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Hong Leong Fin
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Hong Leong Finance
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mike8057d
Veteran |
21-Apr-2008 13:27
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cheong ah |
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mike8057d
Veteran |
24-Jan-2008 11:37
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I have to say that HLF does give out good dividend...at least much better than bank time deposit |
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Alligator
Veteran |
24-Jan-2008 08:45
Yells: "learning from past " |
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ojcurious, your questions was answered by HLF on the first post by Pinnacle, just copy here for you to read: HLF re-iterated that it does not have holdings in US subprime mortgage-related assets or obligations. |
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ojcurious
Member |
24-Jan-2008 08:09
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ermm.. what would be the best price to get vested then? esp with such market reactions these days... anyone have any idea is HFL involved in any of the subprime mess? thanks! |
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Alligator
Veteran |
23-Jan-2008 21:34
Yells: "learning from past " |
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At this price, the last dividend of 39cents worked out to be some 11%!! that is very high Cut from previous post by Pinnacle: Trading at a low P/NTA valuation. With a NTA of S$3.18/share, HLF is only trading at 1.2x P/NTA. This is low relative to the P/RNTA of 2.0x average for the 3 Singapore banks. We have factored a discount for HLF (given its much smaller asset base) ? our fair P/NTA valuation for HLF is 1.6x, which gives a price target of S$5.00. |
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mike8057d
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23-Jan-2008 16:19
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and the end result.............became minced meat |
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hlayar
Senior |
23-Jan-2008 15:58
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Haha. One or two might deliberately jump to the track. |
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mike8057d
Veteran |
23-Jan-2008 15:22
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now...better stay sideline.....like what SMRT announcement "behind the yellow line" |
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Pinnacle
Master |
16-Nov-2007 11:54
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Hold. Stay sideline till everything clearer. All banking and financial sectors under pressure. |
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mike8057d
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16-Nov-2007 11:46
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So should buy or sell, Master Pinnacle? |
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Pinnacle
Master |
15-Nov-2007 17:56
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UOB KH - 3Q07 : Pre-provisioning operating profit jumped 30% yoy HLF reported 3Q07 net profit of S$36.9m, up 45% yoy. This was driven by a sharp 30% yoy and 16% qoq rise in pre-provisioning operating profit. Loan expansion contributed to taking off of net interest income. Net interest income rose 21% yoy to S$51.1m. Loans expanded a robust 27% yoy and 11% qoq (+S$756m qoq). The acquisition of a portfolio of 10,300 hirepurchase agreements worth S$405m (or an average of S$39k per agreement) contributed to the strong loan expansion. HLF also financed increased activity by SMEs in sectors such as oil & gas, building and construction industry and retail property development projects. All these will keep net interest income robust in subsequent quarters. Pre-provisioning operating profit rose a sharp 30% yoy and 16% qoq. Besides the contribution from net interest income, fee and commission income?s increase of 113% yoy is also a positive. Reversal of allowances for doubtful debts amounted to S$7.7m, more than doubled 3Q06?s S$3.3m. This strengthened PBT expansion to 41% yoy. Deposits rose 40% yoy and 11% qoq. The robust growth in deposits has helped fund HLF?s loan expansion. 85% of HLF?s funding comes from time deposits, and this is a positive given the 90bp YTD decline in 3-mth SIBOR, which has correspondingly translated to lower time deposit rates. The on-going re-pricing of time deposit rates (as they mature) will help HLF widen its net interest margin going ahead. HLF re-iterated that it does not have holdings in US subprime mortgage-related assets or obligations. After considering the balance in its Section 44A tax credit account in conjunction with available distributable reserves, HLF declared a second interim dividend of 6¢ and a special dividend of 6¢ per share (both less 18% tax). These dividends will be paid on 18 Dec 07. Trading at a low P/NTA valuation. With a NTA of S$3.18/share, HLF is only trading at 1.2x P/NTA. This is low relative to the P/RNTA of 2.0x average for the 3 Singapore banks. We have factored a discount for HLF (given its much smaller asset base) ? our fair P/NTA valuation for HLF is 1.6x, which gives a price target of S$5.00. |
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