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Keep holding.
kalpeshtejani ( Date: 29-Mar-2010 11:02) Posted:
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HO BEE TP 2.02 by Philips securities maintains HOLD rating....Stock really moving sideways...is it a sign of next upmove? response appreciated. thanks
+6 cents (^_^ ) (^_^ ) (^_^ )
Ho Bee's FY10 Looking Good; TP raised to S$2.23
At a Glance
• Records smashed all-round: PATMI of S$337m above expectations on record S$1.16bn revenue.
• Gearing down to 0.2x; book NAV +36% yoy to S$1.63 per share
• Seascape on Sentosa to be launched this quarter
• Raised FY10 –11 earnings by 66-16%
• BUY, TP raised to S$2.23 for 29% upside
Strong Balance Sheet. Ho Bee has staged a swift and remarkable
yoy strengthening of its balance sheet, due to the TOP of five
projects in FY09 with barely an incident of buyer default. Its book
value increased 36% yoy to S$1.63/share, as gearing improved
from 1.3x to 0.2x.
FY10 Looking Good. Looking ahead, FY10 earnings continue to
look strong as Ho Bee guided earlier-than-expected completions of
Turquoise, Dakota Residences and The Orange Grove in FY10. We
adjust our revenue recognition schedule accordingly and raise
FY10/11 earnings by 66% and 16% respectively.
BUY, TP S$2.23. We feel that the catalysts are strong for Ho Bee –
with real estate on Sentosa expected to garner renewed interest
post-IR opening and as it looks offshore for its new growth driver.
Reiterate BUY, with TP of S$2.23 based on a 15% discount to
RNAV of S$2.62 (prev S$2.35). Our RNAV is increased on higher
ASP assumptions for Sentosa (S$2,900 psf for Seascape) and
better-than-expected ASPs achieved at Trilight (S$1,650 psf) and
Parvis (S$1,500 psf).
DBS 17Feb'10
tradersgx ( Date: 12-Feb-2010 15:08) Posted:
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HO BEE INVESTMENT LTD
CONSOLIDATED INCOME STATEMENT For The Fourth Quarter And The Full Year Ended 31st December 2009
S$'000
Revenue 1,159,250 +283.8% yoy
Net profit for the period/year 360,936 +261.0% yoy
( ^_^) ( ^_^)( ^_^)
http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_12C3EA9ADDB950DC482576C800150A76/$file/HoBee_FSAnnouncementFY2009.pdf?openelement
seems like the property counters are affected and dragged by HPL large drop...even Ho Bee is affected with 3.85% drop today alone in the very late hours
Seem Ho Bee (not vested) is more interesting than Allgreen (vested) --
Morning Note from PhilipCapital - Yanlord Land Group Limited together with Ho Bee Investment Limited jointly announced that they have through their joint venture company in Singapore signed a MOU with Tangshan Nanhu Eco-city Adminstrative Committee during the Tangshan Caofeidian Economic Trade Forum to explore joint investment and development of high-end residential development within the Nanhu Eco-city. This project is supported by IE Singapore, Singapore's lead agency promoting the overseas growth of Singapore-based enterprises & international trade.
By the way, how many eco-city is China building? Thought theres' one in Tianjin & investted by Keppel?
1 October 2009
https://www.ura.gov.sg/pr/text/2009/pr09-67.html
URA releases flash 3rd quarter 2009 private residential property price index
The Urban Redevelopment Authority (URA) released today the flash estimate of the
price index of private residential property for 3rd Quarter 2009.
Based on the estimated price index of private residential property, prices rose
from 133.3 points in the 2nd Quarter 2009 to 154.5 points in the 3rd Quarter 2009.
This represents an increase of 15.9%, compared with the 4.7% decline in the p
revious quarter (see Annex A).
URA also released today the flash estimates of the price changes in the 3 geographical
regions for 3rd Quarter 2009. Prices of non-landed private residential properties
increased by 16.2% in Core Central Region, 19.1% in Rest of Central Region and 15.4%
in Outside Central Region in the quarter (see Annex B). In comparison, for 2nd Quarter 2009,
prices of non-landed private residential properties decreased by 5.2% in Core Central Region,
4.4% in Rest of Central Region and 2.3% in Outside Central Region.
The flash estimates are compiled based on transaction prices given in caveats lodged during
the first ten weeks of the quarter supplemented by information on the number of new units sold.
The statistics will be updated 4 weeks later when URA releases the full 3rd Quarter 2009 real
estate statistics, when more data on the caveats lodged and the take-up of new projects are
captured. Past data have shown that there could be significant differences between the quarterly
price changes indicated by the flash estimate and the actual price changes. The public is
advised to interpret the flash estimates with caution.
URA will continue to release relevant price sensitive information in a timely manner to allow
the public to make informed decisions. On the supply side, the statistics on private residential
units in the pipeline, which were last released in April 2009, will be updated in the 3rd Quarter
2009 Real Estate Statistics to be released on 23 October 2009.
CIMB 29 September 2009
Singapore Strategy
Positive implications for Property and Banks
According to SingStat, Singapore's population is now 5.0m. A rising population is a big
positive for Singapore. The latest population census provides further impetus to our
increasingly bullish position on property stocks. The addition of more than 55k PRs
and foreigners in a recession flags a core demand of 15.7k residential units p.a.,
assuming 3.5 to a household. Foreigners could add more to demand. This compares
well with the forecast completed supply of 5,400 residential units in 2010, 12,900 units
in 2011 and 13,800 in 2012. Growing core demand for property could explain the
healthy transaction volumes in the private residential market over 2Q/3Q09, as well as
buyers’ willingness to pay high cash-over-valuations for HDB flats and rising rentals.
While recent government measures aimed at curbing excessive property price
appreciation could dampen share prices, we take the view that they cannot override
the fundamental drivers of population growth and low interest rates. Banks would also
benefit from higher loan volumes if healthy transaction volumes continue. We maintain
our 3,200 end-CY10 FSSTI target, based on 15x CY11 P/E.
Our top picks among the banks and property stocks are Allgreen, City Developments,
Ho Bee, UOL and UOB. A rising population is a big positive for Singapore. This set of
data provides further impetus to our increasingly bullish position on property stocks.
The addition of more than 100k PRs and foreigners in a recession flags a core demand
of 20k residential units p.a.,assuming four to a household. This compares well with
the forecast completed supply of 5,400 residential units in 2010, 12,900 units in 2011
and 13,800 in 2012. Growing core demand for property could explain the healthy
transaction volumes in the private residential market over 2Q/3Q09, as well as
buyers’ willingness to pay high cash-overvaluations for HDB flats and rising rentals.
While recent government measures aimed at curbing excessive property price appreciation
could dampen share prices, we take the view that they cannot override the fundamental
drivers of population growth and low interest rates. Banks would also benefit from
higher loan volumes if healthy transaction volumes continue, although we note that
system loans are currently supported by just a single pillar – mortgages – as business
loans contract. Also, as confidence improves, competition for loans will bring down
loan spreads and douse the positives from the volume front. We maintain our 3,200
end-CY10 FSSTI target,
based on 15x CY11 P/E.
The market has already spoken...Bee dived Lord rised in short, both will cheong in long. Shanghai property is gonna be more expensive than Sillypore. Lord of the Hobee will make more YYY
maxcty ( Date: 26-Sep-2009 00:51) Posted:
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so which one will rise more..Ho Bee or Yanlord?
Ha ha ha "The Business Times" make mistake!
http://www.businesstimes.com.sg/sub/latest/story/0,4574,351935,00.html?
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Singapore
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September 25, 2009, 5.38 pm (Singapore time)  |
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Ho Bee, Yanlord in China property joint venture
By UMA SHANKARI
Property groups Ho Bee Investment and Yanlord Land Group on Friday said that they had sent up a joint venture company in China. Ho Bee will hold a 80 per cent stake in the JV company, Yanlord Ho Bee Investments Pte Ltd. Yanlord will hold the remaining 20 per cent stake. The JV company will undertake a feasibility study on a property development project in China. It has an initial issued share capital of US$100,000. |
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http://yanlord.listedcompany.com/newsroom/20090925_171856_Z25_607A9E28575530634825763C002D6867.1.pdf
50% 50% JV not 80%-20% JV right? Where u get ur info? Anyhow hantam?
yipyip ( Date: 25-Sep-2009 23:16) Posted:
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Sept 25, 2009, (BT)
Ho Bee, Yanlord in China property joint venture
Property groups Ho Bee Investment and Yanlord Land Group on Friday said that they had sent up
a joint venture company in China.
Ho Bee will hold a 80 per cent stake in the JV company, Yanlord Ho Bee Investments Pte Ltd.
Yanlord will hold the remaining 20 per cent stake.
The JV company will undertake a feasibility study on a property development project in China.
It has an initial issued share capital of US$100,000.
The measures imposed were to cool down property price.If these dun work, would more restriction and taxes in the pipeline.
Singapore property: Values to emerge as share prices correct
15 September 2009
CIMB-GK Securities in a “quick take” report today on the government’s anti-speculative measures said “We are of the
view that these cooling measures will eventually have a positive impact on the sector in the longer term by facilitating a
property recovery backed by more genuine demand. The broader environment characterised by ample liquidity, low interest
rates and strong household balance sheets remains intact. At this juncture, we do not expect the government to introduce
further demand-side measures (e.g. capital gains tax and/or limiting loan-to-value ratios offered by banks).”......
“We retain our positive views on CityDev and Ho Bee with unchanged target prices of S$11.76 (20% premium to RNAV)
and S$1.59 (parity to RNAV) respectively. The former has been very aggressive in the past year in pushing out property
launches to very favourable take-up rates. Forward cash flows are expected to remain solid."...............
Longer-term, the broad property drivers are intact, said the broker....
Moving up....power up +0.060 now!
+$0.06 Wow!
how high can this counter goes to?
+$0.04 now..