ANALYSTS SAY: Buy, Sell, Hold (9 Feb)

buy sell hold 2021

CGS CIMB	CGS CIMB
Ascendas REIT Strength through diversification ■ 2H/FY21 DPU of 7.598/15.258 Scts in line, at 49/1%/987% of our FY21 forecast. ■ It saw healthy improvement in portfolio occupancy to 93.2%, and achieved positive rental reversion of 4.5% for FY21. ■ Reiterate Add, with a lower DDM-based TP of S$3.20. Read More ...	Frasers Logistics & Commercial Trust Tailwinds for inorganic growth ■ Frasers Logistics & Commercial Trust’s (FLCT’s) portfolio occupancy improved in 1QFY9/22, moderated by negative reversions. ■ Financial metrics improved post asset divestments. ■ We reiterate our Add rating with a lower DDM-based TP of S$1.56. Read More ...
UOB KAYHIAN	PHILLIP SECURITIES
UMS Holdings (UMSH SP) 2021 To Mark Record Year UMS’ upcoming 4Q21 results should reflect a production normalisation following the COVID-19-related disruption at the Penang factory in 2Q and 3Q. Our revised 4Q21 estimated net profit of S$16.6m looks achievable, supported by healthy orders and deliveries at key client Applied Materials. The demand-supply imbalance from new technology innovations portends a bright outlook for 2022-23, implying attractive valuations. Maintain BUY with a slightly higher target price of S$1.80. Read More ...	Singapore Banking Monthly – Interest rates down in January January’s 3M-SOR down MoM, 3M-SIBOR remains flat. Hong Kong’s domestic loans growth increased 3.79% YoY in December. Malaysia’s domestic loans growth increased 4.51% YoY and rose 0.53% MoM in December. Our 4Q21e PATMI estimates are: DBS (S$1.4bn), UOB (S$1.3bn) and OCBC (S$1.1bn). Valuations for OCBC are the most attractive and largest upside surprise from dividends. Maintain OVERWEIGHT. We remain positive on banks. Bank dividend yields are attractive with upside surprise due to excess capital ratios. Improving economic conditions and rising interest rates remain tailwinds for the banking sector. SGX is another beneficiary of higher interest rates. Read More ...

Counter Name	Last	Change
AEM Holdings	1.880	-0.030
Best World	2.480	-0.010
Boustead Singapore	0.955	0.005
Broadway Ind	0.134	0.002
China Aviation Oil (S)	0.875	0.005
China Sunsine	0.395	-
ComfortDelGro	1.410	-0.030
Delfi Limited	0.880	0.005
Food Empire	1.130	0.010
Fortress Minerals	0.310	0.025
Geo Energy Res	0.295	-0.005
Hong Leong Finance	2.430	0.010
Hongkong Land (USD)	3.400	-0.050
InnoTek	0.500	-0.010
ISDN Holdings	0.305	-
ISOTeam	0.048	-0.003
IX Biopharma	0.043	0.005
KSH Holdings	0.250	-
Leader Env	0.049	-
Ley Choon	0.052	-0.001
Marco Polo Marine	0.071	-
Mermaid Maritime	0.152	-0.004
Nordic Group	0.310	0.005
Oxley Holdings	0.087	-0.001
REX International	0.126	-0.002
Riverstone	0.930	0.045
Southern Alliance Mining	0.480	-
Straco Corp.	0.490	-
Sunpower Group	0.235	0.020
The Trendlines	0.064	0.002
Totm Technologies	0.020	-0.001
Uni-Asia Group	0.830	0.005
Wilmar Intl	3.180	-0.020
Yangzijiang Shipbldg	1.770	0.010

Counter Name

Last

Change

AEM Holdings

1.880

-0.030

Best World

2.480

-0.010

Boustead Singapore

0.955

0.005