• 新加坡股票研报 | 腾飞房产投资信托(Ascendas REIT)

    26th April, 2018

    摘要: 总收入和DPU与我们的预测相符 2017/18财年下半年的DPU为7.880分,相比2016/17财年下半年的DPU则为 7.845 分/17 (同比增长0.45% ) 投资组合在估值,入住率和总杠杆率方面保持稳定 维持增持评级;上调目标价至新元2.91 (先前是新元2.89) 积极方面 投资组合价值保持稳定,资本化率略有收紧。同店126套物业...

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  • 新加坡股票研报 | 凯德商用新加坡信托(CapitaLand Mall Trust)

    25th April, 2018

    摘要: 凯德商用新加坡信托 2018年一季度的房地产净利和每单位分红在我们预测范围内。 较高的入住率和较低的运营支出支持DPU的同比增长1.8%。 整体承租销售仍然低迷,但有几个分部门的表现出色。 Sembawang 购物中心(SSC) 以2017财年1.97倍的估值出售,给我们一个正面的惊喜。 维持中性评级,考虑到撤资收益,目标价上调至新元2.05 (原先为新元2.03)。...

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  • 新加坡股票研报 | 新加坡证券交易所(SGX)- 谢谢你的波动

    24th April, 2018

    摘要: 投资概要 2018年三季度的税后净利比我们的预测超出11%。2.22亿新元的收入是上市 以来的最高收益。证券方面的收益超出我们的预期。 衍生品业务推动了收入增长,销量同比增长了34%。外汇衍生品的交易量飙升了89%。 新交所将于2018年6月推出新的印度股票衍生品,与所谓的“公开参考价格”挂钩。 维持买入评级。我们上调目标价至新元9.20 (先前为新元8.89),与我们20...

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  • 新加坡股研报 | 吉宝数据中心(Keppel DC REIT)

    19th April, 2018

    摘要: 投资概要 由于净税和调整,总收入比我们预期的高出4.8%,DPU比我们预期的下降10.4%。 与2018财年的预测一致,总收入和DPU分别达到25%和23%。 3月30日,德国maincubes 数据中心的收购已完成,将投资组合的环比由15.1亿新元增长至16.6亿新元。 维持中性评级;目标价不变,仍为1.47新元。 积极方面 投资组合W...

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  • 新加坡股票研报 | 新加坡煤炭板块更新

    3rd April, 2018

    摘要: 中国 在2018年3月,当局宣布了2018年的政府工作报告,其中部分内容指导正在进行的供给侧改革。据报道,中国将在2018年分别削减钢材和煤炭的产能达到3000万吨和1.5亿吨。与此同时,当局将关闭产能少于300k 千瓦特,无法达到2018年排放标准的燃煤发电厂。 印尼 在2018年3月,能源和矿产资源部 (MEMR) 为了公众的利益,宣布了一项针对电力部门的煤...

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  • 新加坡研报 | 新加坡房地产信托基金 (REITs)

    29th March, 2018

    摘要: 2018年首次加息以及对新加坡地产信托基金(REITs)的影响 正如市场普遍预期的那样,美联储上周将利率提升了25个基点,至1.75%,同时维持对2018年加息三次的预测。 尽管美联储上调了对经济的展望,但预计2018年的短期通胀仍将保持温和,核心通胀和整体通胀预期均为1.9%。 这一消息在很大程度上摆脱了其对房地产信托基金的影响,富时新加坡房产指数在加息后的第二天下跌了0.2%。尽...

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  • 新加坡股研报——中国尚舜化工控股有限公司

    8th March, 2018

    摘要: • 2017财年的净利润与我们全年的预测相符。2017财年的平均售价飙升。 • 新产能的试运行正在等待批准。 • 我们维持2018财年末的每股盈利 (新元16 分) ,并将我们2019财年末的每股盈利调整至新元17.7 分(先前是新元17.6 分)。我们维持买入评级的建议,目标价不变,仍为新元1.60。   总括   积极方面 ...

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  • 新加坡市值最大的酒店股年初至今平均上涨 20%

    3rd January, 2018

    摘要: 新加坡 20 大酒店、餐厅和休闲股 2017 年年初至今取得了 20% 的平均总回报率,其中 17 只股票上涨,3 只股票下跌。这 20 大股票中,有三只还是年初至今业绩最好的股票,分别是云顶新加坡、香格里拉亚洲和文华东方。   香格里拉亚洲和文华东方均为第二上市股票。在 2017 年的前 11 个月,香格里拉亚洲的月均成交额较 2016 年的水平增长 2.6 倍,文华东方国...

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