CapitaR CT versus Starhill Reit

CapitaLand Retail China Trust (CRCT) is focused in rental retail mall properties in China while Starhill Global REIT (SGR) is diversified across different countries such as Singapore, Malaysia, Australia, China and Japan and into not just retail but also office rental properties. 

It depends on what an investor wants. If an investor prefers a more focused China retail mall play, then CRCT is suitable. 

However, if an investor prefers a more diversified approach into both retail and office property play from different geographical regions, then the investment mandate of SGR will be suitable. 

Both CRCT and SGR have strong sponsors and are prudent in their gearing so far.

I compare here the CAGRs of the standard metrics I have been using before in my earlier sharings for these two REIT/Trust over a period of 10 years from 2007 to 2017. 

Please take this comparison only as a reference for your information and not as an absolute conclusion of their individual investment worthiness. 

There are certainly more things that can be looked into for each of them to form a stronger opinion on their individual investment worthiness. Nevertheless, this comparison is a good starting point.

CAGRs (10 years period)
Gross revenue = SGR (8.13) CRCT (12.29)
Net property income = SGR (8.52) CRCT (12.36)
Distributable income = SGR (6.82) CRCT (11.03)
Value of investment properties = SGR (3.76) CRCT (12.94)

From the comparison above, we can see that CRCT has been growing the key metrics at a higher double digit CAGR than SGR which is a lower single digit CAGR. I checked on the unit price performance of SGR versus CRCT over the past 10 years period and found out that the latter also performed significantly better than the former.

It seems that CapitaLand Retail China Trust is a better investment candidate than Starhill Global Reit. However, we certainly can continue to investigate more to form an even better informed comparison between the two. 

CRCT -. NAV $1.57, DPU of 10.1 cents. Yield is 7%.$1.44

Starhill - NAV 91 cents , DPU 4.38 cents, yield is 6.44% , 68 cents.

Genting Sp

Bounce off from$1.00 and is now gently rising up to hit $1.07, looks rather positive!

Short term wise, it may likely rises to test $1.11 then $1.18 level.

Pls dyodd.


Super oversold ! This could be the next AEM moving up soon! Price has dropped an attractive level . Not a call to buy or sell. Please dyodd.

2Q2018 financial result is showing a great improvement of Net Profit growth of 38% for Half year ended on 30th June 2018. The total comprehensive income for first half year is $394.6m.
EPS for 2Q2018 leaped 24% to 1.47 cents.

Dividend of 1.5 cents is being declared. Payment will be made on 20th Sept 2018.

Looks like they are able contain costs well and heighten their total comprehensive income.

A yearly dividend of 3.5 cents that translate to a yield of 2.84% of which I think is quite decent.

The anticipating of the bidding and winning of the Japan casino license would likely provide the next income driver and catalyst to boost the share price higher.

Not a call to buy or sell.

Please do your own due diligence.

For the second quarter of 2018, the Group reported revenue of $560.3 million and adjusted earnings before interest, tax, depreciation and amortisation (“Adjusted EBITDA”) of $265.9 million. Resorts World Sentosa (“RWS”) continues to be at the forefront of Singapore’s leisure and entertainment industry, attracting visitors from all around the world. Our signature attractions performed well during the second quarter of 2018 with average visitation exceeding 18,000 daily. Hotels continued to outperform industry with average occupancy of over 91% for the quarter. In the gaming segment, our VIP rolling volume showed encouraging year-on-year growth but luck factor was not in our favour. On a hold-normalised basis, RWS would have generated an Adjusted EBITDA of approximately $293 million.

For the half year ended 30 June 2018, our Group delivered a steady performance with growth in both the gaming and non-gaming businesses. The Group recorded revenue of $1,235.4 million and Adjusted EBITDA of $624.8 million, growing 4% and 8% respectively, as compared to the previous year. We achieved significant net profit growth of 38%, excluding the prior year one-off gain of $96.3 million on disposal of the Group’s interest in an integrated resort in Korea.


Resorts World Sentosa (“RWS”) is proud to be winners at the recent Singapore Tourism Awards 2018 organised by Singapore Tourism Board. We received awards in two categories, including Best Dining Experience for CURATE restaurant and its first Exceptional Achievement Award for our signature Halloween Horror Nights at Universal Studios Singapore (“USS”) as the Best Leisure Event for three consecutive years (2015-2017). USS continuously seeks to enhance visitor experience through refreshing and innovative offerings such as the marquee events Trollstopia and Jurassic World: Explore and Roar. In the MICE space, we saw good growth momentum and attracted high calibre international events such as the Alibaba Global Course that we hosted in April 2018, a signature series of public lectures presented by the Chinese e-commerce giant, that was attended by over 2,000 participants.

 A step up from previous RWS theatrical productions, our mandarin musical “Super Mommy” was warmly received during its six-week run. From 30 June to 15 July, RWS turned up the heat with “RWS Football Fever 2018”, one of the key highlights included broadcast of live matches on super-wide 270° screens to create Singapore’s most immersive spectator experience of World Cup 2018 for our guests, an entertainment extravaganza which drew an immense turnout. As Asia’s premier lifestyle destination, RWS will stage a series of exciting gourmet and lifestyle events. Following the popularity of the gastronomic events last year, over the next two months, we will be bringing back the “RWS Street Eats” featuring iconic street eats from Southeast Asia and “The Great Food Festival”, Singapore’s largest curated food and lifestyle event led by international celebrity chefs.

 In Japan, the anticipated Integrated Resorts (“IR”) Implementation Bill was enacted by the Japanese Diet on 20 July. The Group has been gearing up for this expansion opportunity and has been hiring a new team of Japanese nationals in different disciplines to prepare for the bid. 

YZJ

Nice closing today at $1.08.

Another breaking out moment!

The only concern was the volume is not high.

 Looks like it may move up to fill up the Gap at $1.11. Crossing over with ease + high volume that may drive the price higher to $1.15 then $1.19..

 Not a call to buy or sell.

 Please do your own due diligence.

 Yangzijiang Shipbuilding (Holdings) Ltd., an investment holding company, operates in the shipbuilding activities. The company operates through Shipbuilding, Investments, Trading, and Others segments. It produces a range of commercial vessels, such as containerships, dry bulk carriers, oil tankers, and liquefied natural gas (LNG) carriers. The company also engages in the production and processing of steel structures. In addition, it facilitates the sale and export of ships for the ship builder; trades in ship related equipment and shipbuilding related materials/supplies; provides microcredit to enterprises and individuals; invests in held-to-maturity financial assets; and supplies marine equipment and materials. Further, the company is involved in the ship demolition and vessel owning activities. It primarily serves ship owners in the United States, Canada, the United Kingdom, Germany, France, Greece, Norway, Argentina, Turkey, Bulgaria, Poland, Australia, Japan, South Korea, Singapore, India, Thailand, Bangladesh, Mainland China, Hong Kong, Taiwan, etc. The company was founded in 1956 and is headquartered in Jingjiang, China.

DBS

Looks like it may breakdown $25.00 barrier and head lower to retest $24.50 then $24.00.

 For those that are waiting to accumulate this Bank counter I think this round it may likely happen .

 U.S. stocks fell on Wednesday as lingering concerns over Turkey's financial crisis weighed on investor sentiment. Declines in tech shares and banks also pressured the broader indexes.

The Dow Jones Industrial Average dropped 206 points, while the S&P 500 declined 0.8 percent. The Nasdaq Composite pulled back 0.9 percent. Bank shares fell broadly as Bank of America and Citigroup both dropped more than 1 percent. J.P. Morgan Chase also fell 0.8 percent. The tech sector also dropped more than 0.6 percent.(cnbc.com)

DBS Group Holdings Ltd, an investment holding company, provides commercial banking and financial services in Singapore, Hong Kong, rest of Greater China, South and Southeast Asia, and internationally. It operates through Consumer Banking/Wealth Management, Institutional Banking, Treasury Markets, and Others segments. The Consumer Banking/Wealth Management segment offers banking and related financial services, including current and savings accounts, fixed deposits, loans and home finance, cards, payments, investment, and insurance products for individual customers. The Institutional Banking segment provides financial services and products for bank and non-bank financial institutions, government-linked companies, large corporates, and small and medium sized businesses. Its products and services comprise short-term working capital financing and specialized lending; cash management, trade finance, and securities and fiduciary services; treasury and markets products; and corporate finance and advisory banking, as well as capital markets solutions. The Treasury Markets segment is involved in structuring, market-making, and trading in a range of treasury products. The Others segment offers stock broking and Islamic banking services. The company operates approximately 280 branches across 17 markets. DBS Group Holdings Ltd was founded in 1968 and is headquartered in Singapore.

Fu Yu

2nd quarter result is out .
Looks quite a good set of financial numbers.

Dividend increase from 0.25 to 0.3 cents.

NAV of 21 cents.

Looks like price may rise back to 19 then 20 cents.

Zero debts.
Net cash per share is about 9.8 cents .

 Revenue   For  the  three  months  ended  30  June  2018  (“2Q18”),  the  Group  registered  revenue  of  S$50.8 million,  up  7.4%  from  S$47.3  million  in  2Q17.  This  was  led  by  higher  sales  from  the  Group’s operations  in  Singapore  and  Malaysia.

 On  a  quarter-on-quarter  basis,  Group  revenue  was also  approximately  9.6%  higher  than  S$46.4  million  recorded  in  1Q18.   For  the  six  months  ended  30  June  2018  (“1H18”),  Group  revenue  improved  5.6%  to  S$97.2 million  from  S$92.0  million  in  1H17.  The  increase  in  revenue  was  attributed  mainly  to  the Singapore  and  Malaysia  segments  which  registered  higher  sales  in  1H18. Sales  generated  from  the  Singapore  operations  in  1H18  gained  15.6%  to  S$22.8  million  from S$19.7  million  in  1H17,  driven  mainly  by  higher  sales  of  products  in  the  printing  &  imaging and  automotive  segments.

 The  Malaysia  segment  also  recorded  sales  growth  of  21.0%  to S$18.5  million  in  1H18  from  S$15.3  million  in  1H17  on  the  back  of  higher  orders  for  products in  the  consumer  and  medical  segments.  On  the  other  hand,  sales  from  the  China  operations in  1H18  dipped  marginally  by  2.0%  to  S$55.9  million  from  S$57.0  million  in  1H17  due  mainly to  weaker  sales  of  networking  &  communications  products.   As  a  result,  the  revenue  contributions  from  Singapore  and  Malaysia  operations  in  1H18 expanded  to  23.4%  and  19.1%  compared  to  21.4%  and  16.7%  respectively  in  1H17.  China segment  accounted  for  a  lower  57.5%  of  Group  revenue  in  1H18  as  compared  to  61.9%  in 1H17.

  Gross  Profit Gross  profit  in  2Q18  climbed  17.1%  to  S$8.6  million  from  S$7.3  million  in  2Q17. Correspondingly,  gross  profit  margin  widened  to  16.9%  from  15.5%  in  2Q17.  For  1H18,  the Group’s  gross  profit  margin  also  improved  slightly  to  16.5%  from  16.1%  in  1H17 notwithstanding  selling  price  pressure  in  the  industry.  The  increase  in  gross  profit  margin  was attributed  to  the  Group’s  continual  efforts  to  improve  its  production  processes  through  lean operations  and  greater  automation  to  achieve  better  cost  and  operational  efficiencies. 

 Other  Income Other  income  in  2Q18  and  1H18  of  S$1.8  million  and  S$3.6  million  respectively  were  stable when  compared  to  2Q17  and  1H17. 

 Profit  Before  Income  Tax 

 Group  profit  before  income  tax  increased  significantly  to  S$5.2  million  in  2Q18  from  S$1.5 million  in  2Q17  on  the  back  of  higher  revenue  and  gross  profit,  as  well  as  other  operating income.  As  a  result  of  the  stronger  performance  in  2Q18,  the  Group’s  profit  before  income  tax in  1H18  more  than  doubled  to  S$6.2  million  from  S$2.8  million  in  1H17.   The  Group’s  profit  before  tax  excluding  foreign  exchange  impact  and  share  of  results  of  joint venture  (“operating  profit”)  increased  to  S$3.1  million  in  2Q18  from  S$2.5  million  in  2Q17. Operating  profit  of  S$5.6  million  in  1H18  was  also  higher  than  S$5.3  million  in  1H17. 

s  within  the  Group. Net  Profit  Attributable  to  Owners  of  the  Company The  Group  recorded  a  substantial  increase  in  net  profit  attributable  to  owners  of  the  Company to  S$4.0  million  in  2Q18  million  from  S$0.7  million  in  2Q17.  Net  profit  attributable  to  owners  of the  Company  for  1H18  also  climbed  by  262.7%  to  S$4.6  million  from  S$1.3  million  previously.

AEM

Looks like we can see a sigh of relief as most of the Tech counters has been overly sold down and is fighting to stabilise at the current price range.

AEM will need to overcome the immediate resistance at 72.5 cents . Breaking our of 72.5 with ease _ high volume, that may likely drive the price higher towards 76.5 cents .

The next hurdle will have to overcome the 80 cents barriers in order to rise to re-challenge 85 cents level.

Not a call to buy or sell.

Please do your own due diligence.

AEM Holdings Ltd, an investment holding company, provides solutions in equipment systems; and precision components and related manufacturing services for various industries. It operates through Equipment Systems Solutions and Precision Component Solutions segments. The company provides high density modular test handlers, wafer handling systems, hot spot testers, and smartcard backend handlers for use in semiconductor, solar cell, and smartcard manufacturing facilities, as well as related tooling parts; and designs, develops, and manufactures precision engineering products, such as test sockets, device change kits, stiffeners, golden units, holding jigs, preventive maintenance kits, and precision mechanical assembly modules for use in the electronic, life science, instrumentation, and aerospace industries, as well as offers engineering services. It also engages in the research, development, and production of communications and industrial test solutions. The company offers its products through a network of sales offices, associates, and distributors in Asia, Europe, and the United States. AEM Holdings Ltd is headquartered in Singapore.