Singapore property prices to stay resilient?

If the latest report by Maybank is correct, then, the expected 20 to 30% decline in Singapore property prices over the next couple of years might not transpire. The expectation is now for a mere 10% decline in property prices over the next 18 months. This suggests that any dip in prices could see showflats packed with buyers again.

Related post:
Affordability of housing in Singapore.

Singapore residential sector to see soft landing. Shares in CapitalMalls Asia have jumped nearly 32% this year, while CapitaLand rose 22% and Keppel Land is up nearly 39%.
Tuesday, 19 June 2012

© 2012 - The Edge Singapore

Marco Polo Marine: Persistent insider buying.

I find Marco Polo Marine, an offshore and marine company, a rather interesting proposition at current prices of 31.5c to 32.5c a share.

1. PER of about 8x
2. Net profit margin just under 20%
3. NAV per share at 37c
4. Interest cover ratio at 8.3x
5. Gearing at 30%

Marco Polo Marine has the intention of listing an Indonesian subsidiary on the Jakarta Stock Exchange. This could unlock value as Kim Eng estimates the listing could value the company's stake in the Indonesian subsidiary at more than 30% of the company's current market cap.

Perhaps, it is the persistent insider buying over the last 12 months that really nailed it for me here:

Announce Date [Date of Effective Change]	Buyer/ Seller Name [Type*]	S/ W/ U **	Bought/ (Sold) ('000)	Price ($)
					After: No. of Shares ('000) ***	% Held ***
05/06/12 [05/06/12]	LEE WAN TANG [DIR]	S	1,095	0.325	195,311	57.02
05/06/12 [05/06/12]	NAUTICAL INTERNATIONAL HOLDINGS LTD [SSH]	S	95	0.325	191,399	56.17
01/06/12 [01/06/12]	LEE WAN TANG [DIR]	S	110	0.335	194,216	57.00
01/06/12 [01/06/12]	NAUTICAL INTERNATIONAL HOLDINGS LTD [SSH]	S	110	0.335	191,304	56.14
16/05/12 [16/05/12]	LEE WAN TANG [DIR]	S	114	0.340	194,106	56.96
16/05/12 [16/05/12]	NAUTICAL INTERNATIONAL HOLDING LTD [SSH]	S	114	0.340	191,194	56.11
10/05/12 [10/05/12]	LEE WAN TANG [DIR]	S	100	0.340	193,733	56.85
10/05/12 [10/05/12]	NAUTICAL INTERNATIONAL HOLDING LTD [SSH]	S	100	0.340	191,080	56.08
15/12/11 [14/12/11]	LEE WAN TANG [DIR]	S	159	0.335	193,892	56.90
14/12/11 [13/12/11]	LEE WAN TANG [DIR]	S	100	0.335	193,733	56.85
05/12/11 [02/12/11]	LEE WAN TANG [DIR]	S	100	0.341	193,633	56.83
05/12/11 [02/12/11]	NAUTICAL INTERNATIONAL HOLDINGS LTD [SSH]	S	100	0.341	190,980	56.05
02/12/11 [02/12/11]	LEE WAN TANG [DIR]	S	70	0.345	193,533	56.80
02/12/11 [02/12/11]	NAUTICAL INTERNATIONAL HOLDINGS LTD [SSH]	S	70	0.345	190,880	56.02
28/11/11 [28/11/11]	LEE WAN TANG [DIR]	S	11	0.330	193,463	56.77
28/11/11 [28/11/11]	NAUTICAL INTERNATIONAL HOLDINGS LTD [SSH]	S	11	0.330	190,810	56.00
28/11/11 [25/11/11]	LEE WAN TANG [DIR]	S	500	0.330	193,452	56.77
28/11/11 [25/11/11]	NAUTICAL INTERNATIONAL HOLDINGS LTD [SSH]	S	500	0.330	190,799	55.99
07/09/11 [06/09/11]	LAI QIN ZHI [DIR]	S	71	0.337	192,952	56.63
07/09/11 [06/09/11]	LAI QIN ZHI [DIR]	S	100	0.343	192,881	56.60
07/09/11 [06/09/11]	LEE WAN TANG [DIR]	S	71	0.337	192,952	56.62
07/09/11 [06/09/11]	LEE WAN TANG [DIR]	S	100	0.343	192,881	56.60
07/09/11 [06/09/11]	NAUTICAL INTERNATIONAL HOLDINGS LTD [SSH]	S	100	0.343	190,299	55.85
05/09/11 [02/09/11]	LAI QIN ZHI [DIR]	S	117	0.350	192,781	56.58
05/09/11 [02/09/11]	LEE WAN TANG [DIR]	S	117	0.350	192,781	56.58
31/08/11 [29/08/11]	LEE WAN TANG [DIR]	S	100	0.350	192,664	56.54
31/08/11 [29/08/11]	NAUTICAL INTERNATIONAL HOLDINGS LTD [SSH]	S	100	-	190,199	55.82
29/08/11 [26/08/11]	LEE WAN TANG [DIR]	S	64	0.345	192,564	56.51
25/08/11 [25/08/11]	LEE WAN TANG [DIR]	S	299	0.338	192,500	56.49
25/08/11 [25/08/11]	NAUTICAL INTERNATIONAL HOLDINGS LTD [SSH]	S	299	-	190,099	55.79
24/08/11 [23/08/11]	LEE WAN TANG [DIR]	S	50	0.340	192,201	56.41
23/08/11 [22/08/11]	LEE WAN TANG [DIR]	S	251	0.332	192,151	56.39
22/08/11 [19/08/11]	LEE WAN TANG [DIR]	S	170	0.333	191,900	56.32
19/08/11 [18/08/11]	LEE WAN TANG [DIR]	S	300	0.347	191,730	56.27
21/06/11 [20/06/11]	LEE WAN TANG [DIR]	S	100	0.374	191,430	56.18
20/06/11 [17/06/11]	LEE WAN TANG [DIR]	S	150	0.373	191,330	56.15
16/06/11 [15/06/11]	LEE WAN TANG [DIR]	S	120	0.376	191,180	56.10
14/06/11 [13/06/11]	LEE WAN TANG [DIR]	S	150	0.377	191,060	56.07
10/06/11 [09/06/11]	LEE WAN TANG [DIR]	S	100	0.386	190,910	56.02
07/06/11 [06/06/11]	LEE WAN TANG [DIR]	S	200	0.385	190,810	56.00