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Saturday, 27 December 2014

Stock changes 26 Dec

Latest stock holdings :- 

Movements since previous updates :-

Divested 19 lots (Cash 5 lots, CPF 9 lots, SRS 5 lots) for nett realized profit $360. Proceeds have been used for re-investment into other stocks.  For its Qtr 2 results, revenue - 2.2%, profit -6.5%.  Strong and healthy Balance Sheet.  Lower revenue and profit from Food Solutions due to lower contributions from its Japan subsidiary (TFK), loss of contributions from its Australian subsidiary which was divested in July 2014 (Urangan) and weakening of the Japanese Yen.  For its Gateway Services higher revenue driven by the growth in cargo tonnage in Singapore but profit suffered due to overall reduction in cargo volumes and price pressure. In the immediate future, its operating landscape remains challenging given the ongoing pressures on regional aviation and rising manpower costs.  Airlines will continue to rationalize capacity to match the slowing demand. The negative pressures arising from overcapacity of airline caterers at Narita Airport will continue to put a strain on TFK's profitability as competition continues to intensify. It will continue to invest into state-of-the-art facilities, comprehensive suite of services and new technologies to improve economies of scale and enhance connectivity for its customers.  It stays focused on growing new businesses and customer segments.  SATS Coolport which is wholly owned by SATS is now  the world's first centre of excellence for independent validators in pharmaceutical handling; after 75 of its employees received IATA Pharmaceutical Handling Diploma as announced on 21 Nov.  With this certification from IATA, SATS Coolport can now train, advise and support industry stakeholders in pharmaceutical handling, to meet the rigorous requirements of the pharmaceutical industry.

Keppel Corporation
Invested into it for 4 lots under both CPF stock holdings utilizing the proceeds from SATS Ltd divestment.   For its Qtr 3 results, Revenue +8.1% driven by higher revenue in Offshore & Marine and Keppel Telecommunications & Transportation’s logistics business; but offset by lower revenue in Keppel Infrastructure’s power generation plant and Property which was due to decline in Singapore and China sales.  Profit -1.1% mainly due to lower profits in Property because of lower sales in China and Singapore and absence of gain from deconsolidation of Keppel REIT; which offset higher operating results and interest income in Offshore & Marine and higher earnings from Keppel Telecommunications & Transportation.  It successfully launched Keppel Data Centre Reit IPO via Keppel T&T recently.  And it was involved in the merger of Keppel Infrastructure Trust and CitySpring; which will acquire its 51% stake in Keppel Merlimau Cogen.

SIA Engineering
Reduced it by 1 lot under Cash stock holdings for a small $20 net realized profit in order to re-use its proceeds for re-investment into other stocks.   For its Qtr 2 results, Revenue -3.0% due to lower airframe and component overhaul revenue, which was offset slightly by increased revenue from fleet management. Strong and healthy Balance Sheet.  Profit -40.7% due to higher subcontract costs, lower share of profits from associated and joint venture companies, lower contributions from the engine repair and overhaul centers.  It has 25 joint ventures, spread over nine countries worldwide.  Near-term, decline are expected in engine shop visits and heavy checks; pressure on margins due to rising business costs and intense competition.  It may be going through the cyclical period where customers are deferring aircraft checks.  Older engine models are being retired on an accelerated basis and newer models require less engine shop visits, thus lowering utilisation rates and profitability.  It is stepping up efforts to improve productivity to stay competitive in this overall challenging environment.  It stays the course in its pursuit of value-added collaborations with strategic partners. It has entered into a proposed JV with Boeing to provide fleet management services to Boeing customers in South Asia Pacific region.

Starhub Ltd
Added 2 lots of it under Cash stock holdings; so there are now a combined stock holdings of 14 lots in it (Cash 2 lots + SRS 12 lots).  For its Qtr 3 results, revenue +2.3%, profit +2.6%.  Higher revenue mainly driven by higher sales of equipment.  Higher profits contributed by higher revenue and other income, offset by higher operating expenses.  It will maintain annual cash dividend payout of 20 cents per ordinary share for 2014.

Divested away 1 lot under Cash stock holdings for minimal $9 net realized profit in order to re-use its proceeds for re-investment into other stocks.  In its 2014 results, revenue -2.0%, profit +8.4%.  Lower revenue due to lower advertisement and circulation revenue; which offset better revenue for the Property segment because of higher rental income from the retail assets of SPH REIT, Paragon and The Clementi Mall.  Its other businesses revenue was higher driven by contributions from exhibitions, online classified and the radio business.  Higher profits mainly from gain on partial divestment of stake in the regional online classified business.   Newsprint prices are expected to soften in the near-term, taking into account demand and supply considerations.  The retail assets of SPH REIT, Paragon and The Clementi Mall, are fully leased and will continue to turn in a steady performance. The Seletar Mall already opened for business now. It will intensify its efforts to reinvigorate the core media business whilst pursuing opportunities for sustainable growth and value creation.

Bund Center Investment
Invested 25 lots in it under Cash stock holdings but later reduced it by 10 lots for $65 net realized profit.  For its Qtr 3 results, revenue +4.2%, profit +0.1%.  Better revenue due to higher leasing income from the Bund Center office tower and improved average occupancy rate in hotel segment. Higher leasing income driven by improvement in average leasing rate in office tower segment, as well as higher average rent rate.  Better hotel revenue due to higher average occupancy and average room rate which is higher than the average occupancy rate and average room rate achieved by five-star hotels in Shanghai.  Flat profit due to net foreign exchange loss in current quarter comparing to net foreign exchange gain in previous year.

HUPSteel Limited
Divested away 25 lots of it under Cash stock holdings for $224 net realized profit.   On its Qtr 1 results, revenue -33%, profit +4%.  Lower revenue due to weak demand for steel plates mainly from its shipyard customers.  Higher profit mainly from the better gross profit margin achieved and lower expenses.  Lower free cash flow due to capex spending of $2.7 mil.  It will go XD next Tuesday 30 Dec.

Lum Chang Holdings
Invested into it for 5 lots under Cash stock holdings.   On its Qtr 1 results, revenue -49%, profit -89% due to lower revenue recognised for 3 major construction projects. Current Price/Book value at 0.715.



  1. Money Honey,

    Happy Holidays!

    The "polite way" is to say you practice portfolio rebalancing.

    The "local local way" is you see one prettier girl you dump your existing girlfriend!?

    You Casanova you!


    1. SMOL,
      Happy Holidays to you too.

      Not much money so not much choice but to dump one girlfriend for another one. But l will redeem her back once l have saved up enough. I am not that heartless. These girls have their own refined qualities. l cannot also not reject other girls when there is one bad moment in their growing up years.

      Take it away Cliff Richard ... Daddy's Home.



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