reports
- Benjaphol Suthwanish
The Erawan Group (ERW TB) - Expect Earnings In 1Q24 To Beat 1Q19 Earni...
We expect ERW to report a net profit of Bt272m (+14% yoy, +27% qoq) in 1Q24 supported by a robust average room rate growth (+10% yoy, +6% qoq). Earnings would surpass the pre-COVID-19 level, contributed by strong international arrivals in the past quarter. We are optimistic on 2Q24 as hotels in Japan have all started their operation prior to the high season. Maintain BUY. Target price: Bt6.50.
- Kampon Akaravarinchai
Thailand Food – More Selective Buy After Share Price Rally
We expect sector earnings to continue to improve throughout the year due to better domestic and Vietnamese swine prices as well as with lower costs. TFG is expected to turn profitable in 1Q24 before its peers do. Given the rally in food companies’ share prices, we recommend more selective buy strategies. Our top picks are TFG and TU. Maintain OVERWEIGHT.
- Kasemsun Koonnara
Thailand Property – Expect Poor Results In 1Q24; Recovery Starting Fr...
We expect the property sector to report poor results in 1Q24, decreasing 31% yoy and 45% qoq, mainly due to a slowdown in the residential market amid multiple headwinds. Although we are concerned about multiple headwinds in the market, we are cautiously optimistic that the worst may be behind us. We expect the sector's earnings to improve from 2Q24 onwards. We recommend a selective BUY and sticking with market leaders. We upgrade the sector to MARKET WEIGHT.
Moody's Ratings says Park's senior unsecured notes offering has no imp...
Moody's Ratings (Moody's) says Park Intermediate Holdings LLC's ("Park") new senior unsecured notes offering will not impact the B1 corporate family rating, B1 senior unsecured ratings or stable outlook at this time. The transaction includes $550 million of new senior notes due 2030. Proceeds from...
- Adrian Loh Tzum Yung
- Jonathan Koh
- Singapore Research Team
Singapore Daily - Friday, May 03, 2024
KEY HIGHLIGHTS Strategy Alpha Picks: A Softer Month; Add FEHT, MPACT, GENS; Remove BAL, LREIT And CLAS: Our Alpha Picks portfolio rises 0.4% mom in Apr 24, underperforming the STI by 1.7ppt. Results DBS Group Holdings (DBS SP/BUY/S$34.90/Target: S$40.70): 1Q24: Accelerating pace of returning surplus capital to shareholders. TRADERS’ CORNER Yoma Strategic (YOMA SP): Trading BUY Singapore Tech Engineering (STE SP): Trading SELL
- Benjaphol Suthwanish
- Kampon Akaravarinchai
- Kasemsun Koonnara
Thailand Daily - Friday, May 03, 2024
KEY HIGHLIGHTS Sector Property Expect poor results in 1Q24; recovery starting from 2Q24 onwards. Upgrade to MARKET WEIGHT. Food & Beverage More selective buy after share price rally. Update The Erawan Group (ERW TB/BUY/Bt4.82/Target: Bt6.50) Expect earnings in 1Q24 to beat 1Q19 earnings.
- Limartha Adhiputra
Trimegah Bangun Persada (NCKL IJ) - 1Q24: NPAT Continues To Decline 13...
NCKL’s 1Q24 NPAT was Rp1.0t, down 26.8% yoy and 13.3% qoq due to lower nickel ASP. The 1Q24 NPAT was below expectations at only 15.9% of our 2024 NPAT forecast. However, we make no changes to our 2024 NPAT forecast as we expect higher ASP in 2Q24 following the rising LME nickel prices. We expect 2024 and 2025 NPAT to come in at Rp6.3t (+12.1% yoy) and Rp8.2t (+30.8% yoy) respectively. Maintain BUY with a target price of Rp1,100.
- Posmarito Pakpahan
Bank Mandiri (BMRI IJ) - 1Q24: Net Profit Up 1.1% yoy; Slightly Below ...
Despite NIM declining by 30bp yoy and flat non-interest income, 1Q24 net profit was up 1.1% yoy (-20.6% qoq), with ROE remaining high at 19.7%, which was supported by a 19% yoy loan growth and 13bp yoy decline in CoC. Loan yield was stable at 7.7%, but CoF increased 49bp yoy. The wholesale segment’s NPL ratio improved qoq and yoy while retail’s NPL ratio inched up. Maintain BUY with a lower target price of Rp7,300 as we cut our earnings estimates and ROE assumptions.
- Jacquelyn Yow Hui Li
- Leow Huey Chuen
Astra Agro Lestari (AALI IJ) - 1Q24: Within Expectations
AALI’s 1Q24 earnings came in within expectations. 1Q24 operating profit grew significantly on lower production costs. Earnings dropped due to higher financing cost and weak downstream margin. Note that AALI’s mill utilisation rate fell significantly to 50% in 1Q24 due to cost management with lower third-party purchases. Maintain SELL as we are concerned about its flat FFB production growth, lower mill utilisation rate and weak downstream margin.
eGain kündigt Webinar zu generativer KI für den Kundenservice mit Erfo...
eGain kündigt Webinar zu generativer KI für den Kundenservice mit Erfolgsgeschichte von führendem Kunden aus dem Versorgungssektor an SUNNYVALE, Kalifornien, May 03, 2024 (GLOBE NEWSWIRE) -- eGain (), die führende KI-Wissensplattform im Bereich Kundenservice, kündigte heute die Veranstaltung eines Online-Seminars über generative KI für den Kundenservice unter Beteiligung eines seiner führenden Kunden aus dem Versorgungssektor an. „Die meisten KI-Projekte scheitern. Einigen Schätzungen zufolge liegt die Misserfolgsquote bei bis zu 80 % – fast doppelt so hoch wie die Misserfolgsquote bei I...
eGain anuncia un seminario web sobre IA Gen para servicios en el que s...
eGain anuncia un seminario web sobre IA Gen para servicios en el que se presentará la historia de éxito de un cliente líder del sector de los servicios públicos SUNNYVALE, California, May 03, 2024 (GLOBE NEWSWIRE) -- eGain (), la plataforma líder de conocimientos de IA para el servicio de atención al cliente, ha anunciado hoy un seminario en línea sobre IA generativa para el servicio de atención al cliente, en el que participará uno de sus principales clientes del ámbito de los servicios públicos. «La mayoría de los proyectos de IA fracasan. Según algunas estimaciones, la tasa de fracaso...
eGain kondigt een webinar over Gen AI voor klantenservice aan, waarin ...
eGain kondigt een webinar over Gen AI voor klantenservice aan, waarin het succesvolle traject van een toonaangevende klant uit de nutssector wordt besproken SUNNYVALE, Calif., May 03, 2024 (GLOBE NEWSWIRE) -- eGain (), het toonaangevende AI-kennisplatform voor klantenservice, heeft vandaag een online seminar aangekondigd over generatieve AI voor klantenservice, waarin één van zijn toonaangevende klanten uit de nutssector wordt besproken. “Het merendeel van de AI-projecten mislukken. Het faalpercentage bedraagt op grond van sommige schattingen niet minder dan 80%; dat is bijna het dubbe...
eGain organise un webinaire sur l’IA générative appliquée aux prestati...
eGain organise un webinaire sur l’IA générative appliquée aux prestations de service, et en démontre le succès à l’appui du cas de l’un de ses clients, un acteur des services publics de première importance SUNNYVALE, État de Californie, 03 mai 2024 (GLOBE NEWSWIRE) -- eGain (), fournisseur numéro 1 de plateforme de gestion des connaissances dédiée au service client, annonce ce jour organiser un webinaire consacré aux applications de l’IA générative au service client mettant en vedette l’un de ses principaux clients du secteur des services publics. « Nombre de projets ciblés sur l’applica...
eGain annuncia un webinar dedicato all’IA generativa per il servizio c...
eGain annuncia un webinar dedicato all’IA generativa per il servizio clienti che racconterà la storia di successo di un cliente leader nel settore delle utility SUNNYVALE, California, May 03, 2024 (GLOBE NEWSWIRE) -- eGain (), la piattaforma di conoscenza basata sull’IA leader per il servizio clienti, ha annunciato in data odierna un seminario online dedicato all’IA generativa per il servizio clienti a cui parteciperà uno dei suoi principali clienti del settore delle utility. “La maggior parte dei progetti basati sull’IA falliscono. Alcune stime calcolano che questi fallimenti riguardino...
- Leonard Law
Lucror Analytics - Morning Views Asia
Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region, based on key company-specific developments in the past 24 hours. Our Morning Views include a section with a brief market commentary, key market indicators and a macroeconomic and corporate event calendar. To request full and unrestricted access to Lucror’s research and analytics platform, please visit
- Bella Lu Yifei
- Greater China Research Team
- Kate Luang
- Ken Lee
Greater China Daily: Friday, May 3, 2024
KEY HIGHLIGHTS Strategy Alpha Picks: May Conviction Call The HSI and MSCI China rose 7.4% and 6.4% mom respectively in April, lifted by news of a stock connect scheme expansion and further easing of restrictions on property purchases in China. With the July Politburo likely to see further supportive policy rollout, we are adding beneficiaries of improving domestic consumption − CR Beer, Crystal, Geely, Haier, Kuaishou, Ningbo Tuopu, Pinduoduo, Shenzhou and Tencent − to our BUY list, and clos...
Avis de convocation à l’assemblée générale 2024 des actionnaires ONWAR...
Avis de convocation à l’assemblée générale 2024 des actionnaires ONWARD® et propositions de résolutions EINDHOVEN, Pays-Bas, 03 mai 2024 (GLOBE NEWSWIRE) -- ONWARD Medical N.V. (Euronext : ONWD), société de technologie médicale à l’origine de thérapies innovantes ciblées sur la restauration du mouvement, de la fonction et de l’indépendance des patients vivant avec une lésion médullaire, annonce ce jour que l’assemblée générale 2024 de ses actionnaires (AG) se tiendra dans la capitale néerlandaise le 13 juin 2024. À cette occasion, la Société soumettra une série de résolutions à délibérati...
- Jacquelyn Yow Hui Li
- Johnny Yum
- Leow Huey Chuen
- Limartha Adhiputra
- Maskun Ramli
- Posmarito Pakpahan
Indonesia Daily - Friday, May 3, 2024
Strategy: Alpha Picks: Slight Outperformance In A Bear Market: Our picks are BSDE, TLKM, ACES, BBTN, CMRY, SIDO, JSMR and AKRA. Astra Agro Lestari (AALI IJ/SELL/Rp6,425/Target: Rp5,715): 1Q24: Within expectations. Maintain SELL as we are concerned with its flat FFB production growth, lower mill utilisation rate and weak downstream margin. Bank Mandiri (BMRI IJ/BUY/Rp6,325/Target: Rp7,300): 1Q24: Net profit up 1.1% yoy, slightly below expectations. Maintain BUY with a lower target price. Trime...
AALI ASTRA AGRO LESTARI
JSMR PT JASA MARGA (PERSERO) TBK CLASS B
BMRI PT BANK MANDIRI (PERSERO) TBK
BSDE PT BUMI SERPONG DAMAI TBK
ACES PT ACE HARDWARE INDONESIA TBK
PTI TELEKOMUNIKASI INDONESIA TBK PT (ADR)
SIDO INDUSTRI JAMU DAN FARMASI SI
BBTN BANK TABUNGAN NEGARA PERSERO TBK PT
CMRY PT CISARUA MOUNTAIN DAIRY TBK
NCKL PT TRIMEGAH BANGUN PERSADA TBK (HARITA NICKEL)
Moody's Ratings revises Stanford Health Care's (CA) outlook to positiv...
Moody's Ratings (Moody's) has revised Stanford Health Care's (SHC) (CA) outlook to positive from stable and affirmed the Aa3 long term ratings and P-1 and VMIG 1 short term ratings. The organization has about $2.45 billion of debt outstanding. Revision of the outlook to positive reflects SHC's ...
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