• 研报 | Penguin International Ltd:又一个净现金创纪录的丰收季

    12th November, 2019

    摘要: 推介日期 2019年11月8日 买入 (维持) 收盘价:SGD 0.660 | 预测DIV:SGD 0.0125 目标价:SGD 0.930 | 总回报:42.8%   摘要 盈利和营收双丰收。我们将2019/2020财年末的收益提高约10%。 由于去年经历季节性疲软的季度,与去年同期相比,业绩显得有些言过其实。连续四个季...

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  • 研报 | 星和电信有限公司 (StarHub):正在复苏

    8th November, 2019

    摘要: 2019年11月6日 增持 (维持) 收盘价:SGD 1.480 | 预测DIV:SGD 0.090 目标价:SGD 1.580 | 总回报:12.8%   摘要 收入和税后净利达到预期。不包括来自TPG的900万新元的一次性通道收入,税后净利将比我们的估值少3%。考虑到竞争因素和来自单个企业客户的大量流失,移动部门相对具有弹性。受网络安全...

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  • 研报 | 美国银行业三季度汇报:净利息收入来自降息的压力,被存款增长所抵消

    7th November, 2019

    摘要: 2019年11月4日 Invesco KBW Bank ETF | 股票代码:KBWB 收盘价:USD 54.58 | 年初迄今回报:26.4% First Trust Nasdaq Bank ETF | 股票代码:FTXO 收盘价:USD 26.61 | 年初迄今回报:21.9% SPDR S&P Bank ETF | 股票代码:KBE 收盘价:USD...

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  • 研报 | 新加坡银行业每月快讯:贷款增长乏力但稳定

    6th November, 2019

    摘要: 星展集团控股 | 彭博代码:DBS SP 增持 (维持) 收盘价:SGD 26.13 | 预测DIV:SGD 1.20 目标价:SGD 27.60 | 总回报:10.22% 华侨银行集团 | 彭博代码:OCBC SP 增持 (维持) 收盘价:SGD 11.08 | 预测DIV:SGD 0.48 目标价:SGD 12.32 | 总回报:15.52% 大华银行集团 | 彭博代码...

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  • 大华银行有限公司(UOB): 费用增长将抵消2020年净息差的收缩

    5th November, 2019

    摘要: 2019年11月4日 增持 (维持) 收盘价: SGD 26.6 | 预测DIV: SGD 1.3 目标价: SGD 27.8 | 总回报: 9.6%   摘要 2019年三季度的营收和税后净利符合我们的预期。 由于利率下降和竞争激烈的定价环境,净息差同比下降4个基点,环比下降至1.77%。预计到2020财年,净息差将收缩5-10个基...

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  • 研报 | 昇崧集团(Sheng Siong):开新店 + 市场份额 + 更高利润 = 利润创新高

    4th November, 2019

    摘要: 2019年11月1日 增持 (维持) 收盘价:SGD 1.17 | 预测DIV:SGD 0.037 目标价:SGD 1.32 | 总回报:16.0%   摘要 2019年三季度的收入在我们的预期之内。由于获得更高的毛利率以及其他收入(津贴)的增加,净收益超过了我们的预期。因为新鲜食品销售组合的增加,三季度的新店推动收入增长11%,而毛利率也...

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  • 资讯 | 美联储年内三次降息,标普指数创收盘新高

    31st October, 2019

    摘要: 美股 北京时间10月31日凌晨,美股周三收高,标普500指数再创历史最高收盘纪录。美联储宣布降息25个基点,并暗示将暂停宽松措施。美联储主席鲍威尔称目前的货币政策是合适的。 截止收盘,道指收盘上涨115.27点,或0.43%,报27186.69点;标普500指数涨9.88点,或0.33%,报3046.77点;纳指涨27.12点,或0.33%,报8303.98点。 在结束为期两天的货币...

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  • 研报 | 吉宝数据中心投资信托(KEPPEL DC REIT)

    17th October, 2019

    摘要: 2019年10月16日 增持 (维持) 收盘价:SGD 1.990 | 预测DIV:SGD 0.078 目标价:SGD 2.060 | 总回报:7.4%   摘要 2019年三季度NPI 和DPU 与我们的预测相符。9个月DPU 占2019财年预估值的74.2%。 投资组合指标健康;出租率上升0.7%,而收购后的杠杆率将稳...

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  • 美股研报 | 哔哩哔哩(Bilibili Inc.):快速的用户扩张带来了快速的收入增长

    6th September, 2019

    摘要: 2019年9月4日 买入价:USD 13.10 | 止损价:USD12.00 目标价:USD 16.52 | 收盘价:USD 14.16   摘要 Bilibili 公布,2019年二季度净收入15.377亿元人民币,同比增长50%,其中直播和增值业务同比增长175%,至3.26亿元人民币。 2019年二季度的每月活跃用户达到1.104...

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  • 研报 | 京东(JD.COM, Inc.):领先的在线零售商,其利润不断提高

    27th August, 2019

    摘要: 2019年8月16日 买入价:USD 30.00 | 止损价:USD26.32 目标价:USD 36.00 | 收盘价:USD 30.16   摘要 京东公布2019年一季度净收入1503亿元人民币,同比增长22.9%,服务净收入同比激增42%,至168亿元人民币。 2019年二季度的营业利润率上升2个百分点至2.1%,与之相比,201...

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IMPORTANT INFORMATION

This material is provided by Phillip Capital Management (S) Ltd (“PCM”) for general information only and does not constitute a recommendation, an offer to sell, or a solicitation of any offer to invest in any of the exchange-traded fund (“ETF”) or the unit trust (“Products”) mentioned herein. It does not have any regard to your specific investment objectives, financial situation and any of your particular needs. You should read the Prospectus and the accompanying Product Highlights Sheet (“PHS”) for key features, key risks and other important information of the Products and obtain advice from a financial adviser (“FA“) pursuant to a separate engagement before making a commitment to invest in the Products. In the event that you choose not to obtain advice from a FA, you should assess whether the Products are suitable for you before proceeding to invest. A copy of the Prospectus and PHS are available from PCM, any of its Participating Dealers (“PDs“) for the ETF, or any of its authorised distributors for the unit trust managed by PCM.  

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The regular dividend distributions, out of either income and/or capital, are not guaranteed and subject to PCM’s discretion. Past payout yields and payments do not represent future payout yields and payments. Such dividend distributions will reduce the available capital for reinvestment and may result in an immediate decrease in the net asset value (“NAV”) of the Products. Please refer to <www.phillipfunds.com> for more information in relation to the dividend distributions.  

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Phillip Capital Management (S) Ltd (Co. Reg. No. 199905233W)  
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