Image result for buy sell

OCBC SECURITIES CIMB

Thai Beverage: Thesis remains intact

Post FY16 results in late Nov last year, we deemed Thai Beverage’s share price level as attractive and we had upgraded the stock to a buy rating with an unchanged fair value estimate. Despite the near term weakness expected due to the mourning period, we see the Spirits segment staying largely resilient and Beer segment driving steady growth ahead. We are also encouraged by the group’s longer term efforts and diversification plans, which can potentially be accelerated by a corporate restructuring, still slated to happen this year. On a broader view, Thailand continues to hold strong fundamentals in its tourism industry, domestic consumption and investment trends. Against this backdrop, and with advertising efforts likely to resume this year, operating conditions should gradually recover for Thai Beverage, in our view. Our thesis on Thai Bev remains intact, and we reiterate our BUY rating on the stock with a fair value estimate of S$1.01

Viva Industrial Trust

Rose among the thorns

■ VIT is a Singapore-focused business park and industrial trust. Based on Bloomberg estimates, VIT is trading at 9.5% FY17 dividend yield, highest in the sub-sector.

■ Unlike its small-cap counterparts that reported an average 13.4% yoy decline in 3Q16 DPU, VIT registered a 9.7% yoy increase in 3Q16 DPU.

■ Its DPU growth has been driven by acquisitions and AEI at VBP. Management expects DPU growth qoq in next few quarters due to rising contribution from VBP.

■ Risks are:

i) non-renewal by McDermott,

ii) expiry of rental support for UEBHbusiness park component in FY18, and iii) short land lease tenure.

 

Read More ...

 RHB 

Singapore Medical Group

Expanding Into Vietnam’s Private Healthcare Market

SMG, through its 50% owned JV entity SMGIV entered Vietnam’s private healthcare market via a 32%, USD1.6m investment stake in CityClinic Asia (CCAI). This is in-line with its regional expansion strategy for Asia. CCAI reported losses of USD0.4m in FY15, mainly due to initial start-up costs. We do not expect SMG’s FY17F earnings to be materially impacted by this acquisition. We believe SMG’s entry into Vietnam is prudent, similar to what it did when it first entered into the imaging diagnostic business. Maintain BUY with DCF-based TP of SGD0.63 (40% upside).

 

Read More ...

 

 

LionelLim8.16Check out our compilation of Target Prices



You may also be interested in:


You have no rights to post comments

Counter NameLastChange
AEM Holdings2.750-0.030
Avi-Tech Electronics0.250-0.005
Best World1.780-0.030
Broadway Ind0.0890.005
China Sunsine0.385-0.005
ComfortDelGro1.4100.020
Delfi Limited1.040-0.010
Food Empire1.400-0.050
Fortress Minerals0.260-
Geo Energy Res0.415-
GSS Energy0.029-
Hong Leong Finance2.540-
Hongkong Land (USD)3.3400.080
InnoTek0.420-0.005
ISDN Holdings0.3500.005
ISOTeam0.035-0.001
IX Biopharma0.043-
Jiutian Chemical0.0270.001
KSH Holdings0.240-
Leader Env0.053-
Medtecs Intl0.139-0.002
Nordic Group0.350-
Oxley Holdings0.092-0.001
REX International0.1280.001
Riverstone0.730-0.025
Sinostar PEC0.140-
Southern Alliance Mining0.580-0.005
Straco Corp.0.510-0.005
Sunpower Group0.210-
The Trendlines0.086-
Totm Technologies0.026-0.001
Uni-Asia Group0.865-0.035
Wilmar Intl3.3000.060
Yangzijiang Shipbldg1.680-0.010
 

We have 719 guests and no members online

rss_2 NextInsight - Latest News