reports
- Malaysia Research Team
Malaysia Daily - Thursday, May 16, 2024
KEY HIG HLIGH TS Sector Update Automobile – Malaysia Page 2 4QFY24/9MFY24 results preview: Anticipate a record high for Bermaz Auto and earnings accretion from UMW Holdings for Sime Darby Bhd. Company Results Hume Cement Industries (HUME MK/BUY/RM3.22/Target: RM3.67) Page 4 9MFY24: Results within expectations. Rollout of key mega infrastructure projects may further lift cement prices. Upgrade to BUY. UOBKH Highlights Malaysia Airports Holdings (MAHB MK/HOLD/RM10.40/Target: RM9.86) Page 7 Privati...
Moody's Ratings assigns definitive ratings to La Trobe Financial's Sec...
Moody's Ratings (Moody's) has assigned the following definitive ratings to the notes issued by Perpetual Corporate Trust Limited as trustee of La Trobe Financial Capital Markets Trust 2024-2. IMPORTANT NOTICE: MOODY'S RATINGS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS. SUCH USE ...
- Benjaphol Suthwanish
The Erawan Group (ERW TB) - Strong Core Earnings In 1Q24; In Line With...
ERW reported net profit of Bt417m and core earnings of Bt285m (+21% yoy, +33% qoq) in 1Q24, which is in line with our forecast but above consensus’. The results were attributed to the ability to raise the average room rate (+10% yoy, +6% qoq) due to a rise in demand from the high number of international arrivals in 1Q24. We expect Chinese tourists to remain as a key earnings driver in 2024. Maintain BUY. Target price: Bt6.50.
- Kitpon Praipaisarnkit
KCE Electronics (KCE TB) - Enhanced Revenue Prospects For The Rest Of ...
Moving into 2Q24, we project a qoq revenue increase driven by heightened demand for PCB and HDI products. Also, we foresee an improvement in gross margin due to cost savings. For 3Q-4Q24, we remain cautious on gross margin given the fluctuations in copper prices. We maintain our conservative assumption for 2024 gross margin, but we still expect earnings for the rest of the year to grow. Upgrade KCE from HOLD to BUY. Target price: Bt49.00.
- Tanaporn Visaruthaphong
Srisawad Corporation (SAWAD TB) - 1Q24: Results In Line; Credit Cost I...
SAWAD reported 1Q24 earnings of Bt1,261m (+5% yoy, flat qoq). The results were in line with our forecast but lower than consensus expectation by 7%. The improvement in credit cost indicates better asset quality. However, we will monitor the upward NPL trend, which is aligned with management’s guidance, and may affect the overall asset quality outlook. Maintain HOLD with a higher target price of Bt43.00.
- Kasemsun Koonnara
CH Karnchang (CK TB) - 1Q24: Better-than-expected Results
CK posted a net profit of Bt121m in 1Q24 (-44% yoy, -23% qoq), which was better than our and consensus forecasts. CK’s core operations saw an improvement from the previous year and quarter, but 1Q24 results were pressured by a lower share of profit from associates. We expect earnings to improve qoq in 2Q24, underpinned by its backlog and progress as planned. Maintain BUY. Target price: Bt26.50.
- Rob Carnell
- Benjaphol Suthwanish
- Kasemsun Koonnara
- Kitpon Praipaisarnkit
- Tanaporn Visaruthaphong
Thailand Daily - Thursday, May 16, 2024
KEY HIGHLIGHTS Results CH Karnchang (CK TB/BUY/Bt21.60/Target: Bt26.50) 1Q24: Better-than-expected results. Srisawad Corp (SAWAD TB/HOLD/Bt39.00/Target: Bt43.00) 1Q24: Results in line; credit cost improves qoq and NPL continues to increase. Update KCE Electronics (KCE TB/BUY/Bt40.50/Target: Bt49.00) Enhanced revenue prospects for the rest of the year; upgrade to BUY. The Erawan Group (ERW TB/BUY/Bt4.82/Target: Bt6.50) Strong core earnings in 1Q24; i...
- 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
- Greater China Research Team
- Jo Yee Ng
- Julia Pan Mengyao
- Ming San Soong
- Shirley Wang Xueyi
- Stella Guo Yuting
Greater China Daily: Thursday, May 16, 2024
KEY HIGHLIGHTS Results Alibaba Group (9988 HK/BUY/HK$82.65/Target: HK$98.00) Alibaba delivered in-line 4QFY24 results. Revenue grew 7% yoy to Rmb221.9b, in line with street estimates. Non-GAAP net profit was Rmb24.4b, down 11% yoy and is 7% below street estimates, with net margin of 11%. In FY24, Alibaba has approved the two-part dividend of US1.66 per ADS, representing an aggregate of US$4b and 18% dividend payout ratio. We remain optimistic on the double-digit revenue growth target for the ...
Northland Power Reports First Quarter 2024 Results
Northland Power Reports First Quarter 2024 Results Baltic Power, Hai Long and Oneida projects continue to make construction progress TORONTO, May 15, 2024 (GLOBE NEWSWIRE) -- Northland Power Inc. (“Northland” or the “Company”) (TSX: NPI) reported today financial results for the three months ended March 31, 2024. All dollar amounts set out herein are in thousands of Canadian dollars, unless otherwise stated. “We are off to a strong start in 2024 with first quarter results better than expected, thanks to strong winds experienced at our offshore wind facilities,” said Mike Crawley, North...
Prairie Provident Reports on AGM Voting Results
Prairie Provident Reports on AGM Voting Results CALGARY, Alberta, May 15, 2024 (GLOBE NEWSWIRE) -- Prairie Provident Resources Inc. ("Prairie Provident" or the "Company") (TSX:PPR) announces voting results from its annual shareholders' meeting held today. At the meeting, each of Patrick McDonald, Glenn Hamilton, Dale Miller, Ryan Rawlyk, Matthew Shyba and Kathy Turgeon was elected, by ordinary resolution, as a director of the Company for the ensuing year, to hold office until the close of the next annual meeting of shareholders. Following are details as to the number of vote...
Rubicon Organics Reports Q1 2024 Financial Results
Rubicon Organics Reports Q1 2024 Financial Results Achieved net revenue of $8.9 million for the three months ended March 31, 2024Adjusted EBITDA1 loss of $0.4 million for the three months ended March 31, 2024Negative operating cash flow of $0.9 million for the three months ended March 31, 2024Number one premium licenced producer across all categories22.0%3 national market share of flower and pre-rolls for the three months ended March 31, 20247.1%4 national market share of premium flower and pre-rolls for the three months ended March 31, 2024WildflowerTM is the number one topical brand in Ca...
Moody's Ratings downgrades Affinity Interactive's CFR to B3; outlook s...
Moody's Ratings (Moody's) today downgraded the Corporate Family Rating ("CFR") of Affinity Interactive ("Affinity) to B3 from B2 and Probability of Default Rating to B3-PD from B2-PD. Moody's also downgraded the company's backed senior secured first lien notes to B3 from B2. The outlook remains stab...
- Chong Lee Len
- Heidi Mo Jinghui
- Jacquelyn Yow Hui Li
- John Cheong Ming Chern
- Leow Huey Chuen
- Llelleythan Tan Tan
Singapore Daily: Thursday, May 16, 2024
KEY HIGHLIGHTS Results First Resources (FR SP/BUY /S$1.42/Target: S$1.65) 1Q24: Results within expectations. Frencken Group (FRKN SP/BUY/S$1.40/Target: S$1.74) 1Q24: Results within expectations; outlook remains optimistic. Maintain BUY. StarHub (STH SP/BUY/S$1.25/Target: S$1.41) 1Q24: Results in line; DARE+ benefits likely to come through by end-24. Update Riverstone Holdings (RSTON SP/BUY/S$0.93/S$1.12) Beneficiary of US tariff hike and gl...
- Valens Research
- Limartha Adhiputra
Property – Resilient Amid Uncertainties
We believe marketing sales achievement could improve from 2Q24 onwards as new product launches continue to take place. However, BSDE and SMRA could report softer earnings in 2Q24 after a boost in 1Q24 results, while CTRA could deliver a more consistent revenue growth in 2Q24. We also note that property companies are optimistic in achieving their 2024 presales targets as mortgage rates remain attractive despite the recent interest rate hike. Maintain OVERWEIGHT with CTRA as our top pick.
- Limartha Adhiputra
- Maskun Ramli
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.