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Metro
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Starship
Supreme |
02-Jan-2021 13:40
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A pleasant surprise that it performed valiantly well during the pandemic. It' s diversification looks promising. Time to look at it' s dividend profile for a clearer view of it' s investibility.
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Joelton
Supreme |
02-Jan-2021 13:16
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Metro Holdings unit acquires 26% stake in portfolio of 14 industrial, logistics properties for up to S$76.6m
PROPERTY group Metro Holdings is expanding its Singapore footprint through the acquisition of a 26 per cent stake in a portfolio of 14 properties for up to S$76.6 million.
The portfolio comprises six industrial properties, one business park, four high-spec industrial properties and three logistics properties. They are located in various parts of Singapore and within proximity to transportation nodes, the group said on Thursday.
The portfolio has a total net lettable area of 1,748,105 square feet, and a committed average occupancy rate of 99 per cent. The weighted average lease expiry of the properties stands at approximately 7.7 years.
Metro, through its indirect wholly-owned subsidiary Metrobilt Construction Pte Ltd, entered into subscription agreements to initially subscribe for 26 per cent of the units as well as the 7 per cent notes that are due in 2031 to be issued by Perpetual (Asia) Limited in its capacity as trustee of Boustead Industrial Fund (BIF).
Twenty-five per cent of the units and notes in BIF will be held by Boustead Projects Limited, and the remaining 49 per cent will be held by a special purpose vehicle for institutional real estate investors.
Metro said the investment consideration through the subscription of units will amount to as much as S$15.2 million, while the subscription of the notes is slated to set the group back by a maximum of S$61.4 million.
Upon the fulfilment of conditions under the various transaction documents, the investment will result in BIF becoming an associate of the Metro Group.
The investment consideration was arrived at on a willing buyer willing seller basis after taking into account the expected net income to be derived from the portfolio, and will be funded by a combination of internal cash resources and external borrowings.
Metro said this investment marks its foray into Singapore' s " highly sought-after" industrial real estate market, and will deepen the company' s presence in the local market and further diversify from its existing investment portfolio.
" The outlook of the overall industrial real estate market in Singapore remains positive as the country will continue to be a favourable destination as a hub for companies worldwide and the industrial sector is poised for sustainable growth in the long term," said the group.
Said Metro chief executive officer Yip Hoong Mun: " We see several positive attributes for this quality portfolio, which is well diversified within key industrial, business park and logistics segments.
" The investment represents an excellent proposition for Metro to establish a strategic presence in the Singapore industrial real estate market with an immediate scale of 14 quality assets to generate stable and recurring income."
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Joelton
Supreme |
13-Nov-2020 09:19
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Metro records S$19.8m net profit for H1, down 5.7%
METRO Holdings recorded net profit attributable to shareholders of S$19.8 million for the first half ended Sept 30, down 5.7 per cent from the year-ago period.
In results released on Thursday after market close, it disclosed that although revenue plunged 71.5 per cent to S$36.7 million amid the Covid-19 pandemic, the results were boosted by an increase in the share of profit from joint ventures - mainly due to higher contributions of S$16.1 million from the Singapore residential project, The Crest.
The property investment and retail group did not release separate figures for the second quarter.
Earnings per share for the first half were 2.4 Singapore cents, down slightly from 2.5 Singapore cents in the year-ago period. No dividend was declared.
For the first half of FY2021, the property division' s revenue fell to S$11.5 million, down from S$67.1 million in the year-ago period. Metro attributed this to lower sales of property rights of residential developments in Jakarta, which were hit by the pandemic.
The property segment' s earnings were S$9.7 million in H1 2021, down from S$17.2 million in H1 2020.
Retail division revenue fell to S$25.2 million, down from S$61.7 million in the year-ago period. This was mainly due to the absence of contribution from Metro Centrepoint, which closed in October 2019, and lower sales in department stores in Singapore during the " circuit-breaker" period.
The retail segment recorded a loss of S$0.8 million for the first six months. Group chief executive officer Yip Hoong Mun said that the two stores in Singapore will continue to leverage online platforms against a challenging retail backdrop.
Metro said that it expects its investment properties to provide a stable source of recurring income for resilient growth.
Asset enhancement works have been completed for Shanghai Plaza and Phase 1 of The Atrium Mall in Chengdu both properties opened in September. Average occupancy remains high at 92.3 per cent for the group' s five investment properties in Singapore, Shanghai, Guangzhou and London.
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taxiuncle
Veteran |
03-Feb-2016 11:07
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RIP to the boss.... |
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tasidev
Member |
14-Jul-2015 01:30
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But you need good news for cycle like sell today!
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Qanghoo
Supreme |
28-May-2015 22:13
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Maybe px will revert to 90-91c xd. That may be better time to buy. Then u wait for next yr. When fy results coming up, px bounces back to 103-104. That' s the time to sell. Repeat the cycle as above. That' s the way to trade this counter. U make abt 12-15% that way. |
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lausk22
Veteran |
28-May-2015 21:55
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6c div for FY 2015. | ||
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BigInvestor
Member |
02-Nov-2014 04:35
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A Quietly-Growing Stock With Impressive Financials Conservative economics posits that the economy must be recovering, as the US Fed Reserve is putting an end to its monetary stimulus. Retail businesses would stand to benefit from the upcoming bull run, which should inspire extravagant consumer spending. One company, Metro Hldgs in particular, stands out for its strong fundamentals and attractive valuations. The company has nearly a 60 year history, an experienced management with strong succession plans. The P/E and P/B stands at 6.39 and 0.61 (Sheng Siong in comparison has an unsettling P/E and P/BV of 21.61 and 4.43). Dividends have also grown consistently, with the dividend for 2014 yielding 6.86% as of 31st Oct - way above the market average of 3%, and comparable with the REITS. The Graham number is $2.09 (if you subscribe to value investing). The company has a strong dividend payout policy, having consistently paid dividends every year since 1992. It is notable that the dividends have consistently grown especially over the last 5 years (source: http://sgxdata.pebbleslab.com/index.asp?m=2& NC=M01) Sheng Siong has received much hype from being in the spotlight of brokerages, despite unattractive valuations. Metro Hldgs on the other hand remains attractively undervalued, owing to a lack of attention on the stock. Could the spotlight be on Metro Hldgs one day? Perhaps, and that might make it a good trading bet. However, growth prospects and fundamentals alone is enough to attract a value investor like myself. Source: Yahoo Finance Market Cap (intraday)5:724.53M Trailing P/E (ttm, intraday):6.39 Price/Book (mrq):0.61 Profit Margin (ttm):58.61% Total Cash (mrq):278.66M Total Debt (mrq):64.70M Current Ratio (mrq):4.23 Book Value Per Share (mrq):1.41 |
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pcxiao2008
Master |
29-May-2014 14:38
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resistance at 1.01....can it break through today? |
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lausk22
Veteran |
28-May-2014 16:26
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6c div
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happyboy588
Senior |
28-May-2014 15:49
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breaking new record soon ! |
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xierwang
Member |
25-Apr-2014 12:24
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Sudden surge of price! |
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guoyanyunyan
Supreme |
09-Dec-2013 12:54
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Metro ups stake in Top Spring Int'lDepartment store operator Metro Holdings is deepening its investment into the property sector. The group announced yesterday that it is acquiring a 13.66% stake in Hong Kong listed Chinese developer Top Spring International Holdings (TSI) for HK$528.7 million (S$85.7 million), and plans to further raise its stake in TSI going forward. The cash transaction translates into Metro paying HK$3.35 for each TSI share it is acquiring, compared with the HK$3.07 that TSI last traded at on Dec 5 - a day before the deal was announced. Metro said the price took into account " a price premium for a significant single shareholding block" . The stake, to be sold by some minority shareholders, will lift Metro's current 6.11% holding in Top Spring to 19.77%. The group said yesterday that it has plans to increase its stake to at least 20%, and may seek a board seat on TSI, though these moves are dependent on market conditions. ...last: $0.840... |
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Intercept
Veteran |
02-Jul-2013 13:01
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dividends coming ...95.5ct now | ||
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guoyanyunyan
Supreme |
29-May-2013 14:41
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Metro Holdings posts 81% fall in Q4 net profit to $14.9milMetro Holdings, the property and retail group, said it posted a 81% drop in net earnings to $14.9 million for its fourth quarter ended March 31, 2013 (4QFY2013) from a year ago. This sharp fall was due to a decline in other income to $5.4 million from $102.1 million in the fourth quarter of last year (4QFY2012) that included a $98.7 million gain on disposal of the group’s 50% stake in Metro City Beijing. ...recent high: $1.025 .... last done: $0.985.... |
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guoyanyunyan
Supreme |
16-May-2013 10:10
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...take such a looong time to reach ...... $1.000.....
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Singer88
Member |
15-May-2013 11:09
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Metro BIG sale going on..... | ||
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chinastar
Veteran |
11-Jul-2012 19:40
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Hold it steady
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justin1979
Member |
10-Jul-2012 14:05
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profit including price up + dividends $0.06, paper gain 10%++ ,not selling yet. hehe |
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jamesng
Master |
06-Jul-2012 17:19
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Yes, yes....Metro and Stamford land will cheong now.....with their dividend
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