A director at Mega Lifesciences Public Company Limited bought 280,000 shares at 35.625THB and the significance rating of the trade was 52/100. 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 ove...
GREATER CHINA Results Niu Technologies (NIU US/BUY/US$24.06/Target: US$37.00): 3Q21: Profit up 15% yoy, missing estimates on stronger sales of entry models. Cut target price to US$37.00. Maintain BUY. Tongcheng-eLong (780 HK/BUY/HK$17.34/Target: HK$22.00): 3Q21: An uneven path to recovery. Maintain BUY. Update Ganfeng Lithium Co (1772 HK/BUY/HK$146.10/Target: HK$200.00): Lithium compound prices to rise on demand spike and tight supply. INDONESIA Update Pembangunan Perumahan (PTPP IJ/BUY/Rp1,290...
Fear of contracting COVID-19 is expected to result in an exceptional earnings growth for MEGA this year. As the pandemic situation is expected to improve, we expect MEGA’s earnings to return to normal. However, 2022 earnings are expected to temporarily fall on high base in 2021. We believe that the good news has been priced in for now. Downgrade to HOLD. Target price: Bt54.50.
KEY HIGHLIGHTS Sector Telecommunications TRUE and DTAC entering into amalgamation deal; positive for all mobile operators. Update Mega Lifesciences (MEGA TB/HOLD/Bt55.50/Target: Bt54.50) After expectations of strong earnings growth, MEGA’s earnings may be lower next year on the high base in 2021.
MEGA’s good results have reiterated our belief that MEGA would benefit greatly from the new trend of keeping oneself healthy amid the pandemic. This would likely result in the high demand for nutraceutical products which are MEGA’s high-margin products, enabling MEGA’s earnings to grow strongly in the next few years. Maintain BUY. Target price: Bt59.00.
KEY HIGHLIGHTS Results Bangkok Chain Hospital (BCH TB/HOLD/Bt20.40/Target: Bt20.00) 3Q21: Impressive results due to COVID-19 patients. BTS Group Holdings (BTS TB/BUY/Bt9.75/Target: Bt10.80) Page 5 2QFY22: Weak performance due to the pandemic; improvement expected. CH Karnchang PCL (CK TB/BUY/Bt21.90/Target: Bt25.00) Page 8 3Q21: Weak results but performance to improve next year. Mega Lifesciences (MEGA TB/BUY/Bt47.50/Target: Bt59.00) Page 11 3Q21: Good results on high dem...
GREATER CHINA Sector Cement: Weekly: Prices rebound as expected, while margins remain under pressure on high coal costs. IT Hardware: Handset Components: Smartphone outlook unexciting, focus on auto business. Downgrade to MARKET WEIGHT. INDONESIA Strategy Switch Into Laggards Post Softness In Technology: Our picks: JSMR, MAPI, UNVR, MYOR, BMRI and TLKM. Top sell: MDKA. MALAYSIA Sector Property: Sales momentum remained healthy in 2Q21 despite lower-than-expected earnings. 4Q21 could see a stron...
We believe MEGA has entered a new phase of growth due to the trend of people seeking nutraceutical products to enhance their immunity and protect against the COVID-19 virus. This would enable MEGA to see good earnings growth for the next few years. Meanwhile, its long-term growth will be further supported by current investments. Maintain BUY. Target price has been raised to Bt59.00 on 2022’s valuation.
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
GREATER CHINA Economics Money Supply: May data is market neutral. Sector Automobile: Weekly: Channel checks attribute the sales slowdown to supply bottleneck. Maintain MARKET WEIGHT. Top picks: Zhongsheng, Yongda, BYD and CATL. INDONESIA Update Erajaya Swasembada (ERAA IJ/BUY/Rp645/Target: Rp780): Expect higher earnings growth of 59.2% yoy in 2021. MALAYSIA Sector Construction: 1Q21: Earnings were generally below expectations; impact of MCO 3.0 varies across the sector and could be worse than ...
GREATER CHINA Strategy Beware The Ides Of March?: The reflation narrative has gained momentum with the higher bond yield capping PE expansion. Focus on names with robust earnings growth instead of cyclicals. Sector Baijiu: Key takeaways from conference call with baijiu expert. Results Nine Dragons Paper (2689 HK/BUY/HK$13.74/Target: HK$16.50): 1HFY21: In line; paper price hikes to continue in 2021. Upgrade to BUY. INDONESIA Update Wijaya Karya (WIKA IJ/BUY/Rp1,825/Target: Rp2,600): Targeting Rp...
KEY HIGHLIGHTS Results AP Thailand (AP TB/BUY/Bt7.30/Target: Bt8.70) 4Q20: Another earnings beat. Berli Jucker (BJC TB/BUY/Bt33.00/Target: Bt39.00) 4Q20: Results in line with our expectations. Electricity Generating PCL (EGCO TB/BUY/Bt172.50/Target: Bt242.00) 4Q20: Reiterate BUY despite 4Q20 miss. GFPT (GFPT TB/SELL/Bt12.50/Target: Bt9.60) 4Q20: Earnings were high. 2021 earnings will drop yoy. Supalai (SPALI TB/BUY/Bt19.80/Target: Bt24.50) 4Q20: Net profit grows 1% yoy and 53% qoq Vinyth...
GREATER CHINA Update Sunny Optical (2382 HK/BUY/HK$236.80/Target: HK$275.00): Positive trend on shipment and specs; more upside risks to assumptions. INDONESIA Sector Automobile: Luxury tax reduction should boost car sales volume. Upgrade ASII to BUY. MALAYSIA Results Kossan Rubber (KRI MK/BUY/RM3.94/Target: RM5.00): 4Q20: Below expectations against contracting volume growth. But earnings are raised against better ASP outlook. Maintain BUY with a lower target price of RM5.00. Update Public Ban...
KEY HIGHLIGHTS Results Ratchaburi Group (RATCH TB/BUY/Bt51.50/Target: Bt76.00) 4Q20: Results largely beat expectations. Update Mega Lifesciences (MEGA TB/BUY/Bt39.25/Target: Bt45.00) One of the few companies to benefit from the COVID-19 pandemic. Despite no upside from hemp legalisation, there is limited impact from the coup in Myanmar.
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