Singapore Technologies Engineering Ltd (SG1F60858221) ... Singapore Daily -...
KEY HIGHLIGHTS Sector Banking: 3Q23 round-up: Building buffers to weather heightened geopolitical uncertainties. Results AEM Holdings (AEM SP/BUY/S$3.34/Target:S$3.63): 9M23: Revenue in line with...
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STE’s 3Q23 revenue of S$2.43b (+8.8% yoy) was largely in line with our expectations, with 3Q23/9M23 revenue at 25%/76% of our full-year projections. One small incremental negative this quarter was...
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GREATER CHINA Economics Money Supply: A little less to cheer. Strategy Small-Mid Cap Biweekly: Riding on the wave of AI PC; Thunder Software Technology is a beneficiary. Sector Internet: 3Q23 results...
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2023 headline/core net profit of S$586m/S$554m was in line with our expectations, at 98%/99% of our full-year forecasts. The slight weakness in CA margins in 2H23 has been offset by strengths in DPS...
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KEY HIGHLIGHTS Results AEM Holdings (AEM SP/HOLD/S$2.14/Target:S$1.94): 2023: Revenue meets forecast but 2024 guidance misses expectation; maintain HOLD. First Resources (FR SP/BUY /S$1.42/Target:...
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GREATER CHINA Sector Automobile: Weekly: PEV market share rebounds; price war heats up. Maintain UNDERWEIGHT. Top SELLs: XPeng. Top BUY: CATL, Tuopu and Desay SV. Results Budweiser APAC (1876...
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KEY HIGHLIGHTS Strategy The Impact Of Escalating Middle East Tensions A fluid situation with oil prices the key worry. Small/Mid Cap Highlights BRC Asia (BRC SP/BUY/S$1.94/Target: S$2.42) 1QFY24:...
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Our credit view of this issuer reflects our expectation of a continued deleveraging trend and very high government support. [...]
View ArticleSingapore Technologies Engineering Ltd (SG1F60858221) Singapore Technologies...
Compares key performance metrics against industry peers. [...]
View ArticleSingapore Technologies Engineering Ltd (SG1F60858221) Singapore Technologies...
STE’s 1Q24 revenue of S$2.70b is in line, accounting for 24.6% of our full-year projection. Group revenue rose 18% yoy, driven by strong revenue growth in CA (+32%, backed by strong demand) and DPS...
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KEY HIGHLIGHTS Results RH Petrogas (RHP SP/BUY/S$0.164/Target: S$0.242): 1Q24: Better-than-expected results due to higher production and oil prices, helped by good cost control. Looking forward to two...
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GREATER CHINA Strategy China and Hong Kong Property: More patience needed for China’s destocking policy; Hong Kong retail landlords facing both challenges and opportunities. INDONESIA Sector Banking:...
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Given our slightly more bullish earnings expectation of a 5.6% growth for 2024 (vs 2.4% six months ago), we have upgraded our 2024 year-end target for the STI to 3,380. The index’s current valuation...
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KEY HIGHLIGHTS Strategy Market Strategy: 2H24 strategy: Looking for turning points. Sector Banking: Donald Trump will likely be re-elected. BUY banks. TRADERS’ CORNER Singapore Tech Engineering (STE...
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GREATER CHINA Strategy Small-Mid Cap Monthly Reiterate BUY on Plover Bay Technologies. Sector Automobile Weekly: Sales of top 12 EV brands up 38% wow last week, in line. M [...]
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Despite STE’s recent share price strength, we recommend investors stay invested for its steady growth outlook, driven by expected stable/upbeat performances across its three business segments. We...
View ArticleSingapore Technologies Engineering Ltd (SG1F60858221) Singapore Technologies...
Despite STE’s recent share price strength, we recommend investors stay invested for its steady growth outlook, driven by expected stable/upbeat performances across its three business segments. We...
View ArticleSingapore Technologies Engineering Ltd (SG1F60858221) ... Regional Morning...
GREATER CHINA Economics Economic Activity 2Q24 growth below expectations. Strategy China And Hong Kong Property Sharper property price decline in 1H24 weighing on margins of Chinese d [...]
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KEY HIGHLIGHTS Update CapitaLand Integrated Commercial Trust (CICT SP/BUY/S$2.09/Target: S$2.29): Quality portfolio that commands well-deserved premium. Singapore Technologies Engineering (STE...
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1H24 headline net profit rose 19.9% yoy to S$337m. Core net profit of S$326m (+16.4% yoy) was in line with our expectation, at 49.7% of our full-year forecast. The misses in EBIT of CA and USS have...
View ArticleSingapore Technologies Engineering Ltd (SG1F60858221) ... Regional Morning...
GREATER CHINA Results Nexteer (1316 HK/SELL/HK$2.89/Target: HK$1.50) 1H24: Earnings miss estimates on revenue. Maintain SELL. Cut target price from HK$2.20 to HK$1.50. Tencent Holdings (700...
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KEY HIGHLIGHTS Sector Property Developers: 1H24: A slight miss for CLI; worse-than-expected for CDL. Results AEM Holdings (AEM SP/SELL/S$1.46/Target:S$1.04): 1H24: Earnings and guidance way below...
View ArticleSingapore Technologies Engineering Ltd (SG1F60858221) ... Singapore Market...
Given our slightly more bullish earnings expectations of 5.6% growth for 2024 (vs 2.4% six months ago), we have upgraded our 2024 year-end target for the STI to 3,380 which implies 1.0% upside from...
View ArticleSingapore Technologies Engineering Ltd (SG1F60858221) ... Strategy -...
After Powell’s Jackson Hole speech on 23 August, we see a turning point starting with a US Fed rate cut in Sep 24 and lower rates heading into 2025. In the Singapore market, REITs and the property...
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Compares key performance metrics against industry peers. [...]
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