Apr[4] - Others Review

Last quarter, Capitaland registered strong earning results, mainly due to higher handover development in China. On Mid March, China announced new round of cooling measures on property prices in selected cities. The impact remains to be seen on following results announcement. Price has been rally since early the year. 3.75 (7% discount from book value) seems to be ceiling meantime. Market could be expecting further loosening on local property cooling measures as well.

In February, Changi Airport's flight handled fell 1.7% year on year, the first decline in 23 months. It gave some pressure to ground handlers, SATS. Price fell down from all time high, 5.36. Immediate support is ~ 4.71 (dividend yield ~ 3.2%). Last three months saw the group raising stakes on Malaysia catering company as well extending partnerships with Hong Kong Airlines in Hong Kong Hub. On coming results announcement, it shall also declare dividend for 2H2016.

Following bullish performance of local index since early the year, SGX back to investor's favor again. 2017 peak, 7.8 translates to dividend yield ~ 3.6%. So far, it has clinched 11 new IPOs, more than double the 5 in FY2016. With strong cash on hand, market speculates potential merging & acquisition from the group.