Ascendas Reit

TA wise, looks like it is having a bearish retracement after hitting the high of 2.96.
Last Friday, it has gap down and close lower at 2.87 coupled with quite a high volume, this is rather bearish!

Looks like we may be experiencing a reversal trend.


Waiting for Mr.Market to tells us the direction.
A breaking down of 2.87 with high volume, that may likely see the share price sliding down further towards 2.80 then 2.75 with extension to 2.70 level.

DPU of 15.8 cents.
yield of 5.5%
NAV of 2.09.

Seems expensive at the current price level of 2.87.

Not a call to buy or sell.

Pls dyodd.



Ascendas Reit is Singapore’s first and largest listed business space and industrial real estate investment trust. As at 31 December 2018, investment properties under management stood at S$11.1 billion, comprising 98 properties in Singapore, 35 properties in Australia and 38 properties in the United Kingdom. The portfolio includes business and science park/suburban office properties, high-specifications industrial properties, light industrial properties, logistics and distribution centres, integrated development, amenities and retail properties. These properties house a tenant base of around 1,350 international and local companies from a wide range of industries and activities, including research and development, life sciences, information technology, engineering, light manufacturing, logistics service providers, electronics, telecommunications, manufacturing services and back-room office support in service industries. Major tenants include Singtel, DSO National Laboratories, Citibank, DBS, Wesfarmers, Ceva Logistics, JPMorgan and A*STAR Research Entities, to name a few. Ascendas Reit is listed in several indices. These include the FTSE Straits Times Index, the Morgan Stanley Capital International, Inc (MSCI) Index, the European Public Real Estate Association/National Association of Real Estate Investment Trusts (EPRA/NAREIT) Global Real Estate Index and Global Property Research (GPR) Asia 250. Ascendas Reit has an issuer rating of “A3” by Moody’s Investors Service. Ascendas Reit is managed by Ascendas Funds Management (S) Limited, a wholly-owned subsidiary of the Singapore-based Ascendas-Singbridge Group.

Japfa

The latest FY2018 financial results seems a huge jump in Net profit of $178m versus $56m last year.
An increase of 271%.

EPS of 7.4 cents.
PE 8.9x base on current price of 67 cents.
Dividend including special dividend of 2 cents , an increase of 100% base on last year dividend of 1 cents.


The only concern is that their total debts/equity ratio is 107%.

Cash flow wise, seems quite healthy.

The amount of FCF is able to cover the dividend payout of $35m for 2 cents dividend .

cash-on-hand is about 164m.

Chart wise, it is now stuck in a consolidation mode!
A breaking out of 69.5 cents with east + good volume that may drive the price higher to test 72 cents with extension to 76 cents and above.

Not a call to buy or sell.

Pls dyodd.



Japfa Ltd., an industrial agri-food company, produces and sells dairy products, protein staples, and packaged food products in Singapore, Indonesia, Vietnam, China, India, Myanmar, and internationally. It operates an integrated network of farming, processing, and distribution facilities. The company provides animal feed; animal proteins, including poultry, beef, swine, and aquaculture; raw milk, fresh milk, UHT milk, and cheeses; and processed meats, such as chicken nuggets, meat balls, and shelf-stable sausages under the So Good and So Nice brands, as well as manufactures and markets smallpack UHT liquid milk under the Real Good brand and shelf-stable sausages under the So Yumm brand. Japfa Ltd. was incorporated in 2008 and is headquartered in Singapore. Japfa Ltd. operates as a subsidiary of Rangi Management Limited.

Genting Sing

RWS said that its $4.5 billion development investment will add more than 164,000 sq m, about half of its current gross floor area. This will include a new waterfront lifestyle complex housing two hotels, retail spaces and eateries. There are also plans for an unmanned shuttle to run along the Sentosa Boardwalk, which connects the resort island with VivoCity. New experiences will open every year from 2020 until the expansion is completed in 2025, RWS said in a statement.


RWSPL will undertake the expansion of the IR over an expected period of five (5) years. This will see the existing IR property expanded with approximately 50% of new gross floor area (“GFA”), adding 164,000 square metres of GFA of leisure and entertainment space. Developments and enhancements that will be carried out in connection with the Expansion Development, include the following:

(a) expansion of Universal Studios Singapore, with two (2) new highly themed and immersive environments – Minion Park and Super Nintendo World;

(b) expansion of the S.E.A. Aquarium to be re-branded as "Singapore Oceanarium";

(c) conversion of the Resorts World Theatre into a new Adventure Dining Playhouse;

(d) expansion of in-resort accommodation with up to 1,100 more hotel rooms at a new waterfront lifestyle complex and within the central zone of Resorts World Sentosa ("RWS");

(e) an enhanced waterfront promenade to be lined with restaurants and retail outlets, and a spectacular public attraction;

(f) expansion of Meetings, Incentives, Conferences and Exhibitions (MICE) facilities which will bring in more events into Singapore; and

(g) development of a driverless transport system ("DTS") which will enhance last-mile connectivity to bring greater footfall to RWS and the rest of Sentosa Island.


The exclusive rights to run a casino here extended until the end of 2030. But their gambling revenue will be further taxed by the Government. In order to rein in problem gambling, casino levies on Singapore residents will be increased. The daily levy will go up from $100 to $150 from Thursday (April 4), while the annual levy is being increased from $2,000 to $3,000.

RATIONALE FOR THE EXPANSION DEVELOPMENT 

The Expansion Development is a significant reinvestment and expansion opportunity for the Company, setting the stage for the Group's sustained future growth. The reinvestment committed by the Group reaffirms its vote of confidence in the Singapore market known for its stable and probusiness environment governed by a strong regulatory framework and pragmatic government. When completed, the expanded IR is anticipated to continue to provide a distinctive purpose-of-visit tourism experience and further broaden the IR’s appeal to a wider spectrum of premium customers and millennials. It will integrate with the future Greater Southern Waterfront and is expected to become the centrepiece of the new entertainment hub of Asia. The Group is well positioned to stay ahead of the intensifying international and regional competition and will continue to lead the integrated resort market in Asia as the premium lifestyle destination builder.


FINANCIAL EFFECTS OF THE EXPANSION DEVELOPMENT

The Expansion Development will be funded by way of internal resources (including operating cash flows) and/or bank borrowings and the Expansion Development is not expected to have a material impact on the Group's earnings per share or net tangible asset value per share for the current financial year.

Looking at the financial results for FY2018, we can see that Genting Sing has cash-on-hands of $4.2b. The borrowing is pretty minimum of $208m.

I think they have no problem to absorb this expansion plan quite comfortably.

Their FCF is also pretty healthy and has no problem to cover their dividend payout .

The selling down from 1.07 to 96 on the next day after the announcement of this expansion plan , I think is overly reacted and purely driven by fear and market sentiment + speculation.


I think market may slowly digest this piece of news and the share price may rise back towards 1.00 and above.

Chart wise, I think it may likely move up to re-capture 1.01 level.
Breaking out of 1.01 with ease plus good volume that may drive the price higher towards 1.05 with extension to 1.10 level.



EPS of 6.27 cents.
PE of 15.7.
Dividend of 3.5 cents.
Yield of 3.55%. Current price of 98.5 cents.

Not a call to buy or sell.

Pls dyodd.

Koufu

Chart wise,looks Bullish!

It had a very impressive running up from 65 cents to a high of 81 cents .

The current price of 80.5 cents is trading near it's all time high io 81 cents looks like it may likely re-capture 81 cents and continue to trend higher.

Short term wise ,if it is able to breakout 81 cents smoothly+ good volume then it may rise to 85 then 90 cents with extension to 1.00.

NAV of 16.5 cents .

Yearly dividend of 2.2 cents.

Yield of 2.7%.

Not a call to buy or sell.

Pls dyodd.

SingTel

Lai ah! SingTel breakout 3.10 level and surge higher towards 3.20 and beyond .

Pls dyodd.

1st April 2019
Chart wise, looks Bullish!
Yesterday it has managed to overcome the resistance at 3.04 and close well at 3.05, coupled with good volume this is rather positive.

Short term wise, I think it may move up to challenge 3.10 level.
Breaking out with ease + good volume that may drive the price higher towards 3.20 then 3.27 level.


Not a call to buy or sell.

Pls dyodd.


15th March 2019
SingTel managed to bounce-off from 2.92 and stage a nice recovery to close at 3.03 yesterday, looks Bullish!

A nicenwhite soldiers ( 2 Gap up) coupled with high volume this is rather positive!


Likely to rise further to retest 3.10!
Crossing over with ease + good volume that may drive the price higher to 3.20 then 3.25 level .

Not a call to buy or sell.

Pls dyodd.



1st March 2019
SingTel is trading at 2.94 which is pretty attractive that come with a dividend yield of 5.95%.

 The management has mentioned during the financial result for Full year 2018 that the company likely to maintain its ordinary dividends at 17.5 cents per share for the next two financial years.

In a sideways-moving market environment in which the Dividend yield may well be All that you get for the next few years, the telco standout .

Quote: Dividend Policy Singtel is committed to delivering dividends that increase over time with growth in underlying earnings. Its dividend payout ratio is between 60% and 75% of underlying net profit. Singtel is also committed to maintaining an optimal capital structure and investment credit grade ratings.


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

 For the past 5 years track record , its FCF has no problem to maintain in supporting the dividend payout policy . I am looking to add at 2.90 and below .

Not a call to buy or sell.



 Pls dyodd.

DBS

Nice breakout today, looks Bullish!
It has managed to cross over the recent high of $25.54 level and close well at $25.59 ,coupled with quite a good volune this is rather positive!

Short term wise, I think it may likely move up to test $26.10 level then  $26.60 with extension to $27.10 level .

Not a call to buy or sell.

Pls dyodd.