ANALYSTS SAY: Buy, Sell, Hold (18 May)

buy sell hold 2021

CGS CIMB	CGS CIMB
Jumbo Group Limited Bumpy path to recovery ■ 1HFY9/22 net loss of S$4.5m was below our expectations due to Omicron impacts. Significant easing of Covid measures in Singapore will aid recovery. ■ However, key overhang is strict Covid-19 restrictions in China (7 outlets). We now expect Jumbo to remain loss-making in FY22F (S$5m net loss). ■ Reiterate Hold with lower TP of S$0.30, still based on 20.5x CY23F P/E. Read More ...	Property Devt & Invt New home sales hold steady mom ■ Apr 2022 monthly ex-EC new home sales held steady mom at 653 units. ■ Resale and HDB resale volumes remained stable, even as prices ticked up. ■ Reiterate sector Overweight on valuations. Sector top picks: UOL and CIT. Read More ...
CGS CIMB	MAYBANK KIM ENG
Banks Key takeaways from digital banking ESS ■ In 2023, we think new digital banks will aim to capture shares in an untapped value pool (revenue) of RM10bn, out of the sector’s RM91bn (EY estimate). ■ In our view, new digital banks will take 3-5 years to break even; hence, we do not expect them to start a long-lasting price war within this period. ■ The emergence of new digital banks does not alter our positive outlook for the sector; reiterate Overweight on banks. Read More ...	Dialog Group (DLG MK) A ST blip, LT investment case remains firm Maintain BUY and MYR4.90 TP 9MFY22 results came in below, on lower profits from its independent terminal ops due to lower ASP and higher overall opex (manpower, supply chain setbacks) in 3QFY22, which led to an 8-9% cut in FY22-24 earnings. We see this as a temporary setback. Its tank terminal operations remain its core earnings push and developing Pengerang to its full potential remains its key agenda. Our SOP-based TP is unchanged. Read More ...

Counter Name	Last	Change
AEM Holdings	1.840	-0.020
Best World	2.480	-
Boustead Singapore	0.950	-0.005
Broadway Ind	0.145	0.005
China Aviation Oil (S)	0.865	-0.005
China Sunsine	0.390	-0.005
ComfortDelGro	1.390	-0.010
Delfi Limited	0.875	-
Food Empire	1.120	-0.010
Fortress Minerals	0.310	-
Geo Energy Res	0.300	0.005
Hong Leong Finance	2.420	-0.010
Hongkong Land (USD)	3.420	0.010
InnoTek	0.505	-
ISDN Holdings	0.300	-0.005
ISOTeam	0.047	-
IX Biopharma	0.039	-0.004
KSH Holdings	0.245	-
Leader Env	0.049	-
Ley Choon	0.055	-0.001
Marco Polo Marine	0.068	-0.003
Mermaid Maritime	0.135	0.002
Nordic Group	0.305	-
Oxley Holdings	0.090	0.001
REX International	0.124	-
Riverstone	0.930	0.005
Southern Alliance Mining	0.480	-
Straco Corp.	0.490	-
Sunpower Group	0.230	-
The Trendlines	0.063	-
Totm Technologies	0.019	-0.002
Uni-Asia Group	0.810	-0.035
Wilmar Intl	3.160	-
Yangzijiang Shipbldg	1.750	-0.020

Counter Name

Last

Change

AEM Holdings

1.840

-0.020

Best World

2.480

Boustead Singapore

0.950

-0.005

Broadway Ind