Industrial automation is here to stay
■ ISDN’s 1H21 core net profit was in line with our expectation at 50% of our
FY21F net profit forecast.
■ ISDN hopes that two out of its three mini-hydro power plants in Indonesia
would be operational by end-2021.
■ We reiterate our Add call on ISDN given the continuing demand for industrial
automation solutions. Our TP rises slightly to S$0.85.