Highlights
Social Forum >> Forum Thread
Last Price Today's Change   Day's Range   Trading Volume
9.65   -0.10 (1.03%)  9.63 - 9.78  1,227
6 comment(s). Last comment by ytoh1688 at Feb 13, 2015 10:18 AM
Like
 Ruth Lim likes this.
 
 Post Reply   Back  
Page 1

talk2pkc
1 post

Posted by talk2pkc > Dec 11, 2012 10:27 PM | Report Abuse

Delta Air to pay SQ for Virgin Atl shares of 49% - US$360M , wld it share with shareholders ????


Ruth Lim
4 posts

Posted by Ruth Lim > Apr 14, 2014 1:03 PM | Report Abuse

BUY SINGAPORE AIRLINES LTD ABOVE 10.340 TG 10.440, 10.560, 10.700 SL 10.220. www.epicresearch.sg


ytoh1688
6 posts

Posted by ytoh1688 > Feb 13, 2015 9:56 AM | Report Abuse

http://www.fool.sg/2015/02/10/at-what-price-would-benjamin-graham-buy-singapore-airlines-ltd/


ytoh1688
6 posts

Posted by ytoh1688 > Feb 13, 2015 10:18 AM | Report Abuse

From Goldman Sach Feb 9th

What surprised us On February 6, Singapore Airlines (SIA) reported 3QFY3/15 results. Preexceptional net profit came in at S$202 mn, in line with both our and Bloomberg consensus estimates of S$214 mn and S$197 mn, respectively. During the quarter, SIA&rsquo s post fuel uplift cost declined by 1.9% yoy (vs 26% yoy decline in jet fuel price) mainly due to significant fuel hedging which reached 65% jet fuel consumption at an average price of US$116/bbl, resulting in hedging losses of S$216 mn.

What to do with the stock SIA Cargo&rsquo s margins rebounded in 3Q, improving 2.9pp yoy or 6.2pp qoq to 3.1%, and bucking an average 4.2% yoy decline in the last three quarters (Exhibit 1). Cargo load factors improved 1.6pp yoy but the major contribution was from a lower fuel price environment. Meanwhile, EBIT margins for the passenger segment declined 1.2pp yoy to 3.9% driven by a lower load factor of 78.3% (-1.1pp yoy). Looking ahead, we think passenger booking for calendar year 1Q15 could recover somewhat as traffic to/from Southeast Asia recovers during Chinese New Year. However, we expect yield pressure to persist throughout calendar 2015, due to significant discounts offered by Middle Eastern carriers and LCCs on long-haul routes to fill seats. We maintain our Neutral rating on the stock. Our 12-m EV/GCI vs. CROCI/WACC-based TP of S$9.60 is unchanged (target EV/GCI multiple 0.49X derived from an average FY3/16E CROCI of 9.1%). Key risks: Upside: Stronger-than-expected cargo demand. Downside: Sharp increase in oil prices.



3/14 3/15E 3/16E 3/17E

EPS (S$) 0.39 0.37 0.45 0.46

EPS growth (%) 14.1 (4.5) 21.7 1.2

EPS (diluted) (S$) 0.30 0.37 0.45 0.46

EPS (basic pre-ex) (S$) 0.40 0.37 0.45 0.46

P/E (X) 26.3 32.5 26.7 26.4

P/B (X) 0.9 1.1 1.0 1.0

EV/EBITDA (X) 4.7 5.7 6.1 6.4

Dividend yield (%) 4.6 1.6 1.9 1.9

ROE (%) 2.7 3.3 3.9 3.9

CROCI (%) 10.5 9.2 9.1 9.0

 Post Reply   Back  
Page 1
 

145  120  212  624 

ActiveGainersLosers
Top 10 Active Counters
 NameLastChange 
 YZJ Shipbldg SGD 1.55-0.04 
 Rex Intl 0.08-0.001 
 China Everbright 0.49+0.10 
 Spackman 0.025+0.002 
 CapitaMall Trust 2.36+0.04 
 China Medical 0.0020.00 
 Kep Infra Tr 0.4750.00 
 KrisEnergy 0.051+0.001 
 Nico Steel^ 0.0050.00 
 TEE Intl 0.111-0.001 
Partners & Brokers