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CGS CIMB UOB KAYHIAN 

 

Penguin Int'l Ltd

Safer haven till crude oil price recovery

 

■ Delays in stock sales and deliveries pushed down 1H20 net profit. 2H20F is likely to be sequentially positive but still weaker yoy. We cut FY20-22F EPS.

■ PBS sailed through the last oil crisis and will likely do so again given its padded net cash position and diversified portfolio, in our view.

■ Reiterate Add with an unchanged TP of S$0.55, still on 0.7x FY20F P/BV (FY09-19 average). The stock is currently trading at forward P/BV of 0.48x.

 

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Small Mid-Cap Results Round-Up – Singapore

 

1H20 Results: More Beats Than Misses; Stay Selective On Quality Names

The majority (40%) of the companies under our small-mid cap coverage that reported 2Q20 results met expectations this earnings season while 40% surprised on the upside; beats were higher compared to misses at 20%. Notable beats include Riverstone, Sheng Siong, Sunningdale Tech, Food Empire and Propnex. We continue to recommend investors selectively accumulate deep-value names with good track records. Our top picks are Riverstone, Food Empire and Frencken Group.

 

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LionelLim8.16Check out our compilation of Target Prices




Share Prices

Counter NameLastChange
AEM Holdings3.6600.230
AusGroup0.021-
Avi-Tech Electronics0.425-
Best World Int.1.360-
CEI0.890-
China Sunsine0.340-
CNMC GoldMine0.2650.010
CSE Global0.4600.005
Food Empire0.6000.005
Golden Energy0.164-
GSS Energy0.0530.001
ISDN Holdings0.4100.005
ISOTeam0.149-0.001
IX Biopharma0.235-
JB Foods0.5700.015
KSH Holdings0.325-0.005
Medtecs Intl1.140-0.080
Moya Asia0.0640.001
Nordic Group0.200-
Oxley Holdings0.2200.005
Procurri0.3200.005
REX International0.1460.004
Riverstone3.430-0.120
Roxy-Pacific0.325-
Sing Holdings0.380-
SingMedical0.2550.010
Straco Corp.0.490-
Sunningdale Tech1.4700.020
Sunpower Group0.5300.005
The Trendlines0.090-
Tiong Seng0.140-
Uni-Asia Group0.420-
Yangzijiang Shipbldg1.0000.005

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  • Lionel Lim