Mapletree PanAsia Com Tr - Wah, Historical low at 1.49, is it a crisis why reit are being sold down to such a low level because of high interest rates that may not last long!

 At 1.49, yield is about 5.9%. NAV 1.749. 

I think during bad time then we can see this kind of depressing price for reit.

I think is good to be cautious!

pls dyodd. 

 At 1.52, yearly dividend is about 8.86 cents,  yield is about 5.82% for this index reit looks rather interesting!

NAV 1.749. Gearing is high at 40.7%. Please take note and do your own due diligence!

 Indeed,  it has broken down 1.57 and went down to touch 1.50. Looks rather weak!

Yesterday a nice greenish candlestick appeared looks like some buying activities is happening. 

Let's monitor and see if it can rise up to reclaim 1.60 !

Please dyodd.

 I think she has been driven into an oversold territory looks like a gd pivot point!

NAV is 1.749.

Yearly dpu is about 8.86 cents. Yield is about 5.5%.

In Singapore they own the core assets like VivoCity and Mapletree Business City (MBC). In Hong Kong they own the Famous Festival Walk shopping mall cum commercial office etc. 

Chart wise,  bearish mode!

It 1.60 cannot hold up well then next support is at 1.57.

Please dyodd.

 The results is so so!

NPI is up 1% to 179.2m.

Finance costs increase 6.1% to 54m.

Distribution income is down 2.4% to 114.7m.

Dpu of 2.18 cents versus 2.25 cents last quarter. 

Occupancy rate is 95.7%.

Gearing 40.7%.

 Results is due on 31st July!

Is it a tell tale sign results might not be good! 

Pls dyodd.

 

Chart wise,  she is gaining strength and likely rise up to test 1.70-1.72!

A nice breakout at 1.72 plus good volume we may likely see her rising up further towards 1.80 than 1.85.

Please dyodd.

 I nibbled a bit at 1.61 as it is hovering at the major support level! 

Not a call to buy or sell!

Pls dyodd. 

Mapletree Pan Asia Commercial Trust (“MPACT”) is a real estate investment trust (“REIT”) positioned to be the proxy to key gateway markets of Asia. Listed on the Singapore Exchange Securities Limited (“SGX-ST”), it made its public market debut as Mapletree Commercial Trust on 27 April 2011 and was renamed MPACT on 3 August 2022 following the merger with Mapletree North Asia Commercial Trust.

Its principal investment objective is to invest on a long-term basis, directly or indirectly, in a diversified portfolio of income-producing real estate used primarily for office and/or retail purposes, as well as real estate-related assets, in the key gateway markets of Asia (including but not limited to Singapore, China, Hong Kong¹, Japan and South Korea).

MPACT’s portfolio comprises 18 commercial properties across five key gateway markets of Asia – five in Singapore, one in Hong Kong, two in China, nine in Japan and one in South Korea. They have a total NLA of 11.0 million square feet and valued at S$17.1 billion. 

Within Singapore, they are:

• VivoCity – Singapore’s largest mall located in the HarbourFront Precinct;
• Mapletree Business City (“MBC”) – a large-scale integrated office, business park and retail complex with Grade A building specifications, supported by ancillary retail space, located in the Alexandra Precinct;
• mTower – an established integrated development with a 40-storey office block and a three-storey retail centre, Alexandra Retail Centre (“ARC”), located in the Alexandra Precinct;
• Mapletree Anson – a 19-storey premium office building located in the Central Business District (“CBD”); and
• Bank of America HarbourFront (“BOAHF”) – A premium six-storey office building located in the HarbourFront Precinct.

Outside Singapore, they are:

• Festival Walk, Hong Kong – a landmark territorial retail mall with an office component;
• Gateway Plaza, China – a Grade A office building with a podium area in Lufthansa sub-market within Beijing;
• Sandhill Plaza, China – a Grade A business park development in Zhangjiang Science City, a key business and innovation hub in Pudong, Shanghai;
• Japan Properties – nine freehold properties comprising five office buildings in Tokyo (IXINAL Monzen-nakacho Building, Higashi-nihonbashi 1-chome Building, TS Ikebukuro Building, Omori Prime Building and Hewlett-Packard Japan Headquarters Building); an office building in Yokohama (ABAS Shin-Yokohama Building) and three office buildings in Chiba (SII Makuhari Building, Fujitsu Makuhari Building and mBAY POINT Makuhari); and
• The Pinnacle Gangnam, South Korea – a freehold Grade A office building with retail amenities located in Gangnam Business District, Seoul.

MPACT is one of the three REITs sponsored by Mapletree Investments Pte Ltd (“MIPL” or the “Sponsor”), a leading real estate development, investment, capital and property management company headquartered in Singapore.

MPACT is managed by MPACT Management Ltd. (“MPACTM” or the “Manager”), a wholly-owned subsidiary of MIPL. The Manager aims to provide unitholders of MPACT (“Unitholders”) with a relatively attractive rate of return on their investment through regular and steady distributions, and to achieve long-term stability in Distribution per Unit (“DPU”) and Net Asset Value (“NAV”) per Unit, while maintaining an appropriate capital structure for MPACT.

2022 FY Financial results:

MPACT Achieves 65.4% and 62.6% Growth in FY22/23 Gross Revenue and Net Property Income

Full-year distribution per unit (“DPU”) totalled 9.61 Singapore cents.

Boosted by contribution from properties acquired through the merger1.

Better performance of core assets, VivoCity and Mapletree Business City (“MBC”), cushioned higher utility and finance costs in FY22/23. 

Positive rental reversion recorded by all markets except Greater China.

VivoCity’s full-year tenant sales set new record at over S$1 billion, and asset enhancement initiative (“AEI”) on Level 1 on track for opening from end-May 2023.

Improvement in shopper traffic and tenant sales at Festival Walk with the lifting of COVID measures and reopening of border with Mainland China.

Successfully renewed major leases at Bank of America HarbourFront, Festival Walk, Gateway Plaza and MBC during the year, adding to portfolio resilience.

Chart wise, bearish mode!

It is now hovering at the support level of 1.60-1.61.

Yearly dividend is about 9 cents ( base on 4th quarter dpu of 2.25 cents).

Yield is about 5.6% based on current price of 1.61.

NAV is 1.759.

As at 31 March 2023, the aggregate leverage ratio was 40.9% and the average term to maturity was 3.0 years. For FY22/23, the weighted average all-in cost of debt was 2.68% per annum and the adjusted interest coverage ratio was approximately 3.5 times on a 12-month trailing basis. 

Not a call to buy or sell!

Please dyodd.

Venture Corporation - Wah, it seem like some buying activities spotted today, super oversold!

Wah, looks like a nice rebound is happening!

A nice white soldier spotted on the chart today.

Let's monitor and see how it progress for the next few sessions!

 Total Revenue is down 11.9% to 1582.2m.

Net profit of 140m is down 19.7% YOY. 

EPS of 0.48 . Estimating full year EPS of 0.98, PE is 14.6x .

Cash on hands increase from 812m to 895m.

Net cash position. Solid!

XD 1st September.  Pay date 14 Sept.

The outlook seems good!

Not a call to buy or sell!

Please dyodd. 

Venture Corporation Limited was formed in 1989 as an electronic services provider after the merger of three companies. With over three decades of consistent growth and 12,000-strong today, the Group is a leading provider of technology services, products and solutions, with established capabilities spanning innovation, design and development, product and process engineering, design for manufacturability and supply chain management in diverse technology domains.

Headquartered in Singapore, the Group comprises more than 30 companies worldwide with Centres of Excellence in Southeast Asia, Northeast Asia, America and Europe.

The Group is well-known for its deep know-how and expertise in various technology domains. These include life science, genomics, molecular diagnostics, medical devices and equipment, healthcare, luxury lifestyle and wellness technology, test and measurement technology instrumentation, networking and communications, advanced industrial as well as computing, printing and imaging technology.

Quote: 

. On Aug 31, the blue-chip contract manufacturer acquired 25,000 shares on the open market for a total of $317,310.70 or $12.68 each.

Earlier this month on Aug 7, Venture acquired 100,000 shares at $13.92 each. This brings the total number of shares bought back under the current mandate to 125,000 shares, equivalent to 0.043% of the share base.

Frasers Cpt Tr - Chart wise, bullish mode! I think high chance she may reclaim 2.26 and rises higher tobtest 2.32.

TA wise,  bullish mode!

Short term wise,  I think she may likely conquer 2.26 and rises higher to test 2.32 than 2.35.

Please dyodd.

  

I think the Manager/sponsor has done the right thing to pare down the debts. 

I think this is rather encouraging and should be able to weather out this higher interest rate environment!

Not a call to buy or sell!

Pls dyodd. 

Divestment of the Changi Mall at 338M , Citi Analyst upgrade to buy with a price target of 2.51, Awesome!

Quote :

Citi Research analyst Brandon Lee has upgraded his call on FCT to “buy” given its improved gearing to 37.1%, making the REIT the lowest-geared retail Singapore REIT (S-REIT) among the REITs within his coverage.

FCT’s move will also give it sufficient debt headroom to make potential acquisitions that are accretive to its distribution per unit (DPU), Lee adds.

The recovery of retail revenue after Covid-19 is also another plus for FCT in the analyst’s book.

With all that in mind, Lee has increased his target price to $2.51 from $2.30. His new target price has an implied P/B of 1.08x in-line with FCT’s five-year pre-Covid-19 mean of 1.09x.

Chart wise,  bullish mode!

A nice breakout of 2.26 smoothly plus good volume that may likely drive the price higher towards 2.30 than 2.35 and above!

NAV 2.32. Yearly Dividend is about 12.2 cents. Yield is about 5.44% at 2.24. I think gd price level to monitor. 

Please dyodd.

CapLand Ascott Trust - Finally, she has a nice rebound last Friday and closed well at 99.5 cents accompanied with high volume this is rather bullish!

 Finally,  we can see some buying activities and pushed the price higher to touch 1.01 before settling down at 99.5 cents. Coupled with high volume I think this is rather bullish!

Immediate resistance is at 1.00 than 1.02 follow by 1.05. 

A nice breakout of 1.05 plus good volume we may likely see her rising up to test 1.10 - 1.12.

Not a call to buy or sell!

Pls dyodd.

 

The price has fallen off from 1.12 before announcement of the PP and PO for the acquisition of the new assets to a low of 0.96 , seems rather overly done!

At 0.97, yield is looking quite gd at about 5.5% . NAV 1.13.

The PO results is out shown only in total 60+% has taken up this PO at 1.025. 

I think market doesn't seem to like the outcome  judging from the price weaken further to close at 0.96.  

At 0.96, estimating yearly dividend of about 5.3 cents, yield is about 5.5% for this hospitality reit seem not to bad!

I have taken this opportunity to nibble a bit at 0.965 today.  It is currently,  trading at the major support level,  looks rather interesting!

Please dyodd.

Wah, she has retreated from 1.02 to touch the low of 0.99 Looks rather interesting!

I think immediate support is at 0.985.

Please dyodd.

The recent Private Placement (PP) at 1.043 and 

PO 1.025, looks like current price is trading at a discounted price!

Not a call to buy or sell!

Please dyodd. 

It seems that the market doesn't in favor of this Private placement and Preferential Offering for the acquisition of new assets plus AEI.

The price has fallen off from 1.12 to touch 1.01 today.

It has fallen off 9.8% versus 1.8% dpu accretive. 

The acquisition is merely 1.8% dpu accretive. 

The current price of 1.01 is cheaper than the PO price at 1.025.

So, I think it make no sense to take up the PO offering. 

After XD on Thursday,  may be 0.99-1.00 is coming back! 

Please dyodd.

Mapletree Ind Tr - Today it has managed to breakout 2.31 and closed well at 2.32, this is rather bullish!

 Today she has a nice breakout of 2.31 and closed well at 2.32, this is rather bullish!

I think she may rise up to test 2.40 - 2.45.

Pls dyodd. 

 Chart wise,  bullish mode!

She has managed to reclaim 2.31 smoothly and is now trading at 2.32 to 2.33 looks rather positive!

Short term wise,  I think likely to rise up to test 2.40 than 2.45! 

Please dyodd.

 She has managed to bounce-off from 2.17 and closed higher at 2.23, looks rather positive!

I think boat is back! 

At 2.20, yield is about 6.1% estimating yearly dividend of 13.4 cents.

NaV 1.86. Gearing is below 40%.

Chart wise, looks like she may go down to test the support at 2.15.

Please dyodd.

 Wah, 2 nice green candlesticks appeared on the last for 2 days looks rather positive! 

She has managed to bounced off from 2.15 to close at 2.22 this is rather encouraging and might continue to rise up to test 2.25 than 2.30.

Please dyodd.

  

Mapletree Industrial Trust ("MIT") is a real estate investment trust listed on the Main Board of Singapore Exchange. Its principal investment strategy is to invest in a diversified portfolio of income-producing real estate used primarily for industrial purposes in Singapore and income-producing real estate used primarily as data centres worldwide beyond Singapore, as well as real estate-related assets. 

As at 31 March 2023, MIT's total assets under management was S$8.8 billion, which comprised 85 properties in Singapore and 56 properties in North America (including 13 data centres held through the joint venture with Mapletree Investments Pte Ltd). MIT's property portfolio includes Data Centres, Hi-Tech Buildings, Business Park Buildings, Flatted Factories, Stack-up/Ramp-up Buildings and Light Industrial Buildings.

MIT is managed by Mapletree Industrial Trust Management Ltd. and sponsored by Mapletree Investments Pte Ltd.

NAV is about 1.8653.

Yearly dividend of about 13.4 cents.

Yield is about 6% at 2.21.

Occupancy rate is 94.9%.

Gearing 37.4%.

The recent Private placement of 204.8m for the acquisition of data centre in Japan,Osaka. Looks like dpu is accretive! 

Looks like gd price is back!

Not a call to buy or sell!

Please dyodd.

The price has fallen below the recent Private placement price of  2.21, looks like a good pivot point!

Yield is about 6.11% based on current price of 2.18.

Immediate support is at 2.17.

Please dyodd.

QAF Limited - Gardenia roti bread is trading at an interesting price level of 79.5 cents! Yield is about 6.29%

  After Ex.dividend on 7th September, the price has corrected to 0.795 looks rather interesting!

At 79.5 cents, yield is about 6.29%. NaV is 0.827.

The recent share bought back by the company director it might be indication of the price is trading at an undervlaue price level. The director and executive director Lin Kejian bought 1,018,200 shares at an average price of S$0.815 per share. 

I have nibbled a bit today  - 8th September at 0.795 per share.

Not a call to buy or sell!

Pls dyodd. 

This is a purely dividend play ! Not much capital gains as trading volume is always very low kind of illiquid! At 0.81, yield is more than 6%.

Their track records has been consistently paying out 5 cents dividend for past few years so, I think it will likely be the same for Year 2023!

Pls dyodd. 

NAV0.827.

Yearly dividend of 5 cents.

Yield is above 6% at 0.815.

Net cash position. 

But cash flow is slightly negative. 

Recently,  the director bought back some share.

This might be an indication that the price is  undervalued .

Please dyodd. 

QAF core businesses are into Bakery, Distribution and Warehousing!

Branded Packaged Bread

Our branded packaged breads are Gardenia and Bonjour. We are the region's leading manufacturer and distributor of the premium Gardenia brand of packaged bread, the top selling brand in Singapore, Malaysia and the Philippines.

Each day, Gardenia bread is delivered 'straight from the oven' by our fleet of some 1,900 vans and trucks to about 78,000 supermarkets, convenience stores and general trade channels all over Singapore, Malaysia and the Philippines.

Our In 2022, Gardenia Singapore improved the recipes of two existing milk bread products and launched the Gardenia Hokkaido Butter Rolls in February 2022 and the Gardenia Hokkaido Hi-Calcium Milk Bread in April 2022. The new Gardenia Hokkaido Butter Rolls are made with a Hokkaido butter blend and the creamy and soft bun texture makes the butter rolls enjoyable on their own as well. Targeted at milk bread lovers and families with young children, the new Gardenia Hokkaido Hi-Calcium Milk Bread contains Prebiotics, Calcium, Iron and both Vitamins B1 and B3.

To provide greater convenience and accessibility to Gardenia products, the company became the first bakery in Singapore to introduce the loaf bread vending machine. These vending machines are located in selected high-density residential areas and corporations to serve consumers 24 hours a day, rain or shine.

The company has a multi-brand portfolio, with bakery brands such as Bonjour and Bonjour Delights to cater to different consumer tastes. Since 1998, Bonjour has been carrying its own range of white, wholemeal and speciality breads, as well as croissants and buns. Bonjour seeks to deliver tasty and affordable products with interesting flavours such Bonjour Choc Chip Raisin Loaf and Bonjour Butterscotch Loaf. In 2017, Bonjour was awarded “Top Influential Brand” status in the Bread Category. The Bonjour Delights brand was launched in 2021 to target price-sensitive consumers seeking nostalgic local bakery products.

Garde7nia operates two bakery plants in Singapore, while the Spreads

The Group has developed a line of bread spreads to complement its wide range of breads and bakery products.

In Singapore, Ben Foods has a range of spreads comprising of Cowhead Butter, Cowhead Dandelion Spread (soft margarine), Cowhead Cream Cheese Spread and Cowhead Dandelion Margarine Block, a shelf stable margarine that is ideal for cooking, frying and baking.

In 1997, Gardenia Malaysia launched Auntie Rosie’s line of kaya spreads. The Original Homestyle Kaya and Natural Pandan Kaya spreads have become very popular with young and old alike.

To cater to the demand for competitively priced tasty and quality bread spreads, Gardenia Malaysia also launched two new and exciting chocolate spreads in 2015. They are the rich-tasting and creamy Delicia Hazelnut Chocolate Spread and Delicia Milky Chocolate Spread. The spreads were initially launched on a small scale and were so well received that they now come in upsized 375g jars and are sold in over 8,000 outlets in Malaysia.

In 2022, Gardenia Malaysia introduced a new variant to its spread range, the Gardenia Delicia Salted Caramel, a flavoured chocolate spread. The creamy, thick textured and rich caramel taste chocolate spread comes in 2 pack sizes: 200g and 375g.

As part of Gardenia Philippines’ expansion into the non-bread category, the company introduced Gardenia Malaysia’s Delicia chocolate spread into the local Philippine market in 2017.

 has a Ben Foods

Our distribution and warehousing activities are wholly integrated and supported by our own fleet of refrigerated trucks, multi-temperature storage, logistics and distribution facilities.

We import and distribute a wide variety of food and beverage products including meat, milk and dairy products, frozen vegetables, soups, pastries, noodles, confectionery, sauces, spreads, snack products, wines and juices.

Ben Foods’ own proprietary brands of food products have not only become familiar household names, but are exported regionally to countries such as Malaysia, the Philippines, Myanmar, Laos, Cambodia, Hong Kong, Taiwan, Macau, Brunei, Indonesia, Vietnam and Bangladesh.

Our house brands comprise the Cowhead range of quality milk and dairy products, Farmland processed food products, Farmchef (frozen potatoes and meat), Haton (seafood products), Orchard Fresh (beverages) and Spices of the Orient (sauces and seasonings).

We strive to strengthen our proprietary brands by launching new, innovative and functional food products each year.

In 2022, we launched the Cowhead range of creamy instant noodles. This range includes a variety of Asian spicy and western pasta flavours. Cowhead creamy instant noodles are being promoted to be cooked with Cowhead UHT milk as a strategy to further strengthen the brand through product synergy.

Our customers are the foodservice sector and include food manufacturers, fast-food chains and restaurants, supermarkets, wholesalers, independent retail outlets, hotels, hospitals, bakeries, in-flight kitchens and ships.

Our Wine & Spirits division represents and distributes wines from various countries, including France, Italy, Spain, Chile, Argentina, South Africa, Australia and New Zealand. plant in Johor, Malaysia called Farmland Bakery, which produces bakery p

roducts foduce more than 1.3 billion loaves, buns and snack cakes each year. In recognition of our commitment to constant product innovation and excellence, Gardenia has been awarded “Superbrands” status in the Philippines, Malaysia and Singapore. is a leading multi-industry
food company with core businesses
in Bakery, and Distribution
and Warehousing.

We have an extensive operations and distribution network across the Asia-Pacific region including Singapore, Malaysia, the Philippines, Australia, Myanmar, Cambodia, Hong Kong, Taiwan, Macau, Brunei, Indonesia,Vietnam, Laos and Bangladesh.We employ more than 9,000 people regionally and are listed on the Singapore Exchange.

CapLand Ascott Trust - I think the weakness in price is presenting a good opportunity to take a second look on this counter!

She is Trading  at 0.97, yield is about 5.5%, NAV is 1.138. 

Looks like the selling has more or less completed and likely see the price stabilizing at current price range of 0.96 to 0.99. 

Please dyodd. 

The price has fallen off from 1.12 before announcement of the PP and PO for the acquisition of the new assets to a low of 0.96 , seems rather overly done!

At 0.97, yield is looking quite gd at about 5.5% . NAV 1.13.

The PO results is out shown only in total 60+% has taken up this PO at 1.025. 

I think market doesn't seem to like the outcome  judging from the price weaken further to close at 0.96.  

At 0.96, estimating yearly dividend of about 5.3 cents, yield is about 5.5% for this hospitality reit seem not to bad!

I have taken this opportunity to nibble a bit at 0.965 today.  It is currently,  trading at the major support level,  looks rather interesting!

Please dyodd.

Wah, she has retreated from 1.02 to touch the low of 0.99 Looks rather interesting!

I think immediate support is at 0.985.

Please dyodd.

The recent Private Placement (PP) at 1.043 and 

PO 1.025, looks like current price is trading at a discounted price!

Not a call to buy or sell!

Please dyodd. 

It seems that the market doesn't in favor of this Private placement and Preferential Offering for the acquisition of new assets plus AEI.

The price has fallen off from 1.12 to touch 1.01 today.

It has fallen off 9.8% versus 1.8% dpu accretive. 

The acquisition is merely 1.8% dpu accretive. 

The current price of 1.01 is cheaper than the PO price at 1.025.

So, I think it make no sense to take up the PO offering. 

After XD on Thursday,  may be 0.99-1.00 is coming back! 

Please dyodd.

Frasers Cpt Tr (FCT) - I think the Management is doing the right thing to bring down the Gearing to 37.1%!

  

I think the Manager/sponsor has done the right thing to pare down the debts. 

I think this is rather encouraging and should be able to weather out this higher interest rate environment!

Not a call to buy or sell!

Pls dyodd. 

Divestment of the Changi Mall at 338M , Citi Analyst upgrade to buy with a price target of 2.51, Awesome!

Quote :

Citi Research analyst Brandon Lee has upgraded his call on FCT to “buy” given its improved gearing to 37.1%, making the REIT the lowest-geared retail Singapore REIT (S-REIT) among the REITs within his coverage.

FCT’s move will also give it sufficient debt headroom to make potential acquisitions that are accretive to its distribution per unit (DPU), Lee adds.

The recovery of retail revenue after Covid-19 is also another plus for FCT in the analyst’s book.

With all that in mind, Lee has increased his target price to $2.51 from $2.30. His new target price has an implied P/B of 1.08x in-line with FCT’s five-year pre-Covid-19 mean of 1.09x.

Chart wise,  bullish mode!

A nice breakout of 2.26 smoothly plus good volume that may likely drive the price higher towards 2.30 than 2.35 and above!

NAV 2.32. Yearly Dividend is about 12.2 cents. Yield is about 5.44% at 2.24. I think gd price level to monitor. 

Please dyodd.