is there a etf for STI?
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lousy STI
- Thread starter JackyCheung
- Start date
my shares still not moving much. lousy shares.
Most of the shares are moving just a little today except for Comfort.
anybody has any view on stamford Ld? yearly dividend 3 cent.
i have quite a lot, thinking to average down.
good fixed income share.
i have quite a lot, thinking to average down.
good fixed income share.
MARKET PULSE: UOB, OSIM, Starhill REIT, DBS
31 Oct 2014
KEY IDEA
UOB: 3Q exceeded expectations
UOB’s 3Q14 net earnings of S$866m came in higher than Bloomberg’s poll of S$736m. Better Fee and Other Incomes were partly mitigated by higher impairment charges. Overall group NPL has stabilized at 1.2%. Net Interest Margin (NIM) is likely to hold steady at 1.71%. Management is cautiously optimistic about its prospects, in particular on wealth management and fee income, while mindful of the slowdown in China and the rest of Asia. Taking into account the softer global outlook, we have revised our earnings projections and valuations, and lowering our fair value estimate for UOB from S$25.00 to S$24.20. With a dividend yield of 3.3% and medium term potential total return of 11%, we are retaining our BUY rating.
MORE REPORTS
OSIM International: Painful quarter; challenges ahead
OSIM International Ltd (OSIM) announced a set of disappointing 3Q14 results which fell short of ours and the street’s expectations. Revenue grew 3.4% YoY to S$158.2m but PATMI tumbled 27.8% to S$16.4m. Management attributed this to the general market weakness, coupled with higher start-up expenses and legal costs from TWG-Tea’s expansion. Looking ahead, we expect cost pressures to persist in the near future and slash our FY14 and FY15 PATMI forecasts by 15.4% and 19.9%, respectively. We also cut our fair value from S$3.21 to S$1.90 after rolling forward our valuations to 14x FY15F EPS (previously 20x blended FY14/15F EPS). Although OSIM’s share price has plunged 18.0% since it reported its results, we believe the weak sentiment and lack of near-term catalysts may cap its upside potential. Hence, we downgrade OSIM to HOLD.
Starhill Global REIT: Good performance, attractive valuations
Starhill Global REIT (SGREIT) reported a decent 5.0% YoY growth in its 3Q14 DPU and this was within our expectations. Its Singapore portfolio continued to gain good traction, as NPI in 3Q14 rose 3.8% YoY to S$26.0m. Office leasing demand continues to be healthy, and we expect this momentum to remain robust. There was also good growth emanating from Australia. China, however, remained a drag to SGREIT (NPI -20.4% YoY), given intense competition and the austerity drive by the government. Overall portfolio occupancy was 99.1% (-0.3 ppt QoQ). SGREIT’s financial position remains strong, with a gearing ratio of 29.1%. 100% of its debt has also been fixed/hedged. We tweak our assumptions following a change in analyst coverage, but our DDM-derived fair value estimate remains unchanged at S$0.90. Maintain BUYon SGREIT, as valuations remain attractive, with the stock trading at FY15F P/NAV of 0.86x and distribution yield of 6.6%.
DBS: 3Q earnings of S$1.01b exceeded market expectations
DBS followed the other two banks and posted 3Q earnings which were ahead of market expectations. 3Q14 net earnings came in at S$1.01b, up 17% YoY, and higher than Bloomberg’s poll of S$975m. Net Interest Margin (NIM) increased 8bp from a year ago to 1.68% in 3Q14, up from 1.60% in 3Q13 and 1.67% in 2Q14. This compared to NIM of 1.71% for UOB and 1.68% for OCBC in 3Q14. Loans grew 8% (from a year ago) to S$262b versus 11% to S$193b for UOB and 27% to S$203b for OCBC. Its better-than-expected performance was fairly across the board. Net Interest Income rose 14% YoY or 3% QoQ to S$1.60b in 3Q14. Non-interest Income improved 23% YoY or 21% QoQ to S$912m, giving total 3Q income of S$2.51b. For Fee Income, Investment Banking did well and more than doubled earnings YoY to S$94m, while Wealth Management jumped 39% YoY to S$142m. We currently have a BUY on DBS and will review our earnings and fair value estimate after the analysts’ briefing later in the morning.
31 Oct 2014
KEY IDEA
UOB: 3Q exceeded expectations
UOB’s 3Q14 net earnings of S$866m came in higher than Bloomberg’s poll of S$736m. Better Fee and Other Incomes were partly mitigated by higher impairment charges. Overall group NPL has stabilized at 1.2%. Net Interest Margin (NIM) is likely to hold steady at 1.71%. Management is cautiously optimistic about its prospects, in particular on wealth management and fee income, while mindful of the slowdown in China and the rest of Asia. Taking into account the softer global outlook, we have revised our earnings projections and valuations, and lowering our fair value estimate for UOB from S$25.00 to S$24.20. With a dividend yield of 3.3% and medium term potential total return of 11%, we are retaining our BUY rating.
MORE REPORTS
OSIM International: Painful quarter; challenges ahead
OSIM International Ltd (OSIM) announced a set of disappointing 3Q14 results which fell short of ours and the street’s expectations. Revenue grew 3.4% YoY to S$158.2m but PATMI tumbled 27.8% to S$16.4m. Management attributed this to the general market weakness, coupled with higher start-up expenses and legal costs from TWG-Tea’s expansion. Looking ahead, we expect cost pressures to persist in the near future and slash our FY14 and FY15 PATMI forecasts by 15.4% and 19.9%, respectively. We also cut our fair value from S$3.21 to S$1.90 after rolling forward our valuations to 14x FY15F EPS (previously 20x blended FY14/15F EPS). Although OSIM’s share price has plunged 18.0% since it reported its results, we believe the weak sentiment and lack of near-term catalysts may cap its upside potential. Hence, we downgrade OSIM to HOLD.
Starhill Global REIT: Good performance, attractive valuations
Starhill Global REIT (SGREIT) reported a decent 5.0% YoY growth in its 3Q14 DPU and this was within our expectations. Its Singapore portfolio continued to gain good traction, as NPI in 3Q14 rose 3.8% YoY to S$26.0m. Office leasing demand continues to be healthy, and we expect this momentum to remain robust. There was also good growth emanating from Australia. China, however, remained a drag to SGREIT (NPI -20.4% YoY), given intense competition and the austerity drive by the government. Overall portfolio occupancy was 99.1% (-0.3 ppt QoQ). SGREIT’s financial position remains strong, with a gearing ratio of 29.1%. 100% of its debt has also been fixed/hedged. We tweak our assumptions following a change in analyst coverage, but our DDM-derived fair value estimate remains unchanged at S$0.90. Maintain BUYon SGREIT, as valuations remain attractive, with the stock trading at FY15F P/NAV of 0.86x and distribution yield of 6.6%.
DBS: 3Q earnings of S$1.01b exceeded market expectations
DBS followed the other two banks and posted 3Q earnings which were ahead of market expectations. 3Q14 net earnings came in at S$1.01b, up 17% YoY, and higher than Bloomberg’s poll of S$975m. Net Interest Margin (NIM) increased 8bp from a year ago to 1.68% in 3Q14, up from 1.60% in 3Q13 and 1.67% in 2Q14. This compared to NIM of 1.71% for UOB and 1.68% for OCBC in 3Q14. Loans grew 8% (from a year ago) to S$262b versus 11% to S$193b for UOB and 27% to S$203b for OCBC. Its better-than-expected performance was fairly across the board. Net Interest Income rose 14% YoY or 3% QoQ to S$1.60b in 3Q14. Non-interest Income improved 23% YoY or 21% QoQ to S$912m, giving total 3Q income of S$2.51b. For Fee Income, Investment Banking did well and more than doubled earnings YoY to S$94m, while Wealth Management jumped 39% YoY to S$142m. We currently have a BUY on DBS and will review our earnings and fair value estimate after the analysts’ briefing later in the morning.
Tiger Airways (TGR SP, J7X)
Technical SELL with 24.5% potential returns
Last price: S$0.305
Target price: S$0.23
Protective stop: S$0.355
SELL with a target price of S$0.23 with
protective stops placed at S$0.355. The stock
may continue to trade in the prevailing trend
after a short-term rebound appears to be short
lived. Watch the stock to see if it trades below
S$0.27 for further downside, as the MACD
indicator may hook down after failing to form a
bullish crossover.
Expected timeframe: 2 weeks to 2 months
Our institutional research has a fundamental
SELL with a target price of S$0.23.
Technical SELL with 24.5% potential returns
Last price: S$0.305
Target price: S$0.23
Protective stop: S$0.355
SELL with a target price of S$0.23 with
protective stops placed at S$0.355. The stock
may continue to trade in the prevailing trend
after a short-term rebound appears to be short
lived. Watch the stock to see if it trades below
S$0.27 for further downside, as the MACD
indicator may hook down after failing to form a
bullish crossover.
Expected timeframe: 2 weeks to 2 months
Our institutional research has a fundamental
SELL with a target price of S$0.23.
Oversea-Chinese Banking Corporation-
3Q14: Maiden
contribution from OCBC Wing Hang.
(OCBC SP/BUY/S$9.69/Target: S$11.60)
FY14F PE (x): 10.6
FY15F PE (x): 10.3
OCBC reported net profit of S$1,232m for 3Q14, which is slightly below our
expectations. The results included a one-off gain of S$391m after the increment of its
stake in Bank of Ningbo from 15.3% to 20%. OCBC Wing Hang made maiden
contribution of S$38m to net profit, after merger- related adjustments in depreciation and
provisions. According to management, OCBC Wing Hang’s contribution would be
S$70m-75m if normalised. Maintain BUY. Our target price of S$11.60 is based on P/B of
1.56x, derived from Gordon Growth Model (ROE: 12%, required return: 7.8% and
growth: 1.5%).
3Q14: Maiden
contribution from OCBC Wing Hang.
(OCBC SP/BUY/S$9.69/Target: S$11.60)
FY14F PE (x): 10.6
FY15F PE (x): 10.3
OCBC reported net profit of S$1,232m for 3Q14, which is slightly below our
expectations. The results included a one-off gain of S$391m after the increment of its
stake in Bank of Ningbo from 15.3% to 20%. OCBC Wing Hang made maiden
contribution of S$38m to net profit, after merger- related adjustments in depreciation and
provisions. According to management, OCBC Wing Hang’s contribution would be
S$70m-75m if normalised. Maintain BUY. Our target price of S$11.60 is based on P/B of
1.56x, derived from Gordon Growth Model (ROE: 12%, required return: 7.8% and
growth: 1.5%).
Ocbc, i have 5 lot.
well. I do not know should sell or hold. Since I do not need that money. So I just leave there. I think there is limited downside.
well. I do not know should sell or hold. Since I do not need that money. So I just leave there. I think there is limited downside.
Ocbc make me remind my another favourite share.
BANK OF AMERICA.
Buy 15.7 sold 17
Then buy again recent sell down 15.8
Now 17...
Still got big chance to climb to 19. My year end target
BANK OF AMERICA.
Buy 15.7 sold 17
Then buy again recent sell down 15.8
Now 17...
Still got big chance to climb to 19. My year end target
Can keep because as you say there is limited downside as it has already been sold down when the announcement was made. Dividend yield is also quite good depending on what price you bought it at. Today it closed at $9.89 which is somewhere near the 2014 high. Looks like got some institutional buying these last few weeks in addition to OCBC share buyback. These people will not run on a few cents profit so we can tong with them.
Ah I am not familiar with US market.
Fyi, ocbc 2014 high is close to 10.4
This is because that time there is dividend announcement and right issue.
Next time I share with you my us share. I mostly trade apple n BoA only.
Now looking at ah li baba n facebook
my FNN gone case or still can buy somemore to average down?
Valuation
Historical P/E Ratio 6.72
P/E Ratio (TTM) 8.60
P/BV (latest interim) 2.75
BVPS (latest interim) (SGD) 1.1467
EPS TTM (SGD) 0.3662
uvwxyz, interested in FNN not?
cash rich company.
Historical P/E Ratio 6.72
P/E Ratio (TTM) 8.60
P/BV (latest interim) 2.75
BVPS (latest interim) (SGD) 1.1467
EPS TTM (SGD) 0.3662
uvwxyz, interested in FNN not?
cash rich company.
Sorry bro, at the mpoment run out of cash to put in the market but thanks.
actually after FNN sold her beer business and lose the legal fight to Myanmar, which i do not know.
i really see no future in FNN, only one thing is their good dividend. maybe get few round dividend, then i will sell . see how.
btw, i see the volume of today of FNN, seem like retailer selling. institutions still holding, i hope.
Wish you success bro so that you can have a good Xmas and New Year man.
