Overseas Union Enterprise

Re: Overseas Union Enterprise

Postby behappyalways » Sat Feb 18, 2017 8:52 pm

OUE posts 7.7% fall in FY16 earnings to $144.4 mil on higher finance expenses, fair value losses

SINGAPORE (Feb 17): Integrated property developer OUE reported a 7.7% fall in FY16 earnings to $144.4 million from $156.4 million a year ago despite a doubling of revenue to $884.2 million.


Revenue from the Property Investment division rose 36.9% to $264.7 million, mainly due to the full-year consolidation of revenue from One Raffles Place following the acquisition of additional interest in OUB Centre in October 2015.

For the Property Development division, the continued sales and marketing efforts at OUE Twin Peaks drove sales up in FY16, resulting in revenue contribution of $197.0 million from $23.6 million in FY15.


Revenue from the Hospitality Division was $201.7 million in FY16, a slight decrease of 1.3% from $204.4 million in FY15.


OUE has proposed final cash dividend of 2 cents per share, bringing the total cash dividend for FY16 to 5 cents per share.


Source: The Edge

http://www.theedgemarkets.com.sg/articl ... lue-losses
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Re: Overseas Union Enterprise

Postby winston » Mon Feb 20, 2017 10:11 am

OUE: FY16 net profit declined 7.7% YoY to S$144.4 million, due to higher finance costs and net fair value losses on investment properties.

Revenue had more than doubled to S$884.2 million from S$431.5 million a year ago.

This was in part due to nearly S$200 million recorded from the sale of the OUE Twin Peaks condominium in Orchard.

Source: KGI
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Re: Overseas Union Enterprise

Postby winston » Mon Feb 20, 2017 10:12 am

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OUE Limited: Expanding into healthcare real estate

OUE reported that its FY16 PATMI dipped 7.7% YoY to S$144.4m mainly due to lower share of results of equity-accounted investees and higher finance expenses, partially offset by reversal of impairment losses on OUE Twin Peaks.

Accounting for one-time items, we judge this quarter’s numbers to be broadly in line with expectations.

Management reports that the asset enhancement works at OUE Downtown is expected to be completed in 2Q17 while a total of 384 units (out of 462 units) at OUE Twin Peaks have been sold.

OUE continues to actively seek opportunistic acquisitions and recently launched a mandatory unconditional cash offer for International Healthway Corporation Ltd (IHC) at S$0.106 per share.

The group currently owns a 57.6% aggregate stake in IHC, which makes its offer unconditional, and management intends to expand into healthcare real estate which will be a strategic fit to its existing asset portfolio.

A final cash dividend of 2.0 S-cents per share is proposed.

Source: OCBC
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Re: Overseas Union Enterprise

Postby winston » Tue Mar 07, 2017 9:41 am

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Time: 9:20AM
Exchange: SGX
Stock: OUE(LJ3)
Signal: Bullish MACD Crossover
Last Done: $2.07

Source: UOBKH
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Re: Overseas Union Enterprise

Postby winston » Sat Mar 11, 2017 4:21 pm

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OUE has most opportunities for RNAV crystallisation, says Deutsche

By PC Lee

SINGAPORE (March 6): Deutsche Bank likes OUE for having the most opportunities for RNAV crystallisation among the developers under its coverage.

Given the likelihood of the US Bank Tower divestment and thus a special dividend, Deutsche ranks OUE our top Singapore mid-cap pick.

In a Friday report, Deutsche also reiterates its strategy to “hold the developers and trade the REITs” through this RNAV upgrading cycle.

“Our top picks for the developers are CapitaLand and City Developments,” says Deutsche.

And although UOL has lagged behind CapitaLand and City Developments and is trading at 0.65x price-to-book, Deutsche sees less likelihood of value unlocking in the near term, given the complex holding structure.

“We believe that the key catalyst for OUE will be the crystallisation of RNAV. With the completion of asset enhancement exercises at US Bank Tower and OUE Downtown, we believe there is increased potential for divestments and potential special dividends,” says Deutsche.

Currently, US Bank Tower has achieved 80% committed leasing, while OUE Downtown is 87% occupied for the office space and 70% pre-committed for the retail space.

With progressive leasing, Deutsche believes these two assets could be divested over the next two years.

Progressive sales at Twin Peaks could also provide an additional catalyst, and recent offers for International Healthway Group could help OUE restock its land bank in prime locations.

Meanwhile at developer Wing Tai, the key swing factor remains the sales progress for its two remaining projects, Le Nouvel Ardmore and The Crest.

While sales remain moderate, Deutsche is encouraged by the acceleration in luxury demand.

With Wing Tai set to swing into a net cash position, Deutsche believes the key focus will be on the redeployment or return of capital, and potential funds management platform.

“With significant YTD share price movements, and with a likely quiet March, we think there could be near-term share price consolidation for the developers − the large-cap stocks in particular,” says Deutsche.

While the bank does not expect a sharp rebound in asset value, it does see a recovery and bottoming-out of the sector, which will return the developers to an RNAV upgrading cycle.

“We therefore see any near-term consolidation as a good buying opportunity for the developers,” says Deutsche.

OUE, CapitaLand, City Developments are higher at $1.98, $3.56 and $9.63 respectively.

Source: The Edge

http://www.theedgemarkets.com.sg/smr/?q ... 3-87358173
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Re: Overseas Union Enterprise

Postby winston » Mon Mar 13, 2017 8:43 am

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OUE withdraws from project to build South Korea's first foreign-owned integrated resort

By PC Lee

SINGAPORE (March 11): OUE on Friday announced it is exiting from a proposed integrated resort project in Incheon, South Korea.

The property group is selling its 40% investment in the project to a JV company formed by Caesars Entertainment Corporation and Guangzhou R&F Properties Co for up to US$22.9 million ($32.3 million) in cash.

Of the purchase price, US$2.5 million is a contingent consideration.

It was on March 18, 2014 that OUE first announced its intention to form a consortium with Caesars and Lippo Limited to develop the first foreign-owned integrated resort in South Korea, to be ready in time for the 2018 Winter Olympics.

With its exit, OUE is also selling its right to acquire a plot of land adjacent to where the resort is to be constructed. The buyer is R&F, which is acquiring the right for US$2 million, contingent to certain considerations.

Shares of OUE closed 6 cents higher at $2.14.

Source: The Edge

http://www.theedgemarkets.com.sg/smr/?q ... 9-87358173
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Re: Overseas Union Enterprise

Postby winston » Wed Apr 12, 2017 9:38 am

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OUE Limited: Proposed issue of S$200m notes due 2022

OUE recently reported that it will issue S$200m 3.75% notes due 2022 under the S$3b multi-currency debt issuance programme established in Nov 2016.

The joint lead managers and bookrunners for the issue of these notes are HSBC and OCBC.

The notes will be issued in registered form at the issue price of 100% of the principal amount of the notes and in denominations of S$250,000 each.

The group expects that the net proceeds from the issue of these notes will be used for funding general working capital and general corporate funding purposes.

Source: OCBC
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Re: Overseas Union Enterprise

Postby winston » Fri Aug 04, 2017 8:32 am

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OUE Q2 profit down 72.6% to S$7m on lower reversal of impairment losses

by CAI HAOXIANG

DEVELOPER OUE Limited said net profit for its second quarter ended June 30, 2017, was S$7 million, down 72.6 per cent from S$25.7 million a year ago.

Revenue rose 39.5 per cent to S$187.3 million, mainly due to a higher number of OUE Twin Peaks units sold.

The group also recognised revenue for its healthcare division due to medical property firm International Healthway Corp becoming a subsidiary in March.

But profit fell mainly due to a lower reversal of impairment losses on OUE Twin Peaks.

An interim dividend of one cent a share was declared.

Net asset value per share was S$4.38 at end-June, down from S$4.45 at end-2016.

OUE last traded unchanged at S$2.05.

Source: Business Times

http://www.businesstimes.com.sg/compani ... =EREC-16-1[BT_Newsletter_1]-20170804-[OUE+Q2+profit+down+72.6%25+to+S%247m+on+lower+reversal+of+impairment+losses]&xts=538380
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Re: Overseas Union Enterprise

Postby winston » Mon Oct 09, 2017 9:25 am

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OUE Ltd
Current Sentiment: Bullish
Expect the uptrend to resume next for price to test the 2.06 resistance area followed by 2.13.

Source: Phillips
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Re: Overseas Union Enterprise

Postby winston » Tue Nov 07, 2017 1:36 pm

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OUE Limited: Hit by absence of one-time gain

OUE’s 3Q17 PATMI fell 90% YoY to S$10.7m mostly due to the absence of a one-time gain from the sale of the extension of Crowne Plaza Changi Airport (CPEX) to OUE Hospitality Trust in the same period last year, lower reversal of impairment losses at OUE Twin Peaks and softer mark-to-market gains on investments.

Overall, we deem this set of results to be broadly within expectations.

The group has commenced operations at Downtown Gallery and Oakwood Premier OUE Singapore, which will further augment the group’s recurring income base.

After updating our valuation model, our fair value estimate increases from S$2.17 to S$2.47.

Currently trading at only 0.46x price-to-book, we continue to see OUE’s shares as attractively priced.

Source: OCBC
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