Genting Singapore, touted as a recovery play, trades near eight-month low price! (5 Aug 23)

Dear all Recently, Genting Singapore, a supposedly recovery play, closed at a near eight-month low price. It caught my attention especially after Las Vegas Sands (LVS) reported results on 19 Jul 2023. LVS reported a good set of results and indicated that there is scope for further improvement, as China tourists have not come back in full force yet. While the details (such as VIP volume growth and win percentage) may differ markedly from LVS (i.e., Marina Bay Sands) and Genting Singapore, generally speaking, the good set of results in MBS increases the chance that Genting Singapore may report similar […]

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

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 […]

Aztech looks interesting – lowest forward PE among SG tech stocks with a 5.6% estimated dividend yield! (16 Apr 22)

Dear all This week, Aztech has caught my attention amid rising volume with its 1QFY22F business update just around the corner. It has fallen approximately 39% from an intraday high of $1.56 on 27 Apr 2021 to close at $0.950 last Thursday. Let’s take a look on the interesting points and potential risks on Aztech.   Interesting points a) Analysts like Aztech with average target price $1.44 With reference to Figure 1 below, 4 analysts cover Aztech and all rate it a buy. Average analyst target price is around $1.44. If the analysts are right, Aztech offers a potential capital […]

Markets – diverging signs from technicals and fundamentals. What should we do? (4 Apr 2022)

Dear all March has been a roller coaster month. Hong Kong market, represented by Hang Seng index touched multi-year lows around 14-15 Mar and has rebounded approximately 21% from the intraday lows. S&P500 performed well too with a third consecutive weekly rise. With reference to my writeup (click HERE) published on 6 Mar 2022, I mentioned that a) Odds are likely of a downward push first I mentioned that based on chart, odds are higher for a downwards move for both S&P500 and STI, to retest the previous support around 4,115 – 4,222 and 3,138 – 3,200 (with 3,175 a […]

STI – Will it head for new YTD high after S&P500 clocked its 7th consecutive day of rally? (6 Jul 2021)

Dear all S&P500 and Nasdaq clinch fresh record highs last Friday with S&P500 clocking in seven consecutive days of gains in its longest winning streak since August 2020. Despite the roaring U.S. markets, Singapore Straits Times Index (“STI”) has slipped almost 100 points from its 2021 intraday high of 3,237 on 30 Apr 2021 to close 3,141 on 5 Jul 2021. Can STI exceed 3,237 for 2HFY2021? Most strategists believe so, as their year-end targets for STI are easily above 3,237. Let’s look at the possible reasons why analysts are positive on our Singapore market.   Reasons to be optimistic […]

7 reasons why Private Resale Condos may be better than new launch for HDB upgraders (6 Mar 21)

This write-up was reproduced with permission from Ray’s Estate Clinic, written by Founder, Raymond Chng. Please refer to the end of the article for more information on Raymond. Since 2018, we have been sharing with our clients and readers that resale properties are good options. Today, as of the date of writing, there are still a handful of readers asking us if resale properties can be profitable. The simple answer is – Yes! There are considerations that property buyers should note about New Launch properties, in particular for HDB upgraders. Most HDB upgraders who are selling off their BTOs would […]

Yangzijiang – 2nd worst performing STI stock with -40% YTD (6 Aug 2018)

Yangzijiang (“YZJ”) has been the 2nd worst performing STI stock with -40% year to date (“YTD”) return based on the closing price of $0.880 on 6 Aug 2018 (click HERE). In the past four days, YZJ has weakened approximately 9.3% after hitting the intraday high of $0.970 on 31 Jul 2018. Is this recent share price decline the harbinger of poor results to be released on 7 Aug, after market?   2QFY18 results unlikely to be poor Based on my personal view, 2QFY18F results are unlikely to be poor based on the following points: a) Number of vessels delivered Based […]

Venture approaches bear territory! Should we sell? (24 Apr 18)

Dear all, Venture has entered into bear territory after dropping 21% from an intraday high of $29.65 on 13 Apr 2018 to close $23.40 on 24 Apr 2018. What should we do? Let’s examine the chart and some noteworthy points on Venture.   Chart analysis Based on Chart 1 below, Venture’s chart seems to resemble a bearish double top formation. The break below its neckline $26.95 points to an eventual technical measured target $24.60 which is already attained today. 20D, 50D and 100D exponential moving averages (“EMA”) have started to turn lower amid the sharp drop. Venture closed below its […]

DBS – potential trading idea going to XD (26 Mar 18)

Dear all, Based on a simple tracking of DBS’ share price performance from CD to XD, on average, DBS seems to move approximately 4-9% above its CD price, nearer to XD (translating to around S$27.86-29.13). See Table 1 below. DBS is going to XD $1.10 on 3 May. Table 1: DBS’ share price performance from CD to XD Source: Ernest’s compilations   What are the analysts saying? Based on Figure 1 below, average analyst target is around $31.15. At $27.21, this represents a potential capital upside of around 14.5%. Estimated div yield is around 4.1%. There are 17 buy; 6 […]