United Overseas Land

[winston]

not vested

UOL GROUP LTD (UOL SP)
Recommendation : BUY
Fair Value : SGD 8.39

NAVIGATING HEADWINDS AHEAD .

FY21 core PATMI fell 10% to SGD233.6m
Singapore residential sales of SGD1.5b in 2021 but likely to slow in FY22
Hospitality operations likely to pick up more meaningfully in 2H22

UOL Group’s Singapore residential portfolio has proven to be resilient despite the Covid-19 outbreak.

Management is well known for its prudent land banking strategy.

UOL also has a diversified investment properties portfolio with a strong presence in the commercial and hotel industries, thus allowing the group to generate recurring income streams, although near-term performance has been adversely impacted by the pandemic.

Given UOL’s healthy balance sheet, it is able to embark on redevelopment projects and asset enhancement initiatives to rejuvenate its portfolio.

Source: OCBC

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UOL's net profit up 306% in 1H2022 on property development, hospitality
https://www.theedgesingapore.com/capita ... ospitality

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UOL-Singland JV wins Meyer Park en bloc deal for $392.18 million
https://www.theedgesingapore.com/news/p ... 18-million

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UOL Group reports earnings of $120.8 mil for 2HFY2022, 44% lower y-o-y
https://www.theedgesingapore.com/capita ... ower-y-o-y

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UOL currently holds the hotel at $83 million on its books. Upon completion of the sale, UOL book a gain of $446.2 million.

Group behind Hotel 81 buys UOL's Parkroyal Kitchener Hotel for $525 mil
https://www.theedgesingapore.com/news/p ... el-525-mil

[behappyalways]

UOL Group, CapitaLand JVs win tender for Tampines Ave 11 site for $1.21 bil
https://www.theedgesingapore.com/news/p ... te-121-bil

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UOL’s 1HFY2023 earnings down by 64% y-o-y to $135 mil mainly on lower fair value gains
https://www.theedgesingapore.com/capita ... alue-gains

[behappyalways]

UOL and SingLand JV awarded tender for residential site at Orchard Boulevard for $428.3 mil
https://www.theedgesingapore.com/news/p ... d-4283-mil

[behappyalways]

UOL reports FY2023 earnings of $707.7 million, declares total dividend of 20 cents
https://www.theedgesingapore.com/capita ... d-20-cents

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UOL-SingLand JV Watten House is 74% sold since its official launch on March 2
https://www.theedgesingapore.com/news/p ... ch-march-2