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COMPANY RESULTS SELL
(Maintained) Share Price S$4.32 Target Price S$3.50 Upside -18.9% (Previous TP S$3.54) COMPANY DESCRIPTION Aircraft maintenance, repair, and overhaul (MRO) operator. STOCK DATA GICS sector Industrials Bloomberg ticker: SIE SP Shares issued (m): 1,121.1 Market cap (S$m): 4,843.3 Market cap (US$m): 3,580.7 3-mth avg daily t'over (US$m): 1.7 Price Performance (%) 52-week high/lo SIA Engineering (SIE SP) 3QFY15: Sequential Decrease In Top-Line And Further Revenue Warnings 3QFY15 results disappointed amid weak revenue and a 55% yoy reduction in engine maintenance earnings. Management warned of a challenging business environment and we expect continued margin pressure. Maintain SELL. Target price: S$3.50. http://research.uobkayhian.com/content_download.jsp?id=26581&h=a79f393b36fd04bbbdd6d344caba8e11
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