UOL Group

Selected developers are testing oversold lows but can they rebound?  - THE EDGE SINGAPORE

Right Timing

Selected developers are testing oversold lows but can they rebound?

Selected developers are at oversold lows but rebounds are likely to be tepid as sentiment is weak amidst affordability concerns

Broker's Calls

Analysts continue to like UOL Group after strong 1HFY2022 results

CGS-CIMB and OCBC Investment Research have kept their "add" and "buy" calls with respective TPs of $8.00 and $8.52.

Results

Singapore Land 1HFY2022 earnings up 290% y-o-y on revaluation gains

As at June 30, the company's net asset value was $5.52 per share, versus $5.30 as at Dec 2021.

Broker's Calls

Valuations for property developers remain attractive despite slow home sales in June

Despite the property sales slump in June, analysts are still seeing the value in the real estate industry.

Right Timing

Sora is at year-high but CDL, UOL have fallen and are nearing supports

Although Sora is at a 1-year high, CDL and UOL share prices have fallen ahead of higher interest rates

Property

CityDev, CapitaLand Investment mind the NAV and share price gap

City Developments and other developers mull discount between share price, NAV and RNAV

Results

UOL reports earnings recovery, says higher costs could stymie margins

UOL reports significantly higher earnings on fair value gains and residential property demand, cites higher costs as challenges

Results

Haw Par nearly doubles 2HFY2021 earnings to $57.1 mil

The company will pay a total FY2021 dividend of 30 cents per share

Budget 2022

Higher property taxes to have negative impact on developers and property agencies: CGS-CIMB

However, rental rates may go higher to make up for the higher taxes
Largest shareholder of APPT sees stake rise; Megachem MD Chew buys more - THE EDGE SINGAPORE

Insider moves

Largest shareholder of APPT sees stake rise; Megachem MD Chew buys more

APPT is guiding for a full year distribution of a cent per unit
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