Refine by sector
Latest in Singapore

SG : SEA Ltd - Scaling SeaMoney in Singapore

Riding on ecosystem synergies, we expect SE’s digital bank in Singapore to reach the initial regulatory deposit cap rapidly with minimal acquisition costs. Similarly, Shopee’s vast customer and merchant base allows SeaMoney to easily cross-sell its.....
CGS-CIMB Khangchuen
Khangchuen Ong @ CGS-CIMB 22 March 2023

SG : Banks - Addressing AT1s

Following the reported regulatory action effecting the takeover of Credit Suisse (CS) by UBS, we seek to address key questions on investors’ minds. We highlight that the write-off/conversion of CS’s AT1 securities are idiosyncratic and do not repre....
CGS-CIMB Andrea
Andrea Choong @ CGS-CIMB 21 March 2023

SG : China Yuchai International - Revving up for a better FY23F

FY22 net profit of Rmb219m (-20% yoy) was in line with expectations. Weak topline was cushioned by margin expansion. We believe tailwinds are in place for a cyclical rebound with China’s Covid-policy pivot and potential stimulus measures to support.....
CGS-CIMB Khangchuen
Khangchuen Ong @ CGS-CIMB 13 March 2023

SG : Hong Leong Asia - Revving up for a better FY23F

FY22 core PATMI of S$44m (-11% yoy) disappointed on weaker building materials margins, while Yuchai was hurt by Covid-impacts in China. Tailwinds are in place for a cyclical rebound for Yuchai in FY23F, in our view. We are also cautiously optimistic....
CGS-CIMB Khangchuen
Khangchuen Ong @ CGS-CIMB 13 March 2023

SG : Strategy - Stay nimble

CGS-CIMB Munyee
Munyee Lock @ CGS-CIMB 10 March 2023

SG : Q&M Dental Group - Seeking efficient organic growth in FY23F

4Q22 core net profit of S$2.9m brings FY22 net profit to S$16.5m, below expectations at 90.0% of our estimates, on narrower net profit margin. Weaker profitability was a result of declining contribution from Covid-19 testing, and gestation losses f....
CGS-CIMB Kenneth
Kenneth TAN @ CGS-CIMB 8 March 2023