A director at Dynasty Ceramic Plc bought 7,683,200 shares at 1.430THB and the significance rating of the trade was 53/100. 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...
GREATER CHINA Update Haidilao International (6862 HK/HOLD/HK$22.05/Target: HK24.10): Poised for incremental improvement. INDONESIA Small/Mid Cap Highlights Impack Pratama Industri (IMPC IJ/NOT RATED/Rp2,250): High-growth building material manufacturer. MALAYSIA Sector Property: Positivity on strong sales and earnings momentum largely priced in amid lack of catalyst and potential headwinds towards 2022. Results KLCCP Stapled Group (KLCCSS MK/BUY/RM6.75/Target: RM7.60): 3Q21: Results largely wit...
Although 3Q21 results were temporarily impacted by the COVID-19 pandemic, strong performances in the other quarters and 2022 would enable DCC to continue to grow its earnings. Margin improvements are the key to DCC’s success. In addition, DCC offers an attractive annual yield of 7%. Maintain BUY. Target price: Bt3.50.
KEY HIGHLIGHTS Results Central Pattana (CPN TB/BUY/Bt58.00/Target: Bt68.00) 3Q21: Weak results, but recovery underway. Dynasty Ceramic (DCC TB/BUY/Bt2.92/Target: Bt3.50) 3Q21: Weak results. However, strong performances in the other quarters and 2022 would enable DCC to deliver good earnings growth.
GREATER CHINA Economics Inflation: Market-supportive data. Results Zhongsheng Group Holdings (881 HK/BUY/HK$68.10/Target: HK$100.00): 1H21: Net profit up 62% yoy and 17% hoh, in line. Raise 2021-23 EPS by 11-16% and lift target price to HK$100.00 on stronger demand-supply dynamics for luxury cars. Update Shandong Gold Mining (1787 HK/HOLD/HK$13.34/Target: HK$13.50): Acquisition of Rmb7.1b gold assets from parent company. INDONESIA Results Bank Rakyat Indonesia (BBRI IJ/HOLD/Rp3,850/Target: Rp4,...
KEY HIGHLIGHTS Results Banpu (BANPU TB/HOLD/Bt13.90/Target: Bt14.30) 2Q21: Results below expectation on unexpected huge hedging loss. Dynasty Ceramic (DCC TB/BUY/Bt3.08/Target: Bt3.50) 2Q21: Earnings increased slightly. PTT Global Chemical (PTTGC TB/BUY/Bt57.25/Target: Bt76.00) 2Q21: Results beat our and consensus’ estimates on one-time gains. Maintain BUY. Quality Houses (QH TB/BUY/Bt2.20/Target: Bt2.60) 2Q21: Results in line; expect earnings improvement in 2H21.
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 Results Contemporary Amperex Technology (300750 CH/BUY/Rmb379.99/Target: Rmb520.00): 1Q21: Net profit grew 112% yoy and dropped 12% qoq, beating our estimate. Maintain BUY. Target price: Rmb520.00. Ganfeng Lithium - H (1772 HK/BUY/HK$103.08/Target: HK$140.00): 1Q21: Results in line; riding on lithium compound price rally in 2021. Guangzhou Automobile Group (2238 HK/BUY/HK$6.70/Target: HK$8.50): 1Q21: Net profit up 19x yoy and 145% qoq; in line with estimates. Maintain BUY. Target p...
KEY HIGHLIGHTS Results Bumrungrad Hospital (BH TB/HOLD/Bt138.50/Target: Bt135.00) 1Q21: Poor results; good news of strong recovery next year has been priced in. Upgrade to HOLD. Dynasty Ceramic (DCC TB/BUY/Bt3.04/Target: Bt3.50) 1Q21: Impressive results; earnings growth is expected to continue. Update Bangkok Bank (BBL TB/BUY/Bt122.50/Target: Bt149.00) Recovery intact despite economic challenges. Siam Cement (SCC TB/BUY/Bt464.00/Target: Bt545.00) Riding the uptrend in the chemical business.
GREATER CHINA Economics Inflation: Core CPI inflation turns negative; risks of margin deterioration remain. INDONESIA Update Sido Muncul (SIDO IJ/HOLD/Rp770/Target: Rp850): 27.3% yoy EPS growth in 2021. Upgrade to BUY. MALAYSIA Sector Plantation: Malaysia palm oil inventory came in slightly above market expectation, but still remains tight. Results British American Tobacco (ROTH MK/HOLD/RM13.16/Target: RM14.10): 4Q20: Above expectations on the back of better product mix and leaner opex. Valuat...
KEY HIGHLIGHTS Results Dynasty Ceramic (DCC TB/BUY/Bt2.40/Target: Bt3.00) 4Q20: Strong earnings growth from improving margins. IRPC (IRPC TB/BUY/Bt3.72/Target: Bt4.60) 4Q20: Back to the black. Upgrade to BUY. Update Chularat Hospital (CHG TB/BUY/Bt2.60/Target: Bt3.10) 4Q20 results preview: To outperform peers with sustained growth outlook; maintain BUY.
GREATER CHINA Sector Consumer: Bi-weekly (16 Jan - 3 Feb) update. Results Ping An Healthcare and Technology Company (1833 HK/BUY/HK$111.40/Target: HK$140.00): 2020 revenue up 35.5% yoy; online medical services lead the growth. INDONESIA Update Ciputra Development (CTRA IJ/BUY/Rp950/Target: Rp1,200): Expect EPS to grow by 12.8% yoy in 2021, driven by affordable housing. MALAYSIA Update My EG Services (MYEG MK/BUY/RM1.85/Target: RM2.65): Expect MYEG to deliver another record earnings quarter, ba...
KEY HIGHLIGHTS Initiate Coverage Kerry Express (Thailand) (KEX TB/BUY/Bt54.75/Target: Bt67.50) Thailand’s leading express delivery service that taps into new economy. Update Bank of Ayudhya (BAY TB/HOLD/Bt31.50/Target: Bt34.00 Cautiously optimistic for growth in 2021. Dynasty Ceramic (DCC TB/BUY/Bt2.38/Target: Bt3.00) 2021 earnings to continue to grow by 8% yoy, despite downward revision in sales and earnings forecasts.
KEY HIGHLIGHTS Results Dynasty Ceramic (DCC TB/BUY/Bt2.38/Target: Bt3.10) 3Q20: Impressive results. Good results expected to continue into 4Q20 and into 2021. Thaicom (THCOM TB/HOLD/Bt5.60/Target: Bt5.50) 3Q20: Results within our and market expectations; waiting for new catalysts. Thai Union Group (TU TB/BUY/Bt14.90/Target: Bt19.25) 3Q20: Posts strong earnings. Update Central Plaza Hotel (CENTEL TB/BUY/Bt20.50/Target: Bt29.75) 3Q20 results preview: Expect qoq recovery and lower losses....
GREATER CHINA Results China Feihe (6186 HK/BUY/HK$16.26/Target: HK$20.00): 1H20: Infant milk formula juggernaut displays perfect execution amid COVID-19. Hong Kong Exchanges and Clearing (388 HK/HOLD/HK$373.60/Target: HK$365.00): 1H20: Stable revenue growth driven by higher ADT; downgrade to HOLD. Powerlong Real Estate Holdings (1238 HK/BUY/HK$5.98/Target: HK$6.61): 1H20: Strong results; Rmb75b contracted sales target for 2020. SINGAPORE Strategy 1H20 Results Wrap: 1H20 results were worse than ...
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