The wait is over
? YZJ’s spin-off group is named YZJ Financial Holdings Ltd (YZJFH). EGM for
the approval of the spin-off will be held on 18 Apr 2022 at 4pm.
? We expect YZJFH to be listed by end of April. S$1bn will be deployed in
Singapore in investment and fund/wealth management.
? YZJFH will focus on pre-IPO, clean/new energy, strategic investments in the
shipping industry, new economy, student housing, data-centre, SPAC pipe.
? Maintain Add and upgrade our TP to S$2.41, based on SOP valuations of
pro-forma core shipbuilding business and YZJFH.