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Singapore Retail Research: Hong Leong Asia Ltd Uptrend & Yangzijiang Shipbuilding Outlook (May 2025)

Byminichart May 26, 2025 Market Updates,Singapore SGX stocks

CGS International Retail Research May 26, 2025 Trendspotter: Crypto Resilience Amidst Market Turmoil...

BRC Asia (BRC SP) Analysis: Hold Rating Maintained with Increased Target Price – May 2025 1

Byminichart May 26, 2025 Market Updates,Singapore SGX stocks

UOB Kay Hian Monday, 26 May 2025 BRC Asia (BRC SP): Navigating Growth Amidst Construction Boom...

$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]]$

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 3SEO title: 4SEO title: SATS Ltd (SATS SP): Embedded Resilience & FY26F Outlook – CGS International Analysis 5 6Analysis based on the document: 7 8Based on the document provided, here’s a summary of key points and potential user questions with answers: 9 10Key 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 19Potential User Questions & Answers: 20 21Q: What is the overall recommendation for SATS Ltd? 22A: CGS International reiterates an “Add” recommendation for SATS Ltd. [[1]] 23 24Q: 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 27Q: 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 30Q: 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 33Q: What is SATS’s ESG rating? 34A: SATS has an ESG combined score of B- by LSEG. [[1, 5]] 35 36Q: 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 39Q: 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 42Q: 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 45Q: What is the earnings growth outlook? 46A: The report anticipates a 3-year earnings CAGR of 15.0%. [[1]] 47 48Q: 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 51Q: 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 54Q: What is SATS’s market capitalization? 55A: The market cap is US$3,444m / S$4,428m. [[1]] 56 57Q: Who are the major shareholders of SATS? 58A: Temasek Holdings is a major shareholder, holding 40.4%. [[1]] 59 60Q: What is SATS’s revenue in Mar-25A? 61A: SATS’s revenue in Mar-25A is S$5,821 million. [[1]] 62 63Q: What are the peers of SATS? 64A: Airports of Thailand is a peer. [[4]] 65 66Q: What is the forecast dividend yield for Mar-26F? 67A: The forecast dividend yield for Mar-26F is 1.85%. [[1]]

Byminichart May 26, 2025 Market Updates,Singapore SGX stocks

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

Bumi Armada (BAB MK) 1Q25 Results: Core Net Profit Misses Expectations, Target Price Lowered to RM0.79 | 2025 Outlook & Analysis

Byminichart May 23, 2025 Bursa KLSE stocks,Market Updates

Broker: Phillip Research Sdn Bhd (Malaysia) Date of Report: 23 May 2025 Bumi Armada 1Q25 Results:...

Xiaomi Unveils XRING O1 SoC, Mi15S Pro & YU7 EV: Key Highlights, Financial Outlook, and Target Price for 2025

Byminichart May 23, 2025 Market Updates

Broker: UOB Kay Hian Date of Report: Friday, 23 May 2025 Xiaomi Corp Surges Ahead: In-House XRING...

Sunway Berhad 1Q25 Results: Strong Earnings Visibility & Safe Haven Amid Macro Uncertainty | Target Price Upgraded to RM5.45

Byminichart May 23, 2025 Bursa KLSE stocks,Market Updates

Broker: UOB Kay Hian Date of Report: Friday, 23 May 2025 Sunway Berhad: Upgraded to Buy on Strong...

Shenzhou International (2313 HK) Stock Analysis: 2025 Growth Outlook, Target Price HK$85.60, and Margin Expansion Potential

Byminichart May 23, 2025 Market Updates

UOB Kay Hian Date of Report: Friday, 23 May 2025 Shenzhou International Group: 2025 Outlook – Strong...

Press Metal Aluminium Holdings (PMAH) 1Q25 Results: Strong Growth Outlook with New Alumina Expansion, Target Price RM6.26

Byminichart May 23, 2025 Bursa KLSE stocks,Market Updates

UOB Kay Hian 23 May 2025 Press Metal Aluminium Holdings: Robust Growth Prospects with New Alumina...

Lenovo Group 4QFY25 Results: Strong Core Growth, Solid Outlook & Target Price of HK$12.10 | UOB Kay Hian Analysis

Byminichart May 23, 2025 Market Updates

UOB Kay Hian 23 May 2025 Lenovo Group (992 HK): Strong Core Performance in 4QFY25, Despite One-Off...