SG STOCKS PICK

Search This Blog

JB Food Exited

January 26, 2013

Get link
Facebook
Twitter
Pinterest
Email
Other Apps

JB Food has hit a high of $0.45 on Friday.
I have exited JB Food.

JB Foods

Get link
Facebook
Twitter
Pinterest
Email
Other Apps

Comments

PRIME US REIT: Is this an opportunity?

At this point of writing, PRIME is trading at US$0.30. Its yield is now almost 20%, at US$0.06 ( base on FY2022). Trading a 0.44x book value, NTA is US$0.75. Let take a look at a few metrices. 1) Weighted Average Lease Expiry (WALE) is 4.1 years, which provides sufficient time to cushion any volatility in the stock market. 2) Weighted Average Debt Maturity is 2 years. This may raise some concerns here. Out of the US$449 million debt maturity in 2024, US$160 million can be extended to July 2026 ( 2 years extension ), bringing Weighted Average Debt Maturity to 2.7 years. Personally, I am not sure if this provide sufficient buffer time for PRIME to obtain new loan facilities. 3) Average leverage is 42%. This figure is still below the requirements of 50%. Summary: All investments come with RISK, some is higher while some is lower. At a yield of close to 20%, and trading at 0.44x book value, i think the risk is justified.

Singapore Kitchen Equipment Ltd: Brewing a nice dish for shareholders !

Singapore Kitchen(SKE) was listed on SGX in 2013 at a price of 20cts. It has hit a high of 25cts on 19th June 2014, a low of 7.3cts in early 2016. Investment Merits: 1) Company has only $0.4 million of long term debt vs a net cash position. 2) 2 main segment of business: 1) Distribution & Fabrication of kitchen equipment 2) Maintenance & Servicing: Abt 75% of revenue is accounted for Distribution & Fabrication of kitchen equipment, with 25% of revenue as recurring income. As years go by, i am sure the recurring revenue will keep increasing. 3) With robotic machinery, the product can automated and increase efficiency in kitchens. This may be a stepping stone for SKE to widen its client base. 4) Profit has grown from $0.11 million upon listing to $2.57 million in FY2016. Its ROA and ROE is 11.75% and 17% respectively. In the last 4 years of listing, SKE has slowly growing. 5) Decent dividend yield of 4.69% base on last traded price of 16cts. 6) Single digit PE of 9.

Dasin Retail Trust: ARA to be co-manager

Dasin Retail Trust (DRT) is a retail property trust that has seven retail malls located in Zhongshan, Zhuhai, and Foshan, all of which are part of the Guangdong-Hong Kong-Macau Greater Bay Area (GBA). Investment merits: 1) Sponsors has pipeline of assets DRT has a large pipeline of assets consisting of 15 right of first refusal (ROFR) properties located across four cities in the GBA – Foshan, Zhongshan, Zhuhai, and Macau. Six of these properties are currently under development, while the remaining nine properties have been completed. The completed properties have a total gross floor area (GFA) of 683 thousand square metres (sqm), which is almost as large as DRT’s existing portfolio. 2) Huge discount to NAV DRT latest NAV is $1.41 as of 31st Dec 2020. Current trading price is $0.73 or 0.51x Book value. This should be the only reit that is trading at such a huge discount. 3) ARA to be co-manager of Dasin Retail Trust ARA to acquire 50.0% stake in the Trustee Manager of Dasin Retail Trus

Powered by Blogger