$SINGTEL(Z74.SI)$by dbs research1QFY22 numbers are towards the upper end of our expectations• Singtel's 1QF22F underlying net profit of S$451m (+31% y-o-y) was towards the upper end of our estimate of S$430m-S$450m• Sharp recovery in Australia, profit turnaround of Bharti and stabilization of Singapore were key drivers. • Maintain BUY with unchanged TP of S$3.01 for over 28% upside potential and 3.6% yieldSingtel's 1QF22F underlying net profit of S$451m (+31% y-o-y) was towards the upper end of our estimate of S$430m-S$450m and comprised 22% of our full year estimate. What stood out was a big rise in Australia consumer operating profit to S$44m (excluding National Broadband Network migration revenue) compared to S$26m in 4Q21 and operating loss of

$SINGTEL(Z74.SI)$has been on a strong uptrend but formed a shooting star candle with high volume on 12 may 2022. This bearish candle with high volume suggests that big boys could be unloading. Coupled with today's big black candle, it confirms the occurrence of a short term top. Switch to the weekly chart and a shooting star candle stands out.Fellow tigers who have enjoyed the ride may consider taking profit and buy back during a pullback. 

$UNITED OVERSEAS BANK LIMITED(U11.SI)$has pulled back over 10% since hitting a lower high at $32+ in 2nd half of Mar 2022. It has rebounded off the white long term moving averages. On 20 May 2022, the dual William %R indicators (cyan and purple lines) crossed under 80 level, which signify a rebound could be coming. The previous time it crossed under 80 level was on 9 Mar 2022 where it caught the rebound from $29 to $32+. CCI indicator in blue also crossed above -100, signifying a buy. A cross down below 100 signify a sell. In addition,  parabolic SAR also shows the first red dot which signify that a uptrend could be starting. Investors who are bullish on UOB should also note  the 2 green downtrend lines, and the mid term

$SINGTEL(Z74.SI)$After being stuck in a 2 year consolidation range, Singtel has finally broke above the $2.58 resistance zone. It is now supported by the short term uptrend line and  the $2.58 zone, which has now turned support.  There's much news on Singtel lately, the notable ones include:- Acquisition of IT services consulting company Dialog Pty Ltd- Acquisition of Australia Telco Infrastructure provider Axicom for A$3.6bil by Singtel's ATN- Acquisition of Australian digital services company ARQ for A$290mil by Singtel's NCS- Grab-Singtel among favorites to bag Malaysia's first digital banking license- Redevelopment of Comcenter HQ for over $2bilSingtel is forging ahead with its growth path and reopening of air travel means its

$MAPLETREE INDUSTRIAL TRUST(ME8U.SI)$has broken out of a multi month downtrend and started a short term uptrend. Since getting rejected at 2.72 which is also the previous horizontal resistance at 2.72, price has been trending down gradually. The price is expected to be supported by 2.62 horizontal support, which provides a decent yield of 5.1% at about annual 13.4c dividend. Fundamentally,  this quality REIT has a strong sponsor and been growing its dividends year after year. Recently it has also been growing its data center portfolio and could be a good data center play given its higher dividend yield than the other 2 sgx listed data center reits.

$MAPLETREE INDUSTRIAL TRUST(ME8U.SI)$has retraced to the $2.62 support mentioned in my previous post. It reported distribution per unit (DPU) of 3.49 cents for its 4QFY2021 ended March, bringing its full year dividend distribution to 13.8 cents. This is 10% higher than the full year dividend paid out in FY2020.Meanwhile, DBS has lowered its target price to S$3.05 from S$3.35 after cutting its earnings estimates on higher cost assumptions but maintains a buy call. Utility costs – which DBS expects to rise 2 to 3 times when contracts are due – are estimated to be 1 per cent of MIT's revenue. As such, DBS has cut its FY2023 estimates to account for the hike in utilities costs. Nevertheless,  I am optimistic that MIT will b

$SINGTEL(Z74.SI)$has pulled back to $2.59 (10% retracement) since hitting $2.88 high. The $2.80 region was also the previous pre-covid support region now turned resistance. Note that the $2.59 region has been a strong resistance where Singtel spent 1.5 yrs within the sideways range. It has now turned support and likely to be further tested these 2 weeks. A break of $2.59 could see the next support at $2.52.There was high volume on 31 May 2022 with 68mil shares transacted at closing. This is likely due to funds performing month end rebalancing and not due to bad news. Recent news on Singtel partnering Micron to deploy 5G mmWave solution and Redevelopment of Comcenter are positive although not immediately earnings accretive. Singtel

$MAPLETREE INDUSTRIAL TRUST(ME8U.SI)$Reason for buying:1) Dividend 5.2%2) Quarterly dividend payout3) PB 1.37Although the PB is above 1.0 (not really my style to buy REIT above PB 1.0), however given that the Data Centres portfolio is 53% of the AUM, I find this PB1.37 is justifiable.  For comparison, although not apple to apple, Keppel DC Reit PB at 2.0 / Digital Core Reit PB at 1.42 / Ascendas Reit PB at 1.22http://compoundingdividendxdividend.blogspot.com/2022/01/added-mapletree-industrial-trust.html?m=1

$CapLand IntCom T(C38U.SI)$Since hitting 1.92 low in early Feb 2022 on fears of steeper than expected interest rate hikes, CICT has been on a relentless upward climb aided by reopening news and return back to office. In early Apr 2022, it touched the 2.30s upper bound of the horizontal trading range but has since got rejected. The 2.32 region is also a support in 2019 that has now turned resistance. Aided by increasing rents and yield accretive acquisitions, it should only be a matter of time before CICT trades at 2019 levels again. Any retracement is likely to be supported around the 2.10 to 2.15 region where it traded for a good portion of 2021, barring any steeper than expected interest rate hikes. Assuming 10.4c annual divide

$HOTUNG INVESTMENT HLDGS LTD(BLS.SI)$Earnings up 4x

$DELFI LIMITED(P34.SI)$by DBS research 12 Aug 2022Bouncing back strongly, surpassing pre-COVID1H22 performance surpassing pre-COVIDBUY with raised TP of S$1.31; a steal at 10.4x FY22F PE and 25% market cap in cash. On the back of a stellar 1H22 performance, we raised our FY22F/23F earnings forecasts by 23%/16% due to better-than-expected top-line growth along with the improving consumer sentiment and easing of restrictions, particularly in Indonesia. Along with this, our TP is raised to S$1.31, from S$1.10 previously, as we roll our valuations over to the average of FY22F/23F, based on 17x PE, its four-year historical average. At 10.4x FY22F PE, along with c.25% of its market cap in net cash, this counter looks like a steal.Strong balance sheet

$SEMBCORP MARINE LTD(S51.SI)$Sembcorp Marine expects losses to continue for FY21 given worker shortage1. In the May 3 update, the group notes that supply chain constraints and a shortage of skilled workers continue to be a challenge, as ongoing border controls prevent foreign workers from countries such as India and Bangladesh from returning to Singapore.2. On its renewable energy sector, SembMarine highlights the contract it jointly secured with GE Renewable Energy’s Grid Solutions during the quarter for a high voltage direct current (HVDC) electrical transmission system for the Sofia Offshore Wind Farm. The HVDC system represents Sofia’s second-largest contract and is worth approximately GBP600 million ($1.12 billion).3. SembMarine is also curren

$UNITED OVERSEAS BANK LIMITED(U11.SI)$Since my last post (https://ttm.financial/m/post/9028872200), UOB is still entrenched below the downtrend line. It was well supported and closed near the high when funds did their rebalancing on 31 May 2022. However there was a bearish engulfing candle today on 1 Jun 2022  that took out yesterday's low. Trading on 2 Jun will provide confirmation whether there is follow through bearish price action. If so, the $28 support is likely to be tested these 2 weeks.However, value investors may note that the revalued NAV of UOB is around $27.16 based on FY2021 results. Therefore, it may be a buying opportunity if prices approach book value and having the price pull back around 15%.

$KEPPEL DC REIT(AJBU.SI)$gapped down today below the uptrend line after posting 2022Q1 results. It reported its first quarter net property income slipped 1.4 percent on-year to S$60.13 million and distribution per unit (DPU) came in at 2.466 Singapore cents, up 0.2 percent from 2.462 Singapore cents in the year-earlier quarter. So why did KDC fall despite increasing dpu? The main reason is reduced property income. The reduction in property income has already started since 2021H2 (124k in 2021H2 vs 129k in 2020H2) and we have also seen a continued reduction this quarter. Do take note that reit managers are required to distribute at least 90% of the reit's income, so they may increase the distribution percentage to make up for thereduce

$WILMAR INTERNATIONAL LIMITED(F34.SI)$Wilmar International's net profit doubles to US$450.2 mil, highest for 1Q1. Wilmar International has reported net profit of US$450.2 ($597.0 million) for the 1QFY2021 ended March, around double the net profit of US$224.1 million in the corresponding period the year before.2. The quarter's net profit is the group's highest first quarter since its listing.3. “We achieved good results to start the year in a challenging market environment. We will continue to strengthen our existing operations and build new complementary businesses which will help in our long-term growth,” says the group in an April 29 statement.4. “The sustained high palm oil price is expected to benefit our Oil Palm Plantation business in the com

$SINGTEL(Z74.SI)$$STARHUB LTD(CC3.SI)$Reason for weakness these 2 daysDisney shutting down 13 pay-TV channels in Singapore from Oct 11. Disney will be shutting down 13 pay-television channels currently available in Singapore from Oct 1, as part of the company's efforts "to pivot towards a direct-to-consumer-first model and further grow (its) streaming services".2. The 13 channels are Fox, Fox Crime, Fox Life, Fox Action Movies, Fox Family Movies, Fox Movies, FX, Fox Sports, Fox Sports 2, Fox Sports 3, Channel V, Nat Geo People and SCM Legend.3. The news comes two months after Disney's streaming platform Disney+ was launched in Singapore on Feb 23.4. Singtel, which carries all 13 affected channels on its pay

$KEPPEL DC REIT(AJBU.SI)$hitting the bottom of the triangle uptrend line. Also note the strong downtrend resistance. Buy as it bounces off the bottom uptrend line. Cut loss if it breaks below the bottom uptrend line. Take profit as it nears the top resistance line.

$CITY DEVELOPMENTS LIMITED(C09.SI)$CDL-MCL Land tie-up makes top bid of $445.9m for Farrer Park residential site1. The first residential government land sales (GLS) tender for 2021 - a plum site in the Farrer Park area - closed on Tuesday (April 27) evening after attracting 10 bids and a robust bid price that showed developers' hunger for land.2. City Developments (CDL) and joint venture partner MCL Land, through their wholly-owned units Maximus Residential SG and Maximus Commercial SG, emerged the top bidder at $445.9 million. This is only 5.7 per cent higher than the second highest bid of $421.9 million.3. The top bid of $1,129 per sq ft per plot ratio (ppr) is at the upper end of analysts' estimates. It is also higher than that of another GLS si

$BUKIT SEMBAWANG ESTATES LTD(B61.SI)$$CITY DEVELOPMENTS LIMITED(C09.SI)$CDL, Bukit Sembawang and UOL are analysts' top picks amid brisk March property sales1. The robust primary sales reported in March poses a double-edged sword for listed developers, say DBS Group Research analysts Derek Tan and Rachel Tan. The pair’s note comes after the property market saw a record quarter in the 1Q2021 with sales of around 3,400 units.2. The strong transaction volumes, including a record quarter in transaction volumes for resale HDB homes, say the analysts, are positive for property agencies such as APAC Realty. DBS has rated APAC Realty at “buy” with a target price of 61 cents.3. The developers within the bank’s covera

$WILMAR INTERNATIONAL LIMITED(F34.SI)$broke above the ascending triangle but failed to hold above the horizontal breakout line. It is now testing the uptrend line. Bullish if it can bounce off the uptrend line, hence breaking out of the immediate downtrend.  Bearish if it breaks and closes below uptrend line.