APAC REALTY LIMITED (SGX:CLN)
CHINA AVIATION OIL(S) CORP LTD (SGX:G92)
CSE GLOBAL LTD (SGX:544)
DELFI LIMITED (SGX:P34)
EC WORLD REIT (SGX:BWCU)
FRENCKEN GROUP LIMITED (SGX:E28)
FU YU CORPORATION LTD (SGX:F13)
HONG LEONG FINANCE LIMITED (SGX:S41)
HRNETGROUP LIMITED (SGX:CHZ)
HYPHENS PHARMA INTL LIMITED (SGX:1J5)
JUMBO GROUP LIMITED (SGX:42R)
MEMTECH INTERNATIONAL LTD (SGX:BOL)
OXLEY HOLDINGS LIMITED (SGX:5UX)
RIVERSTONE HOLDINGS LIMITED (SGX:AP4)
SHENG SIONG GROUP LTD (SGX:OV8)
SILVERLAKE AXIS LTD (SGX:5CP)
STARHILL GLOBAL REIT (SGX:P40U)
UG HEALTHCARE CORPORATION LTD (SGX:41A)
UNUSUAL LIMITED (SGX:1D1)
VIVIDTHREE HOLDINGS LTD. (SGX:OMK)
RHB 20 Jewels 2019 Edition - Top Singapore Small Cap Companies
- This year, technology and manufacturing names make up the bulk of our top 20 picks as we believe these sectors have overcorrected due to trade war tensions in 2018. With an impending trade deal between the US and China, we think some of these stocks that are trading at significantly low valuations could potentially rerate both in terms of earnings and P/E multiples.
- While other companies featured in this edition may vary in terms of business, market capitalisation, and investor interest, they share a common DNA – they are fundamentally sound companies with a high probability of making good returns for investors. We hope to eventually see these companies graduate into mid-sized corporates or even large caps in the not-too-distant future.
20 Jewels - Top Singapore Small Cap Companies At A Glance
| Company | TP | Mkt Cap | P/E (x) | P/B (x) | Div Yield (%) | ROE (%) | ||||
|---|---|---|---|---|---|---|---|---|---|---|
| (SGD) | (SGDm) | FY18 | FY19F | FY18 | FY19F | FY18 | FY19F | FY18 | FY19F | |
| APAC REALTY LIMITED (SGX:CLN) | 0.72 | 211 | 8.4 | 8.8 | 1.4 | 1.3 | 7.9 | 6.9 | 17.6 | 15.7 |
| CHINA AVIATION OIL(S) CORP LTD (SGX:G92) | 1.6 | 1,099 | 8.6 | 8.3 | 1.1 | 1 | 3.5 | 3.6 | 12.6 | 12.1 |
| CSE GLOBAL LTD (SGX:544) | 0.61 | 274 | 13.8 | 12.1 | 1.6 | 1.5 | 5.1 | 5.1 | 11.7 | 12.6 |
| DELFI LIMITED (SGX:P34) | 1.68 | 886 | 28.5 | 24.1 | 3.2 | 3 | 1.8 | 2.3 | 11.2 | 12.5 |
| EC WORLD REIT (SGX:BWCU) | 0.84 | 608 | 12.7 | 9 | 0.9 | 0.9 | 8.2 | 8.4 | 5.9 | 6.9 |
| FRENCKEN GROUP LIMITED (SGX:E28) | N/A | 230 | 6.8 | N/A | 0.9 | N/A | 3.9 | N/A | 11.5 | N/A |
| FU YU CORPORATION LTD (SGX:F13) | 0.24 | 151 | 12.7 | 11.2 | 0.9 | 0.9 | 8 | 8 | 7.2 | 8.1 |
| HONG LEONG FINANCE LIMITED (SGX:S41) | N/A | 1,215 | 10.2 | N/A | 0.6 | N/A | 5.5 | N/A | 6.5 | N/A |
| HRNETGROUP LIMITED (SGX:CHZ) | 1.06 | 774 | 16 | 14.8 | 2.3 | 2.1 | 3.7 | 3.4 | 14.5 | 14.4 |
| HYPHENS PHARMA INTL LIMITED (SGX:1J5) | N/A | 60 | 8.2 | N/A | 1.5 | N/A | 2.8 | N/A | 13.8 | N/A |
| JUMBO GROUP LIMITED (SGX:42R) | N/A | 256 | 23.3 | N/A | 3.9 | N/A | 3 | N/A | 16.9 | N/A |
| MEMTECH INTERNATIONAL LTD (SGX:BOL) | N/A | 134 | 10.6 | N/A | 0.8 | N/A | 3.1 | N/A | 7.7 | N/A |
| OXLEY HOLDINGS LIMITED (SGX:5UX) | N/A | 1,298 | 4.3 | N/A | 0.9 | N/A | 4.8 | N/A | 19.9 | N/A |
| RIVERSTONE HOLDINGS LIMITED (SGX:AP4) | N/A | 815 | 18.8 | N/A | 3.5 | N/A | 2.1 | N/A | 19.3 | N/A |
| SHENG SIONG GROUP LTD (SGX:OV8) | 1.25 | 1,579 | 22.3 | 19.9 | 5.4 | 5.1 | 3.2 | 3.6 | 24.3 | 25.2 |
| SILVERLAKE AXIS LTD (SGX:5CP) | 0.65 | 1,468 | 31.7 | 19.5 | 8.2 | 7.5 | 5.6 | 5.5 | 25.6 | 38.7 |
| STARHILL GLOBAL REIT (SGX:P40U) | 0.78 | 1,100 | 17.9 | 10.5 | 0.8 | 0.7 | 6.6 | 6.9 | 4.2 | 7.1 |
| UG HEALTHCARE CORPORATION LTD (SGX:41A) | 0.32 | 36 | 8.2 | 8 | 0.8 | 0.8 | 1.3 | 1.5 | 11 | 10.2 |
| UNUSUAL LIMITED (SGX:1D1) | N/A | 340 | 31.6 | N/A | 8 | N/A | 0 | N/A | 25.2 | N/A |
| VIVIDTHREE HOLDINGS LTD. (SGX:OMK) | N/A | 58 | 21.6 | N/A | 6.9 | N/A | N/A | N/A | 32.2 | N/A |
20 Jewels 2019 Edition
- APAC REALTY LIMITED (SGX:CLN) - Flurry Of New Launches To Keep Agents Busy.
- CHINA AVIATION OIL(S) CORP LTD (SGX:G92) - Proxy To Growth In Chinese Aviation Sector.
- CSE GLOBAL LTD (SGX:544) - Power Up For 2019.
- DELFI LIMITED (SGX:P34) - Proxy To Indonesia’s Rising Middle Class.
- EC WORLD REIT (SGX:BWCU) - Proxy To China’s E-Commerce Growth.
- FRENCKEN GROUP LIMITED (SGX:E28) - Potential Venture In The Making.
- FU YU CORPORATION LTD (SGX:F13) - Bags Of Cash.
- HONG LEONG FINANCE LIMITED (SGX:S41) - NIMs Seen To Widen.
- HRNETGROUP LIMITED (SGX:CHZ) - Branching Out Regionally.
- HYPHENS PHARMA INTL LIMITED (SGX:1J5) - An Undervalued Pharmaceutical And Consumer Healthcare Group.
- JUMBO GROUP LIMITED (SGX:42R) - Earnings have bottomed out.
- MEMTECH INTERNATIONAL LTD (SGX:BOL) - Undervalued Proxy To Trade-War Recovery.
- OXLEY HOLDINGS LIMITED (SGX:5UX) - Misconception Over Debt Repayment Abilities.
- RIVERSTONE HOLDINGS LIMITED (SGX:AP4) - Capacity Increase a Key Positive.
- SHENG SIONG GROUP LTD (SGX:OV8) - Buy On Dips.
- SILVERLAKE AXIS LTD (SGX:5CP) - Riding The Banks Capex Wave.
- STARHILL GLOBAL REIT (SGX:P40U) - On a Turnaround Path.
- UG HEALTHCARE CORPORATION LTD (SGX:41A) - Driven By Rising Output.
- UNUSUAL LIMITED (SGX:1D1) - The Next Big Thing.
- VIVIDTHREE HOLDINGS LTD. (SGX:OMK) - Venturing Into Reality.
See attached PDF report for investment merits and highlights of the 20 companies.
Jarick Seet
RHB Securities Research
|
Shekhar Jaiswal
RHB Invest
|
Lee Seng Choon CFA
RHB Invest
|
https://www.rhbinvest.com.sg/
2019-05-07
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Analyst Report
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