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text Download Copy code 1Okay, here’s an attempt to create an SEO title and answer potential user questions based on the provided document: 2 3**SEO title:** 4SEO title: SATS Ltd (SATS SP): Embedded Resilience & FY26F Outlook – CGS International Analysis 5 6**Analysis based on the document:** 7 8Based on the document provided, here’s a summary of key points and potential user questions with answers: 9 10**Key Points:** 11 12* **Company:** SATS Ltd (SATS SP) 13* **Recommendation:** Reiterate Add 14* **Analyst:** TAY Wee Kuang and LIM Siew Khee, CGS International 15* **Key Themes:** Embedded resilience, cargo market share gains, FY26F outlook 16* **Target Price:** S$3.60 17* **ESG:** Rated B- by LSEG 18 19**Potential User Questions & Answers:** 20 21**Q: What is the overall recommendation for SATS Ltd?** 22A: CGS International reiterates an “Add” recommendation for SATS Ltd. [[1]] 23 24**Q: What is the target price for SATS Ltd, and who set it?** 25A: The target price is S$3.60, set by CGS International. [[1]] 26 27**Q: What is the basis for the target price?** 28A: The target price is DCF-based (Discounted Cash Flow), with a WACC of 12.2%. [[1]] 29 30**Q: What are the key factors driving the “Add” recommendation?** 31A: The key factor is SATS’s growing market share in cargo handling, which is expected to support earnings growth in FY26F, even with potential global cargo demand weakness. [[1]] 32 33**Q: What is SATS’s ESG rating?** 34A: SATS has an ESG combined score of B- by LSEG. [[1, 5]] 35 36**Q: What were SATS’s 4QFY3/25 financial results?** 37A: SATS reported a 4QFY3/25 net profit of S$38.7m (+18.3% yoy). Revenue was S$1.48bn (+10.4% yoy). [[1]] 38 39**Q: What are the potential risks to SATS’s performance?** 40A: Downside risks include margin compression from weaker operating leverage due to softening cargo volumes and a decline in the aviation travel industry due to an economic downturn. [[1]] 41 42**Q: What is the dividend payout?** 43A: SATS declared a final DPS of 3.5 Scts, bringing FY25 total DPS to 5.0 Scts, representing a payout ratio of 30.6%. [[1]] 44 45**Q: What is the earnings growth outlook?** 46A: The report anticipates a 3-year earnings CAGR of 15.0%. [[1]] 47 48**Q: Has the analyst revised earnings estimates?** 49A: Yes, FY26F-27F EPS estimates have been increased by 7.9-8.5%. FY28F estimates are introduced. [[1]] 50 51**Q: What are the catalysts for a potential re-rating?** 52A: Potential re-rating catalysts include an expanded footprint for cargo operations supporting new contract wins and a faster step-up in utilization of its new central kitchens across China and India. [[1]] 53 54**Q: What is SATS’s market capitalization?** 55A: The market cap is US$3,444m / S$4,428m. [[1]] 56 57**Q: Who are the major shareholders of SATS?** 58A: Temasek Holdings is a major shareholder, holding 40.4%. [[1]] 59 60**Q: What is SATS’s revenue in Mar-25A?** 61A: SATS’s revenue in Mar-25A is S$5,821 million. [[1]] 62 63**Q: What are the peers of SATS?** 64A: Airports of Thailand is a peer. [[4]] 65 66**Q: What is the forecast dividend yield for Mar-26F?** 67A: The forecast dividend yield for Mar-26F is 1.85%. [[1]]

CGS International May 26, 2025 SATS Ltd: Embedded Resilience to Tide Through FY26F Key Takeaways...

Latest market updates

text Download Copy code 1Okay, here’s an attempt to create an SEO title and answer potential user questions based on the provided document: 2 3**SEO title:** 4SEO title: SATS Ltd (SATS SP): Embedded Resilience & FY26F Outlook – CGS International Analysis 5 6**Analysis based on the document:** 7 8Based on the document provided, here’s a summary of key points and potential user questions with answers: 9 10**Key Points:** 11 12* **Company:** SATS Ltd (SATS SP) 13* **Recommendation:** Reiterate Add 14* **Analyst:** TAY Wee Kuang and LIM Siew Khee, CGS International 15* **Key Themes:** Embedded resilience, cargo market share gains, FY26F outlook 16* **Target Price:** S$3.60 17* **ESG:** Rated B- by LSEG 18 19**Potential User Questions & Answers:** 20 21**Q: What is the overall recommendation for SATS Ltd?** 22A: CGS International reiterates an “Add” recommendation for SATS Ltd. [[1]] 23 24**Q: What is the target price for SATS Ltd, and who set it?** 25A: The target price is S$3.60, set by CGS International. [[1]] 26 27**Q: What is the basis for the target price?** 28A: The target price is DCF-based (Discounted Cash Flow), with a WACC of 12.2%. [[1]] 29 30**Q: What are the key factors driving the “Add” recommendation?** 31A: The key factor is SATS’s growing market share in cargo handling, which is expected to support earnings growth in FY26F, even with potential global cargo demand weakness. [[1]] 32 33**Q: What is SATS’s ESG rating?** 34A: SATS has an ESG combined score of B- by LSEG. [[1, 5]] 35 36**Q: What were SATS’s 4QFY3/25 financial results?** 37A: SATS reported a 4QFY3/25 net profit of S$38.7m (+18.3% yoy). Revenue was S$1.48bn (+10.4% yoy). [[1]] 38 39**Q: What are the potential risks to SATS’s performance?** 40A: Downside risks include margin compression from weaker operating leverage due to softening cargo volumes and a decline in the aviation travel industry due to an economic downturn. [[1]] 41 42**Q: What is the dividend payout?** 43A: SATS declared a final DPS of 3.5 Scts, bringing FY25 total DPS to 5.0 Scts, representing a payout ratio of 30.6%. [[1]] 44 45**Q: What is the earnings growth outlook?** 46A: The report anticipates a 3-year earnings CAGR of 15.0%. [[1]] 47 48**Q: Has the analyst revised earnings estimates?** 49A: Yes, FY26F-27F EPS estimates have been increased by 7.9-8.5%. FY28F estimates are introduced. [[1]] 50 51**Q: What are the catalysts for a potential re-rating?** 52A: Potential re-rating catalysts include an expanded footprint for cargo operations supporting new contract wins and a faster step-up in utilization of its new central kitchens across China and India. [[1]] 53 54**Q: What is SATS’s market capitalization?** 55A: The market cap is US$3,444m / S$4,428m. [[1]] 56 57**Q: Who are the major shareholders of SATS?** 58A: Temasek Holdings is a major shareholder, holding 40.4%. [[1]] 59 60**Q: What is SATS’s revenue in Mar-25A?** 61A: SATS’s revenue in Mar-25A is S$5,821 million. [[1]] 62 63**Q: What are the peers of SATS?** 64A: Airports of Thailand is a peer. [[4]] 65 66**Q: What is the forecast dividend yield for Mar-26F?** 67A: The forecast dividend yield for Mar-26F is 1.85%. [[1]]

CGS International May 26, 2025 SATS Ltd: Embedded Resilience to Tide Through FY26F Key Takeaways...

SGX Financial Reports

LY Corporation Limited Announces Material Variances Between Unaudited and Audited Financial Statements for FY2024

LY Corporation Limited: Financial Report Analysis and Recommendations Company Overview LY Corporation Limited is a company incorporated in the Republic of Singapore. It operates in an unspecified...

GS Holdings Limited Announces Material Variances Between Unaudited and Audited Financial Statements for FY2024

GS Holdings Limited: Net Profit Decline of $801,000 – A Comprehensive Analysis Company Overview GS Holdings Limited is a Singapore-registered company incorporated in the Republic of Singapore...

Annica Holdings Limited Reports Material Variances Between Audited and Unaudited Financial Statements for FY2024

Annica Holdings Limited: Financial Report Analysis Net Profit Growth: 967,000 SGD (from loss of 893,000 SGD to profit of 74,000 SGD) Business Description Annica Holdings Limited is a...

GS Holdings Limited Annual Report 2024: Investigation Update and Financial Statements

Financial Analysis Report: GS Holdings Limited Date: 11 April 2025 Financial Year: 2024 Net Profit Growth/Decline: Not explicitly stated, but the company’s financial performance is discussed...

SGX Corporate action

Malaysia Smelting Corporation Bhd (MSC) Proposes Bonus Issue of 420 Million Shares

MSC Shareholders to Receive Bonus Shares: What You Need to Know Malaysia-based MSC, a leading company in the industry, has announced a proposed bonus issue of 420 million new shares, which is expected...

Digital Core REIT Addresses Investor Concerns: AGM Insights and Future Plans

Digital Core REIT Reports Progress on Key Initiatives, Shares Valuations Concerns Digital Core REIT, a Singapore-based real estate investment trust, has addressed key concerns and provided updates on...

Samudera Shipping Line Ltd Announces Record Date and Payment Date for Special Dividend and Final Dividend

Samudera Shipping Line Ltd Announces Record Date and Payment Date for Special Dividend and Final Dividend In a recent announcement, Samudera Shipping Line Ltd, a Singapore-based company, has revealed...

Broadway Industrial Group Limited Mandatory Unconditional Cash Offer Completes Section 215(3) Process

UOB Completes Mandatory Unconditional Cash Offer for Broadway Industrial Group Key Points: United Overseas Bank Limited (UOB) has completed the mandatory unconditional cash offer for Broadway...

Upcoming Singapore Dividends

Company Ex-date Payment date Particulars Symbol Code Yield Close Price
ISDN HOLDINGS LIMITED 2025-07-04 2025-08-25 Declared Rate: SGD 0.0047 per security/unit
I07 1.52% $0.31 SGD
PSC CORPORATION LTD. 2025-06-05 2025-06-18 Rate: SGD 0.013 Per Security
DM0 3.66% $0.36 SGD
UNITED OVERSEAS BANK LIMITED 2025-08-15 2025-08-28 Rate: SGD 0.25 Per Security
U11 0.71% $35.41 SGD
SHANGRI-LA ASIA LIMITED 2025-06-16 2025-06-27 Rate: HKD 0.1 Per Security
S07 2.28% $4.38 HKD
LOW KENG HUAT (SINGAPORE) LTD 2025-06-06 2025-06-20 Rate: SGD 0.015 Per Security
F1E 4.62% $0.33 SGD
MEGACHEM LIMITED 2025-06-06 2025-06-26 Rate: SGD 0.005 Per Security
5DS 1.14% $0.44 SGD
AMARA HOLDINGS LTD 2025-06-12 2025-06-26 Rate: SGD 0.005 Per Security
A34 0.56% $0.89 SGD
SUTL ENTERPRISE LIMITED 2025-06-02 2025-06-19 Rate: SGD 0.05 Per Security
BHU 6.49% $0.77 SGD
MALAYSIA SMELTING CORP BHD 2025-06-13 2025-06-26 Rate: MYR 0.07 Per Security
NPW 2.88% $0.74 SGD
UNION GAS HOLDINGS LIMITED 2025-06-12 2025-06-27 Rate: SGD 0.01 Per Security
1F2 3.08% $0.33 SGD
BYD HK SDR 10TO1 2025-06-10 2025-08-01 Rate: CNY 0.35408 Per Security
HYDD 0.98% $6.48 SGD
SIA ENGINEERING CO LTD 2025-07-28 2025-08-12 Rate: SGD 0.07 Per Security
S59 2.59% $2.70 SGD
UMS INTEGRATION LIMITED 2025-07-09 2025-07-24 Rate: SGD 0.01 Per Security
558 0.85% $1.17 SGD
KIMLY LIMITED 2025-06-26 2025-07-15 Rate: SGD 0.01 Per Security
1D0 3.08% $0.33 SGD
PARKSON RETAIL ASIA LIMITED 2025-06-04 2025-06-12 Rate: SGD 0.04 Per Security
O9E 30.08% $0.13 SGD
SINGAPORE AIRLINES LTD 2025-08-08 2025-08-27 Rate: SGD 0.3 Per Security
C6L 4.21% $7.13 SGD
ALIBABA HK SDR 5TO1 2025-06-11 2025-07-08 Rate: USD 0.025988 Per Security
Rate: USD 0.023513 Per Security
HBBD 1.69% $3.80 SGD
LHN LIMITED 2025-06-03 2025-06-27 Rate: SGD 0.01 Per Security
41O 1.94% $0.52 SGD
SINGTEL 2025-07-31 2025-08-19 Rate: SGD 0.1 Per Security
Z74 2.62% $3.81 SGD
PEC LTD. 2025-06-04 2025-06-17 Rate: SGD 0.2 Per Security
IX2 23.81% $0.84 SGD
SATS LTD. 2025-07-30 2025-08-15 Rate: SGD 0.035 Per Security
S58 1.13% $3.09 SGD
ISHARES USD ASIA HY BOND ETF 2025-06-02 2025-06-30 Rate: USD 0.12 Per Security
O9P 1.79% $6.70 USD
ISHARES USD ASIA BOND ETF 2025-06-02 2025-06-30 Rate: USD 0.14 Per Security
N6M 1.44% $9.72 USD
BOUSTEAD SINGAPORE LIMITED 2025-08-08 2025-09-26 Declared Rate: SGD 0.02 per security/unit
Declared Rate: SGD 0.04 per security/unit
F9D 5.41% $1.11 SGD
ECON HEALTHCARE (ASIA) LIMITED 2025-06-02 2025-07-16 Rate: SGD 0.025 Per Security
EHG 7.14% $0.35 SGD
BAN LEONG TECHNOLOGIES LIMITED 2025-08-07 2025-08-22 Rate: SGD 0.013 Per Security
B26 2.15% $0.61 SGD
VALUETRONICS HOLDINGS LIMITED 2025-08-08 2025-08-22 Rate: HKD 0.11 Per Security
Rate: HKD 0.08 Per Security
BN2 4.43% $0.71 SGD
CAPITALAND ASCENDAS REIT 2025-06-04 2025-06-30 Declared Rate: SGD 0.05502 per security/unit
Rate: SGD 0.00161 Per Security
Rate: SGD 0.00816 Per Security
A17U 2.44% $2.65 SGD
INTERRA RESOURCES LIMITED 2025-07-17 2025-08-01 Rate: SGD 0.0015 Per Security
5GI 4.17% $0.04 SGD
SHS HOLDINGS LTD. 2025-06-09 2025-06-17 Rate: SGD 0.00229 Per Security
566 1.86% $0.12 SGD
ASPIAL LIFESTYLE LIMITED 2025-06-05 2025-06-13 Rate: SGD 0.0038 Per Security
5UF 3.17% $0.12 SGD

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