Image result for buy sell hold

OCBC CIMB

UOL Group: Boost from UIC consolidation

 

The group’s net attributable profits, excluding other gains, for the quarter increased 8% YoY to S$90.9m. 3Q17 PATMI increased from S$91.5m to S$639.7m as a result of accounting for UIC as a subsidiary following the group’s acquisition of 60m UIC shares in August. In addition to a turnaround in domestic home prices, management also expects office rents to stabilize ahead while the retail sector is expected to remain under pressure. In the hospitality sector in Asia Pacific, UOL also highlights competitive pressures and an oversupply of rooms, particularly in China and Myanmar. The group recently acquired Nanak Mansions in Meyer Road for S$201.1m through an en-bloc transaction with a 50-50 JV with Kheng Long. We understand the transaction will likely be completed in Dec 2017. We update our valuation model for latest results and firmer assumptions and our fair value estimate rises to S$9.70 versus S$9.01 previously. Maintain BUY.

 

Memtech International 3Q17: a turbo-charged quarter

 

■ MTEC’s 3Q17 core net profit of US$4.2m (+32% yoy, +114% qoq) was above our expectations. 9M17 core net profit formed 81% of our full-year forecast.

■ The muted revenue in 3Q17 was partly due to a more selective uptake of CE projects, but management remains optimistic on its core pillars in AU and CE.

■ Gross margin gained 7% pts from better product mix and operational efficiency.

■ Maintain Add with higher FY17-19F EPS and TP as we roll over our valuation to endFY19 P/E (pegged to 10x). MTEC offers a 4-5% forecast dividend yield.

 

Read More ...

UOB KAYHIAN

ComfortDelGro Corporation

(CD SP) 9M17: Broadly In Line. Coping Well Amid Revenue Pressure

 

CD’s 3Q17 results were in line with our expectations, with 9M17 net profit of S$242m which fell 2% yoy. 9M17 operating profit fell 10% yoy but lower minorities, taxes and higher investment income helped limit the decline. We trim 2018-19 earnings forecasts by up to 4% to build in more conservative taxi and rail assumptions. Maintain BUY with a lower PE-based target of S$2.25 (previously S$2.34). A catalyst could be its potential alliance with Uber.

 

Read More ...

 

DBS

Singapore Medical Group Ltd

Robust growth prognosis

 

 Initiate coverage with BUY and TP of S$0.75 on the back of continued robust growth post a successful turnaround

 Project net profit growth of 292%/32% on ramp-up in diagnostics, recent acquisitions, and margin improvements

 Further re-rating catalysts to come from acquisitions, better operating performance and overseas ventures

 TP based on 25x FY18F/19F PE

Read More ...


LionelLim8.16Check out our compilation of Target Prices




Share Prices

Counter NameLastChange
AEM Holdings6.3600.320
Alliance Mineral0.4000.005
AusGroup0.0510.002
Avi-Tech Electronics0.5100.010
Best World Int.1.3600.010
China Sunsine1.300-0.010
DISA Limited0.012-
Dutech Holdings0.320-0.005
Federal Int. (2000)0.390-
Food Empire0.6550.005
Geo Energy0.240-0.005
Golden Energy0.4250.020
GSS Energy0.1660.010
Heeton Holdings0.5950.015
ISOTeam0.330-
KSH Holdings0.7600.010
Lian Beng Group0.6800.005
Miyoshi0.070-
Nordic Group0.580-
Oxley Holdings0.570-0.105
REX International0.0550.001
Riverstone1.040-
Roxy-Pacific0.570-
Serial System0.1750.004
Sing Holdings0.430-0.005
Sino Grandness0.205-
Straco Corp.0.8350.005
Sunningdale Tech1.9700.040
Sunpower Group0.595-0.005
The Trendlines0.143-
Tiong Seng0.395-
Trek 2000 Int.0.2650.020
Uni-Asia Group1.3700.030
XMH Holdings0.250-
Yangzijiang Shipbldg1.4700.030

NextInsight RSS

rss_2 NextInsight - Latest News

Online Now

We have 1361 guests and no members online