| UOB KH |
UOB KH |
| Raffles Medical Group (RFMD SP) 3Q19: In Line; Gradual Additions For Chongqing, But Local Operations Underscore Resilience RMG reported 3Q19 net profit of S$13.6m (-16.9% yoy), in line with our expectations. Chongqing hospital gestation losses are still in line with guidance and awaiting further ramp-up, despite slight teething issues such as implementation of local medical insurance. Excluding Chongqing, the group’s operations remain resilient with the local hospital seeing better resident patient loads, underscoring its defensive nature. Maintain BUY with an unchanged DCF-based target price of S$1.27. Read more... |
Sasseur REIT (SASSR SP) |
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CGS-CIMB |
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| CSE Global Projects incoming! ■ CSE announced thatit has secured new oil and gas contracts worth a cumulative US$74.7m (S$103.7m). ■ The new wins area pleasant surprise; coupledwith higher ‘flow contracts’ in 2H19F,this could fuel end-FY19F order book to beyond S$300m, in our view. ■ We keep our forecasts, call and TP. CSE remains one of our favourite smallcap stocksdue to its steady EPS growth and dividends |
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