Search Results for: ipo

Oxley Holdings Ltd – a decent set of FY2012 results but was disappointed in the stock split and rights issue……

Oxley Holdings Ltd – a decent set of FY2012 results but was disappointed in the stock split and rights issue…… Wednesday, 29 August, 2012  1:50 PM Posted by Kevin Scully No major surprises in the 2012 results  I have liked Oxley Holdings since its IPO and especially after management executed their plans and sold more than S$1.3bn in property to be recognised over the next few years.  A change in accounting treatment for the recognition of property income, ie progressive for residential and on completion for industrial and commercial affected Oxley’s profit recognition and by default its dividend payout....

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Far East Hospitality Debut – Above Expectations

Far East Hospitality Trust listed on SGX mainboard on 27th Aug, 1 day ago, to a end day closing price of S$0.95. That represented a jump of 2cents from its IPO offer price. The ‘pop’ was also quite considerable considering that it reached a high of 0.98 before closing at 0.95. Today, the stock saw further buying pressure to close at $0.975 with a high of $0.98. That represents a 4.83% gain from IPO offer price of $0.93. Pretty impressive debut for a REIT-styled counter factoring into consideration that its IPO was priced on the top of the indicative...

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Far East Hospitality Trust Balloting Results

Far East Hospitality Trust released its balloting results this evening. The response was pretty good with the public tranche 14.6x oversubscribed and even the over-allotment of 65.9m shares were exercised, which means the stabilizing manager will step in should share price falls below 93c. The balloting table are presented below for your convenience. The probability of getting the shares are pretty good at 40% or better. My balloting results I have another 4 lots from placement tranche, looks like a good IPO year for me? Happy...

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How Low Can Facebook (FB) goes?

Is it good time to buy Facebook now after dropping 50% since the IPO? Personally I don’t feel it is the right time to long the stock yet base on both Technical and Fundamental Analysis. However, it is a RIGHT time to short Facebook instead because fundamentally FB is over value and technically FB is bearish and continue down trend without any support base on history! So, how low can Facebook go and when is the right entry level? Hmmm… I don’t have the answer and I will let the chart to tell me. Technically Facebook has broken the...

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Far East Hospitality Trust

Far East Hospitality Trust (“FEHT”) is a Singapore-Focused Hotel and Service Residence Hospitality Trust. An update from an earlier blog posting, FEHT has priced its offering at the highest end of the range of 93 Singapore cents.The final prospectus is here if you need it. The initial portfolio will consist of 11 properties of seven hotels and 4 service apartments. The Sponsor is part of the Far East Organization. FEHT’s Market share It is interesting to see the diagram on the left where it declares itself as having a leading market share for both service residences and mid tier...

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Healthway Medical Corp Ltd – Turnaround probably not in the short term

Healthway Medical Corp is one of the few companies in the healthcare sector listed on the SGX, operating the biggest clinic network in Singapore. Other than operating GP clinics and dental services, they are also involved in specialist & wellness healthcare division which is involved in Paediatrics, Orthopaedics and Aesthetic Medicine. Figure 1 – Income Statement FYI, 2005 to 2007 results are PRO FORMA results found from the IPO prospectus and hence might differ from the actual figure that you see from the FY 2008 annual report. In fact, the pro forma result in 2007 is the highest level...

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Straco nearly doubles quarterly profits

Straco Corp announces their Q2 2012 profits. You can view the results [here]. It would seem that since IPO in early 2003 they have been profitable every year. The great thing about Straco is that they do not need much maintenance capital expenditure. And if they need, they are funded by interest income from their huge cash holdings. Recently, they started buying back shares. This is also a form of rewarding shareholders, but if they are trading higher then net asset value I wonder if it is really a good way of rewarding us. They are earning roughly 13%...

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My views on Far East Hospitality Trust

Some time back ago, I received a query from a reader asking for my views on Far East Hospitality Trust IPO. As mentioned in one of my previous posts, normally I refrain from giving advices on IPO, especially business trusts or REITs. I must admit that my knowledge in business trusts and REITs is lacking. But then again, investors needs to understand that business trusts and REITs are very different from shares trading in the stock market. The structure and nature of the business model can be quite complicated for the man in the street to comprehend. For example, investors need to...

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Far East Hospitality Trust (Preview)

I took a quick glance at the draft IPO prospectus. Just the structure alone, its is much better than the Ascendas Hospitality Trust where all the hotels are parked under the Hotel Reit and not under the business trust. According to the email, the price will range from 86c (6% annualised yield) and 93c (6.5% annualised yield) for FY 12E. The presence of reputable cornerstone investors are also very reassuring and it will be them who will dictate the pricing. CDL H-Trust is trading at 5.7% yield and Ascott Residence Trust is trading at 7.2% yield. In this regard,...

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Heads up – Far East Hospitality Trust

Received this email from my OCBC broker yesterday. Need to do some homework this weekend.  Dear All We are pleased to announce the Initial Public Offering of Far East Hospitality Trust on SGX-ST (the “IPO”).    OCBC Bank is one of the four Joint Bookrunners and Underwriters for the IPO. The other Joint Bookrunners and Underwriters are Goldman Sachs, HSBC and DBS. Do contact me if you are keen in indicating your interest in the IPO of Far East Hospitality Trust on SGX-ST. The order books for Far East Hospitality Trust placement tranche are now open. Indicative book closure...

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My Investment Portfolio (July 2012)

July 2012 turns out to be another good month for investors. STI closed the month above 3000 points, as investors came back into the market. There are two high profile IPOs this month on SGX – IHH Healthcare and Ascendas Hospitality Trust. For this month, I have attended the following AGMs/EGMs/briefings – NeraTel, CitySpring, Orchard Parade, SMRT, Valuetronics, AI-REIT, The Hour Glass, AIMS AMP Capital Industrial REIT, Jason Marine, Bukit Sembawang Estates, Meiban, MTQ Corp, Old Chang Kee, Eastern Holdings, Fischer Tech, Singapore Windsor and GP Industries. For my top 30 holdings, new entries include Isetan(S) and Old Chang...

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Reaching for higher yields–be aware what you wish for

In this world where your fixed deposit rates are close to zero percent, it is easy to reach for REITs and business trust yielding more than that. Recent IPO of Ascendas hospitality trust and  outperformance of almost all REITs may have been the direct result of this. There are a few things to take note when reaching for higher yielding instrument. Yield is to compensate for the Risk borne In finance, you often hear risk versus reward. If you put in a larger amount of risk, you should demand more reward. Many like these REIT because they have yields...

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Ascendas Hospitality Trust: Am I interested?

Over the weekend, a friend asked me if I would be interested in Ascendas Hospitality Trust although he knew that I am generally not interested in IPOs. He was just asking for my thoughts on the Trust. Ariake Sunroute Hotel, Japan. Ascendas Hospitality Trust (A-HTrust) will be offering 437.33 million stapled securities at 88 cents each for mainboard listing in its initial public offer (IPO) in Singapore. (Source: The Business Times, 18 July 2012) What are stapled securities? Stapling simply means that two different securities are “stapled” together for the purposes of trading or transfers. Stapled security could comprise...

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SGX in merger talks with LSE according to the Daily Telegraph of London…….does it make sense and what form can it take ?

SGX in merger talks with LSE according to the Daily Telegraph of London…….does it make sense and what form can it take ? Friday, 20 July, 2012  3:5 PMPosted by Kevin Scully  There have been reports that the SGX is in discussions with the LSE on a possible merger – the source was apparently an interview with the CEO of the LSE, Xavier Rolet, in an interview with theDaily Telegraph in London. I think global stock exchanges are all lobby for IPOs to be listed in their respective markets especially if there is no domestic source of big companies....

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