ANALYSTS SAY: Buy, Sell, Hold (1 Nov)

buy sell hold 2021

CGS CIMB	CGS CIMB
CapitaLand Ascendas REIT Robust operations ■ Portfolio occupancy ticked up 0.5% pt to 94.5% at end-3Q22. ■ Positive rental reversion of 5.4% came mainly from the logistics space segment in Singapore and the US. ■ Reiterate Add rating, with a lower TP of S$2.98. Read More ...	Mapletree Pan Asia Commercial Trust Recovering well ■ 1HFY3/23 DPU of 4.94 Scts was in line at 49.5% of our FY23F forecast. ■ Positive rental reversions were offset partly by a downtick in occupancy. ■ Maintain Add rating with a lower TP of S$1.98. Read More ...
CGS CIMB	CGS CIMB
Starhill Global REIT Waiting for committed leases to kick in ■ 1QFY6/23 NPI of S$37.2m (+8.4% yoy) was in line at 24.9% of our FY23F. ■ Tenant sales grew 37.1% yoy, reaching 84% of 1QFY20 levels. Committed occupancy at Singapore retail/office assets at/above pre-Covid-19 levels. ■ Reiterate Add with lower DDM-based TP of S$0.58. SGREIT is trading at an attractive 7.8% FY23F DPU yield, +1.68 s.d. from 10-year historical average. Read More ...	CapitaLand Ascott Trust More recovery and portfolio reconstitution ■ No financials provided in this operational update. 3Q22 gross profit at c.90% of 3Q19 levels. RevPAU for 5 out of 8 key geographies near 3Q19 levels. ■ Retain Add on CLAS’s diversified portfolio & resilient stable income source. Read More ...
CGS CIMB	CGS CIMB
Raffles Medical Group In the pink of health ■ RFMD continues to deliver exceptional earnings, with 9M22 PATMI of S$98.2m surpassing our previous FY22F PATMI of S$95.8m. ■ Larger scale of operations including managing Connect@Changi, JTVCs and higher patient loads likely contributed to higher operating leverage. ■ Reiterate Add with unchanged TP of S$1.60; FY22F EPS increased by 22% but keep FY23-24F unchanged on normalising intensity of healthcare activity. Read More ...	Wilmar International On track for another record-breaking year ■ Wilmar is likely to post decent 4Q22F results, albeit unlikely to outpace 3Q’s. ■ YKA is likely to perform better qoq in 4Q22F due to better crush margin. ■ We believe the stock is undervalued and offers strong FY22F div yield of 6%. Read More ...

Counter Name	Last	Change
AEM Holdings	2.490	0.120
Best World	2.460	-
Boustead Singapore	0.955	0.010
Broadway Ind	0.130	-0.003
China Aviation Oil (S)	0.920	-
China Sunsine	0.420	-
ComfortDelGro	1.500	0.020
Delfi Limited	0.895	-
Food Empire	1.300	0.040
Fortress Minerals	0.310	0.010
Geo Energy Res	0.310	0.005
Hong Leong Finance	2.530	0.030
Hongkong Land (USD)	3.110	-0.030
InnoTek	0.560	0.010
ISDN Holdings	0.305	-
ISOTeam	0.044	-
IX Biopharma	0.043	0.001
KSH Holdings	0.250	-
Leader Env	0.047	-
Ley Choon	0.044	-0.001
Marco Polo Marine	0.070	0.003
Mermaid Maritime	0.142	0.003
Nordic Group	0.310	0.005
Oxley Holdings	0.088	-
REX International	0.132	-0.001
Riverstone	0.820	0.025
Southern Alliance Mining	0.430	-
Straco Corp.	0.485	-
Sunpower Group	0.200	-0.010
The Trendlines	0.063	-0.004
Totm Technologies	0.021	-0.001
Uni-Asia Group	0.820	-
Wilmar Intl	3.340	-0.130
Yangzijiang Shipbldg	1.720	-0.020

Counter Name

Last

Change

AEM Holdings

2.490

0.120

Best World

2.460

Boustead Singapore

0.955

0.010

Broadway Ind