Buy @ $2.39
Try out a "switch" from Starhub… Yield = 6.4% vs 5.92% (Starhub @ $3.38)… 😀
Starhub @ $3.3367
Sell @ $3.32, $3.34, $3.35
Contra off and sold the last two profitable ones which were bought for the Double-xd play… Unfortunately, STi was -ve for 10 straight sessions… 2nd xd on 11-May, decided not to hold for longer term as M1 Yield is now better… Didn't expect the sudden demand after I Q'd so long to sell… Range $3.31 – $3.38… 😀
Sell @ $3.38
Jump-Q at 5pm matching… a different account and taking losses… Try out a "short" or "switch" (to M1) play… I'll be very tempted to "short" more tomorrow (last day of cd) at $3.38 or higher….
SingPost @ $1.61
Sell @ $1.61
Contra off my only profitable ones as it's due… SingPost finally found someone who's willing to be the Chairman… Mr Simon Israel, current Chairman of Singtel! Singtel made it clear he was approached, not appointed by them… Mkt took the news well and allowed me to free up some cash… 😀
DBS @ $14.81
Buy @ $14.81
Average down the ones I'd bought earlier due to itchy fingers syndrome… PE = 7.71 ; Yield 4.08%… assuming EPS & DPS won't be getting worse… 😀
The original thought is DBS price will move up so that their PE will be closer to that of UOB & OCBC…. But, for the past couple of sessions, it looks like UOB & OCBC prices are dropping to meet DBS PE instead…
|
Q116 |
Price |
EPS |
PE |
Div |
Yield |
NBV |
|
|
DBS |
$ 14.87 |
$ 1.920 |
7.74 |
|
|
$ 16.39 |
-9.3% |
|
OCBC |
$ 8.33 |
$ 0.822 |
10.13 |
|
|
$ 8.20 |
1.6% |
|
UOB |
$ 17.79 |
$ 1.840 |
9.67 |
|
|
$ 18.22 |
-2.4% |
|
|
|
|
|
|
|
|
|
|
FY15 |
Price |
EPS |
PE |
Div |
Yield |
NBV |
|
|
DBS |
$ 14.87 |
$ 1.710 |
8.70 |
$ 0.60 |
4.03% |
$ 15.82 |
-6.0% |
|
OCBC |
$ 8.33 |
$ 0.952 |
8.75 |
$ 0.36 |
4.32% |
$ 8.03 |
3.7% |
|
UOB |
$ 17.79 |
$ 1.940 |
9.17 |
$ 0.70 |
3.93% |
$ 17.84 |
-0.3% |
UOB @ $17.88
DBS @ $15.01
Starhub @ $3.30
Buy @ $3.30
Originally Q’d to sell $3.34 but too late… Hit a high of $3.35 and dropped back very quickly… 😀
From the Table below, Debts had been fairly constant but Cash had been declining due to Div > FCF for the past 3 years… For FY16, Q1 FCF > Div, but need to continue to monitor closely as it’ll determine if Div = 5ct / Q can be maintained… especially since competition will become more intense with the 4th TELCO… or even 5th ….
|
   |
EPS |
Div |
FCF |
Cash |
Debts |
|
Q116 |
5.4 |
5 |
5.19 |
15.64 |
39.73 |
|
FY15 |
21.5 |
20 |
12.47 |
10.02 |
39.74 |
|
Q415 |
4.7 |
5 |
1.13 |
10.02 |
39.74 |
|
Q315 |
6.9 |
5 |
8.05 |
13.44 |
39.74 |
|
Q215 |
5.7 |
5 |
5.96 |
8.94 |
39.74 |
|
Q115 |
4.3 |
5 |
-2.68 |
13.00 |
39.80 |
|
FY14 |
21.5 |
20 |
19.31 |
15.30 |
39.71 |
|
Q414 |
5.5 |
5 |
2.82 |
15.30 |
39.71 |
|
Q314 |
5.7 |
5 |
6.84 |
17.38 |
39.83 |
|
Q214 |
5.5 |
5 |
3.59 |
15.55 |
39.83 |
|
Q114 |
4.9 |
5 |
6.06 |
22.01 |
39.90 |
|
FY13 |
21.5 |
20 |
16.96 |
15.50 |
39.94 |
|
Q413 |
4.9 |
5 |
0.92 |
15.50 |
39.94 |
|
Q313 |
5.5 |
5 |
6.95 |
19.27 |
39.94 |
|
Q213 |
5.9 |
5 |
3.74 |
17.68 |
39.94 |
|
Q113 |
5.3 |
5 |
5.35 |
23.09 |
39.95 |
|
FY12 |
20.9 |
20 |
24.30 |
18.19 |
40.08 |
NOTE : Table Figures for Cents Per Share
M1 @ $2.42
Buy @ $2.42
STI -38.13 @ 2773.07…. 😀
From the table below, we are seeing Debts Increasing and Cash Reducing due to Div > FCF…. even tho’ the Div Payout had been reduced for FY14 & FY15. Q116 saw a good FCF figure, let’s see Q216…
|
   |
EPS |
Div |
FCF |
Cash |
Debts |
|
Q116 |
4.5 |
0.0 |
6.89 |
1.25 |
33.50 |
|
FY15 |
19.1 |
15.3 |
11.27 |
1.07 |
37.75 |
|
Q415 |
4.7 |
8.3 |
-1.13 |
1.07 |
37.75 |
|
Q315 |
4.8 |
0.0 |
5.51 |
2.79 |
37.47 |
|
Q215 |
4.7 |
7.0 |
3.32 |
3.52 |
36.74 |
|
Q115 |
4.9 |
0.0 |
3.59 |
1.90 |
27.15 |
|
FY14 |
18.9 |
18.9 |
14.31 |
2.45 |
32.43 |
|
Q414 |
4.8 |
11.9 |
-0.25 |
2.45 |
32.43 |
|
Q314 |
4.8 |
0.0 |
7.22 |
1.97 |
27.53 |
|
Q214 |
4.7 |
7.0 |
2.90 |
1.76 |
28.06 |
|
Q114 |
4.6 |
0.0 |
4.46 |
11.21 |
26.98 |
|
FY13 |
17.4 |
21.0 |
19.14 |
5.90 |
27.07 |
|
Q413 |
4.4 |
14.2 |
0.53 |
5.90 |
27.07 |
|
Q313 |
4.3 |
0.0 |
6.19 |
5.28 |
27.08 |
|
Q213 |
4.3 |
6.8 |
6.46 |
5.69 |
27.11 |
|
Q113 |
4.5 |
0.0 |
6.02 |
5.87 |
27.24 |
|
FY12 |
16.1 |
14.6 |
16.69 |
1.27 |
29.79 |
NOTE : Above Figures are for Cents Per Share
 Â
A-HTrust @ $0.69
Buy @ $0.69
Didn't expect it to get done when I put it in the Buy Q…. So far, the Hospitality Trusts had reported weaker DPU (except for FE-HTrust YoY),
- CDL-HTrust : 2.22ct vs 2.44ct YoY vs 3.01ct QoQ
- Hotels : Singapore (61%), Australia (11.5%) ; Maldives (10.9%) ; NZ (8.5%) ; Japan (4.3%) ; UK (3.9%) by NPI
- FHT : 1.3306ct vs 1.37ct YoY vs 1.72ct QoQ
- Hotels (60.7%) ; Serviced Apt (39.3%) : Australia (31%) ; Singapore (29%) ; UK (15%) ; Japan (16%) by NPI
- FE-HTrust : 1.08ct vs 1.07ct YoY vs 1.17ct QoQ
- Hotels (65.5%) ; Commercial (21%) ; Serviced Apt (13.5%) by Revenue
Not the best comparison but my expectation for A-HTrust (Hotels : Australia 58% ; Japan 20% ; Singapore 14% ; China 8% by NPI) is now one notch lower at max DPU = 2.8ct (from 2.9ct)… 😀
M1 @ $2.44
Buy @ $2.44
David sent a link on news of their Leasing agreement with a new TELCO which'll launch this week! A 4th TELCO to compete with all 3… even before the Bandwidth auction… I guess this could possibly provide some deterrent to the original potential 4th TELCOs, especially if this one launches cheap data plans… This is potentially the lesser evil for M1 as they'll gain some $$ from this Leasing Agreement… 😀