Singapore and emerging market real estate

Royston Foo

Equity Bottom-Up

Late last night, <a href="https://www.smartkarma.com/entities/1097" target="_blank" data-smartkarma-citation="entities:1097:1">Oxley Holdings Ltd (OHL SP)</a> announced that the consortium comprising Oxley, Min Dharma Co., Ltd. and Sino Great Wall Co., Ltd. has been selected as the “Preferred Bidder” for the Yangon Central Railway Station Area Comprehensive Development Project. The award of the contract is still subject to the completion of negotiations and legal arrangements.<figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/044/673/original/Central%20Railway%20Development.jpg?1518698570" class="editor-image img-responsive" data-smartkarma-image-id="44673"></figure><div class="content-caption">Central Railway Station Development</div>As mentioned in my earlier insight – <a href="https://www.smartkarma.com/insights/yoma-strategic-final-shortlists-for-yangon-central-railway-development" target="_blank" data-smartkarma-citation="insights:16546">Yoma Strategic – Final Shortlists for Yangon Central Railway</a>…

Late last night, Oxley Holdings Ltd (OHL SP) announced that the consortium comprising Oxley, Min Dharma Co., Ltd. and Sino Great Wall Co., Ltd. has been selected as the “Preferred Bidder” for the Yangon Central Railway Station Area Comprehensive Development Project. The award of the contract is still subject to the completion of negotiations and legal arrangements.Central Railway Station DevelopmentAs mentioned in my earlier insight – Yoma Strategic – Final Shortlists for Yangon Central Railway…

Yoma Strategic - Losing Out on the Yangon Central Railway Tender

I was in Yangon over the weekend and took the opportunity to look at the progress of Yoma Central, the US$700 million mixed-use development by <a href="https://www.smartkarma.com/entities/65" target="_blank" data-smartkarma-citation="entities:65:1">Yoma Strategic Hldgs Ltd (YOMA SP)</a> and FMI in Yangon’s downtown central business district.As per management’s guidance in November 2017, construction work has already commenced, including the demolition of FMI Centre and Grand Meeyahta Executive Residences, test piling, storm drain diversion and the construction of a culvert under the Bogyoke Aung San…

I was in Yangon over the weekend and took the opportunity to look at the progress of Yoma Central, the US$700 million mixed-use development by Yoma Strategic Hldgs Ltd (YOMA SP) and FMI in Yangon’s downtown central business district.As per management’s guidance in November 2017, construction work has already commenced, including the demolition of FMI Centre and Grand Meeyahta Executive Residences, test piling, storm drain diversion and the construction of a culvert under the Bogyoke Aung San…

Yoma Strategic – On the Ground Update on Yoma Central Development Progress

The Union Government of Myanmar will select a winner for the tender of the Yangon Central Railway Comprehensive Development Project by next month and Yoma Strategic/FMI is likely the frontrunner for this project. Base on a back-of-the-envelope calculation, there is a potential NAV accretion of 20% to 37% to Yoma Strategic if it takes a 48% interests in the project. At current price level of S$0.54 per share, there may be potential short-term trading opportunity to position for a possible announcement on the award of the tender to Yoma Strategic/FMI.

The Union Government of Myanmar will select a winner for the tender of the Yangon Central Railway Comprehensive Development Project by next month and Yoma Strategic/FMI is likely the frontrunner for this project. Base on a back-of-the-envelope calculation, there is a potential NAV accretion of 20% to 37% to Yoma Strategic if it takes a 48% interests in the project. At current price level of S$0.54 per share, there may be potential short-term trading opportunity to position for a possible announcement on the award of the tender to Yoma Strategic/FMI.

Yoma Strategic – Final Shortlists for Yangon Central Railway Development

SGX Market Strategist, Equity & Fixed Income, Singapore Exchange Ltd (SGX)

Geoff Howie

SGX Market Strategist, Equity & Fixed Income

Asia’s leading multi-asset exchange

Singapore Exchange Ltd (SGX)

Singapore Exchange is Asia’s leading and trusted market infrastructure, facilitating the exchange of capital and ideas to create value for people, businesses and economies. As a multi-asset exchange operating equity, fixed income and derivatives markets to the highest regulatory standards, SGX is a vertically integrated business that provides listing, trading, clearing, settlement, depository and data services.

With about 40% of listed companies and over 80% of listed bonds originating outside of Singapore as well as established linkages across the region and in Europe, SGX is Asia’s most international and connected exchange. Offering a full suite of derivatives products across Asian equity indices, commodities and currencies, SGX is the world’s most liquid international market for the benchmark equity indices of China, India, Japan and ASEAN.

As Asia’s pioneering central counterparty, SGX is globally recognised for its risk management and clearing capabilities, and was one of the first globally to adopt the Principles for Financial Market Infrastructure.

Headquartered in AAA-rated Singapore, SGX has over 800 employees including offices in Beijing, Chicago, Hong Kong, London, New York, Mumbai, San Francisco, Shanghai and Tokyo.

Ying Li International Real Estate (YINGLI SP)

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Real Estate Managers & Developers Led the STI in 2017 YTD

Asian Insight Provider - Actionable ideas, CrossASEAN Research

Henry Soediarko

Asian Insight Provider - Actionable ideas

<a href="https://www.smartkarma.com/entities/5206" target="_blank" data-smartkarma-citation="entities:5206:1">Singapore Myanmar Investco Ltd (SMI SP)</a> has 5 main business units (tourism, heavy machinery, car rental, telecommunication, and storage) that fulfill at least one of the following criteria; leadership position, early-mover advantage, and monopoly position. Despite the small market capitalization, the company boasts market leadership and monopoly in the business areas they operate combined with a highly adequate management team with previous experience that is transportable to the current SMI business. An hour spent on face to face meeting with the CEO has shed more lights on how the company operates its various business units and its market position in Myanmar. Some of the internationally acclaimed names SMI has managed to bring to Myanmar include Crystal Jade, Ramen Ippudo, Sany Heavy, EuropCar and Duty-Free Shop.

Singapore Myanmar Investco Ltd (SMI SP) has 5 main business units (tourism, heavy machinery, car rental, telecommunication, and storage) that fulfill at least one of the following criteria; leadership position, early-mover advantage, and monopoly position. Despite the small market capitalization, the company boasts market leadership and monopoly in the business areas they operate combined with a highly adequate management team with previous experience that is transportable to the current SMI business. An hour spent on face to face meeting with the CEO has shed more lights on how the company operates its various business units and its market position in Myanmar. Some of the internationally acclaimed names SMI has managed to bring to Myanmar include Crystal Jade, Ramen Ippudo, Sany Heavy, EuropCar and Duty-Free Shop. 

Want to Make Money in Myanmar? Visit Sing-Myanmar Please...

Singapore

Yoma Strategic Holdings Ltd. is an investment holding company with a primary focus on Myanmar, operating across real estate, financial services, consumer, and automotive sectors. Its diverse portfolio includes property development, mobile financial services, vehicle leasing, and food and beverage operations. The company was incorporated in 1962 and is headquartered in Singapore.

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Yoma Strategic (YOMA SP)

Yoma Strategic - Losing Out on the Yangon Central Railway Tender

Late last night, Oxley Holdings Ltd (OHL SP) announced that the consortium comprising Oxley, Min Dharma Co., Ltd. and Sino Great Wall Co., Ltd. has...

Royston Foo

Yoma Strategic – On the Ground Update on Yoma Central Development Progress

I was in Yangon over the weekend and took the opportunity to look at the progress of Yoma Central, the US$700 million mixed-use development by Yoma...

Royston Foo

Yoma Strategic – Final Shortlists for Yangon Central Railway Development

The Union Government of Myanmar will select a winner for the tender of the Yangon Central Railway Comprehensive Development Project by next month...

Royston Foo

Real Estate Managers & Developers Led the STI in 2017 YTD

Singapore Exchange Ltd (SGX)

Want to Make Money in Myanmar? Visit Sing-Myanmar Please...

Singapore Myanmar Investco Ltd (SMI SP) has 5 main business units (tourism, heavy machinery, car rental, telecommunication, and storage) that...

Henry Soediarko

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52-week Range

Market Cap (USDm)

P/E

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