You are on page 1of 8

SINGAPORE

17 Nov 2014

SINGAPORE STOCKS: DIVIDEND YIELD MONITOR

SINGAPORE STOCKS: Dividend Yield Greater Than 6%


Ranked by company name

Pg

Ranked by dividend yield

Pg

Ranked by company name

Pg

Ranked by dividend yield

Pg

Ranked by company name

Pg

Ranked by dividend yield

Pg

SINGAPORE REITS

SINGAPORE STI STOCKS

Pg 1 of 8

SINGAPORE

17 Nov 2014

SINGAPORE STOCKS: FY1 Dividend Yield Greater Than 6% (ranked by company name)
Px on

Mkt Cap

14 Nov 14

US$m

Eqy
Beta
(x)

Cur

FY1

Cur

FY1

FY2

Buy

Hold

Sell

Total

690

0.9

7.7

7.7

15

14

0.700

600

0.8

8.2

7.6

22

17

2.290

4,246

0.9

6.4

6.5

12

16

15

12

25

1.260

1,492

0.8

6.2

6.5

10

19

18

12

SGD

0.865

958

9.2

9.5

11

14

15

Cache Logistics Trust

SGD

1.170

704

0.8

7.3

7.5

14

15

14

Cambridge Industrial Trust

SGD

0.685

668

0.7

7.3

7.3

18

16

13

CRCT SP

CapitaRetail China Trust

SGD

1.580

1,008

1.0

6.3

6.5

17

15

CDREIT SP

CDL Hospitality Trusts

SGD

1.725

1,304

0.8

6.1

6.4

12

16

15

17

10

CMH SP

China Merchants Hldgs

SGD

0.990

792

0.5

7.8

7.1

10

10

11

CRT SP

Croesus Retail Trust

SGD

0.950

374

11.4

7.6

10

17

20

12

FEHT SP

Far East Hospitality Trust

SGD

0.805

1,102

0.8

6.6

6.5

11

16

13

13

FIRT SP

First REIT

SGD

1.230

690

1.1

6.6

6.6

13

13

14

FCT SP

Frasers Centrepoint Trust

SGD

1.920

1,356

0.8

5.8

6.1

10

17

17

14

15

FCOT SP

Frasers Commercial Trust

SGD

1.440

752

0.7

6.2

6.9

11

16

15

16

GENS SP

Genting Spore

SGD

1.045

9,868

1.0

1.0

6.9

22

21

19

12

22

17

HPHT SP

Hutchison Port Hldgs Trust

USD

0.685

5,967

0.8

7.0

7.8

26

27

26

10

20

18

KREIT SP

Keppel REIT

SGD

1.225

2,842

0.8

14.9

6.3

19

19

12

19

19

LMRT SP

Lippo Malls Indon Retail Trust

SGD

0.380

722

0.9

7.3

7.6

19

13

13

20

MAGIC SP

Mapletree G.C. Comm Trust

SGD

0.955

1,993

6.6

6.5

21

18

17

21

MINT SP

Mapletree Industrial Trust

SGD

1.485

1,966

0.7

7.0

6.7

15

15

11

14

22

MLT SP

Mapletree Logistics Trust

SGD

1.165

2,213

0.8

6.5

6.6

10

15

14

13

19

23

NERT SP

Nera Telecommunications

SGD

0.765

214

0.7

5.2

7.2

18

14

13

24

OUEHT SP

OUE Hospitality Trust

SGD

0.900

917

7.3

7.6

15

15

15

10

25

PCRT SP

Perennial China Retail Trust

SGD

0.540

477

0.8

1.8

7.0

26

26

RHT SP

Religare Health Trust

SGD

1.020

624

0.9

7.1

7.5

19

16

15

27

SSREIT SP

Sabana Shari'ah Compl Ind REIT

SGD

0.975

526

0.5

7.4

7.8

11

16

15

28

SZREIT SP

Saizen REIT

SGD

0.905

198

0.5

6.9

6.6

10

29

SERL SP

Serial System

SGD

0.134

93

0.7

4.5

7.7

30

SBREIT SP

Soilbuild REIT

SGD

0.790

495

7.8

7.8

16

15

14

31

SGREIT SP

Starhill Global REIT

SGD

0.805

1,337

0.7

6.3

6.2

16

16

10

12

32

TLC SP

TeleChoice Int'l

SGD

0.260

91

0.4

6.2

6.5

12

33

UMSH SP

UMS Hldgs

SGD

0.525

174

0.6

8.8

9.5

34

VALUE SP

Valuetronics Hldgs

SGD

0.345

100

0.9

9.4

7.3

35

VMS SP

Venture Corp

SGD

7.580

1,606

0.4

6.6

6.7

15

15

13

10

36

VIT SP

Viva Industrial Trust

SGD

0.790

366

8.5

8.9

16

16

Code

Company

AAREIT SP

AIMS AMP Capital Indus REIT

SGD

1.435

ASCHT SP

Ascendas Hospitality Trust

SGD

AREIT SP

Ascendas REIT

SGD

ART SP

Ascott Residence Trust

SGD

APTT SP

Asian Pay Television Trust

CACHE SP

CREIT SP

8
9

Source: Bloomberg

Div Yield (%)

Note: FY1 = 1st Year Forecast; FY2 = 2nd Year Forecast

PER

Recommendation

Pg 2 of 8

SINGAPORE

17 Nov 2014

SINGAPORE STOCKS: FY1 Dividend Yield Greater Than 6% (ranked by FY1 dividend yield)
Px on

Mkt Cap

14 Nov 14

US$m

Eqy
Beta
(x)

Cur

FY1

Cur

FY1

FY2

Buy

Hold

Sell

Total

174

0.6

8.8

9.5

0.865

958

9.2

9.5

11

14

15

0.790

366

8.5

8.9

16

16

0.790

495

7.8

7.8

16

15

14

SGD

0.975

526

0.5

7.4

7.8

11

16

15

Hutchison Port Hldgs Trust

USD

0.685

5,967

0.8

7.0

7.8

26

27

26

10

20

Serial System

SGD

0.134

93

0.7

4.5

7.7

AAREIT SP

AIMS AMP Capital Indus REIT

SGD

1.435

690

0.9

7.7

7.7

15

14

LMRT SP

Lippo Malls Indon Retail Trust

SGD

0.380

722

0.9

7.3

7.6

19

13

13

10

CRT SP

Croesus Retail Trust

SGD

0.950

374

11.4

7.6

10

17

20

11

ASCHT SP

Ascendas Hospitality Trust

SGD

0.700

600

0.8

8.2

7.6

22

17

12

OUEHT SP

OUE Hospitality Trust

SGD

0.900

917

7.3

7.6

15

15

15

10

13

CACHE SP

Cache Logistics Trust

SGD

1.170

704

0.8

7.3

7.5

14

15

14

14

RHT SP

Religare Health Trust

SGD

1.020

624

0.9

7.1

7.5

19

16

15

15

CREIT SP

Cambridge Industrial Trust

SGD

0.685

668

0.7

7.3

7.3

18

16

13

16

VALUE SP

Valuetronics Hldgs

SGD

0.345

100

0.9

9.4

7.3

17

NERT SP

Nera Telecommunications

SGD

0.765

214

0.7

5.2

7.2

18

14

13

18

CMH SP

China Merchants Hldgs

SGD

0.990

792

0.5

7.8

7.1

10

10

19

PCRT SP

Perennial China Retail Trust

SGD

0.540

477

0.8

1.8

7.0

26

20

GENS SP

Genting Spore

SGD

1.045

9,868

1.0

1.0

6.9

22

21

19

12

22

21

FCOT SP

Frasers Commercial Trust

SGD

1.440

752

0.7

6.2

6.9

11

16

15

22

MINT SP

Mapletree Industrial Trust

SGD

1.485

1,966

0.7

7.0

6.7

15

15

11

14

23

VMS SP

Venture Corp

SGD

7.580

1,606

0.4

6.6

6.7

15

15

13

10

24

MLT SP

Mapletree Logistics Trust

SGD

1.165

2,213

0.8

6.5

6.6

10

15

14

13

19

25

SZREIT SP

Saizen REIT

SGD

0.905

198

0.5

6.9

6.6

10

26

FIRT SP

First REIT

SGD

1.230

690

1.1

6.6

6.6

13

13

27

TLC SP

TeleChoice Int'l

SGD

0.260

91

0.4

6.2

6.5

12

28

ART SP

Ascott Residence Trust

SGD

1.260

1,492

0.8

6.2

6.5

10

19

18

12

29

AREIT SP

Ascendas REIT

SGD

2.290

4,246

0.9

6.4

6.5

12

16

15

12

25

30

MAGIC SP

Mapletree G.C. Comm Trust

SGD

0.955

1,993

6.6

6.5

21

18

17

31

FEHT SP

Far East Hospitality Trust

SGD

0.805

1,102

0.8

6.6

6.5

11

16

13

32

CRCT SP

CapitaRetail China Trust

SGD

1.580

1,008

1.0

6.3

6.5

17

15

33

CDREIT SP

CDL Hospitality Trusts

SGD

1.725

1,304

0.8

6.1

6.4

12

16

15

17

34

KREIT SP

Keppel REIT

SGD

1.225

2,842

0.8

14.9

6.3

19

19

12

19

35

SGREIT SP

Starhill Global REIT

SGD

0.805

1,337

0.7

6.3

6.2

16

16

10

12

36

FCT SP

Frasers Centrepoint Trust

SGD

1.920

1,356

0.8

5.8

6.1

10

17

17

14

Code

Company

UMSH SP

UMS Hldgs

SGD

0.525

APTT SP

Asian Pay Television Trust

SGD

VIT SP

Viva Industrial Trust

SGD

SBREIT SP

Soilbuild REIT

SGD

SSREIT SP

Sabana Shari'ah Compl Ind REIT

HPHT SP

SERL SP

8
9

Source: Bloomberg

Div Yield (%)

Note: FY1 = 1st Year Forecast; FY2 = 2nd Year Forecast

PER

Recommendation

Pg 3 of 8

SINGAPORE

17 Nov 2014

SINGAPORE REITS (ranked by company name)


Px on

Mkt Cap

14 Nov 14

US$m

Eqy
Beta
(x)

Cur

FY1

Cur

FY1

Buy

Hold

Sell

Total

690

0.9

7.7

7.7

0.97

1.03

2.290

4,246

0.9

6.4

6.5

1.11

1.12

12

25

1.260

1,492

0.8

6.2

6.5

0.91

0.88

12

1.170

704

0.8

7.3

7.5

1.20

1.21

SGD

1.670

3,792

0.9

5.1

5.0

0.99

0.97

12

25

CDL Hospitality Trusts

SGD

1.725

1,304

0.8

6.1

6.4

1.08

1.05

17

CapitaRetail China Trust

SGD

1.580

1,008

1.0

6.3

6.5

1.06

1.04

CREIT SP

Cambridge Industrial Trust

SGD

0.685

668

0.7

7.3

7.3

1.00

0.99

CT SP

CapitaMall Trust

SGD

1.970

5,260

0.9

5.5

5.6

1.10

1.11

14

24

10

FCOT SP

Frasers Commercial Trust

SGD

1.440

752

0.7

6.2

6.9

0.89

0.89

11

FCT SP

Frasers Centrepoint Trust

SGD

1.920

1,356

0.8

5.8

6.1

1.04

1.06

14

12

FEHT SP

Far East Hospitality Trust

SGD

0.805

1,102

0.8

6.6

6.5

0.81

0.82

13

FIRT SP

First REIT

SGD

1.230

690

1.1

6.6

6.6

1.27

1.29

14

FRT SP

Fortune REIT

HKD

7.270

1,756

1.0

5.7

5.7

0.69

11

15

15

KREIT SP

Keppel REIT

SGD

1.225

2,842

0.8

14.9

6.3

0.87

0.88

12

19

16

LMRT SP

Lippo Malls Indon Retail Trust

SGD

0.380

722

0.9

7.3

7.6

0.92

0.89

17

MAGIC SP

Mapletree G.C. Comm Trust

SGD

0.955

1,993

6.6

6.5

0.94

0.88

18

MCT SP

Mapletree Commercial Trust

SGD

1.425

2,308

0.8

5.5

5.5

1.22

1.19

12

19

MINT SP

Mapletree Industrial Trust

SGD

1.485

1,966

0.7

7.0

6.7

1.23

1.22

11

14

20

MLT SP

Mapletree Logistics Trust

SGD

1.165

2,213

0.8

6.5

6.6

1.20

1.14

13

19

21

OUECT SP

OUE Commercial Real Estate Inv

SGD

0.810

544

3.0

0.0

22

OUEHT SP

OUE Hospitality Trust

SGD

0.900

917

7.3

7.6

1.00

0.98

10

23

PREIT SP

Parkway Life REIT

SGD

2.340

1,092

0.8

5.0

5.1

1.44

1.44

24

SBREIT SP

Soilbuild REIT

SGD

0.790

495

7.8

7.8

0.98

0.99

25

SGREIT SP

Starhill Global REIT

SGD

0.805

1,337

0.7

6.3

6.2

0.87

0.85

10

12

26

SPHREIT SP

SPH REIT

SGD

1.075

2,088

5.2

5.0

1.15

1.17

27

SSREIT SP

Sabana Shari'ah Compl Ind REIT

SGD

0.975

526

0.5

7.4

7.8

0.90

28

SUN SP

Suntec REIT

SGD

1.850

3,570

0.8

5.0

5.0

0.90

0.89

21

29

SZREIT SP

Saizen REIT

SGD

0.905

198

0.5

6.9

6.6

0.84

30

VIT SP

Viva Industrial Trust

SGD

0.790

366

8.5

8.9

1.05

1.04

Code

Company

AAREIT SP

AIMS AMP Capital Indus REIT

SGD

1.435

AREIT SP

Ascendas REIT

SGD

ART SP

Ascott Residence Trust

SGD

CACHE SP

Cache Logistics Trust

SGD

CCT SP

CapitaCommercial Trust

CDREIT SP

CRCT SP

8
9

Source: Bloomberg

Div Yield (%)

Note: FY1 = 1st Year Forecast; FY2 = 2nd Year Forecast

Px /Book

Recommendation

Pg 4 of 8

SINGAPORE

17 Nov 2014

SINGAPORE REITS (ranked by FY1 dividend yield)


Px on

Mkt Cap

14 Nov 14

US$m

Eqy
Beta
(x)

Cur

FY1

Cur

FY1

Buy

Hold

Sell

Total

366

8.5

8.9

1.05

1.04

0.790

495

7.8

7.8

0.98

0.99

0.975

526

0.5

7.4

7.8

0.90

1.435

690

0.9

7.7

7.7

0.97

1.03

SGD

0.380

722

0.9

7.3

7.6

0.92

0.89

OUE Hospitality Trust

SGD

0.900

917

7.3

7.6

1.00

0.98

10

Cache Logistics Trust

SGD

1.170

704

0.8

7.3

7.5

1.20

1.21

CREIT SP

Cambridge Industrial Trust

SGD

0.685

668

0.7

7.3

7.3

1.00

0.99

FCOT SP

Frasers Commercial Trust

SGD

1.440

752

0.7

6.2

6.9

0.89

0.89

10

MINT SP

Mapletree Industrial Trust

SGD

1.485

1,966

0.7

7.0

6.7

1.23

1.22

11

14

11

MLT SP

Mapletree Logistics Trust

SGD

1.165

2,213

0.8

6.5

6.6

1.20

1.14

13

19

12

SZREIT SP

Saizen REIT

SGD

0.905

198

0.5

6.9

6.6

0.84

13

FIRT SP

First REIT

SGD

1.230

690

1.1

6.6

6.6

1.27

1.29

14

ART SP

Ascott Residence Trust

SGD

1.260

1,492

0.8

6.2

6.5

0.91

0.88

12

15

AREIT SP

Ascendas REIT

SGD

2.290

4,246

0.9

6.4

6.5

1.11

1.12

12

25

16

MAGIC SP

Mapletree G.C. Comm Trust

SGD

0.955

1,993

6.6

6.5

0.94

0.88

17

FEHT SP

Far East Hospitality Trust

SGD

0.805

1,102

0.8

6.6

6.5

0.81

0.82

18

CRCT SP

CapitaRetail China Trust

SGD

1.580

1,008

1.0

6.3

6.5

1.06

1.04

19

CDREIT SP

CDL Hospitality Trusts

SGD

1.725

1,304

0.8

6.1

6.4

1.08

1.05

17

20

KREIT SP

Keppel REIT

SGD

1.225

2,842

0.8

14.9

6.3

0.87

0.88

12

19

21

SGREIT SP

Starhill Global REIT

SGD

0.805

1,337

0.7

6.3

6.2

0.87

0.85

10

12

22

FCT SP

Frasers Centrepoint Trust

SGD

1.920

1,356

0.8

5.8

6.1

1.04

1.06

14

23

FRT SP

Fortune REIT

HKD

7.270

1,756

1.0

5.7

5.7

0.69

11

15

24

CT SP

CapitaMall Trust

SGD

1.970

5,260

0.9

5.5

5.6

1.10

1.11

14

24

25

MCT SP

Mapletree Commercial Trust

SGD

1.425

2,308

0.8

5.5

5.5

1.22

1.19

12

26

PREIT SP

Parkway Life REIT

SGD

2.340

1,092

0.8

5.0

5.1

1.44

1.44

27

SPHREIT SP

SPH REIT

SGD

1.075

2,088

5.2

5.0

1.15

1.17

28

SUN SP

Suntec REIT

SGD

1.850

3,570

0.8

5.0

5.0

0.90

0.89

21

29

CCT SP

CapitaCommercial Trust

SGD

1.670

3,792

0.9

5.1

5.0

0.99

0.97

12

25

30

OUECT SP

OUE Commercial Real Estate Inv

SGD

0.810

544

3.0

0.0

Code

Company

VIT SP

Viva Industrial Trust

SGD

0.790

SBREIT SP

Soilbuild REIT

SGD

SSREIT SP

Sabana Shari'ah Compl Ind REIT

SGD

AAREIT SP

AIMS AMP Capital Indus REIT

SGD

LMRT SP

Lippo Malls Indon Retail Trust

OUEHT SP

CACHE SP

8
9

Source: Bloomberg

Div Yield (%)

Note: FY1 = 1st Year Forecast; FY2 = 2nd Year Forecast

Px /Book

Recommendation

Pg 5 of 8

SINGAPORE

17 Nov 2014

SINGAPORE STI STOCKS (ranked by company name)


Px on

Mkt Cap

Eqy
Beta

Div Yield (%)

PER

Recommendation

Code

Company
14 Nov 14

US$m

(x)

Cur

FY1

Cur

FY1

FY2

Buy

Hold

Sell

Total

AREIT SP

Ascendas REIT

SGD

2.290

4,246

0.9

6.4

6.5

12

16

15

12

25

CAPL SP

CapitaLand

SGD

3.250

10,674

1.3

2.5

2.4

16

20

19

20

25

CD SP

ComfortDelGro

SGD

2.610

4,306

0.9

3.0

3.0

20

20

19

14

CIT SP

City Developments

SGD

9.510

6,670

1.1

0.8

1.3

15

14

13

13

26

CT SP

CapitaMall Trust

SGD

1.970

5,260

0.9

5.5

5.6

11

17

17

14

24

DBS SP

DBS Group Hldgs

SGD

19.710

37,611

1.1

2.9

3.0

12

12

11

25

28

GENS SP

Genting Spore

SGD

1.045

9,868

1.0

1.0

6.9

22

21

19

12

22

GGR SP

Golden Agri-Resource

SGD

0.465

4,604

0.8

2.0

2.2

18

17

12

10

18

GLP SP

Global Logistic Properties

SGD

2.570

9,592

1.0

1.8

1.8

17

37

31

14

18

10

HKL SP

Hongkong Land

USD

7.050

16,587

1.0

2.6

2.6

14

19

19

12

19

11

HPHT SP

Hutchison Port Hldgs Trust

USD

0.685

5,967

0.8

7.0

7.8

26

27

26

10

20

12

JCNC SP

Jardine Cycle & Carriage

SGD

40.500

11,110

1.3

3.3

3.4

13

12

11

13

JM SP

Jardine Matheson Hldgs

USD

59.400

41,030

1.2

2.4

2.4

14

14

13

12

14

JS SP

Jardine Strategic Hldgs

USD

34.790

38,985

1.1

0.7

0.8

12

12

11

11

15

KEP SP

Keppel Corp

SGD

9.130

12,798

0.8

4.6

4.8

11

10

17

27

16

NOBL SP

Noble Group

SGD

1.265

6,573

1.2

0.9

3.2

11

13

10

13

17

17

OCBC SP

OCBC

SGD

10.240

31,483

1.0

3.3

3.5

10

11

11

17

27

18

OLAM SP

Olam Int'l

SGD

2.250

4,235

0.9

2.2

2.3

13

11

14

19

SCI SP

SembCorp Industries

SGD

4.600

6,337

0.8

1.1

3.6

11

10

10

10

19

20

SGX SP

Spore Exchange

SGD

7.340

6,063

0.9

3.8

4.0

26

23

21

10

20

21

SIA SP

Spore Airlines

SGD

10.310

9,287

0.9

1.6

2.2

60

33

23

10

23

22

SIE SP

SIA Engineering

SGD

4.090

3,536

0.6

4.6

4.1

21

22

21

23

SMM SP

Sembcorp Marine

SGD

3.460

5,576

0.8

3.2

4.0

13

13

12

16

28

24

SPH SP

Spore Press Hldgs

SGD

4.330

5,342

0.6

3.5

5.0

17

22

21

17

25

ST SP

Spore Telecoms

SGD

3.950

48,575

1.0

4.3

4.4

17

17

16

14

14

29

26

STE SP

ST Engrg

SGD

3.470

8,350

1.0

2.3

4.1

19

20

18

11

15

27

STH SP

StarHub

SGD

4.050

5,386

0.7

4.9

5.0

19

19

18

17

27

28

THBEV SP

Thai Beverage PCL

SGD

0.760

14,718

0.9

2.1

2.5

22

21

19

10

29

UOB SP

United Overseas Bank

SGD

23.290

28,768

1.1

3.0

3.2

12

12

11

11

15

28

30

WIL SP

Wilmar Int'l

SGD

3.150

15,537

0.8

2.4

2.0

14

14

11

10

10

21

Source: Bloomberg

Note: FY1 = 1st Year Forecast; FY2 = 2nd Year Forecast

Pg 6 of 8

SINGAPORE

17 Nov 2014

SINGAPORE STI STOCKS (ranked by FY1 dividend yield)


Px on

Mkt Cap

Eqy
Beta

Div Yield (%)

PER

Recommendation

Code

Company
14 Nov 14

US$m

(x)

Cur

FY1

Cur

FY1

FY2

Buy

Hold

Sell

Total

HPHT SP

Hutchison Port Hldgs Trust

USD

0.685

5,967

0.8

7.0

7.8

26

27

26

10

20

GENS SP

Genting Spore

SGD

1.045

9,868

1.0

1.0

6.9

22

21

19

12

22

AREIT SP

Ascendas REIT

SGD

2.290

4,246

0.9

6.4

6.5

12

16

15

12

25

CT SP

CapitaMall Trust

SGD

1.970

5,260

0.9

5.5

5.6

11

17

17

14

24

STH SP

StarHub

SGD

4.050

5,386

0.7

4.9

5.0

19

19

18

17

27

SPH SP

Spore Press Hldgs

SGD

4.330

5,342

0.6

3.5

5.0

17

22

21

17

KEP SP

Keppel Corp

SGD

9.130

12,798

0.8

4.6

4.8

11

10

17

27

ST SP

Spore Telecoms

SGD

3.950

48,575

1.0

4.3

4.4

17

17

16

14

14

29

STE SP

ST Engrg

SGD

3.470

8,350

1.0

2.3

4.1

19

20

18

11

15

10

SIE SP

SIA Engineering

SGD

4.090

3,536

0.6

4.6

4.1

21

22

21

11

SMM SP

Sembcorp Marine

SGD

3.460

5,576

0.8

3.2

4.0

13

13

12

16

28

12

SGX SP

Spore Exchange

SGD

7.340

6,063

0.9

3.8

4.0

26

23

21

10

20

13

SCI SP

SembCorp Industries

SGD

4.600

6,337

0.8

1.1

3.6

11

10

10

10

19

14

OCBC SP

OCBC

SGD

10.240

31,483

1.0

3.3

3.5

10

11

11

17

27

15

JCNC SP

Jardine Cycle & Carriage

SGD

40.500

11,110

1.3

3.3

3.4

13

12

11

16

UOB SP

United Overseas Bank

SGD

23.290

28,768

1.1

3.0

3.2

12

12

11

11

15

28

17

NOBL SP

Noble Group

SGD

1.265

6,573

1.2

0.9

3.2

11

13

10

13

17

18

DBS SP

DBS Group Hldgs

SGD

19.710

37,611

1.1

2.9

3.0

12

12

11

25

28

19

CD SP

ComfortDelGro

SGD

2.610

4,306

0.9

3.0

3.0

20

20

19

14

20

HKL SP

Hongkong Land

USD

7.050

16,587

1.0

2.6

2.6

14

19

19

12

19

21

THBEV SP

Thai Beverage PCL

SGD

0.760

14,718

0.9

2.1

2.5

22

21

19

10

22

CAPL SP

CapitaLand

SGD

3.250

10,674

1.3

2.5

2.4

16

20

19

20

25

23

JM SP

Jardine Matheson Hldgs

USD

59.400

41,030

1.2

2.4

2.4

14

14

13

12

24

OLAM SP

Olam Int'l

SGD

2.250

4,235

0.9

2.2

2.3

13

11

14

25

GGR SP

Golden Agri-Resource

SGD

0.465

4,604

0.8

2.0

2.2

18

17

12

10

18

26

SIA SP

Spore Airlines

SGD

10.310

9,287

0.9

1.6

2.2

60

33

23

10

23

27

WIL SP

Wilmar Int'l

SGD

3.150

15,537

0.8

2.4

2.0

14

14

11

10

10

21

28

GLP SP

Global Logistic Properties

SGD

2.570

9,592

1.0

1.8

1.8

17

37

31

14

18

29

CIT SP

City Developments

SGD

9.510

6,670

1.1

0.8

1.3

15

14

13

13

26

30

JS SP

Jardine Strategic Hldgs

USD

34.790

38,985

1.1

0.7

0.8

12

12

11

11

Source: Bloomberg

Note: FY1 = 1st Year Forecast; FY2 = 2nd Year Forecast

Pg 7 of 8

SINGAPORE

17 Nov 2014

DISCLAIMER FOR RESEARCH REPORT

This report is solely for information and general circulation only and may not be published, circulated, reproduced or
distributed in whole or in part to any other person without our written consent. This report should not be construed as an
offer or solicitation for the subscription, purchase or sale of the securities mentioned herein. Whilst we have taken all
reasonable care to ensure that the information contained in this publication is not untrue or misleading at the time of
publication, we cannot guarantee its accuracy or completeness, and you should not act on it without first independently
verifying its contents. Any opinion or estimate contained in this report is subject to change without notice. We have not
given any consideration to and we have not made any investigation of the investment objectives, financial situation or
particular needs of the recipient or any class of persons, and accordingly, no warranty whatsoever is given and no liability
whatsoever is accepted for any loss arising whether directly or indirectly as a result of the recipient or any class of persons
acting on such information or opinion or estimate. You may wish to seek advice from a financial adviser regarding the
suitability of the securities mentioned herein, taking into consideration your investment objectives, financial situation or
particular needs, before making a commitment to invest in the securities. OCBC Investment Research Pte Ltd, OCBC
Securities Pte Ltd and their respective connected and associated corporations together with their respective directors and
officers may have or take positions in the securities mentioned in this report and may also perform or seek to perform
broking and other investment or securities related services for the corporations whose securities are mentioned in this
report as well as other parties generally.

Privileged / confidential information may be contained in this document. If you are not the addressee indicated in this
document (or responsible for delivery of this message to such person), you may not copy or deliver this message to
anyone. Opinions, conclusions and other information in this document that do not relate to the official business of OCBC
Investment Research Pte Ltd, OCBC Securities Pte Ltd and their respective connected and associated corporations shall
not be understood as neither given nor endorsed.

Co.Reg.no.: 198301152E
Carmen Lee
Head of Research
For OCBC Investment Research Pte Ltd

Published by OCBC Investment Research Pte Ltd

Pg 8 of 8

You might also like