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A Look into DBS Group Holdings’ Q4 and FY2020 Results (Guest Post)

A Look into DBS Group Holdings’ Q4 and FY2020 Results (Guest Post)

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.

Image result for dbs

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:

Q4 FY2019 Q4 FY2020 % Variance
– Net Interest
Income (S$’mil)		 $2,426m $2,120m -12.6%
– Net Fee & Commission
Income (S$’mil)		 $741m $747m +0.8%
– Other Non-Interest
Income (S$’mil)		 $294m $396m +34.7%
Total Income
(S$’mil)		 $3,461m $3,263m -5.7%
Total Expenses
(S$’mil)		 $1,600m $1,580m -1.3%
Net Profit
(S$’mil)		 $1,508m $1,012m -32.9%

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.) …

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OCBC – Summary of Q3 and 9M FY2020 Business Update (Guest Post)

OCBC – Summary of Q3 and 9M FY2020 Business Update (Guest Post)

How is OCBC faring this third quarter? Let’s find out.

Salaries at OCBC in Singapore: what you'll really get paid | eFinancialCareers

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.

Besides DBS (you can check out my summary of its latest Q3 and 9M FY2020 results here), Overseas-Chinese Banking Corporation or OCBC (SGX:O39) also provided its business updates for the third quarter as well as for the first 9 months of the financial year 2020 (ended 30 September 2020) early this morning before trading hours.

As a shareholder of the longest established bank in Singapore, I have studied the related documents and in this post, you will find a summary of the bank’s latest financial statistics, key financial ratios, along with my personal thoughts to share.

Let’s get started…
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Key Highlights in United Overseas Bank’s (UOB) Q3 & 9M FY2020 Business Update (Guest post)

Key Highlights in United Overseas Bank’s (UOB) Q3 & 9M FY2020 Business Update (Guest post)

What are the key highlights of UOB’s latest results?

UOB launches 'high street' branch to target half a million emerging affluent customers in Singapore | IG EN
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.
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The Good and Bad about Mapletree Logistics Trusts’ Q2 and 1H FY2020/21 Results (Guest Post)

The Good and Bad about Mapletree Logistics Trusts’ Q2 and 1H FY2020/21 Results (Guest Post)

Mapletree Logistics Trust (Q2 and 1H FY2020/21 Results) – What’s good and what’s bad?

An Analysis of Mapletree Logistics Trust

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 1429 followers.

Back in September, I wrote a post about Mapletree Logistics Trust (SGX:M44U), where I highlighted reasons why the blue-chip logistics REIT was in my ‘shopping list’ (you can check out the post here.)

Last Thursday (29 October 2020), I have finally added the REIT to my long-term investment portfolio at S$1.98 – in terms of its distribution yield, based on its full-year payout of 8.142 cents/unit in FY2019/20, it is 4.1% (you can check out all the companies in my long-term portfolio investment here.)

What I’m going to do today is to discuss the REIT’s results for the second quarter and for the first half of the financial year 2020/21 ended 30 September 2020 (which was released on 19 October 2020) – particularly its financial results, debt, and portfolio occupancy profile, as well as its distribution payout (the REIT is one that continues to pay out a distribution to its unitholders on a quarterly basis), along with my personal thoughts to share.

Let’s begin… …

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Centurion Stock Review – Defensive Housing Play With Emerging Value (Guest Post)

Centurion Stock Review – Defensive Housing Play With Emerging Value (Guest Post)

With tens of thousands of COVID-19 cases coming from foreign worker dormitories, one may wonder if dormitory operator Centurion Corporation would be adversely impacted.

On that note, investors would be pretty surprised that its 1H2020 results are not affected as bad as expected. Before we dive into the results, here’s a quick background of the company for those uninitiated.

Centurion Corporation Profile

Centurion Corporation owns, develops and manages quality, purpose-built workers accommodation assets in Singapore and Malaysia, and student accommodation assets in Singapore, Australia, South Korea, the United Kingdom (“UK”) and the United States (“US”).

Sourced from Centurion’s corporate presentation

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.

The Group owns and manages a strong portfolio of 33 operational accommodation assets totalling approximately 65,133 beds as of 30 June 2020.

During the COVID-19 pandemic period, major development projects and asset enhancement works have been deferred. The Group’s portfolio of accommodation assets is expected to grow to approximately 68,733 beds, following resumption of projects when the situation has normalized. …

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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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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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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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