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Basing on URA report, 3Q see more transaction in middle high end private home sales. We shall see it breaking the barrier of $5.25 soon.
Buy the warrants <$2.60 matter of time will cross $3 when parents share $6 warrant worth $$3.70,ex price $2.30 expiry date 2011,in the money,even if expired can covert easilt to mother share and due to gaering effect can make >$
| starlene wrote: |
tecc wrote:
shd be able to break 200MA @ $4..
price considered low as compared to other property counters such as Sp land, Cidy Dev, Kepland.. all already broke 200MA early this month
typical collection phase by Fund managers..with sell queue higher than buy so that U'll sell to them...still collecting.Abdereen will only sell when at least $6-$8 |
I already predicted in May 2009 TP $6-$8,now CIMB see below
Trouble viewing this message! Click on the - HTML Version
09 Nov 2009
Singapore
Bukit Sembawang Estates
Result note - Land bank and valuations remain attractions - by Donald Chua
(nonsense SP / BSES.SI, OUTPERFORM - Maintained, S$4.72 - Tgt. S$6.17, Property)
2Q10 core net profit of S$2.9m was within expectations. While this only forms 9% of our FY09 estimate and consensus, we expect stronger recognition of presales in later quarters a timing issue. 1H10 core net profit makes up 14% of our full-year. We maintain our positive view on the stock as we focus on its large inexpensive land bank against a backdrop of improving economic indicators. There is little need for BukitSemb to vie for expensive land in the market, we believe. Maintain Outperform with an unchanged target price of S$6.17, still based on a 25% discount to RNAV.
Full-report including important disclosures: [ PDF ]
Property
Sector Note - Residential data encouraging; office take-up rising - by Donald Chua
( - )
We remain Overweight on the property sector as the latest 3Q09 URA data shows: 1) strong resale numbers; 2) improving rents for selected properties; 3) further delays in completing supply; and 4) indications of falling speculation on lower subsales. Low interest rates and stronger developer balance sheets are also supportive. We maintain our Outperform calls on CityDev, Allgreen and Hobee. Evidence of a pick-up in office leasing should also provide some comfort to the bears. We maintain our Outperform on KepLand as we believe it will benefit from tenants on a flight to quality.
Full-report including important disclosures: [ PDF ] This analyst also cover BS and has a buy rating of about $6 same as DBS Vickers 
| 15:34:00 |
4.880 |
1,000 |
B |
| 15:22:45 |
4.880 |
3,000 |
B |
| 15:01:34 |
4.870 |
1,000 |
B |
| 14:52:55 |
4.890 |
1,000 |
A |
| 14:34:58 |
4.860 |
8,000 |
A |
| 12:15:07 |
4.850 |
1,000 |
B |
| 12:15:06 |
4.850 |
2,000 |
B |
| 12:05:39 |
4.860 |
1,000 |
A |
| 11:55:44 |
4.850 |
1,000 |
B |
| 11:39:25 |
4.850 |
2,000 |
B |
| 11:24:52 |
4.850 |
2,000 |
B |
| 11:09:54 |
4.850 |
5,000 |
B |
| 11:08:58 |
4.850 |
1,000 |
B |
| 11:08:47 |
4.850 |
6,000 |
A |
| 10:59:30 |
4.850 |
1,000 |
A |
| 09:58:59 |
4.850 |
1,000 |
A |
| 09:48:23 |
4.840 |
1,000 |
A |
| 09:44:02 |
4.840 |
2,000 |
B |
| 09:28:24 |
4.830 |
1,000 |
B |
| 09:28:17 |
4.830 |
1,000 |
B |
| 09:01:27 |
4.830 |
10,000 |
A |
| |
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|
Oct PULSE magazine state that Bukit Sembawang has the highest EPS(earning per share) for this FY,will be releasing > residential landed/condo projects for sale,time to recognise profit for this FY 
.Good to buy its warrants <$2.60.Accumulate
Tender for Yio Chu Kang/Seletar Road
commercial/residential site closes with 12 bids, as
developers continue to bid for sites in spite of recent
measures
• Far East Organisation submits top bid of S$376 psf ppr,
nearly 3 times the minimum offer price of S$128 psf ppr
and 35% above 2nd highest bid
• Other developers that threw in bids: F&N (3rd highest),
Sim Lian (5th), Ho Bee (6th) and Guocoland (11th)
• Notable exclusions: Allgreen and City Dev; as we had
mentioned, we believe recent measures may reduce
landbanking interest by companies with larger landbanks
• Stay selective: look for value and diversity; accumulate
companies with smaller landbank in a sector de-rating
Still Double-Digit Bids. In spite of recent measures announced
by the Government, including the reintroduction of the
Confirmed List and the abolition of the Interest Absorption
Scheme (IAS), the Yio Chu Kang/Seletar Road
commercial/residential tender closed this evening with 12 bids,
just one fewer than the 13 bids received for both the Chestnut
Ave and Dakota Crescent sites. The site, located near Seletar
Hills (suburban) was launched on 20 Aug with a minimum
offer price of S$128 psf ppr. The top bid (site has not been
awarded) was submitted by Far East Organisation, at a tender
price that works out to S$376 psf ppr, which is nearly 3 times
the minimum offer price of S$128 psf ppr and an aggressive
35% higher than the next highest bid (S$278 psf ppr). The top
bid of S$376 psf ppr works out to be 34% higher than the
price City Dev paid for the Chestnut Avenue site (S$280 psf
ppr), a slightly less attractive site. In terms of the top
bid/minimum offer price multiple, at 2.93x, Far East's bid is
more aggressive than the 2.33x City Dev paid for Chestnut
Avenue and the 2.54x that UOL paid for Dakota Crescent.
Stay Selective. The next residential site on the block is the
Serangoon Ave 3 site, an attractive site next to Lorong
Chuan Circle Line station, which closes 7 Oct. We advocate
a more selective stance within the developer space for now,
focusing on: (1) value in the mid-caps, BUY Allgreen (TP
S$1.36) and Bukit Sembawang (TP S$5.94); (2)
diversification in the big-caps, BUY Capitaland (TP S$4.1 ;
and (3) a preference for companies with smaller landbanks,
should the sector de-rate in the near-term, focusing on
stocks like Wheelock (HOLD, TP S$1.85), UOL Group (BUY,
TP S$3.93) and Wing Tai (HOLD, TP S$1.75).
http://www.remisiers.org/research//sgproperty180909-flashnote%20DBSV.pdf |
time to move tomorrow...worst is over,last 2 weeks see it drop to $4.88...buy > warrants is worth your every cent starlene ( Date: 12-Oct-2009 20:32) Posted:
SEE Market wrote:
Bukit Sembawang set to CHIONG UP to 8.60
Fully agree...my best counter todate.
Bgt back > of its warrants
16:50:28 2.630 3,000 A
16:38:05 2.610 2,000 B
16:36:33 2.620 2,000 B
14:33:15 2.630 1,000 A
14:33:10 2.620 1,000 A
11:31:43 2.620 3,000 A
11:25:34 2.600 10,000 B
11:12:52 2.620 5,000 A
11:10:10 2.610 1,000 A
11:05:37 2.620 6,000 A
11:05:33 2.610 2,000 A
11:04:50 2.610 3,000 A
09:52:03 2.620 4,000 A
09:33:32 2.620 2,000 A
09:32:38 2.620 3,000 B
Buy its warrants better..gearing effect will make>
yipyip ( Date: 20-Sep-2009 14:17) Posted:
| DBS Vickers Securities , 11 Sep'09
Bukit Sembawang (BS) offers the purest play on the Singapore residential market, with nearly 100% of its RNAV
attributed to this sub-sector. BS holds 4.2 million sqft of landbank in Singapore, which places it second among listed developers.
About 74% of this is low-cost legacy land from its days in the rubber plantation business, resulting in EBIT margins of 36% to 53%,
which is higher than the usual 15-20% EBIT margin associated with mass-market properties. Target price is based on a 30% discount
to RNAV of $8.60, to account for its low liquidity and expectation of a more gradual monetisation of its landbank.
The stock is currently trading at 0.5x P/RNAV, the lowest in the sector. BUY (initiating coverage).
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SEE Market wrote:
Bukit Sembawang set to CHIONG UP to 8.60
Fully agree...my best counter todate.
Bgt back > of its warrants
16:50:28 2.630 3,000 A
16:38:05 2.610 2,000 B
16:36:33 2.620 2,000 B
14:33:15 2.630 1,000 A
14:33:10 2.620 1,000 A
11:31:43 2.620 3,000 A
11:25:34 2.600 10,000 B
11:12:52 2.620 5,000 A
11:10:10 2.610 1,000 A
11:05:37 2.620 6,000 A
11:05:33 2.610 2,000 A
11:04:50 2.610 3,000 A
09:52:03 2.620 4,000 A
09:33:32 2.620 2,000 A
09:32:38 2.620 3,000 B
Buy its warrants better..gearing effect will make>
yipyip ( Date: 20-Sep-2009 14:17) Posted:
| DBS Vickers Securities , 11 Sep'09
Bukit Sembawang (BS) offers the purest play on the Singapore residential market, with nearly 100% of its RNAV
attributed to this sub-sector. BS holds 4.2 million sqft of landbank in Singapore, which places it second among listed developers.
About 74% of this is low-cost legacy land from its days in the rubber plantation business, resulting in EBIT margins of 36% to 53%,
which is higher than the usual 15-20% EBIT margin associated with mass-market properties. Target price is based on a 30% discount
to RNAV of $8.60, to account for its low liquidity and expectation of a more gradual monetisation of its landbank.
The stock is currently trading at 0.5x P/RNAV, the lowest in the sector. BUY (initiating coverage).
|
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Accumulate anothe r5 lots at $2.62 warrants..when Govt announced anti speculative measures..I recall dropping to this level $$2.72 to $2.62..so bought back at $2.62 still reasonable :PBgt another 15lots today total 20
11:31:43 2.620 3,000 A
11:25:34 2.600 10,000 B
11:12:52 2.620 5,000 A
11:10:10 2.610 1,000 A
11:05:37 2.620 6,000 A
11:05:33 2.610 2,000 A
11:04:50 2.610 3,000 A
09:52:03 2.620 4,000 A
09:33:32 2.620 2,000 A
09:32:38 2.620 3,000 B
yipyip ( Date: 20-Sep-2009 14:17) Posted:
| DBS Vickers Securities , 11 Sep'09
Bukit Sembawang (BS) offers the purest play on the Singapore residential market, with nearly 100% of its RNAV
attributed to this sub-sector. BS holds 4.2 million sqft of landbank in Singapore, which places it second among listed developers.
About 74% of this is low-cost legacy land from its days in the rubber plantation business, resulting in EBIT margins of 36% to 53%,
which is higher than the usual 15-20% EBIT margin associated with mass-market properties. Target price is based on a 30% discount
to RNAV of $8.60, to account for its low liquidity and expectation of a more gradual monetisation of its landbank.
The stock is currently trading at 0.5x P/RNAV, the lowest in the sector. BUY (initiating coverage).
|
|
DBS Vickers Securities , 11 Sep'09
Bukit Sembawang (BS) offers the purest play on the Singapore residential market, with nearly 100% of its RNAV
attributed to this sub-sector. BS holds 4.2 million sqft of landbank in Singapore, which places it second among listed developers.
About 74% of this is low-cost legacy land from its days in the rubber plantation business, resulting in EBIT margins of 36% to 53%,
which is higher than the usual 15-20% EBIT margin associated with mass-market properties. Target price is based on a 30% discount
to RNAV of $8.60, to account for its low liquidity and expectation of a more gradual monetisation of its landbank.
The stock is currently trading at 0.5x P/RNAV, the lowest in the sector. BUY (initiating coverage).
With $118mil bid price for Yio Chu kang land near Seletar out,price has moved ahead,time to consolidate,may buy back if drop to a comfortable level
starlene ( Date: 15-Sep-2009 17:01) Posted:
| Sold off $2.80 to $2.88 100lots of Bukit Semb warrants even though DBS upgrade mother share to $6.05..switch > $ to Sinotel at 61cts to 65cts on Mon 14 Sept 2009 |
|
Sold off $2.80 to $2.88 100lots of Bukit Semb warrants even though DBS upgrade mother share to $6.05..switch > $ to Sinotel at 61cts to 65cts on Mon 14 Sept 2009
yes, it will retreat to below $4 soon..
up a lot for the past few days..
but be careful..
on very low vol.. less than 1mil
These 3 Ah Peks are going to bless U ,buy > Bukit Senb warrants
http://img147.imageshack.us/i/img2900.jpg/
starlene ( Date: 13-Sep-2009 00:19) Posted:
| Sat Sep 12, 2009 11:48 pm Post subject: Re: This Wiill Be Yours and My Best Investments-Double your$ -------------------------------------------------------------------------------- starlene wrote: Those who bought from 37-39cts base on my suggestion make $$$ liao .Even at 49cts last day cum rts price price not losing though theoretical ex-price is 24.7cts,don't forget U have 2 warranst free worth at least 6cts(23.5-17.5cts) as the warrants exercise price is 17.5cts over a 5 year period.Sold off all my Global Yellow Pages to pick up its rights and channel > $$$ inot Bukit Sembawang Warrants. Buy Sembawang Warrants-substitute for its mother shares -------------------------------------------------------------------------------- Bukit Sembawang warrants $2.04 exercise price $2.30 expiry date 4-8-2011 ie U pay another $2.30,total $4.34 to get mother share,now trading at $4.29,slight premium only,worth it as U can buy 2000 warrants compared to 1000 mother shares.Still deeply undervalued,as its crown jewel land at Seletar Hill is recorded at histotical cost of $70mil verses mkt value $500mil, strong buy for its warrants,as it is more afforadble.Hong Leong Investment Hldgs,Aberdeen Asset Mgt and Credit Sussie are accumulating and converting the warrannts into mother shares as some activity was reported on JULY 29,AND 31,They have 12.6mil and 18.4mil and 18.4mil respectively...not too late to accumulate 13 Aug 2009 Singapore Bukit Sembawang Estates Result note - Timing issue - by Donald Chua (nonsense SP / BSES.SI, OUTPERFORM - Maintained, S$4.19 - Tgt. S$5.02, Property) nonsense's 1Q10 core net profit of S$1.4m was below expectations, forming only 4% of our full-year estimate. This was because recent sales of The Verdure and Luxus Hills Phase 1 have not been recognised: a timing issue. Net gearing fell from 2.2x in 4Q09 to 0.94x with the help of proceeds from its rights issue and a revaluation gain from its available-for-sale assets of S$6.4m. While management remains cautious on the sector outlook, we believe The Vermont and Phase 2 of Luxus Hills could be released next. We keep our earnings and RNAV estimates unchanged. Our target price, still pegged at a 25% discount to RNAV of S$6.69, remains S$5.02. The stock remains clearly undervalued given its vast low-cost land bank. Maintain Outperform. For those who have heeded the call on Aug 13 to buy its warrants at $2.04,not bad in only a month,at Sept 12 ,a return of about 26% ( $2.58-$2.04)/2.04x100% |
|
Sat Sep 12, 2009 11:48 pm Post subject: Re: This Wiill Be Yours and My Best Investments-Double your$ -------------------------------------------------------------------------------- starlene wrote: Those who bought from 37-39cts base on my suggestion make $$$ liao .Even at 49cts last day cum rts price price not losing though theoretical ex-price is 24.7cts,don't forget U have 2 warranst free worth at least 6cts(23.5-17.5cts) as the warrants exercise price is 17.5cts over a 5 year period.Sold off all my Global Yellow Pages to pick up its rights and channel > $$$ inot Bukit Sembawang Warrants. Buy Sembawang Warrants-substitute for its mother shares -------------------------------------------------------------------------------- Bukit Sembawang warrants $2.04 exercise price $2.30 expiry date 4-8-2011 ie U pay another $2.30,total $4.34 to get mother share,now trading at $4.29,slight premium only,worth it as U can buy 2000 warrants compared to 1000 mother shares.Still deeply undervalued,as its crown jewel land at Seletar Hill is recorded at histotical cost of $70mil verses mkt value $500mil, strong buy for its warrants,as it is more afforadble.Hong Leong Investment Hldgs,Aberdeen Asset Mgt and Credit Sussie are accumulating and converting the warrannts into mother shares as some activity was reported on JULY 29,AND 31,They have 12.6mil and 18.4mil and 18.4mil respectively...not too late to accumulate 13 Aug 2009 Singapore Bukit Sembawang Estates Result note - Timing issue - by Donald Chua (nonsense SP / BSES.SI, OUTPERFORM - Maintained, S$4.19 - Tgt. S$5.02, Property) nonsense's 1Q10 core net profit of S$1.4m was below expectations, forming only 4% of our full-year estimate. This was because recent sales of The Verdure and Luxus Hills Phase 1 have not been recognised: a timing issue. Net gearing fell from 2.2x in 4Q09 to 0.94x with the help of proceeds from its rights issue and a revaluation gain from its available-for-sale assets of S$6.4m. While management remains cautious on the sector outlook, we believe The Vermont and Phase 2 of Luxus Hills could be released next. We keep our earnings and RNAV estimates unchanged. Our target price, still pegged at a 25% discount to RNAV of S$6.69, remains S$5.02. The stock remains clearly undervalued given its vast low-cost land bank. Maintain Outperform. For those who have heeded the call on Aug 13 to buy its warrants at $2.04,not bad in only a month,at Sept 12 ,a return of about 26% ( $2.58-$2.04)/2.04x100%
Wow ytday only about $3.53,today shot up to $4.94 now and its warrants from $2.22 to $2.68 now,power of gearing in the warrants.
Nomura raises FY "10,FY "11 and FY'12 earning estimates by 906%,77% and 174% rspectively,even better for the long term
starlene ( Date: 10-Sep-2009 23:26) Posted:
| Its warrants reach a 2009's high of $2.26 today,need exerxise price of $2.30 but buy warrants a 10cts U > than breakeven,expired long way 2011 |
|
Its warrants reach a 2009's high of $2.26 today,need exerxise price of $2.30 but buy warrants a 10cts U > than breakeven,expired long way 2011
Hit 2009's high of $4.55 and the warrants hit $2.25,not too late,but better to buy warrant as its exercise price is $2.30
starlene ( Date: 03-Sep-2009 11:26) Posted:
| Let's wait for after Sept 18 when the parcel of land at Seletar will be closed for sales,the announcement of the highest bidder will boost Bukit Sembwang which has Land worth half a billion but valued at $70mil at historical cost in its account |
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