Singapore stock market update : Recent Profit Guidance List
The following is a list of singapore listed companies which recently issued profit warning or profit guidance, i have not confirmed the accuracy of the list but i believe the source is from SGX announcements by the respective companies.
Here is the list :
Westech electronics
Asia water
PCI
Giant wireless
Hosen
Sitra
AA Group
Liheng
Pacific Healthcare
China Dairy
Kinergy
Magnus
Chuan Hup
Yeo Hiap Seng
Engro
GK Goh
Lottvision
Jurongtech
Sino-Environment
Ramba (Richland)
Enviro-hub
Samko
Abterra
Novena
Yongxin
SM Summit
Luzhou
Tai Sin
Huan Hsin
Guangzhou Industrial
ChungHong
Sinobest
Oriental Food
Multistar
TPV
HLN Tech
New Lakeside
China Sun
A Sonic Aerospace
Jiutian
Adventus
KXD
Tat Hong
Uni-Asia
Inno-Pacific
Gates Elec
Tuan Sin
Superbowl
C&G
FDS Networks
Memtech
AEI
Sky China Petroleum
TTL
Japan Land
Asia Silk
Delong
Multichem
Sunshine
Cosco
Cortina
Unionmet
Asia-Pacific Strategic Investments
China Great Land
Nobel Design
Junma Tyre
Tan Chong International
Showing posts with label profit warning. Show all posts
Showing posts with label profit warning. Show all posts
Thursday, February 12, 2009
Monday, January 19, 2009
Singapore stock market news :
Tat Hong issues profit warning, DBS downgrades call, CIMB and CSFB maintains Outperform calls :
DBS downgrades to fully-valued with target price S$0.62 :
Tat Hong alerts investors that its 3QFY09 earnings would be lower yoy, blames on forex losses and lower equipment sales. We have already imputed the weak earnings in our FY09-10 forecast, which are 16%-32% below consensus. Our TP is revised down to S$0.62, based on lower multiple of 0.8x P/NTA. This implies a 10% downside from current share price. The stock has appreciated 20% since our upgrade in November. We advise investors to take profit now. Downgrade to FULLY VALUED.
CIMB maintains Outperform with lower target price of $0.90 :
To account for the adverse currency impact as well as slower demand,
we have cut our forecasts by 14-22% for FY09-11, mainly for its trading business,
which includes spare parts. We also reduce our forecasts for its rental segment by about 7%, to be conservative. Despite the above, we believe TAT’s longer-term fundamentals remain good, as management has been proactive in increasing its business resilience by developing its rental business, while taking measures to reduce trading inventory during this downturn. Management and the Ng family have also been purchasing TAT shares in past months, underscoring their confidence in the business. We maintain Outperform, albeit with a reduced target price of S$0.90 (previously S$0.93) following our earnings reductions. Our target is still based on 0.8x CY09 P/BV.
CSFB maintains Outperfom with target price S$0.95 :
These events were anticipated, and have in aggregate, driven our recent earnings downgrade. We have factored in a weaker 2H09, both on a HoH and YoY basis, as we expect equipment sales, contributing an estimated 30% of total revenue in 2H09, and 24% of total profit, would fall 54% YoY and 57% HoH. This suggests that downside risks to our FY09E forecasts, as well as that of consensus, are limited. We therefore believe that management has been conservative in issuing the profit guidance announcement, and also note the fervent insider buying activities since Aug. 2008. Near term, however, we believe that Tat Hong’s shares could see weakness from profit-taking, given the strong 73% rally since Oct. 2008. We continue to view Tat Hong as well-leveraged into construction sector demand across Asia, which is expected to remain strong over the medium term, given its operational scale, a clear growth strategy, and strong balance sheet. Tat Hong currently trades on 0.8x P/B, at a-fifth of its historical high of S$3.42 in Nov. 2007, about 35% to its historical lows (of 0.5x P/B), and with a 10.5% dividend yield support.
rooney
Tat Hong issues profit warning, DBS downgrades call, CIMB and CSFB maintains Outperform calls :
DBS downgrades to fully-valued with target price S$0.62 :
Tat Hong alerts investors that its 3QFY09 earnings would be lower yoy, blames on forex losses and lower equipment sales. We have already imputed the weak earnings in our FY09-10 forecast, which are 16%-32% below consensus. Our TP is revised down to S$0.62, based on lower multiple of 0.8x P/NTA. This implies a 10% downside from current share price. The stock has appreciated 20% since our upgrade in November. We advise investors to take profit now. Downgrade to FULLY VALUED.
CIMB maintains Outperform with lower target price of $0.90 :
To account for the adverse currency impact as well as slower demand,
we have cut our forecasts by 14-22% for FY09-11, mainly for its trading business,
which includes spare parts. We also reduce our forecasts for its rental segment by about 7%, to be conservative. Despite the above, we believe TAT’s longer-term fundamentals remain good, as management has been proactive in increasing its business resilience by developing its rental business, while taking measures to reduce trading inventory during this downturn. Management and the Ng family have also been purchasing TAT shares in past months, underscoring their confidence in the business. We maintain Outperform, albeit with a reduced target price of S$0.90 (previously S$0.93) following our earnings reductions. Our target is still based on 0.8x CY09 P/BV.
CSFB maintains Outperfom with target price S$0.95 :
These events were anticipated, and have in aggregate, driven our recent earnings downgrade. We have factored in a weaker 2H09, both on a HoH and YoY basis, as we expect equipment sales, contributing an estimated 30% of total revenue in 2H09, and 24% of total profit, would fall 54% YoY and 57% HoH. This suggests that downside risks to our FY09E forecasts, as well as that of consensus, are limited. We therefore believe that management has been conservative in issuing the profit guidance announcement, and also note the fervent insider buying activities since Aug. 2008. Near term, however, we believe that Tat Hong’s shares could see weakness from profit-taking, given the strong 73% rally since Oct. 2008. We continue to view Tat Hong as well-leveraged into construction sector demand across Asia, which is expected to remain strong over the medium term, given its operational scale, a clear growth strategy, and strong balance sheet. Tat Hong currently trades on 0.8x P/B, at a-fifth of its historical high of S$3.42 in Nov. 2007, about 35% to its historical lows (of 0.5x P/B), and with a 10.5% dividend yield support.
rooney
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