Towards Financial Freedom
DBS Equity Research: Wired Daily 2 Apr 2015
Mapletree Logistics Trust - Optimising returns at Moriya Centre. A long-term growth story; HOLD, TP S$1.27
Mapletree Logistics Trust(MLT) has entered into an agreement with Nippon Express (existing tenant) to undertake an asset enhancement initiative (AEI) at Moriya Centre in Ibaraki, Japan. The planned AEI will be undertaken by MLT at an estimated cost of JPY1.4bn (S$16.2m). Post AEI, we will see a 26% increase in income-producing GFA. Nippon Express will lease the additional block till Dec 2021 ( c.5+ years), offering income visibility for MLT. While near-term growth is likely to be muted (due to weakness in rental performance in Singapore portfolio), we remain positive on the trust's long-term prospects with a sizable pipeline from Sponsor for MLT to acquire in the medium term. Maintain HOLD, TP S$1.27. MLT is a long-term growth story.
Noble Grouphas repurchased US$20m of the 3.625% medium term notes due 2018 and issued in March 2013. As of 1 April 2015, there will be US$380m in aggregate principal amount of the medium term notes outstanding. Mr. Oei Hong Leong intends to make a mandatory conditional cash offer for all the issued and paid-up shares in IPC Corporation at S$0.170 in cash per share. Mr Oei has approximately 30.56% stake in IPC.
CNA Group has signed a Letter of Intent (LOI) with Vietstar Airlines for a US$70m (approximately S$95.8m) Mechanical, Electrical and Plumbing (MEP) contract for a Multirole Terminal Complex for Vietstar Airlines on a 180,000 sqm site in Ho Chi Minh City, Vietnam. The Terminal is expected to be completed in approximately 18 to 20 months to be operational by early 2017.
IEV Holdingshas secured five new contracts under its Marine Growth Control Business Unit (MGCBU) for the supply of its proprietary Marine Growth Preventer (MGP) products and Oxifree corrosion prevention (Oxifree) products valued at an aggregate of approximately US$1.75m.
Cityneon Holdings has entered into an agreement to acquire 100% stake in exhibition producer, Victory Hill Exhibitions. The purchase consideration will consist of S$10m in cash, and the issuance of 45m new shares at S$0.20 per share. To partially fund the purchase consideration, the Company is proposing a 1-for-1 rights issue at S$0.18 per share.
First Ship Lease Trust has entered into a two-year time charter agreement with a prominent US domestic oil
company for the FSL Hong Kong, a 115,000 dwt crude oil tanker built in 2007. The new employment is anticipated to generate approximately US$16.8m of revenue over the next 24 months. This represents an increase of 47% on the time charter rate at which the FSL Shanghai was contracted for one year in June 2014. The increased rate reflects further recent improvement in the crude oil tanker charter market.
The Urban Redevelopment Authority (URA) has revised the methodology behind its private residential property price index (PPI), and expanded the data it covers as well. The revised approach addresses a major grouse with the earlier index by including sales data from stamp duty submissions to the tax authority. This means that the index now covers all private home transactions. URA had previously relied on caveats lodged with the Singapore Land Authority - nonmandatory legal documents that typically represented only 80% of all transactions.
Using the new approach, URA's first-quarter flash estimate of its PPI showed a 1.1% quarter-on-quarter fall in overall private home prices, following a similar drop in the fourth quarter of 2014. Back-testing of the current and revised index approach shows no change in the general direction of property price movements in the past.
China's official Purchasing Managers' Index (PMI) released by the government rose to 50.1 in March, up from 49.9. The gain in manufacturing activity reflects accelerated production activity after the Spring Festival holiday, while the government's recent measures to help growth have boosted optimism. A separate PMI survey compiled by HSBC and Markit came in at 49.6.
US stocks fell and treasuries gained as weaker-than-expected March ADP employment change (actual 189k, consensus 225k) and ISM manufacturing (actual 51.5, consensus 52.5) raised concerns about a weak economic recovery. Alcoa Inc. unofficially kicks off the earnings season when it reports results April 8. Analysts estimate 1Q profits for S&P 500 companies will decline for the first time since 2009, according to data compiled by Bloomberg. They had projected earnings growth for the period as recently as January.
Source: DBS
Related Stocks
| Chart | Stock Name | Last | Change | Volume |
|---|
Market Buzz
More articles on Towards Financial Freedom
Duty Free International Ltd. - A duty-free giant in the making
Created by kiasutrader | Oct 17, 2016
Cityneon Holdings - 'Avengers' showcasing in the Land Down Under
Created by kiasutrader | Jun 07, 2016
Discussions
Be the first to like this. Showing 0 of 0 comments
Post a Comment
Featured Posts
Latest Videos
Apps
Top Articles
1
Johor house best buy
2
CEO Morning Brief
3
CEO Morning Brief
DBS Shares’ 43% Rally Seen Having More Legs as Wealth Fees Rise
4
CEO Morning Brief
Singapore Post Shares Slide After CEO Fired Over Whistleblower Report
5
#
Stock
Score
Daily Stocks
Stock Name
Last
Change
Volume
Stock Name
Last
Change
Volume
Stock Name
Last
Change
Volume
Featured Advertisers / Partners
Ride The Bull Short The Bear
CS Tan
4.9 / 5.0
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....
