ShareJunction - Member Posts

Back

Latest Posts By yummygd - Supreme

About yummygd

First < Newer 2201-2220 of 4476 Older> Last

25-Mar-2011 09:40

Straits Times Index / STI to cross 3000 boosted by long-term investors

Go to Message

x 0

4th day gain...none stop up...later after lunch will be profit taking or not

Good Post Bad Post

25-Mar-2011 09:39

GMG Global / GMG CHIONG tomoro -Flash floods hit southern Thail

Go to Message

x 0

good vol n plus price steady maybe i should hop on this instead of yingli

Good Post Bad Post

25-Mar-2011 09:36

China Gaoxian / ChinaGaoxian

Go to Message

x 0

i wanna load at 0.38 lei plus didnt fly n be top ten vol how to play. haiz. maybe monday. if gao xin come on next week this baby will fly to 0.4 sure one

knightrider ( Date: 25-Mar-2011 09:30) Posted:

Up 1cent la ! Yesterday S$0.38, now S$0.39 !

yummygd ( Date: 25-Mar-2011 09:19) Posted:

innocent Ying Li day shadowed due to this suspensed s chip haiz....

Good Post Bad Post

25-Mar-2011 09:19

China Gaoxian / ChinaGaoxian

Go to Message

x 0

innocent Ying Li day shadowed due to this suspensed s chip haiz....

Good Post Bad Post

25-Mar-2011 09:11

Ying Li Intl / Fund flying in

Go to Message

x 0

tsk tsk a day short. stupid gao xin

Good Post Bad Post

25-Mar-2011 09:10

Global Logistic / GLP

Go to Message

x 1

x 0

glp ipo for more den six months liao dude

GuavaXF30 ( Date: 25-Mar-2011 09:06) Posted:

Probably just new IPO syndrom. Now a days, new IPO's likey to fall for about a month or so before seeing daylight. Think can drop some more.

chriscyng ( Date: 24-Mar-2011 23:11) Posted:

why GLP drop again? any news?

Good Post Bad Post

25-Mar-2011 06:50

Ying Li Intl / Fund flying in

Go to Message

x 0

Brokers' Take

YING Li has sold 16,000 sq m of office space at the International Financial Centre in Chongqing city at a better-than-expected average price of 24,000 yuan ($4,600) per sq m, with a further 4,000 sq m to be sold. Once topping-out of the office block is completed in April or May, the group can launch its retail and office space for rental income, which should flow in from 2012 onwards.

Ying Li is launching phase one of residential unit sales at the Da Ping project at the end of 2011, as well as various retail, office and further residential unit phases for Da Ping in 2012. The group's Wu Yi Road project, a mixed retail and office project in the CBD, will be launched in 2012 and completed in 2013 while the Lu Zu project, also a mixed retail and office project in the CBD, should be launched in 2013 and completed in late 2014.

With about one million sq m of developments to be sold or launched for rental - about two-thirds of which is retail or office space - over the next four years, we continue to like Ying Li's prospects as a retail and commercial property proxy play for Chongqing city.

Maintain 'buy', with TP at $0.52 or 40 per cent discount to RNAV. Our RNAV estimate in yuan terms is raised by 5 per cent to 9.6 billion yuan, but as the Sing dollar has strengthened over the yuan in the last six to nine months, our RNAV estimate for Ying Li in Sing-dollar terms remains the same at $0.87.
BUY

Starhill Global Reit
March 24 close: $0.62
OCBC Investment Research, March 24

STARHILL Global Reit has announced its plan to embark on asset redevelopment of Wisma Atria to boost the mall's positioning along Singapore's Orchard Road. The first phase of the redevelopment will commence in Q1 FY11 and is expected to be completed by Q3 FY12.

The asset redevelopment will unveil an ultra-sleek frontage for Wisma Atria, highlighted by double-storey store fronts designed to showcase the latest flagship stores of international retailers. There will be full width steps spanning the facade of Wisma Atria, which will improve accessibility and also provide a permanent flood control measure, doing away with mechanical flood barriers. In addition, there are strategically located ramps and walkways leading to the new shop-fronts from the surrounding malls and the nearby Orchard Road MRT station.

Phase one of Wisma Atria's asset redevelopment is expected to incur capital expenditure of about $31 million and generate an additional net property income of about $2.5 million per annum when stabilised, representing a return on investment of about 8 per cent. The cost of the asset redevelopment works will be funded from the proceeds of the rights issue completed in 2009 and/or working capital. We view this positively, in terms of both higher occupancy and rental rates following the enhancements in 2012.

In Japan, Starhill has seven malls located in central Tokyo, which contributed 4.6 per cent of total gross revenue and 6.6 per cent of portfolio value as at Dec 31, 2010. So far, Starhill has announced that there is no known damage to the malls based on preliminary reports by its property managers.

Nonetheless, we expect retail sales in Japan to be impacted, on the back of electricity rationing in Tokyo which will affect business operations in the near term, as well as an anticipated dent in tourist shopper numbers in the medium term, following Japan's nuclear fiasco and the risk of radioactivity exposure.

We thus revise our FY11/FY12 gross revenue estimates for Japan properties down by 5 per cent to adjust for declining sales and rental income. Our sensitivity analysis also shows that a 5 per cent drop in the rental income of Starhill's Japan assets will decrease its fair value by 0.4 cent.

We noted that Starhill's assets in Singapore, Malaysia, Australia and China still constituted the majority portion (93.4 per cent) of its portfolio. Starhill is currently trading at a P/B ratio of 0.66 times, which is lower than its historical P/B of 0.73 times since listing.

Notwithstanding that the Japan crisis has bitten into Starhill's earnings, we still believe in its prime assets positioning, strong sponsor and sound financials. Maintain 'buy' with a decreased fair value of $0.69 (with price upside of 12.2 per cent).
BUY

- Compiled by LYNETTE KHOO

Glossary:

Ebit - earnings before interest and tax
Ebitda - earnings before interest, tax, depreciation and amortisation
EPS - earnings per share
FY - fiscal/financial year
H1, H2 - first or second half
m-o-m - month on month
NAV - net asset value 9M - nine months
P/B - price/book value (ratio)
PE - price/earnings (ratio)
Q1, Q2, Q3 - first, second, or third quarter
q-o-q - quarter-on-quarter
RNAV - revised net asset value
ROE - return on equity
TP - target price
y-o-y - year-on-year

Disclaimer: All analyses, recommendations and other information herein are published for general information. Readers should not rely solely on the information published and should seek independent financial advice prior to making any investment decision. The publisher accepts no liability for any loss whatsoever arising from any use of the information published herein.

Brokers who wish to send in their reports can email us at btnews@sph.com.sg