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Thanks for drawing attention to these bonds.
However I think your calculation of a possible 9.3% effective yield for the 2028 maturity is incorrect. The exhange terms of the bond allow you to swap into ESR shares at any time however given the ESR share price is currently way out of the money one would never exercise the exchangable. The only relevant yield is therefore the yield to maturity, which as you say is 6.6%.
However I think your calculation of a possible 9.3% effective yield for the 2028 maturity is incorrect. The exhange terms of the bond allow you to swap into ESR shares at any time however given the ESR share price is currently way out of the money one would never exercise the exchangable. The only relevant yield is therefore the yield to maturity, which as you say is 6.6%.
Better to buy the 3.25% Bond, if anyone interested in Strait Bond, current price is 92, still better than 4.7% bond
jimimal ( Date: 24-Nov-2023 13:32) Posted:
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Straits Trading prices S$130 million notes due 2029 at 4.7%
STRAITS Trading : S20 0%on Thursday (Jan 18) said it will issue S$130 million notes due 2029 at 4.7 per cent.
The notes, to be issued at par on Jan 24, fall under the investment company&rsquo s S$500 million multicurrency debt issuance programme established in 2011 and updated in 2017.
Net proceeds from the issuance will be used for general corporate purposes, including financing existing borrowings, working capital and capital expenditure requirements, the company said.
DBS and UOB have been appointed joint lead managers and bookrunners for the bond offering.
Not sure if anyone monitor/interested in Strait trading Bond.
Interesting comparison
1. Strait 4.1% mature 2026 current price is 99.18 Yield to maturity is est 4.456%
2. Strait 3.75% mature 2025 current price is 98.90 Yield to maturity is est 4.34%
3. Strait 3.25% mature 2028 current price is 87.50 Yield to maturity is est 6.6%, This exchangable bond has the Bondholder put option at Feb 2026, effective Yield is 9.3% if you decide to redeem on Feb 2026
For Bond 1 and 2, it is available on bondsupermart, Bond 3 need to call the trader to check the price
My Banker recomand this 3.25% to me, I am very suprise of this high yield, maybe many people not aware of this put option on Feb 2026 ?
just my sharing
Interesting comparison
1. Strait 4.1% mature 2026 current price is 99.18 Yield to maturity is est 4.456%
2. Strait 3.75% mature 2025 current price is 98.90 Yield to maturity is est 4.34%
3. Strait 3.25% mature 2028 current price is 87.50 Yield to maturity is est 6.6%, This exchangable bond has the Bondholder put option at Feb 2026, effective Yield is 9.3% if you decide to redeem on Feb 2026
For Bond 1 and 2, it is available on bondsupermart, Bond 3 need to call the trader to check the price
My Banker recomand this 3.25% to me, I am very suprise of this high yield, maybe many people not aware of this put option on Feb 2026 ?
just my sharing
Last:1.89 
+0.02
possible bottoming and reverse signal detected to move higher
+0.02possible bottoming and reverse signal detected to move higher
Straits Trading launches investment product offering fractionalised exposure to Chatsworth Park GCB
INVESTMENT company Straits Trading : S20 -0.51% has launched a new product that provides fractionalised exposure to real estate as it seeks to improve accessibility to properties that have high barriers to entry.
The mainboard listed company said on Sunday (Sep 10) that it has launched two new property investment products under its Fractionalised Investment Real estate-Straits Trading (FIR-ST) programme.
The underlying properties being offered are a freehold Good Class Bungalow (GCB) at 8A Cable Road, Chatsworth Park, and a 999-year leasehold condominium unit in Duchess Residences at Bukit Timah.
Under the FIR-ST programme, investors will gain exposure to the residential properties at a fraction of their value through preference shares. The underlying properties will continue to be owned by the existing owners during the investment period, Straits Trading said.
The minimum investment amount into the Duchess Residences condominium is S$200,000, while investors who want to invest in the GCB will need to set aside a minimum sum of S$500,000.
Straits Trading noted that preference shareholders &ldquo may receive dividends, which will be paid on a semi-annual basis&rdquo .
It added that &ldquo preference shareholders may enjoy returns which reflect a share in the potential appreciation in value of the underlying property via a special payout&rdquo at the end of the expected investment period of five years.
Straits Trading said the dividends and special payout are non-guaranteed and subject to performance.
Both investments are offered to Strait Trading Shareholders&rsquo Club registrants only. Shareholders who hold at least 100 shares of Straits Trading can register with the Shareholders&rsquo Club.
Straits Trading said it worked with advisers including Dentons Rodyk & Davidson, Deloitte, EY, Cushman & Wakefield, and Knight Frank to come up with the investment products.
Straits Trading net profit tumbles 98% to S$15 million on absence of one-off gain, incurs higher finance costs
The Straits Trading Company has reported 1HFY2023 earnings of $14.9 million, versus $673 million recorded in the year.
The big drop can be attributed to the one-off recognition of $658.6 million in 1HFY2022 following the sale of its stake in ARA Asset Management.
If this gain is excluded, Straits Trading would have reported an ebitda that is 11.7% higher y-o-y, and profit after tax that' s 19.2% lower y-o-y.
Besides the absence of the one-off disposal gains, Straits Trading was hit by much higher finance costs of $40.6 million, versus $17.2 million in 1HFY2022.
Revenue in the same period was $202 million, down 17.7% y-o-y, with part of the drag from lower sales in its resource segment.
Straits Trading says it remains proactive in managing interest rate and foreign exchange volatilities through hedging. For example, it recently issued $370 million in exchangeable bonds, which will give it " favourable" cost of funding, financial flexibility, and increased resilience to operate in the current environment.
As of June 30, Straits Trading holds $354.5 million in cash and cash equivalents, compared to $251.7 million in Dec 31 2022.
&ldquo Our resilient 1H2023 results, coupled with our sound balance sheet puts us in a good position to navigate the current headwinds and positions our businesses for sustained growth," says executive chairman Chew Gek Khim.
" We remain committed to enhancing shareholder value through our Straits 5.0 transformation by introducing innovative growth engines for the company, and deepening our relationship with shareholders through meaningful engagement and unique co-investment opportunities," she adds.
As at June 30, the company' s NAV per share was $3.59, down from $3.86 as at Dec 31 2022.
Any ideas when result is expected to be out? Thanks
Once it breaks $2, will start to pick some durians.
Drop more..
zjd1975 ( Date: 29-Apr-2023 00:14) Posted:
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Thanks for the update fellow shareholder! I will join you at the next AGM. Hope the share price recovers. Really under performing after the ex-div.
Just attended Straits Trading AGM today, Full house. Usual stuffs of voting AND live questions and answers. Got to hear real concerns of shareholders rather than toned-down summaried version,
There was also lunch provided at the end of the session, I also received my annual report which I failed to recieve by post.
I was also at the UOL AGM today, got a $30 voucher that could be spent somewhere. They however did not provide end of session refreshment meal, only drinks before and after session. 80-90% filled. Got to see all directors and key-personnels except Dr Wee.
There was also lunch provided at the end of the session, I also received my annual report which I failed to recieve by post.
I was also at the UOL AGM today, got a $30 voucher that could be spent somewhere. They however did not provide end of session refreshment meal, only drinks before and after session. 80-90% filled. Got to see all directors and key-personnels except Dr Wee.
zjd1975 ( Date: 28-Apr-2023 02:17) Posted:
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I actually had 4 seessions to attend today but could only attend 2 due to AGM time conflicts would have attended all 4 if I could.
zjd1975 ( Date: 28-Apr-2023 02:17) Posted:
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Same here. Went there to hear the summary of assets and operations plus others since it is not just me in my family that invested in the company.
zjd1975 ( Date: 28-Apr-2023 02:17) Posted:
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Is the AGM worth going? Anything of value for shareholders? I'm a new shareholder only since this year
I donot understand the egm.. the shares already distributed why need to ratify now?
Think so but they would check whether you are currently a shareholder before they let you in.
I believe need to go there earlier to register to avoid not getting a seat but don' t know exactly how many shareholders would attend.
Better go earlier since there is another " proposed ratification of the special dividend via distribution in specie of shares in the Straits Trading Company limited or ESR Group Limited" extraordinary general meeting at 12noon immediately after the AGM. I believe the number of attendees at the AGM would be more than before because this time there are two meetings.
I believe need to go there earlier to register to avoid not getting a seat but don' t know exactly how many shareholders would attend.
Better go earlier since there is another " proposed ratification of the special dividend via distribution in specie of shares in the Straits Trading Company limited or ESR Group Limited" extraordinary general meeting at 12noon immediately after the AGM. I believe the number of attendees at the AGM would be more than before because this time there are two meetings.
investshare ( Date: 27-Apr-2023 09:07) Posted:
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Thanks. Just need nric to attend?
Ftyeng ( Date: 27-Apr-2023 08:59) Posted:
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On-site (non-internet) AGM to be held at Orchard Rendezvous Hotel (Antica Ballroom) on Friday 28Apr2023 at 11am.
Interested shareholders could attend.
Interested shareholders could attend.
Straits Trading reports FY2022 earnings of $551.3 million, led by divestment gains
The Straits Trading Company has reported earnings of $551.3 million for FY2022, up 135% versus $234.3 million recorded in the preceding year ended Dec 31 2021, thanks to divestment gains of its stake ARA Asset Management.
Revenue in the same period was up 33% to $527.6 million, with higher contributions from its various business segments.
For 2HFY2022, the company booked a fair value loss of $75.4 million on its investment properties portfolio, versus a gain of $133.4 million made in FY2021.
This brings 2HFY2022 losses to $122.5 million, versus earnings of $144.1 million.
In the past year, the company completed the acquisition of a portfolio of office and industrial buildings and several plots of development land in the Gloucester Business Park in the UK.
To further diversify its portfolio, it also acquired a remaining 20% stake in its logistics portfolio in Australia - part of Straits Trading' s wider multi-asset, multi-market strategy.
Straits Trading owns stakes in the hospitality business, such as its 30% share of Far East Hospitality Holdings. During the year, this business segment returned to profitability with an ebitda of $0.8 million.
Now, given the global uncertainties, Straits Trading prefers to remain cautious and will continue to adopt prudent financial management and explore opportunities to drive long-term sustainable growth.
Elsewhere, its resources segment, mainly via its separately listed, 52%-owned Malaysia Smelting Corp, has reported an ebitda of $54.6 million in FY2022, down from $59.5 million, due to higher energy costs which made smelting more expensive.
MSC, says Straits Trading, will continue to focus on improving operational efficiencies in its smelting and mining segments.
&ldquo Our FY2022 results demonstrate the resilience of our conglomerate business model with diversified operations and interests across several markets,&rdquo says executive chairman Chew Gek Khim.
&ldquo As such, we were able to grow from strength to strength, and deliver superior value to our stakeholders.
&ldquo We aim to build on this momentum by continuing our efforts under the Straits 5.0 Transformation,&rdquo she adds, referring 137-year-old company' s latest growth stage.
Straits Trading warns that the current FY2023 will remain &ldquo challenging&rdquo because of higher energy prices, interest rates, and labour cost.
&ldquo The group will continue to stay disciplined and prudent in its investment approach as it navigates forward,&rdquo the company says.
Straits Trading plans to pay a dividend of 8 cents &ndash which is on top of the distribution in specie equivalent to 50 cents already made earlier in FY2022.