Image result for buy sell hold

UOB KayHian

MAYBANK KIM ENG

Health Management International (HMI SP)

Homecoming; Our Key Mid-cap Healthcare Pick

 

HMI’s latest venture into ambulatory care rides upon the latest growth trend in outpatient procedures. The centre builds upon the group’s regional focus and expansion on the local front. We trimmed our FY19-20 net profit forecasts by up to 3.6% due to higher interest expenses. Maintain BUY with a revised DCF-based target price of S$0.82. (from S$0.83)

 

Read More ...

 

MindChamps PreSchool (MCHAMPS SP)

Planting seeds for future growth

Largest operator of premium range preschool centres in Singapore

 

MindChamps currently holds pole position in the premium range of preschools in Singapore, with a market share of 38.5% (based on number of private child care centres). It is also the only preschool operator to own intellectual property on the Champion Mindset. With its entrenched position in Singapore, the group is well-positioned to ride on the growth of the early childhood education industry in Australia, China and globally.

 

Read More ...

MAYBANK KIM ENG OCBC 

StarHub (STH SP)

Value Has Emerged

 

Much is priced in. Upgrade to BUY

Even after reducing our forecasts and TP (Fig 1), StarHub is offering respectable upside to value investors and thus we upgrade to a BUY with a SGD1.96 DCF (WACC 5.7%, LTG -1%) based TP. At current levels, the share price is implying extreme scenarios of pay TV revenues going to zero or that wireless service revenues drop a further c15% from our estimates. With the impact of TPG (TPM AU, Not Rated) still to be felt we acknowledge short-term risk but believe the stock has more than priced in long-term profit erosion.

 

Read More ...

City Developments Limited: Bearing the brunt of policy headwinds

 

City Developments Limited: Bearing the brunt of policy headwindsWe expect City Developments Limited (CDL) to be one of the worst hit among the developers under our coverage after the latest set of cooling measures announced on 5 Jul. Based on our previous forecasts prior to the announcement of the tightening measures, CDL’s Singapore residential projects formed ~30% of our GAV forecast. We apply a significantly higher RNAV discount of 40% (previously 5%), as our previous thesis of CDL being a key beneficiary to the Singapore residential market upcycle given its large land bank would now likely work against them after these new measures. We also scale back our ASP and sales volume assumptions for CDL’s Singapore residential projects, and thus derive a lower fair value estimate of S$9.59 (previously S$15.78). Although CDL’s share price slumped 15.6% to S$9.46 on 6 Jul 2018 after the cooling measures were announced, we believe the negative investor and buyer sentiments may curtain a meaningful rebound in its share price in the near future. Downgrade to HOLD. 

PHILLIP SECURITIES

DBS VICKERS

Singapore Property Sector

A surprise fresh set of cooling measures

SINGAPORE | REAL ESTATE | SECTOR UPDATE

 

 New cooling measures: Higher Additional Buyer’s Stamp Duty and LTV tightening.

 Negative short-term impact on transaction volumes and prices but makes for a more sustainable upcycle with more gradual price increases.

 Property price increases have been backed by income growth which has outpaced home price increases.

 We maintain our OVERWEIGHT view on Singapore Property Sector even as we reduce assumed selling prices for selected projects and increase sector RNAV-discount.

 

Read More ...

 

Singapore Banks

Property cooling measures strikes again!

 

• New property cooling measures (wef 6 Jul 2018) will dampen loan growth; downside to 2018-19 loan growth

• Previous property cooling measures caused loan growth to half from a high of 16% after a year; banks’ share prices did not correct sharply as business loans stayed strong

• Downgrade banks to HOLD; TPs for UOB and OCBC lowered to S$28.30 and S$12.20 respectively on earnings revision of c. -1% to -5% over FY18-19F

 

Read More ...


LionelLim8.16Check out our compilation of Target Prices




Share Prices

Counter NameLastChange
AEM Holdings0.7350.005
Alliance Mineral0.2600.010
AusGroup0.041-0.001
Avi-Tech Electronics0.3550.015
Best World Int.1.390-
China Sunsine1.0800.070
DISA Limited0.008-
Dutech Holdings0.250-
Federal Int. (2000)0.270-
Food Empire0.5700.010
Geo Energy0.230-
Golden Energy0.250-0.005
GSS Energy0.125-0.001
Heeton Holdings0.510-0.005
ISOTeam0.280-
KSH Holdings0.555-
Lian Beng Group0.5150.005
Miyoshi0.054-
Nordic Group0.460-
Oxley Holdings0.330-
REX International0.109-0.001
Riverstone1.1700.010
Roxy-Pacific0.4000.005
Serial System0.145-
Sing Holdings0.3950.005
Sino Grandness0.196-0.004
Straco Corp.0.735-
Sunningdale Tech1.4000.040
Sunpower Group0.550-0.015
The Trendlines0.110-
Tiong Seng0.315-
Trek 2000 Int.0.095-
Uni-Asia Group1.300-
XMH Holdings0.220-
Yangzijiang Shipbldg1.160-

NextInsight RSS

rss_2 NextInsight - Latest News

Online Now

We have 886 guests and no members online