APAC Realty *Official* (SGX:CLN)

[Shion]

Reject the $0.57 offer says IFA to APAC Realty's independent directors​

https://www.theedgesingapore.com/ne...r-says-ifa-apac-realtys-independent-directors
The independent financial advisers, Xander Capital, to the independent directors of APAC Realty have advised its board to reject the offer of $0.57 per share from NHPEA Ace Realty Company.

"Based on our analysis and after having considered carefully the information available to us as at the Latest Practicable Date, we are of the opinion that, as of the date hereof, the terms of the Offer, on balance, are not fair and not reasonable. Accordingly, we advise the Directors to recommend Shareholders to REJECT the Offer," Xander said in the offer circular.

On April 25, NHPEA Ace Realty Company , an entity controlled by Morgan Stanley Private Equity Asia, made an unconditional mandatory general offer for all the outstanding shares in the capital of APAC Realty that it didn't own.


SAC Capital Private which is acting on behalf of the Offeror had, on April 25 entered into a share purchase agreement (SPA) to acquire 212.3 million shares or 59.8% of APAC Realty from Asia Pacific Realty Holdings at $0.61 per share.

As a result of the SPA, NHPEA Ace Realty Company is obliged to make the Offer. The offer price for each Offer Share is $0.57 which is the price paid by NHPEA net of final tax exempt (one-tier) dividend of $0.04 per share which was paid on May 10.

The Offer will close at 5.30 p.m. (Singapore time) on June 10.

 

[Shion]

Apac Realty posts 2.1% dip in H1 earnings to S$16.7 million​

https://www.businesstimes.com.sg/co...y-posts-21-dip-in-h1-earnings-to-s167-million
REAL estate services provider Apac Realty reported earnings of S$16.7 million for the first half ended June, some 2.1 per cent lower than earnings of S$17 million in the year-ago period.

Earnings per share (EPS) fell in tandem to S$0.047 as at Jun 30, from S$0.048 a year ago.

The decline was largely due to a 4.4 per cent drop in total revenue to S$342.6 million in H1, from S$358.4 million a year ago.

Revenue from real estate brokerage fees and related services slid 4.5 per cent to S$340.4 million, mainly due to a decrease in brokerage income from resale and rental of properties.

This was partially mitigated by an increase in brokerage income from new home sales.

Gross profit inched up 0.2 per cent to S$35.3 million in H1, on the back of slightly better margins from new home sales.

The company said developers in Singapore sold 4,546 private residential units – including executive condominiums – in H1, some 40.2 per cent lower than a year ago due to fewer new home launches.

Meanwhile, sales in the private residential resale market fell 21.4 per cent to 7,932 units, while the Housing Development Board (HDB) flat resale market recorded a 6.1 per cent drop in transactions to 13,753 units.

Apac Realty noted that, based on market data, its real estate services under the ERA brand ended the first half with a 40 per cent share of Singapore’s residential property market.

Apac Realty has declared an interim dividend of S$0.035 per share for H1.

“While the Singapore market continues to face challenges of rising interest rates, higher inflation and rising government land sales (GLS) land costs, we believe that the Singapore market will remain relatively resilient in 2022,” said Apac Realty chief executive officer Marcus Chu.

“With increasing interest from local homebuyers and foreign investors to the Singapore market, demand for quality residential spaces continues to outweigh supply, especially for new homes. We believe that this demand will negate the impact of some of these challenges,” he added.

Shares of Apac Realty closed 2.8 per cent or S$0.02 lower at S$0.685 on Aug 8, before the results announcement.

 

[Shion]

Analysts positive on APAC Realty following robust project pipeline and future growth drivers​

https://www.theedgesingapore.com/ca...-following-robust-project-pipeline-and-future
Analysts at DBS Group Research and CGS-CIMB Research have maintained their “hold” and “add” calls on APAC Realty CLN 0.00% , highlighting its robust project pipeline.
DBS analyst Ling Lee Keng notes that as at Feb 22, the company has secured marketing agent mandates of 36 residential projects with close to 12,000 new home units launched and to be launched in FY2023.

In 2022, APAC Realty’s ERA was appointed sole or joint marketing agent to 14 projects with a total of 4,032 units or an estimated 30.6% of the market share of the new homes segment.

“As the growth of the business is dependent on the agent strength, the group has set a target of achieving an agent count of approximately 10,000 agents over the next two years. As at Feb 22, ERA Singapore had 8,527 trusted agents — an increase of 5% from 8,144 trusted agents on Jan 1,” adds Ling.

To drive growth going forward, APAC Realty has executed its regional expansion strategy with the acquisition of an additional 22% stake in ERA Vietnam, bringing its total ownership to 60%.

The firm had also established its Capital Markets and Investment Sales (CMIS) business unit on Feb 22 to engage individual and institutional investors with services across the commercial, industrial, retail and residential sectors, says CGS-CIMB analyst Lock Mun Yee. To date, the CMIS team has recorded over $43 million in transaction value and secured marketing roles for projects with a total transaction value of about $1.58 billion.

On the back of a resilient property market supported by demand from both local home buyers and foreign investors, DBS has tweaked their property transaction volume assumption for APAC Realty’s various segments by 5% to 7% for FY2023 and FY2023. Consequently, earning estimates for FY2023 and FY2024 were raised by 13% and 17% respectively.

With higher earnings forecasts, DBS’s target price is raised to 63 cents from 59 cents previously, pegged to 8.5x PE FY2023 earnings, near its average four-year PE.

“1HFY2023 could still be weak from the cooling measures introduced on Sept 30, 2022 and also the high interest rate environment. 2HFY2023 could be stronger with more new launches expected to be rolled out,” says Ling.

Meanwhile, Lock tweaks her FY2023 to FY2024 EPS upwards by 0.95%-2.02% post APAC Realty’s results aside from maintaining her target price at 77 cents.

CGS-CIMB believes APAC Realty’s share price is likely supported by a projected FY2023 dividend yield of 11.3%. Lock cites ability to gain further market share in both the primary and secondary residential segments and identifying new growth drivers as a key rerating catalyst.

As at 3.26pm, shares in APAC Realty are trading 0.5 cents higher or 0.8% up at 63 cents.

 

[Shion]

APAC Realty reports 1QFY2023 earnings of $3.0 mil, 67% lower y-o-y​

https://www.theedgesingapore.com/ca...ports-1qfy2023-earnings-30-mil-67-lower-y-o-y
APAC Realty CLN 0.00% has reported earnings of $3.0 million for the 1QFY2023 ended March 31, 67% lower y-o-y.

Total revenue for the period fell by 29% y-o-y to $121.4 million as revenues for the group’s new home brokerage and resale and rental brokerage fell.

New home brokerage saw revenue fall by 49% y-o-y to $39.4 million while resale and rental brokerage revenue fell by 13% y-o-y to $80.3 million during the quarter.

Other revenue increased slightly to $2.0 million, 5.3% higher y-o-y.

Gross profit fell by 25% y-o-y to $13.7 million.

As at May 9, the group had over 8,700 agents representing around 25% of the market share in terms of agent count in Singapore. ERA also achieved a market share of around 35% of the residential property market (excluding leasing) in the 1QFY2023.

In its presentation, the group highlighted several concerns for the rest of the year such as the expected slowdown in the global economy. The possible turmoil in the overseas banking sector, the high interest rate environment as well as the recent property cooling measures by the Singapore government are also concerns.

Shares in APAC Realty closed flat at 62.5 cents on May 12.

 

[Shion]

APAC Realty earnings increase almost threefold for 1HFY2025 to $11.3 mil​

https://www.theedgesingapore.com/ca...gs-increase-almost-threefold-1hfy2025-113-mil

APAC Realty has reported earnings of $11.3 million for the 1HFY2025 ended June 30, up 176.4% y-o-y.

The group’s revenue for the 1HFY2025 came in 28.8% y-o-y higher at $341.5 million, resulting in a profit after tax of $11.1 million, up 202.3% million y-o-y.

The group says that this threefold increase in profitability is driven primarily by robust activity in the new private residential segment during the period.

Revenue from new home sales more than doubled to $131.2 million, driven by a marked increase in transaction volumes, as developers sold 5,566 private residential units (including ECs) compared to 2,484 units in the same period last year.

Resale and rental revenue held steady at $206.7 million in 1HFY2025.

As a result, the group’s gross profit rose 46.2% y-o-y to $35.8 million in 1HFY2025.

As at June 30, the group’s cash balance stood at $47.6 million. It generated a positive operating cash flow of $15.6 million during the period compared to a net cash outflow in the same period a year ago.

The board of directors has recommended an interim dividend of 2.70 cents per share, representing a payout ratio of 78.1%.

This uptick in Singapore’s private home market momentum is expected to sustain well into the second half of 2025 and into 2026, particularly as the government is expected to sustain a high level of private housing supply, the group says.

Recent adjustments to the Seller’s Stamp Duty (SSD) framework are also expected to reduce speculative activity, even though the market impact is anticipated to be limited as most market participants are expected to be genuine owner-occupiers or long-term investors.

Shares in APAC Realty closed 1 cent higher or 1.60% up at 63.5 cents on Aug 8.

 

[Dividends Warrior]

APAC Realty earnings increase almost threefold for 1HFY2025 to $11.3 mil​

https://www.theedgesingapore.com/ca...gs-increase-almost-threefold-1hfy2025-113-mil

This bodes well for PropNex's earnings.

 

[addict951]

.027 CD announced!

 

[Shion]

APAC Realty proposes 1-for-5 bonus issues; celebrates eight years of listing on mainboard​

https://www.theedgesingapore.com/ne...sues-celebrates-eight-years-listing-mainboard

APAC Realty has announced that it is proposing a 1-for-5 bonus issue of new ordinary shares to reward shareholders as part of celebrating its eighth year of listing on the SGX Mainboard.

Subject to approval, entitled shareholders will receive one fully paid bonus share for every five ordinary shares held, says APAC Realty.

The increased number of issued shares after the proposed bonus issue will also enhance the trading liquidity of the company’s shares, it adds.

Assuming the bonus issue application to the SGX-ST is made on Sept 8, the lowest daily weighted average price of the shares in the preceding month would be 62.68 cents and the theoretical ex-bonus price is 52.23 cents accordingly.

APAC Realty says that this 1-for-5 bonus issue also follows a recent strong set of 1HFY2025 results, where the group’s revenue rose 28.8% y-o-y to $341.5 million, driven by robust brokerage income from new home sales, while earnings doubled to $11.3 million from higher transaction volumes in the residential market.

APAC Realty has a dividend payout ratio of 78.7%, and declared more than $124.6 million in dividends over the past eight years. On an annualised basis, the dividend yield for 1HFY2025 stood at 11.5%.

Shares in APAC Realty closed 2.5 cents higher or 3.289% up at 78.5 cents on Sept 8.

 

[addict951]

At ATH today .94!
Thurs open bonus split price riao!