Ascott Residence Trust (BUY; Target Price: S$1.34) Revenues and gross profits grew by 57 per cent and 89 per cent to S$73.0 million and S$40.0 million respectively, largely fuelled by revenues from 28 serviced residences acquired in October 2010 which offset the loss of income arising from divestments. NPI (net property income) margins improved to ...
Boustead Singapore (April 11: BUY; S$1.33) Boustead added about S$150 million worth of new contracts to its orderbook. This excludes two other design-build-and-lease projects, which we estimate would add about S$2 million to its annual recurring income once completed. However, we are adjusting our order win assumptions for the Real-estate Division to S$200 million per ...
Unit consolidation. Frasers Commercial Trust (FCOT) commenced trading its 5:1 consolidated units on Feb 8, with an opening price of S$0.855 and then closed 1.2 per cent higher at S$0.865. The market appears to have welcomed the unit consolidation move favourably. Its trading volume that day was 2.21m shares, compared with its average daily volume ...
ASL Marine: Waiting for Improvement in Market Conditions Waiting for new shipbuilding orders. ASL Marine’s (ASL) order book has fallen to about S$303 million in 1QFY2011, less than half of its order book level of S$693 million in 4QFY2008. The order book of 50 vessels should sustain the Group’s shipbuilding opera- tions till only early ...
