Wednesday, January 10, 2018

SG Market (10 Jan 18)

- Expect rotational play into oil-related counters after WTI crude oil topped US$63/bbl for the first time since 2014, while tech manufacturers could come under pressure, weighed by the pullback in global semiconductor stocks.
- Technically, the STI has extended into overbought territory with short-term support at 3,470 and topside resistance at 3,550.

*HC Surgical Specialists (HSP SP)
- 1HFY18 net profit jumped to $2.5m (1HFY17: $0.1m), helped mainly by the absence of IPO expense and a newly-acquired associate.
- Revenue of $7.7m (+80%) was lifted by full six-month contribution from M&As.
- However, interim DPS was slashed to 1.1¢ (1HFY17: 1.8¢).
- Trades at 69.9x trailing P/E.

*Tuan Sing
- Booked $44.5m in fair value gain for FY17 (FY16: $2.3m) following its annual revaluation of investment properties.
- For context, 9M17 and FY16 net profit were $13.1m and $33.6m respectively.
- Trades at forward P/E of 22.6x and pre-adjusted P/B of 0.61x.

*Hiap Tong
- Awarded a 5-year extension to a lifting services contract with ExxonMobil Asia from 1 Jan.
- Work entails the provision of crane rental and lifting services.
- The contract value will depend on the amount and scope of work to be carried out.
- Trades at 7.4x trailing P/E.

*Alpha Energy
- 36.2% owned Brooks Range Petroleum achieved a peak average of 1,292 bbls/day in production from its Southern Miluvearch Unit in Alaska, US.
- The unit is estimated to have 33.3m bbls of oil reserve.

*Spackman Entertainment
- Slated to release Golden Slumber in Korean theatres on 14 Feb.
- To recap, the estimated total production budget for the film was set at 10b won (US$8.7m).
- Trades at 14.8x forward P/E.

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