Towards Financial Freedom
Keppel Land - Reflections of Strength (Buy, TP SGD4.04)
Earnings led by Reflections. KepLand reported a 2Q12 PATMI of SGD94.7m, as profits grew 88% YoY driven mainly by further profit recognition from units at Reflections at Keppel Bay which were sold under the deferred payment scheme. 1H12 PATMI rose 76.8% YoY to SGD236.6m, or 65% of consensus full-year estimates, but we think broadly in line with expectations due to the lumpy nature of earnings. With its sales in China showing signs of improvement, we maintain our BUY recommendation.
Source: Maybank Kim Eng
Source: Maybank Kim Eng
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CS Tan
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
