Latest Forum Topics / Keppel Land |
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Kepland
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sureesh40
Senior |
23-Oct-2009 11:03
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According to DBS Vickers their target price is $2.44 or 25% discount to RNAV. I wonder how they got this price target. Shouldn't the price be going up instead.
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dealer0168
Elite |
23-Oct-2009 10:23
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By this rate, we may see a $3 Kepland next week. Cheers. |
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Jackpot2010
Master |
23-Oct-2009 10:07
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CIMB TP $3.49. vs Kim Eng TP$3.28 & RNAV $3.64 (22 Oct) - Ride it out to >$3 then let go! Maintain Outperform; results above. Attractive valuations against its underlying assets and a strong capital structure continue to underpin our Outperform rating. We raise our FY09 core EPS by 26% but lower our FY10-11 numbers by 2-17% as we front-load our project recognition schedule. We keep our end-CY10 RNAV and target price of S$3.49. 3Q09 core net profit of S$79m was above our expectation though in line with consensus, forming 41% and 25% of our full-year forecast and the Street’s respectively. The variance came from earlier recognition of presold projects. 9M09 core net profit of S$169m forms 88% of our full-year forecast.• Improvements in all segments; 3Q09 presales yet to be booked. 3Q09 revenue grew 23% yoy to S$228m as all segments improved. While residential sales grew 16% yoy to S$164m on earlier recognition, strong sales in 3Q09 both overseas (The Botanica in Chengdu and Central Park in Wuxi) and locally (Reflections, Madison Residences and Caribbean) have yet to be booked. KepLand is making headway in China with 2,350 units sold YTD. Revenue from investment property and fund management also surprised, up 9% and 8% qoq to S$19m and S$10m respectively.• Stronger balance sheet, positive operating cash flow. Net gearing in 3Q09 declined qoq to 0.19x, boosted by strong operating cash flows from property sales. The ratio could decline further if its commercial properties under development are revalued upwards in 4Q09. An expected drain of S$290m from its commitment to KREIT’s recent cash call should be easily met. A strong balance sheet also puts KepLand in a position to replenish its domestic inventory. |
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dealer0168
Elite |
22-Oct-2009 20:58
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hope later Mr Dow perform, than we see our $3 Kepland sooooooooon | ||||
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tonylim
Master |
22-Oct-2009 20:44
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No deep pocket to buy condo or property, invest in Kepland is just as sweet
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Hulumas
Supreme |
22-Oct-2009 09:56
![]() Yells: "INVEST but not TRADE please!" |
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80% price in? | ||||
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Jackpot2010
Master |
22-Oct-2009 09:45
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Can hit >$3 soon ! Morning Bulletin 22 October 2009 - Kim Eng Top Ideas 1) Keppel Land – 3Q09 Results (Wilson LIEW, DID: 64321454)
Recommendation: BUY (maintained) Target price: $3.28 (upgraded from $3.19)
Stronger-than-expected 3Q earnings
China accounted for 21.3% of 3Q09 PATMI
Building on the sales momentum gathered in 2Q09, KepLand further sold about 900 units in 3Q09 in China, mainly in Chengdu and Wuxi, bringing the total units sold there to-date to 2,350. The sale of units elsewhere is also brisk, particularly in Vietnam and Jakarta. Overall, overseas markets accounted for 31.2% of KepLand’s 3Q09 PATMI.
Encouraging take-up for Singapore residential projects
Capitalising on renewed interest in mid-end properties, KepLand has launched and sold more than 80% of the 56-unit Madison Residences, achieving a median price of $1686 psf, exceeding our ASP assumption of $1500 psf. 7 units of the Promont (total 15 units) have also been sold at a median price of $1857 psf. We have correspondingly lowered our ASP assumption for the Promont to $1900 psf from $2000 psf.
New pre-leasing commitments at MBFC and OFC
KepLand named Servcorp as the latest tenant to sign up for 22,000 sq ft of space at MBFC Tower 2, bringing the pre-commitment level of Phase 1 (1.6m sq ft in total) to 67%. In addition, the Group also revealed that 50,000 sq ft of space has been pre-committed at the Ocean Financial Centre. While we think it’s still too early to be optimistic about the office sector, these pre-leasing announcements are quite encouraging after over half a year of stalemate.
Geographic diversification paying off, maintain BUY
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Jackpot2010
Master |
21-Oct-2009 19:53
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Business Times - 21 Oct 2009
Kep Land optimistic about property recovery By UMA SHANKARI Keppel Land, which saw economic recovery and improved market sentiment increase Q3 profit by 70 per cent year-on-year, is optimistic about the outlook for Singapore's residential and office markets. Earnings for the three months ended September 30, 2009 rose to $78.5 million, from $46.2 million a year ago. Revenue rose 23 per cent to $227.8 million from $185.8 million. In Singapore, 'the low interest rate environment and greater optimism about the economy and job market have continued to improve the market sentiments driving the housing market', Keppel Land said in a statement on Wednesday. The group is also optimistic about its prospects in overseas markets. 'Key Asian markets continued to gain momentum in the third quarter as market sentiments strengthened amid further signs of economic recovery,' the company said. Looking ahead, Keppel Land said that with a strengthened balance sheet after its rights issue raised proceeds of about $700 million, the company is well-positioned to grow through acquisitions. The group's fund management vehicles K-Reit Asia and Alpha Investment Partners are also pursuing opportunities for growth as they ride on the region's economic recovery. |
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chris168
Senior |
21-Oct-2009 19:14
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Couldn't agree more. It gave me 100% profits when I sold them in Aug. I bought a bit, 20 lots when it corrected recently.
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ozone2002
Supreme |
21-Oct-2009 18:51
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finally this "toyota" (i was advocating a buy @ $1+) is showing its BMW status ($3 and above) :) |
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yipyip
Master |
21-Oct-2009 18:49
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North side... star of tomorrow ! huat la | ||||
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dealer0168
Elite |
21-Oct-2009 18:43
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Definately a good result
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williamyeo
Senior |
21-Oct-2009 18:35
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Business Times - 21 Oct 2009 Keppel Land Q3 net profit climbs 70% By UMA SHANKARI Keppel Land on Wednesday said that Q3 net profit rose 70 per cent to $78.5 million, from $46.2 million a year ago as it booked more revenue from its projects and also saw greater contributions from its associated companies. Revenue climbed 23 per cent to $227.8 million from $185.8 million in Q3 2008. The increase was due mainly to progressive revenue recognition from a fully sold project in Singapore, The Sixth Avenue Residences, which obtained its temporary occupancy permit in August 2009. Higher revenue was also recognised for The Estella in Ho Chi Minh City and several projects in China, namely The Arcadia and Serenity Cove in Tianjin, Stamford City in Jiangyin and Villa Riviera in Shanghai. In addition, a new revenue stream from Jakarta Garden City in Indonesia, which was launched in December 2008, continued to flow in the current quarter. Also contributing to the improvement in revenue was higher revenue achieved by the group's investment properties in Singapore and Vietnam, fund management operations, and property services segment. Copyright © 2007 Singapore Press Holdings Ltd. All rights reserved. | ||||
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Bernie
Member |
21-Oct-2009 18:22
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Good result just released: http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_FB187E120A486492482576560036476B/$file/UnauditedResultsfortheNineMonthsended30Sep2009.pdf?openelement Positive action tomorrow? |
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dealer0168
Elite |
20-Oct-2009 22:33
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Tomorrow result out loh......... Hope is GOOD one. Than $3 may be coming soon. Cheers. |
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freeman_5js
Senior |
19-Oct-2009 20:47
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sweet ! hope its a gd result | ||||
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dealer0168
Elite |
19-Oct-2009 18:35
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Good results may see it cheong above $3. ![]() Cheers. |
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dealer0168
Elite |
19-Oct-2009 18:30
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Watch out, Kepland results out s ![]() ![]() |
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dealer0168
Elite |
18-Oct-2009 19:34
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Next week results for Kepland maybe a good one as well. As reports saying that Sep09 property sale is good as well. |
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yipyip
Master |
18-Oct-2009 13:27
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Temasek units raise stake in Keppel Land By The Edge Temasek Holdings, the Singapore government-owned investment company, was involved in a couple of transactions through its subsidiaries, according to SGX filings last week. On Oct 1, the company acquired 715,013 shares of Keppel Land through its indirect wholly owned subsidiary Fullerton Management and DBS Group Holdings. The purchase of the shares raised its deemed stake in Keppel Land to 52.9%, based on the company’s issued share capital of 1.41 billion shares as at Oct 1. More than a week ago, Keppel Land, partly owned by Keppel Corp, the world’s No 1 oil-rig maker, announced that it had issued 8.7 million new shares in connection with the proposed voluntary delisting of China-based property developer Evergro Properties. Keppel Land, which had an 85.4% stake in Evergro, says the delisting will help the company streamline its growth strategy in China. |
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