CapitaLand - How CapitaLand could milk gains from Singapore, China assets in Q4
Will they be as impressive as Q3 performance?
According to DBS, looking ahead, 4Q13 and FY14 contributions are likely to be led by higher residential sales in Singapore and China as well as better retail mall leasing income.
Here's more:
In China, it has locked in Rmb4.3m of new sales YTD. This in addition to the 1800 units to be handed over in 4Q, and should underpin China residential profits.
In Singapore, it has a remaining 1,239 units yet to be sold from various projects. Other business segments such as the retail mall and serviced apartment business units should continue to deliver better y-o-y performance on new mall completions and securing new management contracts.
From chart gave 3 support prices 0.89, 0.845 and 0.825.
Yesterday hammer down 0.86
Vested at 0.88
Me will see 0.845 will hold or not but no hurry to average.
Don't think will fall below third support price 0.825 because...........
52-Wk Low : 0.820
52-Wk High : 1.420
If really fall below third support price then .... lets hold hands in hands group praying and sing Lemon Tree - Fools Garden.
Hiap Hoe Limited (SGX: 5JK), a regional real estate group with a diversified portfolio of hospitality, retail, commercial and residential buildings, saw its revenue almost double to S$81.1 million in third quarter of 2013 (3Q 2013) as compared to S$40.8 million seen in the previous year.
The surge was because of higher progressive revenue recognized on its projects of Signature at Lewis, Skyline 360O and Waterscape at Cavenagh.
There was a 149.8% jump in net profit to S$33.3 million for the quarter. The net profit rise is in tandem with the revenue rise.
On the balance sheet, as of 30th September 2013, the company has a total borrowing of S$167.1 million. In fact, Hiap Hoe issued the first tranche of fixed rate notes under the S$500 million multicurrency medium term note programme recently to support its growth going forward. The debt-to-equity ratio equates to 1.04. The cash balance stands at S$3.3 million.
Mr Teo Ho Beng, Hiap Hoe’s Executive Chairman and Chief Executive Officer said, “We are delighted to report that the quarter has turned out to be an exciting period in which we were able to deliver another quarter of steady results despite the prevailing weakness in the current Singapore market. The strategies that we have put in place to grow our business in new markets and other investment asset classes have begun to take shape and we expect these initiatives to continue to generate sustained value for our shareholders over the mid to long-term.”
The company said that since it expects the local property market to remain challenging in the short-term, it “will continue to step-up its marketing efforts to drive sales for its remaining unsold residential units.” Hiap Hoe also marched on with its regional expansion plans, acquiring three assets in Melbourne, Australia during the quarter.
Earlier last month, Hiap Hoe offered to buy up all the remaining shares of SuperBowl Holdings Limited (SGX: S48) at S$0.75 per share. Hiap Hoe sees a strategic and operational fit between the property development and investment business of itself and SuperBowl’s business in investments in commercial properties.
Hiap Hoe closed at S$0.815 on Monday and is trading at a historical PE of 6.6. The dividend yield is at 1.2%.
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