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. 

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Equity Bottom-Up

<ul><li>ST Engineering's share price has seen a 9% rise in year-to-date and has outperformed the STI by 11% during the same period.</li><li>In current situation of an uncertain macroeconomic environment, we believe ST Engineering can deliver double-digit profit CAGR during 2023-2025, aided by revenue growth and margin improvement. Its ability to sustain a S$0.16 dividend payout despite the recent rise in debt should provide downside protection to ST Engineering's share price.</li><li>the urban solutions &amp; satcom (USS) segment experiencing strong growth amid contributions from the TransCore acquisition beyond 2023; and</li><li>the defence public security (DPS) segment benefiting from rising defence spending in Singapore and the US.</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.

ST Engineering's share price has seen a 9% rise in year-to-date and has outperformed the STI by 11% during the same period.In current situation of an uncertain macroeconomic environment, we believe ST Engineering can deliver double-digit profit CAGR during 2023-2025, aided by revenue growth and margin improvement. Its ability to sustain a S$0.16 dividend payout despite the recent rise in debt should provide downside protection to ST Engineering's share price.the urban solutions &amp; satcom (USS) segment experiencing strong growth amid contributions from the TransCore acquisition beyond 2023; andthe defence public security (DPS) segment benefiting from rising defence spending in Singapore and the US.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.

ST Engineering - Outperformance In An Uncertain Environment

<ul><li>ST Engineering’s 1Q23 revenue of S$2.3bn was in line, accounting for 24% of our 2023F.</li><li>It reported strong order wins in 1Q23, with an outstanding orderbook of S$25.4bn at an all-time high.</li><li>We continue to like ST Engineering for its strong revenue visibility and defensive dividend outlook.</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.

ST Engineering’s 1Q23 revenue of S$2.3bn was in line, accounting for 24% of our 2023F.It reported strong order wins in 1Q23, with an outstanding orderbook of S$25.4bn at an all-time high.We continue to like ST Engineering for its strong revenue visibility and defensive dividend outlook.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.

ST Engineering - In Line 1Q23 & Strong Order Wins; Keep BUY

Singapore

ST Engineering is a global technology, defence and engineering group with offices across Asia, Europe, the Middle East and the U.S., serving customers in more than 100 countries. The Group uses technology and innovation to solve real-world problems and improve lives through its diverse portfolio of businesses across the aerospace, smart city, defence and public security segments. Headquartered in Singapore, ST Engineering reported revenue of $7.9b in FY2019 and it ranks among the largest companies listed on the Singapore Exchange. It is a component stock of the FTSE Straits Times Index, MSCI Singapore, iEdge SG ESG Transparency Index and iEdge SG ESG Leaders Index.

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ST Engineering (STE SP)

ST Engineering - Outperformance In An Uncertain Environment

ST Engineering's share price has seen a 9% rise in year-to-date and has outperformed the STI by 11% during the same period.

RHB Invest

ST Engineering - In Line 1Q23 & Strong Order Wins; Keep BUY

ST Engineering’s 1Q23 revenue of S$2.3bn was in line, accounting for 24% of our 2023F. It reported strong order wins in 1Q23, with an outstanding...

RHB Invest

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