Jonathan Koh ...
  • Kong Ho Meng
  • Malaysia Research Team
  • Napat Vorajanyavong
  • Nick Liu Sunliang
  • Robin Yuen
  • Shaun Tan
  • Vincent Khoo Boo Aik

Regional Morning Notes - Friday, July 12, 2019

Property: Embracing megacity clusters.
Anta Sports (2020 HK/BUY/HK$51.30 /Target: HK$60.00): 2Q19 operational data in line while management rebuts short-seller allegations.

Erajaya Swasembada (ERAA IJ/SELL/Rp2,090/Target: Rp1,680): 2Q19 results preview: To record higher qoq profit. Downgrade to SELL on high downside risk.

My EG Services (MYEG MK/BUY/RM1.57/Target: RM1.66): Long-term prospects remain intact while pending various watershed events to materialise in near term.
Serba Dinamik Holdings (SDH MK/BUY/RM4.16/Target: RM5.20): Upgrade to BUY with target price looking towards 2020 horizon; close to meeting high orderbook growth target of >30%.

DBS Group Holdings (DBS SP/BUY/S$25.61/Target: S$30.50): 2Q19 results preview: Continued NIM expansion, stable asset quality.

Hana Microelectronics (HANA TB/SELL/Bt27.75/Target: Bt21.50): 2Q19 results preview: Hanging by a thread.
Anta Sports Products Ltd.

ANTA Sports Products is principally engaged in the manufacturing, trading and distribution of sporting goods, including footwear, apparel and accessories, in the People's Republic of China. As of Dec 31 2014, there were 7,662 ANTA Stores, 1,228 Kids sportswear series stores and 519 FILA stores in China, Hong Kong and Macao.

DBS Group Holdings Ltd.

DBS Group Holdings is an investment holding, treasury and funding vehicle for itself and its subsidiaries. Co.'s main subsidiary is DBS Bank Ltd, which is engaged in a range of commercial banking and financial services, principally in Asia. Co.'s various business segments are: Consumer Banking/ Wealth Management, which provides individual customers with a range of banking and related financial services; Institutional Banking, which provides financial services and products to institutional clients; as well as Treasury, which provides treasury services to corporations, institutional and private investors, financial institutions and other market participants.

Erajaya Swasembada

PT Erajaya Swasembada. PT Erajaya Swasembada Tbk is an Indonesia-based company primarily engaged in mobile phones and tablets distribution and retail business. Some mobile phone brands that it distributes and retails are Apple, BlackBerry, HTC, Huawei, LG, Motorola, Nokia, Samsung and Sony. It also distributes and retails prepaid top-up cards, subscriber identity module (SIM) cards, computers and other gadgets as well as mobile phone accessories. It operates its retail stores under various brands, such as Erafone Megastore; Erafone Gadget Store; iBox, which retails Apple products exclusively, and AndroidNation, which retails Android products exclusively. Its subsidiaries include PT Teletama Artha Mandiri, PT Erafone Artha Retailindo, PT Sinar Eka Selaras and PT Data Citra Mandiri.

Hana Microelectronics PCL

Hana Microelectronics Public Company Limited is engaged in the manufacture and trading of electronic components. The Company operates through two segments: The Printed Circuit Board Assembly (PCBA) Segment, which produces and sells PCBA, and The Integrated Circuit (IC) Segment, which produces and sells IC. It is an electronic manufacturing service producer with facilities in Lamphun Province, Ayutthaya Province, Jiaxing, China and Twinsburg, Ohio, the United States. It provides various assembly processes serving a range of electronic industries, which includes IC assembly and test, micro-electro-mechanical systems, sensors, System in package (SiP), light emitting diode (LED), optocouplers; printed circuit board assembly, chip on board assembly and test, and lamination; surface-mount technology, chip on flex assembly and test, coil winding, integrated circuit assembly and test, LED packaging and test, and liquid crystal microdisplays and radio frequency identification (RFID) devices.

My Eg Services Bhd

Serba Dinamik Holdings Bhd


Jonathan Koh

Kong Ho Meng

Malaysia Research Team

Napat Vorajanyavong

Nick Liu Sunliang

Robin Yuen

Shaun Tan

Vincent Khoo Boo Aik

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