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CapitaMalls Asia: Interim dividend of 1.625c per share.

Thursday, July 26, 2012

Hurrah!

CapitaMalls Asia posted profit after tax and minority interests (PATMI) of $232 million for 2Q 2012, an increase of 40.7% from the $164.9 million for 2Q 2011.

Earnings before interest and tax (EBIT) were $283.8 million for 2Q 2012, 33.4% higher than the $212.8 million for 2Q 2011.

CapitaMalls Asia has declared an interim dividend of 1.625 cents each.



15 comments:

Jay said...

Yippiee!! CMA is my cornerstone growth investment.. I continue to believe in the long-term story of building and operating malls in SG and China over the coming 5-10 years...

AK71 said...

Hi Jay,

Like you, I believe in CapitaMalls Asia's strategy and growth story. I would not be surprised if it would be worth 2 or 3 times more in the next 5 years.

I would look out for opportunities to accumulate again on weakness. :)

FoodieFC said...

Hi AK71

Thanks for the good news woohoo! How do you keep yourself so updated with all the CD!

When China take off it will be worth more

AK71 said...

Hi FoodieFC,

I spend quite a bit of time reading stuff online on a daily basis. On some days, it might not be possible to do so or I might just feel like having a break. So, I do miss out stuff and would need readers to help with some misses from time to time. ;p

CMA is for the patient investor. Believe it. :)

INVS 2.0 said...

Hi Ak71,

What's an interim dividend? How does it compare to a full dividend?

AK71 said...

Hi INVS 2.0,

Interim dividends are dividends paid before the close of a company's financial year. This is different from a final dividend which is paid after the financial year has closed.

CMA looks set to pay an interim and a final dividend. :)

JCK said...

Is this stock code C38U?

Appears its not a dividend stock?

AK71 said...

Hi JCK,

The code on my trading platform says JS8.

This is a growth stock. :)

INVS 2.0 said...

Hi Ak71,

Does it mean CMA is not so much of the lowest dividend yield REIT afterall? I could have considered this one. :D

AK71 said...

Hi INVS 2.0,

CMA is definitely not a REIT although it has substantial stakes in a few REITs. It develops and incubates properties to divest to these REITs. That is how it makes its money.

You could say it is further upstream. :)

JCK said...

Oppps a different one

Was looking at CapitalMall Trust!
:)

AK71 said...

Hi JCK,

Oh, CMT. :)

CMA is the sponsor of CMT.

FoodieFC said...

Hi AK

Reading the comments, Does it meant CMT is better than CMA?

What is the main diff?

AK71 said...

Hi FoodieFC,

CMT is a REIT. CMA is a company.

We would invest in CMT primarily for income. We would invest in CMA primarily for growth.

So, they suit different purposes.

I believe that CMA's value would only grow over time as its malls in China mature. It would then offload these to CRCT.

CMA continues to be a stock which would be good to increase exposure to if there is a meaningful correction in its share price, imo. :)

AK71 said...

Citigroup starts CapitaMalls Asia at Buy with a $2.08 target, saying its premium valuation over peers is well-justified by its solid management team, and citing a balance of growth and defensiveness.

“CMA is a top-class retail mall developer/operator in Asia with a scalable high-quality portfolio. As the retail arm of CapitaLand, CMA has achieved a fast-growth trajectory over the buoyant consumerism in Asia, especially China. Its modern and professional expertise in retail property management and multiple financing channel differentiate it from many retail property plays.”

It says CMA’s solid record is proved by its sizeable 100-mall portfolio it directly and indirectly owns and manages, with 74 operational and 26 under development. It forecasts 13% FY11-14 CAGR on rental and management-fee income, while its robust china expansion will fuel a stable 11% FY12-14 earnings CAGR.

“We see its recent acquisition of a new Qingdao project, teaming up with residential giant Vanke, as ‘win-win’ for its expansion in China. That said, relative to pure-China plays, CMA stands out with a more balanced portfolio, with exposure to more resilient markets like Singapore and Japan.”


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Tuesday, 16 October 2012

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