Top Stories
Company Update | Oiltek International (OTEK SP/BUY/S$1.60/Target: S$2.78)
We hosted Oiltek recently, and management provided updates on its expansion strategy. Going forward, Oiltek will continue to pursue growth through a strong pipeline of SAF projects, JVs and new ventures. In addition, the HOA announced in Apr 26 is progressing well. Maintain BUY with an unchanged target price of S$2.78, pegged to 28x 2027F PE.
Market Spotlight
• US stocks were lower on Monday, with all indexes falling as the healthcare, materials and industrials sectors slid with more decliners than advancers on both the NYSE and NASDAQ.
• The FSSTI fell 10.48 points to 5,498.95, supported by weakness in Singtel, SIA and DBS, with both mid- and small-cap indices rising with a broad market decline on a S$1.70 b turnover.
Technical Analysis
Beng Kuang Marine | BKM SP
Trading Buy Range: S$0.500-0.505
Frasers Centrepoint Trust | FCT SP
Trading Buy Range: S$2.26-2.27
Top Stories
Company Update | Oiltek International (OTEK SP/BUY/S$1.60/Target: S$2.78)
We hosted Oiltek recently, and management provided updates on its expansion strategy. Going forward, Oiltek will continue to pursue growth through a strong pipeline of SAF projects, JVs and new ventures. In addition, the HOA announced in Apr 26 is progressing well. Maintain BUY with an unchanged target price of S$2.78, pegged to 28x 2027F PE.
Market Spotlight
• US stocks were lower on Monday, with all indexes falling as the healthcare, materials and industrials sectors slid with more decliners than advancers on both the NYSE and NASDAQ.
• The FSSTI fell 10.48 points to 5,498.95, supported by weakness in Singtel, SIA and DBS, with both mid- and small-cap indices rising with a broad market decline on a S$1.70 b turnover.
Technical Analysis
Beng Kuang Marine | BKM SP
Trading Buy Range: S$0.500-0.505
Frasers Centrepoint Trust | FCT SP
Trading Buy Range: S$2.26-2.27
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