Maybank Kim Eng

Maybank KE cuts Hi-P to 'sell' after share price run-up
SINGAPORE (April 9): Maybank Kim Eng is downgrading its call on Hi-P International to “sell” from “hold” previously with an unchanged price target of $1.22, which is based on 1.5 times FY19E price-to-book value. This is because the research house now deems Hi-P as overvalued at 14 times FY19E P/E versus its global peers’ 10.5 times, and its own 1 SD above the three-year mean of 12.3 ...
Why Maybank KE prefers Frasers Centrepoint Trust over SPH REIT
SINGAPORE (Apr 8): Maybank Kim Eng is reiterating its “hold” call on SPH REIT with an unchanged target price of $1.05 on expectations of limited retail sales growth. Instead, the research house prefers Frasers Centrepoint Trust (FCT), rated “buy” with a $2.60 target price, for its suburban-mall footprint and a 6% three-year DPU CAGR. This comes post the release of SPH REIT’s 2Q19 ...
Ascendas REIT remains best proxy to the burgeoning S-REIT space: Maybank
SINGAPORE (April 4): Maybank Kim Eng is remaining “positive” on the Singapore REIT (S-REITs) sector on expectations of continued outperformance, while highlighting Ascendas REIT (A-REIT) as the best proxy to overall recovery across S-REITs.   The research house has adjusted its FY19-21 distribution per unit (DPU) estimates by between -2% and +4%. It is also raising its target prices ...
Don't chicken out of Japfa over broiler price declines, says Maybank
SINGAPORE (April 2): Maybank Kim Eng is maintaining “buy” on Japfa with an unchanged price target of $1.05 despite recent declines in Indonesian poultry stocks, due to market fears of oversupply after broiler prices declined further in March. In a Tuesday report, analyst Neel Sinha says these concerns are likely overblown, as he concurs with Japfa’s management theories that the broiler ...
Intensifying competition, economic slowdown may drag on Sheng Siong's growth: Maybank KE
SINGAPORE (Mar 19): Maybank Kim Eng is starting coverage on Sheng Siong Group (SSG) at “sell” with a  target price of 95 cents, which implies 19.5 times FY19F P/E – 1 S.D. below the stocks’ five-year mean. The research house’s estimates for FY19-20E new-store sales and same-store sales (SSS) contributions are currently below that of the street. It is also forecasting for only ...
Singapore banks to shine despite regional macros, competition from fintechs: Maybank
SINGAPORE (Mar 18): Maybank Kim Eng is keeping “positive” on Singapore’s banking sector while noting significant interest among Malaysian investors in Singapore banks from a flight-to-quality angle, and for their high dividend yields as the SGD appreciates. This comes post a meeting with 15 Malaysian investors from a mix of long-only, hedge and private-banking funds to discuss Singapore ...
ComfortDelGro started at 'hold' by Maybank with $2.45 target price; says acquisitions are key to re-rating
SINGAPORE (Mar 4): Maybank Kim Eng is starting coverage on ComfortDelGro (CDG) at “hold” with a target price of $2.45. This comes on expectations the group’s transport focus and global expansion, which will provide a decent shelter amid private taxi-hailing competition, has been priced into valuations of 17 times 2019E-20E P/E. In an initiation report on Sunday, analyst Luis Hilado ...
5 recommendations by Maybank as the S-REIT space eases into recovery mode
SINGAPORE (Feb 28): Maybank Kim Eng is remaining “positive” on the Singapore REIT space as it believes sector valuations will remain supported by recovering distributions per unit (DPUs), especially for hospitality; increased traction of capital recycling initiatives and acquisition momentum; and a backdrop of a slower rate hike cycle. Maybank continues to favour large-caps and laggards, ...
Bumitama Agri on track for a better performance in FY19, say analysts
SINGAPORE (Feb 28): Maybank Kim Eng and RHB Research are maintaining their “buy” and “neutral” ratings on Bumitama Agri with higher target prices of 97 cents and 67 cents, respectively. This comes after the oil palm plantation company concluded FY18 with earnings of $125 million, down 9% y-o-y as its 4Q and full-year performance was impacted by weaker agriculture commodity prices, ...
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’ ...