Report
UOB
Arandi Ariantara ...
  • Chaiwat Arsirawichai
  • Ivy Xu Da
  • Jacquelyn Yow Hui Li
  • John Cheong Ming Chern
  • Johnny Yum Chung Man
  • Ken Lee
  • Kong Ho Meng
  • Leow Huey Chuen
  • Robin Yuen

Regional Morning Notes - Friday, December 6, 2019

GREATER CHINA
Update
China Yongda Auto Services Holdings (3669 HK/BUY/HK$5.61/Target: HK$8.50): Earnings momentum improving on all fronts.
Shenzhou International (2313 HK/BUY/HK$106.00/Target: HK$120.00): Multi-year visibility on capacity expansion; upgrade to BUY.

INDONESIA
Update
Pembangunan Perumahan (PTPP IJ/BUY/Rp1,460/Target: Rp2,100): 2020 net income expected to grow by 44% yoy.

MALAYSIA
Sector
Plantation: 3Q19 results wrap-up: Mixed earnings with big disappointment from SDPL on large impairment for Liberia. SOP surprised on upside from all business segments.
Results
Sapura Energy (SAPE MK/HOLD/RM0.26/Target: RM0.25): 3QFY20: Results continued to disappoint, as rig performance fell short of our conservative assumption. We assume higher losses on higher tender rig earnings risk.

SINGAPORE
Small/Mid Cap Highlights
Results Round-Up: 3Q19 results: More misses than beats.

THAILAND
Sector
Telecommunications: Getting ready for 5G spectrum auction; less competition than during 2018.
Underlyings
China Yongda Automobiles Ser

Pp Persero Tbk Pt

Sapura Energy Bhd

Shenzhou International Group Holdings (P Chip)

Shenzhou International Group Holdings is an investment holding company. Through its subsidiaries, Co. is principally engaged in the manufacturing of knitwear on an Original Equipment Manufacturer basis. Co. focuses on producing sport wear and casual wear with major international clients including UNIQLO, ADIDAS NIKE, and PUMA. In addition, Co. is involved in property leasing in Hong Kong; import and export of commodities in China and Hong Kong; property management in China; trading company in Macau, Japan and China; and retail in China.

Provider
UOB
UOB

Analysts
Arandi Ariantara

Chaiwat Arsirawichai

Ivy Xu Da

Jacquelyn Yow Hui Li

John Cheong Ming Chern

Johnny Yum Chung Man

Ken Lee

Kong Ho Meng

Leow Huey Chuen

Robin Yuen

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