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Seems like no one posted on this company yet. Been pretty shareholder friendly with its great dividend. Just declared 2.5cents dividend. Probably the biggest tile supplier in Singapore to homes and hdb.

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Hi I don't quite see the economic moat of this counter. EPS of only 1.2 cents .,,
very high dividend yield. Seems attractive.
Hafary seems like a much bigger player. And seems much cheaper and attractive than jason holdings.

But whether competition are going against them is another question. Based on their FY2013 results, they are still facing high operations cost issue.

(not vested)
But very illiquid
(10-09-2013, 10:40 PM)palantir Wrote: [ -> ]But very illiquid
Does not matter if you park your money and receive dividends every year.
Woke up... high volume...
Hi all out there, just recently did a rough research on this company, any idea why year after year it's debt is rolling like a snowball and it is issuing more shares. (There's an extra 100m new shares since 2011 till now).

Analysts pick stocks set to gain from URA plan

Well-placed developers, construction firms and Reits may stand to benefit

Published on Nov 23, 2013

By Jonathan Kwok

STOCK analysts have been rushing to pick winners since the Urban Redevelopment Authority (URA) unveiled its Draft Master Plan 2013 this week.

The plan outlines how Singapore would develop over the next decade, and some well-placed companies could benefit from the changes ahead.

Analysts have drawn up their lists of real estate investment trusts (Reits), developers, construction firms and those supporting the building sector.

DBS Vickers Research believes the beneficiaries will include Mapletree Commercial Trust, Frasers Centrepoint Trust, Keppel Land, OUE, Pan-United Corp and Centurion Corp.

For its part, UOB Kay Hian Research highlights CapitaMall Trust, Mapletree Commercial Trust, Frasers Centrepoint Trust, Keppel Reit, Suntec Reit, CapitaMalls Asia, CapitaLand, Keppel Land, City Developments and Frasers Centrepoint, which will soon be spun off from parent Fraser and Neave.

UOB Kay Hian's long list of potential winners also includes United Engineers, Chip Eng Seng Corp, Hock Lian Seng Holdings, Tiong Seng Holdings, ISOTeam, Hafary Holdings and Kori Holdings.

Analysts agree that Marina Bay, Marina South and the Southern Waterfront are exciting areas that will garner much interest from developers and consumers - and benefit those already in these areas.

Marina South and the Southern Waterfront will capitalise on Singapore's premium waterfront views and locations, notes DBS Vickers Research.

"While most developers are likely to be beneficiaries in the long run, those with existing exposure to the growth locations could have a first-mover advantage," it said in a report on Thursday.

They include landlord Mapletree Commercial Trust with its presence in the Telok Blangah area, developer Keppel Land with its existing land bank in both Telok Blangah and Tanjong Pagar, and OUE with its presence in Tanjong Pagar.

DBS Vickers also likes shopping mall owner Frasers Centrepoint Trust, which has a presence in Woodlands, another area to be further developed.

"Construction companies are also likely to enjoy the positive knock-on impact from continuous building activity," the report said.

DBS Vickers feels Pan-United will benefit from a solid construction pipeline. It also likes workers' dormitories provider Centurion, as increased construction activity will expand the housing needs of foreign construction workers.

Its stock picks - Mapletree Commercial Trust, Frasers Centrepoint Trust and Keppel Land - also feature on UOB Kay Hian's list.

UOB Kay Hian believes the Southern Waterfront development, which will involve the relocation of the Pasir Panjang and Tanjong Pagar terminals, will benefit Mapletree Commercial Trust, which has substantial retail and commercial exposure to the area.

In addition, it feels development of the Woodlands North Coast and Woodlands Central, along with the rail linkage to Malaysia, will boost demand for malls and upcoming developments owned by Frasers Centrepoint Trust and Frasers Centrepoint.

"Greater priority for integrated and mixed-use developments could benefit larger developers such as CapitaLand, Frasers Centrepoint, Keppel Land and City Developments," it said.

"Land earmarked for 500,000 new homes, with a greater emphasis on HDB estates, will provide new opportunities for HDB construction companies, such as United Engineers, Chip Eng Seng, Hock Lian Seng and Tiong Seng - together with HDB estate managers such as ISOTeam and material suppliers such as Hafary."

It notes that opportunities for underground developments - such as an 800m-long pedestrian street featuring an underground shopping mall at Marina Bay - will benefit specialised underground construction players, such as Kori Holdings.

"Marina Bay and Marina South will offer new opportunities for office, retail and entertainment amenities that will complement Reits with existing developments in the area, such as Keppel Reit and Suntec Reit.

"Further development in the Jurong Lake District will be advantageous to CapitaMall Trust and CapitaMalls Asia."

UOB Kay Hian expects benefits from the URA master plan to accrue over the medium to long term, and it remains cautious about the residential segment over the near term.
Hafary is a long term investment, from 2014 onwards, we shd see a steady increase in profit. High Debt is becos of huge inventory and the properties bought. But the gearing should come down as profit increases
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