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KEahzq
Senior |
13-Aug-2010 10:28
Yells: "Trading requires Patience and Discipline" |
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Kingsmen’s 2QFY10 net profit grew 30% yoy to $4.6m led by strong growth across all its business divisions. Notably, the group’s order book surged 50% to $187m during the quarter. New orders mainly come from interior fit-out for shops at the MBS, contracts to construct the media and broadcast facilities for the commonwealth games in India, and jobs on the extension of HK Disneyland. The strong order book momentum points to earnings upside in 2H. The group expects to be involved in the development of the 2nd and 3rd phases of the USS in the coming years. Recently, the group won a contract to work on the extension of Hong Kong Disneyland and more could follow. With various theme park projects in the pipeline, including the Shanghai Disneyland resort, and Universal Studios in Dubai, Seoul and Shanghai, we believe the group is well positioned to reap significant profits in this space. KE has a BUY with TP of $0.85 |
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KEahzq
Senior |
13-Aug-2010 10:26
Yells: "Trading requires Patience and Discipline" |
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Sembcorp Industries 2Q10 earnings grew 23.8% YoY to $161.2m and were in line with expectations, with 67% of earnings still driven by the marine biz (+26% yoy, +18% qoq) through higher margins. Utilities had a mixed performance (+8% yoy) underpinned by pick-up in Spore (+11%), China, Vietnam & UAE (+23%) ops but UK earnings (-39%) was hit by loss of some customers, weaker £, low spreads & restructuring costs. Mgmt is guiding for 15% decline in UK earnings for 2010. Moving forward, SCI is in the process of integrating 97.7% owned Cascal into its operations but does not expect any meaningful contribution from the water company until 2011. Meantime, utilities ops in China grew in 1H10 and poised to continue in 2H10; capacity expanding in ME with Salalah IWPP project to complete in 1H12 and 30% desalination capacity increase in Fujairah scheduled for completion by end 2013. SCI is also eyeing BP’s 1/3 stake in Viet power plant Phu My 3 (it already has a 1/3 stake) and may invest in a 35MW WTE plant in UK. SCI offers good prospects given its expansion pipeline and more aggressive acquisition roadmap. The possibility of SMM securing a substantial contract from Petrobras could also be a stock catalyst. Its utilities biz is currently trading at an implied stub valuation of 7x PE vs 13-15x for global peers. KE has Hold call with TP of $4.38; DB has $5.65 TP while Citigroup pin TP at $4.73. |
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KEahzq
Senior |
13-Aug-2010 10:23
Yells: "Trading requires Patience and Discipline" |
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Dry bulk: Baltic Dry Index's gained 7.5% yesterday, the best one day performance in 14 months. This was driven by capsize rents, which jumped 20% to US$29,022/ day, extending August's gain to 94%. Mkt watchers see a genuine rise in demand, as iron ore prices are starting to move again, underpinned by inventory restocking by Chinese steel manufacturers. Shipyards with dry bulk exposure - Yangzijiang, Cosco, JES. Dry bulk shipping plays - Mercator, Courage Marine, STX PO. |
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cheerfully
Member |
12-Aug-2010 22:26
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pharoah88
Supreme |
12-Aug-2010 15:35
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Thank you for the comparative analysis.
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KEahzq
Senior |
12-Aug-2010 14:54
Yells: "Trading requires Patience and Discipline" |
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Haw Par: warning from the US Food and Drug Administration (FDA) for violating manufacturing standards at its Singapore plant (ie. deficient records, incomplete lab tests, sloppy procedures, inadequately trained staff), and for ‘misbranding’ its pain-relief patch as an external painkiller, when it qualifies as a new drug and needs approval. Haw Par has 15 working days from receipt of the warning letter sent out on 20 July, to address the FDA’s concerns or its pdts may be banned from the US While there could be near term concerns, impact should be mitigated by Haw Par’s relatively low US sales exposure (S$10.5m, or 14% of healthcare sales in FY09), long track record of sales in the US since before 1998, and its ability to meet stringent health authority standards in other developed countries like Singapore, Japan, Germany, UK. |
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KEahzq
Senior |
12-Aug-2010 10:27
Yells: "Trading requires Patience and Discipline" |
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Comfort Delgro: Phillip Sec downgrades to Hold From Buy. Sees limited upside to its target of $1.73; estimates 2Q net profit at $46.4m, but warns that bus ridership, which expected to have risen in first 6 months of year, may see some erosion given opening of Circle Line in July. Results due tomorrow after market close. |
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KEahzq
Senior |
12-Aug-2010 09:56
Yells: "Trading requires Patience and Discipline" |
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OUE bought DBS Towers 1 & 2 for $870.5m or $985 psf NLA from Goldman Sach Real Estate fund, which paid DBS $690m for the 99-yr leasehold buildings in Nov 2005. The consideration represents a 13% discount to the last valuation of $1.0bn. Both towers are fully tenanted, with a total GFA of 1.24m sf & NLA of 883k sf with remaining lease of 56 yrs. Although fully leased, DBS, which occupies all of Tower 1 and almost half of Tower 2 will be relocating to MBFC in 2012. The acqn is quickly turning into a major office player in the CBD area with a combined GFA of over 3m sf & is in line with the group’s strategy to grow asset size to $10bn in next 5-7 yrs from $2.9bn in 2Q10. OUE’s office portfolio comprises One Raffles Place & its annex tower (41% stake) & OUH (100%), which is under development. Based on the rather low average monthly rent of $5.50 psf, the deal translates to an effective yield of 6.7% against current funding cost of ~4%. OUE expects DBS Buildi OUE expects DBS Building to benefit from positive rental reversions given the recovery in the office market. In view of the significant leasing risk in 2012, OUE may reposition/enhance the asset as a mixed office/retail development or redevelop it into a residential project, which could command selling prices of $2,000psf. Overall, I view this transaction as positive for OUE. OUE also reported 2Q net profit of $16.7m vs $47.8m loss a yr earlier. Revenue rose 81% to $51.7m on higher contributions from hospitality business and the new Mandarin Gallery mall. Proposes a DPS of 2¢. |
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k2kingkong
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12-Aug-2010 00:44
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Thanks very much, Cheerfully. | ||||||||||||||||||||||||||
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cheerfully
Member |
11-Aug-2010 22:17
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info extracted from CNA web site
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KEahzq
Senior |
11-Aug-2010 09:45
Yells: "Trading requires Patience and Discipline" |
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Does your broker provide you with such services and informations? | ||||||||||||||||||||||||||
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KEahzq
Senior |
11-Aug-2010 09:39
Yells: "Trading requires Patience and Discipline" |
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Both Singamas & Goodpack may be in the same container box space but the former manufactures standardised TEUs/FEUs for the contianer shipping industry as well as operates trucking & container depot biz while Goodpack leases its patented intermediate bulk containers for handling rubber, coffee & liquids such as edible oils, juices and milk. Revenue of HK-listed Singamas 3.5x larger than Goodpack.
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KEahzq
Senior |
11-Aug-2010 09:24
Yells: "Trading requires Patience and Discipline" |
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Ausgroup: profit warning. Expected to report loss for 4QJun10, although mgt guides for overall profitability for the yr. Ausgroup to take impairment charge on goodwill related to subsidiary, Cactus Engineering & Trading, which has seen declining revenue and margins amidst challenging business conditions due to the slow demand for Singapore-based fabrication and machining services for the upstream O&G sector. Results due before end Aug 2010. |
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KEahzq
Senior |
11-Aug-2010 09:19
Yells: "Trading requires Patience and Discipline" |
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Cosco announced that it has secured contracts valued over US$55m to build 2 bulk carriers of 57k dwt each, via 51% owned subsidiary, Cosco Shipyard Group. According to mgtm, the new orders are scheduled for deliveries in Sep 11 and Mar 12 respectively. This follows recent contract wins including: 2x 92.5k dwt for US$70m, 11x 57k + 4x 82k for US$440m, suggesting that order momentum remains very strong. However, the pricing of around US$27.5m per vessel reflects the current soft prices for newbuilds, which is a cause for concern. Despite seeing an improvement in its shipbuilding margin to about 6-8% in 2Q10, this is still relatively low compared to its peers such as Yangzijiang. Based on Bloomberg estimates, the stock currently trades at about 21x FY10 and 16x FY11 PER. |
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KEahzq
Senior |
11-Aug-2010 09:15
Yells: "Trading requires Patience and Discipline" |
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Golden Agri: the verification report conducted by Control Union Group and BSI Group clarifies that Greenpeace’s claims against subsidiary, PT Smart, are unfounded. The report stated that PT Smart is not responsible for deforestation of primary forests and orang-utan habitats in Indonesia, and operates responsibly and within the laws and regulations set out by the Indonesian govt The report is a good start for Golden Agri to rebuild its image, and quell customers’ concerns that it is engaged in environmentally destructive farming practices. This follows comments from Nestle and Cargill who said that they would stop doing business with PT Smart if Greenpeace’s claims were correct. Unilever, which accounted for 3% of PT Smart’s sales, has not resumed business dealings with the company yet, but will do so if PT Smart passes their own internal requirements as well. |
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pharoah88
Supreme |
05-Aug-2010 16:20
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How does Singamas compared to GOODPACK ?
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KEahzq
Senior |
05-Aug-2010 16:06
Yells: "Trading requires Patience and Discipline" |
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#Keppel Land: Nomura keeps Buy, lifts target to $4.68 from $4.30, on par with raised NAV estimate, to reflect contributions from developer's Lakeside residential project in Singapore. Also increases FY10-12 EPS estimates by 9%-37% to factor in changes in sales volume in China, Vietnam markets, higher price assumptions for remaining units of high-end Singapore condos Reflections At Keppel Bay and Marina Bay Suites, Lakeside contributions. |
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KEahzq
Senior |
05-Aug-2010 11:43
Yells: "Trading requires Patience and Discipline" |
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ChangTian- High volume today but weak candlestick action. Support 0.21/0.205 . May be an indication of a selloff if using historical price pattern as example on 7-Jan and 30-April |
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KEahzq
Senior |
05-Aug-2010 11:34
Yells: "Trading requires Patience and Discipline" |
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Eastern Asia Technology: +28.6% at 11-m high of $0.135 as interest in otherwise thinly-traded stock piqued by privatization offer worth $0.138/share from DJR International, vehicle of company's founder Liou Jeng Lin, and which owns 27.1% stake. Delisting sensible given low trading liquidity, blamed in part on digital audio-video equipment maker's dim business prospects. Co. booked 1Q10 net loss of $1.7m; expects increased labor costs due to stronger CNY, higher raw mat'l price to continue. |
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KEahzq
Senior |
04-Aug-2010 11:03
Yells: "Trading requires Patience and Discipline" |
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Sim Lian Grp: secures top bid for a site in Tampines designated for public housing under the Design, Build and Sell Scheme (DBSS). Its top bid of S$178.2m works out to about S$261/psf of potential gfa, and 22% higher than the next highest offer of S$213.62/psf ppr. The site will be sold on 103-yr leasehold tenure inclusive of a 4 yr construction period. Co plans to build about 680 flats on the plot if awarded and hopes to launch the project around 3Q11 About 60% of the units will be 4 room flats, another 25% will be 3 room flats and the remaining 15% will comprise 5 room flats. |
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