https://www.businesstimes.com.sg/companies-markets/aem-q1-net-profit-falls-631-to-s1334-million-after-record-year-ago-period
With AEM reporting 1Q net profit falling by 63.1%, some shareholders will be in a hurry to sell tomorrow. If you have been eyeing AEM for a while, maybe it may be chance to pick up some shares.
With AEM reporting 1Q net profit falling by 63.1%, some shareholders will be in a hurry to sell tomorrow. If you have been eyeing AEM for a while, maybe it may be chance to pick up some shares.
The Business Times
AEM Q1 net profit falls 63.1% to S$13.34 million after record year-ago period
MAINBOARD-LISTED AEM Holdings' first-quarter earnings plunged year on year, which the group attributed to a high revenue base in a business update on Monday. Read more at The Business Times.
https://www.businesstimes.com.sg/companies-markets/aem-q1-net-profit-falls-631-to-s1334-million-after-record-year-ago-period
With AEM net profit falling by 63.1%, some shareholders will be in a hurry to sell tomorrow. If you have been eyeing AEM for a while, maybe it may be chance to pick up some shares.
With AEM net profit falling by 63.1%, some shareholders will be in a hurry to sell tomorrow. If you have been eyeing AEM for a while, maybe it may be chance to pick up some shares.
The Business Times
AEM Q1 net profit falls 63.1% to S$13.34 million after record year-ago period
MAINBOARD-LISTED AEM Holdings' first-quarter earnings plunged year on year, which the group attributed to a high revenue base in a business update on Monday. Read more at The Business Times.
This is a total surprise. One of the worst outcome for SPH as a business? I am not too sure how you account to shareholders that you are turning a division into a non-profit. The share price will go lower but at sufficient low prices, SPH may be a buy again.
The common thread among all of Temasek linked company is *Drumroll*
- Financial Engineering to hopefully achieve a higher PE on the public market.
For SembCorp, it is spinoff of their marine division.
For CapitaLand, it is a privatisation of the property development and re-listing of the asset manager,
SPH is spinning/subsidising to get the media assets off its balance sheet,
Olam is also looking for at splitting itself up to get the parts to be valued differently,
Singtel? It is definitely worth more separately than together. With a need to finance 5G in SG, divestment may be on the cards? Or maybe split into 3 companies, Singtel, Optus and Investment? Or maybe Temasek will surprise us again with some new ways to generate "value".
- Financial Engineering to hopefully achieve a higher PE on the public market.
For SembCorp, it is spinoff of their marine division.
For CapitaLand, it is a privatisation of the property development and re-listing of the asset manager,
SPH is spinning/subsidising to get the media assets off its balance sheet,
Olam is also looking for at splitting itself up to get the parts to be valued differently,
Singtel? It is definitely worth more separately than together. With a need to finance 5G in SG, divestment may be on the cards? Or maybe split into 3 companies, Singtel, Optus and Investment? Or maybe Temasek will surprise us again with some new ways to generate "value".
https://www.channelnewsasia.com/news/business/singtel-1-21-billion-charge-amobee-trustwave-strategic-review-14806680
Singtel CEO is going to kitchen-sink everything in the current financial year and will be having all the good news next financial year.
With Temasek on his heels, strategic options will happen in a fast and furry manner.
Investors should also be looking and valuing for that eventuality.
Singtel CEO is going to kitchen-sink everything in the current financial year and will be having all the good news next financial year.
With Temasek on his heels, strategic options will happen in a fast and furry manner.
Investors should also be looking and valuing for that eventuality.
CNA
Singtel expects S$1.21 billion charge for FY2021, starts strategic review of 2 US units
SINGAPORE: Singtel said on Friday (May 14) it had begun a strategic review to consider options for digital marketing firm Amobee and cybersecurity business Trustwave.Singtel said it expected to record net exceptional losses of S$1.21 billion in its full-year…
The recent restructuring of various Singapore GLC reminds me of the CEO and the three envelope joke.
A new CEO was hired to take over a struggling company. The CEO who was stepping down met with him privately and presented him with three numbered envelopes. “Open these if you run into serious trouble,” he said.
Well, three months later sales and profits were still way down and the new CEO was catching a lot of heat. He began to panic but then he remembered the envelopes. He went to his drawer and took out the first envelope. The message read, “Blame your predecessor.” The new CEO called a press conference and explained that the previous CEO had left him with a real mess and it was taking a bit longer to clean it up than expected, but everything was on the right track. Satisfied with his comments, the press – and Wall Street – responded positively.
Another quarter went by and the company continued to struggle. Having learned from his previous experience, the CEO quickly opened the second envelope. The message read, “Reorganize.” So he fired key people, consolidated divisions and cut costs everywhere he could. This he did and Wall Street, and the press, applauded his efforts.
Three months passed and the company was still short on sales and profits. The CEO would have to figure out how to get through another tough earnings call. The CEO went to his office, closed the door and opened the third envelope. The message said, “Prepare three envelopes.”
– Kevin Kruse
A new CEO was hired to take over a struggling company. The CEO who was stepping down met with him privately and presented him with three numbered envelopes. “Open these if you run into serious trouble,” he said.
Well, three months later sales and profits were still way down and the new CEO was catching a lot of heat. He began to panic but then he remembered the envelopes. He went to his drawer and took out the first envelope. The message read, “Blame your predecessor.” The new CEO called a press conference and explained that the previous CEO had left him with a real mess and it was taking a bit longer to clean it up than expected, but everything was on the right track. Satisfied with his comments, the press – and Wall Street – responded positively.
Another quarter went by and the company continued to struggle. Having learned from his previous experience, the CEO quickly opened the second envelope. The message read, “Reorganize.” So he fired key people, consolidated divisions and cut costs everywhere he could. This he did and Wall Street, and the press, applauded his efforts.
Three months passed and the company was still short on sales and profits. The CEO would have to figure out how to get through another tough earnings call. The CEO went to his office, closed the door and opened the third envelope. The message said, “Prepare three envelopes.”
– Kevin Kruse
https://www.scmp.com/tech/policy/article/3135951/china-tech-policy-shenzhens-new-data-law-another-signal-intent-rein-big
Now the tech giant in Shenzhen can forget about owning their customers data with more stringent law coming in. The law will get tougher and that will also mean that the bigger tech will more entrenched in the older segment of the digital economy?
For the startups, they will just have to play a different game. Overall it is a net positive for them. The whole startup ecosystem in China may just open up for more innovation.
Now the tech giant in Shenzhen can forget about owning their customers data with more stringent law coming in. The law will get tougher and that will also mean that the bigger tech will more entrenched in the older segment of the digital economy?
For the startups, they will just have to play a different game. Overall it is a net positive for them. The whole startup ecosystem in China may just open up for more innovation.
South China Morning Post
Big Tech in Shenzhen’s sights as new data law proposes stringent restrictions
The draft makes it clear that a person has the right to say no to data collection requests and has the right to know, copy, correct and delete personal data held online.
https://www.weightedresearch.com/p/2021-quicktake-1-gentrack
A quick take on a SAAS business that we really like on the ASX and the NZX. Hope you enjoy the read.
*not vested*
A quick take on a SAAS business that we really like on the ASX and the NZX. Hope you enjoy the read.
*not vested*
Weightedresearch
2021 Quicktake #1: Gentrack
Software provider to utilities and airport
https://www.straitstimes.com/business/companies-markets/capitaland-to-divest-partial-stakes-in-six-raffles-city-properties-in
This could only be good for their asset management arm. Lesser assets on balance sheet equate to a higher ROE.
Looking forward to the listing of CaptaLand Investment Management.
This could only be good for their asset management arm. Lesser assets on balance sheet equate to a higher ROE.
Looking forward to the listing of CaptaLand Investment Management.
The Straits Times
CapitaLand to divest partial stakes in six Raffles City properties in China for $9.6 billion
CapitaLand expects to gain net proceeds of more than $2 billion from the transaction.
Read more at straitstimes.com.
Read more at straitstimes.com.
https://www.businesstimes.com.sg/companies-markets/capitaland-sells-2-malls-for-42b-yen-to-invest-75b-yen-in-2nd-japan-logistics
CapitaLand has been on a roll. Continued divestment of their assets to recycling into new areas. Generally impressed with how fast they are moving in this uncertain time. This does not affect the CLIM transaction but we have to give lots of credit to the management capability to execute.
CapitaLand has been on a roll. Continued divestment of their assets to recycling into new areas. Generally impressed with how fast they are moving in this uncertain time. This does not affect the CLIM transaction but we have to give lots of credit to the management capability to execute.
The Business Times
CapitaLand sells 2 malls for 42b yen; to invest 7.5b yen in 2nd Japan logistics asset
CAPITALAND has sold two of its retail malls in the Greater Tokyo area, Olinas Mall and Seiyu & Sundrug Higashimatsuyama, for over 42 billion yen (S$520 million). At the same time, the property giant
https://www.afr.com/companies/telecommunications/yin-and-yang-for-optus-after-telstra-s-2-8b-tower-sale-20210701-p585tm
At the same time, Singtel or Optus has been horrendous. They started the process of divestment much earlier and they allowed Telstra to steal a march on them! Someone head gotta roll.
With one last competitor, the price may just get even lower. Being in a mature market also meant that valuation could only stretch so far...
At the same time, Singtel or Optus has been horrendous. They started the process of divestment much earlier and they allowed Telstra to steal a march on them! Someone head gotta roll.
With one last competitor, the price may just get even lower. Being in a mature market also meant that valuation could only stretch so far...
Australian Financial Review
‘Yin and yang’ for Optus after Telstra’s $2.8b tower sale
Morningstar analyst Brian Han says there are “yin and yang” elements at play for Optus after Telstra InfraCo Towers sale.
https://www.weightedresearch.com/p/20220714-eurosports-announces-strategic
Finally, manage to sort out my workload to continue to write.
Some thoughts on EuroSports strategic review which looks like it is 1 year too late.
Finally, manage to sort out my workload to continue to write.
Some thoughts on EuroSports strategic review which looks like it is 1 year too late.
Weightedresearch
EuroSports announces strategic review
From here to where?
https://www.weightedresearch.com/p/anz-taking-over-suncorp-bank
The biggest M&A news in Australia and my guess is that all these will not go down well for ANZ.
The biggest M&A news in Australia and my guess is that all these will not go down well for ANZ.
Weightedresearch
ANZ taking over Suncorp Bank
When you just want to acquire something...
https://www.weightedresearch.com/p/qafs-profit-guidance
Some thoughts on the QAF profit guidance. A dominant business in an increasingly tough environment.
Some thoughts on the QAF profit guidance. A dominant business in an increasingly tough environment.
Weightedresearch
QAF's profit guidance
When insurance become new income
https://www.weightedresearch.com/p/bat-malaysia
Will BAT Malaysia start to maintain market share? Or will the Malaysian government starts to crack down on smuggling? Or would they be increasing excise instead?
Will BAT Malaysia start to maintain market share? Or will the Malaysian government starts to crack down on smuggling? Or would they be increasing excise instead?
Weightedresearch
British American Tobacco Malaysia hitting equilibrium point?
Will vaping be legalised?
https://www.weightedresearch.com/p/ifast-tripping-on-the-fast-lane
iFAST has an impairment on their Indian ops, but they continue to guide for higher revenue for FY2023. Will the market value them the way they wanted?
iFAST has an impairment on their Indian ops, but they continue to guide for higher revenue for FY2023. Will the market value them the way they wanted?
Weightedresearch
iFast tripping on the fast lane...
From a bank application, a placement, a banking acquisition and the shuttering of their India's operation
Netdragon 0777.HK has finally got on to spinoff their education arm through Gravitas Inc. Other than the awful PR stunt of appointing an AI as a CEO, the management has executed according to their communicated plans.
Their plan includes divesting most of their education division and then doing a dividend in specie.
Based on 61.3% of the company on USD 750m meant that current shareholders will be "getting" around HKD 3,587m back if the valuation holds in the public market
0777.HK is currently valued at HKD 8,230m. Netting off the spinoff amount of HKD 3,587m, the gaming business should technically be worth around HKD4,643m.
Recent reported result, gaming should minimally be able to gross at least HKD 1,300m, making it a 3.5x PE?
The only downside is that I cannot make sense of is their reported numbers on its education segment. The losses within their education segment should continue to decrease in FY2023 and Netdragon can be seen and valued as a pure play, high margin gaming company.
Their plan includes divesting most of their education division and then doing a dividend in specie.
Based on 61.3% of the company on USD 750m meant that current shareholders will be "getting" around HKD 3,587m back if the valuation holds in the public market
0777.HK is currently valued at HKD 8,230m. Netting off the spinoff amount of HKD 3,587m, the gaming business should technically be worth around HKD4,643m.
Recent reported result, gaming should minimally be able to gross at least HKD 1,300m, making it a 3.5x PE?
The only downside is that I cannot make sense of is their reported numbers on its education segment. The losses within their education segment should continue to decrease in FY2023 and Netdragon can be seen and valued as a pure play, high margin gaming company.