*Official* MasterLeong Thread - Part 2

[jmapsmylife]

ML may I know ur tp for fct. FCT like too bull sia.

 

[Growmymoney]

HMI can beo. looks good.

 

[MasterLeong]

ML may I know ur tp for fct. FCT like too bull sia.

same as CMT, my FCT TP is around 2.20

2.20 I will sell some but not all

maybe from 15,000 reduce to 10,000

if 2.10 I may consider doing so, 2.20 is confirm do so

 

[caltex88]

i sold 5,000 yesterday at 1.515, now left 15,000

if got 1.42 will board again

Ok, jio again

 

[jmapsmylife]

I think i hold long long better since my holding small nia huat all the way till northpoint open can?

same as CMT, my FCT TP is around 2.20

2.20 I will sell some but not all

maybe from 15,000 reduce to 10,000

if 2.10 I may consider doing so, 2.20 is confirm do so

 

[MasterLeong]

I think i hold long long better since my holding small nia huat all the way till northpoint open can?

reits hold long term ok de ba

its like being a landlord and collecting rents

on average if say u hold 5 tiger generals u get 6% dividends per year wwjbh

if capital gains run up super fast... say the reit up 12% within 6 months, then u sell off to lock in 2 years dividends within 6 months

take the money to invest in other counters lor

 

[Dividends Warrior]

I think i hold long long better since my holding small nia huat all the way till northpoint open can?

DPU should increase after the AEI is completed and the full rental contributions come in from the new leases in 2018. If your position is less than $8k, I would suggest holding until 2018 at least.

 

[Retireready]

Gonna store some warchest for FCT next ex date

 

[Dividends Warrior]

Gonna store some warchest for FCT next ex date

You should store warchest for a possible rate hike in March.

 

[jmapsmylife]

Gonna store some warchest for FCT next ex date

yes wait for hike to enter provided it do drop. the last xd didnt affect the price much.

 

[jmapsmylife]

ML $30 restock le. wasted i go redeem $15 liao.

 

[Dividends Warrior]

yes wait for hike to enter provided it do drop. the last xd didnt affect the price much.

Many solid REITs have pretty much returned to their pre-XD prices. FCT, PLife, SPH REIT etc. Hoping a rate hike and a messy Brexit will provide opportunities.

 

[Retireready]

Sounds like a plan too. Store ar store ar store

You should store warchest for a possible rate hike in March.

 

[Retireready]

Huat Huat huat huat huat

yes wait for hike to enter provided it do drop. the last xd didnt affect the price much.

 

[dolph001]

Assessing the impact of ezra grp

Ezra or its associated companies could face liquidation
● * Ezra has called for a trading halt on 1 Feb pending the release of an announcement. We believe this is related to the results of its discussions with lenders and other stakeholders regarding its financial position, which could result in the group, its JV or subsidiaries’ liquidation in the worst case scenario.
● * As of 31 Aug 2016, the group had US$989m of term loans and bills payable to banks, including US$568m from 75.46%-owned EMAS Offshore Limited and US$150m from 60.9%-owned Triyards Holdings Limited.

Impairment at EMAS Chiyoda Subsea
● * Ezra’s JV partners in its subsea business, EMAS Chiyoda Subsea Limited, recently wrote down their stakes in the JV. Chiyoda Corp took a ¥38bn impairment charge for its 35% stake, while NYK Line took a ¥13bn impairment on its 25% stake.
● * After netting off their share of goodwill, we estimate that the two JV partners wrote down 25-74% of fixed asset value. With estimated bank debt of US$579m, its fixed assets can be written down by 43% before recoverability comes into question.

Quantifying lending exposures to the Ezra group
● * As the banks do not disclose their lending exposures to individual clients, we adopt an arbitrary approach and assume each company’s debt is equally split among its principal bankers as listed in its annual report.
● * Based on this assumption, we estimate that DBS has the largest exposure to the Ezra group of companies at S$637m, followed by OCBC at S$300m and UOB at S$166m. DBS’s larger exposure is mainly due to its lending to EMAS Chiyoda Subsea, given that it was the co-lead arranger for the loan facility for EMAS Chiyoda’s main vessel, the Lewek Constellation.

DBS would be hardest hit in event of liquidation
● * Should the entire Ezra group go into liquidation, the banks will have to recognise their exposures as NPLs and make adequate provisions for the unrecoverable amounts.
● * Based on 40-80% write-down in book value of fixed assets across the group, we estimate DBS will have to make specific provisions (SPs) of 8-16bp, OCBC: 9-12bp and UOB: 6-7bp. This assumes no SPs have been taken yet, and will impact DBS’s FY17F net profit by 6-12%, OCBC: 5-8%, and UOB: 4-5%.

Maintain sector Underweight
● * We remain Underweight on the Singapore banks, as asset quality concerns still loom. Despite higher oil prices and the introduction of new working capital loans by SPRING Singapore, the banks’ exposure to oil & gas firms still remain under stress as E&P spending has yet to return. We are also watchful of the banks’ exposure to the SME sector and trading firms that could be hurt by the stronger US dollar.
● * We are less optimistic than consensus on the banks’ NIM outlook in 2017, as weak loan demand could put pressure on customer loan yields. Recent US$ weakness also supports our more bearish expectation of SIBOR/SOR. OCBC remains our top sell. Risks to our call include higher interest rates and stronger GDP growth.
* *

Sent from Samsung SM-N910G using GAGT

Target price: $0.001

 

[limjq44]

cdg down to 2.38

Anyway filled some cdg a

 

[Dividends Warrior]

I have started using InvestingNote. Looks handy for social sharing on investments. The interface is a little too 'clutter' for my liking though.

 

[Maeda_Toshiie]

Sounds like a plan too. Store ar store ar store

Always have some warchest lying in some higher yielding savings account.

 

[dolph001]

7 and 9 got relation?

no relation.

 

[thenakedshades]

@thenakedshares mistakes fresh grad make normally after they grad, they wanna find the perfect job and they will take about 1-2years to find that. Unless you are born filthy rich, go out there and grab any job relevant to your degree if u want and accumulate some savings first while you explore what u really want

Thank you, I used to think of chasing after the perfect job. But then again, I realised I'm just a nobody with zero experience. How to fight against the best? So there and again, I will go for any job now to gain money and experience. But then again, even entry level jobs, difficult to get in too. Unless going for insurance or sales line which i know it's not my strong suit, so I never consider going in