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1001-1020 of 2173
According to DBS Vickers their target price is $2.44 or 25% discount to RNAV. I wonder how they got this price target.
Shouldn't the price be going up instead.
dealer0168 ( Date: 23-Oct-2009 10:23) Posted:
By this rate, we may see a $3 Kepland next week.
Cheers.
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By this rate, we may see a $3 Kepland next week.
Cheers.
CIMB TP $3.49. vs Kim Eng TP$3.28 & RNAV $3.64 (22 Oct) - Ride it out to >$3 then let go!
Maintain Outperform; results above.
Attractive valuations against its underlying assets and a strong capital structure continue to underpin our Outperform rating. We raise our FY09 core EPS by 26% but lower our FY10-11 numbers by 2-17% as we front-load our project recognition schedule.
We keep our end-CY10 RNAV and target price of S$3.49. 3Q09 core net profit of S$79m was above our expectation though in line with consensus, forming 41% and 25% of our full-year forecast and the Street’s respectively. The variance came from earlier recognition of presold projects. 9M09 core net profit of S$169m forms 88% of our full-year forecast.
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Improvements in all segments; 3Q09 presales yet to be booked. 3Q09 revenue grew 23% yoy to S$228m as all segments improved. While residential sales grew 16% yoy to S$164m on earlier recognition, strong sales in 3Q09 both overseas (The Botanica in Chengdu and Central Park in Wuxi) and locally (Reflections, Madison Residences and Caribbean) have yet to be booked. KepLand is making headway in China with 2,350 units sold YTD. Revenue from investment property and fund management also surprised, up 9% and 8% qoq to S$19m and S$10m respectively.
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Stronger balance sheet, positive operating cash flow. Net gearing in 3Q09 declined qoq to 0.19x, boosted by strong operating cash flows from property sales. The ratio could decline further if its commercial properties under development are revalued upwards in 4Q09. An expected drain of S$290m from its commitment to KREIT’s recent cash call should be easily met. A strong balance sheet also puts KepLand in a position to replenish its domestic inventory.
hope later Mr Dow perform, than we see our $3 Kepland sooooooooon
No deep pocket to buy condo or property, invest in Kepland is just as sweet
Hulumas ( Date: 22-Oct-2009 09:56) Posted:
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80% price in?
Can hit >$3 soon !
Morning Bulletin 22 October 2009 - Kim Eng
Top Ideas
1) Keppel Land – 3Q09 Results (Wilson LIEW, DID: 64321454)
Recommendation: BUY (maintained)
Target price: $3.28 (upgraded from $3.19)
Stronger-than-expected 3Q earnings
China accounted for 21.3% of 3Q09 PATMI
Building on the sales momentum gathered in 2Q09, KepLand further sold about 900 units in 3Q09 in China, mainly in Chengdu and Wuxi, bringing the total units sold there to-date to 2,350. The sale of units elsewhere is also brisk, particularly in Vietnam and Jakarta. Overall, overseas markets accounted for 31.2% of KepLand’s 3Q09 PATMI.
Encouraging take-up for Singapore residential projects
Capitalising on renewed interest in mid-end properties, KepLand has launched and sold more than 80% of the 56-unit Madison Residences, achieving a median price of $1686 psf, exceeding our ASP assumption of $1500 psf. 7 units of the Promont (total 15 units) have also been sold at a median price of $1857 psf. We have correspondingly lowered our ASP assumption for the Promont to $1900 psf from $2000 psf.
New pre-leasing commitments at MBFC and OFC
KepLand named Servcorp as the latest tenant to sign up for 22,000 sq ft of space at MBFC Tower 2, bringing the pre-commitment level of Phase 1 (1.6m sq ft in total) to 67%. In addition, the Group also revealed that 50,000 sq ft of space has been pre-committed at the Ocean Financial Centre. While we think it’s still too early to be optimistic about the office sector, these pre-leasing announcements are quite encouraging after over half a year of stalemate.
Geographic diversification paying off, maintain BUY
Besides renewed sales activity in Singapore, KepLand could benefit from robust sales in China and Vietnam going into 2010. We have raised our FY09-10 forecasts by 22.6% and 15.5% respectively. Maintain our BUY recommendation at a new target price of $3.28, pegged at a 10%-discount to FY10 RNAV of $3.64.
KepLand announced a very strong 3Q09 PATMI of $78.5m, beating expectations. This is primarily due to better-than-expected associated profits, mainly from projects such as the Marina Bay Residences, Reflections at Keppel Bay and The Botanica in Chengdu. This brings year-to-date PATMI to $173.6m – about 85% of full-year consensus estimates.
Previous Day Closing price: $2.72
Business Times - 21 Oct 2009
Kep Land optimistic about property recovery
By UMA SHANKARI
Keppel Land, which saw economic recovery and improved market sentiment increase Q3 profit by 70 per cent year-on-year, is optimistic about the outlook for Singapore's residential and office markets.
Earnings for the three months ended September 30, 2009 rose to $78.5 million, from $46.2 million a year ago. Revenue rose 23 per cent to $227.8 million from $185.8 million.
In Singapore, 'the low interest rate environment and greater optimism about the economy and job market have continued to improve the market sentiments driving the housing market', Keppel Land said in a statement on Wednesday.
The group is also optimistic about its prospects in overseas markets.
'Key Asian markets continued to gain momentum in the third quarter as market sentiments strengthened amid further signs of economic recovery,' the company said.
Looking ahead, Keppel Land said that with a strengthened balance sheet after its rights issue raised proceeds of about $700 million, the company is well-positioned to grow through acquisitions. The group's fund management vehicles K-Reit Asia and Alpha Investment Partners are also pursuing opportunities for growth as they ride on the region's economic recovery.
Couldn't agree more. It gave me 100% profits when I sold them in Aug.
I bought a bit, 20 lots when it corrected recently.
ozone2002 ( Date: 21-Oct-2009 18:51) Posted:
finally this "toyota" (i was advocating a buy @ $1+) is showing its BMW status ($3 and above)
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finally this "toyota" (i was advocating a buy @ $1+) is showing its BMW status ($3 and above)
:)
North side... star of tomorrow ! huat la
Definately a good result
| Keppel Land 3Q net rises 70% to $78.5m |
| Written by The Edge |
| Wednesday, 21 October 2009 18:35 |
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Keppel Land, the property developer partly owned by the world’s largest builder of oil rigs, said third-quarter net income rose 70% to $78.5 million as property markets across Asia strengthened amid signs of economic recovery.
Capitalising on demand for mid- and higher-end homes, Keppel Land launched Madison Residences and Caribben Residences as well as soft-launched The Promont in 3Q, all of which it says enjpyed strong takeup.
More than 80% of the 56 units at Madison Residences and 92% of the 118 launched units at Caribbean Residences were sold. Half of the Promont have also been taken up, while another 23 units were sold at Reflections at Keppel Bay during the quarter.
Keppel Land also says buying sentiments in key Asian markets strengthened as economies recover. It sold more than 2,600 homes overseas by end-September 2009, mostly in China.
In Vietnam, The Estella in Ho Chi Minh City has since sold about 63 units in the third quarter 2009. The groups says it plans to launch Riviera Cove, a 96-unit villa development in Ho Chi Minh by end of this year.
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Business Times - 21 Oct 2009
Keppel Land Q3 net profit climbs 70%
By UMA SHANKARI
Keppel Land on Wednesday said that Q3 net profit rose 70 per cent to $78.5 million, from $46.2 million a year ago as it booked more revenue from its projects and also saw greater contributions from its associated companies.
Revenue climbed 23 per cent to $227.8 million from $185.8 million in Q3 2008. The increase was due mainly to progressive revenue recognition from a fully sold project in Singapore, The Sixth Avenue Residences, which obtained its temporary occupancy permit in August 2009. Higher revenue was also recognised for The Estella in Ho Chi Minh City and several projects in China, namely The Arcadia and Serenity Cove in Tianjin, Stamford City in Jiangyin and Villa Riviera in Shanghai.
In addition, a new revenue stream from Jakarta Garden City in Indonesia, which was launched in December 2008, continued to flow in the current quarter. Also contributing to the improvement in revenue was higher revenue achieved by the group's investment properties in Singapore and Vietnam, fund management operations, and property services segment.
Copyright © 2007 Singapore Press Holdings Ltd. All rights reserved.
Good result just released:
http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_FB187E120A486492482576560036476B/$file/UnauditedResultsfortheNineMonthsended30Sep2009.pdf?openelement
Positive action tomorrow?
Tomorrow result out loh.........
Hope is GOOD one. Than $3 may be coming soon.
Cheers.
sweet ! hope its a gd result
Good results may see it cheong above $3.
Cheers.
Watch out, Kepland results out s
n:
Notice of Dates for Keppel Group's Third Quarter 2009 Financial Results
The Keppel Group of Companies is pleased to announce its third quarter 2009 financial results on the following dates:
- K-REIT Asia on 13 Oct 2009
- Keppel Telecommunications & Transportation Ltd on 19 Oct 2009
- Keppel Land Limited on 21 Oct 2009
- Keppel Corporation Limited on 22 Oct 2009
Next week results for Kepland maybe a good one as well. As reports saying that Sep09 property sale is good as well.
Temasek units raise stake in Keppel Land
By The Edge
Temasek Holdings, the Singapore government-owned investment company, was involved in a
couple of transactions through its subsidiaries, according to SGX filings last week. On Oct 1,
the company acquired 715,013 shares of Keppel Land through its indirect wholly owned subsidiary
Fullerton Management and DBS Group Holdings. The purchase of the shares raised its deemed
stake in Keppel Land to 52.9%, based on the company’s issued share capital of 1.41 billion shares
as at Oct 1.
More than a week ago, Keppel Land, partly owned by Keppel Corp, the world’s No 1 oil-rig maker,
announced that it had issued 8.7 million new shares in connection with the proposed voluntary
delisting of China-based property developer Evergro Properties. Keppel Land, which had an 85.4%
stake in Evergro, says the delisting will help the company streamline its growth strategy in China.
