ANALYSTS SAY: Buy, Sell, Hold (9 Feb)

buy sell hold 2021

CGS CIMB	CGS CIMB
Ascendas REIT Strength through diversification ■ 2H/FY21 DPU of 7.598/15.258 Scts in line, at 49/1%/987% of our FY21 forecast. ■ It saw healthy improvement in portfolio occupancy to 93.2%, and achieved positive rental reversion of 4.5% for FY21. ■ Reiterate Add, with a lower DDM-based TP of S$3.20. Read More ...	Frasers Logistics & Commercial Trust Tailwinds for inorganic growth ■ Frasers Logistics & Commercial Trust’s (FLCT’s) portfolio occupancy improved in 1QFY9/22, moderated by negative reversions. ■ Financial metrics improved post asset divestments. ■ We reiterate our Add rating with a lower DDM-based TP of S$1.56. Read More ...
UOB KAYHIAN	PHILLIP SECURITIES
UMS Holdings (UMSH SP) 2021 To Mark Record Year UMS’ upcoming 4Q21 results should reflect a production normalisation following the COVID-19-related disruption at the Penang factory in 2Q and 3Q. Our revised 4Q21 estimated net profit of S$16.6m looks achievable, supported by healthy orders and deliveries at key client Applied Materials. The demand-supply imbalance from new technology innovations portends a bright outlook for 2022-23, implying attractive valuations. Maintain BUY with a slightly higher target price of S$1.80. Read More ...	Singapore Banking Monthly – Interest rates down in January January’s 3M-SOR down MoM, 3M-SIBOR remains flat. Hong Kong’s domestic loans growth increased 3.79% YoY in December. Malaysia’s domestic loans growth increased 4.51% YoY and rose 0.53% MoM in December. Our 4Q21e PATMI estimates are: DBS (S$1.4bn), UOB (S$1.3bn) and OCBC (S$1.1bn). Valuations for OCBC are the most attractive and largest upside surprise from dividends. Maintain OVERWEIGHT. We remain positive on banks. Bank dividend yields are attractive with upside surprise due to excess capital ratios. Improving economic conditions and rising interest rates remain tailwinds for the banking sector. SGX is another beneficiary of higher interest rates. Read More ...

Counter Name	Last	Change
AEM Holdings	1.870	0.030
Best World	2.500	0.020
Boustead Singapore	0.950	-
Broadway Ind	0.145	-
China Aviation Oil (S)	0.870	0.005
China Sunsine	0.405	0.015
ComfortDelGro	1.370	-0.020
Delfi Limited	0.875	-
Food Empire	1.100	-0.020
Fortress Minerals	0.295	-0.015
Geo Energy Res	0.300	-
Hong Leong Finance	2.440	0.020
Hongkong Land (USD)	3.530	0.110
InnoTek	0.515	0.010
ISDN Holdings	0.310	0.010
ISOTeam	0.049	0.002
IX Biopharma	0.040	0.001
KSH Holdings	0.245	-
Leader Env	0.049	-
Ley Choon	0.055	-
Marco Polo Marine	0.068	-
Mermaid Maritime	0.138	0.003
Nordic Group	0.300	-0.005
Oxley Holdings	0.088	-0.002
REX International	0.125	0.001
Riverstone	0.935	0.005
Southern Alliance Mining	0.485	0.005
Straco Corp.	0.480	-0.010
Sunpower Group	0.220	-0.010
The Trendlines	0.063	-
Totm Technologies	0.020	0.001
Uni-Asia Group	0.810	-
Wilmar Intl	3.120	-0.040
Yangzijiang Shipbldg	1.730	-0.020

Counter Name

Last

Change

AEM Holdings

1.870

0.030

Best World

2.500

0.020

Boustead Singapore

0.950

Broadway Ind