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Finally, this stock has broken out of the resistance today.
do not miss this stock. showing strength to move up.
HEALTHY RENTAL REVERSIONS AT WISMA ATRIA
&bull 4Q14 DPU up 4.9% YoY to 1.29 S cents
&bull 17% rental reversion at Wisma Atria (retail)
&bull Reiterate BUY with higher FV
4Q14 DPU came in within expectations
Starhill Global REIT (SGREIT) reported its 4Q14 results which met our
expectations. Revenue slipped slightly by 0.4% YoY to S$48.9 due to
weaker contribution from its China and Japan assets (partly due to FX
impact), but this was partially mitigated by stronger performance
from its Singapore properties. Despite the lower revenue, NPI rose
2.0% YoY to S$39.6m, resulting in an improvement in NPI margin by
1.9 ppt to 81.0%. 4Q14 DPU was up 4.9% to 1.29 S cents. For FY14,
revenue fell 2.7% to S$195.1m, forming 98.2% of our full year
forecast. DPU of 5.05 S cents represented an increase of 5.0%
(excluding a one-off 0.19 S cents Toshin payout in 1Q13) and
constituted 99.3% of our FY14 projection.
Robust rental uplift attained at Wisma Atria (retail)
The brightest development during 4Q14 came from the 17% positive
rental reversions accomplished for leases committed at Wisma Atria
(retail). This was underpinned by the renewals and new leases signed
for the prime faç ade units. Management remains positive on the
outlook of rental reversions at Wisma Atria (retail) over the next 3-6
months. Although shopper traffic and tenants&rsquo sales at this mall fell
3.1% and 5.6% YoY to 7.2m and S$139 psf in 4Q14, respectively,
which reflects headwinds in the retail sector, we believe assets which
are strategically located in prime areas will continue to be a draw for
international retailers. SGREIT&rsquo s overall portfolio occupancy improved
from 99.1% to 99.6% due to recovery in its Japan occupancy rates.
Maintain BUY
SGREIT&rsquo s financial position remains healthy, with a comfortable
gearing ratio of 28.6%, as at 31 Dec 2014. Its borrowings are 100%
hedged via a combination of fixed rate debt and interest rate
derivatives. We fine-tune our assumptions marginally and roll forward
our valuations, thus deriving a higher fair value estimate of S$0.93
(previously S$0.90). We continue to like SGREIT for its attractive
valuations and distribution yields vis-à -vis its peers. The stock is
trading at FY15F P/B and yield of 0.88x and 6.3%, respectively.
Maintain BUY.
source: iOCBC Securities
Revenue from its Japan and China properties dropped over 20%, offset by stronger performance of its local and Australia properties. Moving forward, I think revenue from its Malaysia properties will get affected also due to RM depreciation, while its Japan and China properties will probably not recover anytime soon. Good to hold for stable income though I suppose, or maybe a bonus surprise announcement in the future of acquisition of new properties.
+-
Moving up for the past few days. More to come.
Result announcement 27/1/2015.
Malaysia Corporate Princess Ranking 2014年 马 来 西 亚 企 业 公 主 排 名
Most Beautiful Corporate Princess Ranking (Vote by reader):
1 Jane Leong
2 Dian Lee Cheng Ling
3 Quek Sue Yian
4 Kuok Hui Kwong
5 Diani Lee Cheng Ni
6 Dianna Lee Cheng Wen
7 Natalie Cheng (Same number of vote)
7 Ng Chuei Yeen (Same number of vote)
7 Kok Pei Ling (Same number of vote)
10 Carmen Chua
11 Sarena Cheah
12 Ruth Yeoh (Same number of vote)
12Charmaine Lim Puay Fung (Same number of vote)
Name for those who do not received any vote has been excluded
| AseanTradingLink ( Date: 07-Aug-2013 21:41) Posted: |
Any idea why its now floating at $0.80 range compared to over $0.90 a year ago?
Starhill Global Fundamental looks attractive.
Base on chart, the support at about $0.75.
http://mystocksinvesting.com/singapore-reits/singapore-reit-fundamental-analysis-comparison-table-14-dec-2014/
holding at 0.81?
I did a forecast calculation for q3 revenue a while back. Probably modest q-o-q growth of about 2-3 percent but i made some assumptions including slower growth compared to 2013, slight growth in its malaysia business, contd decrease in revenues from china and japan and stagnated growth on Australia's business. I could be wrong though, did it for curiosity
StarhillGbl REIT ' s Japanese portfolio contributed 2million SGD net income in the 1st half 2014.
which is 4% of total income
not a big impact.
Japanese Yen depreciated over 5% against SGD since Nov 2013
Hedging by Starhill Global for its Japan portfolio with Yen denominated debt seems effective for the 1st half 2014
For 2nd half 2014 , yet to be determined?
Any idea for the sell off?
Starhill Global fundamentally looks OK but technically moving sideway.
http://mystocksinvesting.com/singapore-reits/singapore-reit-fundamental-analysis-comparison-table-7-sept-2014/
the recent record date for div paid out was in earlier this month and next one in early nov ?
Inching up. Vested for dividends play. Hehehe.
Last AGM , Chairman , Tan Sri Francis Yeoh said they are meeting more analysts to bring the profle of the reit to a higher level.
Anyone entered?
Dividends coming soon.
Jul 2014.