CGS-CIMB

Expansion beyond Singapore should help HRNetGroup mitigate slowdown

SINGAPORE (Aug 23): Recruitment firm HRNetGroup is expanding into other countries to make up for Singapore’s shortcomings both as a small state as well as in the face of a slowing economy.

The group saw its 2Q earnings fall 11.5% to $11.5 million from $13.0 million the preceding year, on the back of lower margins from its flexible staffing segment.

Can AEM continue its record-breaking streak?

SINGAPORE (Aug 15): AEM Holdings, the provider of equipment systems solutions and manufacturing services, reported record high revenue and earnings for 2Q19.

Earnings for 2Q19 ended June hit an all-time high of $15.7 million, 65.4% higher than the $9.5 million the preceding year. Revenue also surged 34.8% to a high of $97.9 million, due largely to the Equipment Systems Solutions (ESS) business.

AEM says its stellar 2Q19 performance was the result of a major customer ordering more test handlers in anticipation of its own product launch roadmap.

Frencken continues to outperform amid challenging quarter for manufacturing sector

SINGAPORE (Aug 13): Technology solutions provider Frencken Group has emerged one of the rare manufacturing companies that delivered growth in 2Q19, even as many of its peers in the manufacturing sector companies saw their profits tumble amid geopolitical tensions and a slowing economy.

Earnings for the 2Q19 ended June came in at $11.1 million, a significant 58.7% hike from $7.0 million in the same quarter last year.

2Q19 revenue increased by 11.5% to $164.3 million, from $147.4 million a year ago, spearheaded by a 16.7% growth in revenue from the Mechatronics Division.

Dairy Farm's transformation plan needs more time to work its magic

SINGAPORE (Aug 6): Dairy Farm International’s management and investors were disappointed when they scrutinised its 1H19 results for early signs of growth forged by its transformation programme to improve business performance and achieve long-term sustainable growth.

CDLHT set for 2H rebound on asset reconstitution and acquisitions

SINGAPORE (July 31): CDL Hospitality Trusts (CDLHT) reported a 3.3% dip in distribution per stapled security for the 2Q19 ended June.

The weaker DPSS also brought DPSS for 1H19 ended June to 4.16 cents, down 3.5% from a year ago.

See: CDLHT posts 3.3% lower 2Q19 DPSS of 2.07 cents on lower sales, retention of distribution

FCT preferred for its resilient malls, strategic diversification and index inclusion plans

SINGAPORE (July 29): Frasers Centrepoint Trust (FCT) delivered a strong set of results in 3Q19, despite seeing a dip in DPU due to an enlarged unit base.

See: Frasers Centrepoint Trust 3Q19 DPU falls 1.7% to 3 cents

The 3Q19 results were supported by strong operational metrics, reflecting broad-based occupancy improvements and tenants’ sales growth.

CGS-CIMB bullish on China, HK property; prefers China players with bigger exposure to GBA

SINGAPORE (July 15): Singapore’s property developers are enticing investors with hefty discounts of 45% to book value, relatively reasonable valuations of 16 times earnings and yields of 3.2%. Yet, from the perspective of Raymond Cheng, head of research at CGS-CIMB Hong Kong and China, these metrics are nowhere near as attractive as those of property developers listed in China.

CGS-CIMB bullish on China, HK property; prefers China players with bigger exposure to GBA

SINGAPORE (July 15): Singapore’s property developers are enticing investors with hefty discounts of 45% to book value, relatively reasonable valuations of 16 times earnings and yields of 3.2%. Yet, from the perspective of Raymond Cheng, head of research at CGS-CIMB Hong Kong and China, these metrics are nowhere near as attractive as those of property developers listed in China.

CGS-CIMB bullish on China, HK property; prefers China players with bigger exposure to GBA

SINGAPORE (July 15): Singapore’s property developers are enticing investors with hefty discounts of 45% to book value, relatively reasonable valuations of 16 times earnings and yields of 3.2%. Yet, from the perspective of Raymond Cheng, head of research at CGS-CIMB Hong Kong and China, these metrics are nowhere near as attractive as those of property developers listed in China.

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ISDN kept at 'add' by CGS-CIMB on value-add, growth opportunities and strong partnerships

SINGAPORE (July 1): CGS-CIMB Research is maintaining ISDN Holdings at “add” with a target price of $0.32 on the back of the company’s core business strength of providing value-added motion control solutions and strong partnerships.

Apart from not competing in the mass market and price-competitive core motor space, ISDN adds value by offering solutions that incorporate its principals’ motors to customers, rather than selling them the motors on a standalone basis.

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