ANALYSTS SAY: Buy, Sell, Hold (10 Feb)

buy sell hold 2021

CGS CIMB	CGS CIMB
Manulife US REIT More signs of recovery ■ 2H/FY21 DPU of 2.63/5.33 UScts is in line at 48.8%/98.9% of our FY21 forecast ■ Portfolio occupancy rose hoh in 2H21; it expects positive rental reversion in FY22F ■ Reiterate Add rating with a lower DDM-based TP of US$0.89 Read More ...	Singapore Strategy Expediting the privatisation of SPH ■ SPH terminates Keppel Scheme, paving the way for a more direct privatisation process by Cuscaden. ■ Keppel launches an arbitration against SPH for its purported termination of the agreement. We see minimal impact on EPS. ■ We think outcome of the arbitration may not matter as companies would have moved on, pursuing goals of higher price of privatisation (SPH) and vision 2030 plans (KEP). Read More ...
CGS CIMB	CGS CIMB
BRC Asia Ltd A strong start to FY22 ■ BRC’s 1Q22 net profit of S$13.3m (+38.8% yoy) was above expectations. We remain bullish on construction recovery in 2022F as labour shortage eases. ■ Construction output is set to reach a 6-year high in 2022F, according to BCA, supported by steady construction demand and work backlogs since 2020. ■ BRC is our sector’s top pick. We see it as a key beneficiary of construction activity recovery. It also offers a high dividend yield of 6.7%. Reiterate Add. Read More ...	SingTel Further earnings recovery likely in 3QFY22F ■ 3QFY3/22F core EPS may have risen 26-28% yoy and 2-3% qoq to S$540m550m; we expect in-line 9MFY22F core EPS at 73-74% of our FY22 forecast. ■ We see better yoy earnings from its associates and Singapore Consumer. ■ Reiterate Add with TP of S$2.90. Singtel is our top Singapore telco pick. 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