buy sell hold 2021

UOB KAYHIAN

UOB KAYHIAN

Civmec (CVL SP)
Secured Contracts In The Green Energy Space And More Maintenance Works


Civmec has won around A$100m worth of contracts for three blue chip customers, including an expansion project for Albermale Lithium, the world’s biggest lithium producer which has supply agreements with major EV makers. It has also won a huge maintenance order from Queensland Aluminium, one of the largest alumina refineries in Australia. Civmec’s orderbook has increased around 2% to A$1.2b since the last update in Feb 23, indicating good earnings prospects. Maintain BUY. Target price: S$1.10.

 

Read More ...

 

MISC (MISC MK)
“Tanker Party” Is Here To Stay


Major surprises in OPEC+ voluntary production cuts would have been negative to tankers in normal circumstances, but mid-sized tanker rates may be resilient this time, as the dominating factor is high tonne-mile demand that continues to be driven by more trade re-shuffling since the Russian crude events. Even factoring in some LNG expiries, we still expect MISC to record strong earnings, while selectively securing new projects including zero-emission vessels. Retain BUY and RM8.60 target price. 

 

Read More ...

CGS CIMB

CGS CIMB

AIA Group
Money, money, money… from MCV


■ We see 1Q23F results highlighting HK/China strength, with VONB growth getting progressively stronger yoy throughout 1Q23F.
■ More importantly, VONB growth looks well placed to continue to accelerate further in 2Q23F and 2H23F for these regions.
■ We believe AIA may have also used the broker channel to tap the rapid recovery of MCV insurance purchases, which are relatively large case-size.
■ Reiterate Add rating with a TP of HK$109. AIA remains our sector top pick.

 

Read More ...

 

Banks
Net profit likely rebounded qoq in 1Q23F


■ We estimate aggregate net profit for Thai banks was THB45.5bn in 1Q23F, up 3% yoy and up 38% qoq.
■ We believe net profit rebounded qoq from benign credit cost and opex. Meanwhile, NIM expansion likely encountered hiccups in 1Q23F.
■ Stay Overweight. BBL and SCB are our top picks for the Thai banking sector. 

 

Read More ...

LIM & TAN LIM & TAN

PropNex (S$1.96, up 5 cents) has just released its FY22 Annual Report and we highlight some of the key points that were being presented,
where management wrote that “2022 was another remarkable year as the Group achieved an unprecedented performance, delivering stellar results.” 

 

At $1.96, market cap of PropNex is S$706.7mln, FY22 P/E is 11.3x, current P/B is 5.6x, dividend yield is 6.5% and its net cash position of S$138.9mln equates to market cap of 19.6%. Consensus target price stands at S$2.13,
representing 9% upside. As we continue to like PropNex’s robust balance sheet and attractive dividend yield while management themselves are expecting overall local private home prices to rise by 5% to 6% this year, we thus have an ACCUMULATE recommendation on the stock.

We highlight the key points from Jardine Matheson’s (US$48.89, down 1 cent) FY22 annual report:


The Group’s underlying net profit of US$1,584 million for the year was US$71 million (5%) higher than the prior year. The increase was primarily driven by strong performances by Astra and other Southeast Asian businesses held by Jardine Cycle & Carriage (‘JC&C’). There was a return to underlying profit by Mandarin Oriental and an improved contribution from the Group’s unlisted Jardine Pacific businesses. Hongkong Land, however, delivered significantly reduced underlying
profits in 2022 and the results of DFI Retail Group (‘DFI Retail’) were also materially lower. There was a slight decline in the performance of
the Group’s Motor interests. 

Jardine Matheson’s market cap stands at S$14.1 bln and currently trades at 7.6x forward PE and 0.5x PB, with a dividend yield of 4.4%. Consensus target price stands at S$65.46, representing 33.9% upside from current share price.

You may also be interested in:


You have no rights to post comments

Counter NameLastChange
AEM Holdings2.2700.130
Avi-Tech Electronics0.265-
Best World1.6800.050
Broadway Ind0.0990.012
China Sunsine0.4000.010
ComfortDelGro1.3700.020
Delfi Limited0.9700.005
Food Empire1.430-0.010
Fortress Minerals0.280-
Geo Energy Res0.325-0.005
GSS Energy0.026-0.001
Hong Leong Finance2.480-
Hongkong Land (USD)3.240-0.140
InnoTek0.445-0.005
ISDN Holdings0.315-0.005
ISOTeam0.035-
IX Biopharma0.045-
Jiutian Chemical0.0260.001
KSH Holdings0.250-
Leader Env0.050-0.001
Medtecs Intl0.131-0.001
Nordic Group0.3400.005
Oxley Holdings0.089-0.002
REX International0.1350.002
Riverstone0.7000.025
Sinostar PEC0.138-0.002
Southern Alliance Mining0.600-
Straco Corp.0.500-0.030
Sunpower Group0.230-
The Trendlines0.085-
Totm Technologies0.023-
Uni-Asia Group0.820-0.020
Wilmar Intl3.3500.030
Yangzijiang Shipbldg1.7800.030
 

We have 1279 guests and one member online

rss_2 NextInsight - Latest News