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Stock Analysis  - 
 
Capitaland Commercial Trust CCT 4Q16 DPU up by 10.1% to 2.39 SGD cents.

DBS - Ang bao from CapitaGreen [BUY]
UOB - 4Q16 Harvesting Gains From CapitaGreen [BUY]
RHB - On The Right Track ~ 4Q16 Results in line [BUY]
CIMB - 4Q lifted by CapitaGreen [HOLD]
Maybank - Stable performance [BUY]
OCBC - Boost from higher stake in CapitaGreen [HOLD]

#CapitalandCommercialTrust #CCT
#SGinvestors 
CAPITALAND COMMERCIAL TRUST (C61U.SI) Analyst Reports on CapitaCom Trust | SGX Listed Stock / REIT Information @ SG investors.io
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SGinvestors.io
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Stock Analysis  - 
 
#AVITech Electronics Ltd -
CIMB Securities 2017-01-19: Firmly back on track.

AVI-Tech Electronics Ltd (#AVIT) is a total solutions service provider offering burn-in, engineering and manufacturing services.
The company reported two consecutive years of profit after exiting loss-making businesses in the US.
Net cash (Sep ‘16A) formed 56% of AVIT’s market capitalisation (as at 18 Jan ‘17).
AVIT trades at historical FY6/16A P/E of 8.6x and historical dividend yield is 5.8%.

#AnalystReport #SGinvestors
AVI-Tech Electronics Ltd - CIMB Securities 2017-01-19: Firmly back on track. AVI-Tech Electronics Ltd (AVIT) is a total solutions service provider offering burn-in, engineering and manufacturing services. The company reporte...
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SGinvestors.io
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Stock Analysis  - 
 
#VivaIndustrialTrust -
OCBC Investment 2017-01-20: Reiterate BUY; completion of Chin Bee acquisition.

Viva Industrial Trust (#VIT) has completed the acquisition of newly completed ramp-up logistics development (Chin Bee Property) for S$87.3m, excluding the upfront land premium and stamp duty.
In 2017, we look forward to two catalysts for an improvement of fundamentals at #UEBizHub – the removal of hoarding and the completion of the Downtown Line connection at Expo nearer the end of the year.

#AnalystReport #SGinvestors
Viva Industrial Trust - OCBC Investment 2017-01-20: Reiterate BUY; completion of Chin Bee acquisition. Viva Industrial Trust (VIT) has completed the acquisition of newly completed ramp-up logistics development (Chin Bee Prop...
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SGinvestors.io
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Strategy  - 
 
Singapore Strategy -
CIMB Research 2017-01-19: Marketing feedback.

Our recent marketing themes:
under-owned cyclicals could turn around,
US$ strength and better US economy, and
consumer stocks turnaround stories.

Alpha picks: #Venture, #STEngineering, #UOL, #DairyFarm, #FirstResources, #BestWorld, #Cityneon, #MermaidMaritime, #Valuetronics. We also added #SembcorpMarine to the list.

#AnalystReport #SGinvestors
Singapore Strategy - CIMB Research 2017-01-19: Marketing feedback. Our recent marketing themes: under-owned cyclicals could turn around, US$ strength and better US economy, and consumer stocks turnaround stories. Alpha pi...
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SGinvestors.io
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Stock Analysis  - 
 
#SGX -
OCBC Investment 2017-01-20: Outlook is improving.

#SingaporeExchange (SGX) posted 2QFY17 results which were ahead of market expectations.
Net earnings came in at S$88.3m versus Bloomberg consensus of S$84.4m, up 5.4% YoY and 6.3% QoQ.
With the better outlook for the trading market and with expected volatility ahead, this could potentially be positive for trading activities on the exchange.

#AnalystReport #SGinvestors
SGX - OCBC Investment 2017-01-20: Outlook is improving. Singapore Exchange (SGX) posted 2QFY17 results which were ahead of market expectations. Net earnings came in at S$88.3m versus Bloomberg consensus of S$84.4m, up 5.4% Y...
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SGinvestors.io
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Stock Analysis  - 
 
#SingaporeExchange -
CIMB Research 2017-01-19: Decent quarter amid cost discipline.

Singapore Exchange Limited (#SGX) reported a 2QFY17 net profit of S$88.3m (+6% qoq, +5% yoy), Revenue growth of 5% qoq and 3% yoy was driven by a recovery in both securities and derivatives trading volume amid higher market volatility despite Oct-Dec being a seasonally-weak quarter.

#AnalystReport #SGinvestors
Singapore Exchange - CIMB Research 2017-01-19: Decent quarter amid cost discipline. Singapore Exchange Limited (SGX) reported a 2QFY17 net profit of S$88.3m (+6% qoq, +5% yoy), Revenue growth of 5% qoq and 3% yoy was driven ...
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SGinvestors.io
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Strategy  - 
 
Small & Mid Caps Monthly -
DBS Research 2017-01-18: Focus on growth in the new year.

Conviction ideas for January – #Cityneon, #CNMCGoldmine, #Ezion, #Japfa and #mm2, based on three key themes:
Strong growth/earnings turnaround; Beneficiaries of a US recovery and strong US dollar; Strong cashflow and yields.

#AnalystReport #SGinvestors #TopPicks
Small & Mid Caps Monthly - DBS Research 2017-01-18: Focus on growth in the new year. December picks outperform, gaining 3.2% on average against the market’s +0.5%. Conviction ideas for January – Cityneon, CNMC Goldmine, Ezio...
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SGinvestors.io
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Stock Analysis  - 
 
#Cityneon Holdings -
DBS Research 2016-12-29: Attractive growth profile.

We have trimmed earnings for FY17F by 8% to factor in the delay in the launch for #Transformers in Las Vegas. Despite this, we continue to expect Cityneon to register explosive FY16-FY19F EPS CAGR growth of c.150%.
Cityneon is attractive to investors seeking growth and unique ideas in the entertainment industry.

#AnalystReport #SGinvestors
Cityneon Holdings - DBS Research 2016-12-29: Attractive growth profile. We have trimmed earnings for FY17F by 8% to factor in the delay in the launch for Transformers in Las Vegas. Despite this, we continue to expect Cityneo...
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SGinvestors.io
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Stock Analysis  - 
 
#CambridgeIndustrialTrust (#CREIT SP) -
DBS Research 2017-01-19: e-Shang Redwood to acquire 80% indirect interest in the Manager

#eShangRedwood (ESR)’s subsidiary will acquire an 80% indirect interest in the Trust Manager of Cambridge Industrial Trust (#CIT).
ESR is the second largest developer in North Asia focusing on warehouses, with 6.5m sqm of projects.
We are positive for CIT to have a strong Sponsor who should benefit from the growing e-commerce sector.

#AnalystReport #SGinvestors
Cambridge Industrial Trust (CREIT SP) - DBS Research 2017-01-19: e-Shang Redwood to acquire 80% indirect interest in the Manager e-Shang Redwood (ESR)’s subsidiary will acquire an 80% indirect interest in the Trust Manager o...
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SGinvestors.io
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Stock Analysis  - 
 
#FirstREIT -
OCBC Investment 2017-01-19: Ending FY16 on a stable footing.

First REIT (#FREIT) reported a stable set of 4Q16 results which met our expectations.
While we like FREIT for its healthy balance sheet (gearing of 30.8% as at end-FY16) and exposure to Indonesia’s robust healthcare sector, we maintain our HOLD rating on the stock as we see limited upside potential at current price level.

#AnalystReport #SGinvestors
First REIT - OCBC Investment 2017-01-19: Ending FY16 on a stable footing. First REIT (FREIT) reported a stable set of 4Q16 results which met our expectations. Rolling forward our valuations, our fair value estimate is lower...
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Platform for Singapore Share Investors to share news, research, analysis and discuss investment matters.
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SGinvestors.io
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Stock Analysis  - 
 
#SingaporeExchange Limited -
Phillip Securities 2017-01-20: Securities Business Charged Up by “Animal Spirits”.

Equities and Fixed Income business boosted by higher SDAV and bond listings. Equity and Commodities derivatives revenue decreased 2.8% y-o-y.
We have lowered our FY17e revenue because of expectations of weaker revenue contributions from derivatives as average fee per contract continues to trend on the low side.

#AnalystReport #SGinvestors #SGX
Singapore Exchange Limited - Phillip Securities 2017-01-20: Securities Business Charged Up by “Animal Spirits”. Equities and Fixed Income business boosted by higher SDAV and bond listings. Equity and Commodities derivatives...
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SGinvestors.io
moderator

Stock Analysis  - 
 
#SingaporeExchange -
DBS Research 2017-01-20: Net profit gained 5% y-o-y on increased market activity.

Equities and Fixed Income did well but revenue for Derivatives eased slightly.
Expenses largely unchanged; guiding for lower expenses ahead.
Maintain forecasts and BUY call with TP of S$8.30.

#AnalystReport #SGinvestors #SGX
Singapore Exchange - DBS Research 2017-01-20: Net profit gained 5% y-o-y on increased market activity. Equities and Fixed Income did well but revenue for Derivatives eased slightly. Expenses largely unchanged; guiding for lo...
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SGinvestors.io
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Stock Analysis  - 
 
#SGX -
RHB Invest 2017-01-20: 2QFY17 Results Flash Note.

2QFY17 net profit of SGD88m was up 5% YoY. 1HFY17 net profit of SGD171m represented 45% of our FY17 net profit forecast of SGD385m. Derivatives accounted for 38% of total revenue (down from 2QFY16’s 40% previously).

#AnalystReport #SGinvestors
SGX - RHB Invest 2017-01-20: 2QFY17 Results Flash Note. 2QFY17 net profit of SGD88m was up 5% YoY. 1HFY17 net profit of SGD171m represented 45% of our FY17 net profit forecast of SGD385m. Derivatives accounted for 38% of tot...
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SGinvestors.io
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Stock Analysis  - 
 
#HotungInvestmentHoldings -
RHB Invest 2017-01-20: Venture capital business with strong dividend yield.

#HotungInvestment Holdings (HIH SP) is one of the pioneers in the venture capital business, with over 30 years of investment and fund management experience. The group operates primarily in Taiwan, China, and Silicon Valley and has listed 200 companies on major exchanges around the world.

#AnalystReport #SGinvestors
Hotung Investment Holdings - RHB Invest 2017-01-20: Venture capital business with strong dividend yield. Hotung Investment Holdings (HIH SP) is one of the pioneers in the venture capital business, with over 30 years of inves...
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SGinvestors.io
moderator

Stock Analysis  - 
 
#ShengSiongGroup (SSG SP) -
UOB Kay Hian 2017-01-20: Upgrade To BUY With 20% Upside.

We upgrade SSG from HOLD to BUY on valuation grounds as the stock price has retreated by 20% from its high in late-16. Even though competition for selling space is high, putting outlet expansion at risk, we believe the company has what it takes to weather this period of irrational exuberance and emerge stronger.

#AnalystReport #SGinvestors
Sheng Siong Group (SSG SP) - UOB Kay Hian 2017-01-20: Upgrade To BUY With 20% Upside. We upgrade SSG from HOLD to BUY on valuation grounds as the stock price has retreated by 20% from its high in late-16. Even though compet...
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SGinvestors.io
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Strategy  - 
 
Small Mid Caps Monthly -
DBS Research 2017-01-19: Non-REIT yield plays could outperform in a rising interest rate environment.

In a rising interest rate environment, non-REIT yield plays such as #Venture, #ShengSiong and #Katrina could outperform.

#AnalystReport #SGinvestors #SmallMidCaps
#SingaporeStock
Small Mid Caps Monthly - DBS Research 2017-01-19: Non-REIT yield plays could outperform in a rising interest rate environment. In a rising interest rate environment, non-REIT yield plays such as Venture, Sheng Siong and Katr...
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SGinvestors.io
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Stock Analysis  - 
 
#CapitaLandCommercialTrust -
CIMB Research 2017-01-18: 4Q lifted by #CapitaGreen.

4Q16 DPU was slightly above our estimate and FY16 DPU beat our forecast by 2%.
The results were boosted by the strong showing from CapitaGreen and improved performance from #RafflesCity.
We expect FY17-18 outlook to remain fairly steady with fewer lease expiries and potential stabilisation of office rents with new supply tapering off.

#AnalystReport #SGinvestors
CapitaLand Commercial Trust - CIMB Research 2017-01-18: 4Q lifted by CapitaGreen. 4Q16 DPU was slightly above our estimate and FY16 DPU beat our forecast by 2%. The results were boosted by the strong showing from CapitaGreen...
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SGinvestors.io
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Stock Analysis  - 
 
#FirstREIT -
Phillip Securities 2017-01-19: Strong sponsor acquisition pipeline to look forward to.

First REIT closed FY16 with a record DPU of SG 8.47 cents, up 2% from FY2015. Portfolio valuation dropped 1.2% as a result of weaker cashflow due to the weak Singapore CPI.
We maintain our ACCUMULATE call for First REIT.

#AnalystReport #SGinvestors
First REIT - Phillip Securities 2017-01-19: Strong sponsor acquisition pipeline to look forward to. First REIT closed FY16 with a record DPU of SG 8.47 cents, up 2% from FY2015. Terminated Siloam Hospitals Yogyakarta (first ...
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SGinvestors.io
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Stock Analysis  - 
 
#CapitaLandCommercialTrust -
DBS Research 2017-01-19: Ang bao from CapitaGreen.

CapitaLand Commercial Trust (#CCT)'s 4Q16 DPU was 10% y-o-y higher, slightly above expectations.
Growth will continue to be driven by recent acquisition of remaining 60% stake in #CapitaGreen.
Disposal of #WilkieEdge above book value, and redevelopment of #GoldenShoe are next catalysts.

#AnalystReport #SGinvestors
CapitaLand Commercial Trust - DBS Research 2017-01-19: Ang bao from CapitaGreen. CapitaLand Commercial Trust (CCT)'s 4Q16 DPU was 10% y-o-y higher, slightly above expectations. Growth will continue to be driven by recent ac...
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SGinvestors.io
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Stock Analysis  - 
 
#CapitaLandCommercialTrust (#CCT SP) -
UOB Kay Hian 2017-01-19: 4Q16 Harvesting Gains From CapitaGreen.

CCT’s results were bolstered by the higher contribution from full ownership of #CapitaGreen. Overall negative rental reversions were seen in 4Q16, with average portfolio rent of S$9.20 showing a qoq dip. Proactive forward renewals and CapitaGreen’s contributions should ameliorate rental pressure on leases due in 2017-18.

#AnalystReport #SGinvestors
CapitaLand Commercial Trust (CCT SP) - UOB Kay Hian 2017-01-19: 4Q16 Harvesting Gains From CapitaGreen. CCT’s results were bolstered by the higher contribution from full ownership of CapitaGreen. Overall negative rental reve...
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