My interview with ZaoBao on 18th Nov :
SGX
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OCBC
DBS
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Brent stabilizes below $81 per barrel after two-day swing as countdown to OPEC+ commences
OpenAI shakeup has sent shockwaves through Silicon Valley, raising concerns among tech enthusiasts about future of AI
Alibaba plunged by $21b in market value after suspending cloud unit IPO and Jack Ma’s intention to sell shares
Singapore Property
Watten draws in the crowd
UOL-SingLand’s 180-unit Watten House was 57% sold at launch at c.S$3,230 psf on average
Buyers increasingly selective on property launches but remain well-capitalised to pull the trigger
What made the Watten House project well-received?
Thai Beverage (THBEV SP)
Load up before price
increase
Valuation unjustifiably low, near -2SD of 15-year historical forward PE low, despite consistent earnings growth
Resilient spirits segment offsets weak Vietnam beer
Gearing continues to taper on strong cash flow, well-managed debt profile with THB-denominated debentures
What are the three key reasons to buy ThaiBev?
Mapletree Industrial Trust (MINT SP)
A credit positive outcome
Leases of six out of eight data-centers to be assumed by Brookfield Infrastructure Partners post sale of Cyxtera
Limited <1% impact for remaining leases of two data-centers which will see amendments (or potential downside) to lease terms
MINT to emerge with a tenant base of stronger credit profiles
What is our target price on this stock?
Sabana REIT (SSREIT SP)
Legal action against master-tenant for rent arrears
Originating claim against Kleio One-Solution; master-tenant at 33 & 35 Penjuru Lane
Seeking a sum of c.S$2.1m for unpaid rents, taxes, and late payment; security deposits likely to have been exhausted before this
Court proceedings and backfilling with a suitable tenant could be a long-drawn affair, implying an extended downtime in rental income for the property; potential DPU downside of 6.5% - 7.5%
What is our recommendation for this stock?
Lenovo Group (992 HK)
Services is the key
Net profit fell by 54% y-o-y due to persistently weak PC and server business demand
Earnings drop is 10% narrower than expected due to margin recovery after PC inventory de-stocking
Cut earnings forecast in FY3/24F and FY3/25F by 18% and 24% to factor in the slower PC and server recovery
Do we expect PC shipments to resume growth?
Singapore Equity Picks: Read more
Hong Kong Equity Picks: Read more
UOB
UOBKH: Country Dailies: Monday, November 20, 2023
Click on the link for Greater China Daily.
Click on the link for Indonesia Daily.
Click on the link for Malaysia Daily.
Click on the link for Singapore Daily.
Click on the link for Thailand Daily.
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UOBKH: Retail Market Monitor: Monday, November 20, 2023
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UOBKH: Regional Morning Meeting Notes: Monday, November 20, 2023 [GC Property, 388 HK, ID Automobile, CDB MK, GREATEC MK, SMELT MK, SFPTECH MK, SG REITs, OR TB]
KGI
TRADING IDEAS: 🇸🇬 SINGAPORE
20 November 2023
(Updated)
🏙 Centurion Corp Ltd (CENT SP): Early signs of a re-rating catalyst
BUY Entry 0.40 – Target – 0.44 Stop Loss – 0.38
🏢 China Aviation Oil Singapore Corp. Ltd. (CAO SP): Tailwinds from China-US summits
BUY Entry 0.85 – Target – 0.91 Stop Loss – 0.82
➡️ Read More: https://www.kgieworld.sg/research/nov20sg23
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Technical Analysis: 20 November 2023
🇸🇬 SG
Centurion Corp. (CENT SP)
ST Engineering Ltd. (STE SP)
🇭🇰 HK
Fuyao Glass Industry Group Co Ltd (3606 HK)
ASMPT Ltd (522 HK)
Read More: https://www.kgieworld.sg/research/nov20ta23
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Top Stories, 20 Nov 2023
1. S&P 500 ends Friday slightly higher, major averages cruise to third week of gains: Live updates
2. Introducing HKEX Options on Futures Contracts (OOF) on on Hang Seng Index Futures and Hang Seng China Enterprises Index Futures. The new OOF will offer investors the opportunity to take a futures position on HKEX’s markets prior to the settlement of the underlying futures contract.
Find out more: https://www.kgieworld.sg/research/hkex-oof
3. US says still pushing for Israel-Hamas deal after reported breakthrough
4. Russia, Iran Oil Sanction Talk Returns Amid Weaker Prices
5. China launches new data agency as ambitions in AI and digital economy soar
6. Gold Price Forecast: XAU/USD attracts some sellers below $1,980, FOMC Meeting Minutues eyed
CIMB
Please refer to below for the technical charts of the day.
SIN
Adding on to the strong bullish sentiment
V-shaped bottom
HKG
Uptrend is set
Bullish break signal early upside
MAL
Next wave up?
At a new 8-month high
APAC+US
Lim&Tan
MayBank
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