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Tomorrow is the AGM. Anyone going to ask for more dividends? haha...
Sorry, should read 'back of envelope' calculation for FY09 forecast.
Market is a big yawn so got time to do some 'back of the envelope' calculations for FY07 forecast.
In FY08 commentary, STL said that the Auckland Stamford Residences is expected to 'TOP' in Oct 08....i.e 3Q09 and to date 70% has been pre sold.
Total of 150 apartments are being built...total development area 19,696sqm...(say 19,700 sqm)
Prices start from NZ$460k and size from 55sqm. => NZ$8,363 psm.....lets assume average SP is NZ$7,000 psm.
Other assumptions....
Construction cost - NZ$ 4,000 psm.
A&P, financing cost - NZ$1,000 psm.
NPBT - 7000 - 4000 - 1000 = NZ$2,000 psm.
Total NPBT - 19,700 x 2,000 = NZ$ 39.4m
Say, for FY09, 80% of the units are sold., convert to NZ$:S$ @ 1.12:1.00
FY09 NPBT - 39.4 x 0.8 x 1.12 = S$ 35.3m.
Add Hotel Management NPBT of S$24m (rough extrapolation from FY08 figures),
Forecast NPBT for FY09 will be approx S$ 59.3m.
EPS (NPBT) = 6.86 cts....
Can we expect 5.5 to 6.0 c divvy in FY09?
I consider the assumptions used are quite conservative.
lausk22 ( Date: 01-Jun-2008 23:53) Posted:
shplayer,
If the chickens are waiting to be hatched, then perhaps we can also benefit from the opportunties of trading the unhatched eggs, as their prices move up and down until the chickens are delivered...  |
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shplayer,
If the chickens are waiting to be hatched, then perhaps we can also benefit from the opportunties of trading the unhatched eggs, as their prices move up and down until the chickens are delivered...
Champagne is already in the chiller. 
But will really celebrate when Mr Ow realise the value of this asset.
Anyway....as the saying goes.....Don't 
count the chickens before they are hatched.
lausk22 ( Date: 31-May-2008 22:15) Posted:
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Yes. Hope we can celebrate together next week
shplayer ( Date: 31-May-2008 12:23) Posted:
| Pushed up to 71c (from 69c) on pre close trade on vol of 931 lots (32% of total trade)....a precursor for next week's trading? |
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Traditionally AGM is towards end July. 2007 AGM was held on 30 July. You should receive AR 3-4 weeks before AGM.
Eagerly waiting for it?
chinton86 ( Date: 31-May-2008 20:00) Posted:
| When will the annual report and Annual Meeting? |
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Yes. Hope we can celebrate together next week
shplayer ( Date: 31-May-2008 12:23) Posted:
| Pushed up to 71c (from 69c) on pre close trade on vol of 931 lots (32% of total trade)....a precursor for next week's trading? |
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When will the annual report and Annual Meeting?
Pushed up to 71c (from 69c) on pre close trade on vol of 931 lots (32% of total trade)....a precursor for next week's trading?
Hotel numbers growth look very strong. Next FY should be a bumper year for profits once TOP is attained for 1 or 2 developments with continued hotel growth. A Bonus in the next 2 years will be a sale of the hotels & with all these property sales coming in, company could be a cash company. That's possibly the investible theme for stamford land.
Was going thru the results too fast and one line slipped my attention. 
4Q and FY08 bottomline was boosted by $14.8m deferred tax credit.
4Q net profit was generally inline with expectation.
Final and Special div of 2.5c is better than expectation.....making FY08 divvy of 4.0c.
shplayer ( Date: 30-May-2008 00:19) Posted:
lausk22,
4Q08 result improvement is without the benefit of property development revenues and profit. i.e it was purely due to hotel operations and perhaps a little ($1.3m?) due to the aborted takeover deal.
Watch out for 3Q09 results....where it will be boosted by the recognition of revenues and profit of the Auckland Stamford Residences in Oct 2008.
Good that you accumulated more earlier today when prices were weak.
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lausk22,
4Q08 result improvement is without the benefit of property development revenues and profit. i.e it was purely due to hotel operations and perhaps a little ($1.3m?) due to the aborted takeover deal.
Watch out for 3Q09 results....where it will be boosted by the recognition of revenues and profit of the Auckland Stamford Residences in Oct 2008.
Good that you accumulated more earlier today when prices were weak.
Thanks shplayer for the good news. Just loaded up this afternoon when I thought the price was right. Hope I have made a good deal.
shplayer ( Date: 29-May-2008 18:47) Posted:
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Fantastic FY08 results. eps 4.97c (3Q08 eps was 2.53c)......i.e 4Q08 eps was almost equal to total of the past 3Q (9 mths) eps.
Final Div 1.5c, Sp Div 1.0 c....total FY08 div - 4.0c....making yield 5.97% (today's close 67c)
NAV 51c
http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_ADC045D0C79333614825745800396D2B/$file/SLCannoucement.pdf?openelement
shplayer ( Date: 09-May-2008 09:20) Posted:
Steady as it goes.......every week or so it makes a sporadic push upwards.
Note.....FY08 (YE 31 Mar 08) results due on 29 May.
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heard of the friday effect? Stamford ...chiong ar...
strong finish last Friday.... upward thrend still intact
Steady as it goes.......every week or so it makes a sporadic push upwards.
Note.....FY08 (YE 31 Mar 08) results due on 29 May.
still can go up abit, need expert in cal in fibonacci or look out for the gap, be cautious
Head north u look at blue chips... hmmmm....
www.bear-analysis.blogspot.com
Just my view, not important.
Green8 ( Date: 21-Apr-2008 11:02) Posted:
| SGX is heading north. Good news. Perhaps may consider blue chips... trade with your own risk. bank stock o see
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