Tuesday, November 21, 2017

Mindchamps IPO

Mindchamps IPO is here.  The amount available to the public is only 2 million shares.  Very low chance of getting.

Monday, June 13, 2016

Frasers Logistics and Industrial Trust IPO launched at $0.89

Frasers Logistics and Industrial Trust is pricing its IPO at the top of range of S$0.89.

Translates to a dividend yield of 6.8% (forecast period of 4 months till 30 September) or 7.3% full year to 30 September 2017.

80 million units up for grab for the public.

The S$903 million IPO is the largest IPO since 2013's Asian Pay Television Trust.

Market cap will be S$1.27 billion.

Portfolio to comprise 51 industrial properties in Australia valued at $1.6billion.

Public offer closes at noon Thursday. Trading expected to start at 9am on 21 June 2016.

Sunday, June 12, 2016

Noble - Timeline of Recent Events

Recent timeline of events for Noble in the past 2 weeks.

30 May 2016 - CEO of Noble steps down.

2 June 2016 - Founder and Chairman of Noble Group, Richard Elman to step down in next 12 months. Announces US$500 million rights issue (1 for 1).

6 June 2016 - OCBC Investment Research ceases coverage of the stock.

8 June 2016 - Bloomberg reports based on uncited sources that another executive ( Gareth Griffiths , Global Head Power and Gas trading) leaving the group.

Friday, June 10, 2016

Otto Marine Privatisation Offer at $0.32

Otto Marine's share price rose after its controlling shareholder, Mr Yaw Chee Siew, offered to buy out shareholders at 32 cents. This represents quite a huge premium before the trading halt was closed.

Otto Marine's share price closed at 31.5 cents today. Lowest trade was at 31 cents.

There is still some risk that this might not go through as delisting is still subject to holders of the multi-currency notes agreeing to certain conditions.

The voluntary listing values the company at $68 million. Otto Marine trades at a discount top its book value.

Sunday, May 1, 2016

OCBC first quarter results - Net Profit at S$856 million

OCBC Bank reported its first quarter results.  In summary:

  • Revenue dropped 2% to $2.06 billion
  • Net Interest Income rose 5% to $1.31 billion
  • Net Profit dropped 14% to $856 million.
  • Total non-performing loans ratio rose to 1% from 0.9% last quarter.
  • NAV was $8.20 (increase by 5.1%)
  • Earnings per share was 82.2 cents (down 17.6%)
OCBC Bank share price closed down at $8.77 (drop of $0.13).

Is OCBC a bargain at this price? 

Personally, I prefer DBS which is trading at a slight discount to its book value. Comparatively, OCBC does provide a slightly higher yield of 4 1% versus DBS 3.9%.

Monday, March 14, 2016

CapitaLand Commercial Trust (CCT) distribution history

Just thought that this might be useful reference for those looking for CapitaLand Commercial Trust (CCT) distribution history.

CCT distribution history

Wednesday, March 9, 2016

CapitaLand Commercial Trust to be added to Straits Times Index

The Straits Times Index or what is referred to as STI has 30 companies that form its constituents. FTSE Russell has announced that Capitaland Commercial Trust will take over the place of Noble Group which will drop out of the list. The changes will be taking effect on the start of business of 21 March 2016.

The 5 companies on the STI reserve list: Suntec Reit, NOL, First Resources, Singapore Post and Keppel Reit. These companies stand the chance to replace any firm in the STI that is subsequently dropped by FTSE Russell.

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