SATS 1QFY13/14

Revenue                                    = $434.5m
Operating Profit                        = $40.7m
PATMI                                     = $46.3m
Underlying Profit From Ops     = $47.9M
Underlying Net Margin             = 11%
PATMI Margin                         = 10.6%
Debt-to-Equity                          = 0.09
EPS                                           = 4.1 cents
NAV                                         = $1.31
Cash & Cash Equiv                   = $490.7m
FCF                                           = $59m

Key costs are Staff Costs ($198m) and Raw Materials (87.8m)

StarHillGlobalReit 2QFY2013

Gross Revenue                            = $49.1m
NPI                                             = $39.1m
DPU Available For Distribution   = $26.7m
DPU                                           = 1.19 cents
Total Debt                                   = $858m
Gearing                                       = 30.3%
Interest Cover                             = 5.3
Avg Interest Rate                        = 3.03%
Unencumbered Asset Ratio        = 79%
NAV (Ajusted)                          = 0.88 cents
Total Assets                               = $2,835,822,000
Total Liabilities                          = $946,911,000
Net Assets                                 = $1,888,831,000
Free Float                                  = 61% (exclude YTL &AIA)

AscendasIndiaTrust 1QFY13/14

DPU                                                      =  1.14 cents
Total Property Income                          =  $31,250,000
NPI                                                        = $18,314,000
Income Available For Dist                    = 1.14 cents
NAV                                                      = 0.60 cents
Interest Cover                                         = 5.2
Gearing                                                   = 24%
Percentage Fixed Rate Debt                    = 100%
Average Cost Of Debt                             = 5.9%
Debt Headroom (40% Gearing)               = $200m

Currently at S$1 to INR 44.5

SuntecReit 2QFY2013

DPU                                            =    2.249cts
Net Property Income                    =    $27.956,000
Income Available For Distribution =    $50,857,000

Total Assets  =   $7,854,213,000
Total Debts   =   $3,058,838,000
Net Assets     =  $4,795,375,000
EPS               = 2.441 cents (diluted)
NAV              = $2.06
Ajusted NAV = $2.037

Outstanding Debt     = $2,905,000,000
Debt-to-Asset Ratio = 36.5%
Interest Cover          = 3.4

Corporate Rating = "Baa2"
Average All-in Financing Cost  = 2.68%

SPH 3QFY13

Operating Revenue                           $324,951K
Newspaper & Mag Revenue            $259,271K
Property Revenue                             $50,160K
Others Revenue                                $15,520K
Net Profit After Tax                         $189,790K
Operating Profits                              $91,535K
Total Assets                                     $5,528,903,000
Total Liabilities                               $1,698,003,000
Net Assets                                        $3,830,901,000
CAsh Equiv at End Of Period          $348,582,000
EPS                                                  12cents
NAV                                                 $2.33

PS:Advertising revenue fall by $8.8m (4.3%) to $197.8m. Circulation revenue contracted by $1.2m (2.3%) to $50.7m. other operating expenses rose to $24.4m (79.2%) mainly due to impairment of overseas magazine subsidiary of $15.6m.Change of accounting policy in investment property resulted in fair value gain of $111.4m this quarter.

K-Green 2QFY13

Revenue                                        $16,767K
Net Profits                                     $3,857K
Net Assets                                     $640,224K
Cash & Cash Equiv                       $34,663K
EPS                                                0.61 cents (FY2012 : 0.69 cents)
1H FY13                                        1.12 cents
Adjusted NAV                               $0.99
DPS                                                3.13 cents

HAZE!!!!!!

The PSI over the last few days had exceeded 400!!!! This is at a hazardous level unseen before in our history. I was much more interested in the PSI level rather than the 350 points DOW crash yesterday. It is much worse than in 1997. The current condition will remain unabated till weeks and months. This is a fifteen year old problem and I am disappointed that we are so ill-prepared for. Do not want to lay blame but hope singaporeans stay chin up and fight till a better day to come.

I hope we will learn our lesson this time albeit via the VERY PAINFUL WAY.