| Latest Forum Topics / APAC Realty Last:0.58 -- |
 Post Reply
|
|
Fibretech CEO - Next 3 yrs result will be better
|
|||||
|
Joelton
Supreme |
06-Aug-2025 10:35
|
||||
|
x 0
x 0 Alert Admin |
Lim & Tan starts APAC Realty at &lsquo accumulate&rsquo , expecting FY2025 profits to surge 90% y-o-y
Lim & Tan Securities has initiated coverage on property agency APAC Realty with an &ldquo accumulate&rdquo rating and 66-cent target price. Analyst Chan En Jie thinks APAC Realty is set to deliver more than 90% growth in FY2025 profits and with a &ldquo generous&rdquo 79% payout ratio, the dividend yield is &ldquo attractive&rdquo at 6.3%.
APAC Realty is the parent company of ERA Realty, the second-largest real estate agency in Singapore with exposure to 40% of total home sales.
The bulk of APAC Realty&rsquo s revenue comes from its real estate brokerage services segment, says Chan. The biggest contributor is private secondary resale transactions, at 44% of brokerage value. This is followed by leasing and HDB resale, private primary residential, and lastly, commercial resale and leasing.
While private primary residential (new home sales) only represent 15% of APAC Realty&rsquo s transaction value, this segment contributes the healthiest margins due to differences in the commission structure, notes Chan.
In fact, new homes sales have historically been more profitable for APAC Realty with gross margins about triple that of the resale segment, he adds.
In an Aug 5 report, Chan says strong new home sales will boost APAC Realty&rsquo s bottomline.
While new home sales for 9M2024 were lacklustre due to limited launches and a high interest-rate environment, 4Q2024 saw a return of pent-up demand with easing rates. With 1Q2025 also latching onto the positive sales momentum, these two quarters combined have already hit 105% of FY2024 total sales volume, says Chan.
&ldquo As there is a three- to- six-month revenue recognition lag before new home brokerage sales can be recognised, we expect to see an earnings rebound in FY2025, in particular the first half,&rdquo says Chan.
While APAC Realty has not disclosed the date of its results release for 1HFY2025 ended June 30, the Mainboard-listed company has reported first-half earnings between Aug 8 and Aug 14 over the past five years.
Project pipeline
Chan also points to a &ldquo healthy&rdquo and &ldquo robust&rdquo pipeline of upcoming projects in 2H2025, with some 7,300 new units expected. This brings total launches for 2025 to 13,000 units, some 70% higher y-o-y.
Despite higher Seller&rsquo s Stamp Duty (SSD) rates announced in July, demand continues to be propped up by genuine buyers and lower interest rates, says Chan. &ldquo A high and steady level of Government Land Sales (GLS) sites for 2025 will also bode well for residential supply in the coming years.&rdquo
Generous payouts
Turning to financials, Chan says APAC Realty&rsquo s total debt of $40.1 million is &ldquo well-supported&rdquo by its &ldquo solid&rdquo cash position of $40 million.
APAC Realty has made profits and paid dividends consistently since its IPO in 2017, says Chan. &ldquo APAC Realty has the capacity to reward shareholders, as shown by its commitment through a dividend payout policy of between 50%-80% of net profits,&rdquo he adds. &ldquo Its average payouts have been more generous at 75.5% since IPO.&rdquo
In fact, investors who have held on to their shares since APAC Realty&rsquo s 66-cent IPO price would have gained a total of 32.35 cents worth of dividends per share over the past eight years, writes Chan.
In recent years, payout has ranged within the 75%-80% levels, says Chan. &ldquo Riding on robust new home sales and steady resale transactions, we forecast earnings growth of 96% and 14% y-o-y for FY2025 and FY2026.&rdquo
Share buybacks to fulfill the 4 million vested shares annually to key personnel could also provide a form of share price support, he adds.
According to Chan, APAC Realty trades at 14.7 times forward price-to-earnings (P/E) and 1.3 times price-to-book (P/B), with a 6.3% dividend yield.
Aside from Lim & Tan, RHB Bank Singapore has been hiking its target price on APAC Realty from the start of the year, following its upgrade of Singapore' s real estate sector to &ldquo overweight&rdquo .
|
||||
| Useful To Me Not Useful To Me | |||||
|
SmallSmall
Supreme |
05-Aug-2025 16:41
|
||||
|
x 0
x 0 Alert Admin |
Breakout liao $0.595....But still a long way to catch up with Propnex | ||||
| Useful To Me Not Useful To Me | |||||
|
|
|||||
|
Alignment
Elite |
22-Jul-2025 09:15
|
||||
|
x 0
x 0 Alert Admin |
Morgan Stanley Private Equity bought their majority stake at 61 cents in 2022. Assuming they have a 8% per annum hurdle rate for their carry to kick in that means to get any carry at all they need to make the share price get to 83 cents by early next year. | ||||
| Useful To Me Not Useful To Me | |||||
|
wehuattogether88
Supreme |
21-Jul-2025 10:04
|
||||
|
x 0
x 0 Alert Admin |
Yeah, APAC still lagging way way behind
|
||||
| Useful To Me Not Useful To Me | |||||
|
SmallSmall
Supreme |
21-Jul-2025 09:33
|
||||
|
x 0
x 0 Alert Admin |
This one also following the footsteps of PropNex. PropNex already historical high $1.35 This one still lagging. Used to trade way way higher...From chart think it went above $1 before
|
||||
| Useful To Me Not Useful To Me | |||||
|
|
|||||
|
Alignment
Elite |
28-Jun-2025 23:16
|
||||
|
x 0
x 0 Alert Admin |
Look at new home sales - 2025 much higher than 2024. | ||||
| Useful To Me Not Useful To Me | |||||
|
wehuattogether88
Supreme |
10-Jun-2025 13:24
|
||||
|
x 0
x 0 Alert Admin |
Laggard Realty Play With Solid Foundation, Yield, And Growth Pipeline With a 43-year track record, APAC Realty is a leading real estate brokerage in Asia Pacific. While 2024 core net profit fell, 4Q24 marked a clear inflection point as lower interest rates and pent-up demand spurred a rebound in its project activity. Its robust pipeline and strong early-25 sales reinforce earnings visibility. Its 4.6% 2024 yield and recent share buybacks also reflect management&rsquo s confidence. Trading at just 10x 2026F PE vs PropNex&rsquo s 14x, the stock offers potential valuation upside. |
||||
| Useful To Me Not Useful To Me | |||||
|
Joelton
Supreme |
28-Feb-2025 11:15
|
||||
|
x 0
x 0 Alert Admin |
Apac Realty&rsquo s H2 profit halves to S$3.1 million as new home sales drop
The company&rsquo s board declares a final dividend of 1.2 cents per share
REAL estate services player Apac Realty posted a 53.6 per cent fall in net profit to S$3.1 million for the six months ended Dec 31, 2024, hit by a fall in new home sales.
The company&rsquo s revenue for the half-year dipped 0.6 per cent to S$295.9 million, on the back of a 30.5 per cent drop in revenue from new home sales to S$50 million.
There was a low number of new project launches in the first nine months of 2024, noted Apac Realty chief executive Marcus Chu in a press statement on Thursday (Feb 27).
Nevertheless, Apac Realty partly offset the drop in total revenue in the second half of the 2024 financial year with a 9.4 per cent rise in revenue from the resale and rental of properties to S$241.5 million.
The company&rsquo s board declared a final dividend of 1.2 cents per share, slightly lower than last year&rsquo s final dividend of 1.4 cents per share. The latest dividend will be paid out on May 8.
KEY POINTS: H2 FY2024
Revenue: S$295.9 million
Net profit: S$3.1 million
Final dividend: 1.2 cents per share
Operating expenses for H2 were down 6.4 per cent to S$19.4 million. Personnel costs were down 6.7 per cent to S$9.8 million with the lower headcount in Singapore. Marketing and promotion expenses also fell by 31.1 per cent to S$2 million, on the back of lower recruitment, advertising and brand promotion costs.
For the full year, Apac Realty posted a 38.8 per cent fall in net profit to S$7.2 million, while FY2024 revenue rose 0.7 per cent to S$561 million.
Chu noted that there are 29 planned new residential launches this year, representing more than 15,000 new homes.
But with the slower pace of interest rate cuts by the US Federal Reserve, he expects the Singapore property market &ldquo to continue showing signs of moderation&rdquo in 2025.
|
||||
| Useful To Me Not Useful To Me | |||||
|
|
|||||
|
positivity88
Veteran |
17-Jan-2025 09:21
|
||||
|
x 0
x 0 Alert Admin |
Hidden Dragon about to be awaken.. 1) property transaction volumes to rise in 2025. 2) greatly supressed for a long time 3) current valuation feels like investors are only taking into account Singapore Sales when compared to Propnex valuation 4) Majority stake holder Morgan Stanley wanted to privatise previously at 0.57 5) Catalyst event if MS intends to spinoff franchises since its not properly valued into the stock price currently the list goes on. my personal point of view and am vested. DYODD |
||||
| Useful To Me Not Useful To Me | |||||
|
wehuattogether88
Supreme |
08-Jan-2025 14:19
|
||||
|
x 0
x 0 Alert Admin |
This Apac Realty lousy stock, does not move much until they declare big dividends. | ||||
| Useful To Me Not Useful To Me | |||||
|
SmallSmall
Supreme |
08-Jan-2025 13:16
|
||||
|
x 0
x 0 Alert Admin |
DBS upgrades PropNex and APAC Realty to &lsquo buy&rsquo amid strong pipeline of new launches in 2025Tan and Foo have increased their target price estimates for both PropNex and APAC Realty to $1.15 and 50 cents from 95 cents and 48 cents respectively.Felicia TanTue, Jan 07, 2025 &bull 11:57 AM GMT+08 &bull &bull 3 min read
&ldquo We anticipate a rebound in overall volumes in 2025, driven by new sales returning to [around] 8,000-8,500 units annually," say DBS Group Research analysts Derek Tan and Tabitha Foo. Photo: Bloomberg
DBS Group Research has upgraded its calls on PropNex and APAC Realty to &ldquo buy&rdquo from &ldquo hold&rdquo as both counters are tipped to benefit from a strong pipeline of new launches in 2025. PropNex is the largest property agency in Singapore with around 12,000 agents accounting for 34% of the country&rsquo s market share. APAC Realty is one of the leading players in the real estate brokerage industry. It has a presence in 17 Asia Pacific (APAC) countries and one of the largest brand footprints in Asia through its ERA franchise network. &ldquo We anticipate a rebound in overall volumes in 2025, driven by new sales returning to [around] 8,000-8,500 units annually. This is supported by stable property prices, with fluctuations expected in the range of +1% to +2%,&rdquo say Derek Tan and Tabitha Foo in both reports dated Jan 6. The rebound will largely be driven by three main factors: lower mortgage rates homeowners, upgraders and permanent residents buying homes for themselves as well as the introduction of a wider array of projects with strong attributes. In 2025 to 2026, the analysts also see private resale transactions remaining &ldquo stable&rdquo at 13,500 to 14,000 units. Sell-through rates could average between 30% to 50% during launch weekends, which could support a gradual turnaround in profitability for both agencies. &ldquo The group&rsquo s market share in private new sales and resale has increased to 56%-60%, significantly higher than pre-pandemic levels,&rdquo note Tan and Foo for PropNex specifically, adding that these figures indicate that one in every two sales is made by a PropNex agent. With this in mind, a potential increase in market share as PropNex adds to its sales force, would present upside potential to the analysts&rsquo estimates. Tan and Foo have increased their target price estimates for both PropNex and APAC Realty to $1.15 and 50 cents from 95 cents and 48 cents respectively. Their new target price for PropNex is pegged to 15 times the company&rsquo s P/E on rolled-forward and revised FY2025 earnings. PropNex&rsquo s FY2025 earnings estimates were lowered to account for lower overall sales and margins assumptions. &ldquo We have moved the multiple towards +1 standard deviation (s.d.) (versus [a] five-year average of 12 times), as the market and the company&rsquo s profitability are at an inflexion point,&rdquo the analysts write. &ldquo [PropNex&rsquo s] FY2025/FY2026 dividend yield of 7.7% (80% payout ratio) is attractive, with potential upside if the group decides to distribute its cash reserves (16 cents per share) to shareholders.&rdquo Meanwhile, APAC Realty&rsquo s new target price represents a higher P/E multiple of 13 times in line with its four-year historical average on rolled-forward FY2025 earnings. As at 11.57am, shares in PropNex and APAC Realty are trading at 95 cents and 39.5 cents respectively. |
||||
| Useful To Me Not Useful To Me | |||||
|
governor
Veteran |
22-Nov-2024 11:13
|
||||
|
x 0
x 0 Alert Admin |
Wolf Money(APAC Realty sold)
https://lonewolfinvestor.blogspot.com/2024/11/wolf-moneyapac-realty-sold.html
|
||||
| Useful To Me Not Useful To Me | |||||
|
|
|||||
|
kepoh88
Veteran |
19-Nov-2024 00:20
|
||||
|
x 0
x 0 Alert Admin |
OKAY....Support you 打 倒 propnex. | ||||
| Useful To Me Not Useful To Me | |||||
|
governor
Veteran |
18-Nov-2024 20:15
|
||||
|
x 0
x 0 Alert Admin |
Wolf Money(APAC Realty)https://lonewolfinvestor.blogspot.com/2024/11/wolf-moneyapac-realty.html |
||||
| Useful To Me Not Useful To Me | |||||
|
Joelton
Supreme |
04-Oct-2024 12:26
|
||||
|
x 0
x 0 Alert Admin |
APAC Realty signs MOU with NexUS Global Realty to expand cross-border real estate transactions
Real estate services provider APAC Realty CLN has signed a memorandum of understanding (MOU) with US-based NexUS Global Realty to expand cross-border real estate transactions.
According to an Oct 3 release, the collaboration also aims to &ldquo strengthen relationships between agents and investors while creating new opportunities for clients in both regions&rdquo .
Currently, NexUS Global Realty serves as the gateway office of ERA Franchise Systems, a global franchise organisation that oversees and manages the ERA brand. The office also facilitates transactions and provides services to agents, clients, and offices in Asia and North America.
Under the MOU, the group says it will utilise APAC Realty&rsquo s regional master franchise rights for ERA across 17 countries and territories in Asia-Pacific, which &ldquo strengthens the business lines for both parties in establishing a framework to enhance cross-border real estate transactions and service delivery&rdquo .
Marcus Chu, CEO of APAC Realty, says: &ldquo Our partnership will enable us to offer premium solutions to homeowners and agents from both markets, ensuring a seamless navigation of international real estate transactions by enhancing the overall experience.&rdquo
Larry Eu, vice-chairman of NexUS Global Realty, adds, &ldquo We see tremendous potential in connecting the vibrant markets of Asia-Pacific with the U.S. By serving as a trusted gateway, we leverage our unparalleled real estate expertise and proven investment methodologies to provide value- added services that ensure smooth cross-border transactions.&rdquo
The MOU is also expected to leverage NexUS Global Realty&rsquo s network of trusted advisors across 50 states in the US to facilitate property transactions, connecting US-based buyers with APAC Realty&rsquo s property portfolio.
According to the group, the partnership will enable APAC Realty to utilise its network of clients and agents to &ldquo connect high-intent buyers seeking to invest in the US with trusted and motivated agents&rdquo .
The partnership also includes educational webinars focused on cross-border transactions and investment strategies, offering valuable insights for ERA Asia Pacific agents and clients. Both groups are set to utilise innovative technology platforms to ensure smoother processes between regions.
|
||||
| Useful To Me Not Useful To Me | |||||
|
Joelton
Supreme |
09-Aug-2024 11:43
|
||||
|
x 0
x 0 Alert Admin |
Apac Realty H1 net profit falls 18.7% to S$4.1 million
Board is proposing an interim dividend of 0.9 Singapore cent per share for the period
PROPERTY group Apac Realty : CLN -1.28%, which operates under the ERA brand, posted an 18.7 per cent drop in net profit to S$4.1 million for the six months ended Jun 30, down from S$5 million in the year-ago period.
This was mainly due to cost of services outpacing revenue growth in the period.
Earnings per share for H1 stood at 1.15 Singapore cents, down from 1.41 Singapore cents previously.
Total revenue rose 2.1 per cent to S$265.2 million in the period, while cost of services gained 3.3 per cent to S$240.7 million. In particular, the group saw a 21 per cent fall in new home sales to S$57.9 million in H1, from S$73.3 million previously.
&ldquo The rate of increase in cost of services is higher than the rate of increase in revenue because the margins from resale and rental transactions are lower than those from new home sales transactions,&rdquo Apac Realty said in a bourse filing on Thursday (Aug 8).
An interim dividend of 0.9 Singapore cent per share was declared, compared with 1.1 Singapore cents per share in the year-ago period.
The group saw a &ldquo historic low&rdquo in new project launches since 2004, with 1,938 units launched during the period.
&ldquo The Singapore property market is continuing to exhibit signs of moderation in the midst of strong headwinds from cooling measures, slower economic sentiment, high interest rates and fewer new home launches,&rdquo said Apac Realty chief executive Marcus Chu.
&ldquo For the next five months of the year, we expect homebuying momentum to pick up, on the back of 14 upcoming new home projects comprising more than 6,700 new homes,&rdquo he added.
|
||||
| Useful To Me Not Useful To Me | |||||
|
Alignment
Elite |
26-Feb-2024 13:32
|
||||
|
x 0
x 0 Alert Admin |
2024 prospects looking stronger with the new property pipeline much bigger than in 2023. The recent Singapore budget also helpful. | ||||
| Useful To Me Not Useful To Me | |||||
|
Joelton
Supreme |
24-Feb-2024 19:17
|
||||
|
x 0
x 0 Alert Admin |
Apac Realty H2 profit down 31.4% to S$6.8 million
APAC Realty posted a 31.4 per cent drop in net profit to S$6.8 million for the six months ended Dec 31, 2023, from S$9.9 million in the corresponding period the year before.
This comes as its business in Vietnam faced a challenging year in FY2023 due to the economic slowdown, the real estate services provider said in a regulatory filing on Friday (Feb 23).
The group added that new home supply and absorption rates stayed low in the year as developers delayed their project launches. However, it expects the Vietnam property market to gradually recover in FY2024 with more project launches.
Earnings per share stood at 1.91 Singapore cents for the half year, down from 2.78 Singapore cents the previous year.
Revenue for the half year fell 17.9 per cent to S$297.6 million, from S$362.4 million a year earlier. This was partly due to lower real estate brokerage fees and related services as the number of property transactions completed fell during the period.
A final dividend of 1.4 Singapore cents per share was proposed for the half year, down from 2.75 Singapore cents the year before. Once approved by shareholders at the upcoming annual general meeting, the dividend will be paid on May 8, after books closure on Apr 26.
Together with the interim dividend of 1.1 Singapore cents per share paid out on Sep 8, 2023, the total dividend of 2.5 Singapore cents for FY2023 will amount to a dividend payout ratio of 78 per cent, said Apac Realty.
For the full year ended Dec 31, 2023, net profit was down 55.7 per cent to S$11.8 million, and revenue was down 21 per cent to S$557.3 million.
Revenue from new home sales had fallen 47.8 per cent to S$145.2 million in FY2023, and revenue from resale and property rentals had fallen 3.3 per cent to S$403.4 million in FY2023.
Despite macro challenges and headwinds in the Singapore property market, Apac Realty generated cash flows from operating activities of S$17.3 million and had cash and cash equivalents of S$44.1 million as at Dec 31, 2023, noted Marcus Chu, the group&rsquo s chief executive officer.
Looking forward, the group said it will continue to improve the efficiency of its Singapore operations, cut overhead costs and leverage investments in technology for its salespersons. It will also continue its regional growth in Indonesia and Vietnam.
|
||||
| Useful To Me Not Useful To Me | |||||
|
Alignment
Elite |
18-Feb-2024 23:53
|
||||
|
x 0
x 0 Alert Admin |
https://www.bloomberg.com/news/articles/2024-02-16/singapore-to-raise-bar-for-property-taxes-amid-affordability-hit Good budget for estate agents |
||||
| Useful To Me Not Useful To Me | |||||
|
Alignment
Elite |
17-Nov-2023 13:03
|
||||
|
x 0
x 0 Alert Admin |
You can see that the 2023 primary property pipeline is relatively low but that the 2024 pipeline is much stronger. Then when the launches happen they are all sold out so there' s no risk there for the agencies - in that sense the agency busines is actually easily forecastable (and hence deserves a higher multiple for that). Propnex makes this point more clearly in their disclosure that 2024 will be a far better year. | ||||
| Useful To Me Not Useful To Me | |||||