Asia: Markets track Wall St up, US jobs in focus

Asian markets rose on Tuesday, with Tokyo recovering from initial losses as expectations of a US interest rate hike and talk of more Japanese monetary easing pushed the yen down against the US dollar.

After Monday's sell-off across most markets, fuelled by the prospect of higher US borrowing costs, investors returned to buying, buoyed by a rally on Wall Street as another batch of data indicated improvement in the world's top economy.

Bets on a rate hike this year have soared after Federal Reserve boss Janet Yellen last week said at the Jackson Hole symposium of central bankers the "the case for an increase in the federal funds rate has strengthened in recent months".

Attention now turns to the release next Friday of the closely watched jobs report, which will be used as a guide in judging whether the bank will move sooner than later.Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg

Read More

Singapore shares open 0.6% up on Tuesday

SINGAPORE stocks opened 0.6 per cent higher on Tuesday, with the Straits Times Index rising 15.58 points to 2,845.01 as at 9am.

The blue-chip index was buoyed by market sentiment recovering from Fed rate hike fears.

About 41 million shares worth S$31.5 million in total changed hands, which worked out to an average unit price of S$0.77 per share.

Top stocks by value traded were HTL International, Singtel, ComfortDelGro, Hongkong Land and City Developments.

Gainers outnumbered losers 92 to 48, or about two up for every one down.Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg

Read More

Stocks to watch: GL, Ezion, Healthway

THE following companies made material announcements before the opening of Tuesday's market:

Property group GL Ltd, the former GuocoLeisure, reported net profit shot up 41 per cent to US$67.6 million from the year-ago period.

Liftboat operator Ezion Holdings has adjusted its second-quarter results down US$11.7 million following the additional impairment of property, plant and equipment and intangible assets of an associate.

Clinic operator Healthway Medical Corporation agreed to issue up to 133.3 million new ordinary shares at three Singapore cents each to raise net proceeds of about S$3.75 million.Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg

Read More

Taiwan: Stocks rise on bargain hunting as financials recover

Taiwan stocks rose on Thursday on bargain hunting after recent lows, with shares in Mega Financial, the focus of a local probe by prosecutors, rising for the first time in five sessions.

As of 0153 GMT, the main Taiex index rose 0.5 per cent, to 9,060.28, after closing 0.2 per cent lower in the previous session.

The electronics subindex rose 0.7 per cent, while the financials subindex gained 0.9 per cent.

Among active counters, Mega Financial was up over one per cent.

After being hit by a rare fine in the US for anti-money laundering violations, local prosecutors earlier this week began their own investigation on whether the financial giant broke any local criminal laws.

The Taiwan dollar firmed T$0.017 to T$31.755 per US dollar.Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg

Read More

Yoma’s 1Q17 earnings drop 28.6% to $1.8 million on softer property-related sales

Myanmar-focused business conglomerate, Yoma Strategic Holdings, reported a decrease in earnings to $1.8 million for the three months ended 30 June 2016 in 1Q17.

Revenue fell 22.4% to $17.6 million in 1Q17 from $22.7 million in 1Q16. The bulk of Yoma’s revenue was driven by the group’s consumer and automotive & equipment businesses, as well as from investment properties, which offset the lower revenue from its sales of residences and land development rights.

Revenue from the group’s non-real estate businesses recorded a 37.2% growth to $9.6 million. The group’s Case New Holland business contributed $5.6 million or 58.6% of its non-real estate revenue. The group’s fleet leasing business expanded to 359 vehicles under lease with growing demand from organisations expanding their operations in Myanmar. The group’s KFC business also continued its growth momentum with two new stores openings in April and June which brought the total store count to six as at end of June 2016.

Other income increased to $11.8 million in 1Q17 from $1.6 million in 1Q16, mainly driven by the fair value gain of $10.3 million from the group’s telecommunications towers investment.

Administrative expenses increased to $12.6 million in 1Q2017 as compared to $8.4 million in 1Q2016. The increase was mainly due to higher staff cost.

“The real estate market remained sluggish but is seeing signs of recovery, and we have received encouraging feedbacks from our recent launch of the townhouses in Pun Hlaing Estate,” says Melvyn Pun, CEO of Yoma.

“The real estate market remains a bit uncertain as the new government introduced its policies for the sector, although there are signs of a recovery from last year’s slow down. I am confident that the long term outlook for the country and its economy, and in turn, Yoma Strategic, remains bright.”

Yoma last traded at 60 cents on Monday.

Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg

Read More

AA REIT posts 1Q DPU of 2.75 cents

The manager of AIMS AMP Capital Industrial REIT (AA REIT) has announced a DPU of 2.75 cents for the 1Q ended June, unchanged from the same period a year ago.

Gross revenue came in at $29.2 million in the first quarter, thanks to a property tax refund of $1.1 million. Net property income improved by 1.0% to $20.4 million compared to a year ago while distribution to unitholders was $17.5 million.

CEO Koh Wee Lih of AIMS AMP Capital Industrial REIT Management Limited, AA REIT’s manager, says: “We increased net property income with proactive asset and lease management focused on managing cost while maintaining prudent gearing of 33.1%, and continued on our strategy to unlock organic growth from our portfolio. Our redevelopments at 30 & 32 Tuas West Road and 8 & 10 Tuas Avenue 20 are tracking on time and budget and will further grow our portfolio value upon completion.”

As at end June, approximately 67% of AA REIT’s redevelopment at 30 & 32 Tuas West Road has been completed. Upon completion, the property will boost annual rental income four-fold to $4.15 million which is already 100% pre-committed. Meanwhile, demolition work at 8 & 10 Tuas Avenue 20 will be completed by end of this month, with the target completion in 2H of 2017.

In its outlook, AA REIT, which has a diversified portfolio of income-producing industrial real estate located throughout the Asia Pacific, will continue its proactive approach in managing its assets and leases to help navigate the short-term volatility and these challenging market conditions

Units of AA REIT closed 0.3% higher at $1.465.

Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg

Read More

MapletreeLog, PLife, Yoma, Noble, Katrina, Fortune REIT

Here are some stocks that could move the market this Tuesday morning:

Mapletree Logistics Trust (MLT) has posted a distribution per unit of 1.85 cents for 1QFY2017, unchanged from the DPU declared in 1QFY2016. For the quarter to June, revenue rose 5.3% to $89.6 million with the full contribution from three properties acquired in Australia, Vietnam and Korea in FY2016. The group also recognised revenue from the completed extension building in Moriya Centre in Japan and higher revenue from existing properties in Hong Kong. Units in MLT closed at $1.06 on Monday.

Parkway Life REIT (PLife REIT) has declared a 2Q DPU of 3.01 cents, which is 10.2% lower than the DPU of 3.35 cents a year ago. This was due to the absence of one-off distribution of divestment gain recorded for the corresponding period in 2015. PLife REIT closed 1.59% higher at $2.55 on Monday.

Yoma Strategic posted a 28.6% drop in 1Q earnings to $1.8 million from $2.6 million a year ago. Revenue fell 22.4% to $17.6 million from $22.7 million. This revenue was largely driven by the Group’s Consumer and Automotive& Equipment (Non-Real Estate) businesses and its rental revenue from investment properties, which offset the lower revenue from its sales of residences and land development rights (LDRs). Yoma closed at 60 cents.

Noble Group says valid acceptances for 6.3 billion shares and excess applications for 5.1 billion shares representing 95.7% and 78% of the total rights shares available for application were received at the close of the rights issue on July 21. As applications were received for a total of 11.4 billion rights shares out of the 6.5 billion rights shares available for subscription, Noble’s rights issue was 173.7% subscribed. Shares of Noble closed 1.8% lower at 17 cents.

Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg

Read More

SGX Singapore Opening Market Update : Epic Research Singapore

SINGAPORE share prices opened lower on Tuesday with the Straits Times Index down 18.59 points or 0.63 per cent to 2,911.26 as at 9.01am. Wall Street closed lower overnight.

Top losers in early-morning trade included UOB and DBS.

Some 55.7 million shares worth S$60.6 million changed hands, with losers outnumbering gainers 70 to 54.

Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg

Read More

SGX Singapore Closing Market Update : Epic Research Singapore

CAUTION reigned on Monday ahead of central bank meetings in Japan and the United States this week.

Singapore stocks finished 0.5 per cent lower in the session, with the Straits Times Index dropping 15.5 points to 2,929.85.

About 923.6 million shares worth S$941.5 million in total changed hands, which worked out to an average unit price of S$1.02 per share.

The most actively traded counter was Annica Holdings, which was flat at S$0.001 with 51 million shares changing hands. Other actives included QT Vascular and Spackman Entertainment.

Losers outnumbered gainers 229 to 172, or about four down for every three up.

Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg

Read More

SGX Stock Recommendations : Epic Research Singapore

MARKET UPDATES :

• The Straits Times Index (STI) ended 4.87 points or 0.17% higher to 2945.35, taking the year-to-date performance to +2.17%.

• The top active stocks today were Singtel, which gained 1.66%, DBS, which declined 0.06%, Wilmar Intl, which declined 0.97%, UOB, which gained 0.26% and ComfortDelGro, with a 1.73% fall.

• The FTSE ST Mid Cap Index declined 0.84%, while the FTSE ST Small Cap Index declined 0.24%.

• The outperforming sectors today were represented by the FTSE ST Telecommunications Index, which rose 1.48%.

• The two biggest stocks of the Index – Singtel and StarHub – ended 1.66% higher and remained unchanged respectively.

• The underperforming sector was the FTSE ST Oil & Gas Index, which slipped 1.45%. Keppel Corp shares declined 1.43% and Sembcorp Industries declined 0.35%.

• The three most active Exchange Traded Funds (ETFs) by value today were : Nikko AM Singapore STI ETF (-0.33%) ,SPDR Gold Shares (+0.21%) ,DBXT MSCI Taiwan ETF (-0.59%).

• The three most active Real Estate Investment Trusts (REITs) by value were : Ascendas REIT (+1.61%) ,Suntec REIT (-2.52%) ,CapitaLand Commercial Trust (-1.28%)

• The most active index warrants by value today were : HSI23800UBeCW161229 (unchanged) ,HSI22000MBeCW160929 (-0.95%) ,HSI22400UBeCW161028 (+1.50%)

• The most active stock warrants by value today were : DBS MB eCW161031 (-6.86%) ,OCBC Bk MBeCW161004 (-6.98%) ,OCBC Bk MBeCW170118 (-6.25%).

Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg

Read More

Singtel, Raffles Medical, ZICO, Lum Chang, Rowsley, Lian Beng

Here are some stocks that could move the market this Monday morning:

Optus Business, the enterprise division of Singtel's Australian subsidiary Optus, has announced a new three year ICT services agreement with insurer QBE Australia that will see Optus deliver voice, mobile and data network services for them. The new contract supports voice and data services connecting more than 4000 QBE end users across 42 locations throughout Australia using the Optus network. Although the actual value of the contract was not disclosed, Optus says the new agreement is a “multi-million dollar deal”. Singtel last closed at $4.30.

Raffles Medical Group's earnings rose 4.5% to $16.7 million in the second quarter ended June 30, 2016, from $15.9 million in the previous corresponding quarter. Revenue grew 19.8% to $119 million in 2Q from a year ago. All divisions contributed positively, with revenue from Healthcare Services and Hospital Services increasing by 42.2% and 7.9% respectively. Raffles Medical closed 1.25% higher at $1.62 on July 22.

ZICO Holdings Inc. announced that ZICO Capital has been granted a capital markets services (CMS) licence by the Monetary Authority of Singapore on July 13. The licence will allow ZICO Capital to conduct the regulated activity of advising on corporate finance. ZICO Holdings closed flat at 28 cents.

Lum Chang Holdings announced wholly owned subsidiary, Lum Chang Building Contractors, has won a $60.8 million contract to build a 14-storey high-specification industrial building and provide asset enhancement woks to three existing buildings from by DBS Trustee on behalf of Mapletree Industrial Trust. Shares of Lum Chang closed unchanged at 36 cents.

Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at :
info@epicresearch.sg

Read More

What's weighing on banks’ profitability in 2Q?

In 1Q2016, shares in DBS Group Holdings, Oversea-Chinese Banking Corp and United Overseas Bank were reeling on concerns of a surge in non-performing loans (NPLs) triggered by rising interest rates, slumping commodity prices and an uncertain economic outlook in China.

As banks head into their 2Q2016 reporting season, bank stocks have recovered somewhat, but they have not reached their 1Q2016 highs. One reason is that commodity prices have recovered somewhat, and another is that China appears to be muddling along. More importantly, with Brexit and volatile job numbers in the US, there is a growing consensus in the market that major central banks around the world will keep monetary policy looser for longer.

Yet, that could hurt earnings at the local banks, which are due to begin reporting their 2Q2016 financial results this coming week.

Net interest income (NII) contributes more than half of the banks total income, and all three of them did fairly well in 1Q2016 because of wider net interest margins (NIMs).

However, the three-month Swap Offer Rate and three-month Singapore Interbank Offered Rate have been sliding since 1Q2016. That could mean tighter NIMs weighing on NII at the banks.

Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg

Read More

Frasers Commercial Trust’s Microsoft extension a window of opportunity

OCBC Investment Research is keeping its “buy” recommendation on Frasers Commercial Trust (FCOT) and raising its fair value estimate to $1.45 from $1.42 previously.

“One major development which took place during the quarter was Microsoft’s decision to extend its current lease at Alexandra Technopark (ATP) for another five years,” says OCBC lead analyst Andy Wong Teck Ching in a Monday report.

Microsoft occupies 78,000 sq ft of space at ATP, which is 7.4% of ATP’s net leasable area. The original lease, which would expired in FY2017, has now been extended to FY2022.

“Looking ahead, we believe rental reversions are likely to moderate, as FCOT’s average passing rent for its expiring leases in Singapore are now close to market rents,” he adds.

OCBC says FCOT’s 3Q results came in within expectations.

Distribution per unit (DPU) grew 2.6% to 2.41 cents, while gross revenue increased 11.1% to $38.6 million, and net property income (NPI) increased 15.6% to $28.1 million.

As at 11.25am, units of Frasers Commercial Trust are trading flat at $1.34.

Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg

Read More

SGX Singapore Opening Market Update : Epic Research Singapore

SINGAPORE share prices opened higher on Monday with the Straits Times Index up 8.61 points or 0.29 per cent to 2,953.96 as at 9.10am, following a Wall Street rebound on Friday.

US stocks had rebounded after dipping on Thursday following a nine-day march. Telecom and utilities sectors, each rising 1.3 per cent, had led the Wall Street march on Friday.

US crude fell 56 cents or 1.2 per cent to settle at US$44.18. Brent was down 51 cents or 1.1 per cent at US$45.69.

Some 64 million shares worth S$85 million changed hands on Singapore bourse, with gainers outnumbering losers 102 to 56.

Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg

Read More

ZICO unit granted capital markets services licence by MAS

ZICO Holdings Inc. announced that ZICO Capital has been granted a capital markets services (CMS) licence by the Monetary Authority of Singapore on July 13.

The licence will allow ZICO Capital to conduct the regulated activity of advising on corporate finance.

Among other responsibilities, ZICO Capital may give advice to persons on compliance with laws or regulatory requirements, including the listing rules of Singapore Exchange relating to the raising of funds

ZICO Capital can also provide advice to persons making an offer to subscribe for or purchase of securities or to sell or dispose of securities and advise on arrangement, reconstruction or take-over of a corporation or of any of its assets or liabilities.

The grant of the CMS licence is not expected to have any material impact on the group’s earnings per share and net tangible asset per share for the financial year ending December.

ZICO Holdings closed flat at 28 cents.

Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg

Read More

Lum Chang unit wins $61 mil contract from Mapletree

Lum Chang Holdings announced wholly owned subsidiary, Lum Chang Building Contractors, has won a contract to build a 14-storey high-specification industrial building and provide asset enhancement woks to three existing buildings.

The contract valued at $60.8 million, was awarded by DBS Trustee on behalf of Mapletree Industrial Trust. Located at the junction of Boon Keng Road and Kallang Place, the new building will have a 14-storey multi-user block and a two-storey carpark. The upgrading works for the three existing buildings will include lift lobbies and corridors, and the modernisation of lifts and lift car replacements.

The contract period is for 19 months and will be carried out over seven phases. Work will start next month.

Lum Chang says the latest contract is not expected to have a material financial impact on the group's profits for the current financial year but will bring Lum Chang's total outstanding value of construction projects still in progress to $558 million.

Shares of Lum Chang closed unchanged at 36 cents.

Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg

Read More

SGX Singapore Closing Market Update : Epic Research Singapore

WALL Street's consecutive all-time highs between Monday and Thursday provided the backdrop for a firm week for the Straits Times Index (STI) during which it gained 20 points or 0.7 per cent at 2,945.35, of which 4.87 points came on Friday. The index has now gained 2.2 per cent for the year so far.

Turnover on Friday was below average at 1.1 billion units worth S$949.4 million, the week's high coming on Wednesday when S$1.2 billion was transacted. Excluding warrants, Friday's advance-decline score was 167-184 so the session was more mixed than the index's reading might indicate.

Much of the index's support during the three-week rally that surprisingly ensued after "Brexit" or Britain's vote to exit the European Union, has come from Singtel and Thai Beverage, with help from the Jardine Group. Friday's gain for instance, came largely thanks to a S$0.07 jump in Singtel to S$4.30 that came with 21.7 million traded, a jump that added about seven points to the STI.

Elsewhere within the index, palm oil firm Wilmar International's Wednesday profit warning - though not wholly surprising since the company had earlier said that it expected a difficult quarter - nevertheless brought the sellers out in droves. Wilmar started the week at S$3.31 but ended at S$3.08, a loss of S$0.23 or 7 per cent that came in heavy trading throughout.

Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg

Read More

SGX Singapore Closing Market Update : Epic Research Singapore

WALL Street's consecutive all-time highs between Monday and Thursday provided the backdrop for a firm week for the Straits Times Index (STI) during which it gained 20 points or 0.7 per cent at 2,945.35, of which 4.87 points came on Friday. The index has now gained 2.2 per cent for the year so far.

Turnover on Friday was below average at 1.1 billion units worth S$949.4 million, the week's high coming on Wednesday when S$1.2 billion was transacted. Excluding warrants, Friday's advance-decline score was 167-184 so the session was more mixed than the index's reading might indicate.

Much of the index's support during the three-week rally that surprisingly ensued after "Brexit" or Britain's vote to exit the European Union, has come from Singtel and Thai Beverage, with help from the Jardine Group. Friday's gain for instance, came largely thanks to a S$0.07 jump in Singtel to S$4.30 that came with 21.7 million traded, a jump that added about seven points to the STI.

Elsewhere within the index, palm oil firm Wilmar International's Wednesday profit warning - though not wholly surprising since the company had earlier said that it expected a difficult quarter - nevertheless brought the sellers out in droves. Wilmar started the week at S$3.31 but ended at S$3.08, a loss of S$0.23 or 7 per cent that came in heavy trading throughout.

Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg

Read More

CapitaLand Mall Trust's 2Q DPU up 1.1% to 2.74 cents

CapitaLand Mall Trust (CMT) on Friday reports distribution per unit (DPU) rose 1.1% to 2.74 cents compared to 2.71 cents in the same period last year.

2Q16 distributable income increased 3.3% to $97.1 million, on the back of higher gross revenue and net property income (NPI), which grew 7.1% and 6.0% respectively.

In an SGX filing before trading opened on Friday, CMT said this was mainly due to a contribution of $14.5 million to gross revenue from Bedok Mall which was acquired on 1 October 2015, and higher rental revenue achieved for IMM Building, Tampines Mall and Bukit Panjang Plaza after their asset enhancement initiatives.

Gains were partially offset by the absence of recurring income following the divestment of Rivervale Mall in December 2015, and lower gross revenue from Funan DigitaLife Mall as the mall wound down its operations for redevelopment.

For the first half of 2016, DPU grew 1.5% to 5.47 cents while distributable income rose 3.7% to $193.9 million.

“Despite a soft retail market, CMT continued to produce steady operational results in the first half of 2016,” says Wilson Tan, CEO of CMT’s manager, CapitaLand Mall Trust Management Limited.

“Backed by our portfolio of well-located shopping malls and extensive network of retailers, CMT registered year-on-year increases of 3.6% and 2.3% in shopper traffic and tenants’ sales per square foot respectively. As at 30 June 2016, portfolio occupancy remained high at 97.9%.” Tan adds.

Looking ahead, Tan says Funan DigitaLife Mall, which closed from 1 July 2016, will embark on three years of redevelopment works to enhance its attractiveness as a lifestyle destination in the revitalised Civic and Cultural District.

Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg

Read More

Keppel, SATS, CMT, Suntec REIT, A-REIT, CIT

Here are some stocks that could move the market this Friday morning:

Keppel Corporation saw its second quarter profit slump by 48% to $205.78 million, on the back of lower revenue contributions from its offshore and marine and infrastructure divisions. Second quarter revenue was down 37% to $1.63 billion, on $860 million decline in offshore and marine's revenue to $720 million, and $137 million decline in infrastructure's revenue to $404 million. Shares in Keppel Corp closed at $5.58 on Thursday, down two cents.

SATS’s, the airport groundhandler, saw earnings grow 29.2% in the first quarter, boosted by a one-time gain from the sale of property. The firm recorded net profit of $64.1 million for the three months ended June 30, up from $49.6 million a year ago. Group revenue inched up 1.8% to $424.2 million, on the back of stronger volume growth across stations in key locations. SATS made a gain of $9.3 million on the disposal of its Senoko property which was completed on June 30. SATS closed 0.5% higher at $4.35.

Capitaland Mall Trust (CMT) reported a 3.3% rise in its second-quarter distributable income to $97.1 million, lifted by higher revenue. Distribution per unit (DPU) for the three months ended June 30, 2016, was 2.74 cents. Revenue in Q2 came in at $170.9 million, up 7.1% year on year, mainly due to a contribution of $14.5 million from Bedok Mall which was acquired last October, and higher rental achieved for IMM Building, Tampines Mall and Bukit Panjang Plaza, after completion of asset enhancement initiatives in FY2015. CMT closed 1.4% higher at $2.22.

Suntec REIT on Thursday reported distribution per unit (DPU) of 2.501 cents for the second quarter ended June 30, almost unchanged from 2.5 cents a year ago, buoyed by proceeds from the disposal of Park Mall. Gross revenue slipped 3.1% to $78.94 million while net property income fell 7.5% to $52.67 million. Suntec REIT closed flat at $1.78.

Ascendas REIT on Thursday posted a distribution per unit (DPU) of 3.996 cents for its first quarter ended June 30, 2016. This was 4% higher than the 3.841 cents it paid out in the corresponding quarter a year ago. Gross revenue rose 15% to $207.6 million due to the acquisition of the Australian portfolio and One@Changi City, while net property income rose 20.3% to $149.5 million. The REIT finished unchanged at $2.49 on Thursday.

Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg

Read More