Singapore Stocks to Watch: ComfortDelGro, Thai Beverage, Oiltek, Centurion and More

Tiger Newspress2023-10-12

The following companies saw new developments that may affect trading of their securities on Thursday (Oct 12):

UOB Kay Hian (UOBKH) has maintained its “buy” call on Thai Beverage (ThaiBev) with a lower target price of 75 cents, from its previous 83 cents. This is on the backing of lower valuations for the beer segment, and a stronger Singapore dollar since UOBKH’s last update.

With expectations of higher earnings, CGS-CIMB Research analyst Ong Khang Chuen has kept his “add” call on ComfortDelGro and with a raised target price of $1.55 from $1.47. The new target price, as indicated by Ong in his Oct 10 note, is pegged to a 16.2x FY2024 earnings, 0.5 standard deviation above CD’s five-year historical average.

Oiltek International, through its wholly-owned subsidiary Oiltek Sdn. Bhd., has been awarded new contracts in Indonesia and Malaysia. The contracts are worth a total of RM40.1 million ($11.6 million).

Centurion Corp is likely to be impacted by the Ministry of Manpower in Singapore announcement of a Dormitory Transition Scheme (DTS) for existing dormitories approved or operational before Sept 18 2021 to transition to improved Interim Dormitory Standards (IDS). The aim is to strengthen resilience against future pandemics and enhance livability.

Creative Technology has given notice that it has recorded pre-tax losses for three consecutive years. It however meets the financial entry criteria to avoid being placed on the Singapore Exchange’s (SGX) watch list, as its six-month average daily market capitalisation as at Wednesday (Oct 11) was S$110.3 million.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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