United Overseas Land

Re: United Overseas Land

Postby behappyalways » Tue Jul 17, 2018 5:13 pm

UOL acquires 180 apartments in Jakarta for $76.3 mil; inks agreement to operate PARKROYAL Jakarta
https://www.theedgesingapore.com/uol-ac ... al-jakarta
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Re: United Overseas Land

Postby behappyalways » Sat Aug 04, 2018 1:06 pm

UOL posts 21% rise in 2Q earnings to $132.7 mil on UIC consolidation
https://www.theedgesingapore.com/uol-po ... solidation
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Re: United Overseas Land

Postby winston » Mon Aug 06, 2018 9:26 am

not vested

Steady performance

2Q/1H18 EPS is deemed in line with our projections, at 22%/39% of our FY18 forecast.

Rolling out The Tre Ver development, and another 3 new launches during 2H18-2019.

Rental income impacted by lower retail contributions; hotel performance stable.

Maintain Add with an unchanged TP of S$8.45.

Source: CIMB

https://brokingrfs.cimb.com/JCOIs7ITT7e ... Gp1Vw2.pdf
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Re: United Overseas Land

Postby winston » Wed Nov 14, 2018 9:49 am

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UOL Group: Don’t worry, there’s still time

UOL’s 3Q18 results met our expectations, with core PATMI growing 4.9% YoY to S$92.8m.

While UOL highlighted that the recent property cooling measures had negatively affected sentiment, it remains comfortable at the current run-rate of close to 70% and 30% sales for its Amber45 (six months after launch) and The Tre Ver projects (four months after launch), respectively.

Looking ahead, UOL plans to launch two projects in 2Q19, with its Silat Avenue project a potential beneficiary of the government’s upcoming Greater Southern Waterfront project.

UOL’s hotels RevPAR performance and retail rental reversions were mixed, but its office portfolio performance was more robust, with healthy leasing momentum and occupancy rates.

It would seek to grow its recurring income streams, including in Australia, given the residential headwinds in Singapore.

After adjustments, our fair value estimate for UOL moves from S$8.48 to S$8.41.

Maintain BUY with a fair value estimate of S$8.41.

Source: OCBC
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Re: United Overseas Land

Postby winston » Wed Nov 14, 2018 10:13 am

vested

Business as usual

3Q/9M18 core net profits are broadly within expectations, at 22%/60% of our FY18 forecasts. Expect 4Q to pick up on more progressive billings.

New launches seeing steady buying traction, largely stable recurrent income.

Maintain Add, TP unchanged at S$8.45.

Source: CIMB

https://brokingrfs.cimb.com/-KUbUutM4r8 ... AB2dg2.pdf
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Re: United Overseas Land

Postby winston » Wed Nov 14, 2018 10:13 am

vested

Business as usual

3Q/9M18 core net profits are broadly within expectations, at 22%/60% of our FY18 forecasts. Expect 4Q to pick up on more progressive billings.

New launches seeing steady buying traction, largely stable recurrent income.

Maintain Add, TP unchanged at S$8.45.

Source: CIMB

https://brokingrfs.cimb.com/-KUbUutM4r8 ... AB2dg2.pdf
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Re: United Overseas Land

Postby behappyalways » Sat Nov 17, 2018 6:28 pm

UOL 3Q earnings down more than sixfold to $93 mil post UIC consolidation
https://www.theedgesingapore.com/uol-3q ... solidation
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Re: United Overseas Land

Postby winston » Wed Dec 12, 2018 2:06 pm

not vested

HOLD
Price Target 12-mth: S$7.15 (14% upside) (Prev S$7.82)

What’s New

First foray into Australia office market; in line with plans to build recurring income
Expected to launch remaining land bank (>1,000 units) by 2Q19
Attractive valuations but limited near-term positive catalysts from Singapore property
Maintain HOLD; lowered TP to S$7.15 from S7.82 previously

Source: DBS

https://researchwise.dbsvresearch.com/R ... VyaWRAQA==
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Re: United Overseas Land

Postby winston » Wed Feb 27, 2019 9:59 am

not vested

FY 2018 Results

UOL Group on Tuesday posted a 51 per cent drop in group net profit to S$433.7 million for the year ended Dec 31 from S$880.2 million in the preceding year, due mainly to a S$535.6 million gain recognised upon the consolidation of the United Industrial Corporation group (UIC) in FY2017.

Excluding this one-off gain, net profit would have risen 26 per cent.

Group revenue climbed 13 per cent to S$2.4 billion in FY2018 due mainly to the full-year consolidation of revenue of the expanded group.

Source: Phillips
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Re: United Overseas Land

Postby winston » Wed Feb 27, 2019 10:02 am

not vested

UOL Group: Two new SG launches in 2019

UOL’s FY18 results met our expectations, with core PATMI inching down slightly by 0.9% to S$348.4m.

A first and final dividend of 17.5 S cents per share was declared, unchanged from FY17.

Looking ahead, UOL will launch two projects in Singapore in 2Q19, namely MEYERHOUSE and Avenue South Residence.

While land tenders have become more subdued, UOL will adopt a selective approach towards replenishing its landbank.

For its investment properties, its retail portfolio in Singapore registered a 2.4% increase in shopper traffic in FY18.

Although rental reversions were mixed, it was slightly positive on an overall portfolio basis.

Its Singapore office portfolio also saw positive rental reversions, but this was boosted by some short-term lease extensions signed at above-market rents. Excluding this, rental reversions were slightly negative in FY18.

After fine-tuning our assumptions, our RNAV-derived fair value estimate increases slightly from S$8.41 to S$8.45.

Maintain BUY with a fair value estimate of S$8.45.

Source: OCBC
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