Paul Chew, an analyst from Phillip Securities, maintained the Buy rating on HRnetGroup Ltd.. The associated price target is S$0.78.
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Paul Chew has given his Buy rating due to a combination of factors that highlight HRnetGroup Ltd.’s potential for growth and stability. Despite a challenging environment in Singapore, where gross profits have declined, the company has shown resilience and adaptability. The North Asian market, particularly in Taiwan, has demonstrated a positive turnaround with growth in professional recruitment, driven by demand in technology roles.
Furthermore, HRnetGroup is strategically expanding its flexible hiring services across China, Malaysia, and Indonesia, leveraging its strong balance sheet and operational excellence. The attractive dividend yield of 5.8%, supported by a substantial cash reserve, adds to the investment appeal. These factors, combined with the company’s ability to capture opportunities in senior executive recruitment, underpin the Buy recommendation.