At the same time, the team has removed Sea Limited, Keppel Corporation (SGX:BN4
) and Capitaland Ascott Trust (CLAS). Sea was removed as the team is expecting the company to post quarterly losses from its upcoming results while Keppel and CLAS were removed due to their respective lack of share price catalysts.
The Singapore research team at UOB Kay Hian has added SIA Engineering (SIAEC), Singapore Telecommunications (SGX:Z74) (Singtel), Food Empire Holdings (SGX:F03) , Frencken Group (SGX:E28) Limited and Far East Hospitality Trust (SGX:Q5T) (FEHT) to its November 2023 Alpha Picks portfolio.
SIAEC was added as the analysts expect to see higher earnings and a dividend recovery from the company while Singtel was included for its defensive and improving business fundamentals. The team expects to see improvements in Food Empire’s valuation from its upcoming dual listing on the Hong Kong exchange (HKEX) while Frencken’s earnings, which bottomed out in the 1HFY2023 ended June 30, is expected to improve sequentially. Finally, the team has included FEHT as it is a beneficiary of the upcoming tourist arrivals in Singapore.
