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SCGlobal

SC Global

Those vested, pls be patience. TP: 2.00 Smiley

Poh Kay Yong got buy....

This should have further upside

Slowly inching up @ 1.66 Smiley

bishan22 ( Date: 09-Sep-2010 16:03) Posted:

This counter chart looks good. Collect some as most others have catch up. Smiley

If fall further, prepare for cut loss. Smiley

freeme ( Date: 14-Sep-2010 11:50) Posted:

TA looks attractive.. just tat recent gov's move affect property counters.. in short term, it might nt perform

SCGlobal falls to $1.55 today.

I check all information and could not find a reason why it falls to this level.

Anyway, $1.55 is the Support Level.

If SCGlobal falls below $1.55, I suggest you cut your losses and move on.

If SCGlobal bound from $1.55, you can consider to Buy In more.

Good luck with your investing.

Today is still a Good Day to Buy SCGlobal.

Now trading at $1.60.

This is the only counter I think worth Buying, most counters are already too high.

I'm also monitoring OCBC and UOB, but don't think the time is right yet for Buying.

Will post when I think the time is right.

Good luck.

alexchia01 ( Date: 09-Sep-2010 12:32) Posted:

Today is a Good Day to Buy SCGlobal.

Now trading at $1.59.

1. In an Uptrend Channel with Potential High of $1.77.

2. Just bound off its support level of $1.55 and heading up.

3. Moving up towards MA30, 60 and 90. A sign that it's about to move to Bull Territory.

4. MACD lines just crossed and moving up. Another Bullish Signal.

5. Stochastic at 35%, also moving up.

6. Revenue, Profit and Cash Flow are very good for QoQ and YoY.

7. Company has been Buying Back their shares, a sign that company has confidence in their own business.

SCGlobal is my choice for the day, but I think you can also Buy Ho Bee, HPL and UE.

This is just my personal analysis. You invest at your own risk.

Good luck to all.

This counter chart looks good. Collect some as most others have catch up. Smiley

Today is a Good Day to Buy SCGlobal.

Now trading at $1.59.

1. In an Uptrend Channel with Potential High of $1.77.

2. Just bound off its support level of $1.55 and heading up.

3. Moving up towards MA30, 60 and 90. A sign that it's about to move to Bull Territory.

4. MACD lines just crossed and moving up. Another Bullish Signal.

5. Stochastic at 35%, also moving up.

6. Revenue, Profit and Cash Flow are very good for QoQ and YoY.

7. Company has been Buying Back their shares, a sign that company has confidence in their own business.

SCGlobal is my choice for the day, but I think you can also Buy Ho Bee, HPL and UE.

This is just my personal analysis. You invest at your own risk.

Good luck to all.

SC Global’s 2Q net profit jumps five-fold to $40.4m

Written by The Edge

Friday, 13 August 2010 17:12

SC Global’s 2Q net profit jumps five-fold to $40.4m

SC Global Developments, the developer of high-end luxury residences, today announced it nearly tripled its net profit to $53.8 million for the half year ended 30 June 2010, from $18.3 mil last year.

Net Profit for the second quarter of $40.4 million was five times the net profit for the same period last year of $7.8 million. Higher revenue recognition from the Group’s development projects, including The Marq on Paterson Hill, Hilltops and Martin No. 38, contributed strongly to the reported profit as construction progressed for these projects.

Group revenue for the half year increased 28% to $458.4 million from $357.6 million last year. Revenue from the group’s development project in China, Kairong International Gardens in Shenyang and the group’s subsidiary in Australia, AV Jennings (AVJ), also contributed to Group Revenue.

Gross Profit for the half year rose by 83% to $136.1 mil as compared to $74.5 million last year. Gross margin improved to 30% from 21% last year.

As reported earlier, AVJ achieved a 176% increase in net profit after tax to A$9.6 mil for the full year to 30 June 2010, reversing its loss of A$12.7 million ($15.6 million) in 2009. The full-year results reflect the total review of operations undertaken early in 2009.

AVJ recently announced the completion of the sale of its contract building operations to a division of the Japanese-listed company, Sekisui House Limited. The transaction includes Sekisui paying royalties for the right to use the AVJennings brand for its contract building operations for the next three years as well as a land alliance arrangement between the two companies.

The sale allows AVJ to fully focus on its residential development operations comprising land development, integrated housing and low-rise apartments, which has been an integral component of AVJ’s operations for 80 years.

It is above S$1.78????

Hi SC,

I will pay you a visit once election is over. Must check the number of voters the incumbent government has, then your price will appreciate accordingly as you attract foreign investors.

VIP le, so remember, call me when you reach 30 cents, ok la 40cents also can.

Dec 10 election, cool. Mean time I just had to avoid you for time being

Heard opposition has good fighters these days.

SC Global posts 44% fall in 3Q profit after tax of $5.4m

Property developer SC Global Developments says revenue in the third quarter of 2009
rose 577% to $172.6 million from $25.5 million in the corresponding quarter of 2008.

SC Global says the significant increase was primarily due to the inclusion of revenue
from AV Jennings for the nine months ended 30 September 2009, which was not included
in the results for the third quarter of 2008.

Gross profit during the quarter increased by 197% to $39.2 million. Gross margins of
23% were recorded as compared to 52% last year. The lower margins are a result of the
combination of higher margin and lower margin businesses this year with the consolidation
of AV Jennings.

Overall, Profit After Tax and Minority Interest (PATMI) for the quarter declined by 44% to
$5.4 million, as compared to $9.6 million in the corresponding quarter last year. The lower
PATMI was mainly a result of the lower contribution from AV Jennings and a higher provision
for share-based payments tied to incentive performance targets.

Business Times - 05 Oct 2009

Hock Lock Siew
Analysts need to get real

By VEN SREENIVASAN

EARLIER this year, several research houses issued reports on listed premium property developer SC Global, warning that the company faced 'severe solvency risks'.

One house, in March, downgraded SC Global's price target to 30 cents. Another, in May, slapped SC Global with a target price of 28 cents, citing potentially huge write-downs amid an impending depression. Just months earlier, that analyst had a price target of $3.80 on the stock.

A third research house, in October 2008, wrote down 70 per cent of SC Global's value to arrive at a target price of 38 cents. Just two months earlier, the very same research house had SC Global's stock price target at $1.25, down from $1.60 a few months earlier.

Today, all three brokerages have target prices ranging from $1.63 to $1.95 per share. And further re-ratings could be in the works.

The wild gyrations in forecasts are, to say the least, breath-taking. More surprising are the sudden and dramatic reversals in view of the last two months.

Part of this was due to the easing in credit markets. Also, property values have risen some 20 per cent from their bottom as demand recovered. And despite recent government measures to cool the mass market, prices remain steady.

To be fair, analysts became skittish amid the combination of an impending global economic crisis and a credit crunch. The prospect of a meltdown on the property market was very real.

However, it wasn't the property market per se which triggered the sudden and sharp write-downs (or write-offs) of SC Global. It was the size of the company debt and gearing. The gearings of property players with investment properties tend to be measured in terms of debt/assets. This is true for the real estate investment trusts (Reits), and also for significant portions of the portfolios of many listed property developers here. But for pure property developers like SC Global, gearing is measured by comparing debt against equity.

Measuring its net debt of $1.42 billion against its total shareholders' equity of $576 million translates into a gearing of 2.46 times for SC Global. But when this debt is compared to its asset base of $2.38 billion, this gearing falls to just below 70 per cent. And this asset is developable land valued at cost.

While accounting conventions regulate how gearing is to be measured, these rules cannot be the sole determinant of the strength, solvency and survivability of a company. Depending solely on this single measure can cause alarm and panic, which was the case with investors who held SC Global's shares.

This is a company whose product, comprising some 900,000 square feet of landbank, is targeted at a high net worth market. A significant portion of its buyers tend to be foreigners who set up a second home in Singapore as it rapidly evolves into an Asian playground for the rich and famous. Units in SC Global's projects do not feature prominently in the sub-sale market. While the world's rich and famous lost lots of money during the crisis, they still remain the richest people by most measures.

Meanwhile, SC Global's unsold inventory of almost 400 units in projects such as the Marq, Hilltops and Martin No 38 place it in a strong position to capitalise on the unfolding high-end property market recovery.

While cash was king for property players during the dark days of the crisis, the new danger for property companies - especially for those wanting to be in the premium end of the market - is 'replenishment risk'.

This is because the supply of premium developable land in Singapore, particularly in the core inner city area, is fast shrinking. So in future, it is the size of one's landbanks which will separate the property men from the boys. If anything, SC Global, with its huge landbank carried at an average cost of $1,500 per square foot (psf), should command a scarcity premium.

The company has sold about 20 per cent of its inventory and is collecting payments progressively. Even if it sells another 20 per cent at just $2,000 psf (a conservative estimate for a company whose property fetched upwards of $3,500 psf), it would rake in enough funds to wipe out its entire debt.

Also, the issue of debt and solvency has to be seen in the context of the company's relationship with its creditor banks.

SC Global's debts are largely with the local banks which were never in any serious credit risk, and which have been quite comfortable with the company, its business model and its founder-cum-chief executive, Simon Cheong, himself an ex-banker.

While analysts have to rely on numbers, they also have an obligation to peer beyond their spreadsheets to take in the real operating circumstances of each company. As one wit put it, if you torture numbers long enough, they will give you the answers that you are looking for. And sometimes these answers can cause unnecessary alarm.

smartrader ( Date: 07-Sep-2009 22:17) Posted:

last week one broker said tp is half of the market price..I think it is in Today.. nearly fell off my chair...

Alright ... coming back to $2 liao

Strong recovery ... I like ...

Still going strong... despite market gradual change in sentiments...

Nice closing ... ya deng fai (1.08) ...

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SC Global