UOB KAYHIAN | OCBC |
DUTY FREE INTERNATIONAL (DFIL SP) 2QFY18 Results: Still Seeing Weakness In Thai-Malaysian Border
DFIL reported its 2QFY18 results with revenue falling 5.5% yoy due to persistent weakness in the Thailand-Malaysian border from the implementation of GST in border towns. The group has declared a 0.5 S cent dividend to make up for the dividend cut in 1QFY18 and also bought back shares in 2Q18. Maintain HOLD with a slightly lower PE-based target price of S$0.33 (previously S$0.37) as we await more clarity on the situation in Thailand. Entry price: S$0.26.
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Singapore Press Holdings: FY17 earnings within expectations
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DBS VICKERS | |
Market Focus Checking up gains
Recent interest pick-up in O&M sector can continue on rig market recovery and higher oil prices Brent to average at c.US$60pbl in 2018, charts point to US$75pbl by 2H18 Prefer big cap rigbuilders POSH or nothing for OSVs
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MAYBANK KIM ENG | |
iFAST Corporation (IFAST SP) A leading investment products supermarket Catering to customer convenience
iFAST is one of Singapore’s early movers engaged in the distribution and administration of a wide suite of investment products from various thirdparty providers and across different asset classes on one platform. Providing the convenience of a one-stop shop for investors has driven 9% revenue CAGR for FY12-FY16. The company is optimistic about being able to continue to grow its assets under administration (AUA) over the medium term from a combination of higher penetration in its home market Singapore, further ramp-up in overseas operations in Malaysia, Hong Kong and China, and potential cross-selling opportunities.
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