ASCENDAS REIT: We adjust for a higher rental base for the warehouse retail segment, increasing our FY09 DPU forecast to $0.153 (+2.9%) and FY10 forecast to $0.164 (+0.3%). Maintain OUTPERFORM.
Investors have now braced themselves for an end to the subprime mess and, thus, are more than ready to jump back into the market as long as bad news are not overwhelmingly bad.
SYNOPSIS : UOB’s earnings growth in 2008 is projected to be the highest of the three banks. With 12.4% projected 2008 ROE, UOB is worth S$22, offering another 7% upside from the current level.
As testament to the good quality of its products, CZ won the “Top 500 Asia Valuable Brand Award” by the Supervision and Management Centre of Asia International Brand Certification. It was also conferred China Leather Industry Association’s “2006 Top 12 Bag Brands in China”.
The Chinese economy has continued to expand at a blistering pace. Latest first quarter economic growth came in at 10.6% in spite of the slowdown in the US. China is expected to weather the subprime storm as the government has taken steps to divert exports to other countries apart from America.
Recently, several companies have changed their names or bought over new businesses to change their overall business strategy. Shares Investment (Singapore) would like to discuss about Tri-M Technologies’ (Tri-M) meteoric rise as its share price rose over 700% in the past month.
Shares Investment (Singapore) is not so optimistic on the current situation. We feel that the worst might be felt only in the 2nd half of the year due to the above discussion and one very important factor – rising US unemployment rate.
On the other hand, the Chinese stock market has been falling non-stop since last year. What is the relationship between China companies and the US subprime issue? None. There is no relation but why has the Chinese market fallen by so much?
