ANALYSTS SAY: Buy, Sell, Hold (13 Dec)

buy sell hold 2021

CGS CIMB	UOB KAYHIAN
SATS Ltd Add a little bit of Twyst ■ We attended the soft launch of Twyst, a new F&B concept by SATS’s food solutions ventures arm that explores growth opportunities for the segment. ■ Twyst features SATS’s food solutions brands and products, while partnering with corporates and brands such as SMRT and Tiong Hoe Specialty Coffee. ■ Success will be a nudge towards growing business to group’s target revenue of S$3bn by FY25, and could pave the way for scaling of future ventures. Read More ...	STRATEGY – SINGAPORE 1H22 Market Strategy We believe that the STI will continue to perform well in 2022. Singapore’s strong GDP growth in 2021 has set the stage for a 29% EPS growth in 2022 on our estimates. Importantly, the STI’s valuations are not stretched at present, trading at 2022F PE and P/B of 13.2x and 1.1x respectively and paying a yield of over 4%. Our year-end 2022 target for the STI is 3,500. Read More ...
MAYBANK KIM ENG	MAYBANK KIM ENG
Top Glove (TOPG MK) ASP outlook remains challenging Hit by lower ASP and sales volume TOPG’s 1QFY22 net profit of MYR186m was below our and consensus fullyear estimates. Management expects ASP to continue falling but at a slower pace. It remains cautious and will defer some of the expansion plans. We lower our FY22/23/24 EPS forecasts by -27%/-5%/-4%. We now value TOPG at MYR1.61 on an unchanged 12.7x CY23 PER. SELL. Read More ...	Astro Malaysia (ASTRO MK) 3QFY22: Not bad considering the circumstances Maintain BUY with a higher TP of MYR1.38 (+1%) Results were above our expectations. 4QFY22 operations ought to better QoQ as the FMCO ends but there will likely be a one-off negative impact from Cukai Makmur. We trim our FY22E EPS by 4% but raise FY23E/FY24E EPS by 7%/9%. Our DCF-TP is tweaked to MYR1.38 from MYR1.36 as we roll forward valuation base year to end-FY23E from end-FY22E. We continue to like ASTRO as an earnings turnaround and high dividend yield offering. Read More ...

Check out our compilation of Target Prices

Counter Name	Last	Change
AEM Holdings	2.490	0.120
Best World	2.460	-
Boustead Singapore	0.955	0.010
Broadway Ind	0.130	-0.003
China Aviation Oil (S)	0.920	-
China Sunsine	0.420	-
ComfortDelGro	1.500	0.020
Delfi Limited	0.895	-
Food Empire	1.300	0.040
Fortress Minerals	0.310	0.010
Geo Energy Res	0.310	0.005
Hong Leong Finance	2.530	0.030
Hongkong Land (USD)	3.110	-0.030
InnoTek	0.560	0.010
ISDN Holdings	0.305	-
ISOTeam	0.044	-
IX Biopharma	0.043	0.001
KSH Holdings	0.250	-
Leader Env	0.047	-
Ley Choon	0.044	-0.001
Marco Polo Marine	0.070	0.003
Mermaid Maritime	0.142	0.003
Nordic Group	0.310	0.005
Oxley Holdings	0.088	-
REX International	0.132	-0.001
Riverstone	0.820	0.025
Southern Alliance Mining	0.430	-
Straco Corp.	0.485	-
Sunpower Group	0.200	-0.010
The Trendlines	0.063	-0.004
Totm Technologies	0.021	-0.001
Uni-Asia Group	0.820	-
Wilmar Intl	3.340	-0.130
Yangzijiang Shipbldg	1.720	-0.020

Counter Name

Last

Change

AEM Holdings

2.490

0.120

Best World

2.460

Boustead Singapore

0.955

0.010

Broadway Ind