Saturday, March 18, 2017
Chart[41] - Starhill Global REIT
The first chart (daily) shows strong buying volume for the counter on
last trading day. Price rebounded from support ~ 0.73. Zooming into
second chart (10min), volume surged to 11m only on last ten minute.
Shall buying interest continue, price could bounce to the ceiling ~
0.775. The counter has been range bouncing for past four months.
Friday, March 17, 2017
Mar[6] - Market Updates
Singapore:
Rising interest rate and weakening oil price couldn't halt STI from hitting its one year peak. It has broken resistance 3155, and heading towards next ~3241. Coming week focus shall fall to Telco as 3 major shareholders indicated potential stake sales on M1. It could lend some support to recent rising momentum of STI.
Market Calendar on coming week:
(SG: Singapore; CH: China; UK: United Kingdom; US: USA; JP: Japan)
Rising interest rate and weakening oil price couldn't halt STI from hitting its one year peak. It has broken resistance 3155, and heading towards next ~3241. Coming week focus shall fall to Telco as 3 major shareholders indicated potential stake sales on M1. It could lend some support to recent rising momentum of STI.
Market Calendar on coming week:
(SG: Singapore; CH: China; UK: United Kingdom; US: USA; JP: Japan)
Mar[5] - Keppel T&T (Loaded with War Chest)
COUNTER: KEPPEL TELECOMMUNICATION & TRANSPORTATION LTD
OVERVIEW:
The subsidiary of Keppel Corp, is a leading service provider in Southeast Asia and Europe with businesses in logistics and data center. In logistics, it offer one-stop, integrated solutions to help clients manage their entire supply chain. It owns and operates data centers across Asia Pacific and Europe, providing dedicated co-location suits with technical support.
HIGHLIGHTS:
[1] Latest quarter saw revenue down 5.5% year on year. Operating profit down > 90% because of lower fair value gain on investment properties and higher overheads. Full year operating profit was higher by $26m, mainly due to gain on disposal of subsidiary.
[2] For FY2016, logistics division reported net loss $17m due to impairment loss on fixed assets. It shall be $9.6m excluding the impairment loss. Lower earning was due to lower contribution from China operation. Data Centre division saw operating profit up $56m, attributed to higher revenue as well as disposal gain.
[3] Gearing ~ 60%. 25% of borrowing to be settled in following year.
INVESTMENT THEMES:
[1] FY2016 earning per shares - 0.189 || Dividend per shares ~ 0.045
Last trading price, 1.705 translates to undemanding PE ~ 9 and dividend 2.6%. FY2015 dividend was 0.03.
[2] New acquisition of Courex allows the group to establish foothold in e-commerce logistics sector. Newly acquired Tier III data centre in Frankfurt, where is home to one of the world's largest internet exchanges shall contribute earning on FY2017.
[3] Impairment loss and lower valuation gain mainly incurred on last quarter due to startup cost and property assets transition losses. Investor could look forward some turnaround on following quarters.
[4] The group just announced sales of 10% interest in Asia Airfreight Terminal Company for $45.2m. At the same time, it is considering sales of its shares from M1. Such divestment from non-core business allow the group to re-invest into its core businesses. Shall it come true, it will be loading heavy war chest for future growth opportunities, such as buying more high quality data centres.
PRICE TREND:
The counter saw significant buying volume on last trading day. Price nicely rebounded from support 1.61. Immediate resistance is 1.77. Shall buying momentum continue, one year high 1.9 could be targeted.
*** Note: Same counter has been mentioned in Oct[6] 2015 ***
OVERVIEW:
The subsidiary of Keppel Corp, is a leading service provider in Southeast Asia and Europe with businesses in logistics and data center. In logistics, it offer one-stop, integrated solutions to help clients manage their entire supply chain. It owns and operates data centers across Asia Pacific and Europe, providing dedicated co-location suits with technical support.
HIGHLIGHTS:
[1] Latest quarter saw revenue down 5.5% year on year. Operating profit down > 90% because of lower fair value gain on investment properties and higher overheads. Full year operating profit was higher by $26m, mainly due to gain on disposal of subsidiary.
[2] For FY2016, logistics division reported net loss $17m due to impairment loss on fixed assets. It shall be $9.6m excluding the impairment loss. Lower earning was due to lower contribution from China operation. Data Centre division saw operating profit up $56m, attributed to higher revenue as well as disposal gain.
[3] Gearing ~ 60%. 25% of borrowing to be settled in following year.
INVESTMENT THEMES:
[1] FY2016 earning per shares - 0.189 || Dividend per shares ~ 0.045
Last trading price, 1.705 translates to undemanding PE ~ 9 and dividend 2.6%. FY2015 dividend was 0.03.
[2] New acquisition of Courex allows the group to establish foothold in e-commerce logistics sector. Newly acquired Tier III data centre in Frankfurt, where is home to one of the world's largest internet exchanges shall contribute earning on FY2017.
[3] Impairment loss and lower valuation gain mainly incurred on last quarter due to startup cost and property assets transition losses. Investor could look forward some turnaround on following quarters.
[4] The group just announced sales of 10% interest in Asia Airfreight Terminal Company for $45.2m. At the same time, it is considering sales of its shares from M1. Such divestment from non-core business allow the group to re-invest into its core businesses. Shall it come true, it will be loading heavy war chest for future growth opportunities, such as buying more high quality data centres.
PRICE TREND:
The counter saw significant buying volume on last trading day. Price nicely rebounded from support 1.61. Immediate resistance is 1.77. Shall buying momentum continue, one year high 1.9 could be targeted.
Friday, March 10, 2017
Mar[4] - Market Updates
Crude Oil:
Crude oil fell close to 10% last three trading days. Bearish trend formed due to non-conclusive meeting between OPEC and US shale companies as well as up rising crude inventory in US. Few supports to be tested next week, USD48 & USD47. Buying opportunity could present for oil related companies, shall the downtrend persists.
US 10 Years Treasuries Notes:
US FOMC will be held on next Wednesday, so latest decision on interest rate will be known on Thursday. US bond market has been positioning for new rate hike as the bond yield hit the ceiling on last Dec when Yellen announced 0.25% increase. Unlike mid 2016 when rate hike worries easily induced chaotic trading condition in stock market, market seems to be living well with it meantime. Anyway, since the meeting coincides with crude oil inventory release date (highly anticipated to be another surplus record) next week, investor shall be aware of potential volatility incurred. Opportunity might be presenting instead of risk.
Market Calendar on coming week:
(SG: Singapore; CH: China; UK: United Kingdom; US: USA; JP: Japan)
Crude oil fell close to 10% last three trading days. Bearish trend formed due to non-conclusive meeting between OPEC and US shale companies as well as up rising crude inventory in US. Few supports to be tested next week, USD48 & USD47. Buying opportunity could present for oil related companies, shall the downtrend persists.
US 10 Years Treasuries Notes:
US FOMC will be held on next Wednesday, so latest decision on interest rate will be known on Thursday. US bond market has been positioning for new rate hike as the bond yield hit the ceiling on last Dec when Yellen announced 0.25% increase. Unlike mid 2016 when rate hike worries easily induced chaotic trading condition in stock market, market seems to be living well with it meantime. Anyway, since the meeting coincides with crude oil inventory release date (highly anticipated to be another surplus record) next week, investor shall be aware of potential volatility incurred. Opportunity might be presenting instead of risk.
Market Calendar on coming week:
(SG: Singapore; CH: China; UK: United Kingdom; US: USA; JP: Japan)
Mar[3] - China Aviation (proxy to One Belt One Road)
COUNTER: CHINA AVIATION OIL (SINGAPORE)
OVERVIEW:
Incorporated in Singapore on 1993, the principal activities of the group are jet fuel supply and trading. It is the largest physical jet fuel trader in the Asia Pacific region and the sole supplier of imported jet fuel to the civil aviation industry of People's Republic of China, including Beijing Capital International Airport, Shanghai Pudong International Airport and Guangzhou Baiyun International Airport. Besides these, it also markets and supplies aviation fuel to international airports out of China, such as Amsterdam, Frankfurt, Los Angeles, Dubai, Istanbul, etc.
The parent companies (51% shareholders), China National Aviation Fuel Group Corporation is the largest aviation transportation logistics provider in China. BP investments Asia (subsidiary of oil major, BP) holds 20% shares into the group.
HIGHLIGHTS:
[1] Latest quarter saw revenue and profit up 65% and 57% year on year., due to higher supply and trading volume of middle distillates and oil products. Full year profit jump 45%. Contribution from associates also jump > 50%.
[2] Its earning contribution from overseas market almost double over past six years.
[3] It has negligible borrowing. Gearing is low ~ 12%.
INVESTMENT THEMES:
[1] FY2017 earning per shares - USD0.103 || Dividend per shares ~ 0.045
Last trading price, 1.48 translates to undemanding valuation with PE ~ 10, dividend yield 3%.
[2] The group shall be benefited from the robust growth in China's aviation industry, especially in line with China's "One Belt, One Road" initiative. Based on Civil Aviation Administration of China's statistics, China aviation industry looks set to sustain 10% annual growth rate to 2020.
PRICE TREND:
The counter has been range bouncing between 1.32 to 1.55 for past 10 months. Recent sliding in price present chances for accumulation, considering cum-dividend (50% increase than last year) is around the corner.
OVERVIEW:
Incorporated in Singapore on 1993, the principal activities of the group are jet fuel supply and trading. It is the largest physical jet fuel trader in the Asia Pacific region and the sole supplier of imported jet fuel to the civil aviation industry of People's Republic of China, including Beijing Capital International Airport, Shanghai Pudong International Airport and Guangzhou Baiyun International Airport. Besides these, it also markets and supplies aviation fuel to international airports out of China, such as Amsterdam, Frankfurt, Los Angeles, Dubai, Istanbul, etc.
HIGHLIGHTS:
[1] Latest quarter saw revenue and profit up 65% and 57% year on year., due to higher supply and trading volume of middle distillates and oil products. Full year profit jump 45%. Contribution from associates also jump > 50%.
[2] Its earning contribution from overseas market almost double over past six years.
[3] It has negligible borrowing. Gearing is low ~ 12%.
INVESTMENT THEMES:
[1] FY2017 earning per shares - USD0.103 || Dividend per shares ~ 0.045
Last trading price, 1.48 translates to undemanding valuation with PE ~ 10, dividend yield 3%.
[2] The group shall be benefited from the robust growth in China's aviation industry, especially in line with China's "One Belt, One Road" initiative. Based on Civil Aviation Administration of China's statistics, China aviation industry looks set to sustain 10% annual growth rate to 2020.
PRICE TREND:
The counter has been range bouncing between 1.32 to 1.55 for past 10 months. Recent sliding in price present chances for accumulation, considering cum-dividend (50% increase than last year) is around the corner.
Friday, March 3, 2017
Mar[2] - Market Updates
Singapore:
STI briefly touched 3150 then retreated last week. Immediate support is 3090. A side way movement is seen in forming. Two major events on March, Dutch Election (15 Mar), FOMC (14, 15 Mar).
Market Calendar on coming week:
(SG: Singapore; CH: China; UK: United Kingdom; US: USA; JP: Japan)
STI briefly touched 3150 then retreated last week. Immediate support is 3090. A side way movement is seen in forming. Two major events on March, Dutch Election (15 Mar), FOMC (14, 15 Mar).
Market Calendar on coming week:
(SG: Singapore; CH: China; UK: United Kingdom; US: USA; JP: Japan)
Mar[1] - Financial Highlights
The following counters released respective latest financial results last week. A summary is provided. United Global, Zhongmin BaiHui, United Engineer, Noble, Mermaid Maritime, Nam Cheong, China JinJiang, Japfa, Centurion, Q&M, Dutech, Ying Li, Asian Pay TV Trust (APTT)
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