Coverage: Singapore
Established in 1975, PhillipCapital has grown into an integrated Asian financial house with a global presence. PhillipCapital is headquartered in Singapore, operates in the financial hubs of 15 countries and serves over 1 million clients.
Location: Singapore


Latest from PhillipCapital

Hyphens Pharma International Ltd: Digital healthcare catalyst emerges

Raised $6mn for a 10% stake in Hyphens Pharma digital assets – DocMed Technology. DocMed Technology owns POM (B2B digital hypermart) and WellAway (Singapore’s first and only HSA registered e-pharmacy). Our DCF target price is raised from S$0.345 to S...
PhillipCapital Paul
Paul Chew @ PhillipCapital 6 June 2022

Silverlake Axis Ltd: New cloud driver and recovery in bank spending

Silverlake Axis Ltd provides customized software solutions and core banking systems. Launched in 2020, Silverlake’s MOBIUS cloud banking software allows banks to roll over new digital products in a targeted and timely manner. Stable recurring revenue...
PhillipCapital Glenn
Glenn Thum @ PhillipCapital 6 June 2022

UG Healthcare Corp: Below book value and earnings stable

3Q22 PATMI fell 69% YoY to S$10.7mn. UGHC can ramp up its trading business to take advantage of these weak prices. Our BUY recommendation and FY22e earnings forecast are unchanged. We find valuations attractive. New capacity is earmarked for latex gl...
PhillipCapital Paul
Paul Chew @ PhillipCapital 19 May 2022

Singapore Banking Monthly: Interest rates continue to rise in April

1Q22 results, banks’ NII and NIM remained stable despite healthy loans growth while fee income fell across the board in 1Q22. Malaysia’s domestic loans growth increased 4.56% YoY in March and 0.58% MoM in March. We remain positive on banks. SGX is an...
PhillipCapital Glenn
Glenn Thum @ PhillipCapital 12 May 2022

Sheng Siong Group Ltd: Reopening minus and inflation plus

1Q22 revenue/PATMI was within expectations at 28%/31% of our forecast. Margins continue to climb. Our BUY recommendation and target price of S$1.75 are unchanged. A possible implication of rising inflation is consumers downgrading to home dining or s...
PhillipCapital Paul
Paul Chew @ PhillipCapital 29 April 2022

Frasers Centrepoint Trust: Suburban malls continue to outperform

1H22 DPU of 6.136 Scts (+2.3% YoY) was in line and formed 48% of our FY22e forecast. Revenue grew 1.5% YoY on full contribution of ARF acquisition while NPI margin improved YoY from 72.4% to 74.1% due to decrease in property expenses and lower doubtf...
PhillipCapital Natalie Ong
Natalie Ong Pei Fong @ PhillipCapital 29 April 2022