ANALYSTS SAY: Buy, Sell, Hold (9 May)

buy sell hold 2021

CGS CIMB	CGS CIMB
AEM Holdings Ltd Still on track for multi-year product ramp-up ■ 1Q22 revenue and net profit were above our and Bloomberg consensus fullyear expectations. ■ AEM raised its FY22F revenue guidance to S$700m-750m (from S$670m720m). ■ Reiterate Add and TP of S$6.85. FY22F performance could be stronger in the first half, in our view. Read More ...	Frasers Logistics & Commercial Trust Stable performance ■ 1HFY9/22 DPU of 3.85 Scts slightly below expectations, at 47.3% of our fullyear forecast ■ Robust financial metrics support potential inorganic growth ■ Reiterate Add with an unchanged DDM-based TP of S$1.56 Read More ...
CGS CIMB	UOB KAYHIAN
SIA Engineering Recovery on track ■ 2HFY3/22 net profit of S$43m was below our expectation due to higher staff costs. Associate earnings (+356% yoy) were the key earnings driver. ■ We expect airframe overhaul and line maintenance revenue to recover to 75%/90%/100% of pre-Covid-19 levels in FY23F/24F/25F. ■ Though the stock has appreciated 20% YTD, it is still attractive at 1 s.d. below 10-year mean. Reiterate Add with an unchanged TP of S$2.92. Read More ...	CapitaLand Integrated Commercial Trust (CICT SP) 1Q22: Triple-Play On Reopening In Singapore Negative rent reversion for CICT’s portfolio of retail malls narrowed from -7.3% in 4Q21 to -4.1% in 1Q22. Occupancy for Singapore office improved 1.9ppt qoq to 92.3%. CICT achieved strong positive rent reversion of 9.3% for office properties, driven by Capital Tower and The Atrium@Orchard. CICT’s downtown malls, suburban malls and office buildings benefit from the reopening. CICT provides distribution yields of 5.0% for 2022 and 5.3% for 2023. Maintain BUY. Target price: S$2.45. Read More ...

Counter Name	Last	Change
AEM Holdings	2.340	-0.020
Best World	2.480	-
Boustead Singapore	0.940	-0.005
Broadway Ind	0.133	-
China Aviation Oil (S)	0.920	-
China Sunsine	0.415	-0.005
ComfortDelGro	1.440	-0.040
Delfi Limited	0.880	-0.005
Food Empire	1.120	-0.050
Fortress Minerals	0.310	-
Geo Energy Res	0.295	0.005
Hong Leong Finance	2.530	-
Hongkong Land (USD)	3.300	0.050
InnoTek	0.535	-0.005
ISDN Holdings	0.300	-
ISOTeam	0.043	-
IX Biopharma	0.041	-0.006
KSH Holdings	0.250	-
Leader Env	0.052	-
Ley Choon	0.052	0.003
Marco Polo Marine	0.068	-0.001
Mermaid Maritime	0.135	-0.004
Nordic Group	0.315	-
Oxley Holdings	0.090	0.002
REX International	0.126	0.001
Riverstone	0.790	0.015
Southern Alliance Mining	0.455	-0.030
Straco Corp.	0.500	0.015
Sunpower Group	0.210	-0.005
The Trendlines	0.065	0.003
Totm Technologies	0.021	-0.001
Uni-Asia Group	0.830	-0.010
Wilmar Intl	3.220	-0.010
Yangzijiang Shipbldg	1.710	-

Counter Name

Last

Change

AEM Holdings

2.340

-0.020

Best World

2.480

Boustead Singapore

0.940

-0.005

Broadway Ind