reports
- Bella Lu Yifei
- Benjaphol Suthwanish
- Benyamin Mikael
- Heidi Mo Jinghui
- John Cheong Ming Chern
- Ken Lee
- Kong Ho Meng
- Philip Wong
Regional Morning Meeting Notes: Friday, December 06, 2024
GREATER CHINA Sector Automobile Weekly: PV sales up 16% yoy last week, beating estimates. Maintain MARKET WEIGHT. Top BUYs: Geely, Fuyao and Desay. INDONESIA Update Vale Indonesia (INCO IJ/HOLD/Rp3,640/Target: Rp3,800) Unlocking its true potential. MALAYSIA Sector Consumer Sector is trading at -1SD to it...
GRU GEELY AUTOMOBILE HOLDINGS LIMITED
ERW ERAWAN GROUP
EGH EUREKA GROUP HOLDINGS
INCO VALE INDONESIA
M3I MINTH GROUP LIMITED
002340 GEM CO. LTD. CLASS A
5Z0 ZHONGSHENG GROUP HOLDINGS LTD.
01316 NEXTEER AUTOMOTIVE GROUP LIMITED
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
ROTH BRITISH AMERICAN TOBACCO BHD
FNH FRASER & NEAVE HOLDINGS BHD
HEIM HEINEKEN MALAYSIA BHD
DLG DIALOG GROUP BHD
CAB CARLSBERG BREWERY MALAYSIA B
MNHB MYNEWS HOLDINGS BHD
TXG 10X GENOMICS INC CLASS A
TGIF 1933 INDUSTRIES
NESZ NESTLE (MALAYSIA) BERHAD
QLG QL RESOURCES BHD
1772 GANFENG LITHIUM CO. LTD. CLASS H
300750 CONTEMPORARY AMPEREX TECHNOLOGY CO. LTD. CLASS A
3606 FUYAO GLASS INDUSTRY GROUP CO LTD-H
603305 NINGBO XUSHENG AUTO TECHNOLOGY (A)
MPM MARCO POLO MARINE LTD
MRDIY MR DIY GROUP M BHD
002920 HUIZHOU DESAY SV AUTOMOTIVE CO LTD
FFB FARM FRESH BHD
Z29 029 GROUP SE
02015 LI AUTO INC
600699 JOYSON ELECTRONICS CORP
99SMART 99 SPEED MART RETAIL HOLDINGS BHD
- Arsit Pamaranont
- Benjaphol Suthwanish
- Damon Shen
- Desmond Chong Chee Wai
- Gigi Cheuk
- Greater China Research Team
- Jieqi Liu
- Johnny Yum
- Jonathan Koh
- Kate Luang
- Kitpon Praipaisarnkit
- Krit Tanarattananon
- Llelleythan Tan Tan
- Malaysia Research Team
- Tanaporn Visaruthaphong
- Thailand Research Team
- Vincent Khoo Boo Aik
Regional Morning Meeting Notes: Tuesday, December 03, 2024
GREATER CHINA Strategy Alpha Picks: December Conviction Calls Add Desay, Meituan, Mengniu, Tencent, and Trip.com to our BUY list. Take profit from CATL. Update CR Mixc Lifestyle (1209 HK/BUY/HK$29.20/Target: HK$32.15) Takeaways from reverse roadshow in Shenzhen. China Resources Land (1109 HK/BUY/HK$23.25/Target:HK$32.40) Takeaways from reverse roadshow in Shenzhen. Small/Mid Cap Highlights Regina Miracle (2199 HK/Not Rated/HK$2....
MAJOR MAJOR CINEPLEX GROUP PCL
CK CH. KARNCHANG PCL
GRU GEELY AUTOMOBILE HOLDINGS LIMITED
FCT FRASERS CENTREPOINT TRUST
PTT PTT PUBLIC COMPANY LIMITED
01109 CHINA RESOURCES LAND LIMITED
CTRA CIPUTRA DEVELOPMENT
BBRI PT BANK RAKYAT INDONESIA (PERSERO) TBK CLASS B
IRPC IRPC PUBLIC CO. LTD.
ERW ERAWAN GROUP
EZQ CHINA MENGNIU DAIRY CO. LTD.
JSMR PT JASA MARGA (PERSERO) TBK CLASS B
ESSO ESSO (THAILAND)
N2IU MAPLETREE COMMERCIAL TRUST
IVL INDORAMA VENTURES PUBLIC CO. LTD.
AJBU KEPPEL DC REIT
BUOU FRASERS LOGISTICS & COMMERCIAL TRUST
BMRI PT BANK MANDIRI (PERSERO) TBK
KBANK KASIKORNBANK PUBLIC CO. LTD.
PTTEP PTT EXPLORATION & PRODUCTION PLC
601668 CHINA STATE CONSTRUCTION ENGINEERING CORP. LTD. CLASS A
599A SANDS CHINA LTD.
CPN CENTRAL PATTANA PUBLIC CO. LTD.
ASII PT ASTRA INTERNATIONAL TBK
Q5T FAR EAST HOSPITALITY TRUST
TRUE TRUE CORP. PUBLIC CO. LTD.
CDREIT CDL HOSPITALITY TRUSTS
03690 MEITUAN CLASS B
SUN SUNTECH SA
KREIT KEPPEL REIT
MLT MAPLETREE LOGISTICS TRUST
GAM GAMUDA BHD
VSI V.S. INDUSTRY BERHAD
MTC MUANGTHAI CAPITAL PCL
PREIT PARKWAYLIFE REAL ESTATE
SPOST SINGAPORE POST LTD
MYEG MY EG SERVICES BHD
MINT MAPLETREE INDUSTRIAL TRUST
PMAH PRESS METAL ALUMINIUM HOLDIN
CPALL TB CP ALL
HLBK HONG LEONG BANK BERHAD
SASSR SASSEUR REAL ESTATE INVESTMENT TRUST
RATCH RATCH GROUP PUBLIC CO. LTD.
TXG 10X GENOMICS INC CLASS A
2199 REGINA MIRACLE INTERNATIONAL
RGB RGB INTERNATIONAL BHD
ELITE ELITE COMMERCIAL REIT
UHU UNITED HAMPSHIRE US REIT
WHA TB WHA CORP PCL
CICT CAPITALAND INTEGRATED COMMERCIAL TRUST
LREIT SP LENDLEASE GLOBAL COMMERCIAL REIT
OXMU PRIME US REIT
HMN ASCOTT RESIDENCE TRUST
TIDLOR NGERN TID LOR PCL
CLCT CAPITALAND CHINA TRUST
KORE KEPPEL PACIFIC OAK US REIT
01209 CHINA RESOURCES MIXC LIFESTYLE SERVICES (RED CHIP)
3692 HANSOH PHARMACEUTICAL GROUP
002920 HUIZHOU DESAY SV AUTOMOTIVE CO LTD
BBTN BANK TABUNGAN NEGARA PERSERO TBK PT
BBNI BANK NEGARA INDONESIA PERSER
EXCL XL AXIATA (EXCELCOMINDO)
CMRY PT CISARUA MOUNTAIN DAIRY TBK
123F 123FAHRSCHULE SE
BCOW 1895 BANCORP OF WISCONSIN INC
CLAR CAPITALAND ASCENDAS REIT
AL2SI 2CRSI SA
DCRU DIGITAL CORE REIT MANAGEMENT PTE. LTD.
NCKL PT TRIMEGAH BANGUN PERSADA TBK (HARITA NICKEL)
2232 CRYSTAL INTERNATIONAL GROUP LTD
Z29 029 GROUP SE
IOIPG IOI PROPERTIES GROUP BHD
PEKAT PEKAT GROUP BHD
BRMI BOAT ROCKER MEDIA INC.
- Chris Hoare
- Singapore Research Team
Alpha Picks: Positive performance for Nov 24
Given the STI’s robust performance in Nov 24, our Alpha Picks portfolio underperformed the STI slightly by 1.4ppt, but still rose 3.7% mom on a market cap weighted basis and 1.2% on an equal-weighted basis respectively. The solid performance was driven by CSE, OCBC and DFI while GENS, MPM and VMS underperformed. Our Alpha Picks portfolio has now outperformed the STI in 12 out of the past 14 months.
544 CSE GLOBAL LTD.
V03 VENTURE CORPORATION LIMITED
U96 SEMBCORP INDUSTRIES LTD.
O39 OVERSEA-CHINESE BANKING CORPORATION LIMITED
G13 GENTING SINGAPORE LIMITED
SPOST SINGAPORE POST LTD
MINT MAPLETREE INDUSTRIAL TRUST
TXG 10X GENOMICS INC CLASS A
MPM MARCO POLO MARINE LTD
CSSC CHINA SUNSINE CHEMICAL HOLDINGS LTD
LREIT SP LENDLEASE GLOBAL COMMERCIAL REIT
CVL CIVMEC
STM SEATRIUM LTD
Z29 029 GROUP SE
- Chris Hoare
Nigerian Telcos Underlying top line stronger than ever, EBITDA inflec...
Nigerian Telcos continued to perform very well from a top line perspective despite the absence of price increases and the macro pressures. This suggests as we wrote HERE, that devaluations tend to spur ARPU increases in local currency, and a “catch back” of lost hard $ revenue.
- Chris Hoare
MTN (Buy, TP: ZAR130, +62%) Feedback from small group call
We hosted a small group Zoom call with MTN Group CEO, Ralph Mupita, MTN Group CFO, Tsholofelo Molefe and Head of IR, Thato Motlanthe last week. Tone was overall positive, with a particularly bullish conversation around consolidation across Africa.
- Chris Hoare
- Adrian Loh Tzum Yung
- Heidi Mo Jinghui
- John Cheong Ming Chern
- Jonathan Koh
- Roy Chen Chengzhi
Singapore Daily: Monday, November 11, 2024
KEY HIGHLIGHTS Sector Banking 3Q24 round-up: The race to work the balance sheet harder. Results Oversea-Chinese Banking Corp (OCBC SP/BUY/S$16.06/Target: S$21.00) 3Q24: The tide on capital management has turned. SATS (SATS SP/BUY/S$3.85/Target: S$4.30) 1HFY25: Core earnings beat; stay invested for long-term growth potential. United Overseas Bank (UOB SP/NOT RATED/S$35.69) 3Q24: Uplift in CET-1 CAR reinforces urgency for capital management. Venture Corporation...
- Arsit Pamaranont
- Chong Lee Len
- Gigi Cheuk
- Heidi Mo Jinghui
- Jonathan Koh
- Kampon Akaravarinchai
- Kate Luang
- Llelleythan Tan Tan
- Nurul Nazira Binti Abdullah
- Philip Wong
- Stevanus Juanda
Regional Morning Meeting Notes: Wednesday, November 06, 2024
GREATER CHINA Strategy Small-Mid Cap Monthly Stronger order visibility into 2025, reiterate BUY on Crystal International and raise target price to HK$5.12. INDONESIA Results Indofood Sukses Makmur (INDF IJ/BUY/Rp7,875/Target: Rp12,000) 3Q24: Ahead of consensus expectation – driven by IFAR. Indofood CBP (ICBP IJ/BUY/Rp12,450/Target: Rp15,000) 3Q24: Strong volume growth; core NPAT in line wit...
IRPC IRPC PUBLIC CO. LTD.
F34 WILMAR INTERNATIONAL LIMITED
VST HOLDINGS LTD.
ICBP PT INDOFOOD CBP SUKSES MAKMUR TBK
NETLINK NETLINK NBN TRUST
FNH FRASER & NEAVE HOLDINGS BHD
MSGB MAH SING GROUP BHD
ECW INDOFOOD CBP SUKSES MAKMUR T
SPSB ECO WORLD DEVELOPMENT GROUP
SWB SP SETIA BHD
TXG SUNWAY BHD
UEMS 10X GENOMICS INC CLASS A
321 UEM SUNRISE BHD
CICT TEXWINCA HOLDINGS LTD
MCH CAPITALAND INTEGRATED COMMERCIAL TRUST
123F MATRIX CONCEPTS HOLDINGS BHD
ITC 123FAHRSCHULE SE
2232 I-TAIL CORPORATION PUBLIC COMPANY LIMITED
EPIC CRYSTAL INTERNATIONAL GROUP LTD
IOIPG 1CM INC
LAGENDA IOI PROPERTIES GROUP BHD
LAGENDA PROPERTIES BHD
- Bella Lu Yifei
- Chong Lee Len
- Desmond Chong Chee Wai
- Greater China Research Team
- Jo Yee Ng
- Johnny Yum
- Jonathan Koh
- Ken Lee
- Kenny Yong Hui Lim
- Kitpon Praipaisarnkit
- Malaysia Research Team
- Paula Ruth
- Posmarito Pakpahan
- Roy Chen Chengzhi
- Shirley Wang Xueyi
- Stella Guo Yuting
- Stevanus Juanda
- Vincent Khoo Boo Aik
- Wei Xiang Ku
Regional Morning Meeting Notes: Monday, November 04, 2024
GREATER CHINA Strategy Alpha Picks: November Conviction Calls Add Hansoh Pharma, Sands China, CSCEC and BYDE to our BUY list. Add Sinopharm to our SELL list. Sector Aviation – China Airlines: 3Q24 earnings a slight miss; expect losses in seasonally weak 4Q24. Maintain UNDERWEIGHT. Macau Gaming Oct 24 GGR up 7% yoy and...
GRU GEELY AUTOMOBILE HOLDINGS LIMITED
CTRA CIPUTRA DEVELOPMENT
BBRI PT BANK RAKYAT INDONESIA (PERSERO) TBK CLASS B
JSMR PT JASA MARGA (PERSERO) TBK CLASS B
00285 BYD ELECTRONIC (INTERNATIONAL) CO. LTD.
KLBF PT KALBE FARMA TBK
ADVANC ADVANCED INFO SERVICE PUBLIC CO. LTD.
00027 GALAXY ENTERTAINMENT GROUP LIMITED
BMRI PT BANK MANDIRI (PERSERO) TBK
7113 TOP GLOVE CORPORATION BHD.
601668 CHINA STATE CONSTRUCTION ENGINEERING CORP. LTD. CLASS A
X2S SINOPHARM GROUP CO. LTD. CLASS H
5162 VSTECS
599A SANDS CHINA LTD.
ASII PT ASTRA INTERNATIONAL TBK
Q5T FAR EAST HOSPITALITY TRUST
TLKM PT TELKOM INDONESIA (PERSERO) TBK CLASS B
AD2 AIR CHINA LIMITED CLASS H
M4B CHINA MERCHANTS BANK CO. LTD. CLASS H
1055 CHINA SOUTHERN AIRLINES COMPANY LIMITED CLASS H
0670 CHINA EASTERN AIRLINES CORPORATION LIMITED CLASS H
AXIATA AXIATA GROUP BERHAD
MAXIS MAXIS BHD
YNS YINSON HOLDINGS BHD
RHBBANK RHB BANK BHD
T TELEKOM MALAYSIA BHD
GAM GAMUDA BHD
VSI V.S. INDUSTRY BERHAD
MYEG MY EG SERVICES BHD
ECW ECO WORLD DEVELOPMENT GROUP
TXG 10X GENOMICS INC CLASS A
RGB RGB INTERNATIONAL BHD
TDC TIME DOTCOM BHD
300750 CONTEMPORARY AMPEREX TECHNOLOGY CO. LTD. CLASS A
3692 HANSOH PHARMACEUTICAL GROUP
BBTN BANK TABUNGAN NEGARA PERSERO TBK PT
BBNI BANK NEGARA INDONESIA PERSER
EXCL XL AXIATA TBK PT
CMRY PT CISARUA MOUNTAIN DAIRY TBK
CDB CELCOMDIGI BHD
NCKL PT TRIMEGAH BANGUN PERSADA TBK (HARITA NICKEL)
2232 CRYSTAL INTERNATIONAL GROUP LTD
Z29 029 GROUP SE
02015 LI AUTO INC
LAGENDA LAGENDA PROPERTIES BHD
PEKAT PEKAT GROUP BHD
- Jonathan Koh
Singapore Daily: Friday, November 01, 2024
KEY HIGHLIGHTS Strategy Alpha Picks: Solid Beat For Oct 24 Our Alpha Picks portfolio beat the STI by 1.1ppt in Oct 24, rising 0.4% mom on an equal-weighted basis. Add MPM and remove SATS, FRKN and CLI for Nov 24. Sector REITs S-REITs monthly update (Oct 24). Results Mapletree Industrial Trust (MINT SP/BUY/S$2.40/Target: S$3.05) 2QFY25: Generating positive reversions and stable occupancies. Wilmar Intern...
544 CSE GLOBAL LTD.
V03 VENTURE CORPORATION LIMITED
U96 SEMBCORP INDUSTRIES LTD.
F34 WILMAR INTERNATIONAL LIMITED
BUOU FRASERS LOGISTICS & COMMERCIAL TRUST
O39 OVERSEA-CHINESE BANKING CORPORATION LIMITED
Q5T FAR EAST HOSPITALITY TRUST
D01 DAIRY FARM INTERNATIONAL HOLDINGS LIMITED
G13 GENTING SINGAPORE LIMITED
CDREIT CDL HOSPITALITY TRUSTS
SUN SUNTECH SA
KREIT KEPPEL REIT
MLT MAPLETREE LOGISTICS TRUST
PREIT PARKWAYLIFE REAL ESTATE
SPOST SINGAPORE POST LTD
MINT MAPLETREE INDUSTRIAL TRUST
03319 A-LIVING SMART CITY SERVICES CO. LTD. CLASS H
SASSR SASSEUR REAL ESTATE INVESTMENT TRUST
TXG 10X GENOMICS INC CLASS A
ELITE ELITE COMMERCIAL REIT
UHU UNITED HAMPSHIRE US REIT
MPM MARCO POLO MARINE LTD
CSSC CHINA SUNSINE CHEMICAL HOLDINGS LTD
CICT CAPITALAND INTEGRATED COMMERCIAL TRUST
LREIT SP LENDLEASE GLOBAL COMMERCIAL REIT
OXMU PRIME US REIT
HMN ASCOTT RESIDENCE TRUST
CLCT CAPITALAND CHINA TRUST
KORE KEPPEL PACIFIC OAK US REIT
CVL CIVMEC
TSVT 2SEVENTY BIO INC
CLAR CAPITALAND ASCENDAS REIT
DCRU DIGITAL CORE REIT MANAGEMENT PTE. LTD.
STM SEATRIUM LTD
Z29 029 GROUP SE
- Mihail Dimitrov
- Veselin Radoychev Please Change Surname
Morning Bulletin - 31 October 2024
The Bulgarian equity market had a mixed showing on Wednesday, though ultimately the main indexes were up in range from 0.39% to 0.74%. SOFIX (841.39, +0.40%) rebounded from its 200-day MA mainly supported by First Investment Bank (FIB, BGN 3.66, +5.17%) recovery after the announcement of Q3 financial data, which couldn’t reach the previous year results for the same period on the other hand. BGREIT (211.42) was the exception, following the pull back of the real estate sector and settled 0.41% low...
- Arsit Pamaranont
- Chong Lee Len
- Colin Lee
- Jack Goh Tooan Orng
- Jack Lai Yuan Khai
- Johnny Yum Chung Man
- Jonathan Koh
- Julia Pan Mengyao
- Kenny Yong Hui Lim
- Ming San Soong
- Shirley Wang Xueyi
- Stella Guo Yuting
- Stevanus Juanda
- Tanaporn Visaruthaphong
- Thanawat Thangchadakorn
Regional Morning Meeting Notes: Thursday, October 24, 2024
GREATER CHINA Results Hong Kong Exchanges and Clearing (388 HK/BUY/HK$314.80/Target: HK$364.00) 3Q24: Risk-and-reward is more balanced. Upgrade to BUY. Han’s Laser (002008 CH/HOLD/Rmb24.42/Target: Rmb22.70) 3Q24: Net profit misses, but visibility of recovery improving. Downgrade to HOLD. New Oriental Education & Technology Group (EDU US/BUY/US$62.15/Target: US$85.00) 1QFY25: In line; moderated growth outlook in 2QFY25 on low seasonality. Update Xtep International Holdings (...
KKP KIATNAKIN BANK
A0M4P7 HAN'S LASER TECHNOLOGY INDUSTRY GROUP CO. LTD. CLASS A
BBL BANGKOK BANK PUBLIC COMPANY LIMITED
00388 HONG KONG EXCHANGES & CLEARING LTD.
KTB KRUNG THAI BANK PUBLIC CO. LTD.
TISCO TISCO FINANCIAL GROUP
IVL INDORAMA VENTURES PUBLIC CO. LTD.
UNVR PT UNILEVER INDONESIA TBK
KBANK KASIKORNBANK PUBLIC CO. LTD.
5347 TENAGA NASIONAL BHD
MLT MAPLETREE LOGISTICS TRUST
KPG KERJAYA PROSPEK GROUP BHD
TXG 10X GENOMICS INC CLASS A
1368 XTEP INTERNATIONAL HOLDINGS
WHA TB WHA CORP PCL
SCB SCB X PUBLIC COMPANY LIMITED
AL2SI 2CRSI SA
Z29 029 GROUP SE
- Damon Shen
- Jack Goh Tooan Orng
- Jack Lai Yuan Khai
- Jieqi Liu
- Jonathan Koh
- Posmarito Pakpahan
- Shirley Wang Xueyi
- Stella Guo Yuting
Regional Morning Meeting Notes: Wednesday, October 23, 2024
GREATER CHINA Sector Property Expect a narrower gap between mortgage rates and rental yields of China’s major cities. Update Li Ning (2331 HK/BUY/HK$16.06/Target: HK$20.40) 3Q24 sell-through declined by mid-single-digit; uncertainties remain and discounts may deepen in 4Q24. INDONESIA Initiate Coverage Bank Syariah Indonesia (BRIS IJ/BUY/Rp3,000/Target: Rp3,400) ...
- Colin Lee
- Heidi Mo Jinghui
- John Cheong Ming Chern
- Johnny Yum Chung Man
- Kenny Yong Hui Lim
- Kong Ho Meng
- Paula Ruth
- Philip Wong
- Shirley Wang Xueyi
- Stella Guo Yuting
- Thanawat Thangchadakorn
- Ziv Ang Sze Champ
Regional Morning Meeting Notes: Tuesday, October 22, 2024
GREATER CHINA Results Ping An Insurance Group (2318 HK/BUY/HK$49.05/Target: HK$69.00) 3Q24: Bountiful harvest after prolonged dry spell. ZTE Corporation (763 HK/HOLD/HK$21.05/Target: HK$19.00) 3Q24: Results miss, expect stringent cost controls before next capex cycle. Downgrade to HOLD. Zijin Mining (2899 HK/BUY/HK$17.40/Target: HK$21.90) 3Q24: In line; mining entities’ gross margin down 1.2ppt qoq on lower copper ASP. Update Jiumaojiu In...
KBANK KASIKORNBANK PUBLIC CO. LTD.
ERAA ERAJAYA SWASEMBADA
2318 PING AN INSURANCE (GROUP) COMPANY OF CHINA LTD. CLASS H
2899 ZIJIN MINING GROUP CO. LTD. CLASS H
WPRTS WESTPORTS HOLDINGS BHD
0763 ZTE CORPORATION CLASS H
TXG 10X GENOMICS INC CLASS A
CVL CIVMEC
09922 JIUMAOJIU INTERNATIONAL HOLDINGS LTD.
SCB SCB X PUBLIC COMPANY LIMITED
0303 ALPHA IVF GROUP
- Anas Fitri Bin Ahmad
- Benjaphol Suthwanish
- Jack Goh Tooan Orng
- Jonathan Koh
- Kampon Akaravarinchai
- Keith Wee Teck Keong
- Malaysia Research Team
- Stevanus Juanda
Regional Morning Meeting Notes: Friday, October 11, 2024
INDONESIA Asian Gems Corporate Highlights Aspirasi Hidup Indonesia (ACES IJ/BUY/Rp720/Target: Rp1,200) Store expansion pace picking up. MALAYSIA Sector Plantation MPOB's Sep 24 data showed slow inventory rebuilding due to a decline in production even as exports improved. Results Top Glove (TOPG MK/BUY/RM1.03/Target: RM1.31) 4QFY24: Losses narrow but below expectation...
SCC SIAM CEMENT PUBLIC CO. LTD.
7113 TOP GLOVE CORPORATION BHD.
ACES PT ACE HARDWARE INDONESIA TBK
SOP SARAWAK OIL PALMS BERHAD
KIML KIM LOONG RESOURCES BHD
IOI IOI CORP BHD
KLK KUALA LUMPUR KEPONG BHD
CPALL TB CP ALL
GENP GENTING PLANTATIONS BHD
TXG 10X GENOMICS INC CLASS A
HAPL HAP SENG PLANTATIONS HOLDINGS BHD
CICT CAPITALAND INTEGRATED COMMERCIAL TRUST
123F 123FAHRSCHULE SE
Z29 029 GROUP SE
SDG SD GUTHRIE BHD
- Benjaphol Suthwanish
- Damon Shen
- Julia Pan Mengyao
- Llelleythan Tan Tan
- Nurul Nazira Binti Abdullah
- Posmarito Pakpahan
- Tanaporn Visaruthaphong
Regional Morning Meeting Notes: Thursday, October 10, 2024
GREATER CHINA Sector Property and Property Management Encouraging property sales during Golden Week; watching policy implementation and improvement in fundamentals in 4Q24. INDONESIA Asian Gems Corporate Highlights Bank Central Asia (BBCA IJ/BUY/Rp10,450/Target: Rp12,000) Plenty of room to grow. Bank Negara Indonesia (BBNI IJ/BUY/Rp5,325/Target: Rp6,560) Aspires to book 20% ROE in 2028. MALAYSIA Asian Gems Corporate Hi...
01109 CHINA RESOURCES LAND LIMITED
TOP THAI OIL PUBLIC CO. LTD.
SCNR SUNAC CHINA HOLDINGS LTD.
RLF LONGFOR GROUP HOLDINGS LTD.
BBCA PT BANK CENTRAL ASIA TBK
02669 CHINA OVERSEAS PROPERTY HOLDINGS LIMITED
SPOST SINGAPORE POST LTD
MSGB MAH SING GROUP BHD
06098 COUNTRY GARDEN SERVICES HOLDINGS CO. LTD.
TXG 10X GENOMICS INC CLASS A
WHA TB WHA CORP PCL
6049 POLY PROPERTY SERVICES CO LTD
SCGP SCG PACKAGING PCL
01209 CHINA RESOURCES MIXC LIFESTYLE SERVICES (RED CHIP)
BBNI BANK NEGARA INDONESIA PERSER
123F 123FAHRSCHULE SE
- Chris Hoare
EM Towers Q2 CY24 review: Improving trends in China and Africa, Indon...
Revenue and EBITDA trends improved again for China Tower, which alongside stable depreciation supported bottom-line momentum. In Indonesia, MTEL and TOWR continued to perform where the latter benefited from faster growth in its Fibre business thus should act as a buffer should the XL and Smartfren deal were to proceed.
- Jonathan Koh
- Singapore Research Team
Singapore Daily: Thursday, October 03, 2024
KEY HIGHLIGHTS Strategy Alpha Picks: Outperforming For Sep 24 And 3Q24 Our Alpha Picks portfolio beat the STI, rising 5.4% mom in Sep 24 and 7.9% qoq on an equal-weighted basis. Add CLI, CSSC, DFI and SATS, and remove ST for Oct 24. Update Mapletree Industrial Trust (MINT SP/BUY/S$2.50/Target: S$3.05) Further expansion in Japan with potential for redevelopment. TRADERS' CORNER Oversea-Chinese Banking Corp (OCBC SP): Trading BUY Keppel DC REIT (KD...
V03 VENTURE CORPORATION LIMITED
U96 SEMBCORP INDUSTRIES LTD.
O39 OVERSEA-CHINESE BANKING CORPORATION LIMITED
SATS SP SATS LTD.
D01 DAIRY FARM INTERNATIONAL HOLDINGS LIMITED
G13 GENTING SINGAPORE LIMITED
SPOST SINGAPORE POST LTD
MINT MAPLETREE INDUSTRIAL TRUST
TXG 10X GENOMICS INC CLASS A
FRKN FRENCKEN GROUP LTD
CSSC CHINA SUNSINE CHEMICAL HOLDINGS LTD
LREIT SP LENDLEASE GLOBAL COMMERCIAL REIT
9CI CAPITALAND INVESTMENT LTD
688536 3PEAK INCORPORATED
STM SEATRIUM LTD
CVL CIVMEC LIMITED
- Pelham Smithers
PSA Strategy: Japan Stock Market Quarterly 2024 Q4
When the BoJ raised rates in March, it had been 17 years since it had last done so, though the world was very different then. While the July rate hike was unlikely to move the economic needle, the question now is what else might follow the subsequent financial market maelstrom. Pelham Smithers discusses the outlook for Japan’s macro environment, what new fiscal policies the new PM might introduce, how the BoJ might react and the all-important trend in corporate earnings. This then leads us to...
6754 ANRITSU CORPORATION
7751 CANON INC.
4519 CHUGAI PHARMACEUTICAL CO. LTD.
4751 CYBERAGENT INC.
4755 RAKUTEN INC.
3107 DAIWABO HOLDINGS CO. LTD.
8473 SBI HOLDINGS INC.
6954 FANUC CORPORATION
4324 DENTSU GROUP INC.
6861 KEYENCE CORPORATION
4902 KONICA MINOLTA INC.
6988 NITTO DENKO CORP.
7752 RICOH COMPANY LTD.
6869 SYSMEX CORPORATION
3064 MONOTARO CO. LTD.
5801 FURUKAWA ELECTRIC CO. LTD.
5715 FURUKAWA CO. LTD.
7205 HINO MOTORS LTD.
6501 HITACHI LTD.
6305 HITACHI CONSTRUCTION MACHINERY CO. LTD.
7267 HONDA MOTOR CO. LTD.
7012 KAWASAKI HEAVY INDUSTRIES LTD.
9107 KAWASAKI KISEN KAISHA LTD.
6971 KYOCERA CORPORATION
8316 SUMITOMO MITSUI FINANCIAL GROUP INC.
6503 MITSUBISHI ELECTRIC CORP.
5632 MITSUBISHI STEEL MANUFACTURING CO. LTD.
5706 MITSUI MINING AND SMELTING COMPANY LIMITED
6966 MITSUI HIGH-TEC INC.
6902 DENSO CORPORATION
6701 NEC CORP.
6594 NIDEC CORPORATION
7201 NISSAN MOTOR CO. LTD.
4666 PARK24 CO. LTD.
6268 NABTESCO CORPORATION
2371 KAKAKU.COM INC.
9984 SOFTBANK GROUP CORP.
8136 SANRIO COMPANY LTD.
6758 SONY CORPORATION
5802 SUMITOMO ELECTRIC INDUSTRIES LTD.
6762 TDK CORPORATION
6976 TAIYO YUDEN CO. LTD.
6315 TOWA CORPORATION
7203 TOYOTA MOTOR CORP.
4208 UBE INDUSTRIES LTD.
8698 MONEX GROUP INC.
3774 INTERNET INITIATIVE JAPAN
3765 GUNGHO ONLINE ENTERTAINMENT INC.
2160 GNI GROUP LTD.
3659 NEXON CO. LTD.
3445 RS TECHNOLOGIES CO. LTD.
6269 MODEC INC
3769 GMO PAYMENT
68900 FERROTEC CORPORATION
9519 RENOVA
4385 MERCARI INC.
3993 PKSHA TECHNOLOGY INC.
3626 JT TIS INC
9434 SOFTBANK CORP.
TXG 10X GENOMICS INC CLASS A
TGIF 1933 INDUSTRIES
7071 AMVIS HOLDINGS
78320 BANDAI NAMCO
45870 PEPTIDREAM INC
4443 JT SANSAN (4443 JT)
3491 JT GA TECHNOLOGIES
3394 JT MONEY FOWARD
4480 MEDLEY
RRRP3 3R PETROLEUM OLEO E GAS
6532 JT BAYCURRENT CONSULTING (6532 JT)
3697 JT SHIFT INCORPORATED (3697 JT)
4483 JMDC
4180 JP APPIER GROUP
TSE: 2980 SRE HOLDINGS CORP
4194 VISIONAL INC
9552 M&A RESEARCH INSTITUTE
123F 123FAHRSCHULE SE
9616 JT KYORITSU MAINTENANCE (9616 JT)
9552 JT M&A RESEARCH INSTITUTE (9552 JT)
6544 JT JAPAN ELEVATOR SERVICES HOLDINGS (6544 JT)
6200 JT INSOURCE (6200 JT)
2154 JT OPEN UP GROUP (2154 JT)
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