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Babcock & Brown SFF
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Farmer
Master |
19-Jul-2008 19:00
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Let's keep our finger cross for B&B to maintain its current divds payout.....its an unbelievable 22-23% yield base on its last trading price!!! More light will be sheered in a month or two when they announce their Qtly results and divds guidance. Stay tune.
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terencefok
Master |
17-Jul-2008 21:02
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Buy at your own risk and pace your buying. Cheers | |||||||||||||||||||||||||||
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left_bug
Senior |
16-Jul-2008 23:53
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Gees, another new low. How low can this one go? At 0.48 good buy or not? |
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terencefok
Master |
09-Jul-2008 22:06
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Looking at Q1 cash flows and their bank balance, should be able to maintain current payout for at least the next 2 years. Dividend plays must be cash-rich to deliver their payout promises.
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samuel_ng
Member |
09-Jul-2008 14:25
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confidence is shaking a bit... | |||||||||||||||||||||||||||
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jackjames
Elite |
09-Jul-2008 14:12
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if their dividend can sustained in the next few years.. i do not mind too.. at least buying now, we are in good shape, better than fix deposit interest.. question is, is the dividen sustained ... |
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left_bug
Senior |
09-Jul-2008 13:37
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Good for you. You got it low and bad for me because I got it high. Should I buy more? | |||||||||||||||||||||||||||
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terencefok
Master |
08-Jul-2008 20:09
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I would like to highlight something which I personally feel is very important for all to note. Firstly, this counter does not in any way own any part of the few subsidiaries of the parent in Australia (such as B&B Power), rather its the parent company that owns 10% of this counter. I agree that if the parent company has any trouble, and if they need to sell any of their stake here, that would depress the price. On a brighter note, due to the price being depressed, the yield is fantastic now. Moreover, the employees themselves own 8% of this counter, a case in which people manage assets like their own rather than just for the sake of earning management fee. Recently, the company also renewed its debt facility (go check SGX announcements). Look at Sunday's papers, there is an article under the invest section which I felt was good, buying with a long term perspective and looking at the big picture. To be honest, I bought 2 lots at 0.67 and just yesterday another 4 lots at 0.545. All I can say is do your own research first, buy what you are comfortable. The bad days will soon past and the good will return. Cheers. |
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Farmer
Master |
08-Jul-2008 18:56
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Yup! This counter drop like nobody business after XD just like during the last round on Mar08. However, this time round, vol. is smaller and partly due to its parent's debt issue and the overall market sentiment. At 52cts, it's trading under its NTA, thus, can consider a buy if you still believe it can survive the current turmoil for a period of say 1-2 years and continue to deliver high divds yield of 10-20%. Should find support at ~50cts level if market condition stabilize! |
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redash
Member |
08-Jul-2008 16:01
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I am eyeing on this one... But not too sure with this counter behaviour... anyone advice? Cuz my calculation says it will reach new low of 0.15, which I think is a bit extreme... that is , my calculation I now of doesnt work radically for this counter... so nid some more insight and help thx |
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jackjames
Elite |
08-Jul-2008 14:45
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terencefok, err.. i think those who sell now (on june 16) should cheer gua..... the dividend yields now is "minus" liao lei...
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jackjames
Elite |
08-Jul-2008 14:43
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expected , expected, expected.. luckily didn't punt on this for their fat dividends, now all the dividend were wipe off kau kau.. 0.52 lowest now... this is beginning ..
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jackjames
Elite |
02-Jul-2008 10:02
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yeah, the payment is 2 months away.. but again, the money is inside your pocket already . not vested... of course.
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shplayer
Elite |
01-Jul-2008 23:07
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Payment date is 5 Sep 08.......> 2 months to wait.
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jackjames
Elite |
01-Jul-2008 20:04
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the date they will collect dividend in the pocket and cabut lari lo... | |||||||||||||||||||||||||||
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SupremeA
Veteran |
01-Jul-2008 17:26
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wads with 4 july? | |||||||||||||||||||||||||||
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left_bug
Senior |
01-Jul-2008 17:23
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0.57 is a new low. Losing big time. | |||||||||||||||||||||||||||
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jackjames
Elite |
01-Jul-2008 10:04
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expected.. today it dropped to 0.57 ...
the next date to watch would be july 4, this Friday... and from there.. the killing starts.
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Farmer
Master |
30-Jun-2008 18:00
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Babcock & Brown Refinances A$2.8 Billion of Debt (Update1)
By Stuart Kelly 
June 30 (Bloomberg) -- Babcock & Brown Ltd., Australia's second biggest securities firm, agreed to a higher interest rate on A$2.8 billion ($2.7 billion) of debt as banks waived their right to force early repayment. Bank of Scotland Plc and a syndicate of 25 banks also canceled a clause in lending agreements requiring the Sydney- based company's market value to remain above the A$2.5 billion level it plunged through this month, Babcock said in a statement. The shares jumped 18 percent after Chief Executive Officer Phil Green said he'll appoint advisers to help with assets sales to cut debt. The global credit seizure has brought into question his strategy of borrowing to buy utilities such as wind farms and bundling them into funds. ``This may instill a bit more confidence in the company,'' said Sean Fenton, who manages the equivalent of $700 million at Tribeca Investment Partners in Sydney. ``They're still operating in an environment of tight credit, soaring inflation and depressed asset prices. Babcock needs to get some good assets sales underway and repay debt.'' The stock rose A$1.14 to A$7.50 at the close in Sydney, raising the company's market value to within A$25 million of the A$2.5 billion level. Babcock shares, sold for A$5 apiece in an October 2004 initial public offering, have fallen from a A$34.78 peak in June 2007. It's among Australia's biggest casualties of a global credit contraction that's forced Allco Finance Group, Centro Properties Group and ABC Learning Centres Ltd. to sell assets to stay afloat. Libor Rate The company agreed to a 50-basis point increase in interest payments for the A$2.8 billion loan to a 200 basis point margin over a basket of benchmarks including the Libor rates for the Australian, U.S. and British currencies, spokeswoman Erica Borgelt said. A basis point is 0.01 percentage point Increased interest payments may cost as much as A$10 million a year, Green said on a conference call today. Babcock received initial bids of as much as $3 billion this month for European wind assets, including the Enersis business in Portugal, said three people with knowledge of the plan, declining to be identified as details are private. A sale, which the company expects to be concluded in the third quarter, may help restore confidence in Babcock's ability to service debt. Babcock will also repay A$400 million once recent assets sales are concluded, it said today. On June 12, Babcock's market value fell below the A$2.5 billion threshold that gave bankers the right to initiate a debt review and force early repayment. The stock slumped 24 percent the next day, capping a week that saw Babcock's market value dwindle by 53 percent. `Good Deal' ``It's a good deal to have the market capitalization clause removed because it will cut back some of the short-term pressure that would be obviously hampering the stock at the moment,'' Ken Hanton, a senior credit analyst at National Australia Bank Ltd. in Sydney, said today. As share declines accelerated, Babcock blamed short sellers for the plunge and said its business was operating as normal. Short sellers sell shares they borrow on expectations prices will fall and they can buy them back at a profit. The implosion of Babcock's market value unleashed what UBS AG analyst Jonathan Mott called a ``crisis of confidence'' among investors. Merrill Lynch & Co.'s Kieren Chidgey termed it a ``further hit to management's already fragile credibility.'' Babcock now trades at 4.1 times its estimated earnings, compared with an average ratio of almost 20 since its stock market listing, according to data compiled by Bloomberg. Babcock, founded in 1977, and the 24 investment funds it manages have combined debt of more than A$46 billion, according to Credit Suisse Group analyst James Ellis. Babcock had A$11.4 billion of debt on its own balance sheet as of Dec. 31, almost five times its equity, Bloomberg data shows. The company's debt amounted to 77 percent of assets at the end of 2007, more than double the ratio four years earlier. Shares of Babcock's 12 publicly traded funds have also plummeted, leading ABN Amro Holding NV analyst John Heagerty to predict Green may have to write down assets by as much as A$290 million this year. To contact the reporter for this story: Stuart Kelly in Sydney skelly22@bloomberg.net |
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jackjames
Elite |
30-Jun-2008 17:27
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exciting lei..yupe, tomorrow is the day , if it drops below 0.58, then, it is not worth at all to buy because of dividends... also must check the price after july 3... some people want to take dividends and sell right away.. possible too... so, 2 specific date we can see.... | |||||||||||||||||||||||||||
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