ShareJunction - Member Posts

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Actually economy got recover, so people rushing in to do parking. Maybe worry no chance to get at cheap............

Up are caused by investor (the long term pal), down are caused by trader (the short term pal)..... (my opinion)

Emm maybe we can interpret that more people are investing than just pure short term trading. Bc they are more positive.

Anyway let see how the road to the recovery..................

idesa168 ( Date: 22-Jul-2009 23:24) Posted:

Actually I am surprised that the bulls are still around to fight the bear after charging up so much. Usually the smart money would have exited the mkt by now and left with the bear haunting the mkt. Perhaps this couls be the last breadth of the bulls or could it be a renewed breadth...hahaha!

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Today Dow maybe a flat day...............

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I just worry on their refinancing issue. Other than that , Rickmer is a good company.

dealer0168 ( Date: 22-Jul-2009 22:44) Posted:

Ooo u so confident. Btw, when Rickmer result announced.....

lawcheemeng ( Date: 22-Jul-2009 22:40) Posted:

thks in that case very soon we will get upgrade for rickmer too. hear this one got higher DPU. as they took delivery of new vessel in April and lease out liao. will contribute to 2qtr earning.

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Ooo u so confident. Btw, when Rickmer result announced.....

lawcheemeng ( Date: 22-Jul-2009 22:40) Posted:

thks in that case very soon we will get upgrade for rickmer too. hear this one got higher DPU. as they took delivery of new vessel in April and lease out liao. will contribute to 2qtr earning.

dealer0168 ( Date: 22-Jul-2009 22:36) Posted:

Hi Chee Meng, here is the link to the news. Fresh one loh......

http://www.ocbcresearch.com/Article.aspx?type=research&id=20090722161852_51656

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only cigarettess...meh. No kiss kiss fr yr boss ah Handon. Cheers man, joking with u lah haha.

Hit 9000, emm i thk not so soon. Maybe next week.

handon ( Date: 22-Jul-2009 22:07) Posted:

zhun boh... my boss will be unhappy leh....

then no cigarettes for me liao.... hehe... Smiley

smartrader ( Date: 22-Jul-2009 21:47) Posted:

will test 9000 tonight...

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Hi Chee Meng, here is the link to the news. Fresh one loh......

http://www.ocbcresearch.com/Article.aspx?type=research&id=20090722161852_51656

lawcheemeng ( Date: 22-Jul-2009 22:33) Posted:

dealer168 where u dig this piece of report from may i know .thks

dealer0168 ( Date: 22-Jul-2009 21:06) Posted:

FSL Trust: Finally looking sustainable – upgrade to BUY.

By Meenal Kumar
Wed, 22 Jul 2009, 16:18:56 SGT

At 2Q results, FSLT introduced longer-term DPU guidance – the trust is targeting a payout of 1.5 US cents per quarter or around 50% of free cash flows. We expect loan-to-value covenant concerns to become a non-issue once discussions with lenders conclude, but at a price. Here lenders look to be demanding a new amortizing strategy and likely higher interest margins. In our opinion, the new payout policy is finally a realistic number. FSLT now looks more like a viable long-term investment vehicle for serious shipping trust investors. Unitholders should constrain their expectations to a stable stream of income as further growth, in our view, will require fresh equity. Our updated discounted FCFE value for FSLT is S$0.84 (10% discount rate, prev: S$0.83). We ascribe a 10% “industry uncertainty” discount to reach a fair value estimate of S$0.76 (prev: S$0.58). This implies a total return of about 28% (15% upside, 13% yield). We like FSLT because of its 1) new more sustainable business model; and 2) its diversified vessel mix of containers, tankers and dry bulk carriers. For these reasons, FSLT is now our top pick for the sector. Upgrade to BUY.

New amortizing strategy. FSL Trust’s 2Q results were in line with our expectations. As per guidance, 2Q DPU is 2.45 US cents. Key for us: FSLT has introduced longer-term DPU guidance from 3Q09 onwards – the trust is targeting a payout of 1.5 US cents per quarter or around 50% of free cash flows. Retained cash will principally be used to prepay loans. We understand this new guidance is driven by discussions with lenders. We expect loan-to-value covenant concerns to become a non-issue once these discussions conclude. Everything has a price of course, and here lenders look to be demanding a new amortizing strategy and likely higher interest margins. Our new assumptions: 1) FSLT will pay down around US$35m of debt every year; 2) all-in interest costs will rise from about 5.25% to 5.85%. This is subject to revision when the actual agreement is finalized and disclosed.

Finally looking sustainable. 3Q DPU is down to even below IPO levels (with 13 vessels then versus 23 now). Unitholders will have to accept that this reduced payout is the hangover after the 100% payout “party” they have enjoyed for so long. A consolation – in our opinion, this is finally a realistic number. Right since when we initiated coverage over a year ago, we have been saying the trust’s aggressive payout was unsustainable. With this new approach, FSLT now looks more like a viable long-term investment vehicle for serious shipping trust investors.

Expect stability, not growth (without new equity). We reiterate that the time for steadily accelerating DPU has gone. Meaningful DPU growth will necessitate acquisitions – but in our opinion, any new vessel buys would need to be financed on the back of fresh equity. Consequently, unitholders should constrain their expectations to a stable stream of income based on the 50% payout regime.

Upgrading to BUY. Our updated discounted FCFE value for FSLT is S$0.84 (10% discount rate, prev: S$0.83). In our view, the balance sheet side of the trust’s challenges is mostly resolved (with conditions/pricing still uncertain). The other concern that remains (industry-wide) is counterparty risks. We ascribe a 10% “industry uncertainty” discount to reach a fair value estimate of S$0.76 (prev: S$0.58). This implies a total return of about 28% (15% upside, 13% yield). We like FSLT because of its 1) new more sustainable business model; and 2) its diversified vessel mix of containers, tankers and dry bulk carriers. For these reasons, FSLT is now our top pick for the sector. Upgrade to BUY.

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Emm..... DOW seems like recovering slowly...........

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BTW is from OCBC analyst.

dealer0168 ( Date: 22-Jul-2009 21:12) Posted:

CapitaCommercial Trust: 1H DPU of 3.33 S cents after rights issue

Summary: CapitaCommercial Trust posted S$99.97m in gross revenue in 2Q09, up 34.4% YoY and up 2.6% QoQ. Distributable income of S$48m represented a 33.2% YoY and 5.8% QoQ increase. 1H DPU comes to 3.33 S cents after adjusting for the right issue. The distributable income and DPU are respectively 17.6% and 17.7% above the forecast issued by CCT in the circular to unitholders dated 9 June 2008, respectively, after adjusting for the issued rights units. This translates to an annualized distribution yield of 7.6% based on 21 Jul’s closing price of S$0.88 per unit. CCT disclosed that it had signed new leases and renewals for about 4.1% of portfolio NLA in the months of May and Jun 2009, with rents about 45% higher than previously signed on a weighted average basis. Portfolio occupancy is at 96.2% versus 96.7% a quarter ago. S$664m of the proceeds from the rights issue have already been used to repay borrowings; reducing CCT’s gearing to 31% as of 3 July 2009. We have a BUY rating on CCT with fair value of S$0.96. (Research Team)

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CapitaCommercial Trust: 1H DPU of 3.33 S cents after rights issue

Summary: CapitaCommercial Trust posted S$99.97m in gross revenue in 2Q09, up 34.4% YoY and up 2.6% QoQ. Distributable income of S$48m represented a 33.2% YoY and 5.8% QoQ increase. 1H DPU comes to 3.33 S cents after adjusting for the right issue. The distributable income and DPU are respectively 17.6% and 17.7% above the forecast issued by CCT in the circular to unitholders dated 9 June 2008, respectively, after adjusting for the issued rights units. This translates to an annualized distribution yield of 7.6% based on 21 Jul’s closing price of S$0.88 per unit. CCT disclosed that it had signed new leases and renewals for about 4.1% of portfolio NLA in the months of May and Jun 2009, with rents about 45% higher than previously signed on a weighted average basis. Portfolio occupancy is at 96.2% versus 96.7% a quarter ago. S$664m of the proceeds from the rights issue have already been used to repay borrowings; reducing CCT’s gearing to 31% as of 3 July 2009. We have a BUY rating on CCT with fair value of S$0.96. (Research Team)

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FSL Trust: Finally looking sustainable – upgrade to BUY.

By Meenal Kumar
Wed, 22 Jul 2009, 16:18:56 SGT

At 2Q results, FSLT introduced longer-term DPU guidance – the trust is targeting a payout of 1.5 US cents per quarter or around 50% of free cash flows. We expect loan-to-value covenant concerns to become a non-issue once discussions with lenders conclude, but at a price. Here lenders look to be demanding a new amortizing strategy and likely higher interest margins. In our opinion, the new payout policy is finally a realistic number. FSLT now looks more like a viable long-term investment vehicle for serious shipping trust investors. Unitholders should constrain their expectations to a stable stream of income as further growth, in our view, will require fresh equity. Our updated discounted FCFE value for FSLT is S$0.84 (10% discount rate, prev: S$0.83). We ascribe a 10% “industry uncertainty” discount to reach a fair value estimate of S$0.76 (prev: S$0.58). This implies a total return of about 28% (15% upside, 13% yield). We like FSLT because of its 1) new more sustainable business model; and 2) its diversified vessel mix of containers, tankers and dry bulk carriers. For these reasons, FSLT is now our top pick for the sector. Upgrade to BUY.

New amortizing strategy. FSL Trust’s 2Q results were in line with our expectations. As per guidance, 2Q DPU is 2.45 US cents. Key for us: FSLT has introduced longer-term DPU guidance from 3Q09 onwards – the trust is targeting a payout of 1.5 US cents per quarter or around 50% of free cash flows. Retained cash will principally be used to prepay loans. We understand this new guidance is driven by discussions with lenders. We expect loan-to-value covenant concerns to become a non-issue once these discussions conclude. Everything has a price of course, and here lenders look to be demanding a new amortizing strategy and likely higher interest margins. Our new assumptions: 1) FSLT will pay down around US$35m of debt every year; 2) all-in interest costs will rise from about 5.25% to 5.85%. This is subject to revision when the actual agreement is finalized and disclosed.

Finally looking sustainable. 3Q DPU is down to even below IPO levels (with 13 vessels then versus 23 now). Unitholders will have to accept that this reduced payout is the hangover after the 100% payout “party” they have enjoyed for so long. A consolation – in our opinion, this is finally a realistic number. Right since when we initiated coverage over a year ago, we have been saying the trust’s aggressive payout was unsustainable. With this new approach, FSLT now looks more like a viable long-term investment vehicle for serious shipping trust investors.

Expect stability, not growth (without new equity). We reiterate that the time for steadily accelerating DPU has gone. Meaningful DPU growth will necessitate acquisitions – but in our opinion, any new vessel buys would need to be financed on the back of fresh equity. Consequently, unitholders should constrain their expectations to a stable stream of income based on the 50% payout regime.

Upgrading to BUY. Our updated discounted FCFE value for FSLT is S$0.84 (10% discount rate, prev: S$0.83). In our view, the balance sheet side of the trust’s challenges is mostly resolved (with conditions/pricing still uncertain). The other concern that remains (industry-wide) is counterparty risks. We ascribe a 10% “industry uncertainty” discount to reach a fair value estimate of S$0.76 (prev: S$0.58). This implies a total return of about 28% (15% upside, 13% yield). We like FSLT because of its 1) new more sustainable business model; and 2) its diversified vessel mix of containers, tankers and dry bulk carriers. For these reasons, FSLT is now our top pick for the sector. Upgrade to BUY.

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If Rickmers results is good n no refinancing issue, i may consider join in the club...........

Quite a good company actually.

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Emm should not be. U see UOL price...............also higher than Kepland. Kepland should be above $3 stock. Now too cheap. (my opinion)

arowana1 ( Date: 22-Jul-2009 19:26) Posted:

price already moved up so much... i suspect it will be a case of sell on news.

dealer0168 ( Date: 22-Jul-2009 19:11) Posted:

fly liao fly liao...... Smiley

HUAT ah

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China penny stock...... maybe. As majority of the results out that duration.

Hulumas ( Date: 22-Jul-2009 19:15) Posted:

I remember August is a penny stock month, since rotational interest of stock picking is commencing.

Andrew ( Date: 22-Jul-2009 16:11) Posted:

Thank you July..........Yahooooooo.........Hello August.....

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Is good or bad.....

petertan4949 ( Date: 22-Jul-2009 18:01) Posted:

be careful, most likely this cunning chap(Wee) intend to take the coy provate.

rodney301 ( Date: 22-Jul-2009 09:48) Posted:

does anyone know of what possibility??? Smiley

why would UOL want to buy back so many shares from open market??? could it be that the coming quarter earnings be TOO SURPRISING??? Smiley

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fly liao fly liao...... Smiley

HUAT ah

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Keppel Land (KPLD SP), the property development arm of Keppel Corp, added 2% to $2.54. The company said at the end of trading second-quarter net income rose 10% to $58.2 million.

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Osim turns around with $5m profit

Written by The Edge Singapore

Wednesday, 22 July 2009 18:37

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Wow, no wonder it reach 0.905 than drop bk to square one.....haha.

Must be u lah.

freeme ( Date: 22-Jul-2009 16:04) Posted:

result nt bad.. but decided to dump it.. wasted too much time on it

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Wow matthew, u concentrate alot of firing power on shipping stock. Salute to u. U are my hero.

matthewsoh ( Date: 02-Jun-2009 17:07) Posted:

My target is 100 lots and still 30 lots away...

This is my golden hens ... Remember every lots can collect USD$90 ( current situation) annually. As long as there are shipping around ... and we are buying at a good price ...

I am also into NOL now giving up on COSCO haha cos Temasek is doing the RIGHT magics again... We will see 2 dollar stock for NOL soon just like kepland , charter and capitaland haha

freeme ( Date: 02-Jun-2009 16:30) Posted:

haha thats the way man.

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Emm this baby move fast without reason leh..........look like manipulate by BB.

Hahaha, passing comments.

Maybe will go beyond 0.60. haha, passing comment again.