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11-Jun-2009 09:31

Keppel Land / Kepland

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Another new to share out:

“Sharp 20% recovery in prices”

Bank of America-Merrill Lynch's report dated June 8 said: “We are forecasting a sharp 20% recovery in the Singapore residential market from trough which we expect to occur in 3/4Q 2009."

This should support share price momentum for Singapore developers in the next 6-12 months as stocks, which are highly correlated to residential pricing, lead moves in the physical market, it added.

”We believe the sector will continue to re-rate as visibility of pricing growth improves.”

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11-Jun-2009 09:22

Keppel Land / Kepland

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Emm a news to share out.

DMG: Upgrade property to OVERWEIGHT, Top Buy CDL. Buy KepLand and CapLand

DMG & Partners has turned bullish on property, upgrading the sector yesterday (June 10) to OVERWEIGHT, on the back of (1) bottoming of physical prices in 1Q09, (2) narrowing mid to prime price differential driving interest in prime properties, (3) evidence of mass market volume flowing to mid and prime properties and (4) a return of foreign buying interest.

”On the ground, confidence is now strong, evidenced by a shift from fleeting enquiries three months ago, to immense demand, particularly for launches over the past three weeks,” said its analyst, Brandon Lee.

While property stocks have already risen 91.4% quarter-on-quarter and 18.3% month-on-month, there is still strong upside potential for the blue chip developers, he said.

”We set our target prices at a 0 – 20% premium to revised RNAV.”

The research house’s top buy is City Developments (S$9.09, TP: S$12.34), while Keppel Land (S$2.48, TP: S$2.98) and CapitaLand (S$3.67, TP: S$4.22) are ‘buys’.

DMG expects capital values to recover 8% and 17% in 2009 and 2010 amid improved physical market dynamics.

“We estimate that physical prices bottomed in 1Q09, the same quarter developers cleared inventories by lowering prices 10 –30%. A favourable takeup together with higher secondary market prices resulted in sharp upward price adjustments by developers in 2Q09, but this has not dampened demand.

Furthermore, supply for the next three years has plunged 41.5% year-on-year, reducing concerns over a supply glut.

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11-Jun-2009 00:19

Neptune Orient L Rg / NOL

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NOL laying eggs. Wow so long, still no news of CR.

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11-Jun-2009 00:12

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

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Emm where u get info STI can hit at least 3000. If i interpret yr statement wrongly, feel free to correct me.

bola_no1 ( Date: 10-Jun-2009 22:14) Posted:

We are not very far. 600 more only.

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10-Jun-2009 21:38

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

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An article that sound quite positve, cheers.

Singapore’s economic slump to soften in Q2, says survey

Written by Thomson Reuters

Singapore’s economy is expected to shrink at a slower pace in the rest of 2009 after a record annual contraction in the first three months of this year as analysts believe the worst might be over.

With a smaller annual contraction seen in the later quarters of the year, a survey by Singapore’s central bank projected gross domestic product, or the value of all goods and services produced, to fall 6.5% in 2009 compared with growth of 1.1% in 2008.

The survey of 19 private-sector economists showed GDP would shrink 7.7% in the second quarter, 6.6% in the third and 1.2% in the last from a year earlier, compared with a 10.1% contraction in the first quarter.

“The consensus is the worst is now behind us, the question remains how strong the rebound will be,” David Cohen of Action Economics, also a contributor to the survey, said. “We expect to see a quarter-on-quarter rise for the rest of the year,” he said. He projected GDP in the April-June period would grow nearly 1% on a seasonally adjusted basis from the January to March period.

Singapore’s economy shrank at an annualised and seasonally adjusted rate of 14.6% in the first quarter, a fourth consecutive quarterly contraction. A negative GDP reading in the second quarter would be the third year-on-year contraction.

If the economy started recovering in the second half of the year, the government said in May that full-year GDP could shrink 6%, at the high end of its forecast for a 6 to 9% contraction.

The survey predicted the Singapore dollar, which the central bank uses as its main policy tool by managing it against a secret basket of trade-weighted currencies, would slip slightly by the end of the year to 1.466 per US dollar.

The local unit was trading at 1.519 per US dollar at the end of March and 1.4461 at 2:40 p.m.

Non-oil domestic exports are expected to fall 14.1% in 2009, compared to an actual contraction of 7.9% in 2008, the survey said.

Manufacturing is seen shrinking 14% in 2009 after a decline of 4.1% last year.

Consumer prices are also expected to fall in 2009 by 0.5% after rising 6.5% in 2008, said the survey.

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10-Jun-2009 19:54

Keppel Land / Kepland

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Both analyst info & our own homework are equally important.

(my point of view)

solar2008 ( Date: 10-Jun-2009 19:11) Posted:

Do your own analysis. Rely on analyst reports will lead you to Holland.

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10-Jun-2009 17:30

Pacific Andes / Discussion Corner for PACIFIC ANDES RIGHT

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Hope for best tomorrow as well.

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10-Jun-2009 17:29

Keppel Land / Kepland

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Hope got good news to indicate that STI index can cross the 2400 borders & proceed to another height.

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10-Jun-2009 17:24

Keppel Land / Kepland

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Actually can't gauge right now. But got very strong feel tomorrow STI will drop.

We are almost near 2400 again (human fear factor may at work again).

Today those who vest in Kepland, i worry we may see a drop in price tomorrow.

Let continue the monitoring tomorrow.

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10-Jun-2009 14:58

Pacific Andes / Discussion Corner for PACIFIC ANDES RIGHT

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You can see there are quite a few companies who have raised cash during this time using various means (maybe in the form of RIGHT). Yes they maybe in needs of money.

But think of it in another way. What these companies are doing might not neccesarily be a bad thing for the future. By raising cash, their net borrowing decreases. Companies are placing themselves in a position for the faster future recovery.

Not really like what u say company operation not working. If operation not working, they may go bankrupt....

Hi maybe let take Capitaland as a good example after their Right issue.

pharoah88 ( Date: 10-Jun-2009 14:39) Posted:

When a company needs RIGHTS for Working Capital, the company's Operations are NOT Working. Otherwise, every company would issue RIGHTS. WHO is the JOKER using RIGHTS for working capital!? It is just like borrowing money to pay for Daily Groceries, Utilities and Rents!

When a company makes profits, it is CASH FLUSH.

The company will either issue BONUS SHARES or Distribute CASH BACK.

Check out TM (Telecom Malaysia) which just CASH BACK MYR1.00 for every share to its shareholder.

That is AWESOME CORPORATE GOVERNANCE.

Where got such thing as using RIGHTS for Working Capital?

Every company must sustain its Opertaional CASH INFLOW as Working Capital and for Dividend Payment and Most of all for AWESOME CASH BACK.

What happened to the Operational CASH INFLOW when a company made sales and especially profits?

So, WHERE are the SALES REVENUE and PROFITS?

Are they just PAPER REVENUE and PAPER PROFITS if they are NOT in CASH?

I hope NOT.

TODAY, CASH is KING and NOTHING ELSE!

REMEMBER!

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10-Jun-2009 13:53

Pacific Andes / Discussion Corner for PACIFIC ANDES RIGHT

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PAH are swimming up again. Good results so far for first half. Hope second half is even better.

Cheers.

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10-Jun-2009 13:49

Keppel Land / Kepland

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Wow u buy in at quite high price.

Emm why not keep them fr long terms. Selling them now will mean lost....

Kepland share price will definately goes up high again, but we need to wait patiencely.

amilytan ( Date: 10-Jun-2009 09:43) Posted:

Let say Buy it at 2.82

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10-Jun-2009 10:49

CapitaLand / Capitaland

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News fr CapitaLand. Emm, i thk some more correction to this baby.

CapitaLand Ltd: Leveraging on China’s growth story

By Foo Sze Ming
Wed, 10 Jun 2009, 09:07:04 SGT

Earlier this week, CapitaLand (CapLand) announced that it had secured RMB25b (S$5b) of credit lines from two Chinese banks – Bank of China and Industrial and Commercial Bank of China. While the securing of new credit lines is positive for CapLand’s China operations, we believe that CapLand’s strong balance sheet and strength in capital management have already been reflected in its share price. At current price level, we believe that accretive acquisitions will be the key for re-rating of CapLand’s shares. We have raised our RNAV estimate of CapLand from S$2.95 to S$3.34, on the back of improved valuations of its listed investments and lower discount rate. Our RNAV discount on CapLand (previously 30% discount) has also been removed, on the back of better outlook for its China operations. As such, our fair value of CapLand has now been raised from S$2.43 to S$3.34. We maintain our HOLD rating on CapLand.

Secured RMB25b credit lines from Chinese banks. Earlier this week, CapitaLand (CapLand) announced that it had secured RMB25b (S$5b) of credit lines from two Chinese banks – Bank of China and Industrial and Commercial Bank of China. New credit lines will give CapLand direct access to a significant amount of RMB funding which will help to support CapLand’s growing operations in China. As at end 1Q09, assets in China accounted for 28.2% of CapLand’s total assets (ex-cash) and with the funding support, CapLand is well-positioned to achieve its targeted 40%-45% of total assets from China. Recent improvement in the China property market could also be sustainable, as backed by China’s improving economy, urbanization trend and supportive government policies and CapLand should benefit with its significant exposure in China.

Acquisitions needed for re-rating. While the securing of new credit lines is positive for CapLand’s China operations, we believe that CapLand’s strong balance sheet and strength in capital management have already been reflected in its share price which is currently trading at a premium to its peers. With credit market thawing, there is now less incentive to hoard cash, which generates low returns to shareholders. We are now looking beyond the strength of CapLand’s balance sheet and focusing our attention on the value that CapLand can generate through the deployment of its funds. At current price level, we believe that accretive acquisitions will be the key for re-rating of CapLand’s shares.

Maintain HOLD. We have raised our RNAV estimate of CapLand from S$2.95 to S$3.34, on the back of improved valuations of its listed investments and lower discount rate that is in line with the higher risk appetite for equities. While recent buying sentiment in the Singapore property market has improved, we think that it is still early for us to raise our selling price assumptions for CapLand’s landbank, which has a significant exposure to the high-end segment, as the bulk of the sales had come from the mass market segment and had also been largely driven by aggressive price cutting by developers. Nevertheless, we are now removing our RNAV discount on CapLand (previously 30% discount), on the back of better outlook for its China operations. As such, our fair value of CapLand has now been raised from S$2.43 to S$3.34. We maintain our HOLD rating on CapLand and will turn buyers of CapLand at price level of S$3.00 to S$3.10.

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10-Jun-2009 09:27

Keppel Land / Kepland

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Depend on the pricing u got for yr Kepland share.

amilytan ( Date: 10-Jun-2009 08:49) Posted:

So, what is your advice? Sell first then buy back later after dilution?

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10-Jun-2009 08:26

Keppel Land / Kepland

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Yes. N that my worst case guess fr this baby.

Although there is dilution to the share, but the cash obtained fr the RIGHT activities boost up the company war chest .N by raising cash, their net borrowing decreases. Companies are placing themselves in a position for the future recovery. In another word, it is actually a good move or a positive news to investor. Thus for Kepland share price to be bady down due to the dilution (to around $1.09), i will thk not quite possible .

Emm unless Kepland badly managed the cash obtained from RIGHT (which i thk will not be).

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09-Jun-2009 22:26

Keppel Land / Kepland

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Btw the $2 to $2.20 is my worst case value. Smiley

dealer0168 ( Date: 09-Jun-2009 22:21) Posted:

If $1.09 comes, emm that means STI index clash badly again. $1.09 should not come back again.

At most, my guess will be around $2 to $2.20.

Let see HLJHLJ & the rest got any comment on it.......

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09-Jun-2009 22:21

Keppel Land / Kepland

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If $1.09 comes, emm that means STI index clash badly again. $1.09 should not come back again.

At most, my guess will be around $2 to $2.20.

Let see HLJHLJ & the rest got any comment on it.......

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09-Jun-2009 20:54

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

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An interesting post (maybe a good news) fr US to share:

Nobel Winner Krugman Sees U.S. Recession Ending Soon (Update1)
By Courtney Schlisserman

June 8 (Bloomberg) -- The U.S. economy probably will emerge from the recession by September, Nobel Prize-winning economist Paul Krugman said.

“I would not be surprised if the official end of the U.S. recession ends up being, in retrospect, dated sometime this summer,” he said in a lecture today at the London School of Economics. “Things seem to be getting worse more slowly. There’s some reason to think that we’re stabilizing.”

U.S. stocks erased an earlier decline after Krugman made his comments. The Standard & Poor’s 500 Stock Index was little changed at 939.14 at 4:07 p.m. in New York after slumping as much as 1.5 percent earlier, and the Dow Jones Industrial Average gained 1.36 points to 8,764.49.

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09-Jun-2009 19:29

Keppel Land / Kepland

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Thks. Yup, notice to rank change today as well. Smiley

E-war ( Date: 09-Jun-2009 18:59) Posted:

Yeah, actually dun really mind if it takes a slower growth rate up. Better if it rises steadily then cheong up and down like that. By the way dealer, congratulations on your 'level up'(I hope I'm right. Can't rem clearly). Haha...

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09-Jun-2009 18:45

Neptune Orient L Rg / NOL

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CR don't come soon, we may see the RIGHT value soon ($1.30)......

Let hope CR is this week.

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