Ezotop

Thursday, February 1, 2024

Lendlease Reit - Results is out! Gross Revenue is up 17.9 percent to 119.9m, NPI is up 22.2 percent to 93.3m ,Distribution Income is down 12% to 49.3m due to higher finance costs which was up quite a lot to 27m as compared to 7.3m last year. DPU is down 14.5% to 2.1 cents versus 2.5 cents last year.

 Lendlease Reit  - Results is out! Gross Revenue is up 17.9 percent to 119.9m, NPI is up 22.2 percent to 93.3m ,Distribution Income is down 12% to 49.3m due to higher finance costs which was up quite a lot to 27m as compared to 7.3m last year. DPU is down 14.5% to 2.1 cents versus 2.5 cents last year.




Gearing is 40.5%.

XD of 2.1 cents on 8th February. 

Pay date 27 March.

At 62 cents,  yield is about 6.7%.

Pls dyodd. 




Chart wise,  bullish mode!

As can be seen on the chart, Bull is in control and closed well at 60.5 cents crossing over the resistance at 60 cents,  looks rather positive!



Short term wise,  I think likely to rise up to test 64 cents than 65.5 and 68.5 cents.

Not a call to buy or sell!

Pls dyodd. 



Is getting interesting!



She needs a nice crossing over of 60 cents in order to rise up further towards 64 than 66 cents! 

Pls dyodd. 


Chart wise,  bullish mode!

It has rebounded nicely from the low of 49.5 cents and closed well at 57.5 cents looks rather bullish!



Short term wise,  I think likely to rise up to reclaim 59.5-60 cents and rises higher to revisit 64 cents than 66 cents!

Please dyodd.

3rd quarter results update. 

No financial numbers is being mentioned on the update!



Mainly saying occupancy is the same as last quarter 99.9%. ICR 3.9% seem not bad! 

Gearing has edged up to 40.6%. I think financial costs may increase again! 

Pls dyodd. 



Chart wise, it has managed to bounce-off from 49 cents to close at 55.5 cents seems rather positive! 

Immediate resistance is at 57 cents. 

let's see how market react tomorrow!

 Chart wise,  bearish mode!



No sign of reversal!

How far it will go lower is a guessing number! 

I think is good to stay cautious!

Please dyodd.

 Is this a value trap or golden opportunity? 

I think I am gearing more towards extra cautious mode! 

The market is weak and all waiting for Fed meeting in September whether will there be another hike or postpone till November. 

NAV 0.787. Yearly dividend is about 4.7 cents.  Yield is about 8.4%.

The current high interest rates environment is likely increase their operation costs and thereby eating into their distribution income and lower the dpu payout.



Chart wise, looks like the same scenario may play out like Ireit chart patterns. 

short term wise, it may go down to revisit 50 cents.

Please dyodd.

Quote: citi analyst - LREIT’s gearing for the 4QFY2023 ended June 30 stood at 40.6%, which is its highest level since it listed on October 2019.
“We estimate a higher look-through (including $0.4 billion [in] perpetual securities (perps) and debt at Parkway Parade Partnership’s level) gearing of 50.5%, which ranks highest among S-REITs under our coverage (average 40.1%),” Lee writes. Is good to be extra cautious!


The manager of Lendlease Global Commercial REIT (“Lendlease Global REIT”), announced today that it has successfully completed its Initial Public Offering (“IPO”) of 387,474,987 units in Lendlease Global REIT (“Units”) at S$0.88 each (“Offering Price”), in connection with the proposed listing.

IPO price at 0.88 I think likely a history! 

Those got it at IPO is still loosing money even with dividend collected.

Pls dyodd.

Wednesday, January 31, 2024

Great Eastern Holdings - Chart wise, she has retreated from 18.38 and went down to touch 17.50 this morning. Looks like the gains has more or less returning back to the market! Results is due on 26th February morning! Do take note!

  Great Eastern Holdings - Chart wise, she has retreated from 18.38 and went down to touch 17.50 this morning.  Looks like the gains has more or less returning back to the market! Results is due on 26th February morning! Do take note!



At 17.50, estimating yearly dividend of 90 cents,  yield is about 5.14%.

The yield is not bad! 

Pls dyodd.

Great Eastern  - She is pulling back for those that are waiting sideline to board! Healthy profit taking! 



She is back to 17.93. I think

17.80 might be a good pivot point. 

Results will be out on 26th February 2024. Dividend is coming!

Pls dyodd.


Great Eastern  - She is looking great fir a nice breakout at 18.00 and rises higher towards 18.28 than 18.80!Final dividend of about 55 cents for FY RESULT in Feb,Huat ah!



Beyond that, she may likely retest the recent high of 19.25.

Pls dyodd.


 Chart wise,  bullish mode!



If she is able to reclaim 18.00 smoothly we may likely see her rising up to test 18.50 than 19.18.

Pls dyodd.

Yield is about 5.08% at 17.73.

Pls dyodd.


Founded in 1908, Great Eastern is the most established life insurance group in Singapore and Malaysia. With over S$100 billion in assets and more than 15 million policyholders, including 12 million from government schemes, we provide insurance solutions to customers through three successful distribution channels – a tied agency force, bancassurance, and financial advisory firm, Great Eastern Financial Advisers.

The Group also operates in Indonesia and Brunei and has a presence in China as well as a representative office in Myanmar.

Great Eastern is a subsidiary of OCBC Bank, established in Singapore since 1932. Our asset management subsidiary, Lion Global Investors Limited, is one of the leading asset management companies in Southeast Asia.

The Great Eastern Life Assurance Company Limited and Great Eastern General Insurance Limited have been assigned the financial strength and counterparty credit ratings of "AA-" by S&P Global Ratings since 2010, one of the highest among Asian life insurance companies.

Your trusted partner in general and group insurance

The Group's general insurance business is underwritten by its wholly-owned subsidiary, Great Eastern General Insurance Limited (GEG), formerly known as the Overseas Assurance Corporation Limited (OAC) founded in 1920.

Great Eastern General Insurance Limited (GEG) offers a wide range of commercial and personal line products and distributes its products through bancassurance, agents, brokers, financial advisors and direct channels.

GEG strives to make it easy for customers and intermediaries by providing them with responsive support, innovative products, fast claims and hassle-free enrolment. Our comprehensive suite of insurance solutions include Auto, Home, Travel, Personal Accident, Maid for retail customers and Small and Medium Business package and various Property and Casualty insurance for businesses.

Great Eastern is also one of Singapore’s top 3 insurers in the Group Insurance market and we provide insurance coverage for close to half a million employees and their families through our group insurance schemes.

With more than 40 years of experience in the Group Insurance and a subsidiary of OCBC Bank (the longest established Singapore bank, formed in 1932), our products are well received and trusted by HR professionals in the region with its financial strength and stability.
 

A leader in bancassurance

Great Eastern became the first insurer to establish a bancassurance network in Singapore in an exclusive partnership with OCBC Bank in 1992. Since then, we have strengthened our partnership and continue to be a market leader in bancassurance as we develop new growth opportunities in this area, to deliver our quality solutions and customer service with convenience to OCBC customers.
 

Great Eastern properties

Properties are an important part of the Great Eastern Life Assurance Co. Ltd, portfolio. We offer a selection of residential, commercial and retail units available for lease throughout Singapore.

Tuesday, January 30, 2024

CapLand IntCom Tr - She is slowly climbing up again and managed to touch 2.02, looks rather positive! A nice breakout of 2.02 smoothly we may see her revisiting 2.08 again!

  CapLand IntCom Tr  - She is slowly climbing up again and managed to touch 2.02, looks rather positive! A nice breakout of 2.02 smoothly we may see her revisiting 2.08 again! 




 Quote: 

Temasek's Fullerton acquires 795,700 units in CICT at $1.9019 each.



Looks like they are seeing price trading at an attractive price level.

Likely to rise up to test 2.09 than 2.16.

Pls dyodd.


CapLand IntCom Tr - Fantastic! She has managed to cross over 1.91 smoothly and closed well at 2.01, this bullish momentum may likely continue to rise higher towards 2.09-2.10.



Huat ah!

Pls dyodd.

Hosey! She is going to Gap up and run away! 

Likely to cross over 1.91 smoothly and rises up towards 2.00 than 2.07.



Pls dyodd.

Fed Holds Rates Steady, Indicates Three Cuts Coming in 2024

The Federal Reserve on Wednesday held its key interest rate steady for the third straight time and set the table for multiple cuts to come in 2024 and beyond.

The Dow Jones industrial average hit its first record closing high since January 2022 and the S&P 500 and Nasdaq rallied more than 1% each on Wednesday after the Federal Reserve signaled that its interest rate-hiking policy is at an end and that it sees lower borrowing costs in 2024.


 When will she be able to overcome the resistance at 1.90! A nice breakout smoothly plus high volume would likely see her rising up to 1.95-1.97 than 2.07.



Pls dyodd. 


Looks like she may cross over the resistance at 1.90 any moment! 



Pathing way foe 1.95 than 2.00 with extension to 2.09.

Pls dyodd.


  Chart wise,  bullish mode!



Short term wise,  she may likely rise up to test 1.90 Tyan 1.95 with extension to 2.07-2.09.

Not a call to buy or sell!

Please dyodd.

It seems like it is having a temporary rebound as the volume is still low not so convincing!



Pls dyodd. 


At 1.69, yield is about 6.27% of which I think is quite a gd yield for this giant retail cum grade A office reit.




NAV 2.12.

3rd quarter Results update will be out on 26th October. 

Not a call to buy or sell!

Pls dyodd. 


CapitaLand Integrated Commercial Trust (CICT or the Trust) is the first and largest real estate investment trust (REIT) listed on Singapore Exchange Securities Trading Limited (SGX-ST) with a market capitalisation of S$13.5 billion as at 31 December 2022. It debuted on SGX-ST as CapitaLand Mall Trust in July 2002 and was renamed CICT in November 2020 following the merger with CapitaLand Commercial Trust (CCT).


 Looking at the FY 2022 results the NPI is up 9.7% and achieved an increased of DPU from 10.40 to 10.58 cents. It looks like the rental income is improving!







The First Quarter 2023 update is as follow:

The NPI is up 11.3% to 276.3m and occupancy rate % has improved from 95.8 to 96.2.




The gearing is slightly from 40.90 to 40.40%.



The Average WALE is 3.7 years.




The Top 10 tenants are RC Hotels (Pte) Ltd, WeWork Singapore, GIC Private Limited, NTUC Enterprise Co-Operative Ltd & Temasek Holdings etc.




Total Property value is about 24.2 billion of which is the Biggest reit counter listed on the Local Singapore Exchange.

NAV is about 2.116.

Yearly dividend of about 10.58, Yield is about 5.6%(based on current price of 1.89).

I think gd pivot entry point is back!

Please dyodd.


Keppel Infra Tr - Results is out! Record Distribution Income, up 42 percent to 316.8m,Dividend increase 62 percent to 6.q9 cents including special dividend! Balance dividend of 0.96 cents for this round! But Operating profit is 33% lower than last year 2nd Half results!

 Keppel Infra Tr  - Results is out! Record Distribution Income,  up 42 percent to 316.8m,Dividend increase 62 percent to 6.q9 cents including special dividend! Balance dividend of 0.96 cents for this round! But Operating profit is 33% lower than last year 2nd Half results! 





At 50.5 cents,  yearly dividend of 3.84 cents. Yield is about 7.6 percent.  I think she is trading at Fully price value.

Xd 6th February. 

Pay date 15th February. 

Pls dyodd.



Monday, January 29, 2024

CapLand China Trust - 2nd Half results is out, dpu is down 11.8 percent to 3 cents versus 3.4 cents last year! Gearing 41.5 percent!

 posts 5.3% YoY  growth in net property income for

FY 2023, boosted by contribution uplift in 2H 2023




— 2H 2023 NPI grew by 10.5% YoY

— FY 2023 distributable income of S$113.9m (down 9.4%) and DPU of 6.74 cents (down 10.1%), impacted by foreign currency translation arising from SGD strength against the RMB as well as higher interest expense.

— gearing 41.5-%, with no refinancing needed till 2025

— ave cost of debt 3.57% with 82% debts on fixed.


NaV 1.21.


Yield is about 8.1% at 83 cents. 


Results is not good! 


Pls dyodd. 


Mapletree PanAsia Com Tr - 3rd quarter results is out! Gross Revenue is up 0.8 percent to 241.5m, NPI is up 1.7% to 182.4m but Distribution is down 9.1% due to higher finance costs increasing 14%. Gearing 40.8%.

 Mapletree PanAsia Com Tr  - 3rd quarter results is out! Gross Revenue is up 0.8 percent to 241.5m, NPI is up 1.7% to 182.4m but Distribution is down 9.1% due to higher finance costs increasing 14%. Gearing 40.8%. 





Occupancy rate 96.7%.

XD 5th February. DIVIDEND 2.2 CENTS.

Pay date 14th March.  

I think results is so so. 

PLS dyodd. 


 — gross revenue and NPI both gained 10.1% and 8.7% YOY for 2Q24

— DPU down 8.2% YOY to 2.24 cents

— portfolio occupancy 96.3%

— gearing 40.7% with 79.9% debt on fixed

— Stable financial performance: Singapore drove growth with better performance while largely stable contributions from overseas properties were weighed down by stronger SGD

— Festival Walk: Sustained revenue supported by near full occupancy, shopper and tenant sales recovery, and continued progress towards rental stabilisation



 





Mapletree Pan Asia Commercial Trust (“MPACT”) is a real estate investment trust (“REIT”) positioned to be the proxy to key gateway markets of Asia. Listed on the Singapore Exchange Securities Limited (“SGX-ST”), it made its public market debut as Mapletree Commercial Trust on 27 April 2011 and was renamed MPACT on 3 August 2022 following the merger with Mapletree North Asia Commercial Trust.




Its principal investment objective is to invest on a long-term basis, directly or indirectly, in a diversified portfolio of income-producing real estate used primarily for office and/or retail purposes, as well as real estate-related assets, in the key gateway markets of Asia (including but not limited to Singapore, China, Hong Kong1, Japan and South Korea).







MPACT’s portfolio comprises 18 commercial properties across five key gateway markets of Asia – five in Singapore, one in Hong Kong, two in China, nine in Japan and one in South Korea. They have a total NLA of 11.0 million square feet and valued at S$17.1 billion. 



Within Singapore, they are:

  • VivoCity – Singapore’s largest mall located in the HarbourFront Precinct;
  • Mapletree Business City (“MBC”) – a large-scale integrated office, business park and retail complex with Grade A building specifications, supported by ancillary retail space, located in the Alexandra Precinct;
  • mTower – an established integrated development with a 40-storey office block and a three-storey retail centre, Alexandra Retail Centre (“ARC”), located in the Alexandra Precinct;
  • Mapletree Anson – a 19-storey premium office building located in the Central Business District (“CBD”); and
  • Bank of America HarbourFront (“BOAHF”) – A premium six-storey office building located in the HarbourFront Precinct.

Outside Singapore, they are:

  • Festival Walk, Hong Kong – a landmark territorial retail mall with an office component;
  • Gateway Plaza, China – a Grade A office building with a podium area in Lufthansa sub-market within Beijing;
  • Sandhill Plaza, China – a Grade A business park development in Zhangjiang Science City, a key business and innovation hub in Pudong, Shanghai;
  • Japan Properties – nine freehold properties comprising five office buildings in Tokyo (IXINAL Monzen-nakacho Building, Higashi-nihonbashi 1-chome Building, TS Ikebukuro Building, Omori Prime Building and Hewlett-Packard Japan Headquarters Building); an office building in Yokohama (ABAS Shin-Yokohama Building) and three office buildings in Chiba (SII Makuhari Building, Fujitsu Makuhari Building and mBAY POINT Makuhari); and
  • The Pinnacle Gangnam, South Korea – a freehold Grade A office building with retail amenities located in Gangnam Business District, Seoul.
MPACT is one of the three REITs sponsored by Mapletree Investments Pte Ltd (“MIPL” or the “Sponsor”), a leading real estate development, investment, capital and property management company headquartered in Singapore.

MPACT is managed by MPACT Management Ltd. (“MPACTM” or the “Manager”), a wholly-owned subsidiary of MIPL. The Manager aims to provide unitholders of MPACT (“Unitholders”) with a relatively attractive rate of return on their investment through regular and steady distributions, and to achieve long-term stability in Distribution per Unit (“DPU”) and Net Asset Value (“NAV”) per Unit, while maintaining an appropriate capital structure for MPACT.

2022 FY Financial results:



MPACT Achieves 65.4% and 62.6% Growth in FY22/23 Gross Revenue and Net Property Income

Full-year distribution per unit (“DPU”) totalled 9.61 Singapore cents.

Boosted by contribution from properties acquired through the merger1.

Better performance of core assets, VivoCity and Mapletree Business City (“MBC”), cushioned higher utility and finance costs in FY22/23. 

Positive rental reversion recorded by all markets except Greater China.

VivoCity’s full-year tenant sales set new record at over S$1 billion, and asset enhancement initiative (“AEI”) on Level 1 on track for opening from end-May 2023.

Improvement in shopper traffic and tenant sales at Festival Walk with the lifting of COVID measures and reopening of border with Mainland China.

Successfully renewed major leases at Bank of America HarbourFront, Festival Walk, Gateway Plaza and MBC during the year, adding to portfolio resilience.




Sunday, January 28, 2024

CapLand Ascott - 2nd Half 2023 results is out! Gross Revenue is up 12 percent to 397.6m and distribution income is up 24 percent to 140.8m, dpu of 3.095 cents, fantastic! I think is a very good sets of financial numbers!

 

CapLand Ascott  - 2nd Half 2023 results is out! Gross Revenue is up 12 percent to 397.6m and distribution income is up 24 percent to 140.8m, dpu of 3.095 cents, fantastic! I think is a very good sets of financial numbers! 







XD 5th February.  Pay date 29th February. 

Huat ah! Pls dyodd. 

CapLand Ascott  - I think boat is back! At 94.5 cents, Yield is about 5.6% estimating yearly dividend of 5.3 cents! Do take Note!



She is due to report her FY Financial results on 29th Jan, Dividend is coming! Nice.

I think can wait for 92 to 92.5 cents support level for me to accumulate! 

Pls dyodd.

 30th October Update:

3Q 2023 gross profit increased 13% YOY, rose to 103% of 3Q 2019 pro forma gross profit




— Increase in revenue mitigated higher operating and financing costs

— 3.48 cents in DPS paid for 1 Jan 2023 to 13 Aug 2023, Advanced distribution of 0.701 cents was paid for the period 1 Jul 2023 to 13 Aug 2023

— gearing 35.2% with low effective borrowing cost of 2.4%

— 83% debt on fixed rate, with 50% hedged in foreign currency


Estimating a full year dividend of 6.08 cents. 

At 92 cents, yield is about 6.6% plus the Gearing is low I think the company would be able to weather through this high interest rates environment! 


I think current price seem a good yield level. 


Not a call to buy or sell. 


Indeed,  she has gone down to test 0.88.



I think likely to see a rebound from here!

nAV 1.138.

Yearly dividend of about 5.3 cents. 

Gearing 39%.

I think gd price is back! 

Pls dyodd. 


Chart wise,  bearish mode!



The recent PO price of 1.025 is trading a great discount to the current price of 0.915! 

Those took up the PO is having paper loss.

But on the other hand, I think gd price is back! 

NAV is about 1.138.

Yearly dividend is about 5.3 cents.

I think Gearing is below 40%.

Immediate support is at 0.915.

Next support is at about 0.88.

Not a call to buy or sell!

Please dyodd.

Venture - She is gaining momentum and likely rise up to test 15.25! AGM is on 26th April, final dividend is coming! Yield is more than 5 percent for this blue chips counter, nice!

Venture  - She is gaining momentum and likely rise up to test 15.25! AGM is on 26th April, final dividend is coming! Yield is more than 5 pe...