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Kepland
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hp3000
Senior |
23-Jul-2009 21:52
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TWO new residential projects will soon be launched by property developer Keppel Land (KepLand) in an indication of the rebound in market sentiment. The firm has yet to launch any residential projects this year, unlike other developers which have launched projects week after week in recent months to capitalise on the new-found optimism. KepLand said yesterday it will be launching luxury projects Madison Residences in Bukit Timah and The Promont at Cairnhill Circle in the next two months. This comes only four months after it made the decision to defer the construction of Madison Residences in March, citing weak market conditions. The Promont is due for completion this year, said the firm. Group chief executive Kevin Wong said yesterday at its financial results briefing that as markets in the region improve, ‘we will accelerate our project launches in Singapore, China and Vietnam to achieve faster returns’. The firm posted a 10.4 per cent increase in net profit to $58.2 million for the three months ended June 30, compared to the same quarter last year. Revenue came in at $250 million for the second quarter, up 34.4 per cent from a year ago due to progressive sales from launched projects in Singapore such as Park Infinia at Wee Nam and The Tresor at Duchess Road. Keppel Land’s growing footprint overseas also helped to boost turnover, as sales from projects in China and Indonesia were registered. Overseas earnings accounted for 30 per cent of net profit, compared to 18 per cent for the same quarter last year, said KepLand. The firm is determined to expand its presence in China, recently announcing its proposal to delist Evergro, a China-focused property group, to merge both entities. It had offered 29 cents per share – a 16 per cent premium over Evergro’s last traded share price of 25 cents on the Friday before the announcement. Shareholders can also opt for one new Keppel Land share for every seven Evergro shares they own. This plan will allow KepLand to ‘tap on combined operational expertise, industry knowledge and extensive networks’ for expansion in China, said Mr Wong. KepLand had raised some $708 million in a fully subscribed, nine-for-10 rights issue at $1.09 a share in June. This has improved the firm’s borrowing position, and it is now looking for land to buy, said its finance chief Lim Kei Hin. For the first half of this year, net profit was down 15.8 per cent at $95.1 million from the same period last year because of poorer first-quarter sales arising from lower revenue recognition for projects in Singapore and overseas. Overall, turnover was down 13.8 per cent at $395.6 million compared to the first half of last year. Earnings per share for the half-year ended June 30 was 8.2 cents, down from 11.1 cents previously. Net asset value per share stood at $2.29 as at June 30, compared to $3.39 as of Dec 31, 2008. Keppel Land is still holding back on the Marina Bay Suites project and may launch it if the market improves further. Keppel Land shares closed 7 cents up at $2.61 today.  |
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NEWBAB
Member |
23-Jul-2009 19:45
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If i haven't vested in Kepland, consider high risk to buy now though all of you are aiming at $3 lvl? Thanks for your advice in advance.
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dealer0168
Elite |
23-Jul-2009 19:38
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Kepland is moving up slowly n steady Fr this circumstances, Kepland may enter the league of above $3 again. Hope Kepland don't disappoint us. | |||
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DnApeh
Master |
23-Jul-2009 18:11
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KepC broke 771 resistance. hold tight. Next resist 9+
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Livermore
Master |
23-Jul-2009 18:08
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Frankly I don't bother too much with analyst recommendation. Whether the price can sustain uptend, one can see from buy volume
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erictkw
Veteran |
23-Jul-2009 17:10
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DJ MARKET TALK: OCBC Ups Keppel Land To Hold, Ups Target 61.5% 0752 GMT [Dow Jones] STOCK CALL: OCBC Investment Research upgrades Keppel Land (K17.SG) to Hold from Sell, raises target price to S$2.60 from S$1.61 after increasing RNAV estimate to assume higher selling prices for residential projects, reflect current market valuations of units K-REIT Asia (K71U.SG), Evergro Properties (D7M.SG). Raises ASP forecasts for projects in Singapore by 5.3%-51.3% given improved private home demand. Expects prices of projects in China to rise 10% vs previous forecast for decline of 20%-40%. But adds, no reason for stock to head higher for now as office market fundamentals remain weak. Suggests entry if price pulls back to S$2.10-S$2.20. Stock +3.2% at S$2.62. (FKH) |
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ronleech
Master |
23-Jul-2009 13:14
Yells: "Believe in yourself. Ride with the waves......" |
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Monitor the pass few days trading and buying pattern and volume bro. Dun just look at the graph alone. Ppl wont pour in money for nothing...even analyst with 1st hand infor also overturn in drain let alone ppl like me, an iakn billi......
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dealer0168
Elite |
23-Jul-2009 13:08
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Kepland Investor, another Buy CALL from another analyst: Keppel Land: Buy (DMG, 23 July) |
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solar2008
Senior |
23-Jul-2009 11:24
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Still holding some at based price 1.22. Will buy back again when pull back to a comfortable range. |
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wongmx6
Veteran |
23-Jul-2009 11:24
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I support you, Keppel Family is good for long, Keppel Corp have few new activities recently, Oil Rig, Properties after selling SPC. Today, i in again Keppel Corp and land although price is rather high.
Don't care!!! aim for long.
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maxcty
Master |
23-Jul-2009 11:17
Yells: "always a learning day for me in trading" |
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out so fast? not going for long term?? I tot this counter still got plenty room to go up??
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dealer0168
Elite |
23-Jul-2009 11:09
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Today UOB post their analsyes for Kepland: Keppel Land (BUY/S$2.54/Target: S$3.10)1H09: Strong sales due to improved sentiments. |
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solar2008
Senior |
23-Jul-2009 11:05
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Has hit >70 RSI..will start to pull back. Me out liao. Pocket 20% profit. | |||
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maxcty
Master |
23-Jul-2009 11:03
Yells: "always a learning day for me in trading" |
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haha..Capitaland still can cheong today..but not keppland... | |||
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AK_Francis
Supreme |
23-Jul-2009 11:00
Yells: "Happy go lucky, cheers." |
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As usual, once pre n post Cheong Arrrr's brain tearing would be subsided liao. Unless, the local ppty sees bright light in near term, not speculation. |
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maxcty
Master |
23-Jul-2009 10:51
Yells: "always a learning day for me in trading" |
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not much movement today...maybe in afternoon... | |||
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shawaw
Member |
23-Jul-2009 08:57
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comon ... no empty talk please ..... what is "I think it will ...." ... what are the facts ? | |||
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ronleech
Master |
23-Jul-2009 08:53
Yells: "Believe in yourself. Ride with the waves......" |
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Watch out for Keppel corp...i think something cooking.....watch out for local property firm and reit... i think it will "shoot" up sharply within this few sessions... | |||
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patricklaupt
Member |
23-Jul-2009 08:49
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Hi, Does anyone know what was the volumn distribution for Kepland yesterday (Jul 23)? Was there a lot of high-volumn sell down in the late afternoon? Any comment on the price action? Thanks. | |||
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el7888
Veteran |
22-Jul-2009 23:03
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