GuocoLand

Re: GuocoLand

Postby behappyalways » Tue Aug 30, 2016 5:32 pm

GuocoLand's FY16 earnings more than double to $608 mil on disposal gain
http://sgx.i3investor.com/servlets/fdnews/63064.jsp
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Re: GuocoLand

Postby winston » Fri Sep 02, 2016 10:02 am

not vested

Full year benefited from Beijing DZM sale
ADD - Maintained | S$1.91 tp:S$2.59
Mkt.Cap:US$1,656.00m | Avg.Daily Vol:US$0.16m | Free Float:32.00%

FY6/16 bottomline boosted by sale of DZM project; proposes total DPS of 9 Scts
Slower Singapore residential profits with progressive recognition of ongoing projects
Overseas income could grow in 2QFY16 with residential sales at Damansara City and Changfeng Residences
Rental income a new growth driver, growing pre-leasing rates at TPC
Maintain Add, with lower RNAV-backed target price of S$2.59


FY6/16 boosted by DZM, largely in line with expectations

Guocoland’s 4Q16 net profit was down 63% yoy to S$39.8m, but full-year net profit surged 168%, boosted by the sale of Beijing Dongzhimen. However, revenue declined 16% in 4Q and 9% in FY16 with the completion of sale of residential units at Goodwood Residences, partly offset by progressive contributions from Sims Urban Oasis and Leedon Residence. The group proposed a total DPS of 9 Scts (5 Scts final, 4 Scts special), translating to a yield of 4.7%.


Slower Singapore residential; completed projects almost fully sold

Looking ahead, we expect Singapore residential contributions to slow given that its Goodwood Residence units are almost fully sold. The group will continue to market units from Leedon Residence (64% sold) and Sims Urban Oasis (50% sold). It plans to officially re-launch Wallich Residence at Tanjong Pagar Centre (TPC) towards late-2016 or early-2017.


Overseas contributions continue to be felt in 2HCY16

Post Beijing Dongzhimen, China contributions will be from rental income from Shanghai Guoson Centre and residential profits from its 50%-owned Changfeng Residences in Shanghai. We anticipate maiden contributions from the latter to materialise from end-CY16. In Malaysia, profits from the sale of residential units at Damansara City boosted 4Q16 results. The residential component of this project is completed and further sales will filter down immediately to bottomline.


TPC will provide another income source

Rental income will be boosted with the completion of Tanjong Pagar Centre in 3QCY16. We understand pre-leasing of the retail space is progressing well, with more than 60% of the retail space committed while the office component is seeing higher leasing interest. We estimate that when both components are fully leased out, Guocoland can generate an attributable S$80m share of annual rental revenue. This will provide another source of recurring income for the group.


Strong balance sheet to fund investments
As at end-FY16, the group was relatively low geared at 0.73x and has a gross cash hoard of S$1.43bn. This puts it in a strong position to reinvest in new projects to drive income and RNAV growth. Earnings-wise, we raise our FY17F EPS by 30% and trim our FY18F EPS by 6% as we bring forward income recognition of Changfeng Residences and tweak our RNAV by -6% to adjust for the lower RM.

We maintain our Add call, with lower target price of S$2.59. Potential re-rating catalysts could emerge when its redeploy capital into new developments. Key downside risks are slower than expect residential sales or leasing activity.


Source: CIMB

https://brokingrfs.cimb.com/BarF3CTLTiE ... uwhGA2.pdf
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Re: GuocoLand

Postby winston » Thu Mar 09, 2017 8:22 am

not vested

UOB notes that GuocoLand is a potential privatisation play due to its stock trading at a deep discount of 45% to its revalued net asset valuation (RNAV).

A low public float of 21% and a high majority-sponsor stake of 68% are also contributing factors.

Source: The Edge
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Re: GuocoLand

Postby behappyalways » Fri Apr 21, 2017 10:34 am

Guocoland says 3Q earnings more than double to nearly $30 mil on higher sales
http://www.theedgemarkets.com.sg/articl ... gher-sales
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Re: GuocoLand

Postby winston » Mon Aug 28, 2017 9:41 am

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FY17: Building A Strong Recurring Income Stream

Results are in line with expectations.

Net asset value per share grew 8% to $3.18, boosted by the fair value gain for Tanjong Pagar Centre’s Guoco Tower.

The group proposed an ordinary dividend of 7 S cents/share.

GuocoLand is a key beneficiary of the property sector turnaround and rotational interest.

Expect strong recurring earnings going forward, which should account for 20-30% of overall earnings.

It is trading at a deep 37% discount to its RNAV of S$3.63/share.

Maintain BUY and target price of S$2.80.

Source: UOBKH

https://research.uobkayhian.com/content ... 342f8e5950
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Re: GuocoLand

Postby winston » Wed Aug 30, 2017 8:09 am

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6 growth drivers for Guocoland: FY18 and beyond

Source: The Edge

https://www.theedgesingapore.com/6-grow ... d-87358173
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Re: GuocoLand

Postby behappyalways » Sun Oct 01, 2017 6:20 pm

guocoland-submits-top-bid-1622-bil-beach-road-police-station-site
https://www.theedgesingapore.com/guocol ... ation-site
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Re: GuocoLand

Postby behappyalways » Wed Oct 25, 2017 1:18 pm

guocoland-1q-earnings-surge-sixfold-1656-mil-higher-share-profit-joint-venture
https://www.theedgesingapore.com/guocol ... nt-venture
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Re: GuocoLand

Postby behappyalways » Fri Feb 02, 2018 8:26 pm

GuocoLand earnings fall 25% to $43 mil in 2Q on lower share of profit, higher expenses
https://www.theedgesingapore.com/guocol ... r-expenses
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Re: GuocoLand

Postby behappyalways » Mon Mar 19, 2018 8:37 pm

GuocoLand and Hong Leong win bid to acquire Pacific Mansion for $980 mil, highest in the current en bloc cycle
https://www.theedgesingapore.com/guocol ... bloc-cycle
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