Kim Eng Research in a Jan 26 research report says: “KepLand announced an FY2009 net profit of $280.4 million, boosted by $30.2 million in exceptional gains from revaluation on investment properties and the acquisition of additional interest in K-REIT. KepLand enjoyed much stronger property sales in 2009 vis-Ã -vis 2008, both in Singapore and overseas.
Posts Tagged ‘Kim Eng’
CapitaMall Trust rated buy
January 26th, 2010 |
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Kim Eng Research in a Jan 25 research report says: “CMT posted a 10.4 % increase in net property income to $376.8 million in FY2009, due mainly to positive rental reversion, as well as a reduction in non-essential costs. Distributable income improved by 18.3% to $282.0 million, leading to a full-year DPU of 8.85 cents, or a yield of about 5%.
Parkway Life Reit rated buy
January 26th, 2010 |
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Kim Eng Research in a Jan 25 research report says: “Gross revenue was up 23.7% y-o-y to $66.7 million while distributable income grew 13.4% y-o-y to $46.7 million. A record quarterly DPU of 2.05 cents was declared, representing healthy y-o-y and q-o-q growth. The size of PREIT’s portfolio increased by almost 10% to $1.15 billion as at Dec 31, 2009 after the acquisition of the eight nursing homes.
Otto Marine gains after Kim Eng recommends ‘buy’
January 11th, 2010 |
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Otto Marine climbed to its highest level since listing in November 2008 after Kim Eng Holdings initiated coverage of the stock with a “buy” rating and share-price forecast of 64 cents.
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Singapore Airport Terminal Services rated buy
January 6th, 2010 |
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Kim Eng Research in a Jan 5 research report says: “Tung Lok announced that they will operate and provide food & beverage services to 2 staff cafeterias at Resorts World Sentosa. However, we expect negligible impact on SATS as (1) we have not included potential contributions in our forecasts and (2) even if they had won it, we estimate the earnings impact to have been less than 1% of FY2010 forecast, assuming a staff strength of 10,000.
Ascott Residence Trust rated buy
December 16th, 2009 |
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Kim Eng Research in a Dec 15 research report says: “Marina Bay Sands have signed up events for its Sands Expo and Convention Centre that will attract more attendees than its 2500-room hotel can accommodate. Tourist arrivals to Singapore in October have continued its uptrend while occupancy was at 83%.
SIA Engineering Co rated buy
December 9th, 2009 |
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Kim Eng Research in a Dec 8 research report says: “The Integrated Resorts should boost tourist arrivals in 2010, benefiting SIE’s line maintenance business. Globally, air traffic has rebounded from the low of 1Q09 as passengers and businesses take advantage of cheaper fares to travel and ship goods. Capacity additions by airlines will also benefit SIE’s heavy maintenance business.
Parkway Holdings rated buy
December 7th, 2009 |
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Kim Eng Research in a Dec 4 research report says: “We held a non-deal roadshow recently for Parkway in Tokyo which was well-received by funds. The investors have shown great interests in the Group’s growth prospects in its overseas markets, the potential spin-off of its nursing college and the new hospital at Novena.
CapitaMall Trust upgraded to buy
December 2nd, 2009 |
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Kim Eng Research in a Nov 26 research report says: “The tender for Clementi Mall in early November drew a healthy response of six bids and the winning bid by a consortium led by SPH translated to a breakeven of nearly $3,000 psf. CMT’s bid of $338.8 million, which translated to a breakeven of about $2,000 psf, came in third.
Asiatravel.com Holdings rated buy
December 2nd, 2009 |
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Kim Eng Research in a Nov 26 research report says: “AST’s net profit sustained at $5.5 million in FY2009 despite the slump in the tourism industry. Earnings were above our expectations, led by lower tax rates and resilient demand for its online travel services. The group proposed a final dividend of 1 cent per share.
Hyflux rated buy
November 25th, 2009 |
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Kim Eng Research in a Nov 23 research report says: “Hyflux unveiled new investment plans for a new innovation centre and production hub in Singapore. This is expected to cost about $120m over the next three to five years. We see this as another testament to Hyflux’s DNA of constant progress.
Falcon Energy plans to raise $73m from placement of 10m shares
September 15th, 2009 |
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Falcon Energy Group is proposing to raise additional capital through a placement exercise of 10 million shares at 75 cents each to investors through placement agent Kim Eng Corporate Finance.
The net proceeds from the share placement will amount to $72.8 million after deducting all costs, expenses and commissions related to the placement.
Falcon Energy says it intends to use $50 million for the acquisition of support vessels and up to $8.2 million for working capital.
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Kim Eng says higher Thai share trading to lift profit
August 21st, 2009 |
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Kim Eng Securities (Thailand) Pcl, Thailand’s biggest stockbroker, said earnings growth will accelerate in the second half as higher share trading boosts brokerage commissions.
Rising fees will help full-year profit to rebound in 2009 after last year’s decline because of the global recession and domestic political crisis, said Montree Sornpaisarn, Kim Eng’s chief executive officer. Stock trading may average 20 billion baht ($848 million) a day in the second half, more than the 15 billion baht daily volume in the first, he said.
Top Thai broker Kim Eng Q2 net profit up 35%
July 31st, 2009 |
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Kim Eng Securities (KEST.BK), Thailand’s largest broker, reported a 35% rise in second-quarter earnings today thanks to a jump in average daily trading volume, slightly above market expectations.
Kim Eng, a subsidiary of Singapore’s Kim Eng Holdings (KEHS.SI), posted an April-June net profit of 233.4 million baht ($9.9 million), or 0.41 baht per share, up from 173 million baht a year earlier.