LKH Sp   

Low Keng Huat Sp

Still downtrending... beware

 

this one dont seem to move leh.....

 

Read this week "THE EDGE", that will give you more clue.  Check the  PER, and I am confident that LKH will go higher. 

Comments ?

 

My interpretation: Property stocks (mid & small cap) could still move up another 30% .....

Published November 22, 2006

S'pore property market not overheating, says Mah More private developers to be allowed to build, sell public homes Email this article Print article Feedback (SINGAPORE) Minister for National Development Mah Bow Tan said he saw no signs of the property market overheating as price gains were still largely confined to the high-end luxury segment and these were underpinned by robust economic growth. (SINGAPORE) Minister for National Development Mah Bow Tan said he saw no signs of the property market overheating as price gains were still largely confined to the high-end luxury segment and these were underpinned by robust economic growth. 'The people buying are not borrowing excessively so there is no strain on the banks. These are chaps who have confidence in the economy and the future,' he said. Mr Mah also poured cold water on market speculation that the country's public housing body would divest its commercial assets into a real estate investment trust or Reit, as rival financial centre Hong Kong has done. 'We are in no hurry as there are no compelling economic reasons.' On public housing, Mr Mah said he expects the resale prices of public homes to rise as the property market improves, but sees no signs of overheating as price gains were still largely confined to the high-end segment. Singapore will allow more private-sector developers to build and sell state-subsidised homes, Mr Mah told Reuters in an interview. Mr Mah, who also oversees urban planning in the city-state, said more private firms would be invited next year to build residential projects that qualify for government subsidies. 'We don't want to have a property market dominated by the government. We are trying to move out of things that the private sector can do.' The first such development - by listed developer and builder Sim Lian Group - was subscribed 10 times when it was launched last month. Singapore real estate prices, which lagged the Hong Kong property market for years, began to pick up after July 2005 when the government eased rules on property financing and purchases by foreign investors. While an index of private-sector property prices is still 30 per cent below its 1996 peak, some upscale properties are now fetching prices last seen before the 1997-98 Asian financial crisis. - Reuters

 

Last minute married deal @1.26 pull down LKHSp closing price, otherwise PM trades were quite steady.

Time	Last	Volume	Buy/Sell
17:05:04	1.260	24,000	X
16:54:48	1.280	5,000	Buy Up
16:53:28	1.270	2,000	Sell Down
16:32:37	1.270	5,000	Sell Down
15:53:48	1.280	3,000	Sell Down
15:51:43	1.280	2,000	Sell Down
15:38:35	1.280	10,000	Sell Down
15:10:46	1.280	20,000	Sell Down
14:44:51	1.290	10,000	Buy Up
14:27:57	1.290	10,000	Buy Up
14:15:23	1.280	1,000	Sell Down

 

For your reading pleasure.

Morning Buzz Singapore

21 November 2006

Kim Eng Research Team

US Indices (Previous Session)

News Headlines

�� Investors benefit as firms rush to use up tax credits

Singapore - Retail investors are emerging as the big winners as a growing

number of listed companies in Singapore adopt an innovative method of

distributing millions of dollars of unused tax credits. Pressure to use up the credits

is mounting, with a Dec 31, 2007 deadline just over a year away. These so-called

Section 44 tax credits, held by various firms, are a relic of the old tax system that

applies to dividends. Many shareholders, especially small investors, stand to

pocket a tax windfall as firms use up the tax credits by handing out generous

dividends. In what has now emerged as a major trend, OCBC Bank pioneered a

technique that helps some companies overcome a tricky dilemma: using the

credits without running cash reserves too low. In May last year, the bank handed

out a generous dividend - and gave shareholders the option of using the money to

buy one new share for every five held at an attractive price. As the rights shares

were overwhelmingly taken up, no net cash outflow from OCBC was required. In

just over a year, nearly a dozen companies have followed OCBC's lead and more

are expected to follow. Companies such as Singapore Press Holdings and

Robinson & Co have used up all their Section 44 tax credits to shareholders. But

some do not have large cash piles available for such payouts or do not want to

deplete their cash. Firms such as property player Bukit Sembawang Estates have

jumped on to the bandwagon. Hotel Royal, Singapore Reinsurance, engineering

and property investment firm Guthrie GTS and sports and leisure group

SuperBowl all took similar action earlier this year. Hiap Seng Engineering's shares

shot up to their highest level in almost three years in September after the firm

announced a bumper bonus dividend of a net eight cents per share and a rights

issue. Next was HupSteel, which asked shareholders to subscribe to its rights

issue using the bonus dividend by this week. This month, another two firms -

Allgreen Properties and oil and gas support firm Rotary Engineering - have

unveiled similar plans. City Developments and United Overseas Bank are among

the companies with unused tax credits.

Singapore 038989

Tel: +65 6336 9090

Fax: +65 6339 6003

LAU Wai Kwok (sales)

lauwk@kimeng.com

Sebastian HENG (research)

 

Agree. Volume has dropped alot and TA is still downtrending. Its been on a terrific uptrend so its only natural for a correction.

 

Volumes are not good on this counter.. plus from TA charts, looks to be downtrending still

 

Hi Tony888, thank you for your info.  I am also vested in Genting and Capitaland. Genting price only started to move up few days ago. However, will likely sell them prior to the IR results.

 

Unaudited FY ended 31.1.07 released around 28 Mar 07.

For LKHSp fans...OCBC Research (16 Nov) bet on Genting winning Sentosa IR , read on.....

Genting Int'l
Nov 17 close: 38 cents
OCBC INVESTMENT RESEARCH, Nov 16

HOT favourite for Sentosa IR win. Genting International Ltd (GIL) is the market's favourite to win the Sentosa IR. This is mainly attributed to its Universal Studio's proposal which is likely to score highly in the tourism appeal-biased selection criteria. We estimate GIL's 10 million visitors target by 2015 as probably conservative. In terms of financial investment commitment basis, even though its bid price is lowest at $5.2 billion, if we were to include the $200 million/year extra capex post completion, its bid price is comparable to its competitors......GIL's proposal for Sentosa is the strongest in our opinion, we place our bet on GIL. We thus initiate coverage on GIL with a 'buy' rating.
BUY

 

Anyone know  when is their next reporting of result date please ?  Thank you.

 

This buyer grapped all of $1.29 + balance @ $1.30 then, hence av price reported to SGX was a funny figure for this 1 trade. But today close very weak $1.26 (on par with HB now). Going forward, Keep our fingers crossed for this few weeks.....

 

Hi tuntun8888,

Looking at the table, there is 1 transaction of 360,000 shares at $1.293.  Usually, the step cahnges is 0.01, but for this case it is not !!!

Can you help to explain why ??  Thank you

 

Interest picking up, mostly done @ 1.29 & higher. Managed to close above peer Ho Bee ($1.25).

Last	Trades	Volume	BuyVol	Mid	SellVol
1.270	4	36,000	10,000	0	26,000
1.280	12	150,000	93,000	0	57,000
1.290	14	226,000	56,000	0	170,000
1.293	1	360,000	0	360,000	0
1.300	10	61,000	14,000	0	47,000
TOTAL	41	833,000	173,000	360,000	300,000

 

Like to share this bit of info with LKHSp fans. Most punters bet on Genting winning the Sentosa IR - so what direct benefit to LKHSp ? Chairman of LKH Bhd, Tun Mohd.Hanif Omar (a top Barrister at Law and well known to M'sian business & Govt.circle there) is also the Dy Chairman of Genting Bhd & Resorts World Bhd and Board Member of AMMD Holdings Bhd (Banking Industry). Also the 3 'Tan Sri' are good buddies - Tan Sri Dato' Low Keng Huat (Executive Dy Chairman of LKH Bhd), Tan Sri Lim Goh Tong & Tan Sri Lim Kok Thay (Chairman, President & CEO of Genting Bhd). The title of 'Tan Sri' is not easy to get- unlike 'Datuk'. I believe LKHSp will benefit from some string pulling if Genting should win Sentosa IR.Any comments.

 

Buyers are back this morning most @1.29 & 1.30 - only 1 lot done at 1.27 (lowest). Hope the momentum carries on into pm.

Last	Trades	Volume	BuyVol	Mid	SellVol
1.270	1	1,000	0	0	1,000
1.280	5	82,000	50,000	0	32,000
1.290	10	73,000	51,000	0	22,000
1.300	10	61,000	14,000	0	47,000
TOTAL	26	217,000	115,000	0	102,000

 

What a bad day for a good counter, can't understand!. See below trades done up to 3pm, there was this 1 single trade of 495 lots @ $1.15 around 9.26am. This 1 could be forced selling or else someone must be manupulating. Hope the bloodshed ends today. Any comments?

Last	Trades	Volume	BuyVol	Mid	SellVol
1.150	1	495,000	495,000	0	0
1.200	1	5,000	5,000	0	0
1.210	1	10,000	10,000	0	0
1.220	2	13,000	13,000	0	0
1.240	2	30,000	30,000	0	0
1.250	2	26,000	26,000	0	0
1.260	7	41,000	37,000	0	4,000
1.270	5	31,000	16,000	0	15,000
1.280	3	21,000	0	0	21,000
1.300	1	7,000	0	0	7,000
TOTAL	25	679,000	632,000	0	47,000

 

Read a small para on the current "THE EDGE", it mentions that LKH may give out special DIV. 

Based on all the information gathered and looking at the TA, it is likely that this counter may shot-up.

My only concern is the DIV payout date, as the STI is may hit a major correction before the DIV payout and hurt all of us.!!!

 

Figures extracted	EPS	NAV	Mkt Price
from latest AR	(Annualised)		8-Nov-06
LKHSp (1H Jul-06)	9.26 cts	$1.450	$1.31
Ho Bee (3Q Sep-06)	8.21 cts	$0.612	$1.29
Wing Tai (1Q Sep-06)	17.84 cts	$1.630	$2.09
UIC (2Q Jun-06)	8 cts	$1.440	$1.83

Today LKHSp was up1 ct to $1.31 when almost all property counters were sold down. BUT based on above peer comparison, LKHSp is still below value - it should be >UIC, i.e. >$1.83 'cos of higher NAV & EPS vs UIC. Looking at HoBee NAV of mere $0.612 that managed to close @ $1.29 ('cos it must have factored in Sentosa Cove development profits etc.). I believe @$1.31, LKHSp has not factored in most of recent development profits which is huge. Hopefully, LKHSp can hit all-time high of $1.86 soon....b4 Christmas. Any comments, pls.

 

Some profit taking going on!!!

Just went in to grab, hope TONY8888's information are correct !!!

Thanks