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[公司专区] 5148 UEMS UEM阳光

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发表于 2011-6-16 16:33 | 显示全部楼层
UEM Land targets 50% revenue growth in FY2011

KUALA LUMPUR:  UEM LAND HOLDINGS BHD [] has set an internal target for a 50% revenue growth in FY2011 and a 10% return on investment, said its managing director and CEO Datuk Wan Abdullah Wan Ibrahim.

He said with the acquisition of SUNRISE BHD [], UEM Land was hoping to build its portfolio and surpass its competitors' revenue in the near future.

"With the acquisition of Sunrise, we are the biggest property player in terms of market capitalisation. But we do not have the earnings to prove it yet.

“Nonetheless, we hope to surpass our competitors in the near future," he said after the group's AGM on Thursday, June 16.

"We believe these targets are achievable with Sunrise in the picture," he said.

http://www.theedgemalaysia.com/b ... wth-in-fy2011-.html

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发表于 2011-6-17 16:17 | 显示全部楼层
UEM Land gains on 50% revenue growth target

KUALA LUMPUR: UEM LAND HOLDINGS BHD [] shares advanced in early trade on Friday, June 17 after the company said it has set an internal target for a 50% revenue growth in FY2011 and a 10% return on investment.

At 9.25am, UEM Land was up three sen to RM2.80 with 298,300 shares traded.

Its managing director and CEO Datuk Wan Abdullah Wan Ibrahim yesterday said with the acquisition of SUNRISE BHD [], UEM Land was hoping to build its portfolio and surpass its competitors' revenue in the near future.

http://www.theedgemalaysia.com/b ... -growth-target.html

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发表于 2011-6-17 21:03 | 显示全部楼层
UEM Land targets RM5b GDV in 2011

KUALA LUMPUR: UEM Land Holdings Bhd is planning to launch projects with a total gross development value (GDV) of RM5 billion this year, as it aspires to see its revenue grow by 50%.

With the acquisition of Sunrise Bhd, UEM Land is hoping to build its portfolio and surpass its competitors’ revenue in the near future, said managing director and CEO Datuk Wan Abdullah Wan Ibrahim.

“With the acquisition of Sunrise, we are the biggest property player in terms of market capitalisation. But we do not have the earnings to prove it yet. However, we have enough projects in the pipeline to catch up,” he said after the group’s AGM yesterday.

Wan Abdullah said UEM Land has set an internal target of 50% revenue growth for FY11 and a 10% return on investment (ROI).

Based on UEM Land and Sunrise’s combined FY10 results, UEM Land’s revenue is expected to grow to RM1.6 billion this year. Last year, UEM Land and Sunrise achieved revenue of RM469.7 million and RM590.7 million, respectively.

“While these are aspiration numbers, we think that they are achievable (with the combined revenues of UEM Land and Sunrise),” said Wan Abdullah.

Last year, UEM Land’s revenue grew 15% to RM469.7 million. While it fell below the group’s internal target of 20%, Wan Abdullah said it managed to achieve its sales target.

“The lower revenue was due to the fact that not all of the sales were recognised last year. Nonetheless, we managed to achieve ROI of 9.2% last year, which surpassed our 6% target,” he said.


Wan Abdullah said UEM Land is hoping to build its portfolio and surpass its competitors' revenue in the near future.
Wan Abdullah said UEM Land has total unbilled sales of RM1.5 billion, which will support earnings for the next two years.

Despite its large landbank in Iskandar Malaysia, Wan Abdullah said it would continue to scour for more land in the region.

“There are aspirations for UEM Land to grow regionally. With Sunrise onboard, we now have a project in Vancouver with RM1.2 billion GDV and 16ha of land in Durban, South Africa,” said Wan Abdullah. However, he declined to mention the group’s target locations.

UEM Land is the property arm of UEM Group, which has a 69.1% stake in the company as at April 29. UEM Group is wholly owned by Khazanah Nasional Bhd.

UEM Land is currently undertaking the development of Nusajaya, which is one of the five flagship zones of Iskandar Malaysia in Johor. Nusajaya spans a total of 23,875 acres (9,662ha), with UEM Land owning 10,403 acres under various stages of development.

Key developments there include the flagship 688-acre Puteri Harbour, Asia’s first Legoland which is expected to open in 2012, and the RM1.3 billion coastal highway that links Nusajaya and Johor Bahru.

Outside of Nusajaya, UEM Land also has projects in Bangi, Cyberjaya, Kajang and Mont’Kiara.

“We are on track towards reaching our tipping point for Nusajaya next year, where it would become a true regional city,” said Wan Abdullah.

UEM Land became the biggest property player by market capitalisation listed on Bursa Malaysia when it successfully acquired Sunrise earlier this year. Based on yesterday’s closing at RM2.77, UEM Land has a market capitalisation of RM11.5 billion. Its nearest counterpart, S P Setia Bhd, has a market capitalisation of RM7.44 billion.

Notwithstanding its size, UEM’s historical price-to-earning (PER) multiple of 46 times is considered relatively high, and the stock trades at a price-to-book ratio of 2.9 times, compared with S P Setia’s 1.9 times.

Nonetheless, analysts still see further upside to UEM Land’s share price.

“Despite its premium valuation over its peers, we believe that the stock’s potential inclusion in the FBM KLCI and positive news from Iskandar Malaysia will be its upward re-rating catalysts,” said OSK Research in a recent note. It has a fair value of RM3.52 for UEM Land, 27% above the current share price.

For 1QFY11 ended March 31, UEM Land’s net profit expanded to RM17.6 million from RM3.14 million a year earlier, due to direct development in Nusajaya and consolidated results of Sunrise. Revenue also surged to RM187.7 million from RM39.7 million a year ago.

UEM Land rose 15.4% in the last six months to a recent high of RM3.25 before closing at RM2.77 yesterday.

http://www.theedgemalaysia.com/i ... 5b-gdv-in-2011.html

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发表于 2011-6-21 17:13 | 显示全部楼层
UEM Land sets up Singapore subsidiary

PETALING JAYA: UEM Land Holdings Bhd has set up a wholly-owned subsidiary in Singapore, which is perceived as a move for the property group to undertake development projects across the causeway.

In an announcement to Bursa Malaysia, UEM Land said the new subsidiary called Sunrise MS Pte Ltd, will be a  wholly-owned unit of Sunrise Bhd. The latter is a subsidiary of UEM Land.

“The principal activity of Sunrise MS is to provide consultancy, advisory and technical services relating to project development in the Republic of Singapore,” the group said in the announcement.

To recap, both the Malaysian and Singapore governments have agreed on a land swap. Under the point of agreement, the Malaysian government will relinquish its rights to the land in Tanjong Pagar where Keretapi Tanah Melayu Bhd’s (KTMB) train terminal is located in return for tracts in the prime area of South Marina and Ophir-Rochor.

The land will be developed by Khazanah Nasional Bhd together with its Singapore counterpart Temasek Holdings.

Industry observers said it would not be a surprise if Sunrise MS was appointed by Khazanah, the major shareholder of UEM Land, to be the project manager for the development of the land as Khazanah is UEM Land’s largest shareholder. However, the ownership of the land will still be in the hands of Khazanah and Temasek.

Yesterday, UEM Land’s share price ended two sen higher at RM2.77.

http://www.theedgemalaysia.com/i ... ore-subsidiary.html

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发表于 2011-6-22 15:15 | 显示全部楼层
http://www.nanyang.com/sidelines ... mp;sID=9&cID=33

玉楼金阙:阳光照入马友乃德置地●陈金阙
2011/06/21 6:17:16 PM
●陈金阙

常常听说世界一直在变,唯一不变的就是“转变”。上星期出席马友乃德置地(UEMLand)股东大会,就让我有这种感触。

马友乃德置地今年是第三届股东大会,股友们可能以为这是一间新公司,可是我对它的记忆,是从十多年前玲珑(Renong)开始。

八面玲珑受挫,到03年转名成马友乃德世界(UEM World),全球化也不大成功,才决定脚踏实地,在08年重组成马友乃德置地。

这之后虽不是说飞黄腾达,但3年来可解为渐入佳境,股票由上市价50仙至今2.70令吉,短短3年增值超过500%,足以傲视许多国内上市的产业股。

但回溯马友乃德世界上市参考价1.60令吉,乃至马友乃德世界末期的4换5马友乃德置地,还有更早期的4玲珑股换1马友乃德世界;而印象中玲珑价钱是自3.20令吉垮至除牌。

所以,把这不光采的过去计算在内,这500%涨幅只便宜了新投资者,买了死守不放的似乎还没回本(见表1)。

马友乃德置地去年的最大转变,就是出手收购阳光集团(Sunrise),至今已宣告完成,阳光集团已100%划入它的版图,阳光集团的掌舵人拿督童贵旺,也正式成为马友乃德置地的大股东之一,担任马友乃德置地的董事,为公司尽一份力量。

熟悉我的读者不会对阳光集团感到陌生。

犹记得去年我对该公司跨出海外的消息感到很兴奋,深深觉得公司启动了迈向另一个高峰的序幕时,突然间就被更具慧眼的马友乃德置地私有化,当时的确感到有点失落。

背景价值观不同

投资马友乃德置地和阳光集团,可是两回事,因为两间公司的文化背景以及价值观是完全不同的。

马友乃德置地由国库控股(Khazanah)控制70%,是典型的官联公司(GLC);阳光集团可是私人企业界的佼佼者。而在价值观方面,可从下面列表参考其迥异之处:(参考表二)

因此,要把投资在阳光集团的本钱注入马友乃德置地,对一个价值投资者而言,可不是那么容易。

曾在大会中询问拿督童,何以会有如此大的转变?

拿督童的回答,可圈可点。最让我感到认同的是,是他觉得在不同的时空,做不同的事。

或许马友乃德置地拥有更大的格局,也许以他更大的舞台,让他觉得心动。或许他真能创造神奇,成功改变这官联公司的价值观。

人生有多少个十年,又有多少个机会是不把握则一闪而逝的。

他在阳光集团集团谢幕之前,成功把其价值释放出来,算是对得起股东。之后,他投身这间更大的公司,希望他能得偿所愿,发挥所长。

下期,我们继续探讨阳光照入马友乃德置地的亮度。

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发表于 2011-6-28 11:13 | 显示全部楼层
UEM Land active, up on overseeing Singapore projects

KUALA LUMPUR: UEM Land Bhd shares were actively traded on Tuesday, June 28 after the company was appointed to jointly oversee the marketing and development of projects in Singapore and Malaysia.

At 9.40am, UEM Land rose six sen to RM2.88 with 2.88 million shares traded.

RHB Research has upgraded UEM Land to a trading buy and raised its target price for the stock to RM3.35 from RM2.80.

Khazanah Nasional Bhd and Singapore’s Temasek Holdings Ltd last night announced the establishment of two JV companies to undertake development of land parcels in Malaysia and Singapore.

Khazanah and Temasek have incorporated a company called M+S Pte Ltd on a 60:40 basis to undertake development of the land in Singapore.

M+S will develop four land parcels in Singapore’s financial district in Marina South and two in Ophir-Rochor. All the projects are envisaged as integrated developments.

UEM Land and a wholly-owned subsidiary of Mapletree Investments Pte Ltd, a unit of Temasek, have been appointed to oversee the marketing and development of the project in Marina South.

For the Ophir-Rochor site, UEM Land and a wholly-owned unit of CapitaLand Ltd, another Temasek portfolio company, have been appointed to oversee the project

http://www.theedgemalaysia.com/b ... apore-projects.html

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发表于 2011-6-28 17:15 | 显示全部楼层
UEM Land to oversee S’pore jobs     
  
KUALA LUMPUR: After prolonged discussions, Malaysia and Singapore’s plans to cooperate on land development in both countries have taken off with the establishment of two joint-venture (JV) companies yesterday, and the appointment of UEM Land Holdings Bhd and two units of Temasek Holdings Ltd to oversee the development and marketing of the Singapore projects.   

Khazanah Nasional Bhd and Singapore’s Temasek Holdings Ltd last night announced the establishment of two JV companies to undertake development of land parcels in Singapore and Malaysia.

The two sovereign wealth funds have incorporated a company called M+S Pte Ltd to undertake development of the land in Singapore. M+S will develop four land parcels in Singapore’s financial district in Marina South and two in Ophir-Rochor. All the projects are envisaged as integrated developments.

Khazanah will hold 60% equity interest in M+S while Temasek will hold the remaining 40%.

UEM Land and a wholly owned subsidiary of Mapletree Investments Pte Ltd, a unit of Temasek, have been appointed to oversee the marketing and development of the project in Marina South. For the Ophir-Rochor site, UEM Land and a wholly owned subsidiary of CapitaLand Ltd, another Temasek portfolio company, have been appointed to oversee the marketing and development.

“Khazanah and Temasek are both committed to the successful commercialisation of these land parcels, which will include office, residential, hotel and retail components,” the joint statement from Khazanah and Temasek said.


The iconic Marina Bay Sands is in the vicinity of the Marina South land the JV will develop.
The Singapore projects have a permitted gross floor area of up to 501,020 sq m with an estimated GDV of approximately S$11 billion (RM27 billion), the statement added.

This landmark development comes as Singapore and Malaysia last May resolved a two-decade long impasse over the relocation of the historic Keretapi Tanah Melayu Bhd (KTMB) station in Tanjong Pagar, Singapore, under the Points of Agreement (POA) which was signed in 1990.

The 1990 POA has been supplemented by new terms and conditions which include a land swap for the Malayan railway land. The agreement also has proposals for new bilateral cooperation, including the development of the iconic wellness-related township in Iskandar Malaysia, Johor, and the development of a rapid transit system (RTS) to connect both countries.

Earlier, it was agreed that Malaysia and Singapore would jointly develop three parcels of land in Tanjong Pagar, Kranji and Woodlands as well as another three pieces of land in Bukit Timah. These tracts were swapped for pieces of land with equivalent values in the Marina South and Ophir-Rochor areas.

Just last week, UEM Land told Bursa Malaysia that its subsidiary, Sunrise Bhd, had incorporated a company in Singapore called Sunrise MS Pte Ltd to provide consultancy, advisory and technical services relating to project development in the island republic. UEM Land acquired Sunrise late last year to boost its earnings and branding, and inject new catalysts into the development of its Iskandar Malaysia landbank.

Analysts welcomed the latest development, adding that it signals improving bilateral ties between the two countries.

“The speed at which both sides worked yesterday was amazing. A joint statement (by both governments on the intention of forming the joint ventures by end-June) came out in the afternoon and by night, both companies were already incorporated,” said an analyst, noting that it suggested a strong resolve to get the project moving.  

For the projects in Malaysia, meanwhile, Khazanah and Temasek yesterday established a 50:50 JV company called Pulau Indah Ventures Sdn Bhd to undertake two developments in Iskandar Malaysia.

The two proposed developments are the Urban Wellness development in Medini North and the Resort Wellness development in Medini Central. Pulau Indah will develop serviced apartments, a corporate training centre, and commercial, retail, residential and wellness-related offerings on these sites. Khazanah and Temasek said they are currently in discussions and negotiations with potential partners and operators for the various components to maximise the commercial potential of the location

The GDV of the Iskandar projects, with a permitted gross floor area of up to 1,365,675 sq m, is estimated at RM3 billion.

“In addition, Khazanah and Temasek will jointly consider other potential developments which are commercially viable in Iskandar Malaysia of up to 200ha of land, inclusive of the 87ha [for the wellness projects in Medini north and central],” both governments said in a joint statement earlier yesterday afternoon.

An analyst said this joint venture augers well to increase Singapore investment in Iskandar Malaysia, where UEM Land owns large tracks of land.   

“By this move, the Singapore government has sent a very strong signal of confidence in Iskandar,” he noted, adding that it would pave the way for Singapore’s private sector to participate more actively in the development.

Tan Sri Azman Mokhtar, Khazanah managing director, said: “We are honoured to be undertaking these exciting developments at these key sites. We look forward to a strong and fruitful partnership.”

Ho Ching, executive director and CEO of Temasek, added: “Both the Khazanah and Temasek teams put in tremendous effort. We were also very fortunate to have the expert and highly professional support of leading real estate companies like UEM Land from Malaysia as well as Mapletree and CapitaLand from Singapore.”

http://www.theedgemalaysia.com/i ... see-spore-jobs.html

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发表于 2011-6-29 12:35 | 显示全部楼层
马新联营发展300亿产业计划
UEM置地成最大赢家

2011/06/28 5:58:30 PM
●南洋商报 报道:沈素蕾

(吉隆坡28日讯)马新联营在新柔发展总值300亿令吉的产业计划,不但可以提振马来西亚依斯干达特区(Iskandar Malaysia,简称依斯干达)的势头,UEM置地控股(UEMLand,5148,主板产业股)更成为最大赢家。

配合在马新合作发展产业计划,两国的政府投资臂膀——国库控股(Khazanah)和淡马锡(Temasek),昨日宣布成立两家联营公司,即M+S私人有限公司,以及英达岛创投(Pulau Indah Ventures)私人有限公司。

其中,M+S将在新加坡的Marina South和奥菲亚路(Ophir Road),发展总值270亿令吉的产业计划;UEM置地控股受委分别与Mapletree投资私人有限公司和嘉德置地(CapitaLand),分别合作负责该两项计划的行销及发展工作。

借阳光建时尚产业

侨丰投资研究分析员表示,UEM置地控股受委参与上述计划并不令人意外,因它是国库控股的产业臂膀。

他说:“随着已收购阳光(Sunrise),我们相信UEM置地控股能借助阳光在时尚生活综合发展计划方面的专业,来负责这些发展计划。”

因此,他相信将阳光可能会代表UEM置地控股参与相关的发展计划。

发展总值超越预期

对于该总值270亿令吉的产业计划,拉昔胡申研究分析员则说:“这比我们预期的170亿令吉高很多。因此,假设在该计划的有效持股权维持在48%,我们将每股实际净资产价值(RNAV)提高至3.50令吉(之前为3.20令吉)。”

提振依斯干达信心

至于英达岛创投,则负责在依斯干达的Medini North及Medini Central的Heritage Cluster发展保健产业计划,总值30亿令吉。

Medini North是乐高乐园(Legoland)和百汇医疗(Parkway)旗下鹰阁(Gleneagles)医院的所在地。

据拉昔胡申研究分析员,UEM置地控股在Medini的商务土地价值,大约是每平方尺140至150令吉,而该公司可能不会全面参与这些计划,因它缺乏发展退休保健产业方面的专业。

据悉,这总值30亿令吉的发展计划,将包含一个企业培训中心、服务公寓、商务元素、住宅和保健相关项目。

分析员认为,这当中的部分计划,可能交由专业于这类产业的新加坡或澳洲业者负责。

他说:“马化国际(Mulpha,3905,主板贸服组)持股25%的FKP有限公司,正是在澳洲策划和管理退休村的资深业者。”

“此外,国库控股旗下其他公司也可能参与这发展计划,包括综合医疗控股(Integrated Healthcare Holdings),后者持有百汇控股旗下所有位于亚洲的医院。”

因此,透过上述在Medini的联营发展计划,分析员相信UEM置地控股会间接受惠。

“整个进展显示着,新加坡政府对依斯干达很有信心,从而会鼓励更多新加坡企业往这里投资,好让这特区成功。”

顺利实业分杯羹

另外,连接马新的快捷交通系统(Rapid Transit System),终站已确定分别坐落在新山中环(JB Sentral)和新加坡兀兰的共和理工学院(Republic Polytechnic)。

据分析员,配合推行此项计划,一个技术小组已经成立,接下来也将委任一家顾问公司来发展潜在结盟和建议书,顾问研究将于今年第四季招标。

他说:“尽管这系统在2018年才会启动,但这当中的主要赢家应该是顺利实业(KSL,5038,主要产业股),因该公司在柔佛拥有超过1000英亩地库。”

同时,该公司在新山市中心的KSL City广场,也能够随着更多新加坡人到来而取得好处。

有鉴于此,分析员预见UEM置地控股和KSL拥有短期的交易机会,因两者皆是依斯干达稳健增长之际的优质实际净资产价值股项。受上述利好消息所激励,UEM置地控股周二早盘数度扬升3.2%或9仙至2.91令吉。

休市时,该股报2.88令吉,涨6仙或2.1%;全日以2.87令吉,扬5仙或1.773%闭市,成交量达1864万2200股。

同样地,顺利实业股价周二也趋升;该股以1.86令吉,起2仙或1.1%休市,闭市是报1.85令吉,涨1仙或0.543%,成交量达8万5000股。

■M+S私人有限公司

-国库控股和淡马锡分别持有M+S的60%和40%股权。

-负责新加坡的发展计划,发展总值达270亿令吉。

-这计划包含两项综合型发展计划(结合办公室、住宅、酒店和零售项目),获准的总净楼层面积(GFA)为50万1020平方米,它们包括:

●Marina South的4段地——UEM置地控股与Mapletree负责行销及发展。

●奥菲亚路(Ophir Road)的2段地——UEM置地控股与嘉德置地负责行销及发展。

■英达岛创投私人有限公司

-国库控股和淡马锡各持有英达岛创投50%股权。

-负责在马来西亚依斯干达特区的发展计划,发展总值达30亿令吉。

-这发展计划将包含服务式公寓、一座企业培训中心、商务、零售、住宅和保健相关产业,获准的总净楼层面积为136万5675平方米。

http://www.nanyang.com/NewsCente ... mp;sid=7&cid=12

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发表于 2011-6-29 21:31 | 显示全部楼层
UEM Land higher on projects in Iskandar, Singapore      

PETALING JAYA: UEM Land Holdings Bhd rose five sen to close at RM2.87 yesterday on its appointment to oversee the development of parcels of land in Singapore, and projects in Iskandar Malaysia to be undertaken by joint-venture companies owned by Temasek Holdings Ltd and Khazanah Nasional Bhd.

The counter was the third most active on Bursa Malaysia yesterday, with 18.6 million shares traded.

Khazanah and Temasek on Monday announced the establishment of two JV companies to develop land in Singapore and Malaysia. M+S Pte Ltd, which is 60%-owned by Khazanah with the rest belonging to Temasek, will develop the land in Marina South and Ophir-Rochor. The projects in Singapore are estimated at S$11 billion (RM27 billion).

UEM Land and a subsidiary of Mapletree Investments Pte Ltd have been appointed to oversee the marketing and development of a project in Marina South. For the Ophir-Rochor project, UEM Land will work with a wholly-owned subsidiary of CapitaLand Ltd.

Credit-Suisse said, as the project manager, UEM Land’s earnings could be boosted by the management fees. Using the benchmark 2% of gross development value (GDV) as the value of the fee, the research firm estimated that UEM Land could earn about RM540 million in revenue and RM365 million in net profit, which would translate into 17% of potential increase in the group’s net profit for FY12.

“ If we assume the management fees amount to 2% of the RM27 billion of GDV, this would translate into about RM540 million in revenue to be recognised over three-five years,” the research house noted.

UEM Land is also slated to benefit from the increased participation of Temasek in the development of Iskandar Malaysia in South Johor, as it owns large tracts of land in the area.

Temasek, together with Khazanah, had also announced the development of two-wellness related projects in Nusajaya, Iskandar Malaysia with a total of 215 acres (87ha) and an estimated GDV of RM3 billion.

This development augurs well for the progress of Iskandar Malaysia as Temasek’s involvement will create an “anchor tenant” effect to the corridor. According to RHB Research Institute, Temasek’s presence will lead to other investors from Singapore to follow suit, which will determine the success of the development corridor.

“We believe UEM Land will benefit indirectly as the progress has shown greater confidence from the Singapore government, which should encourage more investments from other Singapore corporations to make Iskandar a success. Another booster will be the remaining 285 acres of the project,” it noted.

Credit Suisse noted that Temasek’s involvement in the development of Iskandar Malaysia and the progress made on the discussion between the Malaysian and Singaporean governments regarding the development of the land parcels in Singapore is one of the catalysts that the market has been waiting for.

http://www.theedgemalaysia.com/i ... ndar-singapore.html

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发表于 2011-6-30 14:00 | 显示全部楼层
插足馬新300億產業聯營
UEM置地受看好‧股價大起

業績評論 2011-06-28 19:09

(吉隆坡28日訊)UEM置地(UEMLAND, 5148, 主板產業組)受委為新加坡和大馬聯營總值300億令吉產業計劃的大馬方面負責人,股價今日受消息激勵大起,一度揚升9仙至2令吉91仙的11週新高。

一度寫11週新高

該公司股價今日以2令吉85仙,揚升3仙開市後,就在買盤支持下扶搖直上,一度揚升3.19%至2令吉91仙,創下4月以來新高。股價稍後持續高企,並以2令吉87仙作收,揚升5仙。全日交投活躍,共有1千864萬2千200股易手。

國庫控股和新加坡淡馬錫宣佈聯手合作在新加坡和大馬的依斯干達特區土地進行總值300億令吉的產業計劃,包括辦公室、住宅、酒店和零售單位;並研究馬新高鐵計劃。

新加坡土地主要來自去年大馬鐵道終站從柔佛丹戎巴葛遷移至新加坡兀蘭,換取在新加坡濱海南區和奧菲亞――梧槽土地,並讓國庫和淡馬錫以60對40%聯營發展,發展總值估計110億新元(270億令吉)。

另外,依斯干達佔地215英畝,總值30億令吉的計劃則是發展城市保健中心,包括企業訓練中心、服務公寓、商業、住宅、退休安養中心和保健相關服務。

UEM置地作為國庫產業臂膀,被委任和淡馬錫名下的楓樹投資負責銷售和發展濱海南的計劃;另外,UEM置地也和新加坡嘉德置地受委發展奧菲亞――梧槽計劃。

至於依斯干達計劃,UEM置地可能只負責部份發展,因為沒有安養中心經驗,可能由新加坡和澳洲業者進行。

馬化國際(MULPHA, 3905, 主板貿服組)持有25%的澳洲公司FKP就有豐富的退休村經驗;另外,國庫的綜合保健公司可能也涉及。

有助推動盈利

分析員看好UEM置地插足這項馬新龐大產業計劃,有助推動公司的表現和盈利能力。

興業研究相信,UEM置地將從計劃的順利進展中受惠,在兩國政府(特別是新加坡政府)背書下,相信計劃可吸引更多新加坡企業投資,確保依斯干達的成功。另一項推動力是該公司在特區餘下未發展的285英畝土地的未來潛能。

同時,新加坡計劃的總值也比之前預估的170億令吉高,假設48%的參與權不變,已經有助提高每股淨有型資產至3令吉35仙(之前為3令吉20仙)。

瑞士信貸表示,UEM置地是馬新關係改善的藍籌股選擇,也是市場期待以久的催化劑。

僑豐研究認為,UEM置地受委在預期中,在併購陽光後,該公司可使用陽光的品味風格綜合發展的專業,用在新計劃上,因此相信這計劃會由陽光主導。

由於計劃詳情和可能帶來的盈利貢獻不詳,因此分析員並未作出財測改變。興業認為,計劃的風險是管制和國家關係的改變。

http://biz.sinchew-i.com/node/48936?tid=18

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发表于 2011-7-4 10:15 | 显示全部楼层
Monday July 4, 2011

Mega multi-billion ringgit development project for Desaru
By ZAZALI MUSA
zaza@thestar.com.my



JOHOR BARU: The Government's investment arm, Khazanah Nasional Bhd, will unveil a multi-billion ringgit development plan for Desaru this year.

Sources told StarBiz Prime Minister Datuk Seri Najib Tun Razak is expected to launch the project in Desaru either in the third or fourth quarter.

The project will be undertaken by Khazanah's wholly-owned subsidiary Desaru Development Corp Sdn Bhd (DDC) which it acquired in 2010, inclusive of the latter's 1,618ha.

In the pipeline for the development is the building of two international class hotels to be managed by two of the world's renowned hotel management companies and a world-class golf course.


The 1.7km single-plane cable-styled bridge across Sungai Johor.
There will also be a theme park incorporating tropical, eco-adventure and water features and a convention centre to cater to the meeting, incentive, convention and exhibition segment.

“The Prime Minster will also declare Desaru as the leisure and tourism region for Johor at the unveiling of the development plan,'' said sources.

Khazanah's objective is to turn Desaru, on the eastern coast of Johor, into what Nusa Dua in Bali is now. Nusa Dua is known as an enclave for large international resorts in southeastern Bali.

Work on phase one of the development project will take place at the sites of the Desaru Resort Golden Beach Hotel, Desaru Holiday Chalet and Desaru Golf and Country Club.

A check by StarBiz to the three said properties recently showed that they have ceased operations and entrances to the premises were cordoned and parts of the structures have been pulled down.

Sources said there were even suggestions made by certain parties in Johor to the Government to include Desaru as part of Iskandar Malaysia economic region since Khazanah took over DDC.

Khazanah is developing Iskandar Malaysia's Nusajaya, one of the five flagship development zones in the country's first economic region via its controlled entity UEM Land Holdings Bhd.

“However, the Government feels Khazanah should focus on the leisure and tourism sector in its development agenda for Desaru instead of multiple sectors,'' said the sources.

Sources said Khazanah's role is to attract local and foreign investors to Desaru and they can either undertake the projects privately or on a joint-basis with Khazanah.

Sources said the development of Desaru would also complement the US$20bil integrated downstream oil and gas complex in Pengerang by Petronas in Johor's southeast region.

Dubbed Rapid or Refinery and Petrochemical Integrated Development, the project is aimed at building something larger than Kertih.

Workers in the oil and gas-related industry at Rapid, including expatriates and their family, would need to unwind and Desaru, just a short distance away from Pengerang, is the perfect place for them to do so.

The opening of the last 27km stretch of the 77km Senai-Pasir Gudang-Desaru Expressway early this month also reduces travelling time from Johor Baru to Desaru from two hours to about 45 minutes.

The RM1.4bil expressway links Senai to Desaru in the eastern part of Johor and connects to Pasir Gudang at the Tanjung Langsat industrial area via the Pasir Gudang interchange.

The last stretch includes the 1.7km single-plane cable-styled bridge across Sungai Johor, one of the longest of its kind in the world with a 500m span.

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发表于 2011-7-12 23:38 | 显示全部楼层
UEM Land standing on the shoulders of giants      
  
UEM Land Holdings Bhd
(July 11, RM2.74)
Upgrade to buy at RM2.78 with revised target price of RM3.44 (from RM2.86): The recently announced Khazanah Nasional Bhd-Temasek Holdings joint venture (M+S Pte Ltd) to develop projects worth RM34 billion in Singapore and Malaysia should encourage more participation by Singapore property developers in Iskandar Malaysia. Most importantly, UEM Land stands to be the main beneficiary of this JV. The group will participate in the development in Marina South and Ophir-Rochor in Singapore.

We upgrade our target price from RM2.86 to RM3.44 (10% discount to realisable net asset value (RNAV) per share) as we have clearer visibility of its future earnings. Most importantly, we believe the JV between the two sovereign funds will positively impact Iskandar going forward, and UEM Land is the direct proxy and beneficiary of this event. Upgrade to “buy”.

The estimated gross development value (GDV) of the development in Marina South (two blocks of office towers and residential towers each) of about RM27 billion, with a permitted gross floor area (GFA) of up to 3.7 million sq ft, indicates a floor selling price of RM6,000 psf or S$2,500 psf. UEM Land will work with Singapore’s Mapletree Investments Pte Ltd to oversee the marketing and development of the project in Marina South.

We gather that UEM Land will also work with Singapore-based CapitaLand Ltd to oversee the Ophir-Rochor project. This project is estimated to have a GFA of 1.72 million sq ft and a potential GDV of RM7.4 billion, or S$2,000 psf. Construction is due to start in June 2012 and complete in mid-2016.

M+S, which is 60:40 owned by Khazanah and Temasek, will take charge of developing land parcels in Marina South and Ophir-Rochor in Singapore. Pulau Indah Ventures Sdn Bhd, which is a 50:50 joint venture between Khazanah and Temasek, will develop projects in Iskandar Malaysia in Johor.

Malaysia and Singapore announced the land swap deal in September 2010 and now it has materialised. UEM Land will be involved in marketing and developing both projects in Marina South and Ophir-Rochor. Moreover, we believe the incorporation of a Singapore subsidiary under Sunrise’s brand could be a prelude to potential development contracts for these projects. Assuming UEM Land taking up 60% of both developments, our RNAV could potentially increase by 25 sen from RM3.57. Both the developments contribute about 44 sen to our estimated RNAV per share.

With UEM Land’s huge landbank in Johor and Sunrise’s strong capability in developing high quality products, the merged entity could enhance and expedite the development of Nusajaya township in Johor.

The commitment from the Singapore government to jointly develop the wellness township in Medini is a positive catalyst in attracting more investors to Iskandar. Hence, it reinstates our view on asset reflation and we expect narrower land premium between Iskandar and Singapore. Also, the terminating stations of the Rapid Transit System which have been identified to be in the vicinity of JB Sentral and Republic Polytechnic in Woodlands (target operation by 2018) would also serve as a catalyst to improve the property sentiment in Johor.

We raise our FY11 to FY13 net profit forecasts by 26%, 25% and 28% after factoring in the latest project status and unbilled sales from Sunrise. We are 6% and 4% higher than consensus for FY12 and FY13. We have not factored in both the Singapore developments as there will be no material impact on earnings for FY11/FY12. However, we do see earnings upside in the next five years from the project management.

The key risk to our forecasts is the timing and take-up rates of projects.

The share price should react on positive news flow from the JV and more details on UEM Land’s participation in both the Marina South and Ophir- Rochor developments. — UOBKayHIan, July 11

http://www.theedgemalaysia.com/i ... ders-of-giants.html

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发表于 2011-7-19 19:31 | 显示全部楼层
股海宝藏:马新合作 UEM置地蓄势待发
2011/07/18 3:22:33 PM
慧眼

以市值和地库面积(超过1万英亩)计算,UEM置地控股现在是最大的产业公司。

在今年2月完成收购阳光(Sunrise)的计划后,UEM置地控股现在的市值超过115亿令吉。

最大市值和地库的产业股。UEM置地控股(UEMLand,5148,主板产业股)是马友乃德世界(UEM World)进行企业重组后,于2008年11月上市的产业公司。

它是努沙再也总发展商及主要的土地拥有人,努沙再也是依斯干达马来西亚的主要旗舰地区。

马友乃德集团(由国库控股100%持有)是持有77%股权的大股东。

以市值和地库面积(超过1万英亩)计算,UEM置地控股现在是最大的产业公司。

在2011年2月完成收购阳光(Sunrise)的计划后,UEM置地控股现在的市值超过115亿令吉。

之前,UEM置地控股在时尚综合住宅和商业发展方面缺乏经验,这是投资者关注的执行风险。

有望列综指成分股

不过,在收购阳光后,UEM置地控股基本的执行风险已经减低。

配合阳光在有关领域的广泛经验,再加上阳光的大股东拿督童贵旺也参与其中,所以阳光在将主导UEM置地控股的未来发展计划。

它最有可能被纳入成为富时吉隆坡综合指数成份股。

由于以市值而言UEM置地控股现在是交易所最大的产业股,所以它最有可能被纳入为富时的成份股。

一旦被纳入为综指成份股,UEM置地控股将是综指当中唯一纯产业股,这将提升UEM置地控股的形象及知名度,并获得溢价的估值,因为综指的30个成分股通常是作为投资组合的基准。

因马新关系改善受惠

马来西亚和新加坡政府之间签署的双边协议之后,意味着马新双边关系,包括政治和经济关系,已经出现转佳的转捩点。

国库控股和淡马锡在2011年6月27日,已经宣布联合发展位于新加坡和马来西亚的4个主要地点。这些计划总发展价值估值为270亿令吉,发展总面积为190万平方米。

国库控股和淡马锡已经联合成立两家公司,即M+S私人有限公司和Pulau Indah创投私人有限公司,股权分别是60%对40%,以及50%对50%。

M+S私人有限公司将负责发展Marina South的4块地段,以及Ophir-Rochor的两块地段,而UEM置地控股和Malpletree投资私人有限公司已经受委任为Marina South的计划经理人,以负责监督行销发展计划。至于Ophir-Rochor的工地,UEM置地控股和嘉德置地有限公司已经受委扮演同样的角色。

Pulau Indah将负责发展伊斯干达的两个地段,即位于Medini North和Medini Central的 Urban Wellness和Resort Wellness 。

这将让新加坡和依斯干达之间的资产价值得以反映出来,以及收窄两地之间的土地溢价。

利好出笼 料获上修

更多好消息即将传出以使它获得进一步的重估。

根据黄氏发展的研究报告表示,随着解决了长久以来的马来亚铁道公司的丹绒巴葛火车站的重新搬迁问题后,大马和新加坡关系改善。

至今拥有800亿令吉价值的投资承诺,超出政府预期的470亿令吉目标(2006年至2010年)。

双方在2010年6月签署的其他协议包括:

国库控股和淡马锡各占50%联手,发展依斯干达马来西亚的202公顷土地。它将在Medini North好展 Urban Wellness和在Medini Central发展Resort Wellness,发展总值预料达到30亿令吉。

● 在2018年联合发展连接新山Tanjung Puteri和新加坡兀兰之间的轻快铁站,这将让马来亚铁道公司的火车站可以迁至新山。

● 跨国的巴士服务增加8个新路线。

● 自由化跨国德士服务。

● 士古来水利工程在1961年签署的水源供应协议在2011年7月1日届满之后,由新加坡移交给马来西亚。

● 从8月1日起,两国政府将各自第二通道过路收费降低30%。

淡马锡的进入是意义重大的,因为这是新加坡首次在依斯干达马来西亚进行大规模投资。

这被视为是新加坡对这地区充满信心的象征。

新加坡积极参与依斯干达马来西亚是关键的,因为新加坡本身的土地已经不多以及价格昂贵。

其实,新加坡商家已经将营运地点迁至柔佛,因为这里拥有便宜的土地以及良好的基本设施。

【投资风险】

1. 对大型城镇发展缺乏经验。

2. 努沙再也发展需要庞大的融资。

3. 过于集中的风险(努沙再也发展占实际净资产价值的77%)。

4. 争夺政府有限的资金。

5. 马新两国关系生变。

【南洋網】

UEM置地目标价


目标价 (令吉)
大华继显  : 3.44
侨丰        : 3.52
黄氏发展  : 3.45
CLSA      : 3.63


实质净资产价值



地库/计划                             价值 RM’m
伊斯干达计划- 折扣现金流      : 3669
伊斯干达以外计划-折扣现金流 : 1042
Marina South                    : 1258
Ophir-Rochor                    : 587
未发展地库                          : 4904
其他                                   : 4623
-------------------------------------------------------
                                      16983

扣除净债务               : -241
总实际净资产价值     : 15842
未发展地库              : 4149
实质净资产价值/每股 : 3.82


资料来源:大华继显


柔佛地库增值敏感分析

土地价值            价值                  实际净资产         折扣     合理价值
变动(%)   (每平方尺令吉)  价值/每股(令吉)   (%)       (令吉)
基本例子              25                   3.82                10          3.44
+RM5                 30                    3.88               10           3.49
+RM5                 35                    3.94               10           3.55
+RM5                 40                    4.01               10           3.61
+RM5                45                     4.07                10          3.66


资料来源: 大华继显

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发表于 2011-7-19 20:13 | 显示全部楼层
2.46 进了五万张。

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发表于 2011-7-19 20:24 | 显示全部楼层
本帖最后由 derrick777 于 2011-7-19 20:29 编辑

是时候进场了吗??

今天的成交量非常高。。。

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x 15
发表于 2011-7-20 10:17 | 显示全部楼层
为了面子问题而两国交恶是最愚蠢的。
拖累了整体的经济多么不划算。

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发表于 2011-7-20 18:09 | 显示全部楼层
我就是被uemland搞死,1.54砍了。

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发表于 2011-7-24 13:47 | 显示全部楼层
今日热股:热门股 UEM置地上挑RM2.62
股市今日热股 2011-07-23 11:40

UEM置地控股(UEMLand,5148,主板产业股)闭市时报2.61令吉,起8仙或3.2%,成交量有1394万2300股。

技术点评:

UEM 置地控股于7月22日间显现着一段技术反弹趋势后于闭市时报2.61令吉,按日涨8仙或3.16%。它于昨日高开后收高,整日波幅介于7仙(2.54–2.61令吉)间。 短期间该股或会尝试上挑2.62-2.72仙间的阻力关口。

22/7/11行情

闭市:2.61令吉
起落:+8仙
最高:2.61令吉
最低:2.54令吉
成交量:139423宗
本益比:-
毛周息率:0.74%
52周最高:3.40令吉
52周最低:1.57令吉

http://www.nanyang.com/node/370499?tid=704

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发表于 2011-8-7 17:52 | 显示全部楼层
UEMLAND 都已经跌到 2.37了,现在看你自己是否有胆量赌一铺。明天uemland起还是跌?很难说,因为美国Dow Jones 星期五才起了60.93, S&P 500 跌 0.69, Nasdaq 跌 23.98.

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发表于 2011-8-9 17:54 | 显示全部楼层
UEM Land falls below RM2.30 threshold for RCPS holders      
  
KUALA LUMPUR: Shares in UEM Land Holdings Bhd have dropped below the threshold of RM2.30 for the first time since the company’s acquisition of Sunrise Bhd earlier this year. This will likely prompt holders of its redeemable convertible preference shares (RCPS) to engage in a wait-and-see exercise, as they may opt to wait for full redemption rather than convert them to shares.

Following the rapid sell-off in global equities last week, the stock fell 20 sen to RM2.37 last Friday. Amid the global rout yesterday, UEM Land’s shares fell to as low as RM2.06 before closing at RM2.16, down 21 sen for the day on a heavy volume of 43.4 million shares. It was the second most active stock.

UEM Land had late last year undertaken a conditional offer for Sunrise at RM2.80 per share. Sunrise’s shareholders were made available two options for each share: a straight share-swap exercise of 1.33 UEM Land shares priced at RM2.10 each, or 2.8 RCPS in UEM Land at an issue price of RM1.

Those who opted for the unlisted RCPS were able to convert them anytime within two years into new UEM Land shares at RM2.30 each, either in terms of 2.3 RCPS or 1 RCPS plus RM1.30 cash for each share. Alternatively, holders of the RCPS can also redeem them in full upon maturity at the end of two years.

The effective acquisition date was Jan 6 this year when the first batch of settlement for the offer shares was issued. UEM Land had then received acceptances representing 96.4% of the offer shares where 238.2 million shares and 837.1 million RCPS were issued.

On Jan 14, the notice of compulsory acquisition pursuant to Section 222 of the Capital Markets and Services Act, 2007 was posted to the remaining shareholders of Sunrise and the acquisition was completed on Feb 16.

According to an analysis of UEM Land accounts as at March 31, a total of 837.09 million RCPS and 261.88 million shares were issued for the exercise. Of this amount, 115.51 million RCPS were converted into shares in the first quarter using the RCPS plus cash option, and 239,820 RCPS converted into shares using the swap option.

The cash plus RCPS conversion, based on back-of-the-envelope calculations by The Edge Financial Daily, would have added cash of RM150.16 million to UEM Land’s coffers in the first quarter.  

After acquiring Sunrise and before the latest sell-down, shares in UEM Land have been trading between RM2.50 and RM3.25, but mostly around the RM2.70 level.

The stock had rallied strongly on the back of institutional buying interest as analysts welcomed the acquisition, which created the country’s largest property developer by market capitalisation.

Sunrise was seen to give UEM Land strong management expertise, branding and near-term earnings. The recent resolution of the railway land swap also gave UEM Land exposure to the island republic, and paved the way for more Singaporean investments into Iskandar Johor, where the company holds large tracts of land.   

“UEM Land Holdings is now able to broaden its geographical spread in its landbank to include Mont’Kiara, KLCC and Vancouver; diversify its product offerings to include high-rise residential and integrated commercial development; capitalise on Sunrise’s expertise, track record and brand equity which is recognisable and trusted by the market as well as benefit from Sunrise’s earnings visibility,” the company said.

However, with the global market sell-off and UEM Land shares falling below RM2.30, analysts said investors holding the RCPS may prefer to wait another 1½ years until the two-year period is over, and redeem their investments in full.

For the 1QFY11 ended March 31, net profit grew more than five times to RM17.6 million from RM3.14 million a year ago, after the consolidation of results from Sunrise and direct development projects in Nusajaya Johor. Revenue rose to RM187.69 million from RM39.7 million and earnings per share increased to 44 sen from 13 sen.

UEM Land said its prospects for 2011 had significantly improved with the acquisition of Sunrise.

“[This] is anticipated to better position the enlarged UEM Land group to capitalise on the upward trend in the property industry and seize opportunities in the Greater KL area,” it said.

AmResearch has a fair value of RM4 for UEM Land which is its second top pick in the property sector, after S P Setia.

http://www.theedgemalaysia.com/i ... r-rcps-holders.html

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