Sheng Siong – RHB Invest 2022-05-05: Resilient Against Inflationary Pressures; NEUTRAL

May 10, 2022
Posted by: AliensFaith
Category: OBJECTIVE PRESS

SHENG SIONG GROUP LTD (SGX:OV8)

Sheng Siong – Resilient Against Inflationary Pressures; NEUTRAL

Sheng Siong (SGX:OV8) reported sturdy 1Q22 numbers, with revenue and PATMI rising by 6% and 14% to S$358m and S$35.2m, i.e. slightly ahead of our expectations. However, we expect the normalisation from COVID-19 to continue, which will probably impact its performance ahead – especially now that travel and dining out restrictions have relaxed greatly. As such, we make no change to our stock rating, and our target price is premised on an unchanged 19x FY22F P/E.

Author: AliensFaith

HighTech FinTech researcher, university lecturer & Scholar. He is studying his second doctoral degree at the Hague International University. Studying different fields of Sciences gave him a broad understanding of various aspects of life. His recent researches covered AI, Machine-learning & Automation concepts. The Information Technology Skills & Knowledge gave his company a higher position over other regional high-tech consultancy services. The other qualities and activities which can describe him are a Hobbyist Programmer, Achiever, Strategic Thinker, Futuristic person, and Frequent Traveler.

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Sheng Siong – RHB Invest 2022-05-05: Resilient Against Inflationary Pressures; NEUTRAL

Sheng Siong – Resilient Against Inflationary Pressures; NEUTRAL

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