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

臥龍先生

Capitaland Ltd (CapLand) announced yesterday that it had obtained approval from SGX to list its wholly-owned subsidiary CapitaLand Retail Limited. l With the listing, CapitaLand Retail Limited will change its name to CMA. CapLand will sell down part of its stake in the IPO but still retain majority control. CapLand’s management has guided for stakes sale in the region of 30% - 40%.

l Prior to the IPO, CMA will conduct an asset swap and divestment with SZITIC, a joint venture partner in China, to assume full control of 22 Wal-Mart anchored malls. In addition, CMA will also buy CapLand’s existing stakes in exempt funds, REITs and 15% of issued preference shares in Raffles City China Fund Ltd. CapLand and its related companies will also capitalise their various inter-company loans to CMA, resulting in allotment of new CMA shares to CapLand.

l Assuming the corporate re-organisation is completed, based on 1H 2009 unaudited accounts - CMA’s effective interest in the portfolio will be about S$7bil with its NAV at S$5.3bil. l CapLand is targetting on the retail mall concept catching on in China given that organised trade only makes up 20% of total retail sales and Asia remains a key focus for increase in retail space per capita.

l We think the corporate re-organisation is a move by CapLand to unlock the value of its unlisted retail assets by injecting these assets into a separate listed vehicle.

l CapLand is likely to demand at least book value if not higher for CMA, in our opinion. Based on NAV of S$5.3bil, CapLand will generate cash proceeds of S$1.6bil - S$2.1bil assuming 30% - 40% divestment of its stakes in CMA.

l CapLand’s management has indicated that there may be a special dividend to existing shareholders post CMA’s IPO, Based on 30% divestment of its stakes in CMA, shareholders may get to enjoy a special dividend of S$0.08/share if CapLand retains 80% of divestment proceeds. This would be almost double dividends paid out when CapLand recorded a significant revaluation surplus on its investment
properties in 2007 - 2008.

l Our estimated GAV stands at S$26.1bil, in line with pro-forma total assets figures after the proposed listing. We believe CapLand will be able to attain at least book value for its divestment of CMA given its strong branding and wide investment reach. Having removed the 20% discount to our estimated RNAV, we have priced CapLand at parity and obtained an estimated RNAV of S$4.77/share. We have upgraded
our rating from HOLD to BUY.

臥龍先生

原帖由 acydanny 于 13-10-2009 12:43 AM 发表
各位 现在 3.990 想进现在是时候吗？　建议什么价钱进场才适合？ 谢谢 建议。

那您認為現在的價錢對您來說是合理嗎 ?

nick3384me

CAPITALAND  SGD 4.110 +0.180  +4.580%  

PaPerSoldier

nick也有买吗？

nick3384me

原帖由 PaPerSoldier 于 14-10-2009 06:37 PM 发表
nick也有买吗？

资本很少，只是赚点零用钱

今天不懂会冲上S4.20

PaPerSoldier

我也是小小股，大家心照。
我是拿来长期投资的。你呢?

nick3384me

原帖由 PaPerSoldier 于 15-10-2009 11:22 AM 发表
我也是小小股，大家心照。
我是拿来长期投资的。你呢?

还在观察中，可作中长期的投资。

uu909

在$3.67时买了2lots..
现在卖大概会赚$800左右，想着要hold或卖。。
各位大大看法如何？还会继续升吗？
个人想要继续hold着。。短期内应该不会跌吧。。

PaPerSoldier

你是做长期投资？还是短期？
很容易回答你。。。长期：长守，短期：达到目标就卖
不是吗？

臥龍先生

原帖由 uu909 于 15-10-2009 10:13 PM 发表
在$3.67时买了2lots..
现在卖大概会赚$800左右，想着要hold或卖。。
各位大大看法如何？还会继续升吗？
个人想要继续hold着。。短期内应该不会跌吧。。

如果對公司的未來有信心,  投資的錢沒有急用.  那麼也許可以繼續持有 或者繼續買進

財神

我支持capitaland。
我手上有3lot=S$3.78的。

vflow_00

原帖由 acydanny 于 13-10-2009 12:43 AM 发表
各位 现在 3.990 想进现在是时候吗？　建议什么价钱进场才适合？ 谢谢 建议。

可以考虑 $5.00 的时候

財神

原帖由 vflow_00 于 16-10-2009 18:04 发表


可以考虑 $5.00 的时候

我想会上到$8左右。

uu909

原帖由 臥龍先生 于 16-10-2009 11:09 AM 发表


如果對公司的未來有信心,  投資的錢沒有急用.  那麼也許可以繼續持有 或者繼續買進

hmm..手头上的资金不多。。
其实刚开始学习投资，手头上只持有cityspring和capitaland。。

个人其实蛮看好capitaland ,无奈手头不够钱继续买入。。
现在只是有点犹豫不决，
不知该积极的买入卖出以累积更多的资本来投资或该慢慢的持有一些优质股。。
等待将来更好的的时机才卖出。。

普罗旺斯

原帖由 臥龍先生 于 9-10-2009 08:50 AM 发表
Capitaland Ltd (CapLand) announced yesterday that it had obtained approval from SGX to list its wholly-owned subsidiary CapitaLand Retail Limited. l With the listing, CapitaLand Retail Limited will ch ...

请问大概几时有IPO呢？要留一些来买它了！

PaPerSoldier

大概是今年底明年一月吧。。。
要准备很多钱一下。。。（对我来说啦）

nick3384me

230 GMT [Dow Jones] CapitaLand (C31.SG) down 2.5% at S$4.32, snapping winning streak of last three sessions, on broad market pullback. Despite current retreat, stock still +19.1% since beginning October, based on yesterday's closing price, vs STI's 1.6% gain over same period, underpinned by expectations of special dividend from proposed listing of CapitaMalls Asia by end-2009. Relatively light volume suggests selling activity subdued, possibly limited by sharp improvement in core 3Q09 results - revenue +75.2% on-year, +99.8% on-quarter at S$1.04 billion, while earnings +127% on-quarter at S$281.3 million (excluding fair value losses and impairments), although down 32.9% on-year due to absence of divestment gains. "CapitaLand delivered a good set of results for 3Q09," says CIMB; "we remain excited about the prospects of a CMA listing and its potential positive impact on CapitaLand." Upgrades to Outperform from Neutral, raises target price to S$5.65 from S$3.90, implying 2X P/B. Orderbook quotes suggest stock unlikely to test 5-day moving average, last at S$4.08. (FKH)

thomas8882

请问经融风暴前的股价是多少？我今天想买。。做长期头资可以吧？

无与伦比的美丽

我在举棋不定，想等下买 2 lots.....请问值得收吗？

臥龍先生

原帖由 thomas8882 于 28-10-2009 01:45 PM 发表
请问经融风暴前的股价是多少？我今天想买。。做长期头资可以吧？

我想這要看你的長期是多長了... 一兩年,  三到五年還是十年 ?