Post Reply
201-220 of 689
SATS: Operating data for 3Q2010 Oct-Dec positive with increase in all measures both YTD and yoy. For the quarter on a yoy basis, services were up 4.4%, flights were up 5.8%, passengers handled were up 2.1%, cargo was up 3.2% and gross meals produced up 4.3%...
All 9M2010 results saw a yoy improvement of greater than 5%. As of last yr, meal services contributed 67.0% of rev, and gateway services 32.2%. Operating results support above Deutsche report and should guide for a better 3Q result…
SATS trading at P/E 16.76x, but has shown improvement of +50% in prev year rev compared to 08-09 figures. Based on half yr results, co is on track to meet prev yr rev figures.
// fyi, I bot this through atm almost 10 years ago at 2.50 per lot //
SATS releases 3QFY2010/11 results on 1 February 2011
Singapore, 13 January 2011 - SATS Ltd. wishes to announce that it will be releasing its financial results for the third quarter ended 31 December 2010 on Tuesday, 1 February 2011, after market trading hours.
The financial statements and press release will be made available on SGXNET and SATS' website at: http://www.sats.com.sg/newsats/investor_relations/financial_results.html
Investor & Media Contact:
Sandy Leng
SATS Investor Relations
Tel : (65) 6541 8200
Fax : (65) 6541 8204
Email : sandy_leng @sats.com.sg
Phillips recommends BUY with Target Price at $3.48
- Purchase price values TFK at Enterprise Value of ¥16.3bn (≈S$254mn).
- EV/EBITDA of 9.4X not expensive.
- Revised earnings up by 0.6%, 4.4% & 4.6% for FY11E, FY12E and FY13E respectively.
- We estimate that TFK will contribute 18.4% of Group sales, which could breach the S$2bn milestone in FY12E.
- Maintain Buy recommendation with revised target price of S$3.48.
Life Is Great
Think it is a matter of time before it will reach $3... Just my thoughts.
Hulumas ( Date: 21-Dec-2010 14:29) Posted:
| So, >Sgd. 3.0 is imminent! |
|
| SATS off 0.4%; Earnings tweaked higher on TFK buy |
| WRITTEN BY DOW JONES & CO, INC |
| TUESDAY, 21 DECEMBER 2010 15:36 |
SATS (S58.SG) off 0.4% at $2.83, giving back some of yesterday's 0.7% gain which came amid a weak market on news the company has completed the acquisition of Japan Airlines International's entire 50.7% stake in in-flight caterer TFK Corp. for $122 million.
Phillip Securities, which has a Buy call and raises its target to $3.48, says the purchase is a proxy to growth at Japan's Narita and Haneda airports. The house raises its earnings estimates for FY11, FY12 and FY13 by 0.6%, 4.4% and 4.6% respectively to account for the acquisition; it estimates TFK will contribute 18.4% of group sales, which could breach the S$2 billion milestone in FY12E.
CIMB lifts its FY11-FY13 EPS estimates 1.0%-3.0% to account for the new contributions, but maintains its Underperform call due to rich valuations "and risks of competition in ground handling."
Its raises SATS' target to $2.42 from $2.35.
/theedge/icomeireadipost/fyi
|
So, >Sgd. 3.0 is imminent!
SATS (SATS SP, $2.93, BUY, TP $3.48) – SATS’ successful bid for a controlling interest in TFK Corp, Japan’s leading airline caterer, could mark the start of more acquisitions to come. With cash so cheap, we expect the group will put its balance sheet to good use next year. It had previously narrowed down its scope of interest to the UK , Middle East and Hong Kong . Shortly after it announced the TFK deal, it incorporated an investment firm in the Middle East .
/kim eng/
/i read i post for info reading/
Kim Eng recommend a BUY with Target Price of $3.48
Strategy 2011 – Hot money will continue to flow. Interest rates will remain low. Against this backdrop, our strategy in the new year is to identify companies that are able to capitalise on their financial strength to buy growth. We pick seven daring plus-size shoppers that will justify further re-rating, not just because of their proactive pursuit of M&As and corporate restructuring, but also because of their potential to generate value for shareholders.
- Singapore Exchange (SGX SP, BUY, TP: $11.00)
- Noble Group (NOBL SP, BUY, TP: $2.58)
- Olam International (OLAM SP, BUY, TP: $3.88)
- Keppel Land (KPLD SP, BUY, TP: $5.60)
- Keppel Corp (KEP SP, BUY, TP: $12.30)
- SATS (SATS SP, BUY, TP: $3.48)- Fraser and Neave (FNN SP, BUY, TP: $7.08)Make love more, don't make more enemies
--- |
| 30 Nov 2010
Singapore |
|
SATS Ltd |
Quick takes - Acquiring 50.7% of TFK - by Ho Choon Seng CFA |
(SATS SP / SIAT.SI, UNDERPERFORM - Maintained, S$2.86 - Tgt. S$2.35, Aviation) |
|
SATS has announced that it is acquiring JAL's 50.7% stake in TFK, JAL's in-flight catering arm, for 7.8bn yen (or S$122m). Completion of the acquisition is expected in Dec 10. While we expect earnings accretion given current low returns from cash and low interest rates on debt, we are keeping our EPS estimates intact pending the release of valuation details (expected when the deal is completed). We continue to rate SATS an Underperform due to its rich valuations (vs. historical) and risks of competition from SIAEC in ground handling. Our target price is still S$2.35, based on 12.4x CY12 P/E (its historical mean since Mar 03). De-rating catalysts include an award of the third ground-handling licence at Changi Airport to SIAEC, in our view. |
/icameireadipostedforyourinfoonlynotaninvitationtotrade/
SATS, BUY S$2.86; Bloomberg: SATS SP
Price Target: S$3.13
SATS purchase JAL's 50.7% in TFK for S$122m
By: Andy Sim, CFA +65 6398 7969
· SATS acquiring 50.7% in TFK Corp for S$122m from JAL at c.1.36x P/NAV
· TFK, an inflight caterer with strong presence in Narita and Haneda
airports, serves 15m meals to >30 international airlines
· Acquisition is in line with previous call to be at other gateways
· Financial details scarce at this point, but we believe management should
have been prudent in price
SATS announced this afternoon that they have entered into an agreement to
acquire Japan Airlines International's 50.7% interest in TFK Corporation
for JPY7.8bn (S$122m).
Financial details are scarce, P/NAV c.1.36x. At this point, except for the
NAV (S$90m for 50.7%, equates to a P/NAV of 1.36x), other financial details
are scarce due to a non-disclosure agreement signed. We believe more
details could be shared after the acquisition is completed. The acquisition
is expected to be completed by Dec 2010, subject to customary closing
conditions. Upon completion, TFK will be a subsidiary of SATS. The
acquisition will be funded by internal resources and debt.
Who is TFK? TFK is a leading caterer in Japan , with a strong presence at
both Narita and Haneda airports. We understand that TFK supplies about 15m
meals annually to over 30 international airlines, including JAL and Air
France. TFK was established in 1959 by the Namaguchi family, and JAL
acquired its 50.7% stake in 2000.
In line with call to be at other gateways. The investment is in line with
the Group's stated strategy to look for suitable investment and have a
presence at gateways where its key customers are. We believe this
acquisition will further enhance the reach of its inflight catering
capabilities. At this point, it is difficult to assess the financial impact
of the acquisition as details are scarce. However, we note that management
has previously stated that no acquisition is a "must-do"; and, in our
opinion, they should have been more prudent in the acquisition price.
Maintain Buy, TP: S$3.13
//DBSV.pdf
/FYI
SATS [SATS SP] - Buy : Stop-over in Japan looks potentially attractive and accretive( S$2.86 / PT: S$3.4 )
Tanuj Shori
SATS today announced the acquisition of a c.50.7% stake in TFK (the Japanese airline caterer) for c.S$122 mn. To be funded by cash, this would help SATS expand its presence in Japan , where TFK is the largest caterer at both Narita and Haneda airports. Although SATS did not reveal financial data for TFK, our research suggests an attractive valuation for the asset, which could potentially add c.5% to SATS’ EBITDA in FY12. We reaffirm our BUY recommendation on SATS and expect consensus upgrades when TFK's financials become public./nomura
/icameireadipostedfyi only/
SATS Ltd. announced that its wholly-owned subsidiary, SATS Investments Pte Ltd, has entered into an agreement to purchase Japan Airlines International Co., Ltd’s (JALI) entire stake of 50.7% in TFK Corporation (TFK) for ¥7.8 billion (approximately S$122 million). The acquisition is targeted to complete by December 2010, subject to customary closing conditions and is not expected to have any material impact on the SATS Group’s earnings per share and net tangible assets per share for the current financial year ending 31 March 2011.
Source: SGX Masnet
SATS - Maintain Outperform by Credit SuisseRising Sun ?
The Nikkei English News on 25 November reported that Japan
Airlines Corp (JAL) is in final talks to sell its in-flight meal unit, TFK
Corp, to SATS, which was separately acknowledged by the latter
in a company press statement.
● We see this development as positive for SATS and in line with its
growth strategy to expand into regional markets. The deal, if
successful, could almost double SATS’s in-flight catering revenue
and allow it to leapfrog into the Japanese aviation market, where it
currently has no presence.
● On a standalone basis, and assuming similar profitability for TFK
versus other food companies, we estimate the deal is likely
accretive only if it was valued below Y10 bn, with TFK’s net
margins exceeding 5%. Valuations could be more attractive with
potential revenue and scale synergies over the medium term.
● We maintain that SATS remains a key beneficiary of the Asian
tourism theme. Valuation at 15x FY11E P/E, on 5-6% dividend
yield and three-year average 6.0% FCF yield, is undemanding, in
our view. Our DCF-based
target price is S$3.40; maintainOUTPERFORM. Make love more, don't make more enemies
SATS Ltd.
said that newswire reports cited that Japan Airlines International Co., Ltd (“JALI”) is finalising its sale of its in-flight meal unit, TFK Corporation (“TFK”) to
SATS. SATS is currently in advanced discussions with Enterprise Turnaround Initiative Corporation/JALI in connection with the acquisition of JALI’s
stake in TFK. However, no definitive agreement has yet been reached and the transaction may require regulatory, legal and other relevant approvals and conditions.
Accordingly, shareholders are advised to refrain from taking any action, which may be prejudicial to their interests, and to exercise caution
when dealing in the shares of the Company.
Source: SGX Masnet
/i came i read i posted fyi only/////////////////////
this stock looks good leh but how come like low volume counter? any thoughts?
Went in at 2.88 x 10. Good stock to go long.
Dividend 13 cents per year.
