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EC World REIT’s 2Q and 1H FY2020 Results – A Key Summary and My Thoughts (as a Unitholder) (Guest Post)

EC World REIT’s 2Q and 1H FY2020 Results – A Key Summary and My Thoughts (as a Unitholder) (Guest Post)

Pure-play China specialised logistics and e-commerce logistics REIT EC World REIT (SGX:BWCU) released its second quarter and half-year results for the financial year 2020 ended 30 June 2020 last Friday (07 August) evening.

ec-world

This post was originally posted here. The writer, Lim Jun Yuan is a veteran community member and blogger on InvestingNote, with username known as ljunyuan and has 1241  followers.

As a unitholder of the REIT, I have studied its latest set of results in detail and in this post, you will find the most important aspects of the REIT’s results to take note of, along with my thoughts about it (for sharing purposes):

Key Financial Results (2Q FY2019 vs. 2Q FY2020, and 1H FY2019 vs. 1H FY2020)

In this section, you will find a quarter-on-quarter (q-o-q) as well as a year-on-year (y-o-y) comparison of the REIT’s financial results:

2Q FY2019 vs. 2Q FY2020:

2Q FY2019 2Q FY2020 % Variance
Gross Revenue
(S$’mil)
$23.7m $28.2m +18.8%
Property Operating
Expenses (S$’mil)
$2.6m $2.4m -8.0%
Net Property
Income (S$’mil)
$21.2m $25.8m +22.1%
Distributable Income
to Unitholders
(S$’mil)
$12.3m $11.1m -9.5%

In SGD terms, the REIT’s gross revenue and net property income went up by 18.8% and 22.1% respectively, while in RMB terms, its gross revenue and net property income saw improvements by 19.0% and 22.3% on a q-o-q basis – this is due to contributions from Fuzhou E-commerce which was acquired in August 2019, along with organic rental escalations.

Distribution to unitholders, however, fell 9.5% q-o-q due to the REIT retaining 10% of the distributable income.

1H FY2019 vs. 1H FY2020:

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SEMBCORP DEMERGER DEAL PASSED. WHAT IS TEMASEK PLAN NOW? (Guest Post)

SEMBCORP DEMERGER DEAL PASSED. WHAT IS TEMASEK PLAN NOW? (Guest Post)

In today’s Sembcorp group EGM, the Sembcorp demerger was duly passed, including the critical whitewash which Sembcorp Marine minorities have the final say. It was being approved by a resounding 88% of shareholders who participated in the voting process.

64c5a0d7199c49d115af1461699ab4dcThis post was originally posted here. The writer, Royston Tan is a veteran community member and blogger on InvestingNote, with username known as Royston_Tan.

With that, the demerger between Sembcorp Industries and Sembcorp Marine has been formalized. Sembcorp Marine will be separated from its parent Sembcorp Industries which currently holds about 61% shareholding stake of the former.

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Key Summary from UOB’s 2Q and 1H FY2020 Results (Guest Post)

Key Summary from UOB’s 2Q and 1H FY2020 Results (Guest Post)

Along with DBS Group Holdings, United Overseas Bank (SGX:U11) also released its results for the second quarter and first half of the financial year 2020 ended 30 June 2020 yesterday morning before trading hours.

7 more UOB branches in shopping malls and retail areas to reopen ...

This post was originally posted here. The writer, Lim Jun Yuan is a veteran community member and blogger on InvestingNote, with username known as ljunyuan and has 1241  followers.

As a shareholder of the Singapore bank, I have studied its latest update in detail and in today’s post, I will be sharing with you the most important aspects to take note of, my personal thoughts (about the bank’s latest results), along with important information about the bank’s dividends (both cash and scrip) to take note of (especially if you are a shareholder of the bank)…

Key Financial Results (2Q FY2019 vs. 2Q FY2020, and 1H FY2019 vs. 1H FY2020)

In this section, we will be looking at the bank’s key financial results both on a quarter-on-quarter (q-o-q) as well as on a year-on-year (y-o-y) basis:

2Q FY2019 vs. 2Q FY2020:

2Q FY2019 2Q FY2020 % Variance
Total Income
(S$’bil)
$2.58b $2.26b -12.5%
– Net Interest
Income (S$’bil)
$1.65b $1.46b -11.5%
– Net Fee &
Commission Income
(S$’bil)
$0.53b $0.45b -15.1%
– Other Non-Interest
Income (S$’bil)
$0.40b $0.36b -10.0%
Net Profit
(S$’bil)
$1.17b $0.71b -39.7%
Net Profit
Attributable to
Shareholders (S$’bil)
$1.17b $0.70b -39.8%

At one look, you can conclude that on a q-o-q basis, it was a weaker one for the bank.

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3 Little-Known Companies With Significant Share Buyback (Guest Post)

3 Little-Known Companies With Significant Share Buyback (Guest Post)

There was a revival in stock prices since the global collapse in prices during March. However, the recovery in stock prices were not even. Some industries such as Technology recovered faster than other traditional sectors such as engineering.

As a result, some companies took the opportunity to employ share buybacks. Share buybacks are usually administered as the companies feel that the stock prices are undervalued. The management of the companies usually have a better understanding of the finances and future results. Buybacks could be regarded as a confidence booster to the company’s future results.

We have scouted the SGX market and have identified 3 companies for your considerations.

#1 Singapore Shipping Corporation Ltd

This post was originally posted here. The writer, James Yeo is a veteran community member and blogger on InvestingNote, with username known as Smallcapasia and has 864 followers.

Singapore Shipping Corporation Limited (SSC) is well-established shipping group in Asia and listed on the main board of SGX. Its businesses include ship owning, ship management, shipping agency & Terminal Operations, and Logistics Services. SSC owns 6 vessels and charters it for the international market.

As of the latest annual report, SSC’s revenue decreased by 3.1% to USD 46.7 million. Its net profit decreased slightly by 10.9% to USD 9.2 million. Free cash flow came in at a healthy level of USD 11.4 million. As a result, cash balance of the company was at a high of USD 30.5 million. Results were slightly weaker due to the slightly weaker shipping market at the end of 2019.

SSC has been purchasing its shares back since 6th July 2020. In total it purchased 249,000 shares from the market. Total transactional value of all the shares amounted to $68,598 and share prices bought back were in the range of $0.25-0.26.

SSC last closed at $0.26, which values it at a P/E ratio of 8.46 and dividend yield of 3.85%.

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My Technical Analysis of the 4 Mapletree REITs (03 August 2020) (Guest Post)

My Technical Analysis of the 4 Mapletree REITs (03 August 2020) (Guest Post)

Today, I’d like to share my personal technical analysis on the four Mapletree REITs – namely Mapletree Commercial Trust (SGX:N2IU), Mapletree Industrial Trust (SGX:ME8U), Mapletree Logistics Trust (SGX:M44U), and Mapletree North Asia Commercial Trust (SGX:RW0U) – particularly, how their unit prices are likely to move in the near-term (based on a daily timeframe.)

image-107-min

This post was originally posted here. The writer, Lim Jun Yuan is a veteran community member and blogger on InvestingNote, with username known as ljunyuan and has 1241  followers.

$Mapletree Log Tr(M44U.SI)
$Mapletree NAC Tr(RW0U.SI)
$Mapletree Ind Tr(ME8U.SI)
$Mapletree Com Tr(N2IU.SI)

First and foremost, a very good Monday morning to you. We’re into the first working day of yet another new month. Hope you’ve had a great long weekend with your loved ones.

Before I begin, a disclaimer – whatever you may read in this post is purely for educational purposes only. They do not represent any buy or sell recommendation for any of the REITs. Please do your own due diligence before you make any investing/trading decisions.

With that out of the way, let’s begin…

Mapletree Commercial Trust (SGX:N2IU)

This blue chip REIT has a total of 6 properties in its portfolio, all located in Singapore – VivoCity, Mapletree Business City I and II, PSA Building, Mapletree Anson, as well as Merrill Lynch Harbourfront.

The following is the unit price movement of Mapletree Commercial Trust (on a daily timeframe) since April 2020:
Daily Unit Price Movement of Mapletree Commercial Trust (SGX:N2IU) since early-April 2020

As you can see from the above, since bottoming at S$1.46 in early-April, its unit price have recovered and moved along the green uptrend channel, where it peaked at S$2.23 in early-June before retreating.

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Key Updates in Mapletree Commercial Trust’s Q1 FY2020/21 Business Update (Guest Post)

Key Updates in Mapletree Commercial Trust’s Q1 FY2020/21 Business Update (Guest Post)

After trading hours last Thursday (23 July), blue chip REIT Mapletree Commercial Trust (SGX:N2IU) released its business updates for the first quarter of the financial year 2020/21 ended 30 June 2020.

Mapletree Commercial Trust to buy Pasir Panjang business park for ... This post was originally posted here. The writer, Lim Jun Yuan is a veteran community member and blogger on InvestingNote, with username known as ljunyuan and has 1241  followers.

As the REIT switched to a half-yearly reporting from this financial year onwards, for the first and third quarter, it will only be posting a business update. Also, the REIT will be paying out a distribution to unitholders on a half-yearly basis (instead of on a quarterly basis in the past.)

With that, I will be highlighting some of the key pointers in the REIT’s latest business update to take note of (along with my thoughts to share):

Financial Performance (Q1 FY2019/20 vs. Q1 FY2020/21)

Q1 FY2019/20 Q1 FY2020/21 % Variance
Gross Revenue
(S$’mil)
$112.1m $100.3m -10.5%
Property Operating
Expenses (S$’mil)
$23.8m $21.5m -9.7%
Net Property
Income (S$’mil)
$88.3m $78.9m -10.7%

On one look, it was a weaker set of results for the REIT, which Chief Executive Officer Ms Sharon Lim attributed it to the 8-week circuit breaker, and the continued closure of most businesses during the first phase of Singapore’s re-opening from 02 to 18 June 2020.

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Key Summary of Mapletree Commercial Trust’s 9th AGM for FY2019/20 Held on 22 July 2020 (GuestPost)

Key Summary of Mapletree Commercial Trust’s 9th AGM for FY2019/20 Held on 22 July 2020 (GuestPost)

Retail and office REIT Mapletree Commercial Trust (SGX:N2IU) held its 9th annual general meeting for the financial year 2019/20 ended 31 March 2020 via virtual means this afternoon, which I have attended as a unitholder.

Mapletree - VivoCity

This post was originally posted here. The writer, Lim Jun Yuan is a veteran community member and blogger on InvestingNote, with username known as ljunyuan and has 1241  followers.

It was a short-and-sweet meeting, lasting just slightly over 30 minutes. For the benefit of those who weren’t able to attend, you’ll find a summary of the presentation by Ms Janica Teo (Chief Financial Officer), and Ms Sharon Lim (Chief Executive Officer) which I’ve compiled in this post:

Financial Results (FY2018/19 vs. FY2019/20)

  • Gross Revenue: Up 8.8% to S$482.8m (FY2018/19: S$443.9m)
  • Property Operating Expenses: Up 9.0% to S$104.9m (FY2018/19: S$96.3m)
  • Net Property Income: Up 8.7% to S$377.9m (FY2018/19: S$347.6m), contributed by MBC II, which was acquired on 01 November 2019
  • Distribution to Unitholders: Down 7.9% to S$243.2m (FY2018/19: S$264.0m), due to the REIT retaining S$43.7m of distribution in the fourth quarter to better position themselves to deal with uncertainties relating to Covid-19
  • Distribution Per Unit: Down 12.5% to 8.00 cents/unit (FY2018/19: 9.14 cents/unit)

Debt Profile (FY2018/19 vs. FY2019/20)

  • Gearing Ratio: 33.3% (FY2018/19: 33.1%)
  • Interest Coverage Ratio: 4.3x (FY2018/19: 4.5x)

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Key Summary (and My Thoughts) on CapitaLand Mall Trust’s Q2 FY2020 Results (Guest Post)

Key Summary (and My Thoughts) on CapitaLand Mall Trust’s Q2 FY2020 Results (Guest Post)

Retail REIT CapitaLand Mall Trust (SGX:C38U) released its second quarter results for FY2020 ended 30 June 2020 this morning before trading hours.

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This post was originally posted here. The writer, Lim Jun Yuan is a veteran community member and blogger on InvestingNote, with username known as ljunyuan and has 1241  followers.

As the period of review (between 01 April and 30 June 2020) encompasses the 2-month circuit breaker period (between 07 April and 01 June 2020) implemented by the Singapore government to contain the spread of Covid-19 in the community, where a huge majority of retail shops were temporarily closed, and with retail rebates handed out by the REIT, as an investor of the retail REIT, I am mentally prepared for a significantly weaker set of second quarter and 1H results (compared to the same period last year.)

In this post, you will find key highlights you need to take note of (as a unitholder), along with my thoughts about the REIT’s latest set of results to share:

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Summary of Mapletree North Asia Commercial Trust’s 7th AGM on 16 July 2020 (Guest Post)

Summary of Mapletree North Asia Commercial Trust’s 7th AGM on 16 July 2020 (Guest Post)

Retail and office REIT Mapletree North Asia Commercial Trust (SGX:RW0U) held its 7th annual general meeting for the financial year 2018/19 ended 31 March 2020 via virtual means (due to the ongoing Covid-19 situation in Singapore) earlier this afternoon (16 July 2020), which I have attended as a unitholder.

85ef91ee-2849-472a-bb6a-c5ebbee1ae68

This post was originally posted here. The writer, Lim Jun Yuan is a veteran community member and blogger on InvestingNote, with username known as ljunyuan and has 1241  followers.

For the benefit of those who were not able to attend the meeting, in this post you’ll find a summary of the most important pointers to take note of (as a unitholder):

Presentation on Key Performance Statistics for FY2019/20 by Mr Ng Wah Keong, Chief Financial Officer of Mapletree North Asia Commercial Trust

Financial Performance (FY2018/19 vs. FY2019/20):

  • Gross Revenue: Down 13.3% year-on-year (y-o-y) to S$354.5m (FY2018/19: S$408.7m) – the decrease was due to the temporary closure of Festival Walk (for repair works), lower occupancy in Gateway Plaza, offset by its Japan properties
  • Net Property Income: Down 15.7% y-o-y to S$277.5m (FY2018/19: S$329.0m) – Festival Walk contributed 53.7%, Gateway Plaza contributed 23.5%, Sandhill Plaza contributed 8.4%, and its Japan Properties contributed 14.4% (this includes the one month contribution from MBP and Omori, both properties acquired in February 2020)
  • Distributable Income to Unitholders: Down 5.3% y-o-y to S$227.9m (FY2018/19: S$240.7m)
  • Distribution Per Unit: Down 7.4% to 7.124 cents/unit (FY2018/19: 7.690 cents/unit) – Mr Ng informed that the REIT will be changing its distribution to unitholders from quarterly to semi-annual from FY2020/21 onwards

Capital Management (FY2018/19 vs. FY2019/20):

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Sri Trang Agro (SGX:NC2) – My Technical Analysis (13 July 2020) (Guest Post)

Sri Trang Agro (SGX:NC2) – My Technical Analysis (13 July 2020) (Guest Post)

One of the most hotly traded Singapore-listed companies of late is Sri Trang Agro-Industry Public Company Limited (SGX:NC2), due to the overwhelming demand for rubber gloves in light of the Covid-19 pandemic, where its subsidiary, Sri Trang Gloves (Thailand) Ltd, is the largest glove producer in Thailand and is ranked among the world’s leading glove producers.

This post was originally posted here. The writer, Lim Jun Yuan is a veteran community member and blogger on InvestingNote, with username known as ljunyuan and has 1241  followers.

Disclaimer: Whatever you may read in this post is my sharing for educational purposes only. It does not represent any buy/sell recommendation for the company’s shares. Also, at the time of writing, I am not trading in the shares of Sri Trang Agro.

So, how is the company’s share price going to move in the near-term? In this post, I’ll be sharing with you my technical analysis of the company’s share price movement (on a daily timeframe), which I hope you’ll find useful.

Sri Trang Agro’s Share Price Movements since January 2011

First up, let us look at the company’s share price movements (on a daily timeframe) since January 2011:
Share Price Movements of Sri Trang Agro since January 2011 till Time of Writing (on a Daily Timeframe)

The company’s share price slipped from a high of $1.27 in January 2011 to a low of S$0.40 in April 2016 – a fall by 68.5% over 5 years. Its share price then started to recover thereafter to S$1.00 in January 2017, before dropped back down to S$0.40 in April 2020 before skyrocketing to a high of S$1.75 in July 2020.

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