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楼主: 臥龍先生

【Capitaland C31 交流专区】嘉德置地 CAPITALAND LIMITED

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发表于 6-8-2009 10:01 PM | 显示全部楼层

Capitaland Ltd

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发表于 6-8-2009 10:03 PM | 显示全部楼层

Capitaland Ltd

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发表于 27-8-2009 10:31 AM | 显示全部楼层
昨天买了1LOT TESTING 下。。。。。 @ 3.75  。。。 期待$4
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发表于 5-9-2009 10:18 PM | 显示全部楼层

回复 63# babyfish 的帖子

要我陪你吗? 排3.70吧....
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发表于 7-9-2009 11:24 AM | 显示全部楼层

回复 64# slimerlth 的帖子

3.80 today ~ yeah
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发表于 7-9-2009 06:06 PM | 显示全部楼层

回复 65# babyfish 的帖子

你就爽咯... 赚钱记得来分享......
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发表于 7-9-2009 11:24 PM | 显示全部楼层
capital land 冲啊。。。。。
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 楼主| 发表于 8-9-2009 09:17 AM | 显示全部楼层
CapitaLand
BUY
Current Price: S$3.77
Target Price: S$4.90

The new-design launch of the former Gillman heights
CapitaLand’s much awaited project launch of The Interlace (former Gillman Heights) in October is expected to receive a warm response and further boost the sales volume in the already buoyant residential segment.


Corporate Events
We recently attended the design launch of The Interlace. Located at Alexandra Road/Depot Road, it is one of the largest and much awaited residential developments jointly developed by CapitaLand and Hotel Properties. The design presentation was followed by a media/analysts Q&A session.


Unique architecture. The Interlace has 1,040 units designed by world renowned architect Ole Scheeren, Partner of the Office for Metropolitan Architecture (OMA). The design breaks away from the traditional normal cluster of vertically stacked tower residential apartments into a stacked interlocking hexagonal arrangement comprising 31 apartment blocks with an expansive and interconnected network of communal spaces. The project aims to present a radically new approach to contemporary living in a tropical environment.


Stock Impact
Project ASP could set new benchmark levels. The 81,000sqm site was acquired at S$548m or S$363psfppr. Management estimates construction cost at S$250-270psf which works out to a breakeven cost of around S$750psf. We expect average ASP levels of around S$1,000psf, a new benchmark in the area considering the highest resale prices of S$517psf and S$817 psf for Gillman Heights (former site) and Normanton Park (closest comparable) respectively. The average ASPs of some of other comparable projects cited by management in nearby locations are S$900-1100 psf at One North Residences, S$900-1000psf at Rochester, S$800-1,400 psf at Caribbean and S$1,500-1,700psf at Reflections at Keppel Bay.


The sale of the 1,040-unit project could well boost the transaction volumes in the already buoyant mass- and mid-tier segments and set new price levels for future projects. We estimate that the project could bring in S$262.5m in pretax profits or 5.8 cents a share in pretax profits. We expect strong demand for this project considering the attractiveness of the location and recent buying interest.


Project financing completed. The total development cost for the project is around S$1.4b and CapitaLand has made arrangements for a 5-year S$660m project financing from seven leading bankers at an attractive interest rate of 3.48%. Management said construction for the project would begin soon and is close to awarding its construction contract work to local construction and building group.


Upcoming launches. Management said that after the launch of The Interlace in October, it will launch the 165-unit former Char Yong Gardens site in 4Q09. Capitaland acquired this site at the height of the property boom in 2007 at a price of S$1,788psf including development charges but has written down its value by S$49m to S$364m, or S$1,200psf during 2Q09. Following this, CapitaLand will be launching its former Farrer Court site in Farrer Road in 1Q10 which it acquired for a record S$1.3b including development charges
which works out to around S$762psfppr.


Valuation/Recommendation
With a stronger balance sheet, CapitaLand is well positioned to capitalise on the improved market sentiment. Maintain BUY with a target price of S$4.90, pegged at a 20% premium to our 2009 RNAV of S$4.08/share.
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发表于 9-9-2009 10:09 AM | 显示全部楼层
我也看好这支股。爱死他了。

建议3.50-3.60买进。
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发表于 9-9-2009 07:45 PM | 显示全部楼层

回复 69# mhlexpress 的帖子

上好快哦...有进票吗? 爱人不等你.....
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发表于 10-9-2009 09:23 PM | 显示全部楼层
我想买这只股。。。请给我一个机会吧~
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发表于 10-9-2009 10:21 PM | 显示全部楼层

回复 70# slimerlth 的帖子

3.65的价位进了。
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发表于 11-9-2009 08:49 AM | 显示全部楼层

回复 72# mhlexpress 的帖子

恭喜哦.....什么时候要卖掉爱人?
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发表于 11-9-2009 10:32 AM | 显示全部楼层

回复 71# PaPerSoldier 的帖子

等他掉回 3.80 以下,肯定再买入然后抱死他谈几年恋爱。。。
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发表于 11-9-2009 10:44 AM | 显示全部楼层

回复 74# babyfish 的帖子

我等着你回来~~~我等着你回来~~~
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发表于 13-9-2009 06:04 PM | 显示全部楼层
By BNP PARIBAS, September 9
Pang Chin Hong, PhD

Singapore Property - 13 bids in the latest land battle

CapitaLand, REDUCE - Target price: S$3.00
City Developments, BUY - Target price: S$10.83
Fraser & Neave, BUY - Target price: S$4.42
Keppel Land, REDUCE - Target price: S$1.90
GuocoLand,HOLD - Target price: S$2.15
SC Global, BUY - Target price: S$1.65

NEUTRAL on sector and favour mass-market plays.
City Developments and Fraser & Neave remain our sector key picks.
CapitaLand and Keppel Land are now trading at unwarranted valuations last seen in 2004-07.

• 13 bids were received for the Dakota Crescent site tender; UOL emerged as the top bidder at SGD508 psf ppr.
• 19 sites are still available under the 2H09 Government Land Sales Program; expect more sites to be tendered.
• Expect the mass-market segment to remain resilient – BUY on City Developments and Fraser & Neave.

Dakota Crescent attracted 13 bids; top bidder - UOL
The most awaited site tender for Dakota Crescent has just closed. The 99-yr site has attracted 13 bids, mainly from listed developers, due to its large site with 647,599 sq ft of gross floor area or 550 units (Exhibit 1). There was strong competition among the heavyweights like UOL (SGD508 psf ppr, highest bidder), GuocoLand (SGD482 psf ppr), F&N (SGD462 psf ppr), Hong Leong Group-Led JV (SGD425 psf ppr), MCL Land (SGD420 psf ppr), Ho Bee-NTUC ChoiceHomes JV (SGD418 psf ppr), Keppel Land (SGD379 psf ppr), Allgreen (SGD343 psf ppr) and Lippo (SGD247 psf ppr). Others include smaller developers and contractors, i.e. Sim Lian, Hoi Hup-Sunway, TeamBuild and EC Prime.

Bidding prices still sensible; est. 12% margin
UOL Group has emerged as the top bidder for the site with a tender price of SGD508 psf ppr. This is lower than the price paid by Ho Bee-NTUC ChoiceHomes JV for an adjacent site back in June 2007 at SGD524 psf ppr. Pricing in the construction and miscellaneous costs, we expect the breakeven to be SGD850 psf. By benchmarking it against the adjacent project, Dakota Residences, we believe the average selling price could be SGD950 psf in today's market, which yield a pre-tax margin of 12%. We view the bids submitted by developers as sensible, between SGD247 and SGD508 psf, although most are hungry for sites.

The race has just begun; 19 GLS sites still available
The battle between developers for sites started last month, when a stiff bidding ensued for the Chestnut Avenue site sale. This is after the strong residential sales that we have seen in the past 6 months (10,117 units sold YTD), which has depleted the land bank of many developers. Nevertheless, there are still 19 sites available for tender under the 2H09 Government Land Sales (GLS) program. Furthermore, the government is likely to re-introduce the Confirmed List for 1H10 (Exhibits 3-4).

Favour mass-market plays; BUY City Dev’t and F&N
We believe sales will remain strong for the rest of this year, as crowds still throng to showflats. BUY City Developments (TP: SGD10.83) and Fraser and Neave (TP: SGD4.42) due to its large exposure to the massmarket segment, which should remain resilient.
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发表于 13-9-2009 07:57 PM | 显示全部楼层
前几天刚刚放了3.94  等下一个买进的机会
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发表于 13-9-2009 10:51 PM | 显示全部楼层
这只股已经没有 fund mgr 要炒了。。。烂 股一只, 买 bkt sembawang 还好。。
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发表于 14-9-2009 09:17 AM | 显示全部楼层
buy bukit sembawang better.......
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发表于 14-9-2009 01:14 PM | 显示全部楼层
原帖由 babyfish 于 11-9-2009 10:32 AM 发表
等他掉回 3.80 以下,肯定再买入然后抱死他谈几年恋爱。。。


今天掉回 3.80 以下了,你进了吗?
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