ANALYSTS SAY: Buy, Sell, Hold (13 Dec)

buy sell hold 2021

CGS CIMB	UOB KAYHIAN
SATS Ltd Add a little bit of Twyst ■ We attended the soft launch of Twyst, a new F&B concept by SATS’s food solutions ventures arm that explores growth opportunities for the segment. ■ Twyst features SATS’s food solutions brands and products, while partnering with corporates and brands such as SMRT and Tiong Hoe Specialty Coffee. ■ Success will be a nudge towards growing business to group’s target revenue of S$3bn by FY25, and could pave the way for scaling of future ventures. Read More ...	STRATEGY – SINGAPORE 1H22 Market Strategy We believe that the STI will continue to perform well in 2022. Singapore’s strong GDP growth in 2021 has set the stage for a 29% EPS growth in 2022 on our estimates. Importantly, the STI’s valuations are not stretched at present, trading at 2022F PE and P/B of 13.2x and 1.1x respectively and paying a yield of over 4%. Our year-end 2022 target for the STI is 3,500. Read More ...
MAYBANK KIM ENG	MAYBANK KIM ENG
Top Glove (TOPG MK) ASP outlook remains challenging Hit by lower ASP and sales volume TOPG’s 1QFY22 net profit of MYR186m was below our and consensus fullyear estimates. Management expects ASP to continue falling but at a slower pace. It remains cautious and will defer some of the expansion plans. We lower our FY22/23/24 EPS forecasts by -27%/-5%/-4%. We now value TOPG at MYR1.61 on an unchanged 12.7x CY23 PER. SELL. Read More ...	Astro Malaysia (ASTRO MK) 3QFY22: Not bad considering the circumstances Maintain BUY with a higher TP of MYR1.38 (+1%) Results were above our expectations. 4QFY22 operations ought to better QoQ as the FMCO ends but there will likely be a one-off negative impact from Cukai Makmur. We trim our FY22E EPS by 4% but raise FY23E/FY24E EPS by 7%/9%. Our DCF-TP is tweaked to MYR1.38 from MYR1.36 as we roll forward valuation base year to end-FY23E from end-FY22E. We continue to like ASTRO as an earnings turnaround and high dividend yield offering. Read More ...

Check out our compilation of Target Prices

Counter Name	Last	Change
AEM Holdings	2.310	-0.030
Best World	2.490	0.010
Boustead Singapore	0.935	-0.005
Broadway Ind	0.132	-0.001
China Aviation Oil (S)	0.925	0.005
China Sunsine	0.420	0.005
ComfortDelGro	1.420	-0.020
Delfi Limited	0.890	0.010
Food Empire	1.130	0.010
Fortress Minerals	0.300	-0.010
Geo Energy Res	0.295	-
Hong Leong Finance	2.450	-0.080
Hongkong Land (USD)	3.280	-0.020
InnoTek	0.525	-0.010
ISDN Holdings	0.305	0.005
ISOTeam	0.045	0.002
IX Biopharma	0.048	0.007
KSH Holdings	0.260	0.010
Leader Env	0.052	-
Ley Choon	0.053	0.001
Marco Polo Marine	0.068	-
Mermaid Maritime	0.143	0.008
Nordic Group	0.315	-
Oxley Holdings	0.090	-
REX International	0.126	-
Riverstone	0.780	-0.010
Southern Alliance Mining	0.475	0.020
Straco Corp.	0.500	-
Sunpower Group	0.205	-0.005
The Trendlines	0.065	-
Totm Technologies	0.022	0.001
Uni-Asia Group	0.825	-0.005
Wilmar Intl	3.180	-0.040
Yangzijiang Shipbldg	1.700	-0.010

Counter Name

Last

Change

AEM Holdings

2.310

-0.030

Best World

2.490

0.010

Boustead Singapore

0.935

-0.005