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lousy STI
- Thread starter JackyCheung
- Start date
oil has closed down from previous ... :o
STRATEGY – SINGAPORE
Implications Of A Weaker SGD
The surprise move by MAS to reduce the slope of the policy band will see a weaker
SGD in the near term. Stocks positively impacted include Venture, SingTel, SIA,
Ezion, Pacific Radiance and STE.
WHAT’S NEW
Surprise move. In a surprise move yesterday, the Monetary Authority of Singapore
(MAS) reduced the slope of the policy band but did not make a change to its width and
level at which it is centred. For 2015, MAS has revised its inflation projections to -0.5-
0.5% from 0.5-1.5% previously.
UOB-ETR view. In view of the lowered S$NEER slope, UOB-ETR believes that the
USD/SGD could trade towards the 1.40-level over the next six months.
ACTION
Weaker inflation outlook as the main cause. We believe the surprise move by MAS is
likely prompted by the weaker inflation outlook ever since the sharp decline in oil prices.
As an indication, MAS’ core inflation moderated to 1.6% yoy in 4Q14 from 2.1% in 3Q14.
In addition, we think the move will enhance Singapore’s competitiveness, especially in
view of the mixed global economic outlook.
Market impact. In terms of impact, exporters with Singapore dollar-based (SGD) costs
are beneficiaries. Conversely, importers such as luxury consumer goods could be
adversely affected. We highlight the sector impact below.
Largely neutral for banks. The fluctuation of foreign exchange rates against SGD would
have a minimal impact banks. DBS and OCBC have lowered their US dollar-denominated
(USD) LDR to about 100%. For banks with USD LDR below 100%, there will usually be
hedging mechanisms in place to minimise the impact from exchange rate volatility.
Positive for Singtel, but no impact for M1 and Starhub. The appreciation of regional
currencies, including the AUD against the SGD will have a positive impact on SingTel. M1
and StarHub operate solely in Singapore and will be unaffected.
Mixed bag from aviation. For ST Engineering (STE), 25% of revenue is out of the US.
However USD revenue would be higher at about 35% as maintenance and ship building
work is contracted via USD. Typically, STE swaps USD revenue for long-dated contracts.
However, even taking into account the swaps, every 1 cent increase in the USD against
the SGD would lead to a S$2m incremental revenue.
Hence, 2015's PBT could rise by
S$20m, which is 2% of our estimated PBT for 2015. As for SIAEC, 40% of its revenue is
USD-based (non-SIA revenue). Hence, every 5% increase in USD will result in a 2% rise
in revenue. As costs are SGD-based, the increase will flow through to bottom-line.
However, we think is not reason enough to be positive as SIAEC is facing competitive
pressures from other Asian MROs whose currencies have also depreciated against the
USD. SIA’s fuel and leasing costs increases will be offset by USD revenue. Net impact to
P&L would be dependent on currency swaps levels.
However based on the last financial
year, SIA would have gained 11% in PBT for every 1 S cent weakness in the SGD. Yields
as such would be strong in 2015 and the quarter that just ended.
Limited direct impact on property but watch the capital flows. The direct impact on
the property and REITs under our coverage is minimal due to a low exposure to USD
assets/earnings, further mitigated by the currency hedges and asset liability matching
strategies adopted by the companies.
However, indirectly, the depreciating Singapore
dollar is likely to result in capital outflows due to reduced appeal for investing in
Singapore dollar-denominated assets, including Property and REITs. While the increased
purchasing power of the US travellers could benefit the hotel and retail segments, they
account for a small segment (around 3%) of visitors to Singapore.
WINNERS AND LOSERS OF WEAKER SGD
Company Rec Target Share
Price Price
(S$) (S$)
Positively impacted
SingTel BUY 4.32 4.05
Venture BUY 8.25 7.98
SIA BUY 14.00 12.56
Ezion BUY 1.55 1.33
Pacific Radiance BUY 1.00 0.765
ST Engineering HOLD 3.63 3.40
Implications Of A Weaker SGD
The surprise move by MAS to reduce the slope of the policy band will see a weaker
SGD in the near term. Stocks positively impacted include Venture, SingTel, SIA,
Ezion, Pacific Radiance and STE.
WHAT’S NEW
Surprise move. In a surprise move yesterday, the Monetary Authority of Singapore
(MAS) reduced the slope of the policy band but did not make a change to its width and
level at which it is centred. For 2015, MAS has revised its inflation projections to -0.5-
0.5% from 0.5-1.5% previously.
UOB-ETR view. In view of the lowered S$NEER slope, UOB-ETR believes that the
USD/SGD could trade towards the 1.40-level over the next six months.
ACTION
Weaker inflation outlook as the main cause. We believe the surprise move by MAS is
likely prompted by the weaker inflation outlook ever since the sharp decline in oil prices.
As an indication, MAS’ core inflation moderated to 1.6% yoy in 4Q14 from 2.1% in 3Q14.
In addition, we think the move will enhance Singapore’s competitiveness, especially in
view of the mixed global economic outlook.
Market impact. In terms of impact, exporters with Singapore dollar-based (SGD) costs
are beneficiaries. Conversely, importers such as luxury consumer goods could be
adversely affected. We highlight the sector impact below.
Largely neutral for banks. The fluctuation of foreign exchange rates against SGD would
have a minimal impact banks. DBS and OCBC have lowered their US dollar-denominated
(USD) LDR to about 100%. For banks with USD LDR below 100%, there will usually be
hedging mechanisms in place to minimise the impact from exchange rate volatility.
Positive for Singtel, but no impact for M1 and Starhub. The appreciation of regional
currencies, including the AUD against the SGD will have a positive impact on SingTel. M1
and StarHub operate solely in Singapore and will be unaffected.
Mixed bag from aviation. For ST Engineering (STE), 25% of revenue is out of the US.
However USD revenue would be higher at about 35% as maintenance and ship building
work is contracted via USD. Typically, STE swaps USD revenue for long-dated contracts.
However, even taking into account the swaps, every 1 cent increase in the USD against
the SGD would lead to a S$2m incremental revenue.
Hence, 2015's PBT could rise by
S$20m, which is 2% of our estimated PBT for 2015. As for SIAEC, 40% of its revenue is
USD-based (non-SIA revenue). Hence, every 5% increase in USD will result in a 2% rise
in revenue. As costs are SGD-based, the increase will flow through to bottom-line.
However, we think is not reason enough to be positive as SIAEC is facing competitive
pressures from other Asian MROs whose currencies have also depreciated against the
USD. SIA’s fuel and leasing costs increases will be offset by USD revenue. Net impact to
P&L would be dependent on currency swaps levels.
However based on the last financial
year, SIA would have gained 11% in PBT for every 1 S cent weakness in the SGD. Yields
as such would be strong in 2015 and the quarter that just ended.
Limited direct impact on property but watch the capital flows. The direct impact on
the property and REITs under our coverage is minimal due to a low exposure to USD
assets/earnings, further mitigated by the currency hedges and asset liability matching
strategies adopted by the companies.
However, indirectly, the depreciating Singapore
dollar is likely to result in capital outflows due to reduced appeal for investing in
Singapore dollar-denominated assets, including Property and REITs. While the increased
purchasing power of the US travellers could benefit the hotel and retail segments, they
account for a small segment (around 3%) of visitors to Singapore.
WINNERS AND LOSERS OF WEAKER SGD
Company Rec Target Share
Price Price
(S$) (S$)
Positively impacted
SingTel BUY 4.32 4.05
Venture BUY 8.25 7.98
SIA BUY 14.00 12.56
Ezion BUY 1.55 1.33
Pacific Radiance BUY 1.00 0.765
ST Engineering HOLD 3.63 3.40
nothing much to update for my portfolio.
has been busy for work recently.
singtel has perform well,
hope my oil n gas shares can shine one day
has been busy for work recently.
singtel has perform well,
hope my oil n gas shares can shine one day
anybody can provide me the past year dividend payout for semb corp n semb marine.
Many thanks
also, today any news about STE? why cheong so much today, highest 3.6
Many thanks
also, today any news about STE? why cheong so much today, highest 3.6
well,property counters seem hot play recently.
any news?
any news?
UMS holding
Basic Stock Information Ø
Stock Data
Market Capitalization (SGD 'mil) 236.03
Common Shares Outstanding ('mil) 429.1440
52 Week High (SGD) (02/06/2014) 0.772
52 Week Low (SGD) (17/10/2014) 0.425
52 Week Return (%) -14.660
Average Volume ('mil) 0.9705
Beta 1.99
Financial strength
Current Ratio 5.96
Quick Ratio 3.48
Long Term Debt to Equity (%) -
Total Debt to Equity (%) -
Interest Coverage Ratio (TTM) -
Free Cash Flow to Firm (TTM) (SGD 'mln) 16.05
Margin
Gross Margin (TTM) (%) 43.11
Operating Profit Margin (TTM) (%) 24.65
Net Profit Margin (TTM) (%) 22.70
Dividend §
Annual Dividend per share (SGD) 0.0500
Dividend Yield (TTM) (%) 8.73
Dividend Yield (Annual) (%) 9.09
Payout Ratio (TTM) (%) 82.65
3-Year Growth Rate (%) 7.72
Valuation
Historical P/E Ratio 9.47
P/E Ratio (TTM) 9.47
P/BV (latest interim) 1.24
BVPS (latest interim) (SGD) 0.4446
EPS TTM (SGD) 0.0581
UMS Holdings Limited is a Singapore-based investment holding company. The Company provides equipment manufacturing and engineering services to Original Equipment Manufacturers (OEM) of semiconductors and related products. The Company is in the business of front-end semi-conductor equipment contract manufacturing. It is also involved in complex electromechanical assembly and final testing devices. The Company operates in two segments: semiconductor, which provides precision machining components and equipment modules for semiconductor equipment manufacturers; and contract equipment manufacturing (CEM), which is a supplier of base components to oil and gas OEM. Its products include modular and integration system for original semiconductor equipment manufacturing. UMS Holdings Limited operates in Singapore, Malaysia and the United States.
Basic Stock Information Ø
Stock Data
Market Capitalization (SGD 'mil) 236.03
Common Shares Outstanding ('mil) 429.1440
52 Week High (SGD) (02/06/2014) 0.772
52 Week Low (SGD) (17/10/2014) 0.425
52 Week Return (%) -14.660
Average Volume ('mil) 0.9705
Beta 1.99
Financial strength
Current Ratio 5.96
Quick Ratio 3.48
Long Term Debt to Equity (%) -
Total Debt to Equity (%) -
Interest Coverage Ratio (TTM) -
Free Cash Flow to Firm (TTM) (SGD 'mln) 16.05
Margin
Gross Margin (TTM) (%) 43.11
Operating Profit Margin (TTM) (%) 24.65
Net Profit Margin (TTM) (%) 22.70
Dividend §
Annual Dividend per share (SGD) 0.0500
Dividend Yield (TTM) (%) 8.73
Dividend Yield (Annual) (%) 9.09
Payout Ratio (TTM) (%) 82.65
3-Year Growth Rate (%) 7.72
Valuation
Historical P/E Ratio 9.47
P/E Ratio (TTM) 9.47
P/BV (latest interim) 1.24
BVPS (latest interim) (SGD) 0.4446
EPS TTM (SGD) 0.0581
UMS Holdings Limited is a Singapore-based investment holding company. The Company provides equipment manufacturing and engineering services to Original Equipment Manufacturers (OEM) of semiconductors and related products. The Company is in the business of front-end semi-conductor equipment contract manufacturing. It is also involved in complex electromechanical assembly and final testing devices. The Company operates in two segments: semiconductor, which provides precision machining components and equipment modules for semiconductor equipment manufacturers; and contract equipment manufacturing (CEM), which is a supplier of base components to oil and gas OEM. Its products include modular and integration system for original semiconductor equipment manufacturing. UMS Holdings Limited operates in Singapore, Malaysia and the United States.
But auntie lumber one investor...buy high sell very low, you never emulate?? The market at the moment, is having its 'period'...so you go in now, you will 'bleed'....
anybody can provide me the past year dividend payout for semb corp n semb marine.
Many thanks
also, today any news about STE? why cheong so much today, highest 3.6
Have you not heard of SGX or "google"??
or you can call your remiser or broker, "hey joe, send me Sembcorp dividend history"?? like this ? http://www.sembcorp.com/en/investor-relations-stock-information-dividend.aspx
i am so lazy to google
anyway i already get what i want.
How to make money, when one is lazy?....can make calls to....call up your broker, " JOE..can I have Sembcorp dividend history"..or are you usually buying 1 lot only?
18 lot STE and 10lot semb marine
well, do u have singtel?
singtel is sitting huge paper profit gain now, 21%. wonder should i sell..
SINGAPORE TELECOMMUNICATIONS LIMITED
(Incorporated in the Republic of Singapore)
Company Registration Number: 199201624D
ANNOUNCEMENT PURSUANT TO
RULE 704 OF THE SGX LISTING MANUAL
ACQUISITION OF TRUSTWAVE HOLDINGS, INC.
AND INCORPORATION OF SUBSIDIARIES
Singapore Telecommunications Limited (“Singtel”) wishes to announce that it has entered into a
conditional agreement to acquire the share capital of Trustwave Holdings, Inc. (“Trustwave”), a
corporation incorporated under the laws of Delaware, USA (the “Transaction”). Following the
completion of the Transaction, Singtel Enterprise Security Pte. Ltd. (a wholly owned subsidiary of
Singtel) will hold approximately 98% of the share capital of Trustwave1
.
Trustwave is the largest independent managed security services provider in North America with
presence in Europe and Asia Pacific. It has a broad portfolio of services across three main areas –
threat management, vulnerability management and compliance management. It has a presence in
26 countries and serves over 3 million business subscribers.
The enterprise value of Trustwave is US$850 million. The aggregate consideration2
for the
Transaction is approximately US$810 million, excluding net debt, and is subject to working capital
adjustments at closing. The valuation was arrived at on a willing buyer-willing seller basis based on,
inter alia, an assessment of Trustwave’s assets and business prospects. The consideration will be
paid in cash.
The Transaction is subject to the fulfillment of certain conditions precedent, including the receipt of
relevant approvals from regulatory authorities and other third parties.
Based on its unaudited financial statements as at 31 December 2014, Trustwave had net tangible
liabilities of approximately US$84 million.
Singtel has formed two wholly-owned subsidiaries, Singtel Enterprise Security Pte. Ltd. (“ST
Security”), a corporation incorporated under the laws of Singapore and Topaz Acquisition Sub, Inc.
(“Topaz Sub”), a corporation incorporated under the laws of Delaware, USA for the purposes of
effecting the Transaction. ST Security has an issued and paid-up capital of S$2. Topaz Sub has an
issued and paid-up capital of US$10. The directors of ST Security and Topaz Sub are Ms Jeann Low
and Mr Bill Chang.
Issued by Singapore Telecommunications Limited on 8 April 2015.
1 Robert J. McCullen, Chairman and CEO, Trustwave, will hold approximately 2% of the share capital of Trustwave following
completion of the Transaction.
2 For 98% of Trustwave share capital.
http://infopub.sgx.com/FileOpen/626-sgx.ashx?App=Announcement&FileID=342290
(Incorporated in the Republic of Singapore)
Company Registration Number: 199201624D
ANNOUNCEMENT PURSUANT TO
RULE 704 OF THE SGX LISTING MANUAL
ACQUISITION OF TRUSTWAVE HOLDINGS, INC.
AND INCORPORATION OF SUBSIDIARIES
Singapore Telecommunications Limited (“Singtel”) wishes to announce that it has entered into a
conditional agreement to acquire the share capital of Trustwave Holdings, Inc. (“Trustwave”), a
corporation incorporated under the laws of Delaware, USA (the “Transaction”). Following the
completion of the Transaction, Singtel Enterprise Security Pte. Ltd. (a wholly owned subsidiary of
Singtel) will hold approximately 98% of the share capital of Trustwave1
.
Trustwave is the largest independent managed security services provider in North America with
presence in Europe and Asia Pacific. It has a broad portfolio of services across three main areas –
threat management, vulnerability management and compliance management. It has a presence in
26 countries and serves over 3 million business subscribers.
The enterprise value of Trustwave is US$850 million. The aggregate consideration2
for the
Transaction is approximately US$810 million, excluding net debt, and is subject to working capital
adjustments at closing. The valuation was arrived at on a willing buyer-willing seller basis based on,
inter alia, an assessment of Trustwave’s assets and business prospects. The consideration will be
paid in cash.
The Transaction is subject to the fulfillment of certain conditions precedent, including the receipt of
relevant approvals from regulatory authorities and other third parties.
Based on its unaudited financial statements as at 31 December 2014, Trustwave had net tangible
liabilities of approximately US$84 million.
Singtel has formed two wholly-owned subsidiaries, Singtel Enterprise Security Pte. Ltd. (“ST
Security”), a corporation incorporated under the laws of Singapore and Topaz Acquisition Sub, Inc.
(“Topaz Sub”), a corporation incorporated under the laws of Delaware, USA for the purposes of
effecting the Transaction. ST Security has an issued and paid-up capital of S$2. Topaz Sub has an
issued and paid-up capital of US$10. The directors of ST Security and Topaz Sub are Ms Jeann Low
and Mr Bill Chang.
Issued by Singapore Telecommunications Limited on 8 April 2015.
1 Robert J. McCullen, Chairman and CEO, Trustwave, will hold approximately 2% of the share capital of Trustwave following
completion of the Transaction.
2 For 98% of Trustwave share capital.
http://infopub.sgx.com/FileOpen/626-sgx.ashx?App=Announcement&FileID=342290
Go and do something productive. Playing around with shares contribute to a huge amount of money being stuck in worthless shares which cannot contribute anything for the benefit of mankind and only makes the owner of these companies rich by manipulation.
not playing around, buy for long term investment n dividend.
busy working, cant always monitor also...
where is uncle uvwxyz
long time didn hear from him
long time didn hear from him
