2nd Liner Prop Stocks

MacGyver
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11 years 5 months ago #11984 by MacGyver

Replied by MacGyver on topic Re:2nd Liner Prop Stocks

I am seriously exploring 2nd tier property stocks now.
With low interest rate environment for the next 3 years, cash-rich Singaporeans have to buy something in the market. Hence, I believe we will see sustainable mid-tier property prices in the next 1-2 years.
But I am very concerned that the manner that Mr Khaw has been pushing the HDB supply, there will be an excessive supply of HDBs and ECs in the market by 2013-2014. 2nd tier property stocks involved in mass market projects may not benefit.

Any good ideas from the forummers here?

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Guest
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11 years 5 months ago #11991 by Guest

Replied by Guest on topic Re:Re:2nd Liner Prop Stocks

You can study Wingtai and let me know your view

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Bob
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11 years 5 months ago #11992 by Bob

Replied by Bob on topic Re:2nd Liner Prop Stocks

If you don't have a positive view on Hiap Hoe, you are not looking at the right stuff. CheerS!

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Guest
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11 years 5 months ago #11997 by Guest

Replied by Guest on topic Re:Re:2nd Liner Prop Stocks

Chip eng seng has high earning visibility from now till 2014. Has been researching on this counter for quite some time now. Q3 results did not disappoint. Will email Leong CT after I clean up my report. Just my 2 cents worth. Not a pure property play thou, with slightly more than half contributions coming from constructions, but the number of projects to be launched in the next 2 years will put some of the smaller property players to shame. Summer first highlighted the stock, and the more I researched on it, the more I like it. My 2 cents worth only

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Terence
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11 years 5 months ago #12008 by Terence

Replied by Terence on topic Re:2nd Liner Prop Stocks

hello Guest, has the valuation of Chip Eng Seng @ 47 cents already priced in the good prospects?

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greenrookie
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11 years 5 months ago - 11 years 5 months ago #12010 by greenrookie

Replied by greenrookie on topic Re:Re:2nd Liner Prop Stocks

Hi Terence, I am vested at 47 cents, I would definitely like to accumulate at lower prices, as for whether its has priced in its prospects, I would say it has somewhat priced since it has a good run, but I still see value.
CES average ROE has is 22%(However, its rather erratic, with some year having roe as high as 54%), comparable to pure property play like roxy pacific, hiap Hoe.
CES is trading at 0.74 PB whereas Hiap Hoe is trading 0.95, CES has better earning visibility till 2014 and maybe 2015, HH has good visibility till 2013, although both have good RNAV story.
CES has attractive dividend payout, I exoect to get back 10 cents dividends from now till 2014, and i expect the australia project to be one of high margin. (Although risk is involved)
CES should have a poor 2012 in terms EPS, but I believe that it will be in the range 14-18 cents after that till early 2015.
All in all, my take is: many smart investors have already found this gem long ago, and is already sitting on handsome profits, but if you looking its internal prospects and do some peers comparisions, I compared with construction companies, Lian Beng, TiongSeng, Koh brothers (Both with property development arm), and pure play like SIngHoldings, Roxy pacific, Hiap Hoe. I still like CES at this price. Any price drop till to fiscal cliff or whatever comes, will allow me to accumulate further Hope I answer your question

Last edit: 11 years 5 months ago by greenrookie.

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