28 October 2014

Wing Tai 1Q15 Report Summary - October 2014

Wing Tai reported revenue of S$160M with net profit attributable to shareholders of S$24M (about 15% net profit margin) for its 1st quarter ended 30 September 2014. The net profit is on par compared to corresponding quarter last year although total revenue dropped 28% against last year, thanks to the increase of shares of associated and joint venture companies.

Balance sheet wise, the group recorded total assets of S$4.9 Billion with total equity of S$3.0 Billion. This translates to a healthy total debts to total asset ratio of below 40%. The development properties stood at S$1.5 Billion, with investment properties S$0.6 Billion and Investment in associated companies & JV at S$1.3 Billion. I believe that the group still largely allocate its business in investment (whether in associated / JV or in properties) to help cushion during the slowdown of property market in Hong Kong and Singapore.

Raffles Medical 3Q14 Quarterly Report Summary - October 2014




Singapore, 27 October 2014 – RafflesMedicalGroup, (“Group”) a leading integrated private healthcare provider in Singapore and the region recorded a 11.1% growth in revenue from S$85.1 million in Q3 2013 to S$94.5 million in Q3 2014. 

23 October 2014

KL-SG High Speed Rail Project - 7 Stops to be Confirmed - October 2014


SINGAPORE - The high-speed rail (HSR) project connecting Singapore and Kuala Lumpur will have seven stops in Malaysia, namely Kuala Lumpur, Putrajaya, Seremban, Ayer Keroh, Muar, Batu Pahat, and Nusajaya.
While several of the proposed stations had been announced earlier, the location of the stations were confirmed on Wednesday by Malaysia's Land Public Transport Commission chairman, Syed Hamid Albar.
- See more at: http://www.straitstimes.com/news/singapore/transport/story/singapore-kuala-lumpur-high-speed-rail-have-seven-stops-malaysia-2014#xtor=CS1-10


My Notes

Previously Malaysia Transport Minister announced that there were 5 stops in between KL and SG, namely Putrajaya, Seremban, Kuala Lumpur, Batu Pahat and Nusajaya apart from another terminal located at Singapore (most probably at Jurong lake district as announced by Singapore prime minister LHL). Some of us quite surprised that Muar and Malacca (Ayer Keroh) were not in the list. 

21 October 2014

Keppel Land 3Q2014 Report Summary - October 2014





Recycling of Assets Lifts Profits
  • Net profit dropped marginally by 3.3% y-o-y at $308 million on lower contribution from property trading
  • Contributions from property investment and fund management rose, accounting for a higher share of 34.4% and 15.8% of net profit respectively
  • Net tangible asset per share rose to $4.59, 10.6% higher compared with $4.15 as at end-September last year
  • Net debt/equity ratio improved to 0.37x
The Group recorded net profit of $308 million for the first nine months of 2014, down marginally by 3.3% year-on-year (y-o-y). As part of its continuing efforts to recycle capital, Keppel Land divested Equity Plaza and received a net gain of $59.5 million. The gain from the sale of Equity Plaza and a share of Keppel REIT’s gain from the divestment of its 92.8% stake in Prudential Tower was partly offset by a loss of $20.3 million arising from the dilution of interest in Keppel REIT and higher tax expense. Net profit would have been higher by 7% if not for a tax write-back of $30.7 million in the same period in 2013.

Triyards Financial Year ended 31 August 2014 Report Summary - October 2014



RESULT SUMMARY:

The company recorded US$27m net profit attributable to shareholders (drop 15% y/y) on the back of total revenue of US$269m (drop 2% y/y). This translated to net profit margin of about 9.9% (drop 1.5%).

FY2014 EPS was 9.04 US cents compared to 11.71 US cents for FY2013. NTA was 57.37 US cents for FY2014 compared to 49.90 US cents. ROE was around 17% which to me still not too bad, although the ROE was lesser when comparing to previous year.

Trailing PE of Triyard is now around S$0.675 / 9.04 US cents or about 6.0x. Trailing PB ratio is 0.94. The company proposed 1.0 SG cents final dividend, which translated to be around 1.5% final dividend yield.


REVIEW OF PERFORMANCE:

19 October 2014

Crude Oil rebound from Two Year Low - Oct 2014

This is just to record that crude oil rebounded from its two year low of USD80 to current USD82++. Frankly speaking, I do not really know the real reasons behind but the main idea was that the supply is more than demand currently. Few points here:
  • Shale oil from US hit record production thanks to the latest technology that can extract the oil out from rocks which could not be done previously.
  • Increase in USD helped lower down the crude oil price as it is normally negative correlated with USD movement.
  • Rumor saying that US was trying to revenge Russia

18 October 2014

Iskandar Malaysia Update - October 2014

My Notes

Iskandar Malaysia experienced a change of taste by investors as more investors targeting landed residential or industrial projects instead of those luxury high rise project near to Johor Bahru custom such as Danga Bay. I believe that some investors may worry about the rental market once all the projects completed by 2015 - 2017. 

The recent news on toll charge rise in between two countries may deter some residents who already bought the houses in Iskandar Malaysia to move back and stay here. The only catalyst that I could think of is that the RTS (Rapid Transit System) location at Bukit Chagar was confirmed by Malaysia government recently. It may still take some time for both governments to confirm the detailed plan such as whether it's built under the undersea tunnel or over a bridge and to start the bidding of the project soon. 

13 October 2014

Free Fall of Singapore Stock Market - October 2014

Starting from this month (October 2014), the investors have experienced the volatility in equity market. Some decided to leave the market as they do not dare to see the volatility, some prefer to short against the market as they followed the trend, some may just did nothing as long as the businesses were still running good in long run.

To me, I prefer a volatile market although it seems that there are more risks involved. The opportunities lies on the risks. For some investors, they may find more counters in their watchlist hit the targeted buy range. There are still some concerns to the investors, as they could not handle the paper losses or they just not too sure of handling it.
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