valuation

Ascott Raffles Place divestment in line with market & legal practices, maintains REIT manager

SINGAPORE (Jan 22): The manager of Ascott Residence Trust (Ascott REIT) has filed a clarification letter to the Singapore Exchange (SGX) in response to a letter published in the forum of The Straits Times on Monday, which questioned the gap between the valuation and buyout amount of Ascott Raffles Place.

Will Serial System's HK spinoff give it the valuation it seeks?

SINGAPORE (June 22): Electronic parts distributor Serial System is set to spin off its Hong Kong subsidiary, Serial Microelectronics (HK), in a listing on the Stock Exchange of Hong Kong. 

The listing, which was approved at an extraordinary general meeting on April 6, will cut Serial System’s stake from 91% to 68.25%. 

Serial System estimates that the subsidiary, which distributes electronic parts within Greater China, will have a minimum market value of US$220 million ($299 million) upon listing.

China Sunsine — Price up 20.8% since we bought two weeks ago and we bought more

SINGAPORE (Feb 5): China Sunsine Chemical Holdings has been one of our portfolio’s top-performing stocks, gaining 20.8% since we bought it just two weeks ago, thanks in part to a growing number of brokers who have since started covering the company.

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Xiaomi seeks valuation of at least US$50 bil in IPO

HONG KONG (Dec 5): Xiaomi Corp., the Chinese smartphone maker that was once the most valuable startup in the world, is in talks with investment banks about a possible initial public offering and seeking a valuation of at least US$50 billion ($67.4 billion), according to people familiar with the matter.

Sabana REIT dismisses relevance of unitholder’s claim, will convene EGM ‘as soon as practicable’

SINGAPORE (Feb 20): The manager of Sabana Shari’ah Compliant Industrial REIT (Sabana REIT) is disputing the claims of Jerry Low Chin Yee, a unitholder who, among other accusations, is challenging the objectivity and independence of valuation reports conducted on behalf of the manager.   

To recap, Low on Tuesday was reported to lodge a complaint against the property valuation houses of Colliers, Savills and Knight Frank on valuation reports done to support the REIT’s acquisition of 47 Changi South Ave 2 from its sponsor, Vibrant Group.

Starhill Global’s FY17 distributions to be impacted negatively

SINGAPORE (Feb 2): CIMB Research is reiterating its “hold” call on Starhill Global REIT while lowering its target price to 72 cents from 76 cents after the release of the REIT’s 2Q17 results, on expectations of ongoing redevelopment at Plaza Arcade in Perth as well as tenant transition at Renhe Spring Zongbei (RSZ) in China to affect FY17 distributions negatively.

In a Wednesday report, analysts Lock Mun Yee and Yeo Zhi Bin also reduce their estimates for the stock’s FY17 distribution per unit (DPU) to buffer against above effects and higher financing costs.

Google steals Apple’s No. 1 spot as world’s most valuable brand

SINGAPORE (Feb 2): Apple Inc. is no longer the most valuable brand in the world, according to the latest edition of the Brand Finance Global 500 report.

Based on the valuation and strategy consultancy’s annual study on the world’s biggest brand names, Apple’s value has declined 27% from US$149 billion ($210.4 million) to US$107.1 billion over the past year – ending a consecutive five-year period at the top of Brand Finance’s list of most valuable brands.

10 stock picks to guide you through a lacklustre 1H17

SINGAPORE (Nov 28): With the Singapore market being dragged down this year by events such as Brexit and the US presidential elections, OCBC Investment Research expects the lacklustre sentiment to continue at least into 1H17 as corporate earnings and economic outlook remain subdued.

A full-blown recession is unlikely for Singapore’s economy, says OCBC analyst Carmen Lee in a Monday report. This is because while the research house thinks overall earnings growth is likely to be in the single-digit range in 2017, it will still fare better than the estimate flat growth for 2016.

Swiber subsidiary to sell vessel for US$10.25 mil to repay DBS

SINGAPORE (Nov 22): Swiber Atlantis, a wholly-owned subsidiary of Swiber Holdings, has signed a memorandum of agreement (MOA) for the sale of its vessel known as Sea Horizon to WAG SPV I, LLC for US$10.25 million ($14.6 million).

Completion of the sale is scheduled to take place on Nov 22, in cash.

The proceeds will be used to pay what Swiber owes under DBS Facilities as the vessel is currently mortgaged to DBS, says the beleaguered group in a Monday statement.

Six predictors of a potential M&A target

SINGAPORE (Sept 23): Predicting an M&A often rely on inside knowledge or leaks from within, however, factors such as leverage, size of company as well as profitability has been identified as significant in predicting an M&A, according to an Intralinks study.

The enterprise content management provider analysed a global dataset of public and private companies with the minimum annual revenue of US$50 million ($67.9 million) in the period of 1992 to 2014.

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