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Posts Tagged ‘DMG’

Goodpack cut to Neutral by DMG; $1.82 target

August 30th, 2010 | No Comments

DMG downgrades Goodpack (G05.SG) to Neutral from Buy as stock has breached its $1.82 target price after 30% run-up in last 3 months, says Dow Jones.

DMG trims FY11 earnings forecast by 2.0% to US$37 million ($50 million) to factor in rising staff costs. Notes supplier of intermediate bulk containers aggressively hiring in bid to speed up expansion in automotive industry, increase presence in Asian markets. But adds, move positive in long run, “two of the countries in focus are China and Japan, where Goodpack has little presence.”

Shares +2.1% at $1.93.

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Sembcorp Industries rated ‘buy’ by DMG

August 27th, 2010 | No Comments

DMG & Partners Securities in an Aug 26 research report says: “Sembcorp Industries (SCI) has signed a 20-year long term utilities services agreement with Jurong Aromatics Corporation (JAC) to supply steam and other water and wastewater treatment services to its new aromatics complex.

Sembcorp +2.2%; Middle-term utilities growth: DMG

August 26th, 2010 | No Comments

Sembcorp Industries (U96.SG) +2.2% at $4.18 as utilities business expansion drives interest, according to Dow Jones.

Company has sealed 20-year contract to supply steam, water treatment services to support Jurong Aromatics Corp’s upcoming aromatics complex in Singapore’s Jurong Island.

Healthway Medical rated ‘buy’ by DMG

August 24th, 2010 | No Comments

DMG & Partners Securities in an Aug 24 research report says: “Healthway recorded a dismal 2Q10 net profit ($0.1m, -97.2% y-o-y), dragged down by start-up costs of its new medical centres and lower-than-expected patient load of its new specialists.

CNA Group rated ‘neutral’ by DMG

August 24th, 2010 | No Comments

DMG & Partners Securities in an Aug 23 research report says: “2Q10 earnings was down 14% y-o-y, on the back of lower revenue (down 26.5% y-o-y) and higher expenses. However, we note that 1H10 earnings was up 22.3% y-o-y.

Adampak rated ‘buy’ by DMG

August 24th, 2010 | No Comments

DMG & Partners Securities in an Aug 23 research report says: “Adampak announced 2Q10 revenue of US$15.4 million (+16.5% y-o-y, -0.4% q-o-q) while net profit came in at US$2.3 million (+60.2% y-o-y, +2.8% q-o-q) mainly attributed to the higher demand for labels stemming from HDDs.

Healthway Medical target cut to $0.23 by DMG

August 23rd, 2010 | No Comments

DMG cuts Healthway Medical (5NG.SG) target price to $0.23 from $0.30 after slashing FY10 earnings estimate to $4.7 million from $16.0 million to reflect weak 2Q10 results, higher-than-expected start-up costs, says Dow Jones.

DMG notes healthcare group actively expanding in China, with plans to operate 20 medical centres there by year end after recently securing contracts to manage 12. Keeps Buy call.

Midas Holdings rated ‘buy’ by DMG

August 20th, 2010 | No Comments

DMG & Partners Securities in an Aug 19 research report says: “Midas Holdings revealed 2Q10 numbers that were inline with our expectations. With the company set to boost its maximum production capacity for its Aluminium Alloy (AA) extrusion lines by 1.5 times to 50k tonnes while its downstream fabrication capacity is forecasted to increase from the current 300 trains cars to 1,000 per annum by end-2010, we therefore are maintaining our positive view on the company.

Kingsmen Creative rated ‘buy’ by DMG

August 20th, 2010 | No Comments

DMG & Partners Securities in an Aug 19 research report says: “Net profit for 2Q10 grew 30.2% y-o-y (+101.3% q-o-q) to $4.6 million, on the back of a 21.9% y-o-y (+38.5% q-o-q) growth in revenue to $64.6 million. With 2H traditionally stronger than 1H, we can expect a better 2H10.

Tiger Airways target lowered to $2.13 by DMG

August 20th, 2010 | No Comments

DMG cuts Target Airways (J7X.SG) target price to $2.13 from $2.45 after lowering P/E multiple to 16.5x from 18.0x FY11 earnings to account for negative sentiment arising from carrier’s pilot shortage, according to Dow Jones.

DMG notes 20 of its pilots poached by other airlines since June, causing it to cancel 10 flights over past four days.

Lowers FY11-12 EPS estimates by 3.7%-3.0% to reflect higher staff costs associated with aggressive hiring.

Still, keeps Buy call on view fundamentals remain sound. Shares off 0.5% at $1.91.

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Sound Global +2.7%; HK listing likely certain: DMG

August 17th, 2010 | No Comments

Sound Global (E6E.SG) +2.7% at $0.76 as company’s decision to revive HK dual listing plan supportive, says Dow Jones.

Shares down 12.9% since China-based water treatment firm announced postponement of original plan on June 25; may retrace decline even more if exercise goes through as valuations expected to improve with HK exposure.

Ying Li downgraded to Sell by DMG with $0.33 target

August 17th, 2010 | No Comments

DMG downgrades Ying Li International (5DM.SG) to Sell from Neutral, cuts target price to $0.33 from $0.42 based on 50% discount to RNAV estimate, says Dow Jones.

“We think Ying Li’s uncertain earnings visibility will cap share price upside,” says DMG.

Sino Grandness target price raised to $0.50 by DMG

August 17th, 2010 | No Comments

DMG & Partners has raised its target price for Singapore-listed Sino Grandness Food Industry to $0.50 (US$0.37) from $0.40 and maintained its “buy” rating.

Sino Grandness produces canned food and juices.

DMG has raised its earnings per share forecast by 8% to 8.4 cents after the firm reported better-than-expected revenue and gross margin for its beverage business in the first half of the year.

HTL International downgraded to Neutral by DMG

August 13th, 2010 | No Comments

DMG downgrades HTL International (H64.SG) to Neutral from Buy; but lifts target price to $0.73 from $0.70 after rolling over valuation to blended FY10-11 8x P/E from 8x FY10 P/E, says Dow Jones.

DMG says while 2H tends to be seasonally stronger period for leather sofa maker, rising freight rates and raw leather hide prices likely to weigh on earnings.

Research house expects 2H10 core net profit to be comparable to $18.6 million achieved in 1H10. Shares off 2.7% at $0.73.

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Fuxing China Group rated ‘buy’ by DMG

August 12th, 2010 | No Comments

DMG & Partners Securities in an Aug 11 research report says: “Fuxing China unveiled 2Q10 numbers that exceeded our forecasts as net earnings surpassed our estimate by 10.4%. Fuxing China reported that its 2Q10 revenue arrived at RMB204.3 million (+69.0% y-o-y, +89.1% q-o-q) while net profit was RMB14.9 million (+206% y-o-y, +35.6% q-o-q) on higher order flows from customers.

Fuxing China started at Buy by DMG with $0.255 target

August 10th, 2010 | No Comments

DMG starts Fuxing China Group (DC9.SG) at Buy with $0.255 target price, based on 6.0x P/E. Says zipper maker severely undervalued with stock trading at 5.3% discount to net cash position, despite stronger balance sheet vs industry average, says Dow Jones.

Bullish on outlook as China seeks to increase consumers’ purchasing power, while company rolls out more initiatives to boost earnings, including boosting R&D to raise margins. Notes China’s zipper market highly fragmented with more than 2,000 local players.

Renewable Energy Asia Group rated ‘buy’ by DMG

August 10th, 2010 | No Comments

DMG & Partners Securities in an Aug 6 research report says: “Following a major restructuring in the last year, Renewable Energy Asia Group (REAG) â€“ formerly known as Superior Fastening Technology â€“ has realigned its business towards 1) manufacturing of wind turbine components, 2) Engineering, Procurement and Construction (EPC) of wind farms, and 3) wind farm investments, as it seeks to ride on the expected strong growth of Chinaâ€™s wind energy sector in the next decade.

Hi-P upgraded to Buy by DMG, raised target to $0.97

August 5th, 2010 | No Comments

DMG upgrades Hi-P (H17.SG) to Buy from Neutral, lifts target price to $0.97 from $0.595 after increasing FY10-11 earnings forecasts by 19.5%-25.0% to assume stronger business, says Dow Jones.

DMG notes contract electronics manufacturer counts Research In Motion, Apple as key clients. Says 2Q10 earnings of $12.4 million, vs $14.2 million loss in 1Q10, above market expectations.

Consciencefood +38.6%; Big market potential: DMG

August 5th, 2010 | No Comments

Consciencefood Holding (L1D.SG) in high demand on SGX debut, last at $0.305 vs $0.22 IPO price, off early high of $0.35, says Dow Jones.

Shares most active in market, benefiting from recent keen interest in new listings. Orderbook quotes suggest price may still head above $0.35.

Marco Polo Marine rated ‘buy’ by DMG

August 4th, 2010 | No Comments

DMG & Partners Securities in an Aug 3 research report says: :Marco Polo Marineâ€™s (MPM) wholly owned subsidiary, PT Marcopolo Shipyard, has entered into four vessel building contracts with an Indonesian entity to build four units of barges to be leased to the 50/50 JV between MPM/Glencore â€“ Alpine Marine (AML) at an aggregate contract value of $8.9 million.