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SPH
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WanSiTong
Master |
19-Jul-2013 11:08
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Someone quietly collecting SPH @ 4.28 !! | ||||
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Octavia
Elite |
19-Jul-2013 09:38
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According to a DB rpt on SPH's Jun adex, the 14% y/y surge to $215m was the largest since Feb 2012. This was driven by a 24% jump in TV adex – a magnitude of increase unseen since 2011. As such, the Jun TV adex was $15m higher than a year ago. Radio adex was also robust, posting a 23% y/y growth while Cinema and Posters grew 36% and 20% respectively, albeit from smaller bases. In comparison, Jun’s Newspaper adex growth was fairly subdued (but stable) at 4%. Overall, print adex was up 5% y/y to $92m. Based on current run-rates, DB estimate SPH booked c.$65m ad revenues in the first month of 4Q13e. Along with the $571m reported 9M13 ad revenues, this would imply YTD advertising revenues are broadly in line with full year forecast of $781m. Management recently highlighted their commitment to re-invest the REIT IPO proceeds into four growth areas – property, magazines, exhibitions and digital. There was also commitment to maintain SPH’s dividend yield. But post the property spin-off, the underlying SPH stock would essentially be a structurally challenged media asset. DB maintain HOLD with TP of $4.09 which reflects anticipation of the special dividend and resulting near-term share price support. |
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WanSiTong
Master |
17-Jul-2013 16:47
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Hoot some using CPF
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WanSiTong
Master |
17-Jul-2013 16:20
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More buyers Q......... | ||||
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WanSiTong
Master |
17-Jul-2013 15:29
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18 cents special dividend coming soon.......... follow by Oct 13 year end dividend of at least 17 cents........... 
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WanSiTong
Master |
17-Jul-2013 14:54
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SINGAPORE PRESS HOLDINGS LAUNCHES S$504 MILLION INITIAL PUBLIC OFFERING OF SPH REIT A HIGH QUALITY RETAIL PROPERTY PORTFOLIO, ANCHORED BY PARAGON, ONE OF SINGAPORE’S MOST ICONIC RETAIL MALLS
The Public Offer will open at 6.00 p.m. on 17 July 2013 and will close at 12.00 noon on 22 July 2013. Listing and trading of SPH REIT’s units on the SGX-ST is expected to commence at 2.00 p.m. on 24 July 2013. Offering of 308,884,000 Units priced at the top end of the range at S$0.90 per Unit Institutional investors’ indications of interest during the book building process amounted to approximately 42 times the number of Units offered under the Placement Tranche Offering Price represents a distribution yield of 5.79%1 for the Projection Year FY2014Singapore, 17 July 2013 – Singapore Press Holdings Limited |
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Octavia
Elite |
17-Jul-2013 10:05
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SPH cites that its dividend policy will be maintains post Reit IPO. DB believes the proposed special dividend will provide near-term share price support, maintains its HOLD rating with TP of $4.09 based on SOTP. Proceeds of $700m from Reit IPO will be used in property, magazines, exhibitions and digital. For property, SPH will focus on retail assets, with potential acquisitions up to $500-600m in size. Going forward in a 5-year horizon, SPH will remain as a media-focused business. SPH has the intention to develop both the print and online advertising platforms, but conceded it was relatively difficult to monetize digital opportunities. DB believe management continues to seek opportunistic acquisition of profitable online businesses but may be limiting further development of in-house capabilities. |
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WanSiTong
Master |
16-Jul-2013 10:12
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In fact SPH should do it long ago to adopt the standard accounting policy (SAP). I notice that there are still a few Cos adopting the Cost Method. Their assets are undervalued!
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orangejuice01
Member |
16-Jul-2013 09:20
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Very creative way to realise the value of assets - Fair Value accounting (balance sheet) gains while. Profit Operations (P/L) declined. | ||||
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Octavia
Elite |
16-Jul-2013 09:19
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Despite a muted set of results, most brokers believe that the group’s share price in the near-term could be supported by the anticipation of a special dividend, following its widely anticipated REIT Spin-off, although we note that any near-term positives from the spin-off would have likely been already priced in, after the group lodged its prospectus with MAS. At current price, SPH trades at 19x forward P/E, with an estimated 9.3% yield which is inclusive of a special dividend for FY13. Latest broker ratings as follow: Maybank KE downgrade to Hold from Buy with $4.50 TP Deutsche maintains Hold with $4.09 TP Nomura neutral with $4.28 TP UOB Kay Hian maintains Hold with $4.25 TP Maybank KE downgrade to Hold from Buy with $4.50 TP |
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Octavia
Elite |
15-Jul-2013 22:23
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PUBLISHED JULY 15, 2013 SPH net profit up 81% including one-off items BY MICHELLE QUAH Singapore Press Holdings Limited (SPH) saw its net profit attributable to shareholders come in at $187.5 million for the third quarter ended May 31, 2013 - 80.7 per cent higher than the $83.8 million in the corresponding quarter last year. The latest quarter's results included one-off items, namely a fair value gain of $111.4 million arising from change in recognition of investment properties from cost to fair value basis, and a $26.2 million impairment loss on certain investments. Excluding the effect of one-off items, SPH said its net profit for the quarter was $100.5 million - 3.1 per cent lower than the year-ago period. On the outlook for the year, SPH CEO Alan Chan said: " The group's advertising revenue performance will be driven by market conditions and consumer sentiment in the key advertising sectors. The group will continue its strategy to invest in online media and pursue growth opportunities, while striving to sustain its core newspaper business." |
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pineapple123
Member |
15-Jul-2013 22:00
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the results are actually not too great if you dont factor in the one off gains. slower growth. | ||||
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WanSiTong
Master |
15-Jul-2013 21:04
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Results for the Third Quarter ended May 31, 2013 Profit after Tax : $ 190m ($107m same period last Yr) 13.3 The Group’s retail properties, Paragon and The Clementi Mall, are fully leased and continue to turn in a steady performance. The development of Seletar Mall is in progress and is expected to be completed at the end of 2014. |
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Richman
Veteran |
15-Jul-2013 14:53
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It is better to have a basket of stock for dividend just like your portfolio Thanks & Rgds
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Goldfinger
Member |
14-Jul-2013 21:10
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Wonder if analysts take into account that SPH is only selling Paragon on a 99-year lease to the REIT, and it will revert to SPH after 99 years. Interesting to know how this (eventual) freehold ownership will be valued in SPH's books. Love this counter, and holding a fair amount. Also gives year-end dividends usually a few days just before Christmas.. |
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WanSiTong
Master |
14-Jul-2013 20:33
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Sleep on newspaper and " jar buoy leow" !
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Dividend_Warrior
Senior |
14-Jul-2013 18:46
Yells: "I am getting $1100 per month in dividends :)" |
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No wonder ur username is 'Richman'......LOL
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WanSiTong
Master |
14-Jul-2013 16:31
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Wow ! just this counter alone you collect $ 24,000 a year (Ave $ 2k PM). Very good passive income ! Can retire oredi !
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Dividend_Warrior
Senior |
14-Jul-2013 08:39
Yells: "I am getting $1100 per month in dividends :)" |
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No worries. Seletar Mall coming next year!
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Aberdeen123
Senior |
14-Jul-2013 00:51
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Print business revenue may be no good this coming result.UBS has a TP @4.08. |
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