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CGS CIMB |
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Sembcorp Industries Exporting power to Bangladesh
■ SCI’s second power plant, SGPL, could see narrower losses in 2H18, thanks to the 15-year 250MW PPA with Bangladesh. ■ The 250MW represents c.19% of SGPL’s 1,320MW installed capacity. The plant has been in losses due to the lack of PPA since the inception of operations. ■ Maintain Add and unchanged TP of S$3.49, based on SOP. Catalysts include the turnaround of SGPL, signing of more PPAs and successful IPO of Indian business.
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Health Care Providers & Svs National Day Rally 2018: Keeping healthcare affordable
■ The prime minister addressed cost of living pressures during the National Day Rally 2018, focusing on housing and healthcare, with more details to be unveiled in 2019. ■ Major healthcare changes include i) new Merdeka Generation Package, ii) extension of CHAS to all Singaporeans with chronic conditions, and iii) building more polyclinics. ■ Maintain sector Neutral, with RFMD as a potential beneficiary of these new initiatives.
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Check out our compilation of Target Prices
