SembMarine is now looking cheap but beware of the risks: OCBC

SINGAPORE (May 30): OCBC Investment Research is maintaining its “hold” call on Sembcorp Marine (SMM) while lowering its fair value estimate to $1.60 from $1.77 previously upon slashing its price-to-book valuation from 1.6 times to 1.45 times.

OCBC’s move comes post the group’s 13.2% share price correction (versus the STI’s 6.8%) since the release of its 1Q19 earnings announcement.

AsiaPhos swings back to black with $0.1 mil in earnings for 3Q

SINGAPORE (Nov 2): AsiaPhos has reported $0.1 million in earnings for the third quarter ended Sept, compared to a loss of $0.6 million in the same period a year ago on higher revenue.

This brings the group’s earnings for 9M17 to $1 million, as opposed to its loss of $1.1 million in the previous year.   

See: AsiaPhos swings back to profitability in 1H17

Seize the day with a beaten-down stock in the midst of sector recovery

SINGAPORE (Jan 16): OCBC Investment Research has upgraded its call on Ezion Holdings from “hold” to “buy” with a fair value estimate of 54 cents.

Although it continues to expect a challenging operating environment for energy equipment and services (E&P) investment companies, the research house is suggesting that longer-term investors “look beyond this” and instead, choose “pick up beaten-down stocks whose negatives have been mostly priced in” such as Ezion.   

Golden Agri-Resources swings back into profitability with 3Q earnings of US$220 mil

SINGAPORE (Nov 14): Golden Agri-Resources has swung back into the black with 3Q16 earnings of US$219.7 million ($311 million), on the back of higher crude palm oil (CPO) prices and deferred tax benefit.

Revenue for the quarter rose 17% to US$1.8 billion.

Third quarter EBITDA recovered to US$165 million. Despite weaker palm product output, Golden Agri-Resources managed to deliver better results compared to the same period last year, supported by its integrated business model and the appreciation of CPO market prices.

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