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24-04-2013, 12:08 PM
CIMB report, rating UNDERPERFORM, with TP of $0.63
The above developments have strengthened Tiger’s balance sheet and should limit the drag on its cash by associates. A stronger partner in Australia should also give Tiger Australia a much-needed boost to compete with the incumbent giant, Jetstar. We had earlier estimated breakeven for Tiger Australia by FY14. However, we remain wary of the cash burn by associates in Indonesia and
the Philippines, which in the most optimistic case should only break even in three years’ time. This means that the capital raised would still need to be ploughed into loss-making operations.
http://remisiers.org/cms_images/research...13cimb.pdf
The above developments have strengthened Tiger’s balance sheet and should limit the drag on its cash by associates. A stronger partner in Australia should also give Tiger Australia a much-needed boost to compete with the incumbent giant, Jetstar. We had earlier estimated breakeven for Tiger Australia by FY14. However, we remain wary of the cash burn by associates in Indonesia and
the Philippines, which in the most optimistic case should only break even in three years’ time. This means that the capital raised would still need to be ploughed into loss-making operations.
http://remisiers.org/cms_images/research...13cimb.pdf
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