Moving into 2018, the research house sees improved demand, together with the ramp-up of newly opened distribution centres in Singapore, the Philippines and Malaysia, helping to boost continued earnings improvement going forward.
SINGAPORE (Feb 19): RHB is maintaining “overweight” on Singapore’s consumer staples sector while highlighting Dairy Farm as its preferred “buy” pick with an unchanged target price of US$9.53 ($12.50) on expectations of consumption to pick up across the ASEAN region this year.
RHB’s positive sector outlook comes on the back of strong retail sales data over 2H17, with supermarkets, in particular, experiencing a good run-up in sales over the last few months of the year.
