Waritthorn Kaewmuang
  • Waritthorn Kaewmuang

Bumrungrad Hospital (BH TB) - Solid Upturn Of Medical Tourism Amid Fav...

BH’s outlook remains bright from the continuous recovery in the number of international patients supported by high oil prices that should enhance the purchasing power of Middle Eastern patients. There are growth opportunities from a new dominant market and further technological development which are likely to send BH’s performance above pre-COVID-19 levels in 2023. Maintain BUY. Target price: Bt205.00.

Thailand Research Team
  • Thailand Research Team

Alpha Picks: Jul 22 Portfolio

We are starting 2H22 with a more defensive strategy by using a bottom-up approach to focus purely on defensive and quality names which benefit from the country’s reopening. Against this backdrop, quality names that have domestic tourism and consumption as their main revenue streams should benefit the most. For Jul 22, we cut losses on MTC, while adding BBL and TISCO to our list. Maintain BUY on AMATA, CPALL, CPF, CPN, MINT, OR and VGI.

Thailand Research Team ... (+2)
  • Thailand Research Team
  • Waritthorn Kaewmuang

Thailand Daily - Friday, July 01, 2022

KEY HIGHLIGHTS Strategy Alpha Picks: Jul 22 Portfolio Stay defensive in quality names. Shariah Gems Conference Takeaways Bumrungrad Hospital (BH TB/BUY/Bt179.00/Target: Bt205.00) Solid upturn of medical tourism amid favourable growth potential.

John Cheong Ming Chern ... (+2)
  • John Cheong Ming Chern
  • Jonathan Koh

Singapore Daily - Friday, July 1, 2022

KEY HIGHLIGHTS Sector REITs: Strength of balance sheet being stressed and tested. Shariah Gems Conference Takeaways Venture Corporation (VMS SP/BUY/S$16.63/Target: S$22.80): Remaining on track for growth. TRADERS’ CORNER Japfa (JAP SP): Trading BUY SIA Engineering Co (SIE SP): Trading BUY

John Cheong Ming Chern
  • John Cheong Ming Chern

Venture Corporation (VMS SP) - Remains On Track For Growth

VMS continues to see healthy near-term demand from majority of its customers and has an experienced task force to manage the recurring component shortages. Also, its strong R&D capabilities have enabled it to redesign products to reduce dependency on parts that are in shortage. Despite the higher inflationary environment, VMS strives to maintain its net margin in the historical range of 9-10%. Maintain BUY and target price of S$22.80 (pegged to +1SD, 19.5x 2022F PE).

Greater China Research Team
  • Greater China Research Team

Strategy - Alpha Picks: Greater China October Conviction List

As we continue to expect market volatility, we maintain exposure to names that have resilient earnings or are expected to enjoy an earnings growth recovery, such as Ausnutria Dairy (1717 HK), CSPC (1093 HK) and Dongfeng Motor (489 HK), and add PICC P&C (2328 HK) to our BUY list.

Gary Kong Tsz Yeung ... (+2)
  • Gary Kong Tsz Yeung
  • Tham Mun Hon

China Strategy - The End Of Cycles?

The stronger-than-expected 1Q19 economic data and central bank backstop have fuelled optimism that cycles are a thing of the past. With animal spirits rekindled, our more cautious view since end-February has not played out well. Although we have not seen an improvement in risk-reward so far and further meaningful monetary easing will be needed to see a sustainable recovery, we are adjusting our strategy to include laggards and policy-supported sectors in our BUY list.

Gary Kong Tsz Yeung ... (+2)
  • Gary Kong Tsz Yeung
  • Tham Mun Hon

China Strategy: The end of cycles?

The stronger-than-expected 1Q19 economic data and central bank backstop has fuelled optimism that cycles are a thing of the past. With animal spirits rekindled, our more cautious view since end-February has not played out well. Although we have not seen an improvement in risk-reward so far and further meaningful monetary easing will be needed to see a sustainable recovery, we are adjusting our strategy to include laggards and policy-supported sectors into our BUY list.

ResearchPool Subscriptions

Get the most out of your insights

Get in touch