Yangzijiang Shipbuilding Holdings Ltd.

Yangzijiang Shipbuilding Holdings is an investment holding company. Through its subsidiaries, Co. operates in two segments: shipbuilding, which is engaged in shipbuilding, ship breaking, offshore marine equipment construction, and ship design; and investment, which consist of microfinancing, investments in financial assets, held-to-maturity, and venture capital activities.
  • TickerB8O
  • ISINSG1U76934819
  • SectorIndustrial Engineering
  • CountryGermany
Singapore Research Team
  • Singapore Research Team
G13 Genting Singapo... (Industrial Goods & Services)
F34 Wilmar Internat... (Food & Beverage) ... (+11)

Strategy - Alpha Picks: Removing OCBC and SIA, adding ART, Singtel and...

In 3Q21, our Alpha Picks portfolio marginally underperformed the STI, declining 2.2% qoq on an equal-weighted basis vs the latter’s 1.4% decline. For Oct 21, we have removed OCBC and SIA, and added Ascott Residence Trust, SingTel and Wilmar.

Singapore Research Team
  • Singapore Research Team
G13 Genting Singapo... (Industrial Goods & Services)
F34 Wilmar Internat... (Food & Beverage) ... (+11)

Singapore Daily - Tuesday, October 05, 2021

KEY HIGHLIGHTS Strategy Alpha Picks: Removing OCBC, SIA; Adding ART, Singtel, Wilmar: Our portfolio underperformed the STI in 3Q21. For Oct 21, we remove OCBC and SIA, and add ART, Singtel and Wilmar. TRADERS’ CORNER SATS (SATS SP): Trading Buy Thai Beverage (THBEV SP): Trading Buy

Adrian Loh Tzum Yung
  • Adrian Loh Tzum Yung
U96 Sembcorp Indust... (Oil & Gas)
B8O Yangzijiang Shi... (Industrial Goods & Services) ... (+4)

Offshore Marine - Daylight in sight - industry metrics appear to have ...

With competitive utilisation of offshore rigs approaching pre-pandemic levels and industry activity expected to pick up in 2022, we upgrade our sector weighting to OVERWEIGHT. We believe that current long-term oil prices that are around the US$60/bbl levels are supportive of higher industry capex, and nearer term we could see US$100/bbl. Our top picks are Yangzijiang, Keppel and Sembcorp Marine.

U96 Sembcorp Indust... (Oil & Gas)
B8O Yangzijiang Shi... (Industrial Goods & Services)
BN4 Keppel Corporat... (Utilities)
SMM Sembcorp Marine...
B8O Yangzijiang Shi... (Industrial Goods & Services)

YANGZIJIANG SHIPBUILDING (HOLDINGS) with less fundamental stars is red...

YANGZIJIANG SHIPBUILDING (HOLDINGS) (SG), a company active in the Commercial Vehicles & Trucks industry, loses a star(s) at the fundamental level and sees its general evaluation downgraded. The independent financial analyst theScreener just removed a fundamental star(s) for a 2 over 4-star rating. As such, market behaviour remains unchanged and is evaluated as moderately risky. theScreener believes that the loss of a star(s) merits downgrade to the general evaluation of the title, which passes to Neutral. As of the analysis date September 24, 2021, the closing price was SGD 1.43 and its expect...

Adrian Loh Tzum Yung
  • Adrian Loh Tzum Yung
B8O Yangzijiang Shi... (Industrial Goods & Services)

Yangzijiang Shipbuilding (Holdings) (YZJSGD SP) - Fundamentals remain ...

Steel prices, representing one-third of YZJ’s costs, have stabilised while iron ore prices have collapsed, thus implying higher margins going forward, especially as more of YZJ’s high-margin containership orders are built. On the demand side, shipowners are experiencing bullish industry conditions, which will potentially underpin order flow into 2022. We remain comfortable with YZJ’s low loan-to-valuation for its property collateral within its debt investments business. Maintain BUY. Target price: S$2.00.

Singapore Research Team
  • Singapore Research Team
G13 Genting Singapo... (Industrial Goods & Services)
F34 Wilmar Internat... (Food & Beverage) ... (+11)

Strategy - Alpha Picks: Removing OCBC and SIA, adding ART, Singtel and...

In 3Q21, our Alpha Picks portfolio marginally underperformed the STI, declining 2.2% qoq on an equal-weighted basis vs the latter’s 1.4% decline. For Oct 21, we have removed OCBC and SIA, and added Ascott Residence Trust, SingTel and Wilmar.

Singapore Research Team
  • Singapore Research Team
G13 Genting Singapo... (Industrial Goods & Services)
F34 Wilmar Internat... (Food & Beverage) ... (+11)

Singapore Daily - Tuesday, October 05, 2021

KEY HIGHLIGHTS Strategy Alpha Picks: Removing OCBC, SIA; Adding ART, Singtel, Wilmar: Our portfolio underperformed the STI in 3Q21. For Oct 21, we remove OCBC and SIA, and add ART, Singtel and Wilmar. TRADERS’ CORNER SATS (SATS SP): Trading Buy Thai Beverage (THBEV SP): Trading Buy

Adrian Loh Tzum Yung
  • Adrian Loh Tzum Yung
U96 Sembcorp Indust... (Oil & Gas)
B8O Yangzijiang Shi... (Industrial Goods & Services) ... (+4)

Offshore Marine - Daylight in sight - industry metrics appear to have ...

With competitive utilisation of offshore rigs approaching pre-pandemic levels and industry activity expected to pick up in 2022, we upgrade our sector weighting to OVERWEIGHT. We believe that current long-term oil prices that are around the US$60/bbl levels are supportive of higher industry capex, and nearer term we could see US$100/bbl. Our top picks are Yangzijiang, Keppel and Sembcorp Marine.

U96 Sembcorp Indust... (Oil & Gas)
B8O Yangzijiang Shi... (Industrial Goods & Services)
BN4 Keppel Corporat... (Utilities)
SMM Sembcorp Marine...
B8O Yangzijiang Shi... (Industrial Goods & Services)

YANGZIJIANG SHIPBUILDING (HOLDINGS) with less fundamental stars is red...

YANGZIJIANG SHIPBUILDING (HOLDINGS) (SG), a company active in the Commercial Vehicles & Trucks industry, loses a star(s) at the fundamental level and sees its general evaluation downgraded. The independent financial analyst theScreener just removed a fundamental star(s) for a 2 over 4-star rating. As such, market behaviour remains unchanged and is evaluated as moderately risky. theScreener believes that the loss of a star(s) merits downgrade to the general evaluation of the title, which passes to Neutral. As of the analysis date September 24, 2021, the closing price was SGD 1.43 and its expect...

Adrian Loh Tzum Yung
  • Adrian Loh Tzum Yung
B8O Yangzijiang Shi... (Industrial Goods & Services)

Yangzijiang Shipbuilding (Holdings) (YZJSGD SP) - Fundamentals remain ...

Steel prices, representing one-third of YZJ’s costs, have stabilised while iron ore prices have collapsed, thus implying higher margins going forward, especially as more of YZJ’s high-margin containership orders are built. On the demand side, shipowners are experiencing bullish industry conditions, which will potentially underpin order flow into 2022. We remain comfortable with YZJ’s low loan-to-valuation for its property collateral within its debt investments business. Maintain BUY. Target price: S$2.00.

Singapore Research Team
  • Singapore Research Team
G13 Genting Singapo... (Industrial Goods & Services)
F34 Wilmar Internat... (Food & Beverage) ... (+11)

Strategy - Alpha Picks: Removing OCBC and SIA, adding ART, Singtel and...

In 3Q21, our Alpha Picks portfolio marginally underperformed the STI, declining 2.2% qoq on an equal-weighted basis vs the latter’s 1.4% decline. For Oct 21, we have removed OCBC and SIA, and added Ascott Residence Trust, SingTel and Wilmar.

Singapore Research Team
  • Singapore Research Team
G13 Genting Singapo... (Industrial Goods & Services)
F34 Wilmar Internat... (Food & Beverage) ... (+11)

Singapore Daily - Tuesday, October 05, 2021

KEY HIGHLIGHTS Strategy Alpha Picks: Removing OCBC, SIA; Adding ART, Singtel, Wilmar: Our portfolio underperformed the STI in 3Q21. For Oct 21, we remove OCBC and SIA, and add ART, Singtel and Wilmar. TRADERS’ CORNER SATS (SATS SP): Trading Buy Thai Beverage (THBEV SP): Trading Buy

Adrian Loh Tzum Yung
  • Adrian Loh Tzum Yung
U96 Sembcorp Indust... (Oil & Gas)
B8O Yangzijiang Shi... (Industrial Goods & Services) ... (+4)

Offshore Marine - Daylight in sight - industry metrics appear to have ...

With competitive utilisation of offshore rigs approaching pre-pandemic levels and industry activity expected to pick up in 2022, we upgrade our sector weighting to OVERWEIGHT. We believe that current long-term oil prices that are around the US$60/bbl levels are supportive of higher industry capex, and nearer term we could see US$100/bbl. Our top picks are Yangzijiang, Keppel and Sembcorp Marine.

U96 Sembcorp Indust... (Oil & Gas)
B8O Yangzijiang Shi... (Industrial Goods & Services)
BN4 Keppel Corporat... (Utilities)
SMM Sembcorp Marine...
B8O Yangzijiang Shi... (Industrial Goods & Services)

YANGZIJIANG SHIPBUILDING (HOLDINGS) with less fundamental stars is red...

YANGZIJIANG SHIPBUILDING (HOLDINGS) (SG), a company active in the Commercial Vehicles & Trucks industry, loses a star(s) at the fundamental level and sees its general evaluation downgraded. The independent financial analyst theScreener just removed a fundamental star(s) for a 2 over 4-star rating. As such, market behaviour remains unchanged and is evaluated as moderately risky. theScreener believes that the loss of a star(s) merits downgrade to the general evaluation of the title, which passes to Neutral. As of the analysis date September 24, 2021, the closing price was SGD 1.43 and its expect...

Adrian Loh Tzum Yung
  • Adrian Loh Tzum Yung
B8O Yangzijiang Shi... (Industrial Goods & Services)

Yangzijiang Shipbuilding (Holdings) (YZJSGD SP) - Fundamentals remain ...

Steel prices, representing one-third of YZJ’s costs, have stabilised while iron ore prices have collapsed, thus implying higher margins going forward, especially as more of YZJ’s high-margin containership orders are built. On the demand side, shipowners are experiencing bullish industry conditions, which will potentially underpin order flow into 2022. We remain comfortable with YZJ’s low loan-to-valuation for its property collateral within its debt investments business. Maintain BUY. Target price: S$2.00.

Singapore Research Team
  • Singapore Research Team
G13 Genting Singapo... (Industrial Goods & Services)
F34 Wilmar Internat... (Food & Beverage) ... (+11)

Strategy - Alpha Picks: Removing OCBC and SIA, adding ART, Singtel and...

In 3Q21, our Alpha Picks portfolio marginally underperformed the STI, declining 2.2% qoq on an equal-weighted basis vs the latter’s 1.4% decline. For Oct 21, we have removed OCBC and SIA, and added Ascott Residence Trust, SingTel and Wilmar.

Singapore Research Team
  • Singapore Research Team
G13 Genting Singapo... (Industrial Goods & Services)
F34 Wilmar Internat... (Food & Beverage) ... (+11)

Singapore Daily - Tuesday, October 05, 2021

KEY HIGHLIGHTS Strategy Alpha Picks: Removing OCBC, SIA; Adding ART, Singtel, Wilmar: Our portfolio underperformed the STI in 3Q21. For Oct 21, we remove OCBC and SIA, and add ART, Singtel and Wilmar. TRADERS’ CORNER SATS (SATS SP): Trading Buy Thai Beverage (THBEV SP): Trading Buy

Adrian Loh Tzum Yung
  • Adrian Loh Tzum Yung
U96 Sembcorp Indust... (Oil & Gas)
B8O Yangzijiang Shi... (Industrial Goods & Services) ... (+4)

Offshore Marine - Daylight in sight - industry metrics appear to have ...

With competitive utilisation of offshore rigs approaching pre-pandemic levels and industry activity expected to pick up in 2022, we upgrade our sector weighting to OVERWEIGHT. We believe that current long-term oil prices that are around the US$60/bbl levels are supportive of higher industry capex, and nearer term we could see US$100/bbl. Our top picks are Yangzijiang, Keppel and Sembcorp Marine.

U96 Sembcorp Indust... (Oil & Gas)
B8O Yangzijiang Shi... (Industrial Goods & Services)
BN4 Keppel Corporat... (Utilities)
SMM Sembcorp Marine...
B8O Yangzijiang Shi... (Industrial Goods & Services)

YANGZIJIANG SHIPBUILDING (HOLDINGS) with less fundamental stars is red...

YANGZIJIANG SHIPBUILDING (HOLDINGS) (SG), a company active in the Commercial Vehicles & Trucks industry, loses a star(s) at the fundamental level and sees its general evaluation downgraded. The independent financial analyst theScreener just removed a fundamental star(s) for a 2 over 4-star rating. As such, market behaviour remains unchanged and is evaluated as moderately risky. theScreener believes that the loss of a star(s) merits downgrade to the general evaluation of the title, which passes to Neutral. As of the analysis date September 24, 2021, the closing price was SGD 1.43 and its expect...

Adrian Loh Tzum Yung
  • Adrian Loh Tzum Yung
B8O Yangzijiang Shi... (Industrial Goods & Services)

Yangzijiang Shipbuilding (Holdings) (YZJSGD SP) - Fundamentals remain ...

Steel prices, representing one-third of YZJ’s costs, have stabilised while iron ore prices have collapsed, thus implying higher margins going forward, especially as more of YZJ’s high-margin containership orders are built. On the demand side, shipowners are experiencing bullish industry conditions, which will potentially underpin order flow into 2022. We remain comfortable with YZJ’s low loan-to-valuation for its property collateral within its debt investments business. Maintain BUY. Target price: S$2.00.

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