Wing Tai    Last:1.17    +0.03

Wing Tai

For those of you who can see the counter-party trades, to "follow" ang-mohs banks had proven to be very profitable. If you can trust your brokers/remisers, tell them to give you a call once they saw BN_ or ML buying or selling...

 

Nah... we can't fight the manipulators. But we can "follow" them.

TA is a great tool to spot them in action by looking for divergences or convergences in prices and charts!

 

Sorry, no offence to the "manipulators" but it is a fact that their deep pockets are lined with margins and holes, more big ones, juz that we can't see them.  

 

hello... the manipulators you're talking about have deeper pockets than any of us here.

 

Congratulations for fighting back at the "manipulators" who are out to "bluff" the "man-in-the -street".  Can  the "manipulators" afford to hold onto the shares when the price dips ? Doubt they can coz' the "friendly" banks will make their margin calls sooner than later when  the price dips.  Good luck to the "manipulators" !!!   

 

Just cashed out on this one with some profits.  :)

Its on a downtrend now.

 

I use the same indicators all the time..... When I bought into the stock at 2.06, all indicators were bullish.

Currently, you're right... the Chaikin is starting to turn down and this has made me alert.

But I will only cash out when the price starts to downturn.

 

Hi singaporegal, moreover William showing overbought. Which indicators u used for this counter?

 

Hi singaporegal, moreover William showing overbought. Which indicators u used for this counter?

 

Hi singaporegal, A/D Lines and Bollinger showing uptrend but Chaikin showed gradually downtrend while price still up (convergence?) and Stochastic showing the start of a trend reversal which is downtrending. 

 

I'm vested in this at 2.06

 

This one is on uptrend

 

DBS Vickers has lifted its target price to $2.30 from $2.17 because it expects the property developer to benefit from rising demand for high-end residences and offices.



"With high-end property prices and prime office rents on an uptrend, this will underpin Wing Tai's growth in revenue for the years to June 2007 and June 2008," DBS Vickers said in a note to clients.



"Given its focus in the best-performing office rental and high-end residential sectors, Wing Tai is well positioned to benefit from the market upturn," it said.



DBS expects Wing Tai's net profit to rise to $149.1m in the year to next June from $128m in the year to last June, and to $208m in the year to June 2008.

 

Sigh... waited too long for this one. Now its overbought...

I was keeping track of this 3 days ago already.

 

Wing Tai cheong today!

 

It is optimistic about the high end luxury residential market. This is mainly due to robust foreign demand and Singapore's comparatively lower prices (relative to major international cities like Hong Kong). The mid-end market is also expected to pick up as more projects will be launched in the coming months.



As KE have raised our estimates of Wing Tai's selling prices for their upcoming property launches by 5-10%, their earnings forecasts have also been raised by 17% for FY08 and 12% for FY09. This consequently raises their RNAV and fair value for Wing Tai by 12.5% to $2.35 from $2.09 previously.

 

Citigroup has increased its price target to $2.28 from $2.15 after factoring in valuations from its new residential site.



Wing Tai announced yesterday it will buy freehold residential development Ardmore Point, with a site area of 60,534 square feet, for $201m for redevelopment.



"Assuming a selling price of $2,300 per square foot, we estimate that the pretax profit from the project is $71m, and it should add 7 cents per share to RNAV," Citigroup said in a client note.



It said it raised its price target for the stock to also reflect its view of higher office capital values for Wing Tai's Winsland House I and II.



"Wing Tai, in our view, provides the best exposure to the upper mid-tier residential properties in Singapore," it said.

 

Wing Tai expects its earnings to be underpinned by a sustained upturn in the property market, but said it will continue to diversify outside the city-state.



Wing Tai Deputy Chairman Edmund Cheng said that Singapore would account for just half of group assets in the long term, down from 70% currently, as the company expands its property business in Hong Kong, Malaysia and China.



"In five years, we should be able to achieve 60%" for Singapore, Cheng told Reuters.



Cheng said Singapore's property market was not only enjoying a cyclical recovery but was attracting more international investors from countries such as Japan and Europe. In the past, most of the foreign investors came from Indonesia.



"These days, more than 50% of the buyers are foreign and they are not just from one or two neighbouring countries but are very diverse," he said.



The entry of these international investors would help prolong the rise in property prices, Cheng added.



In July 2005, Singapore eased rules on property financing and acquisitions by foreign investors, a move which has helped boost returns for Wing Tai and rivals such as Allgreen and City Developments.



"If sentiment continues to be strong, we will be looking to achieve the same level of profits," Chief Operating Officer Tan Hwee Bin told Reuters.



Tan also said Wing Tai planned to increase its level of debt to take advantage of low borrowing costs, and could raise its gearing ratio to up to 1.2x.



"As of 30 June 2006, our gearing level was at 0.7x, the lowest in the last 10 years," Tan said.



Wing Tai's retail arm includes the G2000 and U2 clothes chains which are widespread across Asia.

 

It expects net profit in its fiscal year to the end of June 2007 at around the same level as a year ago, an executive of the Singapore-listed property developer said.



"If sentiment continues to be strong, we will be looking to achieve the same level of profits," COO Tan Hwee Bin told Reuters in an interview.



Analysts polled by Reuters Estimates had forecast the company to report $120.7m in net profit for its fiscal year to the end of June, down from $128m last year.



The company, which controls USI Holdings in Hong Kong and DNP Holding in Malaysia, is reaping the benefits of a resurgent real estate market in Singapore, where some luxury homes have sold at prices not seen since before the Asian financial crisis.

 

It has raised its stake in Suzhou Property Development Pte Ltd to 55 percent, from 35%, by buying 200,000 ordinary shares in the firm for $11.1m.



It is close to buying a freehold apartment block, Admore Point, for about $200m for redevelopment , the Business Times reported.



The newspaper said the price is the equivalent of $1,358 per square foot of potential gross floor area.



Wing Tai could build a new condominium with 95 apartments, averaging $1,800 square feet each, with a break-even price of $1,800 per square foot or more, the newspaper quoted analysts as saying.