Singapore Press Holdings (SPH)

(27-08-2012, 08:06 AM)KopiKat Wrote:

(26-08-2012, 09:50 PM)CityFarmer Wrote: I had substantially reduced my holding of SPH recently, as part of the "rotating" strategy for my anchor stocks.

I do agree that there is limited up-side with the current price. I will increase the holding once the price fall back to my target price

FY end is Aug, results was on 12-Oct last year and DPS = 17ct. From the 3Qs result so far, the DPS will likely be very similar, assuming the same payout rate.

With STI still hovering between 3000-3100, SPH share price may be well supported heading towards Oct and there may be a small upside cos' of the DPS to be announced.

I doubt we're going to see the $3.6x levels unless there's a market correction. If I have any spare funds, my Buy target would now be $3.8x and even $3.9x as we approach closer to Oct, assuming STI remains at current levels. Any drops, then adjust target price accordingly...

I agreed with your assessment, it make sense

If SPH's price does not adjusted down to my target price (due to whatever reason), it will not make sense for me to switch back.

I will continue with the current holding, which should sufficiently compensated for the lost of 17cts dividend with SPH

From TA perspective, it is hitting lower lows and lower highs = Downtrend.
From FA perspective, the Newspaper circulations are down while population is up.
The EPS is coming down except one year where SKY Eleven contributions was strong.
Recognising that they are losing monopoly in the media and ads, they try to diversify
by buying Shreinvestor and so on.
But, the Board members average age > 60 years old. I have some doubts if they understand
what is next generation media.
Clementi Mall seems to do well. Plus Paragon and Senkang coming up. These might not
be enough to provide future growth.
The days where SPH is viewed as a value stocks providing stable passive income is Over.

the advert profit is holding up well. lets see if circulation plunge accelerates

A significant portions of the adverts are from properties and Mobile phones.
This could reduce as market cools plus drains to Propertyguru.
While the Telcos are still healthy, cost cuts is on the way...

(27-08-2012, 12:54 PM)thleong Wrote: A significant portions of the adverts are from properties and Mobile phones.
This could reduce as market cools plus drains to Propertyguru.
While the Telcos are still healthy, cost cuts is on the way...

The same story of SPH going down appeared way back before year 2000. Till today, the SPH media biz still stay strong. Yes, i admitted that it did not grow in profit

It reminded me a story which stated Goh Chok Tong is warming seat for Lee Hsien Loong as prime minister. The story went true (or busted?) after 14 years. If it took 14 years to warm a seat, then every president of US is warming seat for their successor.

SPH's management also bought back share. It means the current market price is under-value.

Half a million share $3.96

http://info.sgx.com/webcorannc.nsf/Annou...endocument

(05-09-2012, 08:06 PM)CityFarmer Wrote: SPH's management also bought back share. It means the current market price is under-value.

Half a million share $3.96

http://info.sgx.com/webcorannc.nsf/Annou...endocument

Hey! I was crazy enough to Q for some @ $3.95 at 5pm and got done @ $3.93! CP was from UBS Securities. Looks like some funds may be selling a lot in a hurry! With STI dropping below 3000 today, it looks like I may have become a long term investor for this Buy! No worries for this 'die-hard' fan...

SPH starting to charge digital reader since 5 Sept, which include the online website.

It's is a milestone event in SPH's strategy, the outcome is being monitored...

I might be wrong to divest significant part of my SPH holding recently

http://www.zaobao.com.sg/wencui/2012/09/...0904.shtml

(06-09-2012, 10:13 AM)CityFarmer Wrote: SPH starting to charge digital reader since 5 Sept, which include the online website.

It's is a milestone event in SPH's strategy, the outcome is being monitored...

I might be wrong to divest significant part of my SPH holding recently

http://www.zaobao.com.sg/wencui/2012/09/...0904.shtml

For a passive investor (who has little time to spend on stocks), the smart thing to do is to find a stock that suits your needs (Income, Growth,..etc.) and then just buy and hold.. till the reasons for buying and holding has changed ie. stopped growing, dividends cut,..etc.

For an active investor, as long as the money is well deployed (for another stock with a higher probability of making higher returns) after switching, nothing wrong with that. Many a times, I may even come back to the original stock and buy at a higher price....

(06-09-2012, 10:13 AM)CityFarmer Wrote: SPH starting to charge digital reader since 5 Sept, which include the online website.

It's is a milestone event in SPH's strategy, the outcome is being monitored...

I might be wrong to divest significant part of my SPH holding recently

http://www.zaobao.com.sg/wencui/2012/09/...0904.shtml

If you make some money, it is never "wrong" to sell. i always believe it is very difficult to sell but very easy to buy. i may buy-back some lots i have sold. My 2 cents