CGS-CIMB upgrades SIA to 'add', positive on FY2022 recovery

businesstimes2021-12-02

CGS-CIMB has upgraded its call on Singapore Airlines (SIA) to "add" from "hold" with a higher target price of S$5.86, as it expects the flag carrier to show a strong recovery in Q3 FY2022 despite ...

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精彩评论

PearlynCSY
2021-12-02
PearlynCSY
Omicron will likely 'dominate and overwhelm' the world in 3-6 months, doctor says today. "Frankly, omicron will dominate and overwhelm the whole world in three to six months," Singapore doctor Leong Hoe Nam told CNBC's "Street Signs Asia. New vaccines targeting omicron are a "nice idea" but won't be practical because of the transmissibility of the strain, he said.
Tariqfarooq
2021-12-02
Tariqfarooq
Dont believe all this Malaysian banker. So far they are wrong 10 out 10
PC21
2021-12-02
PC21
Sure?
- Kingkong1234:
  ok
- PC21:
  doubtful...
23a2d027
2021-12-02
23a2d027
wow
ASCNMN
2021-12-02
ASCNMN
Ok
LEEQF
2021-12-02
LEEQF
Yo
- ASCNMN:
  ok

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Though a quota of 15,000 passengers daily has been imposed on VTL travel, Yap expects this figure to be increased with time.\nSIA has also said that demand for VTL flights has been very strong, and it has forecasted its available seat kilometre (ASK) passenger capacity to rise to 43 per cent of pre-Covid-19 level by Dec 31 2021F, from 33 per cent in August.\nTherefore, Yap anticipates that SIA will eventually deploy 74 per cent of the airline's pre-Covid-19 ASK capacity come FY2023.\nAdditionally, he noted that the airfreight markets remain very strong, and SIA can look forward to a very robust year-end peak season in Q4 CY2021, as well as high airfreight rates.\nOn the flipside, Yap identified potential downside risks, such as longer-than-expected shutdowns in global international travel should countries keep their travel bans and restrictions on inbound travellers to quell imported Covid-19 cases.\nAs Singapore reopens its border to more countries, the analyst expects SIA to face competition as many airlines may be eager to reinstate passenger seat capacity quickly. 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New vaccines targeting omicron are a \"nice idea\" but won't be practical because of the transmissibility of the strain, he said.","listText":"Omicron will likely 'dominate and overwhelm' the world in 3-6 months, doctor says today.&nbsp;\"Frankly, omicron will dominate and overwhelm the whole world in three to six months,\" Singapore doctor Leong Hoe Nam told CNBC's \"Street Signs Asia. New vaccines targeting omicron are a \"nice idea\" but won't be practical because of the transmissibility of the strain, he said.","text":"Omicron will likely 'dominate and overwhelm' the world in 3-6 months, doctor says today. \"Frankly, omicron will dominate and overwhelm the whole world in three to six months,\" Singapore doctor Leong Hoe Nam told CNBC's \"Street Signs Asia. New vaccines targeting omicron are a \"nice idea\" but won't be practical because of the transmissibility of the strain, he said.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/603553429","repostId":1115883908,"repostType":2,"repost":{"id":"1115883908","pubTimestamp":1638423375,"share":"https://www.laohu8.com/m/news/1115883908?lang=&edition=full","pubTime":"2021-12-02 13:36","market":"sg","language":"en","title":"CGS-CIMB upgrades SIA to 'add', positive on FY2022 recovery","url":"https://stock-news.laohu8.com/highlight/detail?id=1115883908","media":"businesstimes","summary":"CGS-CIMB has upgraded its call on Singapore Airlines (SIA) to \"add\" from \"hold\" with a higher target","content":"<div>\n<p>CGS-CIMB has upgraded its call on Singapore Airlines (SIA) to \"add\" from \"hold\" with a higher target price of S$5.86, as it expects the flag carrier to show a strong recovery in Q3 FY2022 despite ...</p>\n\n<a href=\"https://www.businesstimes.com.sg/companies-markets/cgs-cimb-upgrades-sia-to-add-positive-on-fy2022-recovery\">Web Link</a>\n\n</div>\n","source":"lsy1607307803821","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCGS-CIMB upgrades SIA to 'add', positive on FY2022 recovery\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-12-02 13:36 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.businesstimes.com.sg/companies-markets/cgs-cimb-upgrades-sia-to-add-positive-on-fy2022-recovery><strong>businesstimes</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>CGS-CIMB has upgraded its call on Singapore Airlines (SIA) to \"add\" from \"hold\" with a higher target price of S$5.86, as it expects the flag carrier to show a strong recovery in Q3 FY2022 despite ...</p>\n\n<a href=\"https://www.businesstimes.com.sg/companies-markets/cgs-cimb-upgrades-sia-to-add-positive-on-fy2022-recovery\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"C6L.SI":"新加坡航空公司"},"source_url":"https://www.businesstimes.com.sg/companies-markets/cgs-cimb-upgrades-sia-to-add-positive-on-fy2022-recovery","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1115883908","content_text":"CGS-CIMB has upgraded its call on Singapore Airlines (SIA) to \"add\" from \"hold\" with a higher target price of S$5.86, as it expects the flag carrier to show a strong recovery in Q3 FY2022 despite uncertainties surrounding the Omicron variant.\nIn a research note on Wednesday (Dec 1), analyst Raymond Yap said the revised target price of S$5.86 from S$5.81 previously is based on an unchanged target price-to-book value ratio (P/BV) multiple of 1.06 times, applied to the end-FY2023 adjusted book value per share of S$5.53.\nThe P/BV multiple of 1.06 times is 1 standard deviation above the mean since 2011 of 0.93 times.\n\"We used a P/BV that is above the mean to reflect our optimism over the meaningful reopening of international travel markets by mid-2022,\" he said.\nEven though some countries, including Singapore, have imposed fresh border control measures, Yap believes that \"there is hope\" as a South African doctor told Reuters that the Omicron symptoms are not severe.\n\"If so, nations may resume progressive reopening sooner rather than later,\" said Yap.\nThus, he expects the rapid expansion of quarantine-free travel via the Vaccinated Travel Lane (VTL) schemes to boost SIA's recovery.\nAccording to the Civil Aviation Authority of Singapore, the countries with which the Republic has launched VTLs have accounted for some 60 per cent of total daily arrivals at Changi Airport in pre-pandemic times. Though a quota of 15,000 passengers daily has been imposed on VTL travel, Yap expects this figure to be increased with time.\nSIA has also said that demand for VTL flights has been very strong, and it has forecasted its available seat kilometre (ASK) passenger capacity to rise to 43 per cent of pre-Covid-19 level by Dec 31 2021F, from 33 per cent in August.\nTherefore, Yap anticipates that SIA will eventually deploy 74 per cent of the airline's pre-Covid-19 ASK capacity come FY2023.\nAdditionally, he noted that the airfreight markets remain very strong, and SIA can look forward to a very robust year-end peak season in Q4 CY2021, as well as high airfreight rates.\nOn the flipside, Yap identified potential downside risks, such as longer-than-expected shutdowns in global international travel should countries keep their travel bans and restrictions on inbound travellers to quell imported Covid-19 cases.\nAs Singapore reopens its border to more countries, the analyst expects SIA to face competition as many airlines may be eager to reinstate passenger seat capacity quickly. As such, there could be intense competition for the incremental passenger, and passenger yields may soften, he said.\nThe resumption of transfer traffic through Changi Airport - a significant portion of SIA's pre-pandemic business - could also be slower in pace compared to point-to-point traffic, as transfer traffic depends on regulatory permissions across several national jurisdictions.\nAlso, additional passenger aircraft deployments may also cause cargo yields to fall from their currently-elevated levels as belly-hold cargo capacity is reintroduced, said Yap.\nShares of SIA were trading S$0.01 or 0.2 per cent higher at S$4.83 as at the midday break on Dec 2.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":603569345,"gmtCreate":1638428480915,"gmtModify":1638428481005,"author":{"id":"3569839700853726","authorId":"3569839700853726","name":"Tariqfarooq","avatar":"https://static.tigerbbs.com/d9eef5a1e76f57c52c6eb1ba29ff01f6","vip":1,"crmLevel":3,"crmLevelSwitch":0},"htmlText":"Dont believe all this Malaysian banker. So far they are wrong 10 out 10","listText":"Dont believe all this Malaysian banker. So far they are wrong 10 out 10","text":"Dont believe all this Malaysian banker. So far they are wrong 10 out 10","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/603569345","repostId":1115883908,"repostType":4,"repost":{"id":"1115883908","pubTimestamp":1638423375,"share":"https://www.laohu8.com/m/news/1115883908?lang=&edition=full","pubTime":"2021-12-02 13:36","market":"sg","language":"en","title":"CGS-CIMB upgrades SIA to 'add', positive on FY2022 recovery","url":"https://stock-news.laohu8.com/highlight/detail?id=1115883908","media":"businesstimes","summary":"CGS-CIMB has upgraded its call on Singapore Airlines (SIA) to \"add\" from \"hold\" with a higher target","content":"<div>\n<p>CGS-CIMB has upgraded its call on Singapore Airlines (SIA) to \"add\" from \"hold\" with a higher target price of S$5.86, as it expects the flag carrier to show a strong recovery in Q3 FY2022 despite ...</p>\n\n<a href=\"https://www.businesstimes.com.sg/companies-markets/cgs-cimb-upgrades-sia-to-add-positive-on-fy2022-recovery\">Web Link</a>\n\n</div>\n","source":"lsy1607307803821","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>CGS-CIMB upgrades SIA to 'add', positive on FY2022 recovery</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCGS-CIMB upgrades SIA to 'add', positive on FY2022 recovery\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-12-02 13:36 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.businesstimes.com.sg/companies-markets/cgs-cimb-upgrades-sia-to-add-positive-on-fy2022-recovery><strong>businesstimes</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>CGS-CIMB has upgraded its call on Singapore Airlines (SIA) to \"add\" from \"hold\" with a higher target price of S$5.86, as it expects the flag carrier to show a strong recovery in Q3 FY2022 despite ...</p>\n\n<a href=\"https://www.businesstimes.com.sg/companies-markets/cgs-cimb-upgrades-sia-to-add-positive-on-fy2022-recovery\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"C6L.SI":"新加坡航空公司"},"source_url":"https://www.businesstimes.com.sg/companies-markets/cgs-cimb-upgrades-sia-to-add-positive-on-fy2022-recovery","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1115883908","content_text":"CGS-CIMB has upgraded its call on Singapore Airlines (SIA) to \"add\" from \"hold\" with a higher target price of S$5.86, as it expects the flag carrier to show a strong recovery in Q3 FY2022 despite uncertainties surrounding the Omicron variant.\nIn a research note on Wednesday (Dec 1), analyst Raymond Yap said the revised target price of S$5.86 from S$5.81 previously is based on an unchanged target price-to-book value ratio (P/BV) multiple of 1.06 times, applied to the end-FY2023 adjusted book value per share of S$5.53.\nThe P/BV multiple of 1.06 times is 1 standard deviation above the mean since 2011 of 0.93 times.\n\"We used a P/BV that is above the mean to reflect our optimism over the meaningful reopening of international travel markets by mid-2022,\" he said.\nEven though some countries, including Singapore, have imposed fresh border control measures, Yap believes that \"there is hope\" as a South African doctor told Reuters that the Omicron symptoms are not severe.\n\"If so, nations may resume progressive reopening sooner rather than later,\" said Yap.\nThus, he expects the rapid expansion of quarantine-free travel via the Vaccinated Travel Lane (VTL) schemes to boost SIA's recovery.\nAccording to the Civil Aviation Authority of Singapore, the countries with which the Republic has launched VTLs have accounted for some 60 per cent of total daily arrivals at Changi Airport in pre-pandemic times. Though a quota of 15,000 passengers daily has been imposed on VTL travel, Yap expects this figure to be increased with time.\nSIA has also said that demand for VTL flights has been very strong, and it has forecasted its available seat kilometre (ASK) passenger capacity to rise to 43 per cent of pre-Covid-19 level by Dec 31 2021F, from 33 per cent in August.\nTherefore, Yap anticipates that SIA will eventually deploy 74 per cent of the airline's pre-Covid-19 ASK capacity come FY2023.\nAdditionally, he noted that the airfreight markets remain very strong, and SIA can look forward to a very robust year-end peak season in Q4 CY2021, as well as high airfreight rates.\nOn the flipside, Yap identified potential downside risks, such as longer-than-expected shutdowns in global international travel should countries keep their travel bans and restrictions on inbound travellers to quell imported Covid-19 cases.\nAs Singapore reopens its border to more countries, the analyst expects SIA to face competition as many airlines may be eager to reinstate passenger seat capacity quickly. As such, there could be intense competition for the incremental passenger, and passenger yields may soften, he said.\nThe resumption of transfer traffic through Changi Airport - a significant portion of SIA's pre-pandemic business - could also be slower in pace compared to point-to-point traffic, as transfer traffic depends on regulatory permissions across several national jurisdictions.\nAlso, additional passenger aircraft deployments may also cause cargo yields to fall from their currently-elevated levels as belly-hold cargo capacity is reintroduced, said Yap.\nShares of SIA were trading S$0.01 or 0.2 per cent higher at S$4.83 as at the midday break on Dec 2.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":603581761,"gmtCreate":1638427235976,"gmtModify":1638427328753,"author":{"id":"4087611507686430","authorId":"4087611507686430","name":"PC21","avatar":"https://static.tigerbbs.com/a62d208e3b3c4a550849feaa8117655b","vip":1,"crmLevel":3,"crmLevelSwitch":0},"htmlText":"Sure?","listText":"Sure?","text":"Sure?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/603581761","repostId":1115883908,"repostType":4,"repost":{"id":"1115883908","pubTimestamp":1638423375,"share":"https://www.laohu8.com/m/news/1115883908?lang=&edition=full","pubTime":"2021-12-02 13:36","market":"sg","language":"en","title":"CGS-CIMB upgrades SIA to 'add', positive on FY2022 recovery","url":"https://stock-news.laohu8.com/highlight/detail?id=1115883908","media":"businesstimes","summary":"CGS-CIMB has upgraded its call on Singapore Airlines (SIA) to \"add\" from \"hold\" with a higher target","content":"<div>\n<p>CGS-CIMB has upgraded its call on Singapore Airlines (SIA) to \"add\" from \"hold\" with a higher target price of S$5.86, as it expects the flag carrier to show a strong recovery in Q3 FY2022 despite ...</p>\n\n<a href=\"https://www.businesstimes.com.sg/companies-markets/cgs-cimb-upgrades-sia-to-add-positive-on-fy2022-recovery\">Web Link</a>\n\n</div>\n","source":"lsy1607307803821","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>CGS-CIMB upgrades SIA to 'add', positive on FY2022 recovery</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCGS-CIMB upgrades SIA to 'add', positive on FY2022 recovery\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-12-02 13:36 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.businesstimes.com.sg/companies-markets/cgs-cimb-upgrades-sia-to-add-positive-on-fy2022-recovery><strong>businesstimes</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>CGS-CIMB has upgraded its call on Singapore Airlines (SIA) to \"add\" from \"hold\" with a higher target price of S$5.86, as it expects the flag carrier to show a strong recovery in Q3 FY2022 despite ...</p>\n\n<a href=\"https://www.businesstimes.com.sg/companies-markets/cgs-cimb-upgrades-sia-to-add-positive-on-fy2022-recovery\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"C6L.SI":"新加坡航空公司"},"source_url":"https://www.businesstimes.com.sg/companies-markets/cgs-cimb-upgrades-sia-to-add-positive-on-fy2022-recovery","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1115883908","content_text":"CGS-CIMB has upgraded its call on Singapore Airlines (SIA) to \"add\" from \"hold\" with a higher target price of S$5.86, as it expects the flag carrier to show a strong recovery in Q3 FY2022 despite uncertainties surrounding the Omicron variant.\nIn a research note on Wednesday (Dec 1), analyst Raymond Yap said the revised target price of S$5.86 from S$5.81 previously is based on an unchanged target price-to-book value ratio (P/BV) multiple of 1.06 times, applied to the end-FY2023 adjusted book value per share of S$5.53.\nThe P/BV multiple of 1.06 times is 1 standard deviation above the mean since 2011 of 0.93 times.\n\"We used a P/BV that is above the mean to reflect our optimism over the meaningful reopening of international travel markets by mid-2022,\" he said.\nEven though some countries, including Singapore, have imposed fresh border control measures, Yap believes that \"there is hope\" as a South African doctor told Reuters that the Omicron symptoms are not severe.\n\"If so, nations may resume progressive reopening sooner rather than later,\" said Yap.\nThus, he expects the rapid expansion of quarantine-free travel via the Vaccinated Travel Lane (VTL) schemes to boost SIA's recovery.\nAccording to the Civil Aviation Authority of Singapore, the countries with which the Republic has launched VTLs have accounted for some 60 per cent of total daily arrivals at Changi Airport in pre-pandemic times. Though a quota of 15,000 passengers daily has been imposed on VTL travel, Yap expects this figure to be increased with time.\nSIA has also said that demand for VTL flights has been very strong, and it has forecasted its available seat kilometre (ASK) passenger capacity to rise to 43 per cent of pre-Covid-19 level by Dec 31 2021F, from 33 per cent in August.\nTherefore, Yap anticipates that SIA will eventually deploy 74 per cent of the airline's pre-Covid-19 ASK capacity come FY2023.\nAdditionally, he noted that the airfreight markets remain very strong, and SIA can look forward to a very robust year-end peak season in Q4 CY2021, as well as high airfreight rates.\nOn the flipside, Yap identified potential downside risks, such as longer-than-expected shutdowns in global international travel should countries keep their travel bans and restrictions on inbound travellers to quell imported Covid-19 cases.\nAs Singapore reopens its border to more countries, the analyst expects SIA to face competition as many airlines may be eager to reinstate passenger seat capacity quickly. As such, there could be intense competition for the incremental passenger, and passenger yields may soften, he said.\nThe resumption of transfer traffic through Changi Airport - a significant portion of SIA's pre-pandemic business - could also be slower in pace compared to point-to-point traffic, as transfer traffic depends on regulatory permissions across several national jurisdictions.\nAlso, additional passenger aircraft deployments may also cause cargo yields to fall from their currently-elevated levels as belly-hold cargo capacity is reintroduced, said Yap.\nShares of SIA were trading S$0.01 or 0.2 per cent higher at S$4.83 as at the midday break on Dec 2.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":6811892,"gmtCreate":1638428218262,"gmtModify":1638428218359,"authorId":3558034199477068,"author":{"id":3558034199477068,"authorId":3558034199477068,"name":"Kingkong1234","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":603581761,"type":1,"supId":0,"prevId":0,"content":"ok","text":"ok","html":"ok"},{"id":6811771,"gmtCreate":1638427256463,"gmtModify":1638427256543,"authorId":4087611507686430,"author":{"id":4087611507686430,"authorId":4087611507686430,"name":"PC21","avatar":"https://static.tigerbbs.com/a62d208e3b3c4a550849feaa8117655b","vip":1,"crmLevel":3,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":603581761,"type":1,"supId":0,"prevId":0,"content":"doubtful...","text":"doubtful...","html":"doubtful..."}],"langContent":"CN"},{"id":603583190,"gmtCreate":1638426980519,"gmtModify":1638426980861,"author":{"id":"3572502301692301","authorId":"3572502301692301","name":"23a2d027","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","vip":1,"crmLevel":1,"crmLevelSwitch":0},"htmlText":"wow","listText":"wow","text":"wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/603583190","repostId":1115883908,"repostType":4,"repost":{"id":"1115883908","pubTimestamp":1638423375,"share":"https://www.laohu8.com/m/news/1115883908?lang=&edition=full","pubTime":"2021-12-02 13:36","market":"sg","language":"en","title":"CGS-CIMB upgrades SIA to 'add', positive on FY2022 recovery","url":"https://stock-news.laohu8.com/highlight/detail?id=1115883908","media":"businesstimes","summary":"CGS-CIMB has upgraded its call on Singapore Airlines (SIA) to \"add\" from \"hold\" with a higher target","content":"<div>\n<p>CGS-CIMB has upgraded its call on Singapore Airlines (SIA) to \"add\" from \"hold\" with a higher target price of S$5.86, as it expects the flag carrier to show a strong recovery in Q3 FY2022 despite ...</p>\n\n<a href=\"https://www.businesstimes.com.sg/companies-markets/cgs-cimb-upgrades-sia-to-add-positive-on-fy2022-recovery\">Web Link</a>\n\n</div>\n","source":"lsy1607307803821","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>CGS-CIMB upgrades SIA to 'add', positive on FY2022 recovery</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCGS-CIMB upgrades SIA to 'add', positive on FY2022 recovery\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-12-02 13:36 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.businesstimes.com.sg/companies-markets/cgs-cimb-upgrades-sia-to-add-positive-on-fy2022-recovery><strong>businesstimes</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>CGS-CIMB has upgraded its call on Singapore Airlines (SIA) to \"add\" from \"hold\" with a higher target price of S$5.86, as it expects the flag carrier to show a strong recovery in Q3 FY2022 despite ...</p>\n\n<a href=\"https://www.businesstimes.com.sg/companies-markets/cgs-cimb-upgrades-sia-to-add-positive-on-fy2022-recovery\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"C6L.SI":"新加坡航空公司"},"source_url":"https://www.businesstimes.com.sg/companies-markets/cgs-cimb-upgrades-sia-to-add-positive-on-fy2022-recovery","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1115883908","content_text":"CGS-CIMB has upgraded its call on Singapore Airlines (SIA) to \"add\" from \"hold\" with a higher target price of S$5.86, as it expects the flag carrier to show a strong recovery in Q3 FY2022 despite uncertainties surrounding the Omicron variant.\nIn a research note on Wednesday (Dec 1), analyst Raymond Yap said the revised target price of S$5.86 from S$5.81 previously is based on an unchanged target price-to-book value ratio (P/BV) multiple of 1.06 times, applied to the end-FY2023 adjusted book value per share of S$5.53.\nThe P/BV multiple of 1.06 times is 1 standard deviation above the mean since 2011 of 0.93 times.\n\"We used a P/BV that is above the mean to reflect our optimism over the meaningful reopening of international travel markets by mid-2022,\" he said.\nEven though some countries, including Singapore, have imposed fresh border control measures, Yap believes that \"there is hope\" as a South African doctor told Reuters that the Omicron symptoms are not severe.\n\"If so, nations may resume progressive reopening sooner rather than later,\" said Yap.\nThus, he expects the rapid expansion of quarantine-free travel via the Vaccinated Travel Lane (VTL) schemes to boost SIA's recovery.\nAccording to the Civil Aviation Authority of Singapore, the countries with which the Republic has launched VTLs have accounted for some 60 per cent of total daily arrivals at Changi Airport in pre-pandemic times. Though a quota of 15,000 passengers daily has been imposed on VTL travel, Yap expects this figure to be increased with time.\nSIA has also said that demand for VTL flights has been very strong, and it has forecasted its available seat kilometre (ASK) passenger capacity to rise to 43 per cent of pre-Covid-19 level by Dec 31 2021F, from 33 per cent in August.\nTherefore, Yap anticipates that SIA will eventually deploy 74 per cent of the airline's pre-Covid-19 ASK capacity come FY2023.\nAdditionally, he noted that the airfreight markets remain very strong, and SIA can look forward to a very robust year-end peak season in Q4 CY2021, as well as high airfreight rates.\nOn the flipside, Yap identified potential downside risks, such as longer-than-expected shutdowns in global international travel should countries keep their travel bans and restrictions on inbound travellers to quell imported Covid-19 cases.\nAs Singapore reopens its border to more countries, the analyst expects SIA to face competition as many airlines may be eager to reinstate passenger seat capacity quickly. As such, there could be intense competition for the incremental passenger, and passenger yields may soften, he said.\nThe resumption of transfer traffic through Changi Airport - a significant portion of SIA's pre-pandemic business - could also be slower in pace compared to point-to-point traffic, as transfer traffic depends on regulatory permissions across several national jurisdictions.\nAlso, additional passenger aircraft deployments may also cause cargo yields to fall from their currently-elevated levels as belly-hold cargo capacity is reintroduced, said Yap.\nShares of SIA were trading S$0.01 or 0.2 per cent higher at S$4.83 as at the midday break on Dec 2.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":603514846,"gmtCreate":1638426429058,"gmtModify":1638426429385,"author":{"id":"3575240466494143","authorId":"3575240466494143","name":"ASCNMN","avatar":"https://static.tigerbbs.com/9e7cbe60e92249aab78ace30dafa5d20","vip":1,"crmLevel":4,"crmLevelSwitch":0},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/603514846","repostId":1115883908,"repostType":4,"repost":{"id":"1115883908","pubTimestamp":1638423375,"share":"https://www.laohu8.com/m/news/1115883908?lang=&edition=full","pubTime":"2021-12-02 13:36","market":"sg","language":"en","title":"CGS-CIMB upgrades SIA to 'add', positive on FY2022 recovery","url":"https://stock-news.laohu8.com/highlight/detail?id=1115883908","media":"businesstimes","summary":"CGS-CIMB has upgraded its call on Singapore Airlines (SIA) to \"add\" from \"hold\" with a higher target","content":"<div>\n<p>CGS-CIMB has upgraded its call on Singapore Airlines (SIA) to \"add\" from \"hold\" with a higher target price of S$5.86, as it expects the flag carrier to show a strong recovery in Q3 FY2022 despite ...</p>\n\n<a href=\"https://www.businesstimes.com.sg/companies-markets/cgs-cimb-upgrades-sia-to-add-positive-on-fy2022-recovery\">Web Link</a>\n\n</div>\n","source":"lsy1607307803821","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>CGS-CIMB upgrades SIA to 'add', positive on FY2022 recovery</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCGS-CIMB upgrades SIA to 'add', positive on FY2022 recovery\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-12-02 13:36 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.businesstimes.com.sg/companies-markets/cgs-cimb-upgrades-sia-to-add-positive-on-fy2022-recovery><strong>businesstimes</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>CGS-CIMB has upgraded its call on Singapore Airlines (SIA) to \"add\" from \"hold\" with a higher target price of S$5.86, as it expects the flag carrier to show a strong recovery in Q3 FY2022 despite ...</p>\n\n<a href=\"https://www.businesstimes.com.sg/companies-markets/cgs-cimb-upgrades-sia-to-add-positive-on-fy2022-recovery\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"C6L.SI":"新加坡航空公司"},"source_url":"https://www.businesstimes.com.sg/companies-markets/cgs-cimb-upgrades-sia-to-add-positive-on-fy2022-recovery","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1115883908","content_text":"CGS-CIMB has upgraded its call on Singapore Airlines (SIA) to \"add\" from \"hold\" with a higher target price of S$5.86, as it expects the flag carrier to show a strong recovery in Q3 FY2022 despite uncertainties surrounding the Omicron variant.\nIn a research note on Wednesday (Dec 1), analyst Raymond Yap said the revised target price of S$5.86 from S$5.81 previously is based on an unchanged target price-to-book value ratio (P/BV) multiple of 1.06 times, applied to the end-FY2023 adjusted book value per share of S$5.53.\nThe P/BV multiple of 1.06 times is 1 standard deviation above the mean since 2011 of 0.93 times.\n\"We used a P/BV that is above the mean to reflect our optimism over the meaningful reopening of international travel markets by mid-2022,\" he said.\nEven though some countries, including Singapore, have imposed fresh border control measures, Yap believes that \"there is hope\" as a South African doctor told Reuters that the Omicron symptoms are not severe.\n\"If so, nations may resume progressive reopening sooner rather than later,\" said Yap.\nThus, he expects the rapid expansion of quarantine-free travel via the Vaccinated Travel Lane (VTL) schemes to boost SIA's recovery.\nAccording to the Civil Aviation Authority of Singapore, the countries with which the Republic has launched VTLs have accounted for some 60 per cent of total daily arrivals at Changi Airport in pre-pandemic times. Though a quota of 15,000 passengers daily has been imposed on VTL travel, Yap expects this figure to be increased with time.\nSIA has also said that demand for VTL flights has been very strong, and it has forecasted its available seat kilometre (ASK) passenger capacity to rise to 43 per cent of pre-Covid-19 level by Dec 31 2021F, from 33 per cent in August.\nTherefore, Yap anticipates that SIA will eventually deploy 74 per cent of the airline's pre-Covid-19 ASK capacity come FY2023.\nAdditionally, he noted that the airfreight markets remain very strong, and SIA can look forward to a very robust year-end peak season in Q4 CY2021, as well as high airfreight rates.\nOn the flipside, Yap identified potential downside risks, such as longer-than-expected shutdowns in global international travel should countries keep their travel bans and restrictions on inbound travellers to quell imported Covid-19 cases.\nAs Singapore reopens its border to more countries, the analyst expects SIA to face competition as many airlines may be eager to reinstate passenger seat capacity quickly. As such, there could be intense competition for the incremental passenger, and passenger yields may soften, he said.\nThe resumption of transfer traffic through Changi Airport - a significant portion of SIA's pre-pandemic business - could also be slower in pace compared to point-to-point traffic, as transfer traffic depends on regulatory permissions across several national jurisdictions.\nAlso, additional passenger aircraft deployments may also cause cargo yields to fall from their currently-elevated levels as belly-hold cargo capacity is reintroduced, said Yap.\nShares of SIA were trading S$0.01 or 0.2 per cent higher at S$4.83 as at the midday break on Dec 2.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":603519556,"gmtCreate":1638425242478,"gmtModify":1638425367092,"author":{"id":"3572235673675008","authorId":"3572235673675008","name":"LEEQF","avatar":"https://static.tigerbbs.com/ead66a2c538631d15658309f808c7d40","vip":1,"crmLevel":3,"crmLevelSwitch":0},"htmlText":"Yo","listText":"Yo","text":"Yo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/603519556","repostId":1115883908,"repostType":4,"repost":{"id":"1115883908","pubTimestamp":1638423375,"share":"https://www.laohu8.com/m/news/1115883908?lang=&edition=full","pubTime":"2021-12-02 13:36","market":"sg","language":"en","title":"CGS-CIMB upgrades SIA to 'add', positive on FY2022 recovery","url":"https://stock-news.laohu8.com/highlight/detail?id=1115883908","media":"businesstimes","summary":"CGS-CIMB has upgraded its call on Singapore Airlines (SIA) to \"add\" from \"hold\" with a higher target","content":"<div>\n<p>CGS-CIMB has upgraded its call on Singapore Airlines (SIA) to \"add\" from \"hold\" with a higher target price of S$5.86, as it expects the flag carrier to show a strong recovery in Q3 FY2022 despite ...</p>\n\n<a href=\"https://www.businesstimes.com.sg/companies-markets/cgs-cimb-upgrades-sia-to-add-positive-on-fy2022-recovery\">Web Link</a>\n\n</div>\n","source":"lsy1607307803821","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>CGS-CIMB upgrades SIA to 'add', positive on FY2022 recovery</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCGS-CIMB upgrades SIA to 'add', positive on FY2022 recovery\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-12-02 13:36 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.businesstimes.com.sg/companies-markets/cgs-cimb-upgrades-sia-to-add-positive-on-fy2022-recovery><strong>businesstimes</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>CGS-CIMB has upgraded its call on Singapore Airlines (SIA) to \"add\" from \"hold\" with a higher target price of S$5.86, as it expects the flag carrier to show a strong recovery in Q3 FY2022 despite ...</p>\n\n<a href=\"https://www.businesstimes.com.sg/companies-markets/cgs-cimb-upgrades-sia-to-add-positive-on-fy2022-recovery\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"C6L.SI":"新加坡航空公司"},"source_url":"https://www.businesstimes.com.sg/companies-markets/cgs-cimb-upgrades-sia-to-add-positive-on-fy2022-recovery","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1115883908","content_text":"CGS-CIMB has upgraded its call on Singapore Airlines (SIA) to \"add\" from \"hold\" with a higher target price of S$5.86, as it expects the flag carrier to show a strong recovery in Q3 FY2022 despite uncertainties surrounding the Omicron variant.\nIn a research note on Wednesday (Dec 1), analyst Raymond Yap said the revised target price of S$5.86 from S$5.81 previously is based on an unchanged target price-to-book value ratio (P/BV) multiple of 1.06 times, applied to the end-FY2023 adjusted book value per share of S$5.53.\nThe P/BV multiple of 1.06 times is 1 standard deviation above the mean since 2011 of 0.93 times.\n\"We used a P/BV that is above the mean to reflect our optimism over the meaningful reopening of international travel markets by mid-2022,\" he said.\nEven though some countries, including Singapore, have imposed fresh border control measures, Yap believes that \"there is hope\" as a South African doctor told Reuters that the Omicron symptoms are not severe.\n\"If so, nations may resume progressive reopening sooner rather than later,\" said Yap.\nThus, he expects the rapid expansion of quarantine-free travel via the Vaccinated Travel Lane (VTL) schemes to boost SIA's recovery.\nAccording to the Civil Aviation Authority of Singapore, the countries with which the Republic has launched VTLs have accounted for some 60 per cent of total daily arrivals at Changi Airport in pre-pandemic times. Though a quota of 15,000 passengers daily has been imposed on VTL travel, Yap expects this figure to be increased with time.\nSIA has also said that demand for VTL flights has been very strong, and it has forecasted its available seat kilometre (ASK) passenger capacity to rise to 43 per cent of pre-Covid-19 level by Dec 31 2021F, from 33 per cent in August.\nTherefore, Yap anticipates that SIA will eventually deploy 74 per cent of the airline's pre-Covid-19 ASK capacity come FY2023.\nAdditionally, he noted that the airfreight markets remain very strong, and SIA can look forward to a very robust year-end peak season in Q4 CY2021, as well as high airfreight rates.\nOn the flipside, Yap identified potential downside risks, such as longer-than-expected shutdowns in global international travel should countries keep their travel bans and restrictions on inbound travellers to quell imported Covid-19 cases.\nAs Singapore reopens its border to more countries, the analyst expects SIA to face competition as many airlines may be eager to reinstate passenger seat capacity quickly. As such, there could be intense competition for the incremental passenger, and passenger yields may soften, he said.\nThe resumption of transfer traffic through Changi Airport - a significant portion of SIA's pre-pandemic business - could also be slower in pace compared to point-to-point traffic, as transfer traffic depends on regulatory permissions across several national jurisdictions.\nAlso, additional passenger aircraft deployments may also cause cargo yields to fall from their currently-elevated levels as belly-hold cargo capacity is reintroduced, said Yap.\nShares of SIA were trading S$0.01 or 0.2 per cent higher at S$4.83 as at the midday break on Dec 2.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":6811678,"gmtCreate":1638426433032,"gmtModify":1638426433127,"authorId":3575240466494143,"author":{"id":3575240466494143,"authorId":3575240466494143,"name":"ASCNMN","avatar":"https://static.tigerbbs.com/9e7cbe60e92249aab78ace30dafa5d20","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":603519556,"type":1,"supId":0,"prevId":0,"content":"ok","text":"ok","html":"ok"}],"langContent":"CN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":48,"commentSize":14,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":false,"deviceId":"web-server-community-laohu8-v3","version":"4.25.1","shortVersion":"4.25.1","platform":"web","vendor":"web","appName":"laohu8","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1115883908"}