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Asian Healthcare Specialists (SGX:1J3) -
NRA Capital Research 2018-06-18: Highly Profitable Business With Aggressive Growth Plans.

#AsianHealthcareSpecialists (AHS) is best known as #TheOrthopaedicCentre chain of clinics. The popularity and skill of its top doctors is evidenced by their revenue generating ability.

After adjusting for IPO and listing costs, we estimate that recurring PAT is about S$3.64m/year, on a post-listing equity base of only S$12m. Hence, Asian Healthcare Specialists returns > 20% on its equity each year.

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#Shopper360 Limited -
Phillip Securities 2018-06-13: The Key To Win Consumers’ Dollars.

#shopper360 is a well-established shopper marketing services provider in Malaysia with 30 years of experience in the in-store advertising industry.

It has a strong client base of local and multi-national customers including #Nestle, #ColgatePalmolive, #FNN Beverage, #Fonterra, #Samsung, #UMobile and #Huawei; and strong network of retail partners such as #Giant, #ColdStorage, #Econsave, #TheStore, #Billion, #MYDIN, #Aeon, and convenience chain store such as #99Speedmart, as well as pharmacy chains.

Expect Core earnings to grow at 20% p.a. in FY18-19e. Initiate with a TRADING BUY with target price of S$0.33, implies an upside of 87.0%.

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#SingTel -
CGS-CIMB Research 2018-06-14: Singing A Decent Melody.

📳 Singtel believes the market cannot support 4 operators and will eventually consolidate.

#Amobee IPO potentially in 2-3 years.
#Telkomsel plans to raise reload prices/cut quota in early-Jul.
#AirtelIndia believes that there is opportunity to gain from potential market share displacement.
#Optus says Telstra has become more price aggressive in recent months.

Attractive yields of 5.4-5.7%. Maintain ADD with unchanged target price.

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#SATS Ltd -
OCBC Investment 2018-06-14: Looking Attractive With A Long-term View.

#Singapore’s #ChangiAirport​ continued to post encouraging operating statistics for Apr 18. Strong traffic growth at Changi Airport is positive for SATS as we estimate that it handles ~80% of the traffic throughput there.

We like its partnership with #Wilmar​ to supply quality and safe food in China, leveraging on each other’s capabilities. We are constructive on SATS’ ground handling partnership with #AirAsia​ where both firms will own an interest in each other’s ground-handling units.

Upgrade SATS to BUY.

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#RHTHealthTrust -
CGS-CIMB Research 2018-06-13: Focus On Proposed Transaction.

Recent weakness of the Indian rupee against the Singapore dollar to have negative impact on the settlement value of proposed disposal of assets. Delays in rollout of new bed capacity to negatively affect #RHT earnings projections.

Outstanding 2.15 Scts DPU for FY3/18 may be considered for payout.

Maintain HOLD with a lower DDM-based Target Price of S$0.81.

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#CDLHospitalityTrusts -
UOB Kay Hian 2018-06-14: Company Visit Reiterates Positive View.

Management shared their optimism on room rate pick-up for CDL Hospitality Trusts ( #CDLHT )’s Singapore hotels going forward, on the back of tapering hotel room growth and stronger visitor arrivals.

Minimal competition is expected from home-sharing platforms.

On the acquisition front, management guided for more overseas acquisitions, especially in European cities.

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#M1​, #Singtel​, #StarHub​ -
Singapore Telecommunications Stocks - UOB Kay Hian 2018-06-12.

➡️ The Catch Phrase Is “free”.

Competition has intensified even before TPG launches its mobile services on a commercial basis.

📳 #TPGTelecom​ to offer senior citizens aged 65 and above 3GB of data and unlimited local calls free for the first 24 months.
📳 #CirclesLife​ has also launched its new Flexi Plan which provides 1GB of data and 30 minutes of local talk time for free.
📳 #Zero1​ will offer the first 3,000 pre-registering customers unlimited mobile data plan at S$19/month.
📳 #MyRepublic​ intends to cross-sell to its base of 70,000 fibre broadband subscribers.

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#UOB -
OCBC Investment 2018-06-13: Right ‘BUY’ You.

In our last report when we downgraded the stock to a HOLD, we recommended investors to buy at S$29.00 or lower. Since then, the stock has dropped below S$28.00 recently.

At current UOB​ share price, value is emerging, and we deem this to be a good level.

Current dividend yield of 3.6% will complement the potential price upside to our fair value estimate of S$31.02.

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#BankingSector #Singapore -
OCBC Investment 2018-06-13: Bank For Your Buck!

📈📉 Banking stocks have performed well this year, up some 9% YTD at the high. While share prices have come off and the index is now off the year’s high in May 2018, we believe that most of the positive drivers are still intact despite current equity market softness.

We think that the recent price weakness, partly due to the lull period in May and June, could also be an opportune time to accumulate.


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#SingaporePressHoldings ( #SPH ) -
UOB Kay Hian 2018-06-13: Page Count Still Down, But Showing A Moderation In Pace.

Our page count of #TheStraitsTimes showed a fall of 12.5% y-o-y (2QFY17: 12.7%). The pace of decline appears to be moderating, and print revenue decline for FY18 appears to be shaping up for 10-11% for the year.

We note a slight decoupling in the correlation between physical page counts and print revenue.

Our earnings estimates are unchanged. Maintain HOLD with a revised target price of S$2.46.
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