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Far East Orchard
On Sep 27, Far East Orchard : O10 0% chair and non-executive director Koh Kah Sek acquired 90,000 shares at an average price of S$1.02 apiece. This took her direct interest to 0.02 per cent. As she is directly associated with Far East Organization, which is a substantial shareholder of the company, she is also considered by the board to be non-independent.
Koh is also an executive director and the chief financial officer of Far East Organization, where she is responsible for financial affairs, including corporate finance, treasury, overseas investments, risk management and capital management, while also overseeing the corporate function of the group&rsquo s legal division.
For its H1 FY2024 (ended Jun 30), Far East Orchard reported that its revenue increased by 7 per cent from H1 FY2023 to S$97.3 million, with the purpose-built student accommodation (PBSA) business segment contributing the highest increase of S$5.5 million.
Net profit more than doubled to S$19.7 million, driven by higher contributions from the PBSA segment and joint ventures, despite higher interest expenses. As at Jun 30, 2024, the group maintained a healthy cash position of S$197.6 million, down from S$225.6 million due to its acquisition of a 49 per cent stake in Homes for Students, a PBSA operator in the UK.
With the results, Far East Orchard CEO Alan Tang highlighted the expansion of the group&rsquo s investment and asset management capabilities, noting that the acquisition of the Homes for Students stake marked a significant milestone for the business. This acquisition is set to advance the group&rsquo s &ldquo Feor 25&rdquo strategy and bolster its position in the UK PBSA sector.
Buybacks continue at moderate pace Far East Orchard chair acquires shares
Sats again led the buyback consideration tally over the five sessions to Oct 3, with 2.7 million shares purchased at an average price of S$3.70 apiece
INSTITUTIONS were net buyers of Singapore stocks over the five trading sessions spanning Sep 27 to Oct 3, with S$50 million of net institutional inflow, reversing the preceding five sessions of net outflow.
Leading the net institutional inflow over the five sessions to Oct 3 were Singapore Exchange : S68 +0.86%, Mapletree Pan Asia Commercial Trust : N2IU -1.31%, Singapore Airlines : C6L -0.75%, Mapletree Logistics Trust : M44U -0.68%, Keppel : BN4 +0.45%, Genting Singapore : G13 +1.14%, CapitaLand Investment : 9CI +0.97%, Wilmar International : F34 +1.52%, Jardine Matheson : J36 +0.96% and Sats : S58 +1.06%.
Meanwhile, UOB : U11 +0.47%, DBS : D05 +0.53%, Yangzijiang Shipbuilding : BS6 +0.81%, OCBC : O39 -0.2%, Thai Beverage : Y92 -0.95%, Singtel : Z74 -0.62%, Frasers Centrepoint Trust : J69U -0.43%, Venture Corporation : V03 +0.14%, Keppel DC Real Estate Investment Trust : AJBU 0% (Reit), and Frasers Logistics & Commercial Trust : BUOU -0.85% led the net institutional outflow.
The five sessions also saw 16 primary-listed companies conduct buybacks with a total consideration of S$20.2 million, similar to the consideration in the preceding week.
Sats again led the buyback consideration tally over the five sessions, acquiring 2.7 million shares at an average price of S$3.70 apiece. In the preceding five sessions, it bought 2.6 million shares at S$3.62 per share. Sats maintains that repurchased shares held in treasury can be transferred for share schemes without diluting existing shares.
Seatrium : 5E2 +12.43%also continued at the same pace, buying back 1.09 million shares, taking the cumulative percentage of issued shares (excluding treasury shares) acquired on the current mandate from 0.4 per cent to 0.44 per cent.
Digital Core Reit Management took a break from acquiring units of Digital Core Reit : DCRU -2.44% and announced it would publish a business and operational update for its Q3 FY2024 (ended Sep 30) after trading hours on Oct 23.
The five trading sessions saw more than 120 director interests and substantial shareholdings filed for close to 50 primary-listed stocks. Directors or CEOs filed 19 acquisitions and no disposals, while substantial shareholders filed nine acquisitions and five disposals.
It is worth reading the underlying UCAS report (which by the way is over a year old now and so the data underlying it is even older) to make one' s own judgement as to whether the forecasts are believable.
In particular I would point out that the analysis is very much a top down one, with the main domestic driver of students in their forecasts being demographics. There is little consideration of, for instance, either a) the funding situation in the UK university sector which means that even the current level of domestic students is not sustainable without a fundamental change in government approach to funding (which will not happen given the government is already deeply in debt and b) the UK political environment which is trying to cut down even temporary immigration
In particular I would point out that the analysis is very much a top down one, with the main domestic driver of students in their forecasts being demographics. There is little consideration of, for instance, either a) the funding situation in the UK university sector which means that even the current level of domestic students is not sustainable without a fundamental change in government approach to funding (which will not happen given the government is already deeply in debt and b) the UK political environment which is trying to cut down even temporary immigration
kopi-C with Far East Orchard&rsquo s Group CEO: &lsquo We&rsquo re building an enduring Singapore real estate enterprise&rsquo
kopi-C with Far East Orchard&rsquo s Group CEO: &lsquo We&rsquo re building an enduring Singapore real estate enterprise&rsquo - Singapore Exchange (SGX)
Alignment ( Date: 02-Sep-2024 20:12) Posted:
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For now, and perhaps for another year or two. But the winds of change are blowing. Most Western countries want less foreigners coming. Especially people of another skin colour. I think we are seeing a peak, and a downward slide is coming.
Centurion Corporation' s PBSA assets in the UK had full occupancy at 99%
PBSA (Purpose-Built Students Accommodation)
Insight Article Feed - Latest Stock Market News (sharejunction.com)
It seems that PBSA industry in UK is doing well for Far East Orchard' s competitor as well. lol
PBSA (Purpose-Built Students Accommodation)
Insight Article Feed - Latest Stock Market News (sharejunction.com)
It seems that PBSA industry in UK is doing well for Far East Orchard' s competitor as well. lol
Secret_Squirrel ( Date: 23-Aug-2024 12:44) Posted:
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Below are info from co-pliot.
Sure! Here are some key statistics on international students in the UK:
These numbers highlight the diverse and significant presence of international students in the UK. Is there anything specific you would like to know more about?
Sure! Here are some key statistics on international students in the UK:
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Total International Students: In the 2021/22 academic year, there were approximately 680,000 international students enrolled in UK higher education, making up 24% of all higher education students1. -
Top Countries of Origin:- China: 26%
- India: 23%
- Nigeria: 9%1
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EU vs Non-EU Students:- EU Students: 120,140
- Non-EU Students: 559,8252
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Distribution: A significant portion of international students are concentrated in London, with about a third of the international student population residing there3.
These numbers highlight the diverse and significant presence of international students in the UK. Is there anything specific you would like to know more about?
Far East Orchard establishes inaugural private fund to invest in UK purpose-built student accommodation
It has a target aggregate commitment of £ 100 million
Far East Orchard' s purpose-built student accommodation portfolio in the UK is the key driving force behind the group' s revenue and net profit growth in FY2023.
FAR East Orchard has established its first private fund in Singapore, and completed its first closing of £ 70 million (S$120.1 million) on Thursday (Aug 22).
The company announced that the fund, called the FE UK Student Accommodation Development Fund, will invest in purpose-built student accommodation (PBSA) development opportunities in the United Kingdom.
The fund has a target aggregate commitment of £ 100 million.
Currently, the company said that the fund is seeded with a development site in Glasgow, Scotland, where a 273-bed student accommodation project will be constructed. The site was previously acquired by the group in March 2024.
Far East Orchard noted that the local UK student population is currently at its highest level. Projections provided by the Higher Education Policy Institute forecast an additional 358,000 university places needed by 2035, it said.
Furthermore, it said that the group&rsquo s PBSA portfolio&rsquo s reservations stood at 92 per cent for the academic year commencing September 2024, reflecting &ldquo strong continued demand&rdquo for student accommodation.
In April 2024, the company announced that it had acquired a 49 per cent stake in independent PBSA operator Homes For Students. It said that the move would enhance the operating management capabilities of the group&rsquo s PBSA business and strengthen its position in the UK PBSA sector.
Far East Orchard group chief executive Alan Tang said: &ldquo Moving into the fee-based investment management business is a natural progression in addition to our current operating fee-based model to leverage our investment and asset management capabilities in the PBSA business in the UK.
&ldquo It allows the group to grow its recurring income stream as it steers towards an asset-light business model, ultimately reducing its balance sheet exposure and delivering greater sustainable value to shareholders.&rdquo
Far East Orchard H1 profit more than doubles to S$18.2 million on student housing segment growth
Revenue for the period stands at S$97.3 million, up 7.1% from first half of 2023
FAR East Orchard : O10 0%&rsquo s net profit more than doubled to S$18.2 million for the first half of 2024, from S$8.2 million in the year-ago period.
The group&rsquo s purpose-built student housing accommodation (PBSA) segment grew by 22.8 per cent during this period, bringing total revenue for H1 to S$97.3 million, Far East Orchard said on Tuesday (Aug 13). This was 7.1 per cent higher than the S$90.9 million recorded in the first half of 2023.
The group benefited from rental growth across most of its PBSA portfolio, underpinned by faltering supply and high demand from students for housing, Far East Orchard said.
In April, the group acquired a 49 per cent stake in Homes For Students, which has enhanced Far East Orchard&rsquo s operating capabilities and strengthened its position in the PBSA sector.
Far East Orchard said: &ldquo The hospitality business segment, which contributed a majority of S$62.4 million to revenue, continued to provide stable contributions with a slight uplift from the group&rsquo s leased portfolio in Japan.&rdquo
For the second half of 2024, the group noted that with the volatile macroeconomic climate and mounting geopolitical tensions, travel recovery will face headwinds with the slowdown in discretionary travel spending.
Nevertheless, it remains cautiously optimistic about the mid-term outlook of international travel demand. The group&rsquo s pipeline of hotel openings includes Quincy House Singapore and The Eve Hotel Sydney, which are expected to open in Q4.
Meanwhile, student numbers in the United Kingdom are at record highs, with a current shortfall of 580,000 beds in the country.
&ldquo With the limitations in PBSA supply, it is the group&rsquo s view that the UK PBSA sector remains favourable with its structural supply-demand gap, and the group continues to explore suitable opportunities in the UK to address the imbalance in student beds,&rdquo Far East Orchard said.
Earnings per share in H1 stood at 3.74 Singapore cents, up from 1.73 Singapore cents a year ago. No dividend was declared for the half year, unchanged from before.
SAC Capital highlights Far East Orchard&rsquo s ongoing asset-light expansion in an unrated report
SAC Capital analysts June Yap and Matthias Chan have highlighted Far East Orchard O10 -0.5% &rsquo s strategic partnerships and ongoing asset-light expansion.
In their July 19 report, the analysts note Far East Orchard&rsquo s performance for the 1QFY2024 ended March 31 and moves so far.
In its 1QFY2024 business update, Far East Orchard reported a revenue of $50.9 million, 10.4% higher y-o-y. Its net profit surged by 54.8% y-o-y to $6.5 million. In FY2023, the group also saw revenue and net profit improve 30.3% y-o-y to $183.6 million and 207.4% to $66.1 million, respectively. This significant increase in net profit came on the back of fair value gains from purpose-built student accommodation (PBSA) investment properties and underlying income growth.
Far East Orchard also announced, in April, that it acquired a 49% stake in Homes For Students Limited, the UK' s largest independent PBSA operator, enhancing its recurring income stream and fortifying its market position.
They add that the group&rsquo s PBSA portfolio continues to experience strong demand, with near-full occupancy and ongoing development projects, such as a new PBSA site in Glasgow.
Favourable demand-supply dynamics and support from strong domestic and international student demand, have become growth drivers of Far East Orchard&rsquo s UK sector. Additionally, the group has also reported a 40.5% increase in revenue for its hospitality business, which stands at $126.9 million, following higher occupancies and average daily rates as international travel begins to rebound.
See also: Analysts mixed on ThaiBev after &lsquo long expected&rsquo proposed share swap with TCC Assets
The company has since expanded its footprint by opening six new hotels, totaling over 750 rooms, across Australia, Japan, Malaysia, and Switzerland.
&ldquo In 2024, the group is on track to open approximately 600 rooms across the Asia-Pacific and Europe, bringing their room count to over 17,000,&rdquo add the analysts.
Far East Orchard&rsquo s current price-to-book (P/B) stands at 0.4 times which trades favourably compared to its peers which are trading closer to 0.6 times and the Mainboard&rsquo s current P/B of 1.2 times.
That said, potential risks identified by the analysts include persistent inflation and high-interest rates increasing transport and accommodation costs volatile oil prices and trade disruptions affecting overall travel expenses weak consumer sentiment due to high costs impacting travel behavior and geopolitical risks challenging the group' s positive medium-term outlook
London has more jobs. So look for a uni in london
One way people do is work save up to get min Amt to enter uk as student. Once in day time attend class . At night work part time. Holiday can work full time in like that enough to go thru study there and save enough for Europe holidays.
Secret_Squirrel ( Date: 24-May-2024 11:09) Posted:
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It depends amongst other things on the colour of your skin.
Secret_Squirrel ( Date: 24-May-2024 11:09) Posted:
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At the AGM, the CEO expressed his view that FEO is not late to enjoy the parties for the PBSA.
The next day FEO announced the partial acquisition of a British operating company to manage its portfolio.
His view is based on what Temasek has invested 290 years ago with UNITE plc.
I hope the value of FEO would remain intact
The next day FEO announced the partial acquisition of a British operating company to manage its portfolio.
His view is based on what Temasek has invested 290 years ago with UNITE plc.
I hope the value of FEO would remain intact
Secret_Squirrel ( Date: 24-May-2024 11:09) Posted:
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Studying in UK is not cheap.
Most are well-off or on scholarship.
Is UK an attractive place to work in?
Most are well-off or on scholarship.
Is UK an attractive place to work in?
True, as far as this article is concerned. But clearly a significant proportion of students come to study in the UK precisely because of the possibility of staying in the UK afterwards to work.
Furthemore the conservatives are looking to curb overseas student numbers more generally, irrespective of whether they can stay afterwards. Of course they are unlikely to be in power much longer.
Furthemore the conservatives are looking to curb overseas student numbers more generally, irrespective of whether they can stay afterwards. Of course they are unlikely to be in power much longer.
Secret_Squirrel ( Date: 23-May-2024 16:55) Posted:
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Those who came to UK purely to study are not affected.
Only those who upon completing study and who wish to stay in UK to work will be affected.
Alignment ( Date: 23-May-2024 12:31) Posted:
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O dear, looks like Conservatives in UK not popular now
Alignment ( Date: 23-May-2024 12:31) Posted:
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https://www.theguardian.com/uk-news/article/2024/may/19/rishi-sunak-faces-cabinet-backlash-over-plans-to-curb-foreign-student-visas
Not a good time to be investing in UK university accommodation.
Not a good time to be investing in UK university accommodation.
Share price is now $1.05.
Find it hard to believe it move up to $1.05.
Not too long ago it was $1.00.
Looking at market depth, it seems more people wanted to sell at $1.05 and $1.06
I guess these people are profit-taking. They are probably those who bought it lower at $1.00. lol
Find it hard to believe it move up to $1.05.
Not too long ago it was $1.00.
Looking at market depth, it seems more people wanted to sell at $1.05 and $1.06
I guess these people are profit-taking. They are probably those who bought it lower at $1.00. lol
Joelton ( Date: 08-May-2024 15:11) Posted:
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