reports
- Philip Wong
IHH Healthcare (IHH MK) - Highly Visible And Attainable Growth Appears...
Highly Visible And Attainable Growth Appears Priced In IHH’s ACE framework drives growth through three pillars: align, challenge and empower. It focuses on aligning operations with its mission, challenging the organisation to innovate and improve efficiencies, and empowering localised growth in each key market. Earnings growth appears decent but valuations do not appear attractive to other non-cyclical stocks. Maintain HOLD. Target price: RM6.95.
- Benyamin Mikael
- Damon Shen
- Desmond Chong Chee Wai
- Jieqi Liu
- John Cheong Ming Chern
- Kitpon Praipaisarnkit
- Philip Wong
- Roy Chen Chengzhi
- Tham Mun Hon
Regional Morning Notes - Tuesday, October 15, 2024
GREATER CHINA Economics Money Supply: Generally below market expectations. Trade: Trade surplus narrows on weaker exports growth. Strategy China Construction And Property: Key beneficiaries of improved local government finances and an enhanced destocking policy. Sector Logistics: The logistics sector may stand to benefit should China successfully bolster its domestic consumption through fiscal stimulus. Upgrade to OVERWEIGHT with JDL as our top pick. Initiate Coverage JD Logistics Inc (2618 HK/B...
- Philip Wong
IHH Healthcare (IHH MK) - SPA For Island Hospital
SPA For Island Hospital Acquisition of Island Hospital. IHH Healthcare (IHH) announced that it has entered into a share purchase agreement (SPA) with Comprehensive Care to acquire a 100% equity interest in Island Hospital for a total consideration of RM3,923.7m.
- Philip Wong
IHH Healthcare (IHH MK) - 2Q24: Growth Across All Markets
2Q24: Growth Across All Markets Above our but disappointed consensus expectations. IHH Healthcare (IHH) posted a 2Q24 core profit of RM437m (8.5% qoq, 38.7% yoy), bringing 1H24 core profit to RM840m (+27.1%). This is above our but below consensus expectations, accounting for 58% and 46% of forecasts respectively. One-offs amounted to RM551m, largely attributed to deferred tax credits (RM379m) and net monetary gain from hyperinflationary economies (Acibadem) (RM273m). The positive deviation is at...
- Philip Wong
Healthcare - Defensive Position Is Unappealing For Now
Defensive Position Is Unappealing For Now Maintain MARKET WEIGHT on the healthcare sector. Despite tepid inpatient volume growth, hospitals' positive operating leverage is expected to boost earnings by 12.4% and 10.9% in 2024-25 respectively, though current valuations are lofty at 32.5x PE. Alpha IVF, with its impressive regional expansion, and Duopharma, poised for recovery after a challenging 2023, present more alluring prospects. However, amid a risk-on environment, we TACTICALLY UNDERWEIGHT ...
- Adrian Loh Tzum Yung
- Arsit Pamaranont
- Bella Lu Yifei
- Jonathan Koh
- Kate Luang
- Ken Lee
- Paula Ruth
- Philip Wong
- Singapore Research Team
Regional Morning Meeting Notes: Thursday, July 04, 2024
GREATER CHINA Strategy Small-Mid Cap Monthly Reiterate BUY on Plover Bay Technologies. Sector Automobile Weekly: Sales of top 12 EV brands up 38% wow last week, in line. Maintain MARKET WEIGHT. Top BUYs: Geely, CATL and Tuopu. Top SELL: XPeng. INDONESIA Update Sarana Menara Nusantara (TOWR IJ/BUY/Rp745/Target: Rp890) Number of towers to jump 10% on a...
300014 EVE ENERGY CO. LTD. CLASS A
G13 GENTING SINGAPORE
GRU GEELY AUTOMOBILE HOLDINGS LIMITED
5225 IHH HEALTHCARE BHD.
S63 SINGAPORE TECHNOLOGIES ENGINEERING LTD
544 CSE GLOBAL LTD.
D05 DBS GROUP HOLDINGS LTD
U11 UNITED OVERSEAS BANK LTD. (SINGAPORE)
V03 VENTURE CORPORATION LIMITED
U96 SEMBCORP INDUSTRIES LTD.
B8O YANGZIJIANG SHIPBUILDING (HOLDINGS) LTD.
TOWR PT SARANA MENARA NUSANTARA TBK
ALPHA ALPHA BANK AE
BH BUMRUNGRAD HOSPITAL PUBLIC CO. LTD.
Z74 SINGAPORE TELECOMMUNICATIONS LIMITED
O39 OVERSEA-CHINESE BANKING CORPORATION LIMITED
M3I MINTH GROUP LIMITED
BN4 KEPPEL CORPORATION LIMITED
002340 GEM CO. LTD. CLASS A
5Z0 ZHONGSHENG GROUP HOLDINGS LTD.
BCH BANGKOK CHAIN HOSPITAL PCL
01316 NEXTEER AUTOMOTIVE GROUP LIMITED
SPRC STAR PETROLEUM REFINING
VALUE VALUE8 N.V.
002709 GUANGZHOU TINCI MATERIALS TECHNOLOGY CO LTD CLASS A
601689 NINGBO TUOPU GROUP CO. LTD. CLASS A
01585 YADEA GROUP HOLDINGS LTD.
2333 GREAT WALL MOTOR CO. LTD. CLASS H
1211 BYD COMPANY LIMITED CLASS H
2338 WEICHAI POWER CO. LTD. CLASS H
02238 GUANGZHOU AUTOMOBILE GROUP CO. LTD. CLASS H
327 PAX GLOBAL TECHNOLOGY
FEHT FAR EAST HOSPITALITY TRUST
KPJ KPJ HEALTHCARE BERHAD
MINT MAPLETREE INDUSTRIAL TRUST
RFMD RAFFLES MEDICAL GROUP LTD
TXG 10X GENOMICS INC CLASS A
DBB DUOPHARMA BIOTECH BHD
TGIF 1933 INDUSTRIES
1772 PAX GLOBAL TECHNOLOGY LTD
FRKN GANFENG LITHIUM CO. LTD. CLASS H
300750 FRENCKEN GROUP LTD
3606 CONTEMPORARY AMPEREX TECHNOLOGY CO. LTD. CLASS A
603305 FUYAO GLASS INDUSTRY GROUP CO LTD-H
MPM NINGBO XUSHENG AUTO TECHNOLOGY (A)
002920 MARCO POLO MARINE LTD
CLI HUIZHOU DESAY SV AUTOMOTIVE CO LTD
2232 CAPITALAND INVESTMENT LTD
Z29 CRYSTAL INTERNATIONAL GROUP LTD
02015 029 GROUP SE
09868 LI AUTO INC
600699 XPENG INC
1523 NINGBO JOYSON ELECTRONIC CORP
PLOVER BAY TECHNOLOGIES LTD (1523 HK)
IHH Healthcare Bhd: 1 director
A director at IHH Healthcare Bhd bought 4,485,900 shares at 6.252MYR and the significance rating of the trade was 67/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years ...
- Philip Wong
IHH Healthcare (IHH MK) - 1Q24: Growth Across All Markets
1Q24: Growth Across All Markets Largely within expectations. IHH Healthcare (IHH) posted a 1Q24 core profit of RM402.8m (51.7% qoq, 16.4% yoy). One-offs amounted to RM365m, largely attributed to deferred tax credits (RM293m) and net monetary gain from hyperinflationary economies (Acibadem) (RM146m). Core profit is within our and consensus expectations, with earnings accounting for 27% and 24% of full-year earnings respectively.
- Philip Wong
IHH Healthcare (IHH MK) - 4Q23: Quiet End To The Year
4Q23: Quiet End To The Year Within our expectations. IHH Healthcare (IHH) posted a 4Q23 core profit of RM266m (-24.8% qoq, -22.0% yoy). This brought 2023 core profit to RM1,279m (-7.4% yoy). One-offs amounted to RM1,673m, largely attributed to gain on disposal of subsidiaries (RM992m), RM704m of net monetary gain from hyperinflationary economies (Acibadem) and deferred tax credits (RM256m). Core profit is within our but below consensus expectations, with earnings accounting for 99% and 77% of fu...
- Philip Wong
IHH Healthcare (IHH MK) - Framework Outlines Future Growth
Framework Outlines Future Growth IHH unravels its ACE framework to deliver medium-term growth. The primary pillar of growth will be organic growth through 33% bed additions over the next five years. Expansion across the healthcare continuum in mature markets and development of other emerging core segments will supplement growth as IHH seeks out inorganic opportunities and turns around underperforming assets. IHH’s prospects appear priced-in at this juncture. Maintain HOLD and target price of RM6...
- Heidi Mo Jinghui
- Jo Yee Ng
- John Cheong Ming Chern
- Julia Pan Mengyao
- Keith Wee Teck Keong
- Kong Ho Meng
- Ming San Soong
- Philip Wong
- Posmarito Pakpahan
- Shirley Wang Xueyi
- Stella Guo Yuting
- Tanaporn Visaruthaphong
Regional Morning Notes - Thursday, December 14, 2023
GREATER CHINA Update Anta Sports (2020 HK/BUY/HK$71.90/Target: HK$128.00): Confident about achieving full-year sales targets; positive tone for 2024. iFlytek (002230 CH/BUY/Rmb49.66/Target: Rmb62.00): Launch of iFlytek Spark V3.0 model and personalised AI assistants. INDONESIA Update AKR Corporindo (AKRA IJ/BUY/Rp1,400/Target: Rp1,920): Upbeat guidance for 2024. MALAYSIA Sector Banking: The sector delivered a 3Q23 earnings growth of 14% yoy, but this was largely driven by lower tax expenses. M...
- Philip Wong
IHH Healthcare (IHH MK) - 3Q23: All Segments Largely Delivered
3Q23: All Segments Largely Delivered IHH’s 3Q23 earnings came in within our expectations. Both Singapore and Malaysia saw improved revenue intensity, while the former experienced flattish volume growth. Meanwhile, Acibadem continues to command resilient patient volume despite its steep pricing adjustment, but contributions have been curtailed by inflation. India sustained its positive momentum as GHK remained EBITDA positive despite a slight dip in bed occupancy rate. Maintain HOLD and target pr...
IHH HEALTHCARE sees a downgrade to Neutral on account of less fundamen...
The independent financial analyst theScreener just lowered the general evaluation of IHH HEALTHCARE (MY), active in the Health Care Providers industry. As regards its fundamental valuation, the title now shows 1 out of 4 stars while market behaviour can be considered defensive. theScreener believes that the title remains under pressure due to the loss of a star(s) and downgrades its general evaluation to Neutral. As of the analysis date December 24, 2021, the closing price was MYR 6.57 and its t...
Ford Equity International Rating and Forecast Report
Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind...
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