Neptune Orient Lines (HOLD; Target Price: S$1.35) Neptune Orient Lines (NOL) reported a 6 per cent YoY increase in container shipping volumes for the six weeks from 19 November 2011 to 30 December 2011. This was helped by the burgeoning intra-Asia traffic growth. However, the average revenue per forty-foot equivalent unit (FEU) fell by 14 ...
Cambridge Industrial Trust (BUY; Target Price: S$0.605) As part of the company’s efforts to recycle its capital for future investment opportunities, CIT has completed its divestment of 7 Ubi Close at S$18.7 million. This price is a 2.2 per cent premium to the latest valuation of S$18.3 million as at 31 December 2011.We view this ...
Cambridge Industrial Trust (BUY; Target Price: S$0.595) Cambridge Industrial Trust (CIT) released its FY11 results posting a gross revenue and distributable income of S$80.4 million and S$50.4 million. Net property income rose 6.2 per cent to S$69.1 million on the back of higher rental income which was partially offset by the loss of income from ...
Cerebos Pacific (Not Rated) Unlike many other firms, Cerebos has consistently maintained its track record of profitability and dividends even during the worst of economic downturns. In Australasia, it sells recession-proof staples such as sauces and gravies. In Asia, the company does not just sell plain liquid BRAND’s tonics but over the years, has added ...
Cache Logistics Trust (BUY; Target Price: S$1.13) Cache Logistics Trust (Cache) announced the acquisition of a 4-storey ramp-up warehouse in Changi North International LogisPark for S$35.18 million. The facility has a nice location in Changi North, which has limited upcoming competing supply, thus enjoying robust demand for space. The area caters to endusers operating in ...
CapitaRetail China Trust (HOLD; Target Price: S$1.31) 4Q11 gross revenue and NPI (net property income) grew by 20 per cent YoY to S$36.4 million and S$22.8 million respectively, partly due to contribution from Mingzhongleyuan, which was acquired in June 2011. Stripping that off, NPI (net property income) growth was still a healthy 12 per cent ...
Ascendas India Trust (BUY; Target Price: S$0.87) Ascendas India Trust’s (a-itrust) reported revenue and net property income (NPI) of S$30.6 million (+2 per cent YoY) and S$17.5 million (+3 per cent YoY). In India rupee terms, underlying operational performance was robust, with topline/NPI each growing by 19 per cent to Rs1.23 billion/Rs0.7 billion. Progressive recognition ...
Chip Eng Seng (OVERWEIGHT; Target Price: S$0.49) Management foresight and experience led to changes in Chip Eng Seng’s (CES) land acquisition strategy towards amassing commercial land for development for investment and steering away from acquiring land for residential property development for sale. Besides Singapore, CES is also actively sourcing for overseas opportunities to build up ...
Aztech Group (Not Rated) Aztech first proposed to diversify out of the electronics business, where it was doing fairly well between 2006 and 2008 with an earnings base of S$15-20 million. In 2009, it ventured into the marine transport and supply of construction materials business after buying a fleet of tugboats and barges. This worked ...
Boustead Singapore (BUY; Target Price: S$1.32) On 21 January 2012, Boustead Singapore entered into a proposed subscription agreement to purchase 50 million new shares in OM Holdings Limited (OMH), an ASX-listed company engaged in manganese mining operations in Australia, China and Singapore. Boustead sees a strengthening of the relationship been both companies in which Boustead ...
