Bunifa Latif

    • Bunifa Latif·08-19 21:27Bunifa Latif

      [Game] Can you guess the stock symbol in 3 seconds?

      @TigerEvents
      [Game] Can you guess the stock symbol in 3 seconds? Think you're a whizz on the stock market? This quick-fire quiz features 20 famous stocks. Let's see how many you guess correctly! 📢How to participate? Take a screenshot of the video above, and guess which company it belongs to? Feel free to post it in the comment section below! There are tons of coins waiting for you! 🎁Event Prizes Tigers will be given 10 Tiger coins for every [correct answer + corresponding screenshot] (maximum limit 200 Tiger Coins ) Repost and tag your friends in the comment section, and you will be given 10 Tiger coins.(maximum limit 100 Tiger Coins ) The first and last Tiger who posts all the correct answers to our quizzes will be rewarded 1000 coins. ⏰Event Duration 19th, August- 26th, August 📖Notes A Tiger who posts the same screenshots will be given coins only once. Screenshots by copying and pasting from others are not valid. (Remember to add watermarks to your photos) Only screenshots posted in the comment section of this post are valid. Tiger Community reserves the rights for final explanation. Do not forget to tag your friends to join the events, and win Tiger coins together $Tiger Brokers(TIGR)$
      [Game] Can you guess the stock symbol in 3 seconds?
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    • Bunifa Latif·08-19 09:49Bunifa Latif
      No

      A $2 Trillion Stock-Options Deadline Is Make-Or-Break Moment for Bulls

      Options trading seen having lifted stocks, capping volatilityBrace for price swings in both directio
      A $2 Trillion Stock-Options Deadline Is Make-Or-Break Moment for Bulls
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    • Bunifa Latif·08-19 09:49Bunifa Latif
      $SEMBCORP INDUSTRIES LTD(U96.SI)$ 1H22 earnings blew past estimates. Net profit of S$490m made up 93% of our previous 5% above consensus full year forecast. The impressive performance was driven by its Conventional Energy segment, especially in Singapore and India that saw a spike in tariffs and spreads. This was further boosted by gains from gas hedges (S$68m) and other income (S$24m) totalling S$92m that are not recurring. The unwinding of gas hedges occurred due to the cancellation of the cargo expected in 1H22. Other income included settlement with customers on late payment of S$15m (1H2021: S$15m) and withO&M contractors of S$8m in India and cancellation fee of S$12m received from a supplier in Singapore. Earnings revisions. We are raising our FY22/23F net profit by 46/18% after factoring in the stronger 1H performance, earnings improvement of India Plant 2 and higher contribution of recent acquisitions of renewable assets in China. I expect profit to normalize in 2H22, though still stronger y-o-y taking into consideration the potential slowdown in economic activities but improved fundamentals of the power markets in Singapore and India. Potential Special Dividend in 2H; Declared interim dividend of 4 Scts, double that of 1H21’s 2 Scts, translating to a dividend yield of ~1.3%. i revised up my projection for final dividend to 4 Scts and assume a special dividend of 2 Scts, bringing full year DPS to 10 Scts or 3.3% yield. This implies a 23% payout ratio, at the higher end of the 19-24% range in the past 3-years.Management shared during the briefing that SCI adopts a dividend principal that rewards shareholders with steady returns while balancing with capital requirements for capex and growth. A special dividend in 2H could be considered on the back of strong financial performance.Gross renewable capacity has grown to 7.1GW as of end Jun-22, from 6.1GW end last year, look set to achieve its 10GW target ahead of 2025. This Includes 1.7GW generation capacity that is currently under development. Renewable profits surged 138% h-o-h to S$76m in 1H22 with maiden contribution from recent acquisitions in China. Acquisitions of SDIC (35% stake) and Shenzhen Huiyang New Energy (HYNE, 98% stake) were completed in Jan and Jun 2022. They contributed profit of S$23m and S$7m (excluding interest expense) respectively in 1H22. Renewable segment now accounts for 16% of group headline profit. Myanmar – low risk of provisions/ impairments. Based on our assessment of the situation, management expects low risk of operational disruption and provisions/impairment. While the Central Bank has announced a halt on foreign loan payments, SCI continues to receive prompt payments for its power generation in Myanmar and believes it should not be impacted being an essential service. SCI’s power plant in Myanmar has a book value of c.S$100m and outstanding loan of ~S$200m.@TigerStars DYODD
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    • Bunifa Latif·08-18 10:01Bunifa Latif
      $SARINE TECHNOLOGIES LTD(U77.SI)$ 1H22 revenue was US$31.2m vs US$36.0m in 1H21 (+19.2 h-o-h, -13.3% y-o-y). The 13.3% decline y-o-y can be attributed to a high base effect in 1H21 during the post pandemic rebound of the diamond industry. 1H22 revenue amounted to 54.5% of our full year estimates, broadly in line with expectations as the first half of the year is typically stronger.1H22 gross margins dipped to 71.3% vs 74.6% in 1H21. The lower profitability is on the back of lower overall sales and absence of the sale of inventory that was previously written off. Overall net margins also declined to 21.0%, from 35.0% previously upon the normalization of operating expenses as activities such as trade shows have partially resumed. Coupled with lower sales, net profit fell 48% y-o-y from a high base. Capital equipment sales declined by c.30%, offset by higher recurring revenues. The lower capital equipment sales can be attributed mainly to geopolitical uncertainties. Our checks indicate that this sharp drop is unlikely to recur as there has been some easing in geopolitical uncertainties. Nonetheless, this was cushioned by an 22% increase in recurring revenues that consisted of trade related revenues and diamond scanning revenue. In 1H22, Sarine delivered 32 Galaxy family inclusion mapping systems, including 12 systems for larger stones mainly to customers in Africa. This is comparably higher to 5 systems for larger stones in 2H21 and 8 systems for larger stones in 1H21. The increase in sale of systems for larger stones was brought about as the government in Botswana and Angola encouraged domestic cutting and polishing. As at 1H22, Sarine’s total installed base stands at 743 systems. Higher margin trade-related revenues more than doubled. Trade revenues grew 70%, reaching 11% of total revenue from just c.6% in 1H21. Sarine is seeing increasing adoption of the Sarine Diamond Journey by many global brands such as Maison Boucheron and the Aura Consortium which comprises Cartier and LVMH. China’s National Gem Testing Centre, the largest gemological laboratory has adopted The Sarine Profile, which should support growth in trade-related revenues. There are also further developments in two key trade-related services with the broader roll-out of e-grading to midstream customers and beta-testing of Sarine AutoScan. Advancements in the trade-related segments have been encouraging and we believe that the growing trade revenues will be a key catalyst for Sarine.India’s diamond midstream manufacturing activity sturdy in 1H22, reflected in higher diamond scanning activity for Sarine. According to the GJEPC India, India’s 1H22 cut and polished exports came in at US$12,493 million, 4.3% higher than the same period last year. We observe a similar pattern in Sarine’s diamond scanning revenue which benefitted from higher quantities of rough diamonds scanned on the Galaxy systems in 1H22.1H22 was robust but we remain cautious of macroeconomic weakness. The Mastercard Spending Pulse for the month of July shows that US jewelry spending jumped 19% y-o-y and was 109% higher than the same period in 2019. While US inflation has eased slightly to 8.5% in July, US disposable income is still under pressure. Thus far, jewelry sales in the US have continued to thrive however that may change if the macroeconomic environment worsens significantly. US retail market divided, demand for larger diamonds resilient. Interestingly, demand for diamonds 3ct and above remains strong whereas demand for smaller 1-2ct diamonds is diminishing. This is reflective of the effects of inflation on the affluent and the middle class. In a high inflationary environment with a higher risk of recession, middle-class consumers are likely to delay or put off discretionary purchases such as diamonds. However, we note that the diamond industry has generally been resilient to mild recessions. Hence, we do not see significant dips in diamond scanning revenue unless the economy tips into a severe or prolonged recession. China’s zero-covid policy a headwind for Chinese retail demand and the supply chain. The Shanghai Diamond Exchange (SDE) which reflects China’s shipment of diamonds for domestic sale reported that polished imports declined 36% y-o-y. Diamond demand in China was weaker in the first half owing to waves of Covid-19 cases. Nonetheless, the President of the SDE is optimistic of recovery in the domestic market with the launch of economic stimulus packages. In addition, the lockdowns have also impacted Sarine’s Chinese suppliers which has resulted in longer lead times and price increases. As yet, the impact of the supply chain disruptions has been minor as the secondary effects on Sarine’s suppliers in other regions are less pronounced. Sustainable dividend yield of 7%. Sarine declared an interim dividend of US1.0 cent per ordinary share and a special bonus dividend of US0.5 cents. This gives rise to a dividend yield of 8.7% assuming that Sarine pays out US1.0 cent as its final dividend. Excluding the special dividend, Sarine currently trades at an attractive dividend yield of 7%.@TigerStars DYODD 
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    • Bunifa Latif·08-18 09:36Bunifa Latif
      No 

      Fed Officials Saw Need to Slow Rate-Hike Pace “At Some Point”

      Many participants saw risk of over-tightening policyOfficials saw significant risk of entrenched inf
      Fed Officials Saw Need to Slow Rate-Hike Pace “At Some Point”
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    • Bunifa Latif·08-18 09:36Bunifa Latif
      $Keppel Infrastructure Trust(KPLIF)$ Continues acquisition spree, buying into leading integrated waste management platform in South KoreaAs an essential service provider with organic and inorganic growth potential, fits well into KIT’s portfolio and also supports ESG targetsAcquisition will be accretive to distributable income once completed towards the end of 2022Delivery of cash flows from recently announced deals will be key to watch out for in 2H22; maintain BUY with TP of S$0.63 KIT announces proposed acquisition in environmental services space in Korea. KIT, together with co-investors Keppel Asia Infrastructure Fund (KAIF) and Keppel Infrastructure Holdings (KI), announced the acquisition of 100% stake in Eco Management Korea Holdings Co., Ltd. (EMK) for KRW626.1 billion (approximately S$666.1 million), through a SPV structure. KIT will hold 52%, KAIF 30% and KI 18% in this SPV. The deal is expected to be completed by the end of 3Q22, precedent on certain conditions. This deal had been reported to be in the working earlier, and resulted through negotiations with the seller through a competitive bid process. The seller is IMM Investment and Korea Development Bank Private Equity. Who is EMK? EMK is a leading integrated waste management services player in South Korea, operating six waste-to-energy (WTE) plants and five sludge drying facilities, with an incineration capacity of 404 tonnes per day (third largest in South Korea) and waste oil refining capacity of 154 tonnes per day (largest in South Korea). It also manages and owns a landfill, which has the fourth largest capacity in the nation (1.5 million m3). Customers include municipals and blue chip names like LG, Samsung, Coupang et al and so far, there has been no counterparty issues. How does it fit into KIT’s portfolio? 1) Waste management is an essential service and will continue to grow at a steady pace as cities expand, with minimal cyclical risk, 2) fits into the theme of circular economy and sustainable urbanisation, supporting KIT’s ESG targets 3) waste management market in Korea has high barriers to entry and supply-demand dynamics will be in favour of this business, aiding organic growth, according to management (EMK registered 25% EBITDA CAGR over FY19-21, aided by ASP growth and increase in volumes), 4) waste management market is highly fragmented in Korea, and there is potential for inorganic growth by consolidating smaller players in future. What is the impact? Management has indicated that on a proforma basis, the acquisition would have boosted FY21 distributable income and DPUs by around 4%. However, in reality, the future accretion will likely be higher in actuality (in the range of 8-10%), as FY21 is not representative of normalised year, as some businesses are ramping up and the landfill only started operations in 2022. Still, given that average remaining life of the assets is likely less than 15 years on average, the pricing looks to be on the higher side to us at first glance, and deal structuring, financing costs and future growth execution will need to be favourable to make the pricing dynamics work, in our opinion. If fully debt financed, gearing (net debt/ asset) will likely increase from current 0.31x to 0.40x and leave not much headroom to 0.45x benchmark. KIT will be taking a bridge loan to finance the equity portion of the deal for now, and will evaluate capital markets (including equity fund raising)/ borrowing options later to repay the bridge loan. Of course, if and when Ixom divestment is completed in 2023, sale proceeds could also be used to repay bridge loans used in financing prior acquisitions, so the risk of EFR is not high.@TigerStars  DYODD 
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    • Bunifa Latif·08-17Bunifa Latif
      $KEPPEL DC REIT(AJBU.SI)$ (+) Distributable Income (DI) increased 8.2% y-o-yGrowth in DI is mainly due to accretive acquisitions over the past yearGuangdong DC 1, Eindhoven DC, and London DCHigher electricity cost had a negligible impact on earnings, as more than 90% of electricity costs are recoverable from tenants(+) 1H22 DPU of 5.049 Scts; 2.5% higher y-o-yHigher DPU mainly due to accretive acquisitions, higher occupancies, and positive rental reversions1H22 DPU of 5.049 Scts in line with our estimates; accounting for c.50.5% of our FY22F projections(+) Portfolio occupancy remained strong at 98.2%Overall portfolio occupancy remained strong at 98.2%Only concern with occupancy is for Basis Bay in MalaysiaOccupancy for property fell to 40.2%; while tenants have renewed leases, they have taken on less spaceProperty only accounts for less than 1% of income; do not expect any significant impact to earnings(-) All-in financing costs continue to inch up to 1.9% All-in financing costs inched up by c.0.1% mainly due to new loans drawn down for the London DC acquisition and issuance of EUR75m notesEUR75m notes were issued in May 2022 at 2.61%Used to refinance expiring loansOnly c.S$40m of loans due to expire in FY22 (EUR-denominated loans)Loans expiring in FY23 amount to only c.S$170m (EUR and AUD denominated)With c.76% of borrowings hedged to fixed rates for an average tenor of 3.6 years, KDCREIT does not expect any significant increase in financing costs in FY22FRemaining unhedged borrowings are largely denominated in EURInterest rate sensitivity: we estimate that every 100bps increase in interest rates will impact DPU by c.1.6%(+) Minimal impact from FXKDCREIT hedges its income up to two years ahead; until 2H23FMinimal impact to earnings this year, as income has mostly been hedged previouslyWith the strengthening SGD against most foreign currencies, the FX impact may only be felt in FY24, but KDCREIT is actively monitoring FX rates to minimise this impact(+) No equity fund-raising in FY22FFirst tranche of payments for the acquisition of Guangdong DC 2 and 3 in FY22F will be funded using debtHealthy gearing of only 35.3% currentlyKDCREIT will decide again if any equity fund-raising is required to fund the remaining portion of Guangdong DC 3 when approaching completionGuangdong DC 3 acquisition only expected to be completed in 3Q23Even if equity fund-raising is required in 3Q23F, we expect it to only be a small amountGearing will only creep up to c.39%, assuming both DCs are acquired entirely by debtMy thoughtsKDCREIT reported a strong set of results in 1H22 despite concerns of rising electricity costs and interest rates. 1H22 DPU of 5.049 Scts is in line with My estimates, and it is helped by accretive acquisitions done over the past year, as well as continued strong occupancy rates and positive rental reversions. Much of the impact of higher utility costs and rising interest rates have been mitigated by KDCREIT’s ability to pass on higher energy costs to tenants and the fact that c.76% of its borrowings that have been hedged to fixed rates.As highlighted by management, they do not expect rising interest rates to have any major impact to earnings in the medium term. However, i am mindful that new loans taken, and the refinancing of expiring loans would lead to higher all-in financing costs.Main drivers to earnings going forward will be the completion of Guangdong DC 2 and 3 acquisitions. KDCREIT has reiterated that it does not require any equity fund-raising in FY22, as it has ample debt headroom to fund the first tranche of payments for the acquisitions. It will reassess the need for any equity fund-raising only when time comes to make the second tranche of payments, which is expected to be in 3Q23. In our estimates, i have already assumed that KDCREIT will tap into the market to raise a small amount of equity of c.S$90m in 2H23F.i remain positive on KDCREIT for its stable earnings driven by its recent acquisitions. Looking ahead, the Guangdong DC 2 and 3 acquisitions will be the main driver to its c.3.8% CAGR in DPU in FY23-FY24, and it will help offset the bulk of any increase in financing costs (my estimates assume a 20bps increase in all-in borrowing costs in FY23 and FY24).@TigerStars DYODD
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    • Bunifa Latif·08-17Bunifa Latif
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    • Bunifa Latif·08-17Bunifa Latif
      Yes

      Elon Musk Says He Is Buying Manchester United

      (Reuters) - Tesla Chief Executive Officer Elon Musk said on Tuesday he was buying football club Manc
      Elon Musk Says He Is Buying Manchester United
      01
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    • Bunifa Latif·08-17Bunifa Latif
      No 

      After-Hours Movers: GameStop, Bed Bath & Beyond, FuboTV, Agilent And More

      After-Hours Stock Movers:Cassava Sciences 20% HIGHER; Director Stanford Robertson bought $2 million
      After-Hours Movers: GameStop, Bed Bath & Beyond, FuboTV, Agilent And More
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