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Huat ah :)
risktaker ( Date: 08-Oct-2009 19:57) Posted:
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btw, whats the TP for this counter?
Blastoff ( Date: 14-Oct-2009 14:13) Posted:
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Capitaland moving.....
woahh, what happened in the last mins?... sudden huge vol.
take profit liao..
price broke through upper bollinger band and now in RSI overbought region
to come back for this counter at a later date
its not moving much these few days...
intraday day possible reversed H&S
more to come dont sell yet :) For those who havent yet enter .... still can Buy :)
WeiQiQi ( Date: 08-Oct-2009 16:25) Posted:
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This is a really 'big lot' buy up... a cool $4,079,400/=
| 15:59:35 | 3.900 | 1,046,000 | Buy Up |
price poking upper band.
RSI not overbought.
con't.....
CapitaLand is planning to capitalise CMA with a very low initial gearing with NAV of $5.3 billion.
Assuming that CapitaLand divests a 30% stake in CMA in the spin-off at the latter’s net book value, the group’s gearing would drop from 0.47x (as at end Dec 08) to 0.3x on management's proforma calculations, says JPMorgan’s research report on Oct 5.
“We estimate the group would have additional investment capacity of up to $8.5billion if the CMA spin-off is approved and it gears up to the upper range of its stated optimal gearing range of 0.5-0.75x,” says JPMorgan.
Depending on the valuations ascribed to the spin-off, the group could record an exceptional gain on divestment, as well as potentially attract a revaluation of a significant part of the group's asset base, says the US investment bank. CapitaLand's shares are trading at 1.24x book value at present, permitting some potential for a re-rating if the spin-off allows the underlying business value to become more apparent to the stock market, it adds. The group has a track record of declaring special dividends from part of the proceeds of
significant divestments in the recent years.
“We believe continued restoration of real estate capital markets should help the market to better price the intangible value of the group's real estate funds platform and allow a resumption of the group's capital recycling business model, thus permitting the closure of the discount to RNAV,” concludes JPMorgan.
JPMorgan calls an ‘overweight’ on CapitaLand, raises price target to $5 Tags: Capitaland Written by The Edge Tuesday, 06 October 2009 10:39 Share this Digg Del.icio.us StumbleUpon Netscape Yahoo Technorati Googlize this FacebookExport PDFPrintE-mail JPMorgan’s Asia Pacific Equity Research team has called an “overweight” on CapitaLand (CATL.SI, CAPL SP) and upgraded its Dec 10 price target to $5 from $4.30, based on its RNAV estimate of $4.96/share. CapitaLand, Southeast Asia’s largest developer, has proposed to spin off and list its integrated shopping mall business (including the retail real estate funds management platform and sponsor stakes in CapitaMall Trust and CapitaRetail China Trust) on the Singapore Exchange. The group intends to retain majority control in CMA if the proposals obtain the requisite regulatory and shareholder approvals. CapitaLand is planning to capitalise CMA with a very low initial gearing with NAV
Seemed to me they are playing with the numbers' game again - and making the investment banker very happy.
Is the CEO under any serious pressure, given that his bonus declared last year is payable over a period of 3 years and subject to certain performances?
Kassanne ( Date: 05-Oct-2009 11:57) Posted:
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I will switch out of my Capmall Reits and add into my existing Capland position.
Reason being the strategy now seems to be reducing gearing on Capland while loading CapMall Asia with the debt.
How capmall asia will handle the debt?
Well, push any assets from capmall into Capmall reits (the china one and the sg one) and that means more debt for the reits..
more rights issue..
Moves up fast, come down also fast.
Finally moving....
Trading half has been lift liao, so many good news annouce by today..tomorrow this counter will bounce back.
Will IPO that could raise $1B contribute towards shareholders value? Lets say if the book value is $1 and IPO at $1.20 on 30% of the subsidiary shares, then the company would generate 20 cents premium for shareholders.
And if after IPO the price move to $1.80 or even higher then remaining 70% stake would benefit. And should Capitaland share prices move higher at the same time? There may be more transparency in the pricing but definietly makes Capitaland shares more speculative.
Definitely the financial re-engineering will unlock subsidiary company value and generate one time extra-ordinary profit. The saga of rights issue followed by convertible bonds issue then sudsidiary IPO is beginning to fill up the whole picture of a master plan. Building up equity then build up debt then create more shareholders value.....What more to follow?
Genius
Wonder how the market will react acting trading halt is lifted as market in general is going through a correction.
Kassanne ( Date: 05-Oct-2009 11:57) Posted:
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SINGAPORE - CapitaLand, Southeast Asia's biggest developer, is 'comfortable' with floating 20-30 per cent of its shopping mall arm, its Chief Financial Officer Olivier Lim said at a briefing on Monday. The firm earlier said its subsidiary CapitaLand Retail Limited had won approval from the Singapore Exchange to list its shares on the stock market. Sources said the initial public offering could raise at least US$1 billion. -- REUTERS
How will this affect the price of Capitaland?
Proposed IPO of Capitamalls Asia.