CapitaMalls Asia

[winston]

TOL:-

I think this counter touched 1.92 last Thursday. I think the rebound was fast and furious and it touched 2.15 yesterday.

I did not buy last Thursday. Why ? because my mind was screwing me. It keeps on telling me not to catch falling knives. It kept on telling me that the BBs was getting out else why are they selling me at this price.

it kept on telling me that the Market Direction is down and 80% of the stocks travels in the same direction of the market direction. it kept on telling me that a country of only 5m, half the world away can bring down the financial system .... yada yada ....

I did not go back to fundamentals. I did not remind myself that the IPO price was 2.12. I did not remind myself that the RNAV could be 2.28. I did not remind myself that this is an Index stock.

Well, Mr. Market threw me a Home Run and I did not swing. I have no one else to blame but myself. My mind was screwing me up and I did not see a good opportunity when it turns up. Serves me right for not having my own independent thinking.

[LenaHuat]

Underwriters' lock up period for this ticker will expire ard 26 May 2010.

[kennynah]

it kept on telling me that a country of only 5m, half the world away can bring down the financial system .... yada yada ....

i think you are not wrong that greece appears not to have an impact on singapore immediately.. singapore's exposure to EZ is conceivably manageable...

the EZ problems if go unchecked, will certainly create problems to US and to a lesser extent chinese firms (volvo, lenovo)...and that will eventually ripple to every other region... US is the single largest global consumer of products and services and China perhaps the largest internal consumption nation... by then, the world will feel the brunt...singapore wont be spared..

so, it's a question of how long this obvious economic downturn will last in EZ nations, that will determine how much impact it will have on global trades...if it takes 2 years..negative impact could be less severe, but if it lasts for 3-5 years... the outcome will be a global slowdown... no one can go unscathed...

therefore, like all investing/trading, it is all a matter of timing...

perhaps you are underestimating the seriousness of EZ issues...anyways...to each his own... i share with you my thoughts nia..which could well be unfounded...and extra spray

[profittaker]

Hi Lena, what is the implication?

Underwriters' lock up period for this ticker will expire ard 26 May 2010.

From the prospectus:

Our Company has agreed with the Joint Bookrunners and Underwriters that, from the date of the Purchase Agreement until the date falling 180 days from the Listing Date, it will not, subject to certain exceptions, without the prior written consent of the Joint Issue Managers, (i) issue, offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, lend, hypothecate or encumber or otherwise transfer or dispose of, directly or indirectly, any Shares (or any securities convertible into or exercisable or exchangeable for Shares); (ii) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of any Shares (or any securities convertible into or exercisable or exchangeable for Shares); (iii) deposit any Shares (or any securities convertible into or exchangeable for or which carry rights to subscribe or purchase Shares) in any depository receipt facilities; or (iv) publicly announce
any intention to do any of the above.

[winston]

Not vested.

RESEARCH ALERT-Nomura initiates CapitaMalls Asia with "neutral"

SINGAPORE, June 14 (Reuters) - Following is a list of Singapore stock price target changes and rating changes on Monday.

COMPANY RIC BROKER RATING (PVS) TARGET PRICE (PVS)
CAPITAMALLS NOMURA NEUTRAL (N/A) S$2.05 (N/A)

ASIA STATEMENT: We initiate coverage of CapitaMalls Asia with a "neutral" rating, on an intrinsic net asset value (NAV) and price target of S$2.05 per share.

CapitaMalls Asia looks fairly valued at current levels, with acquisitive growth, in our view, being sourced from a combination of third-party deals and from the existing development fund portfolio limiting NAV accretion.


Source: Reuters

[millionairemind]

Published July 29, 2010

CapitaMalls Asia has up to $3b to develop, buy malls

It is setting its sights on growth markets of Singapore, China and Malaysia: CEO

By EMILYN YAP

CAPITAMALLS Asia (CMA) has a potential war chest of some $2.5-3 billion for developing and buying malls, and it will be targeting its firepower at Singapore, China and Malaysia.

The retail property group's shares may have been hovering below the initial public offering price, but they should perform better in the longer term.

CMA chief executive Lim Beng Chee shared these views in an interview with the press yesterday. The group is sitting on around $1 billion of cash, which includes proceeds from the listing of CapitaMalls Malaysia Trust (CMMT) and the sale of Clarke Quay to CapitaMall Trust.

With that, the group can borrow another $1.5-2 billion for investments. This situation presents a 'very good opportunity' for acquisitions, he said.

In Singapore, the market has improved from a year ago, Mr Lim said. The economy has picked up, retail sales have grown, and tourist arrivals have increased.

CMA is eyeing state land for mall developments, and it is particularly keen on areas where it already has a presence. These would include the Jurong district, where IMM and the upcoming JCube are.

The group had bid for a mixed-use site in the Jurong Lake district in June, but lost out to Australian developer Lend Lease. 'It's ok, there are always sites two and three' in that area, Mr Lim said.

Another plot of interest is the one at Stamford Road/North Bridge Road, where Capitol Theatre is. The tender for the site will close next month and the winning developer can build an underground link to City Hall MRT station. Raffles City Singapore, which CMA has a stake in, is right next to the station.

Asked if CMA will be bidding for that land parcel, Mr Lim said: 'We'll consider any site.'

There have been concerns about an oversupply of retail space in Singapore but Mr Lim believes in just the opposite. 'My problem is, I've got no space.'

According to him, many global retail brands such as Abercrombie & Fitch are not here because they have a problem finding space for large flagship stores.

Besides Singapore, China remains a key growth market for CMA. The Chinese government is trying to boost domestic consumption for economic growth and CMA can benefit from that trend, Mr Lim said.

In Malaysia, CMA is also looking to acquire or develop malls. It is setting up a RM1 billion (S$428 million) fund for this.

Despite the many growth plans, investors appear unexcited. CMA's shares have been trading below their listing price of $2.12 in the last one month. The counter closed unchanged at $2.05 yesterday.

'I think a lot of shareholders don't understand this business,' Mr Lim said, explaining that CMA runs longer term operations of building and managing malls.

On the gap between the share price and the listing price he said: 'My sense is, we can actually overcome this very easily.

'It's a question of us making a few acquisitions over time that could actually correct the share price... I have no doubt that over time it will correct.'

[millionairemind]

August 3, 2010, 5.59 pm (Singapore time)

CMA's Q2 net profit falls 23.7%, looking for acquisitions
By ANGELA TAN

CapitaMalls Asia Limited (CMA) reported on Tuesday that its net profit for the second quarter to June 30, 2010 fell 23.7 per cent to $113.06 million (US$83.58 million).

Revenue rose 32 per cent to $73.01 million.

For the first six months of 2010, net profit grew 32 per cent to $209.84 million, while revenue rose 36.4 per cent to $147.64 million.

Liew Mun Leong, chairman of CMA said: 'The recycled capital from the successful listing of CapitaMalls Malaysia Trust and monetisation of Clarke Quay has strengthened our balance sheet, and we are well-positioned to pursue up to $3.0 billion worth of development and acquisition opportunities.'

Mr Liew said the group is targeting to invest between $800 million and $1 billion of that capital in new projects in Singapore, China and Malaysia in the second half of this year, to continue building our portfolio of retail properties for our long-term growth.

[winston]

Not vested

CapitaMalls Asia ST: target 2.07 <CMAL.SI>


Click here to see our chart:
http://www.tradingcentral.com/chart/CMA ... 034918.gif

2.29 is our pivot point.

Our preference: target 2.07.

Alternative scenario: above 2.29, look for 2.36 and 2.41.

Comment: the RSI is below its neutrality area at 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the stock is below its 20 day MA (2.18) but above its 50 day MA (2.13).

Supports and resistances: 2.36 *2.29 **2.26 2.18 last 2.11 2.07 **2.03 *


Source: Reuters

[LenaHuat]

I don't understand investors' appetite for this IPO. Maybe I have missed some sentiments.
Isn't this pre-investment? Why would I want to pre-invest in this ticker? Its CEO said on TV that it cost some $200m to $250m to build a mall in China. They have so many in the pipeline and these will not yield ROE until some 2 to 3 years down the road. Wouldn't I have plenty of time to pick it up?

BTW, it's 4.9 times oversubscribed. Nevertheless, good wishes to those who hope to stag successfully.

Bumped this thread up to remind myself that it's going to be a year after its IPO.

[iam802]

2010Oct-CapMallsAsia-800x600.png

Note:
- some support at current level
- seems to be weak; lacking momentum