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You are say 27 right ?? This is the last reporting year PE. For 9M profit up 96%, the PE should drop by about half to 14~15 perhaps........
They are announcing FY result next week......
dealer0168 ( Date: 19-Feb-2010 00:00) Posted:
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Andrew ( Date: 18-Feb-2010 23:52) Posted:
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I am vested on this. But there is a MA crossover recently.
I am expecting a good DIV this year from AG.......
star-trader ( Date: 18-Feb-2010 22:31) Posted:
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As written in my daily investment blog, it is a definitely a hold for this stock for those who has purchased few days back. Personally , got it at SGD1.12 and will tend to hold further till the next wave of selling...
http://star-trader.blogspot.com/2010/02/allgreen-properties-any-way-to-prop.html
SOBAYOR,
star-trader
Zao Bao today reported that Allgreen sold 63 out of 83 (76%) Holland Residences at appox S$ 1700 psf. Very positive for the earnings in 2010. Launches expected at high-end: Buikit Timah (Cascadia), River Valley (RV residences) and Orchard Road condo.
Robert Kuok, 34% shareholder of Allgreen has again been named No.1 richest man in Malaysia with approx more than RM 40 billion.
Wait for the results on 25 Feb 2010 for Allgreen's earnings. Should be positive. Think in bull run (with 85% of news world-wide, regional and Singapore postive), the big caps will cheong fast, followed by the middle cap like Allgreen. That is the trend... Good luck...
FearValueGreed ( Date: 15-Feb-2010 00:49) Posted:
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Gong Xi Fa Cai......
Be Patient.
Quoted "
Asset-price bubbles have been the cause of most of the recent economic downturns, including the most recent one. But how do you know when a bubble is forming? If central bankers, regulators and investors knew the answer to the question, they might be able to avoid them.
Robert J. Shiller, a well-known Yale economist, suggested on Wednesday — a bit whimsically — that bubbles could be diagnosed using the same methodology psychologists use to diagnose mental illness.
After all, a bubble is a form of psychological malfunction. And like mental illness there’s a tricky gray area between being really sick and just having a few problems, Mr. Shiller said during a panel discussion at the World Economic Forum in Davos, Switzerland.
The solution: a checklist like psychologists use to determine if someone is suffering from, say, depression. So here is Mr. Shiller’s checklist.
* Sharp increases in the price of an asset like real estate or dot-com shares
* Great public excitement about said increases
* An accompanying media frenzy
* Stories of people earning a lot of money, causing envy among people who aren’t
* Growing interest in the asset class among the general public
* “New era” theories to justify unprecedented price increases
* A decline in lending standards
"
CLearly we are not seeing any of this, and hence no dramatic increase in property price nor its stock price. So dun buy first, wait for the opposite to happen then buy.
Huat ah
Happy Year of Golden Tiger to all Allgreen Investors,
Hope that Allgreen proceeds with all green price increases in the Golden Tiger year, expected to exceed at least 33 cents more to S$ 1.47, its NAV and beyond. EPS is expected to be record at its pending annoucement on 25 Feb 2010. Interesting buoyant facts about Allgreen with its 5 most recent projects all in high-end areas:
a. VIVA (Novena site) is 100% sold, expected to contribute strongly to the results.
b. Holland Residences: Launched very well at approx S$ 1700 psf, after holding on to the land in past 13 years.
c. Cascadia (at Bukit Timah Road), beside Floridian, expected to do very well
d. District 9 launch soon at River Valley
e. District 9 launch soon at Orchard
When Allgreen's soft launched its 83-unit Holland Residences and 54 of 68 units released were sold bet $1,575 to $1,824 psf. 80% buyers are locals. Price expected to be higher in formal launches (did not check last weekend).
In the coming CNY, Allgreen relaunching it's large 536-unit The Cascadia. This one is interesting because it had sold 187 units enbloc to two property funds (think one is HK and the other Spanish) bet $1,400 t0 $1,500 psf. Based on neighbour's Floridian pricing, one can expect Allgreen to market Cascadia $1,500 psf level +/-.
After this, Allgreen has the 110 unit Suites@Orchard (this one will be interesting to see how they price and sell), and the 300 unit Sky Suites on Enggor Street.
Disclaimer : Vested. Pls make yr own investment or trading analysis.
Allgreen reported that they will release their results on or around 25 Feb 2010. I think it will likely to show very high growth, will not provide any figures here. Some analysts estimated price target aroung S$ 1.56 in the medium term. For me, it has high growth due to the following 8 reasons:
a. Its properties Viva (Novena area), Cascadian (Bukit Timah area) are almost 100% sold. Its new lauch of high end condo at Holland village is selling about S$ 1700 psf, this was lauched after holding the land bank of 8 bungalows for past 13 years. It is similar to City Dev which held St Regis site for 20 years before it finally launched in 2006 at S$ 3000 psf which started the bull run for property. It is likely to be similar for this year. Anaylsts are predicting high take-up rate for the high end condo. Other lauch include the River Valley Site.
b. Allgreen is 34% owned by Robert Kuok, the richest man in South East Asia. How to go wrong with South East Asia's Warren Buffet ?
c. The world economy is rebounding. China grew 10.7% in 4th quarter 2009 and USA grew 5.7% in 4th quarter 2009. Tony Tan said that this decade is the golden era for Asia. He is usually right. Give an example, he correctly spoke about the sub-prime a few months (I think 6 mths) before it happened. On the Greece debt problem, G7 mostly agreed that Greece will not pose much problem. G7 at the Artic submit agreed to keep the fiscal stimulus going. For Singapore, the growth is expected to be 3 to 5 % this year. Generally, the stock market grows with the economy and property stocks are bellweather of the economy.
d. In my view, bearing unforeseen circumstances,the stocks are in the correction stage, it will go down about 10% before it goes on bull run. STI has come down from this year's high of 2900. Similarly, Dow Jones came down from 11,000 to hit 10,000, correction of about 10%. Dow Jones showed resiliance last Friday, by recovering about 167 pts to close about 10,000 pts.
e. Large liquidity in the market, with the Fed committed to keep the interest rate to almost 0% at least till June 2010. The current cut-down in China is healthy as the China government is trying to pull back on the red-hot property and stock market. It is different scenario as compared to the panic state in Sep 2008. In fact, the market is too good with strong liquidity and the government stepped in.
f. Current price of S$ 1.11 is way below Allgreen's NAV of S$ 1.47, we have very safe margin. The pull back from S$ 1.30 price in Sep 2009 happened due to Singapore goverment's tightening measures and the pullback now from S$ 1.30 is due to correction. Allgreen should at least be trading above its NAV of S$ 1.47. But need to have patience.
g. History has shown that Macca and Hong Kong benefitted from the opening of casinos and Disneyland, via shooting up of property price. Now, the confirmed opening of Genting Resort World at Sentosa will help to boost the local environment and funds and expatrites will start coming in.
h. With the opening of two IRs in Feb and April 2010 respectively, tourism is expected to boom in Singapore. Allgreen will benefit from its Trader Hotel, Tanglin Mall, Great World Shopping Mall and Great World Service Apartments.
Good luck to all investors of Allgreen. Happy New Year of the Golden Tiger !
But this is the only property play that is trading well below NAV. Plus 9mths profit is up 92% than the same period for 2008 at 153M.
FearValueGreed ( Date: 27-Jan-2010 00:08) Posted:
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Reaching its NAV means upside limited
Based on historical trend, allgreen would just hover around this region near the NAV during a bear rally final phase.
Not advisable to load up. Be warned.
Allgreen Properties Ltd - Laggard in residential space
from CIMB's company update on 11/01/10
Prefer Allgreen to CityDev; maintain Outperform. We retain our positive view on Allgreen for its attractive valuations against RNAV and sizable inventory. With a large, inexpensive inventory and healthy balance sheet, the group would not need to overpay for any new land. We advocate a switch to Allgreen from CityDev for better value. We raise our end-CY10 RNAV estimate and target price from S$1.50 to S$1.57 after factoring in lower cap rates and ASPs. Our FY09-11 core EPS estimates have been raised by 2.5-2.8%. Successful releases in Singapore and China and higher ASPs are expected to provide stock catalysts.
More projects for launch. One Devonshire and Viva have been almost fully sold. The group has the luxury of pacing its launches with its large, inexpensive inventory. Our ground checks suggest that Holland Residences could be released soon at S$1,550-1,650psf on average. Other sites such as Handy Road and RV Residences also appear launch-ready.
Retail properties resilient, hotels still weak. Allgreens retail properties (Great World City and Tanglin Mall) continue to enjoy high occupancy and good rents. However, occupancy and room rates remain weak at its hotels and serviced apartments but could improve this year as an economic recovery takes place.
China operations to feature more prominently in 2010. Allgreens interests in seven mixed developments through JVs with Kerry Properties give it an increasing China angle. We expect its China operations to feature more prominently this year with a land bank at Chengdu likely to be launched this year. Rising policy risks in China remain a potential de-rating catalyst.
All Green Highest Price within the last 3 years is $2.25 and lowest price is $0.33. Currently trading around $1.30.
Trading Volume is ok.
Fundamentally is ok.
Technically it is riding on the recovery of the market and testing the $1.30 resistant point.
An average stock. Can buy but do not hope for a strong rally anytime soon.
Very good news for property stocks, strong investment due to the growing population.
Allgreen is undervalued as compared to other major property stocks and hence more upside...
Allgreen is still trading below its NAV of S$ 1.47....
Singapore's investment property market staging a robust comeback
By Mok Fei Fei, Channel NewsAsia | Posted: 14 January 2010 1506 hrs
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 Condominium in Singapore (file pic) |
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SINGAPORE: Singapore's investment property market seems to be shrugging off the global financial crisis and is staging a robust comeback.
Property consultant C B Richard Ellis said Singapore's investment market performed much better than expected in 2009. It said total real estate investment sales came in at S$10.2 billion.
While the figure is 43 per cent less than the S$17.9 billion number set in 2008, it is still better than an initial estimate of S$1.35 billion at the start of 2009.
But in the fourth quarter last year, total investment sales amounted to S$3.86 billion, a drop of 7.2 per cent from the previous quarter.
CBRE said the dip was due to the residential market taking a breather from the intense activity witnessed in the earlier part of the year.
Separately, property consultant DTZ said Singapore accounted for the bulk of investments flowing into Southeast Asia in the fourth quarter last year. It said 73 per cent of Southeast Asia's total transactional value of US$2.4 billion was due to Singapore.
DTZ noted that Singapore did well as it is the gateway to the region.
Most of the investments over the period were channelled into the residential sector, followed by the retail sector.
In Singapore, the residential market made up 57 per cent of the transactional value in the fourth quarter of 2009.
DTZ added that the real investment market in the region was driven mainly by domestic firms and private investors.
des_khor ( Date: 12-Jan-2010 16:34) Posted:
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