Sea and Bukalapak and a “hold” call for Grab. PHOTO: PIXABAY

    DeeperDive is a beta AI feature. Refer to full articles for the facts.

    DBS Group Research expects higher upside potential for Bukalapak versus Sea and Grab among listed Asean Internet players, it said in a report on Monday (Mar 20).

    The research team likes Bukalapak for its “rock-bottom valuation”, in view of a potential re-rating in nine to 12 months when the group’s adjusted earnings before interest, taxes, depreciation and amortisation (Ebitda) break even.

    It currently has a target price of 355 rupiah for Bukalapak, implying a potential 57 per cent upside from the counter’s last trading price of 226 rupiah as at 11.29 am on Tuesday. Bukalapak’s shares were trading 1.8 per cent or four rupiah higher then.

    Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.

    E-commerceInternetSea LtdBukalapakGrabGoTo Group

    Copyright SPH Media. All rights reserved.

    Reuse this contentFeedback

    TRENDING NOW

    The yen weakened to a low of 125.33 yen per Singdollar on April 13, before recovering slightly to about 124.91 on April 15.

    Singaporeans can now buy record amount of yen per Singdollar

    Chinese Foreign Minister Wang Yi stopped short of explicitly naming the US or Israel as aggressors, a telling omission from a country that otherwise speaks with little diplomatic timidity.

    Beijing’s calculated silence on the Iran war 

    US President Donald Trump (left) with Chinese President Xi Jinping at a bilateral meeting on the sidelines of the Apec summit in Busan last October.

    China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result

    With the move, Ensign InfoSecurity will be reclassified as an associated company of StarHub, rather than a subsidiary.

    StarHub hands Ensign InfoSecurity control back to Temasek in S$115 million deal, books S$200 million gain

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More