Image result for buy sell hold


Singapore Press Holdings Under press-ure


■ FY8/17 core net profit of S$239m (-15% yoy) was within expectations.

■ One-off divestment and revaluation gains masked underlying weakness (media PBT down 42%), while total impairment climbed to S$96m in FY17.

■ SPH’s FY17 DPS of 15 Scts was below expectations and its fifth consecutive dividend cut, lowering its appeal as a dividend play.

■ Restructuring plans not only involve staff reduction, but also investments in new capabilities, and expansion of its reach and portfolio.

■ Maintain Reduce with unchanged SOP-based TP of S$2.38 as we roll forward our valuation and introduce FY20F forecasts


Read More ...

Venture Corp: Strong growth momentum to continue


Venture Corporation Ltd (VMS) posted strong double-digit YoY revenue growth over the past three quarters, and even more impressively, it recorded double-digit YoY growth in its PATMI over the past eight quarters, driven by margins expansion that we expect to persist going forward. And since FY12, VMS has consistently posted stronger 2H results compared to 1H, a trend which we expect to continue in FY17 as well. Hence, all things considered we are raising our FY17–FY21 PATMI forecasts by 10%–15%. Separately, we believe VMS CEO’s, Mr. Wong, recent open market purchases of VMS’s shares provide a very clear positive signal of his confidence over where he believes the company is heading towards. Consequently, as we factor in for a stronger 2H in FY17 on the back of continued margins expansion, our FV increases from S$14.80 to S$20.33. Reiterate BUY on VMS. Given its outstanding results for the past few quarters, solid balance sheet and sanguine outlook, we believe there is much scope for VMS to potentially increase its dividend, which has ranged between S$0.50 to S$0.55/share since FY08.


Spackman Entertainment Group

Transforming Through Acquisitions


Spackman has announced the acquisition of Take Pictures for a total consideration of SGD3.9m, payable via SGD0.59m in cash and the issuance of 25.7m new Spackman shares at a premium price of SGD0.13/share. It also bought back SMG stock at USD3/share, for a total of USD2.7m, payable by issuing 28.45m new Spackman shares, also at SGD0.13/share. With the expected dilution, our TP dips to SGD0.20 (from SGD0.23, 67% upside). However, with its greater capacity to produce more movies coupled with the strong pipeline of new movies to be launched in 2018, we maintain our BUY call on the stock.


Read More ...



StarHub (STH SP)

Bulking Up With Broader Capabilities


StarHub has strengthened its post-paid mobile plans with unlimited data over weekends. iPhone X would be available on 3 November but would result in higher handset subsidies in 4Q17 and 1Q18. The revamped leadership and acquisition of Accel Systems & Technologies would strengthen growth at the Fixed Enterprise Group. Maintain HOLD. Target price: S$2.62. Entry price: S$2.38.


Read More ...

LionelLim8.16Check out our compilation of Target Prices

Share Prices

Counter NameLastChange
AEM Holdings7.020-0.130
Alliance Mineral0.3800.005
Avi-Tech Electronics0.505-0.005
Best World Int.1.770-0.080
China Sunsine1.4500.010
DISA Limited0.008-0.001
Dutech Holdings0.2600.005
Federal Int. (2000)0.385-
Food Empire0.675-
Geo Energy0.225-
Golden Energy0.3800.005
GSS Energy0.1710.001
Heeton Holdings0.570-
KSH Holdings0.690-0.010
Lian Beng Group0.660-0.010
Nordic Group0.5750.005
Oxley Holdings0.5250.005
REX International0.0510.001
Serial System0.172-
Sing Holdings0.4300.005
Sino Grandness0.2000.003
Straco Corp.0.775-0.010
Sunningdale Tech1.930-0.020
Sunpower Group0.5800.015
The Trendlines0.1270.002
Tiong Seng0.390-0.005
Trek 2000 Int.0.2600.005
Uni-Asia Group1.4100.010
XMH Holdings0.260-
Yangzijiang Shipbldg1.270-0.030

NextInsight RSS

rss_2 NextInsight - Latest News

Online Now

We have 1296 guests and no members online