$SINGTEL(Z74.SI)$by dbs research1QFY22 numbers are towards the upper end of our expectations• Singtel's 1QF22F underlying net profit of S$451m (+31% y-o-y) was towards the upper end of our estimate of S$430m-S$450m• Sharp recovery in Australia, profit turnaround of Bharti and stabilization of Singapore were key drivers. • Maintain BUY with unchanged TP of S$3.01 for over 28% upside potential and 3.6% yieldSingtel's 1QF22F underlying net profit of S$451m (+31% y-o-y) was towards the upper end of our estimate of S$430m-S$450m and comprised 22% of our full year estimate. What stood out was a big rise in Australia consumer operating profit to S$44m (excluding National Broadband Network migration revenue) compared to S$26m in 4Q21 and operating loss of

$Lion-OCBC Sec HSTECH S$(HST.SI)$falling wedge breakout and retest. Possible bottom forming.

$HOTUNG INVESTMENT HLDGS LTD(BLS.SI)$Earnings up 4x

$SEMBCORP MARINE LTD(S51.SI)$Sembcorp Marine expects losses to continue for FY21 given worker shortage1. In the May 3 update, the group notes that supply chain constraints and a shortage of skilled workers continue to be a challenge, as ongoing border controls prevent foreign workers from countries such as India and Bangladesh from returning to Singapore.2. On its renewable energy sector, SembMarine highlights the contract it jointly secured with GE Renewable Energy’s Grid Solutions during the quarter for a high voltage direct current (HVDC) electrical transmission system for the Sofia Offshore Wind Farm. The HVDC system represents Sofia’s second-largest contract and is worth approximately GBP600 million ($1.12 billion).3. SembMarine is also curren

$WILMAR INTERNATIONAL LIMITED(F34.SI)$Wilmar International's net profit doubles to US$450.2 mil, highest for 1Q1. Wilmar International has reported net profit of US$450.2 ($597.0 million) for the 1QFY2021 ended March, around double the net profit of US$224.1 million in the corresponding period the year before.2. The quarter's net profit is the group's highest first quarter since its listing.3. “We achieved good results to start the year in a challenging market environment. We will continue to strengthen our existing operations and build new complementary businesses which will help in our long-term growth,” says the group in an April 29 statement.4. “The sustained high palm oil price is expected to benefit our Oil Palm Plantation business in the com

$SINGTEL(Z74.SI)$$STARHUB LTD(CC3.SI)$Reason for weakness these 2 daysDisney shutting down 13 pay-TV channels in Singapore from Oct 11. Disney will be shutting down 13 pay-television channels currently available in Singapore from Oct 1, as part of the company's efforts "to pivot towards a direct-to-consumer-first model and further grow (its) streaming services".2. The 13 channels are Fox, Fox Crime, Fox Life, Fox Action Movies, Fox Family Movies, Fox Movies, FX, Fox Sports, Fox Sports 2, Fox Sports 3, Channel V, Nat Geo People and SCM Legend.3. The news comes two months after Disney's streaming platform Disney+ was launched in Singapore on Feb 23.4. Singtel, which carries all 13 affected channels on its pay

$CITY DEVELOPMENTS LIMITED(C09.SI)$CDL-MCL Land tie-up makes top bid of $445.9m for Farrer Park residential site1. The first residential government land sales (GLS) tender for 2021 - a plum site in the Farrer Park area - closed on Tuesday (April 27) evening after attracting 10 bids and a robust bid price that showed developers' hunger for land.2. City Developments (CDL) and joint venture partner MCL Land, through their wholly-owned units Maximus Residential SG and Maximus Commercial SG, emerged the top bidder at $445.9 million. This is only 5.7 per cent higher than the second highest bid of $421.9 million.3. The top bid of $1,129 per sq ft per plot ratio (ppr) is at the upper end of analysts' estimates. It is also higher than that of another GLS si

$BUKIT SEMBAWANG ESTATES LTD(B61.SI)$$CITY DEVELOPMENTS LIMITED(C09.SI)$CDL, Bukit Sembawang and UOL are analysts' top picks amid brisk March property sales1. The robust primary sales reported in March poses a double-edged sword for listed developers, say DBS Group Research analysts Derek Tan and Rachel Tan. The pair’s note comes after the property market saw a record quarter in the 1Q2021 with sales of around 3,400 units.2. The strong transaction volumes, including a record quarter in transaction volumes for resale HDB homes, say the analysts, are positive for property agencies such as APAC Realty. DBS has rated APAC Realty at “buy” with a target price of 61 cents.3. The developers within the bank’s covera

$Lion-OCBC Sec HSTECH S$(HST.SI)$just need to break 1.17 neckline and the bottom is behind us 

$PROPNEX LIMITED(OYY.SI)$PropNex’s 3Q21 earnings more than doubles to $14.4 mil1. Real estate agency PropNex has reported earnings of $14.4 million for the 3QFY2021 ended September, 2.1 times higher than the $6.76 million recorded the previous year.2. The higher earnings come on the back of higher revenue, which surged 98.8% y–o-y to $234.41 million for the 3Q. Revenue was mainly driven by higher commission income from agency services of around $67.5 million and from project marketing services of approximately $48.9 million, as a result of the recovering economy which lead to higher transactions completed.3. Nonetheless, the group is projecting a total of close to 13,000 private new homes (excluding executive condominiums) and over 18,000 private r