reports
- Jack Goh Tooan Orng
Scientex (SCI MK) - Fundamental Refuge Amid Volatile Market Dynamics
Fundamental Refuge Amid Volatile Market Dynamics Despite global market uncertainties, Scientex will prevail as a defensive refuge for investors to weather through potential cyclical downturns. This is backed by the group’s unique dual-segment business model which complements its earnings stability during FY24-25, solid balance sheet foundation, and pristine execution track record. The group is on track to deliver 7-18% earnings growth in FY24-25. Maintain BUY and target price of RM4.58.
Scientex Berhad: 1 director
A director at Scientex Berhad bought 400,000 shares at 4.000MYR and the significance rating of the trade was 54/100. 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 clear...
- Jack Goh Tooan Orng
Scientex (SCI MK) - 2QFY24: Precise Executions Sustaining Above-Pandem...
2QFY24: Precise Executions Sustaining Above-Pandemic Earnings Delivery Scientex recorded its highest half-yearly earnings in 1HFY24, well above the prepandemic level. This mainly reflects margin expansion for its manufacturing segment on better cost efficiency and product mix, besides robust projects growth in the property segment. The group’s unique dual-segment business model has been proven to be effective and continues to entrench substantial earnings growth amid global economy volatility. M...
- Arsit Pamaranont
- Bella Lu Yifei
- Damon Shen
- Jack Goh Tooan Orng
- Jieqi Liu
- Jo Yee Ng
- Jonathan Koh
- Ken Lee
- Limartha Adhiputra
- Roy Chen Chengzhi
- Shirley Wang Xueyi
- Stella Guo Yuting
Regional Morning Notes - Wednesday, March 27, 2024
GREATER CHINA Results Anta (2020 HK/BUY/HK$83.55/Target: HK$109.60): 2023: Results beat on margin; on track to fulfil three-year targets. CR Land (1109 HK/BUY/HK$24.85/Target: HK$42.39): 2023: Results in line; clearer growth path ahead. CR Mixc (1209 HK/BUY/HK$23.60/Target: HK$33.20): 2023: Results beat with higher payout ratio; pursue high-quality growth. Nexteer Automotive Group (1316 HK/SELL/HK$3.24/Target: HK$2.20): 2023: Earnings miss estimate again on margin squeeze. Maintain SELL. Cut tar...
AS7 ANTA SPORTS PRODUCTS LTD.
01109 CHINA RESOURCES LAND LIMITED
INTP PT INDOCEMENT TUNGGAL PRAKARSA TBK
4731 SCIENTEX
000338 WEICHAI POWER CO. LTD. CLASS A
002352 S.F. HOLDING CO. LTD. CLASS A
01316 NEXTEER AUTOMOTIVE GROUP LIMITED
SPRC STAR PETROLEUM REFINING
0168 TSINGTAO BREWERY CO. LTD. CLASS H
FLT FRASERS LOGISTICS & COMMERCIAL TRUST
01209 CHINA RESOURCES MIXC LIFESTYLE SERVICES (RED CHIP)
- Jack Goh Tooan Orng
Scientex (SCI MK) - The Best Of Both Worlds
The Best Of Both Worlds Global economic prospects remain unclear amid an escalation of the recent Israel- Hamas geopolitical tensions, softening trade demand and inflation-induced weaker consumption. Nevertheless, we are confident Scientex's unique dual-segment business model provides a solid foundation for stable earnings visibility to withstand this cyclical downturn. The ytd share price increase of 12% also endorses the group’s resilient earnings momentum despite the challenging times. Mainta...
- Damon Shen
- Greater China Research Team
- Heidi Mo Jinghui
- Jack Goh Tooan Orng
- Jacquelyn Yow Hui Li
- Jieqi Liu
- Jo Yee Ng
- John Cheong Ming Chern
- Jonathan Koh
- Kasemsun Koonnara
- Kwanchai Atiphophai
- Limartha Adhiputra
- Malaysia Research Team
- Shirley Wang Xueyi
- Stella Guo Yuting
- Vincent Khoo Boo Aik
Regional Morning Notes - Tuesday, October 24, 2023
GREATER CHINA Results Hong Kong Exchanges and Clearing (388 HK/BUY/HK$285.20/Target: HK$370.00): 3Q23: Earnings beat on investment income; core revenue remains lacklustre. Kweichow Moutai (600519 CH/BUY/Rmb1,643.98/Target: Rmb2,470.00): 3Q23: Lower-than-expected revenue growth; highest earnings visibility. Update CR Land (1109 HK/BUY/HK$29.55/Target: HK$47.48): Takeaways from site visits in Chengdu and Chongqing: A closer look at CR Land’s core growth engine. CR Mixc Lifestyle Services (1209 HK/...
01109 CHINA RESOURCES LAND LIMITED
00388 HONG KONG EXCHANGES & CLEARING LTD.
600519 KWEICHOW MOUTAI CO. LTD. CLASS A
SPALI SUPALAI PCL
KBANK KASIKORNBANK PUBLIC CO. LTD.
SCB SIAM COMMERCIAL BANK PUBLIC COMPANY LIMITED
4731 SCIENTEX
SUN SUNTECH SA
1209 CHINA RESOURCES MIXC LIFESTYLE SERVICES
SE US SEA LIMITED
- Jack Goh Tooan Orng
Scientex (SCI MK) - 4QFY23: Ending The Year On A Commendable Note
4QFY23: Ending The Year On A Commendable Note With a marginal 3.6% yoy decline in revenue, Scientex’s 4QFY23 core net profit was 0.3% lower yoy at RM136.9m. This mainly reflects lower sales and margin compression for its manufacturing segment on elevated opex. Positively, the property segment recorded improved sales and higher progress billing in tandem with more launches. Management remains confident that both segments will perform better in FY24. Maintain BUY and target price of RM4.36.
- Adrian Loh Tzum Yung
- Greater China Research Team
- Jack Goh Tooan Orng
- Julia Pan Mengyao
- Kwanchai Atiphophai
- Malaysia Research Team
- Ming San Soong
- Stevanus Juanda
Regional Morning Notes - Thursday, September 21, 2023
GREATER CHINA Sector Insurance: 1H23 results wrap-up: Delivering impressive NBV growth as expected. Internet: Strong growth in online ads and OTA likely to continue; poised for improving growth fuelled by AIGC. INDONESIA Update Mayora Indah (MYOR IJ/BUY/Rp2,500/Target: Rp3,200): Sales recovery in 3Q23 likely with continuous margin expansion. MALAYSIA Results Scientex (SCI MK/BUY/RM3.68/Target: RM4.36): 4QFY23: Within expectations. Core net profit declined marginally yoy on weaker manufacturing...
- Malaysia Research Team
- Vincent Khoo Boo Aik
Strategy - 2Q23 Results Season Winners
2Q23 Results Season Winners The 2Q23 reporting season should deliver a noticeable host of earnings winners, in part due to a meaningful rebound from the unusually disappointing 1Q23 which prompted a 5% downgrade in our 2023 earnings forecast for FBMKLCI. We expect >25% of our coverage universe to deliver appreciably stronger earnings qoq in 2Q23. We foresee significant upside for the key 2Q23 earnings winners, particularly for the gaming stocks, Alliance Bank, MrDIY, MYEG, VS Industry and Yinson...
7777 3-D MATRIX
4731 SCIENTEX
3IN 3I INFRASTRUCTURE PLC
MISC MISC BHD
YNS YINSON HOLDINGS BHD
GENT GENTING BHD
VSI V.S. INDUSTRY BERHAD
BST BERJAYA SPORTS TOTO BHD
KPJ KPJ HEALTHCARE BERHAD
MYEG MY EG SERVICES BHD
ABMB ALLIANCE BANK MALAYSIA BHD
GENM GENTING MALAYSIA BHD
SCI SCI E&C
HUME HUME INDUSTRIES BHD
RGB RGB INTERNATIONAL BHD
MRDIY MR DIY GROUP M BHD
FFNT 4FRONT VENTURES CORP
- Jack Goh Tooan Orng
Scientex (SCI MK) - Poised For Cyclical Recovery
Poised For Cyclical Recovery With the global economic outlook stabilising and the rate hike cycle heading towards an inflection point, we anticipate Scientex to benefit from multiple tailwinds such as recovery of global trade flows, easing input costs and better property sales. Scientex’s manufacturing segment is poised for margin expansion on easing resin costs, while the property segment is expected to deliver better earnings on more project launches. Maintain BUY with a higher target price of...
- Carol Dou Xiao Qin
- Heidi Mo Jinghui
- Jack Goh Tooan Orng
- John Cheong Ming Chern
- Jonathan Koh
- Julia Pan Mengyao
- Kwanchai Atiphophai
- Ming San Soong
- Posmarito Pakpahan
- Sunny Chen
- Vincent Khoo Boo Aik
Regional Morning Notes - Monday, July 24, 2023
GREATER CHINA Update Aier Eye Hospital Group (300015 CH/BUY/Rmb19.87/Target: Rmb26.00): Expects resilient revenue and earnings growth in 1H23. Kuaishou (1024 HK/BUY/HK$57.00/Target: HK$93.00): 2Q23 preview: Strong live streaming e-commerce and ad momentum continue. INDONESIA Results Bank Tabungan Negara (BBTN IJ/BUY/Rp1,360/Target: Rp1,700): 2Q23: Net profit down 16% qoq, below expectations. MALAYSIA Sector Gaming: Time to refocus on gaming companies’ fundamental qualities as political landsca...
300015 AIER EYE HOSPITAL GROUP CO. LTD. CLASS A
KBANK KASIKORNBANK PUBLIC CO. LTD.
4731 SCIENTEX
KTB-R KRUNG THAI BANK PCL NVDR
SCB-R SIAM COMMERCIAL BANK PCL NVDR
1024 KUAISHOU TECHNOLOGY
AZTECH AZTECH GLOBAL LTD
BBTN BANK TABUNGAN NEGARA PERSERO TBK PT
MPACT MAPLETREE PAN ASIA COMMERCIAL TRUST
- Jack Goh Tooan Orng
Scientex (SCI MK) - 2QFY23: Commendable Recovery For Manufacturing And...
2QFY23: Commendable Recovery For Manufacturing And Property Segments With a commendable revenue growth (+2.8% yoy), Scientex’s 2QFY23 core net profit was marginally higher at RM100.8m (+0.4% yoy). This mainly reflects a margin recovery for its manufacturing segment as resin costs ease, as well as improved sales and better progress billing in the property segment. Moving forward, we expect resilient earnings growth in FY23 following the easing of costs on a higher revenue base. Maintain BUY and t...
- Chong Lee Len
- Heidi Mo Jinghui
- Jack Goh Tooan Orng
- Jacquelyn Yow Hui Li
- Jo Yee Ng
- John Cheong Ming Chern
- Johnny Yum Chung Man
- Kate Luang
- Kelvin Chau Siu Pong
- Ken Lee
- Sabrina Soh
- Stevanus Juanda
- Tanaporn Visaruthaphong
- Tham Mun Hon
- Zhifeng Shen
Regional Morning Notes - Thursday, March 16, 2023
GREATER CHINA Economics Economic Activity: Further policy support is needed to entrench the recovery. Initiate Coverage Haier Smart Home (6690 HK/BUY/HK$25.80/Target: Rmb31.20): Leading household appliance player among one-stop solution providers. Results Nexteer (1316 HK/BUY/HK$4.61/Target: HK$7.50): 2H22: Results met our estimates but missed consensus’. Maintain BUY. Target price: HK$7.50. Prudential (2378 HK/BUY/HK$108.80/Target: HK$141.90): 2022: Results below expectations, better recovery a...
SCIENTEX loses on its star level and is downgraded to Slightly Positiv...
The independent financial analyst theScreener just slightly lowered the general evaluation of SCIENTEX (MY), active in the Containers & Packaging industry. The title has lost a star(s) at the fundamental level and now shows 2 out of 4 stars. Its exposure to market risk remains nonetheless the same and can be still described as defensive. theScreener slightly downgrades the general evaluation to Slightly Positive for the title on account of the lost star(s). As of the analysis date January 11, 20...
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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