The company is Singapore-listed but its operations are largely China-based, and the pandemic-related lockdown has affected its activities. DBS notes that the Singdollar has appreciated against the RMB by around 5% this year.
DBS notes that it has yet to factor in potential earnings contribution from the resumption of three concerts to be produced or jointly produced by GHY later this year, given how large-scale live entertainment events are allowed with easing of the pandemic measures.
They include a night concert in August for Power Station, a Taiwanese band; a one night concert in November for Guns N Roses, an American hard rock band and a two-night concert in December for Jay Chou, a Taiwanese singer-cum songwriter.
GHY shares closed at 47 cents on Aug 8, unchanged for the day.
