These are Singapore companies which may be in focus on Wednesday, 6 November 2019: Singapore Airlines, StarHub, Perennial, AIMS APAC REIT and HPHT.
Maybank Kim Eng downgraded Hi-P International to Sell from Hold, advising investors to wait for a better entry point.
Hi-P completed the acquisition of plastic component maker SEAMCO, the contract manufacturer said in a filing to SGX Thursday.
Hi-P International reported Wednesday its third quarter net profit fell 2.7 percent on-year to S$32.87 million as the gross profit margin declined.
These are Singapore companies which may be in focus on Wednesday, 9 October 2019: Comfort DelGro, SBS Transit, Hi-P, Fraser & Neave and Sembcorp.
Hi-P International said Tuesday it entered a deal to acquire Singapore-based plastics manufacturer SEAMCO for US$31 million.
Hi-P reported Thursday its second quarter net profit rose 16.9% on-year to S$14.38M as a change in product mix and better cost management boosted margins.
Contract manufacturer Hi-P guided Thursday for lower revenue, but higher profit for the second quarter, compared with the second quarter of 2018.
Maybank KimEng upgraded contract manufacturer Hi-P to Hold from Sell, saying the negatives are priced in after the stock’s 22 percent drop since late April.
Hi-P reported Thursday 1Q19 net profit rose 5.8% on-year to S$10.7M despite pricing pressures and a shift toward a lower-margin product mix.
Hi-P Tuesday issued profit guidance for the first quarter of 2019 revenue and profit to come in similar to levels in the first quarter of 2018.
Maybank KimEng said on Monday that shares of Hi-P International were overvalued after gaining 47 percent since posting its earnings in late February.