Equation Corp Limited
Equation Corp Limited - Almost ripe for harvesting
Yeak Chee Keong
-
Thu, 29 July 2010
We met up with management following the signing of contract between Equation and the Media-Saturn group to implement the DiSa Anti-Theft System ("DiSa") throughout their 375 stores in Germany. Our confidence in the prospects of DiSa was reinforced and we expect to see contribution from 2HFY6/11.
First Reit
First REIT - First Class 2Q10 Results (Update)
Moh Tze Yang
-
Tue, 27 July 2010
First REIT announced its financial year 2010 second quarter results on 26th July 2010. We maintain our Increase Exposure rating on the Company.
Petra Foods Limited
Petra Foods Limited - Business Recovered, So Did Valuation (Initiation)
Liu Jinshu
-
Thu, 22 July 2010
Petra Foods Limited (PETRA)'s Europe cocoa ingredients processing business turned in a positive EBITDA in 1Q FY10, after six consecutive quarters of losses. We expect this unit to show higher profitability as it secures more qualifications for premium products. That said, we believe this counter is fairly valued.
Fuxing China Group Limited
Fuxing China Group - Zipping Up (Initiating Coverage)
Jacky Lee
-
Fri, 16 July 2010
Initiate coverage with Strong Buy recommendation. We view Fuxing China Group (Fuxing) to be attractive given it is currently trading below net cash per share of S$0.16, compared to its peers with an average 11x forecast PER and 1.7x PBR. We peg Fuxing's fair value at 11x FY11 PER, the higher range of its 3-year rolling forward price, or S$0.28, and this translates into 1x PBR. Our 40% dividend payout ratio projection also implies an attractive yield of 6-9% for year 2010 to 2012.
Kian Ann Engineering Ltd
Kian Ann Engineering - Steady as Heavy Machinery (Update)
Ng Kian Teck
-
Wed, 30 June 2010
On 13 May 2010, Kian Ann Engineering Ltd (KA) announced their three months results ended 31 March 2010. The results were respectable and exceeded our previous estimates.
Equation Corp Limited
Equation Corp Limited - Broad Business Range (Initiating Coverage)
Jacky Lee
-
Tue, 29 June 2010
We initiate coverage with a BUY recommendation and fair value of $0.060. At its current price of $0.045, Equation is trading near its 52-week low of $0.04. We believe that downside risk is limited and recommend that investors buy on any weaknesses in the stock. Any encouraging progress from its DiSa system segment would be a positive catalyst for re-rating the stock.
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Financial Blogs
Broadway delivers a solid set of Q2-2010 numbers - net profit higher by 34.9% - to pay interim dividend of 2 cents
Thu, 29 Jul 2010
-by Kevin Scully
Singapore's June 2010 industrial production rose 26.1% (below forecasts of 36.7%) caused mainly by Biomedical......but I am more interested in the electronics data which....
Tue, 27 Jul 2010
-by Kevin Scully
Eurobank stress tests provide short term relief as investors doubt its robustness.....but US markets rebound on corporate earnings.......still bumpy ahead
Mon, 26 Jul 2010
-by Kevin Scully
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