Latest Posts By ruanlai
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| 27-Jul-2011 09:28 |
Genting Sing
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It is ready to show it s true colors tomorrow.
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Beware......... Big Boy trying to exit........create a fade buy up to change hand...... Will not sustain......... |
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| 22-Jul-2011 16:52 |
CapitaMalls Asia
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Big Boys Fighting
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HEAVY WEIGHT GOING TO MOVE UP...... | ||
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| 22-Jul-2011 16:48 |
CapitaMalls Asia
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Big Boys Fighting
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Funds are flowing in to Capitaland and mal asia..... Watch out for the break up soon....... |
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| 22-Jul-2011 13:50 |
CapitaMalls Asia
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Big Boys Fighting
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DBS Vickers (Spore): CapitaMalls Asia Limited: , Lights on China, BUY S$1.46, PriceTarget : S$ 2.51 CapitaMalls Asia Limited, BUY S$1.46, Bloomberg: CMA SP Lights on China Price Target : S$ 2.51 Singapore Research Team +65 6533 9688 Munyee LOCK + 6398 7972 At a Glance · In line with expectation, with maiden interim dividend of 1.5cts · China and Singapore portfolio to further drive earnings growth · BUY call maintained, TP of S$2.51 |
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| 22-Jul-2011 10:52 |
CapitaMalls Asia
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Big Boys Fighting
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CapitaMalls Asia Steady growth in China malls CMA's mature China malls achieved strong growth in net property income. We expect income stream from China to stabilise by 2013. It has an estimated S$1bn acquisition headroom which would be deployed on immediately accretive brownfield projects. Maintain Buy. 1H11 results outperformed expectations � � strong NPI growth in its China malls. CMA recorded a S$143.3m revaluation gain mainly resulting from high valuation for its malls in Singapore and China. Excluding revaluation gains, CMA's 1H11 core EBIT stood at S$134.3m (-14% yoy) and was above expectations, at 54% of our FY11 forecasts. CMA reported PATMI of S$214m (+45.7% yoy) in 1H11, thanks to revaluation gains and� � divestment of 4 malls in Malaysia and Singapore. Lower profit from the Orchard Residences also contributed to the decline in core EBIT. The 14% yoy decrease in core EBIT was mainly due to a fall in revenue following its� � dividend payout to at least 3.0 cents per share. CMA is declaring an interim dividend of 1.5 cents per share for 1H11, bringing the full yearSteady growth in China malls � � gains, the growth was driven by stronger income contribution from its malls. On a same-mall basis, China malls which are in operation for over a year achieved a 22% net property income (NPI) growth. This was supported by growths in tenants' sales (+15.2% yoy) and shopper traffic (+10.4% yoy). CMA's China operations recorded EBIT of S$133.4m (+295% yoy). Apart from revaluation� � 7.8% (depending on the year of the malls' opening), a significant 23-56% yoy improvement. We see this as a good indication that the malls in China are growing steadily and this should translate to higher income contribution going forward. CMA's China malls also saw stellar yield improvement in 1H11. NPI yield on cost was 1.8-� � committed. Management expects a healthy 4-5% yield when the mall makes its first full year income contribution in 2012. CMA opened Minhang Plaza in Shanghai in 2Q11 and 96% of the leases have already been� � Acquisitions may be focussed on immediately accretive brownfield projects � � for its development projects in Jurong and Bedok. It has an optimal gearing level of 20-30% and this translates to an acquisition headroom of about S$1bn. As of 2Q11, CMA has a total liquidity of S$2.3bn, of which about S$1bn has been committed� � looking to acquire brownfield projects which would be immediately accretive. We see this as a positive as it hastens income contribution vis-a-vis a greenfield development which typically are loss-making in the first year of operation due to front-end costs. In China, CMA aims to increase the number of malls to 100 in 3-5 years' time. CMA will be� � China malls to fund any lumpy acquisitions. This is because its China malls have better growth potential. For instance, tenants' sales there grew 15% yoy vs 8% for Singapore malls. We believe that CMA would divest ION Orchard (worth S$1.3bn on its 50% stake) vs itsMaintain Buy, TP S$2.34 � � progress in generating income from these assets. Also, CMA is looking to do a secondarylisting in Hong Kong by year end and we believe this will increase investor base and improve liqudity for the stock. The strong NPI growth in its China portfolio in 1H11 suggests that CMA is making good� � S$2.34. The stock is currently trading at an FY11F PB of 0.9x vs its China peer average of
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| 22-Jul-2011 09:28 |
CapitaMalls Asia
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Big Boys Fighting
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CapitaMalls Asia (CMA) reported 2Q11 PATMI of S$164.9m, up 100.8% YoY versus restated 2Q10 PATMI of S$82.1m. Adjusting for revaluation gains and development profits, we estimate 2Q11 PATMI (S$22.6m) to be up 37% YoY versus 2Q10 PATMI. This came in marginally below our expectations largely due to the front-loaded expenses from mall openings. From a vintage breakdown perspective, we saw NPI yields increase across all vintages in particular, malls that opened in 2009 clocked an increase in annualized yield from 3.4% (1H10) to 5.3% (1H11), indicating a faster NPI ramp-up for newer malls, in our view. We continue to see value in CMA shares given expected tailwinds from China’s continued consumption growth and view concerns regarding a Chinese hard-landing to be overwrought at this juncture. We update assumptions and maintain a BUY rating at a fair value of S$2.09 (S$2.15 previously). (Eli Lee) | ||
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| 21-Jul-2011 08:05 |
CapitaMalls Asia
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Big Boys Fighting
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CapitaMalls Asia 2Q 2011 PATMI doubles to S$164.9 million Interim dividend of 1.5 cents per share declared Singapore, 21 July 2011 minority interests (PATMI) of S$164.9 million for 2Q 2011, a doubling of the S$82.1 million for 2Q 2010. Earnings before interest and tax (EBIT) were S$212.8 million for 2Q 2011, a 126% increase over the
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| 21-Jul-2011 08:03 |
CapitaMalls Asia
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Big Boys Fighting
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Mr Liew Mun Leong, Chairman of CapitaMalls Asia, said, “We are pleased to turn in a strong performance in the first half of this year with PATMI of S$214.0 million, on the back of strong Net Property Income growth as well as positive revaluations of our malls. In view of our strong performance
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| 20-Jul-2011 10:39 |
Genting Sing
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GenSp starts to move up again
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MA TA LAI LIAO....... CHAO AH .................... |
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| 20-Jul-2011 10:37 |
Genting Sing
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GenSp starts to move up again
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Brewing DOWN
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| 20-Jul-2011 10:35 |
Genting Sing
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Traders Lounge - Daily opportunities for everyone
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VERY DIRTY..........SHI............T.................... | ||
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| 20-Jul-2011 10:33 |
Genting Sing
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Traders Lounge - Daily opportunities for everyone
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something is going wrong....... CAD prob.......profit warning........ ALL THE BAD THINGS are going to happen soon...... FALLING KNIFEsssssssssssss |
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| 20-Jul-2011 08:59 |
HPH Trust USD
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US$0.78
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Hutchison Port Holdings (HPH) Trust - June Throughput Update - SELL (US$0.81) TP US$0.78 by Citi | ||
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| 18-Jul-2011 14:39 |
Raffles Edu
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Fall due to force selling
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Price will go down further........a lot of retail traders no money to hold..... Margin Call......Force Selling in progress...... Wanna buy cheap wait for a little long......two more days will go down to 54cents then 52 cents........ Be careful when you trade.... |
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| 18-Jul-2011 13:16 |
Ezion
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Niche services to the offshore sector
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14 July 2011: Oil and Gas sector Summary: Assuming China’s urbanization strategy remains on track, we estimate that China may become the largest driver of oil prices over the decade, and we would increasingly look to the country’s forecasted economic growth for signals in the oil price. However, the influence of speculators in the oil market has increased over the years, and volatility in oil prices may be increasingly prevalent in the future. Despite this, we believe that oil prices are likely to remain above US$75/bbl which should sustain most capital expenditure in the sector, supposing the developed economies continue their fragile economic recoveries and China’s growth remains on track. We maintain our Overweightrating in the offshore oil and gas sector given its solid long-term fundamentals. Under our sector coverage, Keppel Corporation [BUY, FV: S$13.00]and Sembcorp Marine [BUY, FV: S$6.30] remain as our preferred picks, while Ezion Holdings [BUY, FV: S$0.84] is a promising counter for investors looking at small- and mid-cap plays. |
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| 18-Jul-2011 13:09 |
Ezion
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Niche services to the offshore sector
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Action & Recommendation
Ezion certainly has demonstrated that it has the resources, capability and
balance sheet to further build on its liftboat business, which will drive
earnings beyond our current three
of 30%. While core FY11 earnings are muted due to start
will be boosted by liftboat deployments. Reiterate BUY and target price
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| 18-Jul-2011 13:06 |
Ezion
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Niche services to the offshore sector
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| Ezion Holdings - Solid platform for growth (BUY, $0.685 - TP $0.99, EZHL.SI / EZI SP, Marine) | |||
| Ezion continues to develop its liftboat business with two project-specific contracts in the last three months and the ongoing delivery of its newbuilds. Its improved capital structure allows it to take full advantage of the opportunities that its liftboat business provides. We maintain our BUY recommendation and target price of $0.99. | |||
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| 15-Jul-2011 11:10 |
Midas
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Midas
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BYE BYE Midas..... WAIT FOR YOU AT 58Cents..... |
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| 14-Jul-2011 12:04 |
Midas
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Midas
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Confirmed GAME OVER BACK TO 58Cents......SOON |
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| 13-Jul-2011 15:43 |
Raffles Edu
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Times to goes up
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HPH is moving up now..... switch from this to hph..... Hopeless RE |
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