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Design Studio – Key beneficiary of the recent surge in residential sales
DS has successfully transformed itself from a local furniture manufacturer to a global product specialist with in-house brands. It is poised for a quantum leap given the strong demand for hotel fit-outs, growing overseas traction and potential mega contract wins. Despite its robust growth momentum, valuation is a steal, at just 3.9x (ex-cash) FY10 PER, a sharp discount to its peers!DS outshines its peers with the successful creation of in-house products and exclusive distributorship of renowned international brands. Besides achieving better margins, its in-house brands offer customisation and competitive pricing that are well sought after globally. With leading developers such as City Dev and SC Global as repeat customers, DS is poised to benefit from the recent pick up in private residential launches.To prepare for the debut of the IRs, many existing hotels are rushing to refurbish their rooms to capture rising demand and premium room rates. With a decade of experience in fitting out hotel rooms, DS will be
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