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Stocks In Focus SG (Chiwayland, OUE Hospitality Trust, ParkwayLife REIT) – 01/12/14
Daily Bulletin | 01 December 2014
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Amplefield’s revenue gained 45.9 percent to $9 million for the year ended 30 September, mainly attributable to progress billings from the group’s new core business of property development, construction and construction management as well as a facilities provider. However, a $1.2 million outflow to non-controlling interests eroded any gains to net profit. Consequently, net profit dropped 49 percent to $0.6 million. Holdings’ revenue gained 4.4 percent to $90 million for the full year ended 30 September, driven by higher contributions from its B2C hotel reservation, B2B (TA Centre), online tour and flight package and online China outbound business segments. However, as the expansion in overall expenses outpaced the growth in revenue, the company sank further into losses and recognised a net loss of $9.6 million.

Chiwayland International won the bid for land use rights for a land parcel located in Suzhou Industrial Park, Jiangsu Province, China, at a bidding price of Rmb186.5 million (approximately $39.5 million). The site area of the land parcel is 19,110.5 square meters with a plot ratio of 2.2 to 2.4 times, and is expected to be developed into commercial and residential units. The group intends to finance the land acquisition by internal source of funds.

Keppel Corporation sold the entire share capital of Keppel FMO (KFMO) for $44.7 million in cash that is subjected to a post-closing adjustment for working capital and a deferred consideration amount of up to $9.7 million. KFMO’s primary business activity is the provision of integrated facilities management for clients across various industries and business segments in both the public and private sectors.

OUE Hospitality Trust proposed the acquisition of Crowne Plaza Changi Airport (CPCA), a hotel property that is connected to Changi Airport Terminal 3, from its sponsor for $495 million. The purchase consideration includes a $205 million capital expenditure which will expand the room capacity of CPCA. In addition, the average valuation of CPCA and capital expenditure is $494.5 million, while an income support will be provided by its sponsor for twelve quarters. The trust is considering to finance the acquisition either fully by debt or a mix of debt and equity financing.

Parkway Life Real Estate Investment Trust proposed the acquisition of a 76-room nursing home property located in Fukuoka, Japan, for JPY3.5 billion (approximately $39.3 million). In view of its expected net property yield of 5.8 percent, the property is expected to be yield-accretive for unitholders and is purchased at its fair value according to a valuation report dated 11 November. The trust intends to finance the acquisition by cash.

PNE Micron Holdings’ turnover gained 3.6 percent to $18 million for the year ended 30 September, mainly attributable to an increase in the demand of Electro Deposition coating services and metal components from existing customers. Subsequently, the company reversed losses and recognised a net profit of $0.8 million. Hldgs  -- -- --   
Business: Co provides online travel products & services. [FY17 Turnover] Hotel reservation (71.1%), tour packages (27.9%), others (1%).

Insight: May-18, 1Q18 revenue decreased by 71.5% as Co clos... Read More
Keppel Corp  6.290 +0.07 +1.13%   
Business: [FY18 Turnover] Infrastructure (44.1%), offshore & marine (O&M) (31.4%), property (22.5%), investments (2%).

Insight: Apr-19, 1Q19 revenue rose 4.1% underpinned by high... Read More
OUE Hospitality Trust  -- -- --   
Business: A stapled group comprising OUE H-REIT & OUE H-Biz Trust with a portfolio primarily focused in the hospitality &/or hospitality-related purposes.

Insight: May-19, 1Q19 revenue slid 3% due to lower revenue ... Read More
Parkway Life REIT  3.050 -0.01 -0.33%   
Business: Invs REIT specialising in healthcare ppties.

Insight: Jul-18, 1H18 gross revenue rose 2.3% to $55.9m lar... Read More
Sen Yue Hldgs  -- -- --   
Business: [FY18 Turnover] Commodities (92.1%), electro-deposition coating services (5.6%), metal components (1.9%), others (0.4%).

Insight: May-19, 1H19 revenue inched up 1.4% to $127.3m att... Read More

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