Since 4 Oct 2022, SGX has fallen for 12 consecutive sessions, logging its longest losing streak since IPO in 2000! Over the past 12 sessions, SGX has lost a total of 12.5%, or $1.19 to close at $8.33 on 20 Oct 2022. It is noteworthy that STI has only fallen 3.7% over the same period. In addition, SGX’s RSI closed 13.3, the lowest since 2008!
This post was originally posted here. The writer, Ernest Lim is a veteran community member and blogger on InvestingNote, with a username known as @el15 and has close to 600 followers.
Some noteworthy points below
a) Average analyst target: $10.08
Based on Bloomberg (see Fig 1 below), average analyst target price is around $10.08. If consensus is right and assuming that analysts do not change their target prices, SGX offers a potential capital upside of around 21%. Coupled with an estimated dividend yield of around 3.9%, total potential return is around 25%.
For the eagle eye readers, you will have noticed that since 10 Oct, there have been mixed analyst calls. To some extent, the recent decline can be attributed to the recent sell calls on SGX with target prices ranging from $8.00 – 9.25.
Figure 1: Bloomberg compilation of analyst target prices for SGX
DBS Group Holdings (SGX:D05) is the first of the three Singapore-listed banks to release its results for the fourth quarter, as well as for the financial year 2020 ended 31 December 2020 early this morning (10 February 2021) – the other two banks will be releasing its results on the final week of February (OCBC on 24th February, and UOB on 25 February – both before market hours.)
In my post today, let us take an in-depth look into DBS’ latest ‘report card’ – particularly its key financial results, key financial ratios, as well as its dividend payouts to shareholders, along with my personal opinions as a shareholder of Singapore’s biggest bank to share.
This post was originally posted here. The writer, Lim Jun Yuan is a veteran community member and blogger on InvestingNote, with a username known as @ljunyuan and has close to 2,000 followers.
Key Financial Results (Q4 FY2019 vs. Q4 FY2020, and FY2019 vs. FY2020)
In this section, you will find the bank’s results on a quarter-on-quarter (q-o-q) basis (i.e. Q4 FY2019 vs. Q4 FY2020), as well as on a year-on-year (y-o-y) basis (i.e. FY2019 vs. FY2020):
Q4 FY2019 vs. Q4 FY2020:
– Net Interest
– Net Fee & Commission
– Other Non-Interest
Total income (which consisted of 3 components: net interest income, net fee and commission income, as well as other non-interest income) fell 5.7% on a q-o-q basis to S$3,263m, as a decline in its net interest income (due to a 37 basis point q-o-q drop in its net interest margin to 1.49%), cushioned by an increase in its net fee and commission income (attributed by an improvement in its wealth management fees), as well as in its other non-interest income (as a result of an increase in its trading income.) …
Blue chip logistics REIT Mapletree Logistics Trust (SGX:M44U) held its extraordinary general meeting (EGM) yesterday afternoon to seek unitholders’ approval on the proposed acquisition of 22 properties in China, along with 1 property in Malaysia as well as in Vietnam. Approval was also sought for its proposed issue of new units of the REIT as partial consideration for its China acquisitions, and also for the proposed whitewash resolution.
This post was originally posted here. The writer, Lim Jun Yuan is a veteran community member and blogger on InvestingNote, with a username known as @ljunyuan and has 1442 followers.
Due to the safe distancing measures imposed by the Singapore government (due to the ongoing Covid-19 pandemic), the EGM was held in a hybrid mode – both online as well as offline (limited spaces available.) I have opted to attend the online version of the meeting as a unitholder and in this post, you’ll find a key summary of it, which I’ve compiled for the benefit of those who weren’t able to attend…
Presentation by Chief Executive Officer, Ms Ng Kiat
The following are details of the acquisition:
Acquisition of the remaining 50.0% stake in 15 warehouses in China, a 100.0% stake in 7 warehouses in China, 1 warehouse in Malaysia and also in Vietnam
Aggregate Agreed Property Value: S$1,509.2 million
Implied Net Property Income yield: ~5.2%
Net Lettable Area: 1,223,660 sqm
Committed occupancy rate: 94.7%
Weighted average lease expiry: 2.3 years
CEO of Mapletree Logistics Trust, Ms Ng Kiat, shared that the logistics industry have benefited from the ongoing Covid-19 pandemic, where demand for Grade A warehouse space have increased as a result of an increase in adoption of e-commerce.
She explained that 3 geographical locations which the REIT will be acquiring properties in (China, Malaysia, and Vietnam) have seen their GDPs staying resilient despite the pandemic. Also, these countries are also projected to see a strong growth in their urban population in the years ahead (which will lead to an increase in demand for modern logistics space.) Coupled with the limited supply of Grade A warehouse space in the 3 countries, Ms Ng added that represents an opportunity for the REIT, being a leading provider of quality logistics space in Asia-Pacific, to come in and fill the market gap.
On top of that, Ms Ng also shared that the warehouses’ locations are strategically located near local consumption hubs in under an hour, which is an important consideration for tenants in e-commerce businesses. Not just that, post-acquisition, the REIT will see new top 10 tenants (by percentage of gross revenue) in JD.com… (which will contribute 2.4%) and Cainiao (which will contribute 2.1%.)
Microsoft’s results seem good despite the pandemic.
This post was originally posted here. The writer, Kyith Ng is a veteran community member and blogger on InvestingNote, with a username known as @kyith and has 1097 followers.
US tech giant Microsoft announced their Q1 2021 results yesterday morning.
They achieve per-share profit growth of $1.82, beating analysts’ expectations of $1.54 a share.
The after-market share performance was muted. In fact, it’s nearly 1.5% lower. But due to the broad market fall this morning (28th Oct) the stock is down almost 5% to $203.
It has been consistently drilled into my head at work that the market is forward-looking in theory. And in a few practical cases, it is the case. After-market movements reflect the general crowd’s sentiments towards their expectations of future cash flows.
Microsoft’s results were not too bad in Q1 2021.
Revenue was $37.2 billion and increased 12%
Operating income was $15.9 billion and increased 25%
Net income was $13.9 billion and increased 30%
Diluted earnings per share was $1.82 and increased 32%
US Election is once every 4 years, but how does it impact the markets?
This post was originally posted here. The contributor to this article,@Denise is one of our many community members on InvestingNote.
update: Joe Biden wins the Presidency with 290 seats🎊
In the meanwhile, it could still be a period of volatility as the markets wait for a smooth transition (if there even is). So even though it seems like the President of the US has alr been highly-likely decided, it should be noted that there are still various ways the US Election can be contested.
Nevertheless, here are some macroeconomics principles that you’d be keen to know of:
[After all, this won’t be the last Presidential Election because there will always be another one every 4 years. Hence, the same factors would still apply.]
Just a quick backdrop:
On August 31st, 1957, diplomatic relations between Malaysia and the US were established when the US elevated its Consulate General in Kuala Lumpur to the status of the Embassy.
What are the key highlights of UOB’s latest results?
This post was originally posted here. The writer, Lim Jun Yuan is a veteran community member and blogger on InvestingNote, with a username known as @ljunyuan and has 1433 followers.
United Overseas Bank (SGX:U11), or UOB, is the first of the three Singapore banks that have released its business updates for the third quarter and for the first 9 months of the financial year 2020 ended 30 September 2020 before market hours this morning (in case you’re wondering, the other 2 Singapore banks, DBS and OCBC, will be releasing its business updates for Q3 and 9M FY2020 tomorrow, 05 November 2020, before market hours.)
In my post today, I will be sharing with you key highlights from UOB’s latest business update you need to take note of…
Financial Performance (Q3 FY2019 vs. Q3 FY2020, and 9M FY2019 vs. 9M FY2020)
As the bank has switched to reporting its full financial statements on a half-yearly basis (i.e. in the second, as well as in the fourth quarter), it has only provided a summary this quarter. …
If you have been shopping online, then the name PayPal should sound familiar to you – as some of the merchants make use of the digital payment platform to accept payments from their customers.
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 1386 followers.
Before you continue reading today’s post, a disclaimer: I am currently invested in the company I am going to talk about today – PayPal Holdings Inc. (NASDAQ:PYPL). But having said that, as always, rest assured I will be impartial in my analysis of the company.
I’m sure the name PayPal is not one that’s alien to you – especially to those of you who have shopped online before, you should have come across it when making payments, as some merchants make use of its digital payment platform to accept payments from their customers (for a small fee.)
From my understanding in its FY2019 annual report (for the financial year ended 31 December 2019), the company currently has 281 million customer active accounts and 24 million merchant active accounts across more than 200 markets worldwide. The company also owns Braintree (a company based in Chicago in the United States that specializes in mobile and web payment systems for e-commerce companies, which was acquired by PayPal in September 2013), Venmo (a mobile payment service that allows for the transfer of funds between its app users), and Xoom (a platform that facilitates the sending of money, paying of bills, and reloading of mobile phones from the United States and Canada to 131 countries worldwide; the company was acquired by PayPal in November 2015.)
Among the various means that PayPal Holdings Inc. generates its revenue from include: …
Whenever I shortlist for a list of companies to invest in, one of my many criteria is that the company must have a simple-to-understand business.
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.
One of the companies under my investment radar is social media conglomerate Facebook Inc. (NASDAQ:FB), which is listed in the United States.
Unless you have been living under a rock all these while, you should know its business – chief of which is its namesake social networking site (many of you should have a personal Facebook account which you use to keep in touch with your loved ones.)
Apart from Facebook, the conglomerate also owns Instagram, Messenger, as well as WhatsApp – all of them you should be familiar with as well, so I shall not further elaborate. Another business which it owns which you may not be familiar with is a company by the name of Oculus (https://www.oculus.com), which produces virtual reality products (the company was acquired by Facebook Inc. in March 2014.)
In terms of revenue, it comes from selling ad placements (on Facebook, Instagram, Messenger, and other third-party applications and websites) to marketers (where they have the option of selecting their target audiences based on a variety of factors including age, gender, location, interests, and behaviours.) …