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>SATS (SGX:S58)'s FY23 revenue grew 49.4% y-o-y, which included a full-year contribution from 65.4%-owned HK cargo handler AAT.</li><li>However, operating loss rose 12.7% y-o-y, dragged down by cost escalation (+48.1% y-o-y), S$44mil in M&amp;A expenses, and weak performances from AAT, Malaysia ground handling and Saudi Arabia cargo handling.</li><li>Net loss would be S$77.6mil if government relief were excluded.</li></ul><p><em>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.</em></p>

SATS (SGX:S58)'s FY23 revenue grew 49.4% y-o-y, which included a full-year contribution from 65.4%-owned HK cargo handler AAT.However, operating loss rose 12.7% y-o-y, dragged down by cost escalation (+48.1% y-o-y), S$44mil in M&amp;A expenses, and weak performances from AAT, Malaysia ground handling and Saudi Arabia cargo handling.Net loss would be S$77.6mil if government relief were excluded.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.

SATS - Acquisition Costs & Cargo Weakness Overshadow Recovery

Singapore

SATS Limited provides integrated ground handling and in-flight catering services at Singapore Changi Airport.  The Company also provides aviation security, airline laundry, and airport cargo delivery management services.

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