– market is expected to turn risk-off on renewed geopolitical worries; US and NK
– Technically, MACD or the STI has exhibited a bearish crossover.
– Underlying support for the index lies at 3,275 with topside resistance at 3,360.
– Raffles Medical to watch for parital entry at 1.150 and below.
– DBS is impressive, came back from a low of 20.85 on tues. Today 21.32. the 30 cents dividend will XD this friday.
– If looking to buy Capitaland, a good entry to consider will be $3.65 where it coincides with the 50day average.
feel free to share with me any info or insights that you may have.
– 3QFY17 net profit surged 59.9% to $60.7m mainly from increased associate income arising from its 18.74% stake in Vinamilk.
– This brought 9MFY17 net profit to $87m (+15.8%) or 76% of the FY17 consensus estimate.
– However, revenue in the quarter slipped 8.6% to $483.1m on weaker contributions across beverages (-17.1%) and dairies (-3.3%) on competitive pricing pressures, as well as reduced contribution from printing & publishing (-9.2%).
– Bottom line was weighed by increased FX loss of $4.6m (3QFY16: $0.9m loss) although mitigated by higher investment income of $33.4m (+107.3%).
– NAV/share at $1.98.
– 3QFY17 results missed estimates on a 1.1% slip in net profit to $3.4m, as operating expenses rose at a faster pace from business expansion.
– Revenue grew 6.4% to $34.8m on increased contributions across Singapore and China outlets.
– Gross margin held at 62.7% (-0.2ppts).
– Opened its fourth China outlet in Beijing last month and first franchised restaurant in Ho Chi Minh City in May.
– Trades at trailing P/E of 24.6x.
– 2Q17 net profit of $1.9m (+12%) came in at the low end of estimates.
– Revenue climbed 12% to $9.2m, bolstered by new contributions from four recently-acquired general clinics in Singapore.
– Gross margin held relatively steady at 47.3% (-0.2ppt).
– Interim DPS raised to 0.5¢ (2Q16: 0.22¢).
– Last traded at 20x FY17e P/E.
*Hong Leong Finance
– 2Q17 net profit soared 89% to $20.9m, mainly helped by lower interest expense (-30.2%) and reduced staff costs (-6.4%).
– However, on the back of a smaller loan base of $9.56b (-4.8%), net interest income declined 10.1% to $54.8m.
– Proposed higher interim DPS of 4¢ (2Q16: 3¢).
– NAV/share at $3.85.
– 2Q17 net profit slumped 72% to $8.1m in absence of a $9.7m disposal gain booked last year from sale of its 20% stake in the KL business.
– Revenue edged 1% higher to $209.8m from rise in bakery operations (+5%) on strength in Philippines, but was pared by weakness in primary production (-2%) on lower ASPs.
– Bottom line was hit by higher distribution costs due to higher fuel prices.
– Maintained interim DPS at $0.01.
– NAV/share at $0.934.
*BHG Retail REIT
– 2Q17 DPU was flat at 1.35¢ despite a larger unit base (+4.7%).
– Revenue rose 3.2% to $15.8m on positive rental reversion and improved occupancy, although pared by a weaker yuan, while NPI rose at a faster clip to $10.9m (+5.7%) from favourable tax in China.
– Portfolio occupancy edged up 0.3ppt q/q to 98.9%, while aggregate leverage ticked 0.1ppt lower to 32.4%.
– Trades at 2Q annualised yield of 7.3% and 0.88x P/B.
– 2Q17 net profit climbed 3.1% to $3.8m, on 14% rise in revenue to $34.9m.
– Top line benefitted from higher property development contribution from City Gate project, improved occupancy in investment properties, and newly acquired The Imperial Hotel in UK.
– Gross margin expanded 5.9ppt to 41.6%, bolstered by its new UK hotel.
– Bottom line was dragged by an absence of tax credit.
– NAV/share at $0.157.
– 1QFY18 net profit slipped 5% to $5.8m as revenue dropped 25% to $45.7m.
– The decline in sales was due to weakness in the design-and-build segment (-28%) on reduced work progress and less contracts secured, while leasing (-7%) was impacted by AusGroup’s early lease termination of the 36 Tuas Road property.
– Gross margin expanded to 32% (+10ppts) from improved productivity and cost savings from projects.
– NAV/share at $0.736.
– 2Q17 net profit jumped 20% to $1.7m on lower taxes.
– Revenue leapt 37% to $41.1m on stronger pawnbroking business, as well as retail and trading of pre-owned items.
– However, gross margin of 26.4% (-3.6ppt) was squeezed by higher material costs.
– Bottom line was alsoy weighed by increased operation costs due to the business expansion in Singapore and Malaysia, as well as higher finance costs.
– NAV/share at $0.1844.
– 2Q17 net profit tumbled 43% to $1.2m, from contraction in gross margin to 22% (-7.1ppts) and FX loss of $0.3m (2Q16: $0.3m gain).
– Revenue grew 21% to $62.8m on newly secured projects.
– NAV/share at $0.285.
– Swung to 2Q17 net loss of US$5.6m (2Q16: US$15.2m profit) in absence of a US$24.1m write-back for legal liability.
– Revenue jumped 47.8% from a low base to US$3.5m on increased sales of chocolate® PTA Balloon Catheter to Medtronic.
– However, gross margin compressed 19.5ppt to 26.6% following the termination of distribution agreement with Cordis.
– Net liability value at US$0.01/share.
News for today 10/8/2017:
– US stocks fall on North Korea worrieshttp://www.straitstimes.com/business/companies-markets/us-stocks-fall-on-north-korea-worries?xtor=CS3-18; What War Between North Korea and the U.S. Might Look Like https://www.bloomberg.com/news/articles/2017-08-09/what-u-s-north-korea-hostilities-might-look-like-quicktake-q-a; Tillerson Seeks to Calm Tension in Asia After Trump’s Korea Remarks https://www.bloomberg.com/news/articles/2017-08-09/tillerson-calms-north-korea-tensions-after-trump-rattles-markets; What the U.S. Military Does on Guam and Why North Korea Cares: Q&A https://www.bloomberg.com/news/articles/2017-08-09/q-a-what-does-the-us-military-do-on-the-island-of-guam
– Evans sees Sept Fed balance-sheet move, tech sapping prices http://www.businesstimes.com.sg/government-economy/evans-sees-sept-fed-balance-sheet-move-tech-sapping-prices
– Swiss franc up the most against euro since 2015 http://www.businesstimes.com.sg/companies-markets/swiss-franc-up-the-most-against-euro-since-2015
– China factory inflation holds up on steady demand http://www.straitstimes.com/business/economy/china-factory-inflation-holds-up-on-steady-demand?xtor=CS3-18
– Hong Kong’s crowded currency trade enters dangerous territory http://www.straitstimes.com/business/hong-kongs-crowded-currency-trade-enters-dangerous-territory?xtor=CS3-18
– Normanton Park to be put up for en bloc sale at a minimum S$800m http://www.businesstimes.com.sg/real-estate/normanton-park-to-be-put-up-for-en-bloc-sale-at-a-minimum-s800m
– Amazon’s Singapore play a precursor to S-E Asia e-commerce battle http://www.businesstimes.com.sg/companies-markets/amazons-singapore-play-a-precursor-to-s-e-asia-e-commerce-battle
– Reits generate average total return of 17.6% year-to-date http://www.straitstimes.com/business/reits-generate-average-total-return-of-176-year-to-date?xtor=CS3-18
Stocks to watch today 10/8/2017:
– Aspial Corp last close $0.255, 52wk high/low $0.325/$0.24 – Company’s Q2 loss widens to $6.5m http://www.straitstimes.com/business/companies-markets/aspial-corps-q2-loss-widens-to-65m?xtor=CS3-18
– Asiaphos last close $0.099, 52wk high/low $0.122/$0.072 – AsiaPhos says no casualty at its mines and facilities from Sichuan quake http://www.businesstimes.com.sg/companies-markets/asiaphos-says-no-casualty-at-its-mines-and-facilities-from-sichuan-quake
– Centurion last close $0.545, 52wk high/low $0.545/$0.305 – Centurion to buy 160-unit student housing in the US for US$70m http://www.businesstimes.com.sg/companies-markets/centurion-to-buy-160-unit-student-housing-in-the-us-for-us70m
– GuocoLand last close $2.02, 52wk high/low $2.05/$1.78 – Company looks to rise in private home prices http://www.straitstimes.com/business/guocoland-looks-to-rise-in-private-home-prices?xtor=CS3-18
– M1 last close $1.75, 52wk high/low $2.81/$1.75 – Company rolls out S-E Asia’s first commercial nationwide IoT network http://www.straitstimes.com/business/m1-rolls-out-s-e-asias-first-commercial-nationwide-iot-network?xtor=CS3-18
– Pan-United last close $0.57, 52wk high/low $0.75/$0.52 – CEO: Change in mindset key to staying ahead http://www.straitstimes.com/business/companies-markets/pan-united-ceo-change-in-mindset-key-to-staying-ahead?xtor=CS3-18
– Top Glove last close $1.81, 52wk high/low $1.88/$1.48 – Remove obstacles to encourage investment: Top Glove founder http://www.straitstimes.com/business/companies-markets/remove-obstacles-to-encourage-investment-top-glove-founder?xtor=CS3-18
– UOB last close $24.27, 52wk high/low $24.60/$17.51 – The way forward is digital, says UOB’s Wee Ee cheong http://www.straitstimes.com/business/banking/the-way-forward-is-digital-says-uobs-wee-ee-cheong?xtor=CS3-18