Singapore Technologies Engineering Ltd.

Singapore Technologies Engineering is an investment holding company. Co. and its subsidiaries have four business sectors: Aerospace, which provides a range of aircraft maintenance, engineering and training services for both military and commercial aircraft operators; Electronics, which engages in the design, development and integration of electronics and communications systems; Land Systems, which delivers integrated land systems, specialty vehicles and their related through-life support; and Marine, which provides customised shipbuilding, repair and conversion services to both naval and commercial vessels, at Co.'s yards in Singapore and the U.S.
  • TickerS63
  • ISINSG1F60858221
  • ExchangeSingapore Exchange
  • SectorAerospace & Defense
  • CountrySingapore

Analysts

1 director bought

A director at Singapore Tech Engineering Ltd bought 20,000 shares at 3.930SGD and the significance rating of the trade was 64/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. T...

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Singapore Research Team

Strategy - Alpha Picks: Outperformed in 3Q19; Add Yangzijang

While the FSSTI retreated 6.1% in 3Q19, our alpha picks gained 2.0% in the quarter, led by our small/mid-cap picks (Fu Yu: +11.5%, Koufu: +5.8%) and our short call on SATS (-11.2%). For September, our portfolio rose 0.9% mom, surpassing the FSSTI’s gain of 0.4% mom; notable outperformers for the month were Fu Yu and CDREIT. For October, we add Yangzijiang as we believe the recent share price weakness is unwarranted and it is currently trading at an inexpensive valuation of 0.56x 2019F P/B.

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Singapore Research Team

Singapore Daily - Friday, October 04, 2019

KEY HIGHLIGHTS Strategy Alpha Picks: Outperformed In 3Q19; Add Yangzijiang: Our alpha picks rose 2.0% in 3Q19, outperforming the FSSTI (-6.1%). For October, we add Yangzijiang as we believe the share price weakness is unwarranted. TRADERS’ CORNER AEM Holdings Ltd (AEM SP): Trading Buy Keppel DC REIT (KDCREIT SP): Trading Buy

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K Ajith

Aviation - Upgrade SATS to HOLD; STE remains our top pick in the sector

We like STE as we believe recent acquisitions help strengthen its value propositions. Also, the renewed defence pact between Singapore and the US could provide STE with stronger earnings visibility. Despite near-term headwinds, we are still optimistic of SATS’ long-term growth prospects given its strong balance sheet and cash flow generation abilities. We remain neutral on SIA and SIAEC. Maintain MARKET WEIGHT.

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K Ajith

Singapore Daily - Tuesday, October 01, 2019

KEY HIGHLIGHTS Sector Aviation: Upgrade SATS to HOLD; STE remains our top pick in the sector. TRADERS’ CORNER SIA Engineering Co (SIE SP): Trading Buy Frasers Centrepoint Trust (FCT SP): Trading Buy

Moody's announces completion of a periodic review of ratings of Singapore Technologies Engineering Ltd.

Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Singapore Technologies Engineering Ltd.. Global Credit Research- 16 Sep 2019. Singapore, September 16, 2019-- Moody's Investors Service has completed a periodic review of the ratings of Singapore Technologies Engineering Ltd. and other ratings that are associated with the same analytical unit.

Singapore Technologies Engineering Ltd. - June 2019 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Singapore Technologies Engineering Ltd.: Update to credit analysis

Our credit view of Singapore Technologies Engineering Ltd., reflecting our expectation of a very high level of support from the Singapore government.

Singapore Technologies Engineering Ltd.: Parental guarantee, backstop facility support credit quality of subsidiary's inaugural US commercial paper program

We assigned our highest short-term rating to ST Engineering North America's inaugural US commercial paper program because it is guaranteed by parent company STE and has a backstop facility.

Singapore Technologies Engineering Ltd. - December 2018 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

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Singapore Research Team

Strategy - Alpha Picks: Outperformed in 3Q19; Add Yangzijang

While the FSSTI retreated 6.1% in 3Q19, our alpha picks gained 2.0% in the quarter, led by our small/mid-cap picks (Fu Yu: +11.5%, Koufu: +5.8%) and our short call on SATS (-11.2%). For September, our portfolio rose 0.9% mom, surpassing the FSSTI’s gain of 0.4% mom; notable outperformers for the month were Fu Yu and CDREIT. For October, we add Yangzijiang as we believe the recent share price weakness is unwarranted and it is currently trading at an inexpensive valuation of 0.56x 2019F P/B.

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Singapore Research Team

Singapore Daily - Friday, October 04, 2019

KEY HIGHLIGHTS Strategy Alpha Picks: Outperformed In 3Q19; Add Yangzijiang: Our alpha picks rose 2.0% in 3Q19, outperforming the FSSTI (-6.1%). For October, we add Yangzijiang as we believe the share price weakness is unwarranted. TRADERS’ CORNER AEM Holdings Ltd (AEM SP): Trading Buy Keppel DC REIT (KDCREIT SP): Trading Buy

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K Ajith

Singapore Daily - Tuesday, October 01, 2019

KEY HIGHLIGHTS Sector Aviation: Upgrade SATS to HOLD; STE remains our top pick in the sector. TRADERS’ CORNER SIA Engineering Co (SIE SP): Trading Buy Frasers Centrepoint Trust (FCT SP): Trading Buy

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Arsit Pamaranont ...
  • Julia Cheung Pui Man
  • K Ajith
  • Lee Yuk Kei
  • Neo Chen Wentao
  • Philip Wong
  • Raphon Prima
  • Sandra Huang Jieqiong
  • Vincent Khoo Boo Aik

Regional Morning Notes - Wednesday, September 18, 2019

GREATER CHINA Sector Coal: Valuation recovery of leading coal names. IT Hardware: A-share beneficiaries of 5G smartphone proliferation. INDONESIA Sector Banking: Preparing for another rate cut by the Fed and BI this week. MALAYSIA Update Genting Malaysia (GENM MK/HOLD/RM3.20/Target: RM3.01): Incremental revenue from New York sports betting would still be insufficient to stem Empire’s substantial losses, which also caps the potential upside when Genting-Fox theme park opens in 3Q20. British American Tobacco (ROTH MK/HOLD/RM21.50/Target: RM22.00): Despite trading at depressed valuations, BAT co...

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K Ajith

Singapore Daily - Wednesday, September 18, 2019

KEY HIGHLIGHTS Update ST Engineering (STE SP/BUY/S$3.90/Target: S$4.34): Acquisition of Glowlink should strengthen STE’s satcom capabilities. Upgrade to BUY. TRADERS’ CORNER Ascendas India Trust (AIT SP): Trading Sell CapitaLand (CAPL SP): Trading Sell

1 director bought

A director at Singapore Tech Engineering Ltd bought 20,000 shares at 3.930SGD and the significance rating of the trade was 64/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. T...

SING.TECHS.ENGR.LTD. with less fundamental stars is reduced to Neutral

SING.TECHS.ENGR.LTD. (SG), a company active in the Aerospace industry, loses a star(s) at the fundamental level and sees its general evaluation downgraded. The independent financial analyst theScreener just removed a fundamental star(s) for a 3 over 4-star rating. As such, market behaviour remains unchanged and is evaluated as moderately risky. theScreener believes that the loss of a star(s) merits downgrade to the general evaluation of the title, which passes to Neutral. As of the analysis date May 14, 2019, the closing price was SGD 4.02 and its expected value was estimated at SGD 3.87.

David Bassett

Earnings Benefited from Lower R&D; Warranty Provision Stable after Q2 Reversal

Ho Aaron

ST Engineering

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Ho Aaron

ST Engineering

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Ho Aaron

ST Engineering

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K Ajith

Aviation - Upgrade SATS to HOLD; STE remains our top pick in the sector

We like STE as we believe recent acquisitions help strengthen its value propositions. Also, the renewed defence pact between Singapore and the US could provide STE with stronger earnings visibility. Despite near-term headwinds, we are still optimistic of SATS’ long-term growth prospects given its strong balance sheet and cash flow generation abilities. We remain neutral on SIA and SIAEC. Maintain MARKET WEIGHT.

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K Ajith

Aviation - Earnings preview: SIA and SIAEC likely to disappoint. STE and SATS likely to deliver organic growth

We expect SATS’ core net profit to rise by 20%, underpinned by growth from the non-aviation food segment, but expect SIA to report a 37% yoy decline on pre-SFRS 1 based numbers. For STE, we expect low-to-mid single-digit earnings growth due to guidance on higher orderbook recognition in 2019, lower financing costs and a likely improvement in the marine sector’s margins. We are not optimistic of an earnings pick-up for SIAEC and expect the company to cut final dividends. Top picks are SATS and STE.

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K Ajith

Aviation - Earnings preview: SIA and STE could surprise on the downside; The latter due to one-off impairment charges

We expect SIA to report S$227m in net profit for 3QFY19, a 21% yoy decline on pre-SFRS 1-based numbers, and expect SIA to be more cautious in its forward guidance. For STE, we expect 4Q18 earnings to be hit by an impairment loss from the divestment of VT Leeboy India. For SATS, we expect flat headline net profit but mid- to single-digit growth in underlying 3QFY19 net profit. SIAEC could be a wild card, with potential upside surprise from its engine JV. Top picks are SATS and STE.

Strategic Defence Intelligence Department

Singapore Technologies Engineering Ltd. : Aerospace and Defense - Company Profile, SWOT & Financial Analysis

Synopsis Strategic Defence Intelligence's "Singapore Technologies Engineering Ltd. : Aerospace and Defense - Company Profile, SWOT & Financial Analysis" contains in depth information and data about the company and its operations. The profile contains a company overview, key facts, major products and services, SWOT analysis, business description, company history, financial analysis, mergers & acquisitions, recent developments, key employees, company locations and subsidiaries as well as competitive benchmarking data. Summary This report is a crucial resource for industry executives and anyon...

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