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DBS
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trademaster
Supreme |
03-Apr-2020 11:14
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not good news in times like this...wil they cut dividends as well?
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pasttime
Supreme |
03-Apr-2020 10:43
Yells: "gold silver are real money. not others iou." |
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analyst view is projecting the worse consequences. 1. if in 6 months the situations cannot recover, people will find ways to live around the situations. 2. by then those business that cannot survive will fold up. if they fold immediately it will not be easy to rent out the premise in current situaions. so what is the difference between empty locations and bad debts. at least if tenants continue to operate, the place does not look deserted. and only a percentage will be bad debts. not total empty. 3. business that can survive in 6 months is more likely to survive.seldom will a retail business give up a location unless it really really cannot make money. most of the current reits prices already price in bad consequences. any time the virus problem can return to within control. like china is now returning to normal after 3-4 months. opportunity or risk ? dyodd |
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Joelton
Supreme |
03-Apr-2020 09:35
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DBS says Singapore retail Reits ' in for rough ride'THU, APR 02, 2020 - 4:04 PM DBS Group Research is expecting a tougher operating environment for retail real estate investment trusts (Reits) in Singapore, citing rising consumer risk aversion and tighter government measures amid the Covid-19 outbreak. The research team has downgraded its calls for Frasers Centrepoint Trust, CapitaLand Mall Trust and Starhill Global Reit to " hold" , while its rating for SPH Reit now stands at " fully valued" . Within the industry, its preferred picks include Mapletree Commercial Trust (MCT) which it has a " buy" call on, along with a target price of S$1.90, given its diversified exposure. The research team also has a " buy" rating on Lendlease Global Commercial Reit, with a target price of S$0.94 citing its " bombed out valuation" , DBS analysts Derek Tan and Rachel Tan wrote in a sector report released on Thursday. As at 3.39pm on Thursday, units in MCT were trading at S$1.62, down S$0.13 or 7.4 per cent, while units in Lendlease Global Commercial Reit were trading at 48.5 Singapore cents, down 3.5 cents or 6.7 per cent. " We turn cautious on the retail S-Reit (Singapore Reit) sector in view of unprecedented tightening measures introduced by the government. With a focus on conserving cash due to worsening operational outlook, we anticipate potential cuts in payout ratios (from 100 per cent to 90 per cent) for most retail S-Reits and cut our distribution per unit to the tune of 14 per cent to 27 per cent, on the back of rental rebates offered by landlords to affected tenants," the analysts noted. That said, they are also of the view that the balance sheets of these S-Reits should be able to withstand up to a 50 per cent drop in cash flows. DBS added that further tightening rules and advisories against travelling to shopping malls and suspension of entertainment outlets or tuition centres will have a significant near-term impact on retail landlords. Meanwhile, the potential release of a Covid-19 temporary measure Bill which absolves tenants of their rental obligations for up to six months will introduce further uncertainty to an already challenged retail sector, the analysts said. " The risk from the Bill is that if tenants/businesses go bust after six to 12 months even with rent deferment, landlords will be faced with a potential spike in bad debts. This is a factor we believe has yet to be addressed, to be fair to landlords who have their own obligations to fulfill," DBS noted. " While near-term cash flows may be hit, we estimate that interest coverage ratios of most retail S-Reits will remain above bank covenant levels of 1.5 to two times even if earnings before interest, taxes, depreciation and amortisation tumbles by 50 per cent," wrote DBS analysts Mr Tan and Ms Tan. https://www.businesstimes.com.sg/companies-markets/brokers-take-dbs-says-singapore-retail-reits-in-for-rough-ride |
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Joelton
Supreme |
03-Apr-2020 09:30
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Reits sold down as investors fret over challenges facing landlordsFRI, APR 03, 2020 - 5:50 AMDBS Research says new legislation to help tenants will introduce further uncertainty in retail sector REAL estate investment trusts took a tumble on Thursday, with retail Reits bearing the brunt of the selling after the government announced it will legislate to ensure that landlords pass on in full property tax rebates to their tenants. Among those badly hit were Frasers... https://www.businesstimes.com.sg/companies-markets/reits-sold-down-as-investors-fret-over-challenges-facing-landlords |
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SgYuan
Supreme |
03-Apr-2020 08:05
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ew 1782?1845 w2?
w1 63 - if w1 end 1845 then w2 39 tgt 1806 dn 61.8% of 63 - if this break then likely wave c dn continue w3 102 tgt 1908 up 161.8% of 63 w4 w5
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Justice888
Supreme |
03-Apr-2020 08:04
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Those not vested just stay sideline . Don?t Long and short . Market is abit dysfunction now ...
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AhLiang
Elite |
03-Apr-2020 08:00
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Moody downgraded Sg banks to negative. | ||||
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Knightmyst
Member |
03-Apr-2020 07:47
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I thought you are trademaster. You already what to do. Banks really suck big time at recession and since this is the deepest ever recession, they will be Super Super bad. It will take Years and years Of sideway movement for dbs | ||||
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trademaster
Supreme |
03-Apr-2020 00:02
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next is w2 retest 1782? if break this support how far low can it go for the next suppor? Tks
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SgYuan
Supreme |
02-Apr-2020 20:06
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mistake
ew 1782 ?1845 w2? - the rest all can be projected
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TA_Expert
Supreme |
02-Apr-2020 19:42
Yells: "The World has changed" |
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DBS is still super strong. Who can fight with the bank to depress the share price? Looked like $16.65 was the bottom as DBS does not want its share price to tumble. They have the financial means to buy up its shares to support it. |
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Starship
Supreme |
02-Apr-2020 19:27
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" Rebellion" after HSBC made to cancel dividend............ HSBC Div Cut Displeases Board, Shareholder who Want HQ Back to HK 2020/04/02 11:15 The Bank of England' s pressure on HSBC HOLDINGS to cancel dividend payout has prompted calls among some board members and top executives for reconsidering the relocation of the London headquarters, reported Financial Times. One director found it terrible for the BoE to put a gun to the head of HSBC' s board, saying dividend payment " should be a decision for the board to take" . The group should not stay in the UK given more calls for redomiciling, the director added. One director found it terrible for the BoE to put a gun to the head of HSBC' s board, saying dividend payment " should be a decision for the board to take" . The group should not stay in the UK given more calls for redomiciling, the director added. |
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SgYuan
Supreme |
02-Apr-2020 19:20
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last ew
w5 tgt 1951 next tgt w5 tgt 1972 - px hit 1962 and wabc start - how far wabc? 4h chart ew ew 1665 1962 w2? w1 297 w2 184 tgt 1778 dn 61.8% - px hit 1782 - if this supported w3 cm w3 kiv due to too high - see smaller wave today 5min chart very powerful - macd make a fast uturn up at 925 and cut up - macd 5,35,5 I use - and steadily trend up - switch to 30m chart - the macd gap widen slowly - u can at 1630 macd gap reducing px 1844 - 30min cloud resistance 1847 - about time to start w2 ew 1665 ?1845 w2? - the rest all can be projected |
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Starship
Supreme |
02-Apr-2020 19:14
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HKMA: Unnecessary Now to Ask HK Banks Halting Div, Shr Buyback 2020/04/02 08:14 While HSBC HOLDINGS and STANCHART had announced cancellation or reduction of dividend at the request of the UK PRA, HKMA' s spokesman responded that they took note of some overseas regulatory authorities' request on banks to halt dividend pay and share buyback, quoted Hong Kong Economic Journal. Yet, the HKMA' s spokesman said it is unnecessary to ask Hong Kong' s banks to mirror the act as local banking system maintains sufficient capital level and the capability to provide stable credits for the economy. |
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morgany
Veteran |
02-Apr-2020 15:56
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I agrees with your target, I am too waiting for this level at $15...nothing higher, as this is the level of eventfull era back in 2010...just wish to ride the next wave up to $40..
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Manstock
Member |
02-Apr-2020 15:43
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Thanks for the jnfo
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ahhuat08
Elite |
02-Apr-2020 15:43
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nope just deferred will be announced once the agm date is fixed.
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Manstock
Member |
02-Apr-2020 15:41
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Sorry, did DBS cancel the dividend? Or my app got issue? | ||||
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john_ric
Supreme |
02-Apr-2020 09:14
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I tend to agree with you as the economy situation is very clear now. But I still will nimble at $15. And below. Like $13.
At that price bank will need a right issue as it will be under massive pressure.
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guavaMoment
Senior |
02-Apr-2020 08:22
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To be clear, I have no vested positions and defintely am not a shortist. I personally do not want to participate in shorting as someone has to be hurt in order for shortist to gain. But I feel DBS and other banks will see pressures going forward. All banks are under pressure to offer cheap loans to save industries and jobs. This means this year ahead will be super under-productive. Scenario like these, how to not to expect share prices to test new lows ? DBS $15.00 ? I think better wait below $15.00 if you want to test the water again.
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