$CityDev (C09.SG)$Stock price has stabilised. Waiting for ST...
$CityDev (C09.SG)$Stock price has stabilised. Waiting for STI to turn green and rebound above 3200 again. Down fast and up fast too for City Dev.
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103963475 : BlackRock also run alr, why r u still so positive? JP said will hold rate higher & longer. When rate is hold higher & longer, banks & property developers will suffer. Bank suffers due to the long term US bond that they invested. Property developer suffers due to higher borrowing cost to run their business going forward. This counter has been downtrending for quite sometime. To buy & make $ against the trend is difficult! Just my few cents of thought.
Deep Sea OP 103963475 : City Dev is no longer a pure property developer just building residential condo to make money. It has already diversified into hotel business where tourism has flourished after border reopened. It ihas recurring income from leasing commercial properties too. Its earnings is diversified. The residential properties are still doing well in SG despite the cooling measures. There are still HDB upgraders who are waiting to buy private condos. First time buyers don’t have to pay stamp duty. Despite high interest rates, the company has strong cash flow that can ride out the rate hike cycle. Its RNAV is around $16.98. Based on the current share price, it is trading at big discount to RNAV.
Deep Sea OP 103963475 : DBS did not hold much US bonds. It is making big money when interest rate goes high. Its NIM is high. Half year earnings hit $5.2 billion which is a lot and it is giving out very good dividends from profits made. The US bonds drop have not much impact on DBS. The bonds impact mainly the US banks that are holding them and they are on big paper loss when bonds are currently crashing.
Deep Sea OP 103963475 : For those who can hold long term don’t have to worry about the short term macro factors. Rate hike cycle is coming to an end in Nov at terminal rate 5.6%. Next year, FED expects to have rate cut down to 5.1%. This will be beneficial to stock markets next year. Those who have the holding power will win.
103963475 Deep Sea OP : What did holding power for CityDev win? Btw, u r investing or speculating? If u r investing, do u know that CityDev needs 27 years to recover all ur capital. Why 27 years? Refer to PE ratio. By holding US$ in the fixed deposit of around 5%, u just need 20 years or less. Why need to risk ur $ to buy stocks/shares when u can make more $ in fixed deposit? Which is a safer bet, CityDev or Fixed Deposit?