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Asia Pacific Strategy - Equity correction still in progress

Shared By Stock Fanatic on Wednesday, April 25, 2018 | 25.4.18

■ S&P 500’s and MSCI Asia ex-Japan’s wave “a-b-c” are still ongoing from Jan high.

■ However, over the past few weeks, we also see a potential triangle formation for both the S&P 500 and MSCI Asia ex Japan.

■ WTI crude oil appears to be meeting our US$71/barrel target.

■ We believe US 10-years govt. bond yields started the next up leg towards 3.2-3.3%.

■ Vietnam Stock Index holding just above support trendline at 1,080pts.

KGI Trading Ideas - Venture Corp

Venture corp had lost almost 20% of its market value over the past five days following the disappointing results of key client Philip Morris International (PMI).

Singapore Property - Zeroing in on Oxley Group

Shared By Stock Fanatic on Tuesday, April 24, 2018 | 24.4.18

■ Oxley has one of the largest residential landbanks in Singapore valued at over S$3.0bn

■ Strong pre-sales locally or overseas should translate to higher share price

■ Potential asset sales would greatly improve Oxley’s financials

Asian Healthcare Specialists Limited - IPO Factsheet

Shared By Stock Fanatic on Wednesday, April 18, 2018 | 18.4.18

Asian Healthcare Specialists, an orthopaedic healthcare specialist and provider, has a team of experienced orthopaedic specialists who provide a wide spectrum of general and subspecialised orthopaedic, trauma and sports services such as knee/hip replacements, sports medicine/surgery, spine surgery, foot/ankle surgery and minimally invasive orthopaedic procedures.

Asian Healthcare and its subsidiaries have five senior and experienced orthopaedic medical specialists operating under “The Orthopaedic Centre” brand at four clinics at convenient and accessible locations across Singapore. Each of the medical specialists are subspecialists in specific areas of orthopaedic, trauma and sports medicine, ranging from specialities in spine (neck and back), shoulder, elbow, hip, knee and foot and ankle.

The Group aims to be a one-stop integrated healthcare provider for all musculoskeletal-related medical care, including post-surgery rehabilitation services such as physiotherapy and ancillary services such as pain management.

SLB Development - IPO Factsheet

Shared By Stock Fanatic on Tuesday, April 17, 2018 | 17.4.18

SLB Development Ltd (“SLB”) is a diversified property developer across the residential, mixed-use as well as industrial and commercial sectors, and property development projects ranging from small to large scale. SLB has built strong networks of business relationships with other property developers and contractors, and has expanded its presence beyond Singapore to the PRC.

Ezion Holdings - Delayed Resurrection

Ezion’s successful restructuring puts it on the path to recovery, and could result in a multiples re-rating. However, valuations are highly dependent on conversions by shareholders and security holders. Current book value is closer to 15.1 S cents assuming 50% conversion by Series B security holders. Share price of S$0.197 is at a premium to that of peers who have significantly lower debts. Upgrade to HOLD and raise target price to S$0.18, pegged to 1.0x 2019F P/B. Entry price: S$0.151.

Kimly Ltd - Defensive Staple On Verge Of Inorganic Expansion

Shared By Stock Fanatic on Monday, April 16, 2018 | 16.4.18

Kimly operates and manages coffee shops and food courts locally, which have a defensive nature accompanied by rich cash flows. Going forward, we expect Kimly to add up to 1-2 coffee shops a year, as well as ramp up on operating third party brands, which could contribute 5-8% growth pa during FY19F-20F. In addition, with M&As in the pipeline, we believe that growth would be exciting in the coming years. As a result, we initiate coverage with a BUY with DCF-derived TP of SGD0.43 (30% upside), implying FY18F P/E of 22.8x.

Singapore Property - Physical market continues with strength; where are stocks heading?

Shared By Stock Fanatic on Friday, April 13, 2018 | 13.4.18

Tulip Garden sold for S$906.9m
Yanlord Land Group announced that a joint venture between the group and MCL Land has successfully tendered for the en-bloc sale of the freehold Tulip Garden for S$906.9m, the second-largest collective sale so far, bringing YTD collective sales done to S$6.5bn. According to Business Times, the sale price is 20% higher than the reserve price and translates to S$1,790psf per plot ratio, 5-17% higher than nearby transactions. The site could yield 670 units, up from the current 162 units. We estimate a breakeven ASP of S$2,200-2,300psf, implying a potential selling price well above S$2,500psf.
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