CGS-CIMB Research

Analysts remain positive as acquisitions, asset enhancements drive Keppel DC REIT
SINGAPORE (Apr 17): Analysts are keeping their bullish stance on Keppel DC REIT (KDCREIT), after the group on Monday announced 1Q19 results that were in line with expectations. KDCREIT reported distribution per unit (DPU) of 1.92 cents for the 1Q19 ended March, some 6.7% higher than DPU of 1.80 cents a year ago. This formed 24.5% and 24% of full-year forecasts for OCBC Investment Research ...
Analysts maintain calls on SPH as 2Q results miss expectations
SINGAPORE (Apr 10): Analysts say Singapore Press Holdings’ (SPH) 2Q19 results came in below expectations amid continued weakness in its media business, coupled with the absence of divestment gains from its treasury and investment portfolio. See: SPH posts 26% fall in 2Q earnings to $29.7 mil on lower revenue, higher costs “[SPH’s] media business [is] still not a pretty sight,” says ...
12 stocks that could get a boost from IR 2.0
SINGAPORE (Apr 5): The $9 billion investment to renew and refresh Singapore’s two integrated resorts (IRs) could provide some vibrancy to the domestic economy in the next few years and whip up some optimism in the city-state, says CGS-CIMB Research. “The economic implication of this transformation will first be felt in the construction sector before having a multiplier effect on the rest ...
Sasseur REIT started at 'add' by CGS-CIMB on exposure to China's fast-growing retail outlet segment
SINGAPORE (Apr 3): CGS-CIMB Research is initiating coverage on Sasseur REIT (SASSR) with an “add” recommendation and a target price of 92 cents, representing a potential upside of 15%. This values SASSR at 7.3% FY19F DPU yield, which the brokerage says is still above the average of its comparable peers in Singapore. “We went to SASSR’s outlet malls and they were packed,” says lead ...
Boeing 737 MAX grounding likely to have minimal impact on SIA – for now: CGS-CIMB
SINGAPORE (Mar 19): SilkAir, the regional wing of Singapore Airlines (SIA), has grounded six of its Boeing 737 MAX 8 jets following the crash of an Ethiopian Airlines flight last week – the second fatal accident involving the best-selling Boeing aircraft in less than five months. But even as the B-737 MAX fleet accounts for some 16% of SilkAir’s total seat capacity, analysts say the net ...
Japfa cut to 'reduce' amid Swine Fever outbreak in Vietnam, lower poultry margins in Indonesia
SINGAPORE (Mar 14): CGS-CIMB Research is downgrading Japfa to “reduce” from “add” previously, and cutting its target price by nearly a third to 63 cents. “Our lower expectations for the Vietnam swine business, and the continued moderation in Indonesian poultry margins lower our FY19 and FY20F EPS forecasts by 1.4% and 5.9%, respectively,” analyst Cezzane See says in a Wednesday ...
Is this the best time to buy into Best World?
SINGAPORE (Feb 28): Analysts are divided over Best World International, as the group announced a 29% increase in earnings to $28.1 million in the 4Q18 ended December amid news that it plans to conduct an independent review on its business and accounting practices. The stronger bottomline comes as the direct-selling company and seller of premium skincare products to franchisees in China ...
Analysts remain bullish on UOL despite 51% drop in FY18 earnings to $433.7 mil on absence of one-off gain
SINGAPORE (Feb 27): Analysts from OCBC Investment Research and CGS-CIMB Research are staying positive on UOL Group, despite the property company reporting a 51% drop in full-year earnings to $433.7 million for the FY18 ended December. The decline was mainly due to the absence of a one-off gain of $535.6 million in FY17 on the consolidation of United Industrial Corporation (UIC). Excluding ...
Analysts bullish on Wilmar despite challenges
SINGAPORE (Feb 22): RHB Research is keeping Wilmar International as its top plantation sector and country pick despite a tough 4Q18. The latest quarter saw the group hit by challenges including an African swine fever outbreak in China and a provision for impairment on its goodwill and sugar milling assets in Australia. Wilmar saw its earnings fall 52.9% to US$200.9 million ($271.5 million) ...
Genting Singapore's outlook unmarred by slight earnings disappointment, according to analysts
SINGAPORE (Feb 22): Maybank Kim Eng, OCBC Investment Research, RHB Research and CGS-CIMB Research are maintaining their “buy” calls on Genting Singapore (GENS) with the respective target prices of $1.26, $1.31, $1.22 and $1.28.   This comes after GENS’s latest set of FY18 financials fell slightly short of, or came in at the lower-end of the first three research houses’ ...