2Q17: On track for better 2H17F
■ 2Q17 core net profit of US$1.9m was within expectations; 2H17 would be stronger.
■ Growth in both AU and CE segments underpinned its turnaround from 2Q16’s loss of US$1.5m and better qoq performance.
■ No change to our FY17-19 forecasts and S$1.16 target price. Reiterate Add.
Cityneon Holdings (CITN SP)
Reject Offer; Too Deep Of A Discount To Target Price
Cityneon’s board of directors dispatched the mandatory unconditional general cash offer document for all shares of Cityneon at S$0.90/share today. We recommend that minority shareholders reject the offer as it is at a deep discount to our target price of S$1.28. Maintain BUY with SOTP-based target price of S$1.28.
Centurion Corporation Limited
Stellar Performance Continues
SINGAPORE | REAL ESTATE | 2Q17 RESULTS
2Q17 total profit of SGD11.6mn exceeded our estimates by 5.5%.
Newly acquired UK assets, higher occupancy at ASPRI-Westlite Papan and Westlite Malaysia portfolio contributed to stronger revenue growth.
Maintain Accumulate rating with higher target price of S$0.59, previously S$0.48 based on DCF model.
|OCBC||MAYBANK KIM ENG|
Wilmar: A mixed set of results
Valuetronics (VALUE SP)
Getting Back Its Groove
Back to growth with new products
VALUE leverages its strong design capabilities and manufacturing flexibility to provide electronic manufacturing services (EMS) solutions for varying complexities and product mixes. In the past three quarters, revenue swung back to YoY growth from declines caused by its exit from an increasingly commoditised LED consumer-lighting space. New products like wireless smart bulbs and growth in-vehicle wireless modules have been instrumental in its turnaround.
Check out our compilation of Target Prices