Research reports and recommendation by Maybank Kim Eng released last week (15-May-2015).
1Q core below on lower-than-expected CPO ASPs & FFB production & associate losses. Expect strong FFB output in 2H15. Cut EPS by 4-7% for Indonesia’s new export ...
OVERSEAS EDU: Buy - TP $1.23. Action in second semester
1Q15 EPS at 23% of our FY15E, in line. Expect quiet 2Q. Action in Aug 2015 when new campus opens. Maintain BUY with catalysts from higher tuition fees and ...
CITY DEVT LTD: Buy - TP $11.40. Watch for deals to unlock value
1Q15 net slightly below at 13% of FY15E. Broad-based sales growth. No change to EPS for now. Efforts to develop fund management could unlock value. Maintain BUY ...
EZION HOLDINGS: Buy - TP $1.57. Rate stability no mean feat
1Q15 missed on weak offshore logistics. Cut EPS by 14-19% to minimise forecast risks. Lower TP from SGD1.83 to SGD1.57, still on 9x FY15 P/E. Stronger optimism ...
MIDAS: Buy - TP $0.49. Laggard in China’s rail sector
1Q15 below on higher costs, lower associate contributions. Cut EPS by 27-38% for slower ramp-up of new plant & lower NPRT contributions. Still a laggard in ...
CWT LIMITED: Buy - TP $2.18. Still undervalued gem
1Q15 below on slowdown in trade services, translation losses & start-up costs Cut EPS by 7-9% for lower volatile commodity trading. Maintain BUY with higher ...
PACIFIC RADIANCE: Buy - TP $1.00. Sees sustainable margins
1Q15 missed on weak utilisation & lower JV/associate contributions. Cut FY15-17 EPS by 9-44%. Guides for sustained GPM & 2H15 recovery. Maintain BUY with ...
SIIC ENVIRONMENT: Buy - TP $0.26. Stronger quarters to come
1Q15 in line. Better water-treatment revenue. Expect stronger quarters & strong M&A momentum. Maintain BUY with above catalysts & higher TP of SGD0.26 from ...
INNOVALUES: Buy - TP $1.00. More legs of growth
1Q15 above, at 27% of FY15E. Combination of faster sales growth, better margins. Margins could grow further, providing catalysts. Raise EPS by 13-14% for this. ...
Source: http://www.maybank-ke.com.sg/
