Recent Reports

  • shopper360 Limited: The key to win consumers’ dollars

    Soh Lin Sin | Phillip Securities Research Pte Ltd | Jun 13, 2018
    • Contracts from new and existing clients, and expanded media portfolio would drive FY19e earnings; Expect Core earnings to grow at 20% p.a. in FY18-19e
    • First mover advantage in Southeast Asia’s final frontier via strategic partnership with Myanmar’s leading modern retail chain
    • Initiate with Trading Buy and TP of S$0.33; Undemanding valuations with adjusted trailing-PE of 5.8x, vs global peers’ 13.0x
  • XLF: Strong support at $26.76, keeping the uptrend intact

    Jeremy Ng | Phillip Securities Research Pte Ltd | Jun 11, 2018
    • With another interest rate hike upon us, we expect the US bank stocks to perform well as the Net Interest Margins (NIMs) continue to expand.
    • The Fed will commence their two-day meeting on 12 June.
    • Based on the Fed Fund Futures, there is a 100% probability of a 0.25% interest rate hike, and that will lift the Fed Funds Rate (FFR) from 1.75% to 2.00%.
  • ComfortDelGro Corp Ltd: Demand for Taxis is returning

    Richard Leow | Phillip Securities Research Pte Ltd | Jun 8, 2018
    • The worst appears to be over for Taxi business, signalled by growth in bookings and capex for new hybrid taxis
    • Termination of strategic agreement with Uber’s LCR
    • Outlook for Rail is positive, with narrowing of DTL losses driven by ridership growth
    • Maintain Accumulate; higher target price of $2.69 (previously $2.48)
  • Singapore Coal Monthly: More cooling attempts from China

    Chen Guangzhi | Phillip Securities Research Pte Ltd | Jun 7, 2018
    • National Development and Reform Commission announced new measures to curb coal price
    • Coal price resumed upward momentum
    • Restriction on seaborne coal may relax
  • Geo Energy Resources Ltd: Looking forward to a good deal

    Chen Guangzhi | Phillip Securities Research Pte Ltd | Jun 5, 2018
    • 11mn tonnes of production target is on track
    • Cash cost will jump this year
    • Remain upbeat on any near-term acquisition
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