Elevator Pitch
Singapore-listed systems integrator CSE Global Limited (CSYJY) (CSYJF) [CSE:SP] currently trades at an undemanding 9.0 times consensus forward FY2020 P/E, which represents a discount to the stock's historical five-year forward average P/E of approximately 12 times. The stock also offers a trailing dividend yield of 5.7% based on a consistent annual payout of S$0.0275 per share for the past five years.
CSE Global's near-term growth is supported by recurring revenue from its flow business, new order wins, and acquisitions. Looking ahead, a recovery in crude oil price leading to