After a near-perfect operating recovery in FY18 from the perfect storm of the prior year, FY19 holds a host of growth challenges given high base effects of ...

VALUE believes PCBA sales might be pressured if its customer decides to diversify its supplier pool due to the Sino-US trade war. To gauge the downside from ...

We initiate coverage with a SELL, DCF-based TP of SGD0.95 (7.8% WACC, 1% LTG), implying 19.5x FY19 P/E, less than 1SD below its 5-year mean. We believe SSG will ...

2019’s net profit will benefit from high brought forward inventory in addition to higher FFB growth, driven by new areas coming to maturity and a young tree age ...

We initiate coverage of ComfortDelGro (CDG) with a HOLD and DCF-based (WACC 9%, LTG 1%) TP of SGD2.45. We believe its transport focus plus global expansion ...

FY18 results came in within our expectations but below streets, mainly due to net inventory build-up of ~28,000 tonnes in 4Q18. For FY19, we expect earnings ...

Amid an expected slowdown of HDMT test handlers (TH) sales, 4Q18 PATMI fell 55% YoY on the back of a 33% drop in revenue. Still, FY18 PATMI of SGD33.5m (+6.4%) ...

No surprises to FY18 results. We expect +14% EPS growth for FY19 underpinned by higher output and better prices. We like BAL for its low cost of production. ...

U/G to HOLD from SELL as the worst appears over, but FY19E earnings growth YoY may be limited. FY18 core PATMI exceeded our est. by 26% (Consensus N.M.). ...

Core 4Q18 earnings (+7% YoY) were in line with MKE and consensus estimates. 4Q18 NIM was flat YoY, but this should turn around once newly repriced asset yields ...

Core-2018 net profit was in line with our estimate and below consensus. 4Q18 earnings fell 10% YoY and 26% QoQ due to weaker insurance income and higher credit ...

FY18 PATMI was 7% above our estimate but in line with the street. 4Q18 core PATMI fell 18% YoY due to customers’ product transitions as well as M&A but was 33% ...

FY18 core net profit was at the lower end of our expectations only due to higher-than-expected depreciation & amortisation (D&A). Thus, we trim our forward ...

DBS will transfer retail equity trading to the bank from DBS Vickers. DBS is looking to drive retail equity trading online from the traditional ‘remisier’ ...

4Q18/FY18 reported profit fell 26%/3% YoY and was below our and consensus expectation due to a number of one-offs. Underlying core profit was softer than ...

Sasseur REIT achieved a strong close for its FY18 (from 28 Mar to 31 Dec 2018). 4Q18 DPU of SGD1.56 cts brings its FY18 DPU to SGD5.128cts, or 12.6% ahead of ...

mm2’s higher than expected finance charges and tax rate related to its acquisition of Cathay Cineleisure led us to cut our 2019-21E core profit forecasts by ...

Core 2018 NP was in line with MKE and Street est.'s with 4Q18 +8.3% YoY. Higher NIM (+9bps) and loan growth (+6.7%) were key drivers that will continue to push ...

As usual, management provided a cautious outlook during the 3QFY19 analyst briefing. However, the undertone is they have passed the worst and there are just a ...

One-off expenses diluted what was an in line performance by StarHub for FY2018. The reduced payout policy was in line with our previous forecast for 2019E DPS. ...