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wonderful land sites in vietnam.
starlene ( Date: 28-Oct-2010 16:05) Posted:
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Don't be too preoccupied with all these "waves"
marubozu1688 ( Date: 02-Nov-2010 11:25) Posted:
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Let see whether this Elliott Wave 5 has ended for Kepland.
http://mystocksinvesting.com/singapore-stocks/keppel-land/kepland-has-elliott-wave-5-completed/
Livermore ( Date: 01-Nov-2010 22:33) Posted:
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It is not a bubble and more upside to come
The current view on the market being overvalued or not (bubble forming?) has to be considered against one important factor .... that key economies continue to pump prime liquidity to ensure economic recovery can be sustained and not double dip. With such continued flow of capital, inflation is inevitable and with inflation, the rich will migrate towards hard assets in preferred economies. So places like Singapore seeing a rising property market & asset value is not surprising. Question is whether this is value increasing (in properties) or mere inflation adjusted prices. If it's the latter, then I think the current market pricing is sustainable as long as liquidity is not removed from the global economies in significant sudden big moves (will US, Euroland and China allow this to happen?).
Frankly, no one knows. These times are unprecedented and historical cycles are not longer a reliable gauge to ascertain fair asset values for properties or equites. I only know holding cash is not the smartest move now as the value of money is not the same anymore.
Anyway, latest word from DMG on Kepland.
DMG says recent show flat visit for launch of prime condominium in Bukit Timah, with healthy visitor turnout, take-up, coupled with recent good sales of Allgreen's (A16.SG) Suites at Orchard, "have reinforced our positive view on the high-end segment, where buyers are undeterred by the recent government measures." House understands that developers readying several high-end launches over next 3-6 months, i.e. Robinson Suites, Spottiswoode Residences, Helios Residences. "A sustained level of buying activity here could serve as a short-term catalyst to high-end developers, i.e. Wing Tai (W05.SG) and SC Global (D2S.SG), which continue to trade at attractive discounts (20%-25% vs sector's 1% discount to end-FY11F RNAVs). Says KepLand (K17.SG) remains sector top pick given 45% RNAV exposure to rebounding office sector, but sees better share price upside from small-mid cap players such as Wing Tai, +0.6% at S$1.76. Stays Neutral on property sector.
market has already added this in their current price.
sureesh40 ( Date: 01-Nov-2010 15:13) Posted:
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I understand that Kepland is also developing MBFC Phase 2, to be ready in 2012. Will Kepland similarly sell it to K-reit and will this sale also lead to a big upwards price price movement as it did for the phase 1 sale.
hope that would not happend. However most property stocks are not overvalued. Perhaps the answer to the bubble problem is to increase supply, so that prices will not rise to fast. I hope governments in asia will work with property developers to address the supply situation.
epliew ( Date: 28-Oct-2010 19:13) Posted:
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property bubble is everywhere in asia...... too much fund flowing into the region and kept prices raising but when the funds are existing......
it would like 97 thai bhat issue.... sudden withdrawn.....
starlene ( Date: 28-Oct-2010 16:05) Posted:
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| Keppel Land (KPLD SP; S$4.39) | |||||
| Secures two prime sites. Keppel Land announced that it has secured two prime sites for villa development in Ho Chi Minh City. The group has entered into joint ventures with reputable local property developers, Tien Phuoc Company Limited and Hung Phu Real Estate Corporation, to develop two prime sites in the city. | |||||
| Recommendation. Maintain Outperform with a TP of S$5.13. | |||||
property bubble.....
paul1688 ( Date: 21-Oct-2010 20:35) Posted:
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private residential properties iare seeing decline in take up rate not sure if commerical will follow....
chinastar ( Date: 26-Oct-2010 14:43) Posted:
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make $$$$ in this valuable land.
paul1688 ( Date: 21-Oct-2010 20:35) Posted:
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Veri impressive
paul1688 ( Date: 21-Oct-2010 20:35) Posted:
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sound reasonable !
paul1688 ( Date: 25-Oct-2010 16:41) Posted:
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FROM AMFRASER
We believe investment cycle for office assets had hit a trough. The office supply overhang should be removed as conversion of office space into residential uses gained traction. We have reduced cap rates by 1% to 5% for office assets, factoring in a recovery in office rental market rates. We have increased our RNAV estimate by 10% to S$4.28/share. Our fair value stands at parity to our RNAV estimate. Valuation remains uncompelling with share price trading at a 5% premium to our fair value. We maintain our HOLD rating.
FROM DBSV Latest Commentary on Office Rentals
Office rents in Singapore grew at a faster clip in the third quarter despite an increase in vacancy and a reduction in the take-up rate. Overall office rental growth outpaced the other sectors, climbing 6% in Q3 2010, the highest quarterly growth in the last two years. In comparison, office rents grew 1.1% and 0.4% in Q2 and Q1 respectively. The increase came even as the island-wide vacancy rate jumped to 13%, from 12.3% in Q2. Stocks that should benefit are Keppel Land, UOL, Mapletree Logistics and AREIT.
FROM DBSV
Expect one-off bumper gains in Q4
• Dip in Q3 earnings on project completions
• Robust residential sales underpins profit
• Raised FY10 earnings to reflect divestment gains in 4Q
• Maintain Buy with raised TP $4.89
Maintain Buy, TP $4.89. We have raised our FY10 earnings to $663m to incorporate the MBFC1 divestment gain in Q4. Post transaction, gearing will shrink to 0.5%, which gives the group deep capacity to tap new investment opportunities for growth. We continue to like Kepland for its leverage to the rising office sector. We have raised our office value assumption to $2500-2600psf on a 12-mth forward basis and tweaked ASPs for Lakeside. Our target price of $4.89 is premised on a 10% discount to revised RNAV of $5.43.
FROM CIMB
Keppel Land Ltd - 3Q10 Results - Excess capital made productive KepLand's 3Q10 core net profit of S$68m forms 23% of our FY10 forecast and 22% of consensus. 9M10 core net profit forms 70% of our number. Sales of resilient mass-mid-tier homes in China remained strong. Excess capital has partially been reinvested in more Chinese sites. With 39% of its GAV still in prime office assets, KepLand should continue to benefit from asset re-pricing in the sector. We keep our earnings estimates intact. We have, however, a higher RNAV estimate of S$5.70 and higher target price of S$5.13 (from S$5.09, still based on a 10% discount to RNAV) on potential accretion from its latest land buys in Chengdu. We see near term catalysts from the conclusion of the MBFC sale and further accretive reinvestments. Trading at a 21% discount to RNAV, KepLand remains a key pick in the sector.
FROM DMG
Maintain BUY with target price of S$5.00 (previously S$4.80), pegged at parity to end-FY11F RNAV. KepLand’s 3Q10 results were below expectations, due to lower residential profits. We continue to like the stock for its 45% exposure to the rebounding office sector, sweetened by the resilience of its Chinese residential portfolio, i.e. lower-tier city projects (15% of RNAV). Our RNAV is raised by S$0.20, factoring in K-REIT’s MTM price and new Chengdu acquisitions.
FROM KIMENG
Keppel Land (KPLD SP, $4.50, BUY, TP $5.60) –
KepLand announced a 3Q10 net profit of $70.1m, largely in line with expectations. This was an 11% yoy decline but flat on a sequential basis. The expected net gain of $321m from the proposed divestment of the Marina Bay Financial Centre Phase 1 should lend weight in 4Q10. We remain positive on KepLand’s remaining exposure to international Grade A office space and expect more positive news flow relating to the Tianjin Eco‐City. Maintain BUY.
Remarks : Sharing analysts summary. Stock has ran up a fair bit. Pls make your own investment decision - not inducement to buy blindly
Expect one-off bumper gains in Q4
• Dip in Q3 earnings on project completions
• Robust residential sales underpins profit
• Raised FY10 earnings to reflect divestment gains in 4Q
• Maintain Buy with raised TP $4.89
Maintain Buy, TP $4.89. We have raised our FY10 earnings to $663m to incorporate the MBFC1 divestment gain in Q4. Post transaction, gearing will shrink to 0.5%, which gives the group deep capacity to tap new investment opportunities for growth. We continue to like Kepland for its leverage to the rising office sector. We have raised our office value assumption to $2500-2600psf on a 12-mth forward basis and tweaked ASPs for Lakeside. Our target price of $4.89 is premised on a 10% discount to revised RNAV of $5.43.
FROM CIMB
Keppel Land Ltd - 3Q10 Results - Excess capital made productive KepLand's 3Q10 core net profit of S$68m forms 23% of our FY10 forecast and 22% of consensus. 9M10 core net profit forms 70% of our number. Sales of resilient mass-mid-tier homes in China remained strong. Excess capital has partially been reinvested in more Chinese sites. With 39% of its GAV still in prime office assets, KepLand should continue to benefit from asset re-pricing in the sector. We keep our earnings estimates intact. We have, however, a higher RNAV estimate of S$5.70 and higher target price of S$5.13 (from S$5.09, still based on a 10% discount to RNAV) on potential accretion from its latest land buys in Chengdu. We see near term catalysts from the conclusion of the MBFC sale and further accretive reinvestments. Trading at a 21% discount to RNAV, KepLand remains a key pick in the sector.
FROM DMG
Maintain BUY with target price of S$5.00 (previously S$4.80), pegged at parity to end-FY11F RNAV. KepLand’s 3Q10 results were below expectations, due to lower residential profits. We continue to like the stock for its 45% exposure to the rebounding office sector, sweetened by the resilience of its Chinese residential portfolio, i.e. lower-tier city projects (15% of RNAV). Our RNAV is raised by S$0.20, factoring in K-REIT’s MTM price and new Chengdu acquisitions.
FROM KIMENG
Keppel Land (KPLD SP, $4.50, BUY, TP $5.60) –
KepLand announced a 3Q10 net profit of $70.1m, largely in line with expectations. This was an 11% yoy decline but flat on a sequential basis. The expected net gain of $321m from the proposed divestment of the Marina Bay Financial Centre Phase 1 should lend weight in 4Q10. We remain positive on KepLand’s remaining exposure to international Grade A office space and expect more positive news flow relating to the Tianjin Eco‐City. Maintain BUY.
Remarks : Sharing analysts summary. Stock has ran up a fair bit. Pls make your own investment decision - not inducement to buy blindly
sti and europe up, possible it push up the market again.
hanwudi ( Date: 21-Oct-2010 00:03) Posted:
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DOW +127 points
Kepland may retest 4.59 again tmr
On Wednesday, Kepland re-tests the support at $4.46 and closed at $4.50 with regular volume of 4.45 million shares traded.
A black candle stick with LONG upper shadow similar to “Hang man” indicates the rally has stall and traders choose to take profit ahead of earnings report due tonight.
Both RSI & MACD are turning bearish as RSI perform a sharp down tick.
Important Resistance of KepLand: $4.59
Immediate Support of KepLand: $4.46
Currently prices are well above the 20/50/100/200 days MA.
Due to the negative earning report by KepLand today, it is unlikely that prices can sustain above the $4.46 support tomorrow.
For investors who are vested, we would advise to wait till 9:30am tomorrow before deciding whether to sell the stocks or not.
We should be able see the selling pressure for the first 15 mins after opening and it may not be as bad as what you think.
SEE ANALYSIS FOR CITYDEV
If you do not know how to check for selling pressure, do watch for the chatbox as the rest of readers would help on this issue. (Normal Volume: 3.9 million/day)