Hi-P

Looks like Hi-P price may edge higher with the good set of financial results from Apple.

It would be positive if price can move up to re-conquer $1.34 smoothly. Breaking out with ease + good volume that may propel to drive the price higher towards $1.43.

NAV of 68.4 cents.
EPS of 15 cents.
PE of less than 10.
Yield may be more than 7%.

Not a call to buy or sell/

Please do your own due diligence.


Forward-looking guidance: Apple guided toward fourth-quarter revenue between $60 billion and $62 billion, edging out Wall Street predictions of $59.47 billion, according to StreetAccount.

Apple reported strong results for the fiscal third quarter Tuesday, posting big beats on earnings per share and average iPhone selling price.

Here's how the company did compared with Wall Street projections:

• EPS: $2.34 vs. $2.18, according to Thomson Reuters consensus estimates
• Revenue: $53.3 billion vs. $52.34 billion, according to Thomson Reuters consensus estimates
• iPhone sales: 41.3 million vs. 41.79 million, according to StreetAccount

The quarterly report comes after a market rout for major tech stocks. Silicon Valley giants Facebook and Twitter each shed 20 percent after disappointing reports last week.

Shares of Apple rose 3 percent in extended trading, after the company fell right in line with analyst projections of strong upsides for the quarter that ended June 30. EPS grew by 40 percent year over year, and revenue grew by 17 percent year over year.

Many were hanging high hopes on Apple's flagship handset and its climbing average selling price (ASP). The 41.3 million iPhones shipped during the third quarter is basically flat from the year-ago period, but the ASP of $724 is a notable jump from the year-ago period. That ASP bump is likely be because of the pricey iPhone X, which starts at $999.(www.cnbc.com)

Hi-P International Limited operates as an integrated contract manufacturer serving the telecommunications, consumer electronics, computing and peripherals, lifestyle, and medical and industrial devices industries. The company operates through three segments: Precision Plastic Injection Molding; Mold Design and Fabrication; and Provision of Sub-Product Assembly and Full-Product Assembly Services. It manufactures and sells molds and special tools, related housing appliance plastic components and equipment, and water treatment equipment; plastic components and plastic product modules; mold base and components; electric components and electronic communication equipment; in-mold decoration lenses; precision stamped metal components and precision tools; and metal and non-metal stampings, as well as provides spray painting, engineering support, maintenance, and technology consultation services. In addition, the company engages in the manufacture, wholesale, import and export, and sale of electronic telecommunication devices, housing appliances, automated equipment, and related components. Further, it manufactures and sells trays, mobile phones, telecommunication products, digital cameras and related electronic products, and electric toothbrushes; assembles coffee machines and parts, as well as provides related maintenance and after-sales services; and offers investment and management consulting services. Additionally, the company engages in the assembly and provision of ancillary value-added services, primarily surface finishing services. It has operations primarily in the People's Republic of China, Singapore, Malaysia, Thailand, Europe, the United States, the rest of Americas, and internationally. The company was founded in 1980 and is headquartered in Singapore.

SGX

Dividend power! Dividend of 15 cents, ex-dividend on 26th Sept 2018. Looking good to ramp up further towards 7.60 !

SGX declared Final dividend of 15 cents ,increased by 2 cents from 13 cents . I think shareholders would be happy to boost their dividend income.

Likely to continue to head higher!


21st July 2018:
TA wise, looks bullish!
I think likely to see it re-captured $7.52 and continue to trend higher towards $7.60 then $7.70 with extension to $7.75.

Full year financial result for 2018 would be out on 27th July 2018 after trading hours.
Dividend of 13 cents may likely declare for the final dividend.


http://infopub.sgx.com/Apps?A=COW_CorpAnnouncement_Content&B=AnnouncementLast12MonthsSecurity&F=CDEZFN5SILEP94VP&H=587b7d5900d1d0c3a63baa28eb4863009f9131120f3e69ef2d7af6684f667ea9

EPS is about 34 cents, PE is about 22x seems floating at a reasonable trading level. If market is bullish than we may likely see it rises towards PE25-28x.

Not a call to buy or sell.

Please do your own due diligence.

Looking through their financial numbers for past 5 yeas, Total revenue has been rising from $686m in 2014 to $839m in 2018. This is rather impressive. Similarly, diluted EPS has also been rising from 22 cents in 2014 to 25.5 cents in 2018. A nice and consistence increasing of total revenue cum rising in diluted EPS. Looks positive.

Dividend of 28 cents has been declared for past 5 years from 2014 to 2018. The current price of $7.49 is giving a yield of 3.7% which is pretty attractive.

Net Income has also been generally rising from $320m in 2014 to $364m in 2018. What a great achievement for this Singapore Exchange authority.

I would monitor this counter and consider when the trading opportunity surfaced/triggered.

Trade/invest base on your own decision.

Singapore Exchange Limited, together with its subsidiaries, operates an integrated securities exchange and derivatives exchange in Singapore and related clearing houses. It operates through Equities and Fixed Income; Derivatives; and Market Data and Connectivity segments. The company provides issuer, securities trading and clearing, post trade, membership and collateral management, derivatives trading and clearing, and market data and connectivity services. It also offers counterparty guarantee, and depository and related services for securities transactions; bond trading services; front-line regulatory functions; and computer services and software maintenance services, as well as consultancy services. In addition, the company provides and distributes bulk freight market indices and information; and operates regulated freight derivatives trading facility and electricity market. Singapore Exchange Limited was incorporated in 1999 and is headquartered in Singapore.

M1

I think result has shown some improvement and overall Net profit has risen 1.5% to $36.2m.

Come Monday would have to see if Mr.Market is in favor of this set of financial results!

TA wise, it is on a consolidation mode. A breaking out if $1.65 would be positive to take it higher towards $1.70 then $1.76 level.

Not a call to buy or sell.

Please do your own due diligence.


Results for half year ended 30 June 2018

 Service revenue for second quarter grew 5.2% year to S$193.0 million

 Fixed services revenue for second quarter grew 27.4% year on year to S$36.7 million

 Interim dividend of 5.2 cents per share.

SINGAPORE,  27  July  2018  -  M1  Limited  (M1)  today  announced  the  unaudited  group  financial  results for  the  six months  ended 30  June  2018. 

 For  the  second  quarter  of  2018,  service  revenue  grew  5.2%  year-on-year  to  S$193.0  million.  This  was mainly  driven  by  higher  postpaid  and  fixed  services  revenues,  which  grew  5.7%  and  27.4%  year-on-year to  S$132.6  million  and  S$36.7  million  respectively.

 EBITDA  increased  1.4%  year-on-year  to  S$78.4 million and net  profit  after  tax increased  1.5%  year-on-year  to S$36.2 million. 

 Fixed  services  continued  to  post  strong  growth  across  both  corporate  and  residential  segments.  Fibre customer  base  grew  6,000  quarter-on-quarter  to  200,000  and  fixed  revenue  accounted  for  19.0%  of second  quarter  service  revenue, compared  to  15.7%  a  year  ago. During  the  quarter,  M1  added  34,000  postpaid  customers,  to  bring  the  postpaid  customer  base  to  1.34 million  as  at  30  June  2018.

 Monthly  postpaid  churn  remained  stable  year-on-year  at  1.0%.  Contribution from  mobile  data  increased  to  64.4%  of  service  revenue,  up  from  55.3%  a  year  ago.  Average  postpaid smartphone  data  usage  grew  to  5.2GB  per  month  in  the  second  quarter  of  2018,  from  3.9GB  per  month  a year  ago.

  “M1  is  committed  to  stay  at  the  forefront  of  technology  advancements  and  has  embarked  on  early  multivendor  5G  trials,  including  Singapore’s  first  end-to-end  5G  live  trial  in  June  2018.  This  could  provide insightful  learning  crucial  to  the  successful  development  of  relevant  5G  services.  With  our  foundation  of dense  cell  grid  and  advanced  narrowband  Internet-of-Things  network,  we  are  well  positioned  to  harness exciting  new  capabilities  and  support  highly  reliable  and  responsive  applications  on  our  network,”  said Ms Karen  Kooi, Chief  Executive Officer,  M1. 

 “The  Smart  Nation  initiatives  will  accelerate  the  digitalisation  and  transformation  of  businesses.  By leveraging  on  our  scaled  up  ICT  and  digital  capabilities,  we  will  be  able  to  capture  new  opportunities from  Smart  Nation  initiatives  and  support  businesses  to leverage digital  technologies,” Ms  Kooi  added. 

 M1’s  Board  of  Directors has declared an interim  dividend of  5.2 cents per  share.

 More  details  are  available at  the following  links: M1 direct  weblink:   https://www.m1.com.sg/aboutm1/investors/financialandoperatingresults SGX direct 

Facebook

The recent quarter financial results is below market expectation that sent it's share price tumbling down to close at $174.89 yesterday .

 52 weeks price range is hovering between $147.80 to $ $203.55.

With this Gapped down situation, looks like price may continue to go lower . The critical level to take nite is $17.30 . Breaking down may see further selling down pressure. Likely to slide down to $167.35 then $160 with extension to $151 level .

 Not a call to buy or sell.

 Please do your own due diligence.

 Facebook, Inc. provides various products to connect and share through mobile devices, personal computers, and other surfaces worldwide. Its products include Facebook Website and mobile application that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing visual stories through photos, videos, and direct messages; Messenger, a messaging application to communicate with other people, groups, and businesses across various platforms and devices; and WhatsApp, a mobile messaging application. The company also offers Oculus virtual reality technology and content platform, which allows people to enter an immersive and an interactive environment to train, learn, play games, consume content, and connect with others. As of December 31, 2017, it had approximately 1.40 billion daily active users. Facebook, Inc. was founded in 2004 and is headquartered in Menlo Park, California.

Cosco Shpg

Chart wise, looking good to continue to move up to re-attempt the recent high of 41 cents.

Breaking out with ease + high volume, that may propel to drive the price higher towards 45.5 cents with extension to 48 cents.

We would like to ride on the bullish white soldier thrust bar appeared on 24th July 2018 and take it higher towards 45.5 cents.

The company with the recent acquisition of Cogent Logistics + restructuring of the Yard business, it is slowly gaining back into profitable situation.

The coming quarter financial results reporting would be interesting to see how it fares and may provide further insights for it's futures business revenue/net profit direction.

Let say the EPS is about 3 cents, The PE would be About 13.1x based on current price of $0.395.

Not a call to buy or sell.

Please do your own Due diligence.



COSCO SHIPPING International (Singapore) Co., Ltd., an investment holding company, provides integrated logistics management services in South and Southeast Asia. Its logistics services include transportation management, container depot management, automotive logistics management, warehousing, and property management services. The company also offers ship repair and marine engineering services. In addition, it transports dry bulk cargos comprising grains, iron ore, coal, steel, cement, and fertilizers through operating three bulk carriers. Further, the company engages in the property rental activities. The company was formerly known as COSCO Corporation (Singapore) Limited and changed its name to COSCO SHIPPING International (Singapore) Co., Ltd. in April 2017. COSCO SHIPPING International (Singapore) Co., Ltd. was incorporated in 1961 and is based in Singapore. COSCO SHIPPING International (Singapore) Co., Ltd. is a subsidiary of China Ocean Shipping (Group) Company.

Hi-P & AEM

From TA point of view, it is looking rather bullish as it has managed to bounce-off from the low of $1.13 and stage a strong recovery to close at $1.39 today .

The current price is staying above it's 20 & 50 days moving average.looks rather positive and may likely continue to head higher.

Breaking out of $1.43 level with good volume that may propel to drive the price higher towards $1.50 then $1.57/$1.60 level.


NAV of 65.4 cents.
Rolling EPS of 15 cents.
PE of less than 10X
Dividend of about 10 cents.
Yield is 7% which is rather impressive.

Not a call to buy or sell.

Please do your own due diligence.

Latest 1Q result for your reference. Gross Profit increased 13% to reach 37.8m. 
Net Profit increase marginally of 1.3% to 12.1m after factoring the foreign exchange loss of 13m..

Hi-P International Limited operates as an integrated contract manufacturer serving the telecommunications, consumer electronics, computing and peripherals, lifestyle, and medical and industrial devices industries. The company operates through three segments: Precision Plastic Injection Molding; Mold Design and Fabrication; and Provision of Sub-Product Assembly and Full-Product Assembly Services. It manufactures and sells molds and special tools, related housing appliance plastic components and equipment, and water treatment equipment; plastic components and plastic product modules; mold base and components; electric components and electronic communication equipment; in-mold decoration lenses; precision stamped metal components and precision tools; and metal and non-metal stampings, as well as provides spray painting, engineering support, maintenance, and technology consultation services. In addition, the company engages in the manufacture, wholesale, import and export, and sale of electronic telecommunication devices, housing appliances, automated equipment, and related components. Further, it manufactures and sells trays, mobile phones, telecommunication products, digital cameras and related electronic products, and electric toothbrushes; assembles coffee machines and parts, as well as provides related maintenance and after-sales services; and offers investment and management consulting services. Additionally, the company engages in the assembly and provision of ancillary value-added services, primarily surface finishing services. It has operations primarily in the People's Republic of China, Singapore, Malaysia, Thailand, Europe, the United States, the rest of Americas, and internationally. The company was founded in 1980 and is headquartered in Singapore.

Similarly for AEM, it is on a nice Reversal chart patterns and may likely continue to move up to re-captured the recent high of $1.24. 

Crossing over with ease + high volume that may propel to drive the price higher towards $1.30 then $1.40 with extension to $1.49.

Trade / invest base on your own decision.

OCBC Bank

TA wise, it is looking rather bullish especially with the Gapped up being happening on 25th July 2018 and closed well at $11.66 price level. The next day it has follow-through but wasn't able to close well.

This Bullish candlestick bar is providing us the driving force/momentum to take advantage of the current situation.

Likely to see price heading higher to retest $12.00 then $12.50 with extension to $13.00.


NAV of $9.205.
P/B 1.22x
EPS of $1.01.
PE of 11.5x

Dividend of $0.37.
Yield of 3.27%.

Looking through their financial numbers for the past 5 years , Total revenue has risen from $7.83b in 2014 to $9.33b in 2018. This is quite positive.

Total Net Income has also risen from $3.84m in 2014 to $4.4b in 2018. This is pretty impressive.

Not a call to buy or sell.

Please do your own due diligence.


Oversea-Chinese Banking Corporation Limited provides financial services in Singapore, Malaysia, Indonesia, Greater China, other parts of the Asia Pacific, and internationally. The company's Global Consumer/Private Banking segment provides a range of products and services to individuals, including checking accounts, and savings and fixed deposits; housing and other personal loans; credit cards; wealth management products consisting of unit trusts, bancassurance products, and structured deposits; and brokerage services. This segment also offers investment advice and portfolio management, estate and trust planning, and wealth structuring services for high net worth individuals. Its Global Corporate/Investment Banking segment provides project financing, overdrafts, trade financing, and deposit accounts; fee-based services, such as cash management and custodian services; and investment banking services, including financing solutions, syndicated loans and advisory services, corporate finance services for initial public offerings, secondary fund-raising, and takeovers and mergers, as well as customized and structured equity-linked financing services. It serves corporates, public sector, and small and medium enterprises. The company's Global Treasury and Markets segment is involved in the foreign exchange activities, money market operations, and fixed income and derivatives trading, as well as provision of structured treasury products and financial solutions. Its OCBC Wing Hang segment offers commercial banking, consumer financing, share brokerage, and insurance services. The company’s Insurance segment provides fund management services, and life and general insurance products. Its Others segment is involved in property and investment holding activities. As of May 7, 2018, the company operated a network of 590 branches and representative offices in 18 countries and regions. Oversea-Chinese Banking Corporation Limited was founded in 1912 and is headquartered in Singapore.

SingTel

I think price may move up to cover the Gap.

The company will be releasing its 1Q2018 result on 8th Aug before trading commence.

http://infopub.sgx.com/Apps?A=COW_CorpAnnouncement_Content&B=AnnouncementLast12Months&F=RJ4CD5XI53N69BAA&H=f096a394aea8b3481769586ddddf6c6aed4bcd67410cac19bb4bdb8b24a8e9a3

The price just went ex.dividend yesterday as we can witnessed the Gap down of the candlestick bar being appeared on the chart.
Yesterday closing price of $3.19 is giving a yearly yield of 5.485% which is rather attractive.

I think any further weakness in price, it will present a golden opportunity for me to accumulate at a much cheaper price + higher dividend yield. Long term wise, price may fluctuate up and down, but the current market depressing price is providing a good MOS for a medium to long term investment opportunity.

I did not sell off the share but hold on to it to collect dividend + waiting for a better price to rise back to have the possibility of making some capital gains.

Plus point:

I think SingTel has a stronger balance sheet, stronger free cash flow and it pays out a fraction of its earnings as dividends to shareholders.

If the price on a good investment goes lower, I think it is presenting a good value .

18 May 2018 - long time didn't see company buying back share ! Looks positive!

Today saw the company bought back 294000+ share between $3.42 to $3.43.


http://infopub.sgx.com/Apps?A=COW_CorpAnnouncement_Content&B=AnnouncementToday&F=H1UR0B3BPABL4KB0&H=b2e5d5b80b08f4cc5d2922ce03a9263e1a932c75229c687d33fd403eb23c2132

Not a call to buy or sell.

Please do your own due diligence.


Singtel posts record full-year earnings on NetLink Trust divestment and strong core business 

Financial year ended 31 March 2018









 Record net profit of S$5.45 billion, including divestment gains from NetLink Trust  Operating revenue up 5% to S$17.53 billion

 Strong core and digital businesses drive growth









 Free cash flow up 18% to S$3.61 billion on strong operating cash flow

 Q4 revenue stable and net profit down 19% on weaker associates’ earnings

 Proposed final dividend per share of 10.7 cents; total dividend per share of 17.5 cents

DIVIDENDS

The Board is recommending a final ordinary dividend per share of 10.7 cents, bringing the total ordinary dividend per share for the year to 17.5 cents, representing a payout of approximately S$2.86 billion.

Barring unforeseen circumstances, the Group expects to maintain its ordinary dividends of 17.5 cents per share for the next two financial years and thereafter, will revert to the payout of between 60% and 75% of underlying net profit.

Fraser HTrust

DPU is decreasing 9.3% to 1.12 cents for 3rd quarter 2018 financial result .

9M DPU is down 5.9% to 3.54 cents. Looks like the current price of 70.5 cents may go lower due to DPU weaken .

 Looks like price may slide down towards 68 cents and below .

 Not a call to buy or sell.

 Please do your own due diligence.

 SINGAPORE, 26 JULY 2018 Frasers Hospitality Trust (“FHT”), a stapled group comprising Frasers Hospitality Real Estate Investment Trust (“FH-REIT”) and Frasers Hospitality Business Trust (“FH-BT”), today announced that for the third quarter ended 30 June 2018 (“3Q FY2018”), its GR and NPI were S$38.2 million and S$28.5 million respectively, down 1.8% and 2.8% year-on-year (“yoy”).

 The declines were mainly due to weaker performance from its Australia and Malaysia properties. The soft performance of the Australia portfolio was attributed to the more competitive trading environment in Sydney.

However, Novotel Sydney Darling Square performed better yoy with the return of its full room inventory compared to last year when the number of available rooms was affected by renovation.

The Westin Kuala Lumpur reported lower room and food and beverage revenue due to significant reduction in business and government activities leading up to and after the general election in Malaysia. Softer demand from the Middle East also contributed to the hotel’s lower revenue.

 In contrast, the Singapore portfolio recorded stable performance on the back of increased operating efficiencies at both properties, and stronger food and beverage revenue at the InterContinental Singapore.

The UK properties performed better yoy due to higher room rates and occupancies arising from increased leisure demand. DI decreased by 8.1% yoy to S$21.1 million on the back of lower NPI and higher finance costs. As a result, DPS was 1.1226 cents, 9.3% lower yoy.

Ms Eu Chin Fen, Chief Executive Officer of the Managers1 said, "We turned in weaker performance this quarter primarily due to the significant decline in revenue at The Westin Kuala Lumpur and a more competitive trading environment in Sydney. Our hotel in Kuala Lumpur was much affected by significant pullbacks in business and government spending prior to and after the Malaysia general election which saw the unexpected election results adding uncertainty to businesses and major project. Review of Portfolio’s Performance In 3Q FY2018, the Australia properties reported lower gross operating revenue (“GOR”) and gross operating profit (“GOP”) as the trading environment in Sydney has been more competitive due to softer corporate demand. However, Novotel Sydney Darling Square performed better yoy as it benefited from having its full room inventory compared to last year when there was renovation. Novotel Melbourne on Collins continued to perform well in this quarter, with strong revenue per available room (“RevPAR”) growth of 11.6% yoy. The portfolio RevPAR rose only by 2.0% yoy on the back of higher occupancy. The Singapore portfolio recorded stable performance, with GOP increasing 4.2% yoy despite a drop in GOR of 1.5%. The higher GOP was attributed to increased operating efficiencies at both properties and stronger food and beverage revenue at the InterContinental Singapore.

The portfolio RevPAR declined 3.8% yoy as Fraser Suites Singapore pursued a volume strategy by lowering its average daily rates (“ADR”). GOR and GOP of the UK portfolio grew yoy by 3.1% and 4.0% respectively due to ADR and occupancy gains arising from increased leisure demand. ANA Crowne Plaza Kobe’s GOR declined 4.9% yoy due to softer banquet performance. However, the decline in its GOP was lower at 3.2% due to productivity and efficiency gains achieved by its food and beverage division.

 The Westin Kuala Lumpur’s GOR and GOP declined yoy by 13.5% and 35.7% respectively as a result of consequential pullbacks in business and government spending leading up to and after the Malaysia general election which saw the unexpected election results.

While the hotel maintained its market share vis-à-vis its peers, its revenue was affected by weak market demand, with corporate and government spending stalled on the back of uncertainty surrounding businesses and projects. Demand from the Middle East has also weakened for the quarter.

 Market Outlook Tourism Australia reported a yoy increase in international arrivals of 6.1% for the first five months of 2018, with Chinese visitors growing by 10.5%. A relatively large number of new rooms is anticipated to enter the Sydney market over the next three years but continued strong demand is expected to offset the supply increase. Stable occupancy and anticipated increases in ADR are likely to continue to support RevPAR growth in the city 2.

 The Melbourne hotel market, on the other hand, is expected to stay muted. 3 growth has been hard to come by and with a glut of new supply in 2018 and 2019, this is anticipated to remain the case for some time3. Singapore Tourism Board (STB) reported a yoy growth of 6.9% in visitor arrivals for the first five months of 2018. China and Indonesia were the top source markets for tourism, accounting for 35.3% of total visitor arrivals. In the near term, hotel demand is expected to remain strong due to continued arrivals growth while limited hotel supply should reduce supply-side pressure.

 Hotel trading performance is anticipated to pick up in 2H2018. Increased marketing efforts by STB and the positive outlook in Asia-Pacific tourism should continue to drive visitor arrivals growth 4. In the UK, weaker economic growth is expected to persist in 2018 as considerable uncertainty still relates to Brexit. While stronger global growth could help cushion inbound business and leisure travel to the UK, the weaker economic growth of the country is likely to depress ADR growth. The weak British pound that has made the UK more affordable for inbound tourists may also ‘fizzle out’ 5. For January to June 2018, Japan National Tourism Organization recorded 15.6% growth in foreign visitors.

While growth of inbound tourism continues, high supply levels may concern hoteliers. But new regulations on minpaku (home-sharing type of accommodation) and strong demand fundamentals could mitigate the negative impact of heightened competition6.

Despite tourist arrivals declining 3.0% yoy to 25.9 million, tourist receipts still inched up 0.1% to RM82.2 billion last year. Tourism Malaysia targets to achieve 33.1 million tourist arrivals and RM134 billion in tourism receipts for 2018. It reported a yoy decline of 3.4% in tourist arrivals for January to April 2018. In Kuala Lumpur, hotel room rates are expected to remain stagnant in the near future, in view of the new room supply that has entered the market since last year.

 This would deter the existing hotels from raising their rates in order to stay competitive7. For January to May 2018, the Federal Statistical Office of Germany recorded a yoy increase of 5.0% in the number of domestic and foreign overnight stays8. In Dresden, the total number of domestic and foreign visitors rose 8.9% yoy for January to May 20189. Dresden, the capital city of the Free State of Saxony, continues to grow its pipeline of MICE events for 2018 and 2019 including Bauen Kaufen Wohnen, Florian, Borsentag Tag Dresden, HAUS, Sachsenback and Green and Sustainable Chemistry Conference.

QAF

Anyone care to share your opinion about Gardenia Breads ? Their famous product of manufacturing and selling Gardenia breads.

Primary product of selling Airport.

 After hitting the high of $1.575 in 2017, it had since retreated and continue to slide down towards 85.5 cents today , this is rather bearish.

 Super oversold and value is surfacing for this profitable company although the net profit has been declining from $45m in 2014 to $20m in 2018.

 Diluted EPS has been dropping from 7.3 cents to 3.2 cents in 2018. Dividend for the past 5 years has been maintaining at 5 cents per share. Yield is about 5.83% base on current price of 85.5 cents.

 NAV of 93.9 cents . P/B 0.91x. It is now hovering near 85 cents which was last seen in 2014.

 It seems that the same chart patterns may repeat itself.

 Not a call to buy or sell.

 Please do your own due diligence.

 QAF Limited, an investment holding company, engages in the manufacture and distribution of bread, bakery, and confectionery products in Australia, the Philippines, Singapore, Malaysia, and internationally. The company operates through four segments: Bakery, Primary Production, Trading and Logistics, and Investments and Others. It is also involved in the production, processing, and marketing of meat; and feedmilling and sale of feeds and related ingredients. In addition, the company trades in and distributes food and beverage products; and provides warehousing logistics services for food items. Further, it engages in the operation of supermarkets; leasing investment activities; and share trading and investment activities, as well as operates as a purchasing agent for bread, confectionery, and bakery products. The company was formerly known as Ben and Company Limited and changed its name to QAF Limited in 1984. QAF Limited was incorporated in 1958 and is based in Singapore.

Sunningdale Tech

TA wise , looks bullish as it has managed to cross over $1.42 with ease and closed well at $1.43.

The current price of 1.42 us staying above it's 20 & 50 days moving average, this I'd rather positive.

Short term wise, I think likely to continue to move up to retest $1.46 then $1.50 with extension to $1.61.

I think the company would be releasing it's half year result in Aug. Another 2.5 cents of dividend may be on the way.

Not a call to buy or sell.

Please  do your own due diligence.


Quote: Jeremyowtaip

I saw an article written by The Edge Singapore and also went through their 1Q financial results announcement.

From both the article by The Edge Singapore and also from Sunningdale's 1Q results, I noticed three things affecting Sunnningdale's 1Q 18 results y-o-y as compared to 1Q 17.

1. Adverse foreign exchange losses due to weakening of USD versus other currencies such as RMB, RM and SGD affecting both revenue and net profit. I noticed that the amount of forex losses registered can be quite substantial to cause a significant decrease in net profit.

2. Increase in competition and labour cost has caused a decrease in net profit y-o-y. I noticed their administrative expenses has increased y-o-y reflecting this increase in labour cost.

3. Advancing of orders for consumer/IT segment in 1Q17 and comparatively lesser work orders received and completed in 1Q 18. Thus, the revenue for consumer/IT segment has decreased y-o-y and dragged down overall revenue.

However, from their commentary on the outlook for the second half of the year, they are optimistic there will be a ramp up of orders for their newly built Penang manufacturing plant which has started some pilot runs for mass production for consumer/IT segment. Despite this, the company expects their performance for the rest of the year to be affected by volatile forex movements, keen competition and increase in labour cost. The company is still overall optimistic that their business model is resilient and sustainable and should be able to weather this current challenging operating environment.

My take is to continue to monitor their progress for the rest of the year which hopefully as what the management has mentioned, second half of the year should be better. However, if one notice that there are any significant deterioration in it's businesses such as winning even lesser orders going forward from new and existing customers, then one has to investigate whether the company is starting to lose it's competitive edge versus it's competition especially in the consumer/IT segment which is the one which is currently impacted. For now, just monitor their progress going forward.

Raffles Med

Market seems to be in favour of this new development.
Today we have witnessed bthe share price surge 4 cents higher and closed well at $1.14. Looks rather bullish!

Chart wise, looks like it may likely continue to live up to retest $1.18/$1.20 level !

Breaking out of $1.20 level with high volume that may propel to drive the price higher towards $1.30 level.

The company will be releasing it's coming quarter result on 6 Aug before Trading commence.

http://infopub.sgx.com/Apps?A=COW_CorpAnnouncement_Content&B=AnnouncementLast12MonthsSecurity&F=J066EFFM9XA7NH6V&H=330193b735c232a3d913255c4414bc40f292df98b750236e23a57992ae531db8

Not a call to buy or sell.

Please do your due diligence.

 NTUC Income  Partners  RafflesHealthinsurance   to Launch the  IncomeShield  Private  Specialist  Panel   Singapore,  24  July  2018  –  NTUC  Income  (Income)  and  RafflesHealthinsurance  (RHI),  a wholly-owned subsidiary  of  RafflesMedicalGroup  (the  Group),  announced today  a  strategic partnership to  introduce  the IncomeShield Private  Specialist  Panel  (the  Panel).   In addition  to offering  IncomeShield  policyholders  access  to  over  200  medical  specialists  in private practice  spanning across  different  specialty  areas  via the  Panel,  RHI  will also  extend clinical  indicator  assessment  to  Income  as  part  of  the  partnership.  The  assessment  ensures that  the  Panel  delivers  appropriate and  high  quality  healthcare to  IncomeShield  policyholders sustainably.   Additionally,  RHI  will  also ensure that  the Panel  offers  equitable representation of  medical specialists from  within and outside  the  Group,  whom  are of  good reputation  and experience in the industry,  to  meet  diverse healthcare and  medical  needs.  More significantly,  through the  combined  scale  of  Income  and  RHI,  the  strategic  partnership  aims  to  lend  strength  to  the curation of  quality  medical  specialists  in private practice  for  the Panel.   The  introduction  of  the  Panel  demonstrates  Income’s  commitment  to  ensure  that  its  health insurance remains  accessible,  affordable and sustainable  for  everyone  in Singapore.  It  is also aligned  to  the  Health  Insurance  Task  Force’s  (HITF)  recommendation  for  all stakeholders  in  the  healthcare  ecosystem  to  collectively  play  an  active  and  collaborative  role in managing  medical  care  and health insurance  costs  in Singapore.  This  is  particularly important  in  view  of  Singapore’s  ageing  population and  rising healthcare  costs. Commenting on  the  strategic  partnership with RHI,  Mr  Andrew  Yeo,  Income’s  General Manager  for  Life  and  Health  Insurance,  said:  “RHI  stands  out  as  a  strategic  partner  for  us  as it  allows  Income  to  tap  its  in-house  medical  expertise  and  ready  network  of  practitioners  in and  beyond  the  RafflesMedicalGroup.  The  latter  is  the  only  healthcare  institution  in Singapore  that  subscribes  to  the  Institutional  Group Practice  Model.  It  advocates  physicians to render  patients  quality-assured  medical  services  that  are  peer  reviewed  and  medically audited.” 

SembCorp Marine

From TA point of view, we had witnessed a Gapped down yesterday + high volume and closed lowered at $1.83, this is rather negative.

The current pric of $1.83 is hovering near the major support at $1.80/$1.81.
If this level is broken down, then it would be super bearish and may continue to slide down further towards $1.75 then $1.70 with extension to 1.60 level.

The company has started buying back share yesterday. 300,000 share bought back at an average price of $1.845.

http://infopub.sgx.com/Apps?A=COW_CorpAnnouncement_Content&B=AnnouncementLast12Months&F=VB64DDHNBB2R9SDW&H=449a854ad4e71919b41a0fed34f32334f01d3989639662211572fe679024f6d1

quote from DBS : Earnings revisions. Headline losses amounted to S$50m in 1H18. We had expected SMM to be in the red for 1H18 but it seems like revenue and margin recovery will take longer than expected. There is also a lack of visibility for the write-back of cost overruns for disputed variation orders in 2017 (which we estimated to be around S$100m) as negotiations with customers continue. As such, we have lowered our EBIT margin by 1.4ppt in FY18 and pushed back revenue recognition in FY19 given the slow contract wins in 1H18. Our net profit forecast for FY18-19 is reduced from S$54-126m to S$16-64m.

 SMM secured S$730m new orders in 1H18. The contract value for Shell Vito’s Floating Production unit clinched in May2018 was lower than expected at c.S$250m (vs our estimate of S$400m) as customer decided to procure some of the equipment themselves

 1) Potential first customer for SMM’s Gravifloat LNG exporting Terminal - Poly-GCL has reached an agreement with Djibouti on plans for a cross-country pipeline in May. This indicates positive progress of the gas development project and a step closer to finalisation of the Gravifloat contract that is expected to worth c.S$1bn;

2 Seaone’s preliminary study for compressed gas liquid carrier is near completion. Once customer decides to proceed with FID, SMM could secure contract for two such carriers worth a total of S$800m;

 3) Chevron is expected to award the contract for newbuild FPSO that could worth up to US$2bn for its Rosebank project off UK by 3Q18. SMM is competing against the other three Korean peers for the job.

 https://www1.dbsvonline.com/DBSVReport/2018/07/20180723134817_SMM%20-%201H18.pdf

Valuation: Our target price of S$2.50 is based on 2.1x FY18 P/BV, pegged to 0.75SD below its mean valuation since 2004. SMM’s book value has already been written down after the massive S$609m provisions taken in FY15.

 Key Risks to Our View: Key downside risks are sustained low oil prices which would affect rig count and newbuilding activities, execution risks in new product types, and corruption allegations in Brazil that, if found guilty, could lead to financial and reputational loss. Upside risk could come from privatisation or M&A activities, as well as the write-back of provisions from successful deliveries or vessel sales

Looking through their financial numbers for the past five years, Net Income has been declining substantially from $560m in 2014 to a LOss of (78m).

Diluted EPS has been dropping from 19.2 cents to a negative 3.6 cents. This is rather bearish.

Short term wise, would not likely to see any much improvement in terms of their FY2018 result unless they are able to secure huge order to boost their revenue and net income level.

Not a call to buy or sell.

Please do your own due diligence.

 Sembcorp Marine Ltd, an investment holding company, provides offshore and marine engineering solutions worldwide. The company engages in the turnkey design, engineering, procurement, construction, and commissioning of offshore newbuilding and conversions, FSOs, FPSOs, FDPSOs, FPUs, MOPUs, gas terminals, FLNGs, FSRUs, jack-ups, semi-submersibles, drill ships, SSP solutions, TLPs, and SPARs. It also engages in the repair, refurbishment, retrofitting, life-extension, upgrading, and conversion of vessels, marine and offshore structures, LNG and LPG gas carriers, cruise ships, ferries, mega-yachts, floating production vessels, MODUs, tankers, containers, and cargo ships, as well as offers jumboization and dejumboization solutions. In addition, the company offers afloat and emergency repair, underwater cleaning and repair, main engine maintenance and repair, steel and pipe work, electrical and instrumentation repair, mechanical and motor rewind repair, tank cleaning, sludge and oily waste disposal, staging work, hydro jetting and hydro/vacuum blasting, riding crew and voyage repair, specialized workshop repair and reconditioning, vessel towage and port clearance arrangement, specialists service and navigation, automation, safety, and fire protection services. Further, it offers offshore platform solutions, such as integrated process; production, riser, and drilling; wellhead, power generation, manifold, and accommodation platforms; and wind-farm substations, as well as topside modules fabrication, installation, and integration. Additionally, it designs and builds sophisticated, specialized, gas value chain, ferry, RoPax, cruise, renewable energy and offshore support, naval support and security, and research and scientific survey vessels. The company was formerly known as Jurong Shipyard Ltd and changed its name to Sembcorp Marine Ltd in 2000. The company was founded in 1963 and is headquartered in Singapore. Sembcorp Marine Ltd. is a subsidiary of Sembcorp Industries Ltd.

SGX

TA wise, looks bullish!
I think likely to see it re-captured $7.52 and continue to trend higher towards $7.60 then $7.70 with extension to $7.75.

Full year financial result for 2018 would be out on 27th July 2018 after trading hours.
Dividend of 13 cents may likely declare for the final dividend.

http://infopub.sgx.com/Apps?A=COW_CorpAnnouncement_Content&B=AnnouncementLast12MonthsSecurity&F=CDEZFN5SILEP94VP&H=587b7d5900d1d0c3a63baa28eb4863009f9131120f3e69ef2d7af6684f667ea9

EPS is about 34 cents, PE is about 22x seems floating at a reasonable trading level. If market is bullish than we may likely see it rises towards PE25-28x.

Not a call to buy or sell.

Please do your own due diligence.

Looking through their financial numbers for past 5 yeas, Total revenue has been rising from $686m in 2014 to $839m in 2018. This is rather impressive. Similarly, diluted EPS has also been rising from 22 cents in 2014 to 25.5 cents in 2018. A nice and consistence increasing of total revenue cum rising in diluted EPS. Looks positive.

Dividend of 28 cents has been declared for past 5 years from 2014 to 2018. The current price of $7.49 is giving a yield of 3.7% which is pretty attractive.

Net Income has also been generally rising from $320m in 2014 to $364m in 2018. What a great achievement for this Singapore Exchange authority.

I would monitor this counter and consider when the trading opportunity surfaced/triggered.

Trade/invest base on your own decision.

Singapore Exchange Limited, together with its subsidiaries, operates an integrated securities exchange and derivatives exchange in Singapore and related clearing houses. It operates through Equities and Fixed Income; Derivatives; and Market Data and Connectivity segments. The company provides issuer, securities trading and clearing, post trade, membership and collateral management, derivatives trading and clearing, and market data and connectivity services. It also offers counterparty guarantee, and depository and related services for securities transactions; bond trading services; front-line regulatory functions; and computer services and software maintenance services, as well as consultancy services. In addition, the company provides and distributes bulk freight market indices and information; and operates regulated freight derivatives trading facility and electricity market. Singapore Exchange Limited was incorporated in 1999 and is headquartered in Singapore.

SembCorp Marine

Sembcorp Marine results for second quarter and half year 2018

Key highlights:

For the six months to June 30, 2018

 Group revenue of $2.81 billion, including sale completion of West Rigel rig for US$500 million

 Net loss of $50 million, including $27 million loss recognised from sale of West Rigel

 $730 million in new contracts secured in 1H 2018

 Net orderbook of $7.27 billion as at 1H 2018

Interim Dividend 

After due deliberation, the Board has adopted a prudent approach to conserving cash in light of the challenging business environment. As such, no interim dividend has been declared for 1H 2018. For 1H 2017, a 1.0 cent dividend per share had been declared.

TA wise, it is looking rather bearish!
The price is staying below its 20,50,100 & 200 moving average.

I think short term wise, the recent low of $1.91 would be likely breaking down and continue to slide down further towards 1.81 with extension to $1.71 level.

On a segmental basis: 

 Turnover for Rigs & Floaters was $2.41 billion in 1H 2018, compared with $643 million in 1H 2017. The higher revenue was related to recognition of the Borr Drilling and BOTL jack-up deliveries, sale of West Rigel, as well as higher floaters revenue on percentage recognition of the ongoing Johan Castberg FPSO and Shell Vito FPU projects, and ongoing recognition of revenue from the Transocean drillships.

Offshore Platforms revenue was $147 million in 1H 2018, lower than the $473 million in 1H 2017 due to fewer contracts on hand. During the second quarter, revenue from the remaining work for the three topside modules for the Culzean platform topsides was booked and delivered on schedule in June 2018.

 Revenue from Repairs & Upgrades totalled $205 million in 1H 2018 compared with $232 million in 1H 2017 on fewer ships repaired. A total of 158 ships and other vessels were repaired or upgraded in the first half compared with 239 units in 1H 2017. Average revenue per vessel was higher on improved vessel mix of relatively higher-value works.

The Group posted 1H 2018 operating loss of $33 million and a net loss of $50 million. This compares with a net profit of $42 million in 1H 2017, which was mainly due to a gain of $47 million from the sale of Cosco Shipyard Group. 1H 2018 loss was due to (i) lower overall business activities with key orders secured in 2015 substantially completed while new orders secured since end 2017 are at early execution stage; and (ii) sale of West Rigel, which was completed and recognised in 2Q 2018 at a loss of $27 million.

Balance Sheet and Cash Flow 

Net debt remained relatively stable at $2.99 billion, with net debt to equity at 1.26 times as at 30 June 2018 compared with 1.13 times as at end FY2017. Operating cash flow generated before working capital changes was $66 million in 1H 2018. Cash used in operations in 1H 2018 was $38 million, mainly due to working capital for ongoing projects, offset by receipts from ongoing and completed projects.

Outlook CAPEX spend on global exploration and production (E&P) continues to improve with firmer oil prices in the first half of 2018. However, offshore rig order recovery will take some time as the market remains oversupplied, particularly for jack-up rigs. There are some pockets of initial demand for mid and deep water rigs. The majority of new orders have been for offshore production projects. This trend is expected to continue and Sembcorp Marine is responding to an encouraging pipeline of enquiries and tenders for innovative engineering solutions. Competition in the repairs and upgrades segment remains intense. The segment will be underpinned by regulations that require ballast water treatment systems and gas scrubbers to be installed over the next two to five years.

The overall industry outlook remains challenging. While improvement in E&P CAPEX spending is projected to continue, it will take some time before we see a sustained recovery in new orders. The Group’s transformation efforts to move up the value chain have resulted in new business opportunities but they require significant time and effort in project co-development with potential customers before orders are secured. Such new-build engineering, procurement and construction (EPC) projects have detailed engineering and construction planning phase, which may take as long as six to twelve months before main construction activities and corresponding revenue recognition can take place. Margins remain compressed with intense competition. Overall business volume and activity for the Group is expected to remain low for the immediate quarters. The trend of negative operating profit will continue in the near term. Our cash resources remain sufficient and we will prudently manage our costs and cash flows to align them with business volume and potential opportunities. We will actively pursue the conversion of as many enquiries into new orders, execute existing orders efficiently and position the Group well for the industry recovery.