buy sell hold 2021




Riverstone Holdings (RSTON SP)
3Q22: Underperformance As Headwinds Persist; Ceasing Coverage

For 3Q22, net profit was below expectations, dragged by falling ASPs and moderating demand for healthcare gloves. The healthcare glove segment faces ongoing headwinds due to an unfavourable demand-supply imbalance. Cleanroom gloves remained resilient in 3Q22 with ASPs holding steady, although demand is expected to soften slightly in 4Q22 due to the ongoing zero-COVID policy in China. With no immediate catalysts, we will be ceasing coverage on Riverstone. The last call is HOLD. Target price: $0.67.


Read More ...



Banking – Malaysia
Diminishing Earnings Tailwinds; Downgrade To MARKET WEIGHT

The sector delivered a robust earnings growth of 20% yoy in 3Q22 on lower provisions and NIM expansion. However, earnings tailwinds are expected to dissipate as we approach the tail end of the interest rate upcycle coupled with moderating loans growth. This has prompted us to downgrade the sector from OVERWEIGHT to MARKET WEIGHT with the sector now trading close to its historical mean P/B. Our two sector top picks are CIMB and Public Bank. 


Read More ...



Yinson (YNS MK)
Project FPSO Agogo Officially Starts; FPSO PAJ To Be Next

We are positive on FPSO Agogo’s progress. Although it is not a final contract announcement as the client is a recently-formed JV entity, the agreement has essentially kick-started the project, with secured client prepayments to cover for major project milestones. The follow-on final contract may have returns significantly above our and the market’s earlier expectations. FPSO PAJ (under the same client) may be the next FPSO to see updates. Maintain BUY. Increase target price to RM4.45.


Read More ... 





CapitaLand Ascott Trust (CLAS SP)
ESG bellwether

Highest ESG2.0 score among hospitality REITs
CLAS leads the sector pack with the highest ESG 2.0 score of 69. It is setting the benchmark due to commencement of green leasing and green financing. Further, higher usage of renewable energy and recycled water, improvement in energy and water intensity and superior composition of board has also helped the relative scoring. That said, work place safety and diversity can be improved further. We like CLAS’ diversified portfolio, concentrated longer-stay assets and a strong balance sheet. BUY. 


Read More ...


CapitaLand Int. Comm. Trust (CICT SP)
Sustainability at the core

Top quartile ESG score

CICT achieved an ESG 2.0 score of 66, which is above average and among the top 3 scorers on our ESG assessment scoring. CICT’s long-term ESG targets are aligned to science-based goals in its sponsor’s 2030 Sustainability Master Plan. The trust is well on its way to achieve its desired environmental targets of reduction in energy, water and carbon emissions intensity. That said, there is room for improvement towards a safer work place and better environmental compliance. CICT is the proxy for Singapore commercial real estate and a beneficiary of reopening as well as resilient domestic consumption. BUY.


Read More ... 













CapitaLand Investment Ltd (CLI SP)
Racing towards net zero

Leading ESG score

CLI achieved an ESG 2.0 score of 68, setting the pace for peers. The real estate investment manager has an established ESG framework, internal policies and measurable targets. From the start of this year, its sustainability effort is now overseen by a full board committee chaired by Lead Independent Director (vs. previous Board sub-committee). In May this year, CLI elevated its commitment to sustainability by aiming to achieve net zero emissions by 2050. The new net zero commitment builds on existing sustainability targets outlined in CapitaLand’s 2030 Sustainability Master Plan. On the business front, CLI will benefit from accelerating growth of funds under management, ongoing RevPAU recovery and higher fee-related earnings. Maintain BUY. 


Read More ...

You may also be interested in:

You have no rights to post comments

Counter NameLastChange
AEM Holdings2.3400.040
Avi-Tech Electronics0.260-0.005
Best World1.7400.040
Broadway Ind0.095-0.001
China Sunsine0.380-0.010
Delfi Limited0.9400.010
Food Empire1.400-0.020
Fortress Minerals0.280-
Geo Energy Res0.350-0.010
GSS Energy0.027-
Hong Leong Finance2.4800.010
Hongkong Land (USD)3.080-0.070
ISDN Holdings0.310-0.010
IX Biopharma0.0460.005
Jiutian Chemical0.0250.001
KSH Holdings0.250-
Leader Env0.050-
Medtecs Intl0.1330.002
Nordic Group0.335-
Oxley Holdings0.0910.001
REX International0.138-0.008
Sinostar PEC0.125-0.010
Southern Alliance Mining0.600-
Straco Corp.0.500-
Sunpower Group0.220-
The Trendlines0.084-0.001
Totm Technologies0.0220.001
Uni-Asia Group0.800-0.015
Wilmar Intl3.330-0.030
Yangzijiang Shipbldg1.7900.010

We have 944 guests and 2 members online

rss_2 NextInsight - Latest News