ANALYSTS SAY: Buy, Sell, Hold (19 Oct)

buy sell hold 2021

UOB KAYHIAN	UOB KAYHIAN
Wilmar International (WIL SP) 3Q22 Results Preview: Another Potentially Good Quarter Wilmar is scheduled to release its 3Q22 Executive Financial Summary on 28 Oct 22. Based on our current estimates, we expect Wilmar to report a core net profit of US$470m-490m for 3Q22 (3Q21: US$576m; 2Q22: US$477m). However, the industry trends that we observed for 3Q22 could signal stronger earnings, which could come within US$530m-550m supported by better-than-expected margins from palm oil downstream and soybean crushing. Maintain BUY. Target price: S$5.50. Read More ...	SATS (SATS SP) More Palatable Risk-reward Profile After Share Price Decline In the investor meeting during UOB Kay Hian’s Asian Gem Conference, management shared insights and clarified investors’ queries about the WFS deal. Following the sharp share price drop after the acquisition announcement, SATS’ risk-reward profile is more attractive in our view and suits investors with a longer-term horizon. We upgrade SATS to BUY, with a lower target price of S$3.08 based on an SOTP valuation, factoring in very conservative valuation metrics for WFS. Read More ...
CGS CIMB	CGS CIMB
Affin Bank Berhad 11% dividend yield against P/BV of only 0.4x ■ As we expected, Affin declared a special dividend on 18 Oct, but the special DPS of 18 sen was smaller than the 22 sen we had estimated. ■ Together with an interim DPS of 4.5 sen, the DPS declared on 18 Oct was 22.5 sen, translating to bumper dividend yield of 11.1%. ■ Reiterate Add given its attractive dividend yield and for having the strongest loan growth among the Malaysian banks under our coverage. Read More ...	Telco - Overall Closing in on year-end JENDELA targets ■ No hiccups in 3Q22 as telcos remain well on track to hit JENDELA Phase 1 targets by year-end. ■ Access pricing will only be finalised in Feb 2023. MCMC highlighted that the final price for HSBB in the 2017 review was higher than initially proposed. ■ Reiterate sector Overweight, with TM (Add, TP: RM7.30) as our top pick. Read More ...

Counter Name	Last	Change
AEM Holdings	2.370	0.030
Best World	2.460	-
Boustead Singapore	0.945	-0.015
Broadway Ind	0.133	-
China Aviation Oil (S)	0.920	-0.005
China Sunsine	0.420	0.005
ComfortDelGro	1.480	-
Delfi Limited	0.895	-
Food Empire	1.260	-
Fortress Minerals	0.300	-0.005
Geo Energy Res	0.305	-0.005
Hong Leong Finance	2.500	-
Hongkong Land (USD)	3.140	0.020
InnoTek	0.550	0.030
ISDN Holdings	0.305	-0.005
ISOTeam	0.044	0.001
IX Biopharma	0.042	0.001
KSH Holdings	0.250	-
Leader Env	0.047	-0.004
Ley Choon	0.045	-
Marco Polo Marine	0.067	-
Mermaid Maritime	0.139	-0.001
Nordic Group	0.305	-0.005
Oxley Holdings	0.088	-0.001
REX International	0.133	-0.003
Riverstone	0.795	-0.020
Southern Alliance Mining	0.430	-
Straco Corp.	0.485	-0.025
Sunpower Group	0.210	0.005
The Trendlines	0.067	-
Totm Technologies	0.022	-
Uni-Asia Group	0.820	-0.005
Wilmar Intl	3.470	-0.030
Yangzijiang Shipbldg	1.740	-0.010

Counter Name

Last

Change

AEM Holdings

2.370

0.030

Best World

2.460

Boustead Singapore

0.945

-0.015

Broadway Ind