$SPH(T39) looks relatively yummy at 5.5% yield and current valuation.

Same dividend yield as SPH Reit.

Going to Q at 3.05 to support this down and out old turtle stock.

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420 comments
Richboyjudson

Can an old forks run and where can they go???

livelifefreely

Privatise SPH and merge with MediaCorp. No solutions, run away. Like SMRT.

Fries

Reply to @livelifefreely : this is highly likely. since both are serving the same purpose

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Richboyjudson

SPH should wake up, don't sleep show some results Please......

Sporeshare

Reply to @poorboyjudson : Result will come in for the 4th qtr net profit rise due to divestment gain ..may be got chance for a small SD.

Fries

Reply to @layers : can claim the expense from some scheme, under automation or productivity improvement

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Sporeshare

It might be a good time to look at this overly beaten counter.Seems like a reversal play ..

2V_

Reply to @Sporeshare : Algo makes 2.3 cts per transactions long / short intra day strategies. May go up to 10-100 trades per day. 2-3 cts x 10-100 trades = XXXXX - losses - transaction cost =?

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2V_

SPH reach book value, or change New CEO, I sure buy!

Sporeshare

Reply to @2V_ : Book value I.e. 2.08.. Like that will be deep into crisis ..

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Richboyjudson

All my $$$ parking and waiting for up up up

Richboyjudson

Everythings up then why SPH no up.....

Sporeshare

Reply to @Turtle_Investor : I didn't know they do own Yeos .Tks for sharing!

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luxcan

SPH should have hired someone who has more experience in the media industry. Singapore isn't progressing as fast as last time and it is no longer "all right" to slot generals into management position.

Totally agree with this article.
http://limdershing.blogspot.com/2017/05/fi...

luxcan

Reply to @Amethyst : The biggest problem is that SPH keep arguing that traditional media owners all over the world experience declining revenue but yet failed to highlight that unlike others, SPH has a monopoly over Singapore news. It also own several strong local digital platforms like hardwarezone, shareinvestor etc. They should focus more into online digital advertising by learning on how to leverage on their data and make it available to ad agencies in real time (imagine facebook advertisement).

Imagine advertisers wake up in the morning and are given the option to target users cross platform. For example, pub owners can put up ads advertising that their pub has EPL screening for users who visit the media' soccer section (across TNP, Straits Times etc). Or property developers can target users that visit investing platform like shareinvestors/hardwarezone - investing section or read business times (or can have both as criteria to better define the user groups).

The current CEO isn't someone who can innovate and I believe he can be a good executor. What Temasek need to do is to inject someone with online digital advertising experience into the board of directors.

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Indigo

I have just written a long analysis of this company today. In summary, this is a great time to short sell it:
1) It is entering the property development (property developers typically trade at 0.7x book price) and REIT (which typically trade at 1x book value). Currently the shares are trading at 1.45x book value.
2) It is going to be booted out of the STI if its price continues to fall. ETF managers will be forced to sell. [corrected an earlier erroneous statement]
3) It is going to cut dividends to a more sustainable level, maybe to 3.3% yield at the current price. Dividend investors will sell.

Indigo

Reply to @2V_ : Yes, $3.30 would be a better point just as it broke support, but I had not been paying attention to SPH at that time. Later on, I had wanted to short at $3.15 but my funds got held up at the brokerage due to some admin issues with opening a CFD account and liquidating a stock I pledged in my margin account.

Hence, I was only able to short at $2.98. Despite that, if my fundamental analysis is correct then it should continue sliding to around $2.80 in the next few weeks. As I am trading on my own, I don't have any insider information so that can be a big handicap to me.

Below is a slightly different chart for SPH - it has been adjusted for dividends. SPH looks a little high to me from this perspective.

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Recommended & Related Posts

Boring Turtle's positions

Updated as of Mar 2019

$Far East Orchard(O10.SI)
$Straits Trading(S20.SI)
$SPH(T39.SI)

Did not add any new buys since Jan 2019. Looking to dispose KepCorp and SPH by this year to raise more funds for physical property purchase.

Plannning to keep STC and FEO as longer term core holdings.

Intend to have at least 200k investment portfolio capital to at least be able to grow the portfolio back to 500k. 留得青山在,不怕没柴烧。

Average annual dividend yield around 3% to 4%.

You define yourself as investor or trader before you decide whether to hold, cut or add to your positions.

Don't waste too much money paying unnecessary brokerage fees.

Convicted to your picks if nothing fundamentally changes, everything else remains equal and with a lower stock price, Mr Market is giving us an opportunity.

If you cannot sleep at night, cut and run, nothing more important than our own health.

Turtle's Style

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Expiry:
Target Price
$2.65
(+9.05%)
NOW:

Super bearish but old Turtle like it.

Not 1 year low, Not 5 year low, its bloody nearly GFC low from chart perspective of course valuation would had been different between now and then.

Bloody Mgmt still don't want to conduct share buyback.

Dividend Payout: 75%
Yield: 5.3%
DPS: 13 cents

Remember every stock (except lemons) is attractive at a certain price. Loh Soh Turtle once again.

Turtle's calculative and contrarian view. IMHO, I don't see a huge downside from current level.

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Expiry:
Target Price
$2.684
(+2.05%)
NOW:

Will it raise tomorrow 1 day before XD (7 cents) on 6-Dec 2018?

Got 10000 shares at closing at 2.63 today (quite lucky that they didn't give me 1000-2000 shares, lol).

** Deleted my previous estimation as I put 3.67 (LOL) in error **

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Expiry:
Target Price
$2.729
(+2.98%)
NOW:

Here Old Turtle goes again ..... Entered 10k shares @ 2.64

Will make profit from 2.66 onward.

Huat ah!

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Expiry:
Target Price
$2.68
(+2.29%)
NOW:

Contra trade 10,000 shares @ 2.62 for T+5 days. Let's see how it goes. Supported by 7 cents dividend til XD in Dec.

Contra Turtle in actions.

IN Restriction: Market estimation target price needs to be higher than current price 2.62 by 2% at 2.672

My TP price is actually 2.65, I will make profit from 2.64 onward.

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