Stamford Land 03 (Feb 11 - Dec 25)

Re: Stamford Land 03 (Feb 11 - Dec 14)

Postby winston » Mon May 26, 2014 7:37 pm

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Stamford Land reported headline net profit of SGD27.1m for FY14, a decline of 14% yoy.

Stripping out revaluation gains from its Perth office property in the prior year, we estimate core earnings growth of 20%.

Notwithstanding a weaker AUD, Stamford’s hotel division comprising 7 hotels in Australia and one in New Zealand, delivered a 6% rise in operating profit to SGD40.1m on the back of a recovery in its Adelaide hotels and higher occupancies.

Its property division reported higher turnover of SGD48m (+118% yoy) from sale at its Auckland project (Stamford Residences Auckland) and Sydney (Stamford Residences Reynell Terraces).

Taking advantage of a strong residential market in Sydney, Stamford Land has substantially sold its upcoming project Macquarie Park Village, a re-development of its North Ryde hotel property. However, revenue and profit recognition will only commence in 2017 on completion.

Meanwhile, the group has obtained development approvals for the redevelopment of its Sir Stamford Circular Quay hotel and Dulwich Hill property, and we expect these projects to be progressively launched over the course of the next 12 months.

The group maintained an unchanged payout of SGD 3 cents,translating to a dividend yield of 5%.

We reiterate a BUY on the stock with a TP of SGD0.73, premised on a 30% discount to its RNAV of SGD1.04.

Source: DMG
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Re: Stamford Land 03 (Feb 11 - Dec 14)

Postby winston » Tue May 27, 2014 5:07 am

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Time: 2:35PM
Exchange: SGX
Stock: Stamford Land(H07)
Signal: Resistance - Breakout with High Volume
Last Done: $0.615

Source: UOBKH
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Re: Stamford Land 03 (Feb 11 - Dec 14)

Postby winston » Thu May 29, 2014 7:31 pm

Stamford Land

Background

Stamford Land is the largest independent owner-operator of luxury hotels in Australasia with 7 luxury hotels in Australia and 1 in New Zealand. It is also a property developer with iconic developments that include the Stamford Residences & The Reynell Terraces situated in Sydney and the Stamford Residences Auckland.

Comments

Revenue grew 4.5% to S$278.7m in FY14 (March year-end). The hotel segment reported an overall 3% increase in revenue in AUD but was significantly impacted by the slide in the AUD during Apr-Aug 2013. The AUD slide has since stabilized. The property development segment reported higher revenue from the sales of more apartments. A 3ct dividend was declared that translates to a 4.8% yield.

The Group is optimistic of its hotel business prospects for FY2015. Capitalizing on the robust Sydney residential property market, management plans to unlock greater value from 2 of its existing Sydney hotels, Stamford Grand North Ryde & Sir Stamford at Circular Quay, by redeveloping them into residential properties for sale. It will realize benefit from these property development initiatives only upon their completion.

Technical comment

The stock triggered a 52-wk high this morning, the first time in a year, when it rose above $0.62. Simultaneously, a multi-year downtrend line in existence since January 2011 is also broken to the upside today.

Both are potential positive technical signals. The near-term base is at $0.61. The upside potential is taken at 20% above the 52-wk high trigger, at $0.745. The stop loss is 5% below the 52-wk high trigger, at $0.59.

Source: DBS
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Re: Stamford Land 03 (Feb 11 - Dec 14)

Postby winston » Thu Jun 26, 2014 8:27 pm

Mulpha Sues Singapore Firm Over Sydney Opera House View

MELBOURNE: Malaysian conglomerate Mulpha is suing Singapore’s Stamford Land Corporation in a Sydney court tomorrow over the redevelopment of the Sir Stamford Hotel at Sydney’s Circular Quay.

The aim was to transform the hotel into a A$400 million (RM1.2 billion) apartment block, but battlelines have been drawn over how planning and heritage authorities have handled the project, The Australian newspaper reports.

Mulpha International Bhd, headed by Lee Seng Huang, who took over the reins from his billionaire father Lee Ming Tee, is suing Stamford Land Corporation, controlled by Singaporean tycoon C. K. Ow, over plans to convert the Sir Stamford, with the building set to double in height.

Mulpha owns the InterContinental Sydney and adjoining Transport House, which sits behind the Sir Stamford.

The demolition of the Sir Stamford and its replacement with a 19-floor tower would affect the view from the InterContinental, including of the Opera House.

Mulpha alleges that not only did the New State Wales Heritage Council misinterpret large sections of local planning controls, but also the City of Sydney did not forward all negative public submissions about the proposal to the Heritage Council.

According to the newspaper, planning controls call for a 35-45m building overlooking the Botanic Gardens, with the tower set back by 10m.

Stamford wants the building to rise 22.5m along the street line, and is arguing for a smaller set-back, in parts of only 6.2m, according to a report prepared by urban planning firm Architectus for the Heritage Council.

The project has yet to receive council approval, but the City of Sydney found the set-back was “appropriate” and referred the proposal to the Heritage Council, which was “prepared to issue an approval”, according to the summons.

Source: The Rakyat Post
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Re: Stamford Land 03 (Feb 11 - Dec 14)

Postby winston » Wed Jul 30, 2014 5:57 pm

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Stamford Land (66 cents, up ½ cent) 1Q to June’14 sales fell 13% to $56mln while profit plunged 48% to $3.3mln, hurt by weaker performances of their hotels in Sydney (Stamford Grand North Ryde) and Brisbane (Stamford Plaza Brisbane).

The Australian Dollar which fell more than 4% also aggravated the weak performance.

The property development segment fell 68% to $2.6mln due to the absence of TSRRT in the current period resulting from the
sale of 3 apartments at TSRA.

The trading segment fell 30% due to lower contributions from the interior decoration and travel agency businesses.

As a result of the impending closure of SGNR and some weakness seen in Brisbane, the hotel segment overall performance is expected to remain weak going forward.

In particular, the next quarter is not expected to improve much, refl ecting the imminent closure of SGNR, advance
expenditure incurred (without matching revenue) for the preparation of development sites including marketing for Dulwich Hill
and Stamford on Macquarie.

Construction for Macquarie Park Village (MPV) is expected to commence in 4Q’14. No revenue will be recognized from MPV
until its completion in 2017.

Development approval for Dulwich Hill was obtained in June’14 and the marketing campaign for the 250 unit residential
project is expected to commence in 4Q’14.

The bright spot remains Dynons Plaza Perth which will continue to perform well, underpinned by fixed lease income of more
than A$11mln per year until 2020.

Stamford Land’s 2 cent normal and 1 cent special dividend (unchanged from last year) will go ex-div on 1 Aug’14.

Net gearing is 51%.

At 66 cents, Stamford Land is capitalized at $570mln and its price to book is 1.14x and giving a decent yield of 4.5%.
HOLD.

Souce: Lim & Tan
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Re: Stamford Land 03 (Feb 11 - Dec 14)

Postby winston » Mon Dec 29, 2014 8:30 am

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Stamford Land announces sale of property of subsidiary

Dec 26 (Reuters) - Stamford Land Corporation Ltd :

* Sale of property of a subsidiary * Deal for consideration of A$51 million
* Deal in relation to the sale of Slc Campsie's Freehold property
* Disposal is expected to result in an after-tax gain of approximately A$15.7 million for the financial year ending 31 March 2015

Source: Reuters
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Re: Stamford Land 03 (Feb 11 - Dec 14)

Postby winston » Mon Jan 26, 2015 11:20 am

vested

Time: 10:16AM
Exchange: SGX
Stock: Stamford Land(H07)
Signal: Bullish MACD Crossover
Last Done: $0.56

Source: UOBKH
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Re: Stamford Land 03 (Feb 11 - Dec 15)

Postby winston » Thu Feb 12, 2015 4:50 am

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Stamford Land Corporation said that net profit for the fiscal third quarter fell 14.7 per cent on weaker sales.

Earnings for the three months ended Dec 31, 2014 stood at S$12.8 million compared to S$15 million from a year ago.

Revenue fell 18.8 per cent to S$67.8 million as property developement revenue dropped 72 per cent from S$19.9 million to S$5.6 million.

Source: Business Times
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Re: Stamford Land 03 (Feb 11 - Dec 15)

Postby winston » Thu Mar 05, 2015 11:45 am

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Time: 9:55AM
Exchange: SGX
Stock: Stamford Land(H07)
Signal: Bullish MACD Centerline Crossover
Last Done: $0.56

source: UOBKH
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Re: Stamford Land 03 (Feb 11 - Dec 15)

Postby winston » Tue Mar 10, 2015 1:05 pm

vested

Time: 9:32AM
Exchange: SGX
Stock: Stamford Land(H07)
Signal: Bullish MACD Centerline Crossover
Last Done: $0.555

Source: UOBKH
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