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expect another spike on apac when propnex announce their rosy report....
What news ?
yeap....covered 2 gaps this morning despite those contra selling on news....expect to spring towards 80c +
Alignment ( Date: 11-Aug-2025 09:21) Posted:
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Strong share price reaction - huat!
PropNex almost having a monopoly in this industry, if I am not wrong, Probably that' s the reason ...
SmallSmall ( Date: 21-Jul-2025 09:33) Posted:
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:)
SmallSmall ( Date: 21-Jul-2025 09:33) Posted:
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The fact that a private equity fund is the controlling shareholder of this company and whose profit is determined by its carried interest terms is important in a number of ways.
First, they are (very) incentivised to crystallise value for the share price above the hurdle rate, otherwise they don&rsquo t make money. Unlike for instance many family controlled businesses who don&rsquo t really care about the share price.
Second, they are under time pressure to hit the target, because every year their target price level resets higher by the hurdle rate. So the longer they hold the more the share price needs to rise for them to make money.
Happily for them the 1H results just announced was strong (as I predicted a few months back) and supports a much higher share price than the current level. Share price should huat bigly on Monday.
First, they are (very) incentivised to crystallise value for the share price above the hurdle rate, otherwise they don&rsquo t make money. Unlike for instance many family controlled businesses who don&rsquo t really care about the share price.
Second, they are under time pressure to hit the target, because every year their target price level resets higher by the hurdle rate. So the longer they hold the more the share price needs to rise for them to make money.
Happily for them the 1H results just announced was strong (as I predicted a few months back) and supports a much higher share price than the current level. Share price should huat bigly on Monday.
Alignment ( Date: 09-Aug-2025 13:04) Posted:
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Apac Realty&rsquo s H1 net profit more than doubles to S$11.3 million on higher home sales
An interim dividend of 2.7 Singapore cents per share has been declared for the half-year
[SINGAPORE] Real estate services player Apac Realty&rsquo s net profit more than doubled to S$11.3 million for its first half ended Jun 30, 2025.
This was driven by &ldquo robust activity&rdquo in the new private residential segment, which resulted in higher home sales, said the company in an earnings statement on Friday (Aug 8).
Developers sold 5,566 private residential units &ndash including executive condominiums &ndash during the half-year period, compared to 2,484 units the year before.
This resulted in new home sales revenue more than doubling to S$131.2 million, compared to S$57.9 million a year ago.
Resale and rental revenue held steady, rising to S$206.7 million, from S$203.6 million the previous year.
Total revenue for the period rose 28.8 per cent to S$341.5 million, from S$265.2 million in the year-ago period.
Earnings per share stood at 3.14 Singapore cents for the half-year period, up from 1.15 cents before.
An interim dividend of 2.7 Singapore cents per share was declared for the half-year, up from 0.9 cent before. The dividend will be paid on Sep 5, after books closure on Aug 29.
Apac Realty said the uptick in Singapore&rsquo s private home market momentum is expected to sustain into the second half of 2025 and 2026, as the government is expected to sustain a &ldquo high level&rdquo of private housing supply.
Given this, the company is expected to maintain its &ldquo positive trajectory&rdquo for the rest of the year and beyond, said chief executive officer Marcus Chu.
&ldquo Our strategic focus continues to centre on empowering our agents to effectively capture market opportunities and deliver long-term value to clients and shareholders.&rdquo
Morgan Stanley Private Equity bought their majority stake at 61 cents in 2022.
Private equity firms have a hurdle return rate for their investments that they need to hit before their carried interest is in the money. The exact hurdle rate varies by firm and by fund but 8% is normal.
61 cents growing by 8% a year by four years gets you to 83 cents by early 2026. That is the number the share price needs to hit by that time for Morgan Stanley to make money as the manager.
Private equity firms have a hurdle return rate for their investments that they need to hit before their carried interest is in the money. The exact hurdle rate varies by firm and by fund but 8% is normal.
61 cents growing by 8% a year by four years gets you to 83 cents by early 2026. That is the number the share price needs to hit by that time for Morgan Stanley to make money as the manager.
muifan ( Date: 09-Aug-2025 10:49) Posted:
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Curious how you get the 83cents number can share ?
Alignment ( Date: 09-Aug-2025 10:26) Posted:
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Good momentum but still lot of room to grow before Morgan Stanley tio performance fee.
Alignment ( Date: 22-Jul-2025 09:15) Posted:
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big daddy propnex already $1.51...
You can see some funds and buyers are ramping Up the price for APAC, should be good news for 1H and also 2H results. Buy also for dividends.
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 .
Breakout liao $0.595....But still a long way to catch up with Propnex
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.
Yeah, APAC still lagging way way behind
SmallSmall ( Date: 21-Jul-2025 09:33) Posted:
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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
PropNex already historical high $1.35
This one still lagging. Used to trade way way higher...From chart think it went above $1 before
wehuattogether88 ( Date: 10-Jun-2025 13:24) Posted:
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Look at new home sales - 2025 much higher than 2024.
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.
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.