Blood spilling?

No blood on the street, but obviously there are some "injured"counters that were not too far off my "willing price" recently. For fun sake, and also to keep my itchy fingers off, I decided to share what are some of the companies that are cheap if they fall further. I will haphazard a  cheap price to convince myself to do nothing now. So tempted to trade. Bad Sillyinvestor 

Disclaimer: I am just sharing freely, I may or may not buy when prices are met or even below my willing price. I am not afraid to let other know what I think, if on hindsight I turn out to be a fool, go ahead  and laugh, by all means. If I happen to be right, I am just lucky.

1) Low Keng Huat.

LKH is trading at trailing yield of almost 5%. I am sure, 2015 yield will not 5%. LKH has always been fair to shareholder and payout has been 30-50%. With the windfall from Paya Lebar Sq, there should give 1-2 cents special dividend. Dividend yield will be around 8% then.

Of course, one could say what is next? Since property cycle might be turning. But I did the Maths, just the recurring income from LKH should hit 3 cents EPS 

My calculations:

Westgate:

40% share of 305,000 sq ft. 
assume $6 psf/mth, 85% occupancy
7.5 mio per year

PL retail:

55% of 88200 sg ft NLA
assume $20 psf and 85% occupancy
=9.8 mio

Vietnam hotel operation: 6 mio per year.

So, if market re-rate LKH when the bounty dividend is given out, u can get both capital gain and dividend.

For it to be 5% yielding, willing price will be 60 cents 

2) golden Agri

Palm oil prices is breaking new low, how low can it get? Any lower, the refinery margins is going to be negative and that will send weaker players packing. 

Refinery margin is only about 1% now, iirc. Dyod

Will golden Agri survive this down cycle, I think so. Bio-Disesel will not be so attractive when oil price is low, but CPO as a edible oil is still the largest and cheapest supply of edible oil, although there are no lack of substitutes.

It is trading below 0.5 NAV now, and golden Agri has a cap of 30% of earning. If only they are willing to remove this cap, but I dun think so. 

Willing price: 40 cents, yield will be in a more respectable "pay u as you wait" range of 3%

3) sembcorp industries.

I worry about the turning of O&G cycle of Semb marine, but I do not think marine will be loss-making, given the market leader status. I would like 4% yield, which mean $4 would be attractive enough. In terms of PE, it will be around 10. Cheap. 

Ya, I  dreaming.

4) starhill global

Want to own Ngee Ann City and Wisma? I would like to, starhill has a spread out finacing schedule which I like. 

Given it is in a retail business, which is rather defensive, a 7% yield would provide MOS for a fall to 6% if interest rate does raise. Oh ya, it's gearing is one on the lowest in the s- reit universe.

Willing price 72 cents.

Ok good, now I can keep my itchy fingers off. Wanted to do some switching today. So tempted.