Highlights
SGX: OUE (LJ3)       OUE LIMITED
Last Price Today's Change   Day's Range   Trading Volume
2.03   -0.03 (1.46%)  2.03 - 2.20  457,700

Overview

Avg Volume (4 weeks):376,430
4 Weeks Range:1.93 - 2.20
4 Weeks Price Volatility (%):
37.04%
52 Weeks Range:1.68 - 2.20
52 Weeks Price Volatility (%):
67.31%
Average Price Target: 2.59
Price Target Upside/Downside: +0.56

Headlines

Date Subject
18-Sep-2017 Highlights From OUE Downtown Tour
04-Aug-2017 OUE Limited: Hit by Lower Reversal of Impairment Losses
12-Apr-2017 OUE Limited: Proposed Issue of S$200m Notes Due 2022
13-Mar-2017 Stamford Tyres, China Everbright Water, Triyards, Sing Holdings, OUE, Saizen REIT, CSE Global
11-Mar-2017 OUE withdraws from project to build South Korea's first foreign-owned integrated resort
06-Mar-2017 OUE has most opportunities for RNAV crystallisation, says Deutsche
21-Feb-2017 OUE's expansion into healthcare a strategic fit, says OCBC
20-Feb-2017 OUE Limited: Expanding into healthcare real estate
20-Feb-2017 Sabana REIT, OUE, UIC, Swing Media, Raffles Medical, AV Jennings
17-Feb-2017 OUE posts 7.7% fall in FY16 earnings to $144.4 mil on higher finance expenses, fair value losses
17-Feb-2017 UOB, CapitaLand, OUE, iFAST, SGX, SIIC Environment, Chip Eng Seng, Singapore O&G
01-Dec-2016 OUE establishes $3 bil multicurrency debt issuance programme
03-Nov-2016 OUE Limited: Strong execution, strong results
02-Nov-2016 OUE's 3Q earnings double to $108 mil on higher sales and one-off gains

Business Background

Overseas Union Enterprise Limited is engaged in hospitality services, property investment and investment holding. The Company has three segments: Hospitality, Property investments and Property development. Hospitality includes operation of hotels and hotel management in Singapore, China and Others. Property investments include rental income from investment properties owned by the Company. Property development includes sale of residential properties. On March 31, 2010, it acquired 1% interest in Meritus Shantou Hotel Co., Ltd. In June 2010, the Company, together with Meritus International Pte. Ltd., acquired Maritus Trademarks Pte. On September 30, 2010, it acquired Alkas Realty Pte. Ltd and DBS Building Towers One and Two. On November 1, 2010, the Company disposed Nicoll Development Pte Ltd and Oriental Grand Holdings Limited. On January 7, 2011, it acquired Imperial Development Holdings Pte. Ltd. On November 30, 2011, it acquired Reef Development Holdings Pte. Ltd.

  ultraman likes this.
 
Lansford Loo NAV per share of OUE C-REIT: $1.02 (unaudited Dec 2013)
Issue Price: $0.80 (discount of 21.8%)
Loss to sponsor, OUE on per share basis: -$0.10

Essentially, OUE trying to sell apart of their assets to the market cheaply. Thus this is the key reason why OUE drops.

So why did OUE C-REIT drop?
Reason why investors would buy REIT? For stable yields. Lets look at the yield quality of OUE C-REIT:
1. REIT manager: OUE. Can OUE get more properties for the REIT at discounted prices or get more yield accretive properties to justify the 0.3% base management fee + 25% performance fee?
2. Can OUE C-REIT sustain the 6.8% yield they claimed on the front page of the prospectus?
(see pg 42) without income support the yield drops to 5.56%
(see pg 85) net income S$32, but pay S$47m in distribution using unit-holder contributions? what you pay for, they just return it straight to you? [note: stable yield prob only 2-3%]
stabilizing manager? or price support manager? c.5% of the units can be utilized in stabilization.

looks like if you're participating the IPO, you are banking on the work of the stabilizing manager.


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28/01/2014 08:34


 

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