buy sell hold 2021


Lim & Tan Securities

Lim & Tan Securities

Mapletree Logistics Trust / MLT ($1.58, up 0.02) announced that HSBC Institutional Trust Services (Singapore) Limited (in its capacity as trustee of MLT) has entered into a Purchase Agreement with Nova Furnishing Holdings Pte. Ltd. for the proposed divestment of 3 Changi
South Lane in Singapore (“the Property”) at a sale price of S$22.0 million.

At $1.58, market cap of Mapletree Logistics Trust is S$7,599.1mln, trailing 12-mth P/E is 9.5x, current P/B is 1.1x and dividend yield is
5.1%. According to Bloomberg consensus, there are ten buys and six hold recommendations on the stock while the average of the various
analysts’ target price on MLT is $1.75, representing a potential upside 2200 of 10.8%.




Singapore Exchange Regulation (SGX RegCo) refers to the Monetary Authority of Singapore (MAS) media release on 31 August 2022, where MAS imposed a $375,000 composition penalty on UOB Kay Hian Private Limited / UOBKH ($1.40, unchanged) for failing to comply with business conduct requirements under the Securities and Futures (Licensing and Conduct of Business) Regulations and anti-money laundering and countering the financing of terrorism requirements under MAS Notice SFA04-N02.


At $1.40, UOBKH is capitalized at $1.24 billion and the company continues to buy back shares in the open market, having bought back 2.308 million shares or 2.673% of its maximum allowed buy back mandate around the $1.30-1.40 level.

Lim & Tan Securities


NIO Inc ($11.33, unchanged), a pioneer and a leading company in the premium smart electric vehicle market, today provided an updated delivery outlook for the fourth quarter of 2022.

The downward adjustment in delivery schedules will likely result in downgrades in earnings estimates and target prices from
Bloomberg consensus. NIO Inc is capitalized at HK$147.7 billion and there is no meaningful PE given that the company is expected to lose HK$10.7 billion in 2022 and HK$6.9 billion in 2023.



Sunway (SWB MK)
Comprehensive ESG disclosures

At above-average in our ESG scores
SWB ranks high on sustainability, with detailed policies in place. While we have assigned it an above-average overall score of 74 based on its aggregated quantitative/qualitative /target-based metrics, SWB needs to make headway in improving its quantitative “E” and “S” metrics particularly the lost-time injury frequency. SWB remains a HOLD with a MYR1.63 TP. Our BUY for the sector are: ECW MK (CP: MYR0.67; TP: MYR0.81), SDPR (CP: MYR0.445, TP: MYR0.58), TILB (CP: MYR0.76, TP: MYR0.86) and ECWI (CP: MYR0.405, TP: MYR0.66). 


Read More ...




Top Glove (TOPG MK)
Expanded ESG assessment

Unable to pass on higher compliance costs
We introduce TOPG’s expanded ESG tear sheet and assign a below average overall score of 47 (over 100) based on its aggregated quantitative/
qualitative/target-based metrics. TOPG has been actively enhancing its human rights and labour practices post the US CBP ban on allegations related to human rights and labour management back in 2020. We maintain our earnings forecasts, MYR0.35 TP (13x CY24E PER) and SELL. 


Read More ...






Advanced Info Service (ADVANC TB)
Healthy revenue and profit growth in 4Q22E

Robust revenue and cost controls to support 4Q

We forecast 4Q22 core net profit of THB6.5b, up 4.2% QoQ thanks to 2.0% revenue growth and a 1.1% drop in SG&A. Mobile revenue, 87.5% of 4Q22E core service revenue, should rise by 1.5% QoQ on healthy postpaid revenue
growth. ADVANC is due to report its 4Q22 results on 9 Feb 2023. Reiterate BUY with an unchanged TP of THB240 (7.6% WACC, 2.0% LTG); ADVANC remains our Top Pick for the sector.


Read More ...





You may also be interested in:


We have 1643 guests and no members online

rss_2 NextInsight - Latest News