Singapore - Market Strategy 01 (Nov 14 - Dec 25)

[behappyalways]

Delistings drag on Singapore's recovering IPO market
https://sbr.com.sg/markets-investing/in ... ipo-market

[winston]

Alpha Picks: Outperformed In 3Q19; Add Yangzijang

While the FSSTI retreated 6.1% in 3Q19, our alpha picks gained 2.0% in the quarter, led by our small/mid-cap picks (Fu Yu: +11.5%, Koufu: +5.8%) and our short call on SATS (-11.2%).

For September, our portfolio rose 0.9% mom, surpassing the FSSTI’s gain of 0.4% mom; notable outperformers for the month were Fu Yu and CDREIT.

For October, we add Yangzijiang as we believe the recent share price weakness is unwarranted and it is currently trading at an inexpensive valuation of 0.56x 2019F P/B.

Source: UOBKH

https://research.uobkayhian.com/content ... b1b953ef9a

[behappyalways]

6 attractive small and mid cap stocks that KGI believes yield hunters should watch out for
http://www.theedgesingapore.com/capital ... ers-should

[behappyalways]

Some SGX-listed companies to watch as Hong Kong unrest escalates
https://www.theedgesingapore.com/capita ... -escalates

[behappyalways]

SGX enhances securities borrowing and lending programme, introduces variable rates
https://www.theedgesingapore.com/news/m ... able-rates

[behappyalways]

Small-cap stocks to gain ground over privatisation surge
https://sbr.com.sg/stocks/news/small-ca ... tion-surge

[winston]

Dec 19 wrap-up: Singapore in 5

FSSTI up by 0.91% mom in a low-activity month. “Phase one” US-China trade deal reached. Tepid 4Q and FY19 GDP growth.

FSSTI target for CY20 remains at 3,275 pts, based on 12.5x CY21F P/E.

Top picks unchanged: CAPL, DBS, FCT, SIE, STE, THBEV, WIL, YZJ, AEM, BOCS, CSE, JAP and PROP

Source: CIMB

https://rfs.cgs-cimb.com/api/download?f ... A98565D141

[winston]

Keeping An Eye Out For Bargains

Our base-case view is that the 2019 novel coronavirus (nCoV) will likely peter out by mid-year.

We point out that medical experts have indicated that the mortality rate for this strain of virus is less lethal than SARS (2003), H1N1 (2009) and MERS (2015) but infection rates have been relatively high.

Given the STI’s 4% decline since 20 Jan 20, we identify stocks that are: c.10% away from their 52-week lows, trading at -1SD or below their historical 5-year PE and P/B valuations, and have a >4% 2020 yield.

Source: UOBKH

https://research.uobkayhian.com/content ... 18b8a4ddca

[behappyalways]

Hyflux, Trek 2000 among dozens of listcos ordered to perform quarterly reporting by SGX RegCo
https://www.theedgesingapore.com/news/r ... orting-sgx

[winston]

Singapore Strategy
Do it right the second time

Singapore further extended its Covid-19 circuit breaker period by four weeks to 1 Jun. Only the ‘most’ critical essential services will remain open.

Extension of the circuit breaker period could further dampen the economy; our economist revised her 2020 GDP growth forecast from -2.6% to -6.8%.

Our end-CY20F FSSTI target of 2,050 remains, still based on 9.5x CY21F market P/E, 20% downside from the current 2,554 pts.

Source: CIMB

https://rfs.cgs-cimb.com/api/download?f ... 1E9F01789E