Towards Financial Freedom
DBS Equity Research: Wired Daily 20 May 2016
- Yoma Strategic - All guns ablazing
- Soilbuild Business Space - writ of summons to tenant for non-payment of rent
- UOL Group - buys London property for £98.75m
- KSH Holdings - award term contract by NUS
- Technics Oil & Gas - contract to build liftboat Lapsed
Stocks to Watch
Yoma Strategic Holdings (YOMA SP): BUY
Last Traded Price: S$0.52; Price Target: S$0.78 (Upside 50.6%) (Prev S$0.78)
All guns ablazing
• 4Q16 results in line; driven from improvements in all business segments
• To capitalise on the improved real estate sentiment by launching new units across Star City and Pun Hlaing Golf Estate
• KFC to hit 12 stores by end of FY2017
• Maintain BUY, TP S$0.78
Soilbuild Business Space REIT (SBREIT SP): BUY
Last Traded Price: S$0.70; Price Target: S$0.84 (Upside 19.7%)
Writ of summons to tenant for non-payment of rent
• Issues writ of summons to Technics Offshore for non-payment of rent
• Management has safeguards in place - 18-month deposit to shield any downside to earnings
• Sufficient time in our view to re-position the property in the worst-case scenario
News
UOL Group - buys London property for £98.75m
UOL Group has inked a deal to buy a London property for £98.75m (S$199m) from UBS Central London Office Value Added Fund. The property, 110 High Holborn, is near London's Holborn tube stop near the West End, and consists of offices and retail space.
KSH Holdings - award term contract by NUS
KSH Holdings has entered into a term contract awarded by National University of Singapore (NUS) for addition and alteration works within NUS for a period of 24 months with effect from 16 May 2016 to 15 May 2018 with an option to extend for a further 12 months to 15 May 2019 if NUS exercises the option.
Technics Oil & Gas - contract to build liftboat lapsed
Technics Oil & Gas announced that the contract to construct liftboat awarded last year has lapsed and become null and void. This is due to non-fulfilment by the parties of a clause in the contract specifying the contract's effective date.
Source: DBS
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