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Sats

krisluke
Supreme

17-Jan-2011 15:02

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Alert Admin SATS: Operating data for 3Q2010 Oct-Dec positive with increase in all measures both YTD and yoy. For the quarter on a yoy basis, services were up 4.4%, flights were up 5.8%, passengers handled were up 2.1%, cargo was up 3.2% and gross meals produced up 4.3%...

All 9M2010 results saw a yoy improvement of greater than 5%. As of last yr, meal services contributed 67.0% of rev, and gateway services 32.2%. Operating results support above Deutsche report and should guide for a better 3Q result…

SATS trading at P/E 16.76x, but has shown improvement of +50% in prev year rev compared to 08-09 figures. Based on half yr results, co is on track to meet prev yr rev figures.

// fyi, I bot this through atm almost 10 years ago at 2.50 per lot //

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Blastoff
Elite

17-Jan-2011 13:18

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Alert Admin SATS Aviation Operating Data for 3Q and 9MFY2010-11

http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_32E988951D78070648257818003371B8/$file/SATS-OperatingData-3QFY11.pdf?openelement

Seem good all sectors positive results....

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Blastoff
Elite

13-Jan-2011 17:29

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Alert Admin SATS releases 3QFY2010/11 results on 1 February 2011

Singapore, 13 January 2011 - SATS Ltd. wishes to announce that it will be releasing its financial results for the third quarter ended 31 December 2010 on Tuesday, 1 February 2011, after market trading hours.

The financial statements and press release will be made available on SGXNET and SATS' website at: http://www.sats.com.sg/newsats/investor_relations/financial_results.html

Investor & Media Contact:
Sandy Leng
SATS Investor Relations
Tel : (65) 6541 8200
Fax : (65) 6541 8204
Email : sandy_leng @sats.com.sg

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enghou
Senior

21-Dec-2010 19:36

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Alert Admin

Phillips recommends BUY with Target Price at $3.48

Purchase price values TFK at Enterprise Value of ¥16.3bn (≈S$254mn).
EV/EBITDA of 9.4X not expensive.
Revised earnings up by 0.6%, 4.4% & 4.6% for FY11E, FY12E and FY13E respectively.
We estimate that TFK will contribute 18.4% of Group sales, which could breach the S$2bn milestone in FY12E.
Maintain Buy recommendation with revised target price of S$3.48.

Life Is Great

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Blastoff
Elite

21-Dec-2010 15:55

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Alert Admin

Think it is a matter of time before it will reach $3... Just my thoughts.

Hulumas ( Date: 21-Dec-2010 14:29) Posted:

So, >Sgd. 3.0 is imminent!

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bsiong
Supreme

21-Dec-2010 15:45

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Yells: "The Greatest Wealth is Health"

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Alert Admin

SATS off 0.4%; Earnings tweaked higher on TFK buy

WRITTEN BY DOW JONES & CO, INC

TUESDAY, 21 DECEMBER 2010 15:36

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Hulumas
Supreme

21-Dec-2010 14:29

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Yells: "INVEST but not TRADE please!"

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Alert Admin So, >Sgd. 3.0 is imminent!

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Blastoff
Elite

20-Dec-2010 15:27

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Alert Admin SATS COMPLETES ACQUISITION OF JAPAN AIRLINES INTERNATIONAL’S STAKE IN TFK CORPORATION

http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_3FAA49B5027513B8482577FF001A386C/$file/Completion-of-Acquisition-TFK-PressRelease.pdf?openelement

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bsiong
Supreme

10-Dec-2010 10:29

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Alert Admin SATS (SATS SP, $2.93, BUY, TP $3.48) – SATS’ successful bid for a controlling interest in TFK Corp, Japan’s leading airline caterer, could mark the start of more acquisitions to come. With cash so cheap, we expect the group will put its balance sheet to good use next year. It had previously narrowed down its scope of interest to the UK , Middle East and Hong Kong . Shortly after it announced the TFK deal, it incorporated an investment firm in the Middle East .

/kim eng/

/i read i post for info reading/

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enghou
Senior

02-Dec-2010 17:34

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Alert Admin Kim Eng recommend a BUY with Target Price of $3.48Strategy 2011 – Hot money will continue to flow. Interest rates will remain low. Against this backdrop, our strategy in the new year is to identify companies that are able to capitalise on their financial strength to buy growth. We pick seven daring plus-size shoppers that will justify further re-rating, not just because of their proactive pursuit of M&As and corporate restructuring, but also because of their potential to generate value for shareholders.

- Singapore Exchange (SGX SP, BUY, TP: $11.00)
- Noble Group (NOBL SP, BUY, TP: $2.58)
- Olam International (OLAM SP, BUY, TP: $3.88)
- Keppel Land (KPLD SP, BUY, TP: $5.60)
- Keppel Corp (KEP SP, BUY, TP: $12.30)
- SATS (SATS SP, BUY, TP: $3.48)

- Fraser and Neave (FNN SP, BUY, TP: $7.08)

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bsiong
Supreme

30-Nov-2010 10:35

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Alert Admin

---
	30 Nov 2010 Singapore

SATS Ltd
Quick takes - Acquiring 50.7% of TFK - by Ho Choon Seng CFA
(SATS SP / SIAT.SI, UNDERPERFORM - Maintained, S$2.86 - Tgt. S$2.35, Aviation)

SATS has announced that it is acquiring JAL's 50.7% stake in TFK, JAL's in-flight catering arm, for 7.8bn yen (or S$122m). Completion of the acquisition is expected in Dec 10. While we expect earnings accretion given current low returns from cash and low interest rates on debt, we are keeping our EPS estimates intact pending the release of valuation details (expected when the deal is completed). We continue to rate SATS an Underperform due to its rich valuations (vs. historical) and risks of competition from SIAEC in ground handling. Our target price is still S$2.35, based on 12.4x CY12 P/E (its historical mean since Mar 03). De-rating catalysts include an award of the third ground-handling licence at Changi Airport to SIAEC, in our view.

/icameireadipostedforyourinfoonlynotaninvitationtotrade/

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bsiong
Supreme

30-Nov-2010 10:30

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Alert Admin SATS, BUY S$2.86; Bloomberg: SATS SP
Price Target: S$3.13
SATS purchase JAL's 50.7% in TFK for S$122m
By: Andy Sim, CFA +65 6398 7969

· SATS acquiring 50.7% in TFK Corp for S$122m from JAL at c.1.36x P/NAV
· TFK, an inflight caterer with strong presence in Narita and Haneda
airports, serves 15m meals to >30 international airlines
· Acquisition is in line with previous call to be at other gateways
· Financial details scarce at this point, but we believe management should
have been prudent in price

SATS announced this afternoon that they have entered into an agreement to
acquire Japan Airlines International's 50.7% interest in TFK Corporation
for JPY7.8bn (S$122m).

Financial details are scarce, P/NAV c.1.36x. At this point, except for the
NAV (S$90m for 50.7%, equates to a P/NAV of 1.36x), other financial details
are scarce due to a non-disclosure agreement signed. We believe more
details could be shared after the acquisition is completed. The acquisition
is expected to be completed by Dec 2010, subject to customary closing
conditions. Upon completion, TFK will be a subsidiary of SATS. The
acquisition will be funded by internal resources and debt.

Who is TFK? TFK is a leading caterer in Japan , with a strong presence at
both Narita and Haneda airports. We understand that TFK supplies about 15m
meals annually to over 30 international airlines, including JAL and Air
France. TFK was established in 1959 by the Namaguchi family, and JAL
acquired its 50.7% stake in 2000.

In line with call to be at other gateways. The investment is in line with
the Group's stated strategy to look for suitable investment and have a
presence at gateways where its key customers are. We believe this
acquisition will further enhance the reach of its inflight catering
capabilities. At this point, it is difficult to assess the financial impact
of the acquisition as details are scarce. However, we note that management
has previously stated that no acquisition is a "must-do"; and, in our
opinion, they should have been more prudent in the acquisition price.

Maintain Buy, TP: S$3.13

//DBSV.pdf

/FYI

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bsiong
Supreme

30-Nov-2010 10:27

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Alert Admin SATS [SATS SP] - Buy : Stop-over in Japan looks potentially attractive and accretive( S$2.86 / PT: S$3.4 )
Tanuj Shori
SATS today announced the acquisition of a c.50.7% stake in TFK (the Japanese airline caterer) for c.S$122 mn. To be funded by cash, this would help SATS expand its presence in Japan , where TFK is the largest caterer at both Narita and Haneda airports. Although SATS did not reveal financial data for TFK, our research suggests an attractive valuation for the asset, which could potentially add c.5% to SATS’ EBITDA in FY12. We reaffirm our BUY recommendation on SATS and expect consensus upgrades when TFK's financials become public.

/nomura

/icameireadipostedfyi only/

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bsiong
Supreme

30-Nov-2010 09:41

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Alert Admin SATS Ltd. announced that its wholly-owned subsidiary, SATS Investments Pte Ltd, has entered into an agreement to purchase Japan Airlines International Co., Ltd’s (JALI) entire stake of 50.7% in TFK Corporation (TFK) for ¥7.8 billion (approximately S$122 million). The acquisition is targeted to complete by December 2010, subject to customary closing conditions and is not expected to have any material impact on the SATS Group’s earnings per share and net tangible assets per share for the current financial year ending 31 March 2011.

Source: SGX Masnet

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Blastoff
Elite

29-Nov-2010 14:17

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Alert Admin SATS ACQUIRES JAPAN AIRLINES INTERNATIONAL’S 50.7% EQUITY STAKE IN TFK CORPORATION FOR ¥7.8 BILLION

http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_352BFFB2D3E8F7B4482577EA001B0FD3/$file/TFK-PressRelease-FINAL.pdf?openelement

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enghou
Senior

26-Nov-2010 17:03

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Alert Admin SATS - Maintain Outperform by Credit Suisse

Rising Sun ?

The Nikkei English News on 25 November reported that Japan

Airlines Corp (JAL) is in final talks to sell its in-flight meal unit, TFK

Corp, to SATS, which was separately acknowledged by the latter

in a company press statement.

● We see this development as positive for SATS and in line with its

growth strategy to expand into regional markets. The deal, if

successful, could almost double SATS’s in-flight catering revenue

and allow it to leapfrog into the Japanese aviation market, where it

currently has no presence.

● On a standalone basis, and assuming similar profitability for TFK

versus other food companies, we estimate the deal is likely

accretive only if it was valued below Y10 bn, with TFK’s net

margins exceeding 5%. Valuations could be more attractive with

potential revenue and scale synergies over the medium term.

● We maintain that SATS remains a key beneficiary of the Asian

tourism theme. Valuation at 15x FY11E P/E, on 5-6% dividend

yield and three-year average 6.0% FCF yield, is undemanding, in

our view. Our DCF-based target price is S$3.40; maintain

OUTPERFORM.

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bsiong
Supreme

26-Nov-2010 13:46

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Alert Admin SATS Ltd.

said that newswire reports cited that Japan Airlines International Co., Ltd (“JALI”) is finalising its sale of its in-flight meal unit, TFK Corporation (“TFK”) to

SATS. SATS is currently in advanced discussions with Enterprise Turnaround Initiative Corporation/JALI in connection with the acquisition of JALI’s

stake in TFK. However, no definitive agreement has yet been reached and the transaction may require regulatory, legal and other relevant approvals and conditions.

Accordingly, shareholders are advised to refrain from taking any action, which may be prejudicial to their interests, and to exercise caution

when dealing in the shares of the Company.

Source: SGX Masnet

/i came i read i posted fyi only/////////////////////

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Blastoff
Elite

25-Nov-2010 16:47

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Alert Admin Holding Announcement

http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_9374C4FA34F71A20482577E6001A69A3/$file/SATS-Statement.pdf?openelement

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blueheat
Member

04-Nov-2010 10:35

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Alert Admin this stock looks good leh but how come like low volume counter? any thoughts?

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Richman
Veteran

03-Nov-2010 09:45

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Alert Admin Went in at 2.88 x 10. Good stock to go long.

Dividend 13 cents per year.

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