Report
EUR 56.04 For Business Accounts Only

2016F outlook remains lackluster - 1101 TT; HOLD-OPF

​We remain conservative on TCC due to 1) a negative sector outlook; 2) downside risk from Hoping Power’s 2016F profitability; and 3) its unattractive valuation. We believe the cement sector is undergoing a transition with lackluster demand and less supply, which may affect TCC’s profitability in 2016F.

Underlying
Taiwan Cement Corp.

Taiwan Cement is engaged in the production and sale of cements, premixing concrete, lime, clay and cement products such as cement block, concrete pipe, asbestos board, asbestos tube and asbestos tiles; earth and stone excavation industry; operation of cement related industries, steel and iron smelting industries and nonmetallic mining industries; thermal power generation; power and natural gas supply; provision of railway, marine and mechanical transportation services; reprocessing, manufacture, and sales of building, and interior decoration materials.

Provider
Yuanta
Yuanta

​Yuanta is a Taiwan-headquartered brokerage with a growing presence in Asia, especially across Greater China. Our team of 140+ provides cutting-edge analysis on key sectors, spread across offices in Taiwan, Hong Kong, Shanghai (A-Share), Seoul and Jakarta. With an ever-expanding coverage universe of 400+ companies, we provide in depth analysis with unique local color to investors. Consistently being voted the Best Investment Consulting Firm in Taiwan in the AsiaMoney broker poll is evidence of our strength. We target providing an extensive range of research, from small, to mid-sized, to large cap. We bring you the big, well-covered names, as well as going off the beaten track to research the less-familiar companies.

Other Reports on these Companies
Other Reports from Yuanta

ResearchPool Subscriptions

Get the most out of your insights

Get in touch