Research from SooChow CSSD Capital Markets (Asia), SCCM Asia Research

SCCM Asia Research

Headquartered in Singapore, SooChow CSSD Capital Markets (Asia) is an investment bank focusing on emerging growth companies across Asia, providing a full suite of investment banking services, including corporate finance, mergers and acquisitions advisory, equity capital markets, institutional equities sales and trading and equities research.

Research from SooChow CSSD Capital Markets (Asia)

SooChow CSSD Capital Markets (Asia)

Equity Bottom-Up

<div><div><div><ul><li>3Q21 results saw an uptick: 9M21 revenue/NPAT continued to be battered by Covid- 19, slipping 5%/14% YoY, respectively to S$35.9m/S$4.3m or 65%/93% of our trimmed FY21E estimates.</li></ul><div><ul><li>Site visit to Raffles City Singapore (RCS) sales booth: Management shared that it had recently opened a point-of-sales presence at RCS, level 3, inside Mummy’s Market.</li></ul><div><div><div><ul><li>New shareholders could provide new impetus/guidance: Based on exchange filings, CLGL saw married trades for 71.5m shares at S$0.52 apiece (S$37.2m) between Hon Kwok Lung (vendor) and TransGlobal (acquirer).</li></ul></div></div></div></div></div></div></div>

3Q21 results saw an uptick: 9M21 revenue/NPAT continued to be battered by Covid- 19, slipping 5%/14% YoY, respectively to S$35.9m/S$4.3m or 65%/93% of our trimmed FY21E estimates.Site visit to Raffles City Singapore (RCS) sales booth: Management shared that it had recently opened a point-of-sales presence at RCS, level 3, inside Mummy’s Market.New shareholders could provide new impetus/guidance: Based on exchange filings, CLGL saw married trades for 71.5m shares at S$0.52 apiece (S$37.2m) between Hon Kwok Lung (vendor) and TransGlobal (acquirer).

SCCM | Cordlife Group (CLGL SP) - 3Q21 Results Saw Uptick