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Wealthy investors eyeing undervalued O&M stocks: report
One big-cap is a potential outperformer.
Investors in Hong Kong and Malaysia are looking to oversold offshore and marine names as the way to profit from the Singapore market, a report by CIMB revealed.
"Most of the investors we met during our marketing in Hong Kong and Malaysia were receptive of our view that the under-owned offshore & marine names could be the
way to play the Singapore market, as oil prices sustain at the current level," CIMB noted.
While CIMB remained neutral on the sector's overall prospects, the report highlighted that Sembcorp Marine is a potential outperformer as it is a direct proxy to ride the oil price upturn.
Apart from O&M names, investors are also interested in stocks which would benefit from the US dollar's strength, as well as undervalued consumer stocks.
In sum, CIMB reported that there is slightly warmer interest in Singapore stocks from international investors, as the rally in the local market made the STI the strongest performer in the region.
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