Mid-market focused investment bank within SE Asia, Evolve Capital Advisory Pte Ltd

Evolve Capital Research

Mid-market focused investment bank within SE Asia

Evolve Capital Advisory Pte Ltd

Equity Bottom-Up

Goodwill Entertainment Holding / Equity Bottom-Up

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<li>
<a href="https://www.smartkarma.com/entities/goodwill-entertainment-holding-pte-ltd" target="_blank" data-smartkarma-citation="entities:44296:1" rel="noopener">Goodwill Entertainment Holding (GWEH SP)</a> is a multi-entertainment concept operator, comprising a network of family friendly karaoke facilities with F&amp;B concepts, performance halls and dance clubs. </li>
<li>It operates under the brand names HaveFun Family Karaoke, FATEbyhavefun and HaveFun Live Show.</li>
<li>We initiate rated coverage on GEH with a TP of S$0.23, pegged to 5.9x FY24E EV/EBITDA, representing an upside of approximately 32.2%. </li>
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Goodwill Entertainment Holding (GWEH SP) is a multi-entertainment concept operator, comprising a network of family friendly karaoke facilities with F&amp;B concepts, performance halls and dance clubs. 
It operates under the brand names HaveFun Family Karaoke, FATEbyhavefun and HaveFun Live Show.
We initiate rated coverage on GEH with a TP of S$0.23, pegged to 5.9x FY24E EV/EBITDA, representing an upside of approximately 32.2%. 


Goodwill Entertainment Holding - Hitting the Notes of Growth

External broker reports(aggregated public sources), RHB Invest

RHB Invest

External broker reports(aggregated public sources)

RHB Investment Bank is one of the leading capital market players in Malaysia. Supported by an award-winning research team of experienced product specialists, RHB Group Investment Banking offers a full range of investment banking products and services covering primary markets, such as advisory (corporate & debt restructuring, mergers and acquisitions, takeovers), fundraising via both equity and debt instruments, and secondary markets including securities trading for both institutional and retail clients. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>Singapore Exchange (SGX)’s monthly market statistics continued to underwhelm.</li><li>Both securities daily average value (SDAV) and derivatives daily average volume (DDAV) registered y-o-y decline in May 23.</li><li>SGX’s forward P/E is close to its historical average, which is a fair valuation level.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Singapore Exchange (SGX)’s monthly market statistics continued to underwhelm.Both securities daily average value (SDAV) and derivatives daily average volume (DDAV) registered y-o-y decline in May 23.SGX’s forward P/E is close to its historical average, which is a fair valuation level.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Singapore Exchange (SGX) - Monthly Trading Data Continues To Disappoint

<ul><li>Singapore Exchange (SGX)’s April market statistics came in below estimates. Both securities daily average value (SDAV) and derivatives daily average volume (DDAV) registered declines.</li><li>See SGX's announcement dated 12 May 2023. Implied FY23 (Jul 2022 to Jun 2023) SDAV and DDAV (based on data till April) are tracking 2% and 5% below our forecasts.</li><li>Stay NEUTRAL and S$9.80 target price, 5% upside from the current SGX's share price.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Singapore Exchange (SGX)’s April market statistics came in below estimates. Both securities daily average value (SDAV) and derivatives daily average volume (DDAV) registered declines.See SGX's announcement dated 12 May 2023. Implied FY23 (Jul 2022 to Jun 2023) SDAV and DDAV (based on data till April) are tracking 2% and 5% below our forecasts.Stay NEUTRAL and S$9.80 target price, 5% upside from the current SGX's share price.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Singapore Exchange (SGX) - April Trading Data Disappoints

Singapore

Singapore Exchange Limited owns and operates Singapore's Securities and derivatives exchange and their related clearing houses.  The Company also provides ancillary securities processing and information technology services to participants in the financial sector.

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SGX (SGX SP)

Goodwill Entertainment Holding - Hitting the Notes of Growth

Goodwill Entertainment Holding (GWEH SP) is a multi-entertainment concept operator, comprising a network of family friendly karaoke facilities with...

Evolve Capital Advisory Pte Ltd

Singapore Exchange (SGX) - Monthly Trading Data Continues To Disappoint

Singapore Exchange (SGX)’s monthly market statistics continued to underwhelm. Both securities daily average value (SDAV) and derivatives daily...

RHB Invest

Singapore Exchange (SGX) - April Trading Data Disappoints

Singapore Exchange (SGX)’s April market statistics came in below estimates. Both securities daily average value (SDAV) and derivatives daily...

RHB Invest

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