In the 1QFY2026 ended June, the company reported a net profit of $42.9 million, up 29% q-o-q, thanks to a strong 36% q-o-q rise in share of associate and joint-venture (JV) profits as the latter’s engine and component maintenance businesses did well.
CGS International (CGSI) analyst Raymond Yap has downgraded his call on SIA Engineering Company (SIAEC) to “reduce” from “add” previously at an unchanged target price of $3.10 following a sharp share price rally of 54% over the past three months.
Yap writes in his July 23 note: “We downgrade to ‘reduce’ as we think SIAEC’s share price has adequately reflected its current positive earnings trajectory and believe that another round of share price rerating may have to wait until SIAEC delivers on its structural growth and capacity expansion plans.”
