Powered by Blogger.
Latest Post

Research Reports : 21st September 2018

Shared By Stock Fanatic on Friday, September 21, 2018 | 21.9.18


***Reports Highlights***
1) Stock To Watch 
Ascott Residence Trust : Venturing into maiden development project

2) Asia Pacific Strategy
Alpha Edge: Rise of the US bond yields?

3) Top pick for the day : UK’s FTSE 100

4) Sector To Watch
Market View Update : CPO stocks are approaching seasonal lows

5) Stock To Watch
Ascott Residence Trust : Maiden greenfield development

6) Market Snapshot : US stock benchmarks reach new highs

7) Global Markets Daily : USD/AXJs Drifts Lower

8) Soilbuild REIT : Positive on the Aussie diversification

9) Trading Ideas
Quantitative Alerts (Singapore) : Active Stocks

10) BreadTalk Ltd : Daily timeframe – Bullish

11) Thai Beverage : Cannot Be More Sober; Maintain BUY

12) Vividthree Holdings : IPO Factsheet

15) Stock To Watch 
Keppel Corporation : Makes First Foray Into The Nanjing Property Market

Read All Reports - Click Here

Asia Energy - Return of Spending

Shared By Stock Fanatic on Thursday, September 20, 2018 | 20.9.18


Recovery in offshore capex from the lows of 2018 should be positive for Singapore and Chinese oil services players, while Korean E&C firms are already seeing increases in orderbook. Samsung Engineering, SMM and SPT are our top picks.

To date, global investment in upstream oil has risen a modest ~5% vs. the 2016 trough, but we see this moving up to ~15% to 2020,and ~30% to 2022. 2020 looks to be the first year the industry will experience material, synchronized capex growth since before the downturn. Recovery in offshore spending is more pronounced post the deep downturn with project break-even at US$50/bbl oil and diminishing gas glut adding to upside risks to new FIDs in LNG. Orderbooks should recover as infrastructure accounts for half of total spending, signs of which have reappeared in 2018. The potential recovery leads us to shift our preference to SMM, the most levered play on production unit demand recovery in Asia. In China, we like Honghua and SPT Energy, with strong new order recovery and improving balance sheets. Korea E&Cs are also seeing orders tick up with Samsung Engineering our preferred play.

We estimate a 10% rise in offshore global capex as majors increase spending after remaining flat for the past few years. As well, with LNG markets starting to tighten earlier than expected, we have seen a number of offshore LNG projects seeking FIDs. Offshore infrastructure spending will rise ~40% through 2022e. We believe this will spur demand for offshore production units like FPSOs and FLNG – a key for Singapore yards and Korean E&C players. An improvement in day rates for jackup market should also help sales of existing unsold rigs.

Singapore: Sembcorp Marine is our top pick as we expect order wins to double for Singapore yards by 2019. SMM can leverage the up cycle as it wins new FPSO, FLNG and production-related unit orders. It can leverage its new yard capabilities and raise utilisation rates, which could lead to a sharp turnaround in earnings, multiples and orderbook. Expectations are low post 1H18 losses and limited new orders. We lower our price targets and earnings forecasts as we push new orders by six months.

China: Given that most Chinese oil companies are still conservatively budgeting capex in 2018, we believe capex will continue to increase in 2019-20, which should support a fundamental recovery in OFS names in 2019-20. We saw some improvement in 1H18 results and new order receipts. Honghua and SPT Energy are our top picks.

Korea: Higher capex (esp in MENA) should be supportive for Korean overseas contractors. We have seen a slight pickup in overseas orders vs.2017 (YTD: U$20.8bn), but we believe a jump should come in 2H18 and 2019. Our overseas new order forecast for 2018 is U$37.5bn,up 35% YoY.

Source : Morgan Stanley Research
(Read Report [32 pages]) (Kindly make a donation first to unlock this report. Email stockfanaticsmartinvestor@gmail.com for password.)

“If you like what we have delivered to you, kindly make a small contribution.”

“Your donations will help fund the continued development and growth of our projects.”

Research Reports : 20th September 2018

***Reports Highlights***
1) Stock To Watch 
LY Corporation Limited : Brightening bedrooms

2) Top pick for the day : Bitcoin

3) Stock To Watch
Thai Beverage Public Company : Lock-in of rates should allay concerns

4) Hongkong Land : Central offices in demand

5) Market Snapshot : Japan’s LDP leadership vote puts spotlight on Abenomics

6) Stock To Watch
Thai Beverage : Unlocking Opportunities in Vietnam and Thailand

7) Sheng Siong Group Ltd : A defensive story for the long haul

8) Trading Ideas
Singapore: Trade Idea Update - Take profit on pay 5y SGD IRS

9) Global Markets Daily : China Fires Back At Trump Tariffs

10) Stock To Watch
OUE Hospitality Trust : Too cheap to ignore

11) Trading Ideas
Quantitative Alerts (Singapore) : Active Stocks

12) First REIT : A new dawn

13) Singapore REITs Monthly - Monthly Tracker: September 2018

14) Singapore : External Headwinds Pose Serious Risk

15) Stock To Watch 
Valuetronics Holdings : Attractive Valuation; Expect Minimal Impact From The Flood At Danshui Plant

Read All Reports - Click Here

Research Reports : 19th September 2018

Shared By Stock Fanatic on Wednesday, September 19, 2018 | 19.9.18

***Reports Highlights***
1) Stock To Watch 
CapitaLand : Maiden venture into US multifamily properties

2) Sembcorp Industries : Spot power prices at 3-year high in India

3) Top pick for the day : Nasdaq 100

4) Stock To Watch
CapitaLand : An emerging landlord in the US multi-family asset class

5) Market Snapshot : Stocks shrug off deepening US-China trade tensions

6) Stock To Watch
CapitaLand : Venturing Into New Asset Class

7) Combine Will International Holdings Ltd : Diversification out of China

8) Trading Ideas
Quantitative Alerts (Singapore) : Active Stocks

9) Monthly Technical Regional Indices Watch : Indices Watch

10) Stock To Watch
CapitaLand : Acquisition Of US Multi-family Portfolio

Read All Reports - Click Here

Research Reports : 18th September 2018

Shared By Stock Fanatic on Tuesday, September 18, 2018 | 18.9.18

***Reports Highlights***
1) Sector To Watch 
Property Devt & Invt : Slower Aug sales

2) Top pick for the day : EURCAD

3) Singapore Economics Update : Aug 2018 trade

4) Model Portfolio monthly review : Performance improved month-on-month despite weak stock market

5) Stock To Watch
Sasseur REIT : Up up and away

6) Sector To Watch
Singapore Property : New launches to pick up after hungry ghost month

7) **Alert**
Market View Update : STI short-term support at 3100 - 3115 as US$200B T-Bomb detonates at a slower pace

8) Market Snapshot : Trump ramps up tariff pressure on China

9) FX Tactical - GBP/USD : Running into a likely divisive Tories Birmingham conference

10) Singapore Economics : Exports Holding Up, No Visible Impact from Trade War As Yet

11) NetLink Trust : Post-Initiation FAQ

12) Credit Market Watch : Summary for week ending 14-Sep

13) Regional Traders’ Almanac : FTSE ASEAN 40 Index: Upward Reversal

14) Global Markets Daily : More Storms Ahead On The Trade Front

15) Global Markets Daily : Awaiting China’s Response

16) SATS Ltd : Embracing technology and innovation

17)  GSS Energy : Maintain BUY On Catalysts; Moving Into E-Vehicles

18) Singapore Economics : August NODX Moderated To 5% YoY

19) Singapore Airlines : Virgin Australia's Exceptional Loss And A 40% ytd Rise In Jet Fuel In 2QFY19 Do Bode Well For Quarterly Earnings

Read All Reports - Click Here

Research Reports : 17th Septenber 2018

Shared By Stock Fanatic on Monday, September 17, 2018 | 17.9.18

***Reports Highlights***
1) Stock To Watch 
YHI International Ltd : The world is its market

2) Stock To Watch
ESR-REIT : Better together

3) Market Snapshot : The US, Asia start the week assessing storm damages

4) Strategy Weekly
Economics & Strategy Weekly : Notes from Shenzhen - Rerouting and restructuring

5) Chart Of  The Week
Chart of the Week : US inflation on a mild uptrend 

6) FX Tactical
FX Tactical - USD/CAD : A NAFTA “David and Goliath” scene hints at loonie weakness

7) Stock To Watch
ST Engineering : A Big LEAP

8) Singapore REITs : Checking In

9) Ascott Residence Trust : Diversity And Growth?

10) CDL Hospitality Trusts : Room For More

11) Far East Hospitality Trust : Rooms For Growth

12) Frasers Hospitality Trust : Building A Global Roster

13) Singapore Economics : Exports Holding Up, No Visible Impact from Trade War As Yet

14) Trading Ideas
Quantitative Alerts (Singapore): Active Stocks

15) DBS : NIM Widening Trend Intact

16) NetLink NBN Trust : The Ultimate Defensive Stock

17) Keppel Telecommunications & Transportation : Takeaways From KDC SG4 Site Visit

18) Rex International Holding : Turning Around; Targeting First Oil Production In 2H19

Read All Reports - Click Here

Research Reports : 14th September 2018

Shared By Stock Fanatic on Friday, September 14, 2018 | 14.9.18

***Reports Highlights***
1) Stock To Watch | High Conviction
ST Engineering : LEAP ahead

2) Sector Note | Overweight
Consumer Discretionary - Overall : CGS-CIMB’s Consumer Day wrap-up

3) Top pick for the day : Singapore’s STI

4) Stock To Watch | Research Call Alert
ST Engineering : Acquisition boosts growth trajectory

5) Stock To Watch | Research Call Alert
Model Portfolio Change : Add ST Engineering (S$3.29) to Blue Chip and Dividend categories

6) Flash Note
Singapore Office : HSBC to move into MBFC Tower 2

7) Market Snapshot : Trump is “under no pressure” to reach a deal with China

8) Macro | FX Research & Strategy
Global Markets Daily : Easing Trade Tensions Lifts AXJs

9) Trading Ideas
Quantitative Alerts (Singapore) : Active Stocks

10) Stock To Watch
ST Engineering : Undertakes largest acquisition to date

11) Singapore Residential Sector : Life's not a bed of roses

12) Stock To Watch
City Developments : Acquisition of Aldgate House, A Prime Freehold Grade A commerical building in London for £183m (S$328m)

13) Stock To Watch
ST Engineering : Acquisition Will Provide STE With A Critical Path To The Aircraft Manufacturing Supply Chain

14) Stocks For Action
Singapore Mid Cap Strategy : Safety First

Read All Reports - Click Here

Research Reports : 13th September 2018

Shared By Stock Fanatic on Thursday, September 13, 2018 | 13.9.18

***Reports Highlights***
1) NOT RATED (previously ADD)
Asian Pay Television Trust : Cessation of coverage

2) Stock To Watch
Singapore Press Holdings : Defensive investing in student housing

3) Agribusiness : Stocks continue to climb due to weak exports

4) Top pick for the day : Crude Palm Oil

5) Stock To Watch
CapitaLand Commercial Trust : HSBC extends lease for only one year

6) Regional Industry Focus
Plantation Companies : Stockpile up m-o-m

7) Market View Update
Singapore Straits Times Index : Temporary respite on the possibility of fresh US-China trade talks

8) Market Snapshot : Asia suffers longest sell-off in 16 years, but hope remains

9) Regional Plantations : Weak exports a concern

10) Trading Ideas
Quantitative Alerts (Singapore) : Active Stocks

11) Sector Update
SG Industrials : Stick with the winners

12) Stock To Watch
Singapore Press Holdings : Johnny Come Lately

13) Stock To Watch
CapitaLand Commercial Trust : HSBC extends Singapore lease for a year at S$27.7m

14) Sector Update
Malaysia Plantation : Aug 18 - Inventory Comes In Higher Than Market Expectations

Read All Reports - Click Here
 
Modified by : Stockfanatic
Copyright © 2008 - 2018. Singapore Stock Market News - All Rights Reserved
Template Created by Creating Website Published by Mas Template
Proudly powered by Blogger