Ernest Lim's investing blog

Unique insights into SGX small caps

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Lendlease Reit – Under-appreciated reit; yields >7% per annum! (3 Jul 23)

el15

Dear all Lendlease Reit (“Lendlease”) caught my attention as according to consensus, it offers a potential dividend yield of around 7.1% in each of FY23F and FY24F (financial year ends in June). Furthermore, 7 analysts have rated Lendlease a buy with average analyst target price $0.85, representing a potential capital appreciation of around 28.8%. Lendlease closed at $0.660 on 30 Jun 2023. For a reit, such returns, if they indeed materialise, are rather substantial. As such, this leads me to dig deeper into the reit. Last month, I am fortunate to meet Mr Kelvin Chow, CEO of Lendlease Global Commercial […]

China Railway Construction (01186.HK) – Bargain buy, or value trap? (22 Sep 2020)

el15

China Railway Construction (“CRCC”) recently caught my attention as it has tumbled approximately 44% from an intraday high of $9.99 on 5 Mar 2020 to close HKD5.64 on 21 Sep 2020. Is this a bargain buy, or a value trap? Let’s take a look.   First up, a description of CRCC Quoting from its 1HFY20 results, CRCC’s businesses cover a variety of construction, survey, design and consultation, manufacturing, real estate development, logistics and materials trading and other business with refined industry chain covering scientific research, planning, survey, design, construction, supervision and management, maintenance, operation, investment and financing, etc.   Six […]