In late 2009, SPH together with NTUC FairPrice and NTUC Income made a bid for Clementi Mall at a hefty price of $541M, a cool 41.9% above the next highest bid of $382M. SPH share price immediately took a hit as everyone unanimously conluded that the bid price is way too high. It is probably still true today that SPH overbid for Clementi Mall at the expense of shareholders.
The consolation however is the recent asset evaluation done by Knight Frank for SPH three properties (includiing site at Sengkang). KF valuated Clementi Mall at $598m based on current market conditions.Hopefully this make those shareholders feel vindicated. However, it could have been a MUCH BETTER deal if SPH had been more prudent in its bid of Clementi Mall.
Monday, August 27, 2012
Monday, August 20, 2012
Problem Of Being Not Invested
I just went to the Bank recently to create a new fixed deposit account for amount I received recently from some third-party organizaion. I did not want to invest this sum as the market has gone up a bit recently. I was quite surprised that the rate is 0.15% for 6 months and 0.25% for 12 months. I thought to myself what would have happen if I am totally in cash in the kast few years or have gotten out due to the volatility in 2010 and 2011???? What much would I have lost without being keeping myself invested??? By keeping myself invested, I would still be better than if I had been in cash even if the market got to go down by 20-30% in the next few months. The current environment simply do not reward but instead penalise heavily those who stay 100% in cash.
Sunday, August 5, 2012
SembCorp 2QFY2012
Revenue = $2,668M
Net Profit = $191M
EPS = 10.7 cents
Profit From Operations
Utilities = $155.2M
Marine = $170.8M
Urban Dev = $9.6M
Other Businesses = $4.5M
Corporate = ($3.8M)
Total = $336.3M
NAV = 2.30
Interest Cover = 13
ROE = 17.1%
Gearing Ratio = 0.04
Free Cash Flow = $35M (1HFY2012)
Net Profit = $191M
EPS = 10.7 cents
Profit From Operations
Utilities = $155.2M
Marine = $170.8M
Urban Dev = $9.6M
Other Businesses = $4.5M
Corporate = ($3.8M)
Total = $336.3M
NAV = 2.30
Interest Cover = 13
ROE = 17.1%
Gearing Ratio = 0.04
Free Cash Flow = $35M (1HFY2012)
Thursday, August 2, 2012
LMIR 2QFY2012
Results released on 2/8/2012.
Gross Revenue = $45,799K
NPI =$30,737K
Distributable Amount =$17,121K
EPS =0.93 cents
DPU = 0.79 cents
Total Assets =$1,586,115K
Total Liabilities =$370,558K
NAV = 55.74cents
Gearing = 9.3%
Gross Revenue = $45,799K
NPI =$30,737K
Distributable Amount =$17,121K
EPS =0.93 cents
DPU = 0.79 cents
Total Assets =$1,586,115K
Total Liabilities =$370,558K
NAV = 55.74cents
Gearing = 9.3%
Monday, July 30, 2012
SingPost Q1FY2012/2013
Revenue = $151.6M
Underlying Net Profit = 36.6M
Net Profit = $38.1M
Mail Revenue = $100.9M (Profit $34.6M)
Logistics Revenue = $57.1M (Profit $3.1M)
Retail Revenue = $18.6M (Profit $3.6M)
Others (Profit) = $7.438M
Net Debt = 0.6X
EBITDA/Interest = 18.1
EPS = 1.820 cents
NAV = 34.48 cents
Sunday, July 29, 2012
SMRT 1QFY2013
Q1FY2013 relaeased on 27/7/2012
Revenue = $275.2M
Operating Expenses = $245.1M
Operating Profit = $43.9M
EPS = 2.4 cents\
NTA = 53.6 cents
Rail = $25M
Bus = (5.2M)
Taxi = 1.5M
Rental = $16.2M
Adv = $4.5M
Engr & Svcs = $0.1M
Total Assets = $1781.1M
Total Liabilities = $952M
Gearing = 0.15
Wednesday, July 25, 2012
SAT Q1FY2012/2013
Results released on 26/7/2012
Revenue = $437.9m
Operating Profit = $39.3m
PATMI = $41.3m
Net Margin = 9.4%
Debt-to-Equity = 0.11
EPS = 3.7 cents
NAV = $1.39
Cash & Cash Equiv = $533.8m
Key costs are Staff Costs ($194.1m) and Raw Materials (90.3m)
Revenue = $437.9m
Operating Profit = $39.3m
PATMI = $41.3m
Net Margin = 9.4%
Debt-to-Equity = 0.11
EPS = 3.7 cents
NAV = $1.39
Cash & Cash Equiv = $533.8m
Key costs are Staff Costs ($194.1m) and Raw Materials (90.3m)
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