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Downtrending. Cheap will get cheaper.
newcoming ( Date: 27-Nov-2013 19:44) Posted:
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has already dropped to 990.
time to pickup?
time to pickup?
CDL raises red flags on private housing market
Group posts 10.4% fall in Q3 earnings revenue dips 1.2% to $822.7m
CDL), which posted a 10.4 per cent year-on-year drop in third-quarter net earnings to $120.6 million yesterday, has raised some red flags on the Singapore private residential property market.
CDL pointed out that while developers are starting to cut their prices in existing and new projects, willing to take lower profit margins, land prices on the other hand are continuing to escalate.
At state tenders, non-traditional developers, especially foreign construction companies, are entering the arena, bidding aggressively to secure land, while sacrificing their profit margins on construction.
" As a result, many developers have formed joint ventures to bid for land and noticeably, successful bid prices between sites can vary widely, reflective of the lack of land stock in trade. This is a very potent trend that may affect the industry in the medium to long run and the group is hopeful that the government will study this carefully," said CDL's executive chairman Kwek Leng Beng.
CDL pointed out that while developers are starting to cut their prices in existing and new projects, willing to take lower profit margins, land prices on the other hand are continuing to escalate.
At state tenders, non-traditional developers, especially foreign construction companies, are entering the arena, bidding aggressively to secure land, while sacrificing their profit margins on construction.
" As a result, many developers have formed joint ventures to bid for land and noticeably, successful bid prices between sites can vary widely, reflective of the lack of land stock in trade. This is a very potent trend that may affect the industry in the medium to long run and the group is hopeful that the government will study this carefully," said CDL's executive chairman Kwek Leng Beng.
City Development is trading in a Descending Triangle now. Watch out for reversal pattern.
http://mystocksinvesting.com/singapore-stocks/city-development/city-development-descending-triangle/
Any idea what happened to CD today?
Keep dropping!
any news / update on the REITs ?
11.65.. looking gd..
gd luck dyodd
on the verge of a breakout after consolidation..
above 11.5 on HIGH vol confirms the breakout..
gd luck dyodd
Consensus recommendation
As of Apr 26, 2013, the consensus forecast amongst 22 polled investment analysts covering City Developments Limited advises that the company will underperform the market. This has been the consensus forecast since the sentiment of investment analysts deteriorated on Jan 08, 2012. The previous consensus forecast advised investors to hold their position in City Developments Limited.
[Link: Financial Times]
Kim Eng Reserach:
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| Singapore Land - Narrowing the Valuation Gap (Hold TP $9.60) SingLand’s 1Q13 core PATMI of SGD49.6m (-11% YoY, -17% QoQ) was in line with expectations. Rental income dipped by 4% QoQ as the office leasing landscape remained competitive, and we expect downside pressure on office rents to persist. To ensure that Marina Square Shopping Mall remains competitive, plans for a new 200,000 sq ft retail wing was recently announced, which will be completed in 4Q14 at a cost of SGD80m. We estimate a 4 cts/share RNAV accretion from this exercise. We raise our target price to SGD9.60, pegged to a 25% discount to RNAV. In our view, a privatization by the substantial shareholders UIC at SingLand’s current PBR of 0.73x is unlikely. Downgrade to HOLD. |
Tys5115 ( Date: 03-May-2013 08:58) Posted:
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My opinions:
FNN is controlled by Mr. Charoen. He needs to drive FNN towards better business. Nobody really knows what is up his sleeve, haha.
FNN is no longer the blue chits that many ppl like to invest. In those days at $6 -7 it a good upside. Right now, it is near the upside and has limited up room. It needs BB to push the price up. At this moment not much institutional interest.
SMM at today price 4.23 - 4.25 (well supported) is a good entry for long. SMM is influenced by mkt sentiments and economy, just like NOBLE.
SCI is also good consideration at this current price, very well supported at 4.9. It has a wider portolio and has the potential to hit 5.8 and hopefully towards 6.00.
SP Land has rich valuation just like CityDev. SP land may have limited upside ...
You can also look at Banks when they undergo mkt / price correction. They have good dividends and everyone is rich in cash.
Tys5115 ( Date: 03-May-2013 08:58) Posted:
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HI Cheerstan
Thanks for yr reply below. Will take note. Wat yr take on FNN, SP Land & SembMar.
In all the recent vol, although low, but it has strength to move hitting 11.4
Co profit is very good despite cooling measure.
This counter need to observe closely within a day the fluctuation is wide.
If one can catch the high and low, it is a good day trade counter esp those who has rich disposal at hand.
Thanks for seeing my post, will update more if good info.
BTW, I am in VARD, strong reversal yesterday ... good counter to have for long .... cheers
Hi Cheerstan and Marubozu - haven't seen any posting from you guys lately on CDL. Vol for this counter has been quite low past few sessions.
City Dev Rebound at the Uptrend support!
http://mystocksinvesting.com/singapore-stocks/city-development/city-development-rebound/
Turn into toilet paper:)
cheerstan2002 ( Date: 30-Jan-2013 13:07) Posted:
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Yes, last few days was a confirmation of a reversal ... support at 11.2 and then chiong chiong all the way to now ...
Will close the frist gap soon and will aim to break the rsistance at 12 and then move toward 12.8 and then 13.2 rather quickly looking at the history ..
The government white paper of population growth will bring much good news to those property stocks that have gapped down on the 14th jan 2013 ...
Cheers
Citi Private Bank is recommending property stocks as an alternative to physical real estate as the shares have been beaten down after the Singapore government introduced measures to cool the city-state's housing market.
Singapore and Hong Kong tend to attract flows and property is a favourite investment in both cities, said John Woods, Citi Private Bank's managing director and chief investment officer for Asia Pacific, told reporters on Thursday.
Earlier this month, the Singapore government imposed a higher stamp duty on foreign buyers, a new levy on sellers of industrial property and a limit on loan sizes, sending property counters tumbling.
" Property stocks have been unduly or unfairly penalized on the impact of physical markets," Woods said, declining to name specific stocks citing compliance reasons.
Property stocks in Singapore include CapitaLand Ltd , Keppel Land Ltd, City Developments Ltd , Hongkong Land Holdings Ltd and Wing Tai Holdings Ltd.
Donald Chua, an analyst at CIMB Research, said big-cap property developers in Singapore traded at an average discount to the revised net asset value of 10-20 percent, while the figure for small to mid caps was 25-40 percent.
Bullish Hammer Reversal Signal, today 28th jan good buying volume and good news from Abeerdeen buying CityDev at 11.27 and incresing its stake ....
Close with 11.34 and good buying vol ... Good keep a close watch which will come soon to close the first gap window ...
OCBC Research City Developments Limited:
Hit by latest cooling measures Summary: We believe that City Developments (CDL) would be unfavorably affected by the most comprehensive set of property cooling measures implemented by Singapore authorities since Sep 2009.
The latest private residential curbs, consisting of more ABSDs, tighter LTVs and higher cash down-payments, are amongst the most onerous seen thus far, and would likely crimp residential buyer demand significantly.
Though CDL management continues to execute well on its residential strategy, we expect headwinds for the group ahead as these measures affect demand fundamentals meaningfully.
We downgrade CDL to HOLD with a lower fair value estimate of S$13.01 (15% RNAV disc.), versus S$14.05 previously, as we raise the RNAV discount and incorporate lower ASPs into our model to reflect softer sector fundamentals after the latest measures. (Eli Lee)