The Trading Floor - May 2018

Discussion in 'The Trading Floor' started by Amator, Apr 30, 2018.


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  1. Amator

    Amator Well-Known Member

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    CapitaLand Commercial Trust Management Limited, in its capacity as manager of CapitaLand Commercial Trust (“CCT”, and the manager of CCT, the “Manager”), wishes to announce the proposed private placement of 130,000,000 new units in CCT (the “New Units”) to eligible institutional, accredited and other investors at an issue price of between S$1.631 and S$1.676 per New Unit (both figures inclusive) (the “Issue Price Range”) to raise gross proceeds of no less than S$212.0 million (the “Private Placement”).
     
  2. Amator

    Amator Well-Known Member

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    SINGAPORE (May 17): CapitaLand Commercial Trust is making its first foray into Europe with the acquisition of a stake in Gallileo, an office property located in Frankfurt, Germany.

    The freehold Grade A property, valued €356 million ($569.6 million), is located in the prime Central Business District (CBD), also known as the Banking District.

    The property is near to the German Central Bank, European Central Bank office towers, and the Frankfurt Opera House. The property also has easy access to a U-Bahn station at Willy-Brandt Platz, the Frankfurt Main Railway Station and Frankfurt Airport.

    CCT will hold a 94.9% stake while CapitaLand will hold the remaining 5.1% stake in the property through a special purpose vehicle. The completion of the acquisition is expected to take place in June.

    Says Kevin Chee, CEO of the manager of CCT, “Providing income stability with an established anchor tenant on a long-term lease, the acquisition offers an attractive net property income yield of 4.0%. This accretive acquisition is expected to increase CCT’s 1Q 2018 DPU by 1.4%, to 2.15 cents from 2.12 cents on a pro forma basis. Post-acquisition, CCT’s portfolio value will increase from $10.4 billion to $10.9 billion.”

    The agreed property value of Gallileo at €356 million, negotiated on a willing-buyer and willing-seller basis, represents a discount of 1.4% to the open market value of €360.9 million appraised by valuer Cushman & Wakefield LLP.

    The funding of CCT’s total acquisition cost of of €342.7 million or $548.3 million will be through a private placement of new units to raise $208.8 million of net proceeds and bank borrowings of €212.2 million.

    With the proposed private placement, the manager intends to declare an advanced distribution of income for the period from Jan 1 to the day immediately prior to the date on which the new placement units are issued.

    The estimated distribution per CCT unit under the advanced distribution will be approximately 3.49 cents with the actual amount of advanced distribution to be announced in due course.
     
  3. Amator

    Amator Well-Known Member

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    SINGAPORE (May 17): Singapore Telecommunications (Singtel) saw its earnings fall 19% to $780.6 million for the 4Q ended March, from $963.3 million a year ago, on the back of weaker results from Airtel and Telkomsel and adverse currency movements.

    This brings full-year earnings for FY18 to a record high of $5.45 billion, up 41.5% from $3.85 billion a year ago. This was due to an exceptional gain on disposal of units in NetLink Trust.

    4Q18 operating revenue was stable at $4.33 billion, a marginal 0.4% higher than $4.31 billion a year ago.

    Revenue from its core businesses comprising Group Consumer and Group Enterprise fell 1.4% to $4.12 billion during the quarter. This was mitigated by a 61.5% increase in Group Digital Life revenue to $205 million.

    In Singapore, 1Q18 consumer revenue and EBITDA were down 4% and 14%, respectively.

    Mobile communications revenue was impacted by voice to data substitution, declines in roaming services and a higher mix of SIM-only plans.

    Meanwhile, home revenues declined with the cessation of Premier League sublicensing and lower fixed voice usage but was partially mitigated by continued growth in broadband services.

    As at end March, cash and cash equivalents stood at $524.9 million.

    The board has recommended a final dividend of 10.7 cents per share, bringing total divided per share for the year to 17.5 cents.

    The group says it expects to maintain its ordinary dividends of 17.5 cents per share for the next two financial years. Thereafter, it will revert to the payout of between 60% and 75% of underlying net profit.

    “These results reflect the strong execution of our digital transformation strategy in both our core and new digital businesses. Optus gained market share in Australia underscoring its network and content strategy while our ICT and digital businesses now account for 24% of revenue, with digital marketing arm Amobee achieving growth and positive EBITDA for the year,” says Chua Sock Koong, Singtel Group CEO.

    “We remain focused on what is important to both our consumer and enterprise customers – premium mobile networks, secure high-speed connectivity, innovative products and services, and excellent customer service. Besides strengthening our competitiveness, this allows us to deliver even greater value to customers,” she adds.


    ********* xd 26/July
     
  4. nottibird

    nottibird Moderator

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    Dai Lole,

    No SingTel results?
    Thanks.
     
  5. nottibird

    nottibird Moderator

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    Thank you, sis sotong.
    Dow rebounded.
    Can SHORT again.
     
  6. nottibird

    nottibird Moderator

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  7. sotong11

    sotong11 Well-Known Member

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    morning snipers..

    congrates bro NB..
     
  8. nottibird

    nottibird Moderator

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    CMT...

    Covered some SHORTs to take some money off the table.


    [​IMG]
     
    sotong11 likes this.
  9. sotong11

    sotong11 Well-Known Member

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    Thanks bro NB..

    :eek: u know I am gona ask you for some indication ? :(

    Guess today cant do chicken run ... more likely I guess will whoos her instead (going by the result)
     
  10. nottibird

    nottibird Moderator

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    SingTel...

    The reason why she is unable to return to the 3.90s is becoz after divesting from her, smart monies did not come back.
    And they will not come back until we have a recession. During recession, smart monies seeks shelter in defensive stocks.
    And SingTel is a defensive stock.
    So meantime, its up to small funds, local institutions, retail investors and traders to support her price.
    This means we wont see the 3.70s to 3.90s for some time.
    During her dividend run in end July/early August, maybe we can see her rise to her 3.60s.
    But for now, her range is from 3.30 to 3.58.
    Do our chicken runs within this range to recover our losses when we cut our LONGs stuck higher.
     
  11. nottibird

    nottibird Moderator

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    Results tomorrow morning.
    Their regional associates in India and Indonesia both reported lower earnings.
    So its now up to Optus and SingTel's own earnings to make up for the shortfall from India and Indonesia.
    Otherwise, SingTel will report lower earnings compared to same period a year ago.
     
  12. sotong11

    sotong11 Well-Known Member

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    morning snipers...

    regret... din unload some singtel when it bounce to 3.55 .... now sink again...
     
  13. plutus2

    plutus2 Well-Known Member

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    good morning snipers
     
  14. nottibird

    nottibird Moderator

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  15. nottibird

    nottibird Moderator

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  16. nottibird

    nottibird Moderator

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    Thank you Sis Sotong. Muacks !
     
  17. sotong11

    sotong11 Well-Known Member

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    congrates bro NB
     
  18. nottibird

    nottibird Moderator

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    SEX and Miss Suntec blanjah my meals and expenses for today.



    [​IMG]
     
  19. Amator

    Amator Well-Known Member

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    SINGAPORE (May 15): OCBC Investment Research is keeping its “buy” call on Wilmar International with an unchanged fair value estimate of $3.51 despite headwinds in the near-term.

    This comes after Wilmar saw a 40.6% drop in earnings to US$203.3 million ($273.0 million) for 1Q18 on the back of seasonal sugar losses and a difficult operating environment in the Tropical Oils business.

    For the quarter ended March, group revenue grew 5.7% to US$11.17 billion on stronger sales volume recorded by the Oilseeds & Grains business, further aided by higher commodity prices.

    The way OCBC’s lead analyst Low Pei Han sees it, there are currently more positives than negatives for Wilmar.

    “The Tropical Oils segment will likely perform better in subsequent quarters,” Low says in a Monday report. “Production for this year may be about 10% higher with more favourable weather, and refining margins may improve in the next few quarters.”

    While Wilmar cautioned that any prolonged standoff between China and the US would affect the utilisation of its crushing plants, Low believes this would be partially mitigated by better performance from its flour and rice businesses.

    “We estimate that the rice and flour business currently accounts for more than 10% of the oilseeds and grains segment, but management aims to grow this segment which has relatively more stable margins,” the analyst adds.

    At the same time, Low opines that Wilimar’s Australia sugar milling business is likely to pick up from 2Q18.

    Low also notes that the group’s listing of its China business remains on track, and is likely to happen in mid-2019 or 2H19.

    “Meanwhile, the group remains on the lookout for acquisition opportunities,” Low adds, noting that its Adani Wilmar joint venture has put in a bid for debt-ridden edible oil firm Ruchi Soya.
     
  20. nottibird

    nottibird Moderator

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    I think we are seeing the start of SELL IN MAY & WAIT FOR DISMAY to go LONG.
     
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