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SGinvestors.io - Where SG Investors Share
SGinvestors.io - Where SG Investors Share

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The average 30 day volatility of the 30 #STI constituents continued to increase in April, rising to 22.3% at the end of the month, up from 21.9% at the end of March, and up from 15.6% at the end of April 2017.

YangzijiangShipbuilding, #GoldenAgriResources, #GentingSingapore, #Venture, #HPHTrust, #SPH and #SATS averaged daily trading ranges of more than 2.0% in April. Another 8 STI stocks averaged ranges above 1.5%.


#SingaporeStock
#StraitsTimesIndex
#MarketVolatility
#SGinvestors
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The average 30 day volatility of the 30 #STI constituents continued to increase in April, rising to 22.3% at the end of the month, up from 21.9% at the end of March, and up from 15.6% at the end of April 2017.

YangzijiangShipbuilding, #GoldenAgriResources, #GentingSingapore, #Venture, #HPHTrust, #SPH and #SATS averaged daily trading ranges of more than 2.0% in April. Another 8 STI stocks averaged ranges above 1.5%.


#StraitsTimesIndex #MarketVolatility
#SGinvestors

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The #StraitsTimesIndex continued to outperform the region in April with Bank-led gains driving the #STI’s total return to 7.1% over the first four months of 2018.

The 3 strongest sector segments in April included Banks, Telecom Services and Consumer Staples.

#M1 led the performances of the largest Telecommunication Services stocks in April with a 7.6% total return, whilst #ThaiBeverage PCL and #ShengSiong Group led the largest Consumer Staples stocks with 9.6% and 9.7% respective returns.


#SGX
#SGinvestors

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The #StraitsTimesIndex continued to outperform the region in April with Bank-led gains driving the #STI’s total return to 7.1% over the first four months of 2018.

The 3 strongest sector segments in April included Banks, Telecom Services and Consumer Staples.

#M1 led the performances of the largest Telecommunication Services stocks in April with a 7.6% total return, whilst #ThaiBeverage PCL and #ShengSiong Group led the largest Consumer Staples stocks with 9.6% and 9.7% respective returns.


#SGX
#SGinvestors

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#CapitaLand -
CIMB Research 2018-04-30: Execution On Track.

CapitaLand’s 1Q18 revenue rose 53.3% y-o-y to S$1.38bn on higher contributions from Singapore and China residential and consolidation of CMT, CRCT and RCS Trust’s topline. Net profit slipped 19% y-o-y to S$319m due to a high divestment gain in the previous year.

CapitaLand divested S$1.9bn worth of assets and made S$40m of investments in 1Q18. It remains on track to recycle S$3bn of investment properties annually and maintains its AUM target of S$100bn by 2020.

Maintain ADD.

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#YangzijiangShipbuilding -
DBS Research 2018-04-30: Good Entry Point.

As the largest and most cost-efficient private shipbuilder in China, #Yangzijiang Shipbuilding is well positioned to ride the anticipated shipping and shipbuilding recovery. Its strategy to move up into the LNG/LPG vessel segment propels the longer-term prospects of company.

It has a solid balance sheet, sitting on net cash of 76 Scts per share (including financial assets), representing ~52% of NTA. Value is emerging as the stock trades at undemanding valuation of 0.8x P/BV, against 9% ROE and 4% yield. Recent upswing in BDI should also lift sentiment. Reiterate BUY.

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#WilmarInternational -
UOB Kay Hian 2018-04-30: 1Q18 Results Preview ~ Expecting A Good Quarter.

We are expecting a better y-o-y performance in 1Q18 due to:
- higher soybean crushing margin on stronger soymeal prices;
- CNY demand for consumer products; and
- higher contributions from the sugar division on delayed sugar sales from 2017.
We estimate core net profit at US$320m-360m for 1Q18 (1Q17: US$313m).

Future earnings growth is expected to be supported by its expansion in China.
Maintain BUY. Target price: S$4.10.

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#DBSGroup -
OCBC Investment 2018-04-30: Buy Lah!

#DBS kick-started the 1Q result season for the banks with a strong set of earnings. Net earnings of S$1.51b, which beat market expectations, were up 21% y-o-y and 27% q-o-q. This is also a record quarterly high for the group.

CEO Piyush Gupta is fairly optimistic about its outlook, highlighting that the “pipeline is strong and we expect to continue to capture business opportunities and delivering shareholder returns in the coming year.”

We have fine-tuned and raised Fair Value to S$34.60. With a dividend payout of S$1.20, dividend yield is 4.0%.

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#ShengSiong -
RHB Invest 2018-04-30: Benefiting From The Recovery In Consumer Spending.

Sheng Siong delivered a strong 1Q18 PATMI of SGD18.3m, meeting 25% of our full-year estimate. Sales grew 5% y-o-y, despite the closure of two outlets at the Verge and Woodlands. We believe the group would continue to enjoy the positive sales impact from the recovery in Singapore’s consumer sentiment.
YTD, it has acquired six new stores.

We raise our earnings estimates by 2-6%, which boosts our Target Price to SGD1.18. Maintain BUY.

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#Valuetronics -
RHB Invest 2018-04-30: Fundamentals Intact, A Buying Opportunity.

Valuetronic’s share price has slumped 25% since its Dutch MNC customer reported a 1Q18 earnings miss. Weak earnings announced by its peers as well as soft sentiment in the electronics and semiconductor sector also contributed to the share price decline. However, we think the selldown is overdone as fundamentals and growth remain intact.

We lower our Target Price to SGD0.96, based on a lower FY19F P/E of 10x (from 11x) to reflect the weaker sentiment globally. Maintain BUY.
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