buy sell hold 2021

 

CGS CIMB

CGS CIMB

ST Engineering
Significant order wins, improving debt profile


■ Record-high order wins of S$4.8bn (+163% yoy), driven by TransCore and Middle East defence contracts. 4 Scts interim DPS proposed.
■ We expect a c.S$900m reduction in FY23F commercial paper (CPs) from the conversion of floating rate CPs, as well as better operating cashflow.
■ Reiterate Add with a higher TP of S$4.03 (blended valuation) as we roll over to CY24F. Downside risks: project deferrals, further margin erosion.

 

Read More ...

 

Frencken Group Ltd
3Q22 results below expectations


■ 3Q22 revenue of S$195.3m (-0.6% yoy) was 16.6% below our S$234.3m expectation.
■ 3Q22 net profit of S$11.0m (-25.7% yoy) was 24.7% below our S$14.6m expectation. Frencken made a S$2.4m inventory write-down in 3Q22.
■ We downgrade Frencken to Reduce (TP cut to S$0.95) as we think its business environment may only recover from 2H23F.

 

Read More ...

UOB KAYHIAN

UOB KAYHIAN

Singapore Technologies Engineering (STE SP)
3Q22: Revenue A Slight Miss; Ongoing Review To Uplift Quality Of Group Portfolio


9M22 revenue of S$6.5b was a slight miss, at about 69% of our full-year projection. Orderbook stood at a record high of S$23.1b (excluding the disposed US marine businesses) as of end-3Q22, 71% higher than pre-pandemic levels at end-19. Despite the expected higher interest cost pressure, the recent exit of the loss-making US marine businesses and the new contract wins by TransCore should provide meaningful support to STE’s bottom line. Maintain BUY and target price of S$4.07.

 

Read More ... 

 

 

Gaming – Malaysia
Casino Subsector Emerging From Uncertainties


The casino gaming segment is back in vogue, with the formation of a unity government after GE15 jitters (after enduring a hung parliament situation for five days), and GENM’s failed bid for a Macau concession (seen as costly). We remain bullish on the casino segment for its earnings resilience, but are neutral on the NFO segment for its lack of mid- to long-term growth momentum. OVERWEIGHT. Top picks: Genting Malaysia and Genting Berhad. 

 

Read More ...

UOB KAYHIAN UOB KAYHIAN

Axiata (AXIATA MK)
3Q22: Above Expectations Due To Easing Geopolitical Risk


Axiata’s 3Q22 core net profit came in at RM375m (-5% yoy, +13% qoq). Celcom’s net profit rose 13% yoy and 12% qoq on higher prepaid contribution, new acquisitions in Celcom’s B2B business unit and absence of accelerated depreciation yoy. 9M22 core net profit of RM1,077m is deemed above expectations and we raise our 2022 net profit forecast by 16% to reflect the absence of further accelerated depreciation in Celcom. Maintain HOLD. Target price: RM3.50.

 

Read More ...

 

 

 

IOI Corporation (IOI MK)
1QFY23: Results Within Expectations; Strong Downstream Contributions


IOI’s 1QFY23 results came in within our expectations. Downstream performed well, contributing 52% of 1QFY23 PBT, while plantation came in weaker due to lower ASP and lower profit from its associate Bumitama Agri. For 2QFY23, performance is likely to be slightly weaker qoq as downstream margin may be lower while plantation performance could be flattish yoy but better qoq on higher ASP and production may see only a marginal decline qoq. Maintain BUY with a target price of RM4.80.

 

Read More ...


Share Prices

Counter NameLastChange
AEM Holdings3.450-0.110
Avi-Tech Electronics0.280-
Best World2.4300.080
Broadway Ind0.1140.006
China Sunsine0.470-0.005
DISA0.002-0.001
Food Empire0.710-
Fortress Minerals0.360-0.010
Geo Energy Res0.330-0.010
Golden Energy0.790-0.005
GSS Energy0.048-
InnoTek0.505-0.010
ISDN Holdings0.570-0.020
ISOTeam0.099-
IX Biopharma0.122-
Jiutian Chemical0.081-0.002
KSH Holdings0.340-
Leader Env0.062-
Medtecs Intl0.158-0.005
Meta Health0.024-
Nordic Group0.4750.005
Oxley Holdings0.148-
REX International0.225-0.005
Riverstone0.675-0.010
Sinostar PEC0.185-
Southern Alliance Mining0.6000.005
Straco Corp.0.5100.010
Sunpower Group0.370-0.010
The Trendlines0.095-0.001
Totm Technologies0.113-
UG Healthcare0.182-0.005
Uni-Asia Group0.8900.015
Wilmar Intl4.100-0.030
Yangzijiang Shipbldg1.250-0.020

NextInsight RSS

rss_2 NextInsight - Latest News

Online Now

We have 1908 guests and no members online