Singapore Retail Research: Comprehensive Analysis of Listed Companies

Broker Name: CGS International Securities Pte. Ltd.

Date of Report: November 8, 2024

Key Highlights from November 8, 2024 Report

The financial landscape in Singapore continues to evolve, with significant movements in both local and global markets. This report delves into the latest trends, providing a comprehensive analysis of key listed companies and their performance.

Trendspotter: SATS Ltd – Uptrend is Strong and in Early Stage

SATS Ltd, a prominent provider of gateway services and food solutions, continues to show a robust uptrend. The company specializes in airfreight, ramp and baggage handling, passenger services, aviation security services, aircraft cleaning, and cruise center management. Additionally, they offer airline catering, institutional catering, aviation laundry, and food distribution and logistics. With a presence across Asia and the Middle East, SATS Ltd is well positioned for growth.

Technical Snapshot:

• Last Price: 3.98
• Entry Price(s): 3.98, 3.76, 3.57
• Support Levels: 3.80, 3.46
• Stop Loss: 3.44
• Resistance Levels: 4.24, 4.42
• Target Prices: 4.22, 4.61, 5.00, 5.20

The report highlights that SATS Ltd has recently reached the first target price of S\$3.92 and is on course to achieve the next target price of S\$4.20. Key indicators such as a series of higher highs and lows, strong volume breakout, and positive signals from ichimoku indicators, MACD, and ROC suggest a continuation of the uptrend.

Industrial & Commercial Bank of China Ltd (1398) – Technical Buy

Industrial & Commercial Bank of China Ltd is identified as a technical buy opportunity. Key entry prices are 4.90, 4.58, and 4.28, with a stop loss set at 3.97. The target prices range from 5.21 to 8.12, indicating significant upside potential.

Haidilao International Holding Ltd (6862) – Technical Buy

Haidilao International Holding Ltd is also flagged as a technical buy. The recommended entry prices are 17.92, 16.30, and 13.78, with a stop loss at 10.90. The target prices range from 19.81 to 38.45, suggesting a strong bullish outlook for the company.

Genting Singapore – VIPs Failed to Show Up

Genting Singapore reported a disappointing performance, with a 9M24 adj. EBITDA of S\$734.7m (-7.9% yoy), missing expectations. The company saw a 52.5% yoy decline in 3Q24 adj. EBITDA to S\$163.9m due to lower gaming revenue and weaker VIP rolling volume and win rates. Consequently, the FY24F-26F adj. EBITDA has been reduced by 6.7-18.4%. However, the recommendation to add remains, albeit with a lower target price of S\$1.05.

DBS Group – Focus on Capital Management

DBS Group continues to emphasize capital management, navigating the current economic landscape with strategic financial decisions.

Foshan Haitian Flavouring – Good Recovery Trend Continuing in 4Q24F

Foshan Haitian Flavouring is experiencing a positive recovery trend in 4Q24F, indicating a resilient performance in the face of market challenges.

PTT Oil and Retail Business – Plunged into the Red on Hefty Stock Loss

PTT Oil and Retail Business faced significant challenges, plunging into the red due to hefty stock losses.

Market Indices and Commodities

Global market indices and commodities have shown varied performance:

• Dow Jones: 43,729.34 (-0.0%, YTD +16.0%)
• S&P 500: 5,973.10 (+0.7%, YTD +25.2%)
• Nasdaq: 19,269.46 (+1.5%, YTD +28.4%)
• Euro Stoxx 50: 4,851.96 (+1.1%, YTD +7.3%)
• Germany’s DAX: 19,362.52 (+1.7%, YTD +15.6%)
• UK’s FTSE 100: 8,140.74 (-0.3%, YTD +5.3%)
• Japan’s Nikkei-225: 39,381.41 (-0.3%, YTD +17.7%)
• Shanghai SE Composite: 3,470.66 (+2.6%, YTD +16.7%)
• Hong Kong’s Hang Seng: 20,953.34 (+2.0%, YTD +22.9%)
• Australia’s ASX 200: 8,226.30 (+0.3%, YTD +8.4%)
• India’s BSE Sensex 30: 79,541.79 (-1.0%, YTD +10.1%)
• Singapore’s Straits Times Index: 3,673.49 (+2.0%, YTD +13.4%)
• Taiwan TAIEX: 23,408.82 (+0.8%, YTD +30.6%)
• Korea’s KOSPI: 2,564.63 (+0.0%, YTD -3.4%)
• Malaysia’s FBMKLCI: 1,623.28 (-0.7%, YTD +11.6%)
• Indonesia’s JCI: 7,243.86 (-1.9%, YTD -0.4%)
• Thailand’s SET: 1,469.72 (+0.2%, YTD +3.8%)
• Philippines’ PCOMP: 7,014.44 (-2.1%, YTD +8.8%)

Global Commodities

• Gold Spot (US\$/oz): 2,706.64 (+31.2%)
• Silver Spot (US\$/oz): 32.03 (+34.6%)
• WTI Crude Oil (US\$/barrel): 72.36 (-9.8%)
• Brent Crude Oil: 75.58 (-12.0%)
• Natural Gas Futures: 2.69 (-39.8%)
• Copper Futures: 443.15 (+16.3%)
• Soybeans Futures: 1,026.25 (-20.7%)
• Soybean Oil Futures: 48.32 (+1.0%)
• Soymeal Futures: 298.50 (-22.7%)
• Sugar Futures: 22.20 (+10.8%)
• Cocoa Futures: 7,360.00 (+183.1%)
• Coffee Futures: 260.40 (+55.6%)
• Corn Futures: 427.50 (-37.0%)
• Wheat Futures: 571.50 (-27.8%)
• Live Cattle Futures: 185.83 (+17.7%)
• Cotton Futures: 71.05 (-14.8%)
• Palm Oil Futures (3rd month): 4,940.00 (+32.8%)
• Orange Juice Futures: 460.25 (+43.7%)

Most Active Stocks in Malaysia and Singapore

Malaysia

• 3REN SDN BHD: 0.46 (+16.5%, YTD +64%)
• Genetec Tech BHD: 0.93 (-2.6%, YTD -60%)
• Ekovest BHD: 0.39 (+5.4%, YTD -20%)
• Top Glove Corp B: 1.12 (-3.4%, YTD +24%)
• Inari Amertron B: 3.19 (+6.7%, YTD +8%)

Singapore

• Yangzijiang Ship: 2.580 (+1.2%, YTD +80%)
• Singapore Telecom: 3.200 (-0.3%, YTD +33%)
• Seatrium Ltd: 1.960 (-0.5%, YTD -17%)
• Capitaland Investment: 2.800 (-3.8%, YTD -7%)
• Genting Singapore: 0.840 (-1.2%, YTD -12%)

Most Active Stocks in S&P 500

• NVIDIA Corp: 148.88 (+2.2%, YTD +201%)
• Intel Corp: 26.23 (+4.7%, YTD -47%)
• Tesla Inc: 296.91 (+2.9%, YTD +19%)
• Warner Bros Discovery: 9.37 (+11.8%, YTD -18%)
• Super Micro Computer: 25.48 (+12.2%, YTD -10%)

Conclusion

In conclusion, the Singapore retail market continues to show dynamic movements with opportunities for investors. Companies like SATS Ltd, Industrial & Commercial Bank of China Ltd, and Haidilao International Holding Ltd present strong technical buy opportunities, while others like Genting Singapore face challenges. Staying informed and making well-researched decisions will be key to navigating the market successfully.