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[STOCK] CAPITAMALL TRUST
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18-2-2014 9:41 AM
hansamu Offline
Senior Sheep

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CapitaMalls Asia (BUY; S$2.52)
CMA reported operating net profit of S$61 million in 4Q13 (-6 per cent qoq, +55 per cent yoy) and S$246 million in 2013, in line at 97 per cent of GSe FY13. Revaluations, a key earnings driver, were S$329 million in 2013, 17 per cent above GSe of S$280 million; 2H13 revaluations of S$150 million were driven by NPI growth, no compression in cap rate. Highlights: China tenant sales healthy, +10.1 per cent yoy in 2013 vs. +9.8 per cent yoy in 2012; with same-mall NPI +13.1 per cent yoy in 2013 (was +12.0 per cent yoy in 9M13). Singapore’s tenant sales improved +3.2 per cent yoy in 2013 vs. +2.0 per cent yoy in 2012; same-mall NPI +4.5 per cent yoy in 2013 vs. +2.7 per cent yoy in 2012. Planned opening of 4 malls in 2014; 2 in China and 2 in India – total pipeline of 20 malls. Proposed dividend of 3.5cents for 2013, +7.7 per cent yoy. Management struck a positive tone on current operations and expansion plans in key markets of China and Singapore. In China, CMA’s tenant sales growth of 10.1 per cent yoy in 2013 despite shopper traffic of +2.2 per cent yoy suggests its malls are capturing more “meaningful” traffic, reflective of CMA’s operational strength and leadership; YTD14 retail sales momentum strong. In Singapore, recent mall openings are slightly ahead of expectations; Bedok Mall delivering initial yields above guidance of 6 per cent and Westgate about 5 per cent-6 per cent (despite competition from JEM). Despite its steady delivery, CMA trades at a 41 per cent discount to NAV (-1SD), implying that the market is not pricing in its steady mall build-out with 20 announced malls in the pipeline, growing operational NLA by 52 per cent from 2013-2017E. Maintain CL-Buy and 12-m NAV-based TP of S$2.52; introduce 2016 EPS of S$0.17. Risks: Ecommerce and retail supply challenge. – Goldman Sachs Research
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16-7-2015 11:30 AM
tester Offline
dummy

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http://www.channelnewsasia.com/mobile/singapore/funan-digitalife-mall/1987948.html?cid=FBSG

Funan center could be sold?
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16-7-2015 11:41 AM
Brilliant Offline
Elite

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Yellen says interest rise will be in 2015 if nothing goes wrong with US economy.
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16-7-2015 11:55 AM
tester Offline
dummy

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16-7-2015 11:41 AMBrilliant wroteYellen says interest rise will be in 2015 if nothing goes wrong with US economy.

Yes, interest rate will surely rise this year
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22-7-2015 8:56 PM
reiko Offline
Hall of Fame

Posts: 48,054
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TODAY ‏@TODAYonline 43m43 minutes ago
CapitaLand Mall Trust revamps portfolio with major initiatives underway at its key properties http://tdy.sg/1Mk3lmo
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22-7-2015 10:22 PM
reiko Offline
Hall of Fame

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Channel NewsAsia ‏@ChannelNewsAsia 4m4 minutes ago
JCube, Plaza Singapura to undergo revamp amid challenging retail scene http://bit.ly/1egqok0
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23-1-2016 7:16 PM
tester Offline
dummy

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http://www.straitstimes.com/business/companies-markets/capitaland-mall-trust-posts-07-rise-in-dpu-for-4th-quarter

Distributable income for the quarter grew 2.8 per cent to $101.9 million. Net property income jumped 18.6 per cent to $125.7 million, while gross revenue increased 9.2 per cent to $180.4 mi

Numbers look good but without funan center and lending rate increases, can they maintain their numbers going forward?
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