Financial News - 30 APR 2010: Keppel Land Dividend Reinvestment Scheme - Issue price of new shares

Keppel Land Dividend Reinvestment Scheme - Issue price of new shares. See report.

Key Points

• Issue price is $3.63 for each new share.
• Issue price represents discount of 4% to the average of the daily volume weighted average price from 27 April 2010 to 29 April 2010.
• Shareholders not participating in the scheme will receive the final dividend in cash.

Author's Note
The final dividend is 8 cents per share, or S$80 per lot. For S$80, you can get about 22 shares based on the issue price of S$3.63.

The broader market was down quite significantly around 27 April 2010 to 29 April 2010 following the sell down due to uncertainty over Greece. 'Unfortunately', Keppel Land has been quite resilient for those few days, and was trading above S$3.8 at times, and was above its cousin stock Capitaland most of the time. These has probably raised the average, and thus an issue price that is not very low.

Stock Target Price - Updated Target Price for Keppel Corp following Q1 2010 results

Updated Target Price and Recommendation for Keppel Corp following release of Q1 2010 results:

OCBC    BUY    S$11.22
DMG    NEUTRAL    S$9.90
KIM ENG    BUY    S$11.07
DBS    BUY    S$11.50

Latest updates at Stock Target Price.

Financial News - 22 APR 2010: Quarterly Earnings Report for Keppel Corp

First quarter 2010 results for Keppel Corp:

• Full Report

Key Points

• Net profit improved 13% to S$322 million compared to 1Q09.
• Earnings per share of 20.2 cents, up 13% from 1Q09’s 17.9 cents.
• Annualised ROE remained above 20%.
• Economic Value Added increased from S$211 million to S$240 million.
• Cash outflow of S$501 million.

Author's Note
Prior to the announcement of results after the trading hours today, the stock has surged to a new 52 week closing high of $9.97, with an intraday high breaking the $10 mark at $10.04.

Stock Target Price - Updated Target Price for Keppel Land following Q1 2010 results

Updated Target Price and Recommendation for Keppel Land following release of Q1 2010 results:
OCBC    BUY    S$4.18
DMG    BUY    S$3.84
KIM ENG    BUY    S$4.68
CIMB    OUTPERFORM    S$4.53
DBS    BUY    S$4.13

Latest updates at Stock Target Price.

Stock Target Price - Updated Target Price for K-REIT by DBS following Q1 2010 results

Updated Target Price and Recommendation for K-REIT following release of Q1 2010 results:
DBS HOLD S$1.17

Latest updates at Stock Target Price.