We initiate coverage on CENT with a BUY and TP of SGD1.45, based on 1x FY25E P/B. Despite the share price’s outperformance, we believe the current valuation of ...

With an ongoing construction upcycle last seen during the post GFC era, coupled with the strong orderbook as well as the CEO buying the shares despite ...

STE has set high single digit top line and low-to-mid teen bottom line growth targets for the next five years. Defense, digital businesses and smart city ...

By our estimate, the proposed acquisition is valued at EV/ planted ha of USD10,202, a decent price considering the scarcity of land. At 37.5x 2024 PER, it is ST ...

Our channel checks show that Frencken is benefiting from strong orders from its semi-con customers. We expect orders to increase by 30% from its European ...

With Wee Hur’s acquirer obtaining approval from the Australian Commonwealth Treasury to buy its Australia student accommodation business, we believe approval ...

LHN released its 1QFY25 voluntary business update with no financial details. As at 31 Dec 2024, the group maintained healthy overall occupancy rate of over 95% ...

SCI reported 2H PATMI of SGD471m, -13%HoH/+14%YoY. FY24 PATMI of SGD1.011b was +7%YoY and PATMI from continuing operations of SGD1.02b was unchanged YoY. Higher ...

FY24 core PATMI beat ours / street estimates. Despite our forecast for EPS retracement in FY25E (-6% YoY), valuation looks attractive trading at single-digit ...

U/G to BUY from HOLD we think earnings have bottomed. UMS’s FY24 PATMI of SGD40.6m was slightly below our and consensus estimates. UMS is still facing labour ...

Following the 3Q business update, we hosted management for a call with select group of investors. Mgmt. affirmed outlook of positive but slowing reversion. ...

FY24 revenue of SGD794.3m and earnings of SGD37.1m (+6.9% and +14.3% YoY) are in line with our estimates. Frencken expects semi-con sales to increase further in ...

FY24 NPAT of SGD11.6m is better than we expected. Management is expecting SGD155-170m revenue for 1H25, but management is expecting a stronger 2H25. It is in ...

4Q24 core PATMI of SGD57.1m (+15.8% YoY; +2.3% QoQ) meets ours and street expectations, taking FY24 earnings to SGD210.5m (+16.6% YoY). CD declared a final DPS ...

FY24’s core PATMI beat ours & consensus estimates by 9%/12% respectively. For FY25E, we now forecast a 2% YoY growth in core PATMI mainly on better FFB output. ...

CLI reported FY24 PATMI of SGD479m, +165% yoy. Operating PATMI of SGD510m was -10%YoY, in line with MIBG est. Bottom line was driven by lower revaluation losses ...

STE reported FY24 PATMI of SGD702.3m, +19.7%YoY. Growth was led by double-digit revenue growth led by aerospace and defense and public security, and higher EBIT ...

Core PATMI surged 63% YoY to SGD36.8m, above ours and consensus. Net profit margin rose to 4.3% from 3.1%. We believe the board will implement a dividend policy ...

FEH core NPAT dropped 11.4% YoY to SGD50m, in line with our estimates due to lower margins on higher raw material costs. We expect margins to improve as the ...

Aztech FY24 revenue and NPAT dropped 31% and 30% YoY to SGD621.6m and SGD70.5m, respectively, in line with our forecasts. It added 7 new customers in FY24 with ...