External broker reports(aggregated public sources), KGI Securities Singapore

KGI Securities

External broker reports(aggregated public sources)

KGI Securities Singapore

We are a pioneer Securities & Derivatives, Trading and Clearing Member of Singapore Exchange as well as a pioneer member of ICE Futures Singapore & ICE Clear Singapore. We offer our valued clients round the clock (24 hour) single-touch point for multi-asset clients and 24 hour high-touch desk for global products. 

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Equity Bottom-Up

SIA Engineering Co Ltd provides airframe and component overhaul services, line maintenance and technical ground handling services. The Company also manufactures aircraft cabin equipment, refurbishes aircraft galleys, repairs and overhauls hydromechanical aircraft equipment.

<ul><li>SIAEC saw total flights handled by the company’s line maintenance business reaching 95% of pre-COVID level as of September 2024.</li><li>The increased flight activities contributed to an increased demand for aircraft maintenance, repair, and overhaul (MRO) services.</li><li>This recovery trend is expected to continue as more airlines ramp up flight schedules, alongside the arrival of the year-end peak travelling season, alongside more visa-free travel agreements between countries.</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.

SIAEC saw total flights handled by the company’s line maintenance business reaching 95% of pre-COVID level as of September 2024.The increased flight activities contributed to an increased demand for aircraft maintenance, repair, and overhaul (MRO) services.This recovery trend is expected to continue as more airlines ramp up flight schedules, alongside the arrival of the year-end peak travelling season, alongside more visa-free travel agreements between countries.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.

SIA Engineering Co. Ltd. (SIE SP/ S59.SI): Maintain Strength Amidst Flight Recovery.

Fortress Minerals Limited mines, processes, and distributes iron ore. The Company focuses on exploration, mining, production, and distribution of iron ore concentrates. Fortress Minerals serves customers in Singapore and Malaysia.

<ul><li>Fortress Mineral reported a better gross profit margin of 68.8% in 1H25, despite a drop in revenue YoY.</li><li>Net profit margin also improved to 27.1% in 1H25, compared to 23.2% in 1H24.</li><li>The increase in margins showcased the company’s efforts to improve the operational efficiency of its business. </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.

Fortress Mineral reported a better gross profit margin of 68.8% in 1H25, despite a drop in revenue YoY.Net profit margin also improved to 27.1% in 1H25, compared to 23.2% in 1H24.The increase in margins showcased the company’s efforts to improve the operational efficiency of its business. 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.

Fortress Minerals Ltd. (FMIL SP/ OAJ.SI): China Stimuli to Support Iron Ore Prices.

<ul><li>Stable margins.Fortress Mineral reported a better gross profit margin of 68.8% in 1H25, despite a drop in revenue YoY.</li><li>Net profit margin also improved to 27.1% in 1H25, compared to 23.2% in 1H24.</li><li>The increase in margins showcased the company’s efforts to improve the operational efficiency of its business.</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.

Stable margins.Fortress Mineral reported a better gross profit margin of 68.8% in 1H25, despite a drop in revenue YoY.Net profit margin also improved to 27.1% in 1H25, compared to 23.2% in 1H24.The increase in margins showcased the company’s efforts to improve the operational efficiency of its business.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.

Fortress Minerals Ltd. - China Stimuli to Support Iron Ore Prices

Golden Energy & Resources / Equity Bottom-Up

Golden Energy and Resources Ltd. engages in the exploration, mining, marketing and trading of thermal coal. The Company 's coal mining concession areas cover South and Cental Kalimantan, as well as Jambi, Indonesia.

<ul><li>Dividend policy holds firm despite market challenges .</li><li>Geo Energy reported a 14% YoY decline in net profit to US$24.2 mn for 1H24, primarily due to a reduction in coal prices.</li><li>Despite this, the company maintained its commitment to shareholders by declaring an interim dividend of S$0.002 per share, representing a payout ratio of 11.4%.</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.

Dividend policy holds firm despite market challenges .Geo Energy reported a 14% YoY decline in net profit to US$24.2 mn for 1H24, primarily due to a reduction in coal prices.Despite this, the company maintained its commitment to shareholders by declaring an interim dividend of S$0.002 per share, representing a payout ratio of 11.4%.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.

Geo Energy Resources Ltd - Navigating Challenges with Strategic Investments

Centurion Corporation Limited owns, develops and manages quality, purpose-built workers accommodation assets in Singapore and Malaysia, and purpose-built student accommodation assets in Singapore, Australia, the United Kingdom (“UK”), the United States (“US”) and South Korea.

<ul><li>Stronger than anticipated revenue growth .</li><li>Centurion Corporation reported a 27% YoY growth in total revenue for 1H24, increasing from S$ 97.9 mn to S$124.4 mn.</li><li>This robust performance was driven by high financial occupancy in key markets like Singapore, the UK, and Australia, along with positive rental revisions across all regions.</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.

Stronger than anticipated revenue growth .Centurion Corporation reported a 27% YoY growth in total revenue for 1H24, increasing from S$ 97.9 mn to S$124.4 mn.This robust performance was driven by high financial occupancy in key markets like Singapore, the UK, and Australia, along with positive rental revisions across all regions.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.

Centurion Corp Ltd - Strong Revenue Growth and Strategic Expansion