First Sponsor Group

PhillipCapital downgrades First Sponsor Group to 'accumulate' as positives already priced-in - THE EDGE SINGAPORE

Broker's Calls

PhillipCapital downgrades First Sponsor Group to 'accumulate' as positives already priced-in

PhillipCapital analyst Tan Jie Hui has downgraded property developer First Sponsor Group (FSG) to “accumulate” from “buy”, as its recent share run-up has “priced in some positives”.

Low occupancy at European hotels could hit First Sponsor's revenue: Phillip Securities - THE EDGE SINGAPORE

Broker's Calls

Low occupancy at European hotels could hit First Sponsor's revenue: Phillip Securities

While Phillip Securities continues to favour First Sponsor Group, the brokerage believes the property company’s low occupancy rate at its European hotel could impact its top line.

Results

First Sponsor posts 49.4% increase in 1H earnings to $58.1 mil on foreign exchange gains, lower expenses

First Sponsor Group announced that its 1H20 earnings have increased by 49.4% to $58.1 million from $38.9 million in 1H19, mainly due to lower expenses and foreign exchange gains.

Results

First Sponsor reports 24.7% higher 2Q earnings of $15.1 mil on higher sales

SINGAPORE (July 25): First Sponsor Group, the property developer in the Netherlands and China, reported 2Q19 earnings of $15.1 million, 24.7% higher than the $12.1 million reported in 2Q18.

Family business

Consistent performers amongst SGX's family empire-linked plays

SINGAPORE (June 11): SGX lists at least 24 companies and two trusts associated with seven business empires run by some of Singapore’s richest families.

Results

First Sponsor posts 39% increase in 1Q earnings to $23.8 mil; to launch rights issue of perps

SINGAPORE (Apr 25): First Sponsor Group announced that its 1Q19 earnings increased 39% to $23.8 million, compared to $17.1 million in 1Q18.

Equity raising

First Sponsor plans rights and bonus issues to raise up to $399 mil

SINGAPORE (Mar 25): First Sponsor Group is undertaking a rights issue of securities with detachable warrants as well as a bonus issue to raise up to $399.3 million for expansion.

Results

First Sponsor reports 16.1% higher 3Q earnings of $25.6 mil as cost of sales falls faster

SINGAPORE (Oct 26): First Sponsor Group, the developer of residential and commercial properties, reported 3Q18 earnings of $25.6 million, 16.1% higher than a year ago despite lower revenue as cost

Broker's Calls

First Sponsor to benefit from post-Brexit relocation to the Netherlands

SINGAPORE (July 31): DBS is maintaining its “buy” call on First Sponsor Group with a target price of $1.62.

Results

First Sponsor reports 29% rise in 2Q18 earnings to $12.1 mil despite lower revenue recognition

SINGAPORE (July 27): First Sponsor Group, the mixed property developer in the Netherlands and China, reported 2Q18 earnings of $12.1 million.

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