Quick updates

Rather busy, and fell ill. So I shall log down my personal quick views of some of my stocks which has just reported their results.

Starhub
5cts dividend announced.
Net profit fell, EPS drop to 3.39 cts. However, this is because Starhub does not amortize the smartphones sold over 2 years, but recognized it immediately. I expect a much higher EPS over the next few quarters because of this.

A few things to take note for the following quarter:
(i) How loss of EPL will affect its pay TV revenue
(ii) How Next Generation Network will affect Starhub
(iii) How the new law that enables M1 to join the payTV will affect Starhub.

Overall, I will treat this is neutral and within expectations.


Aztech
0.3 cts dividends announced.
As expected, LED segment was profitable. More contracts from HDB announced. Given the number of HDB blocks around, this segment could be still rather profitable for the next few quarters. It's strength in the electronic segment is maintained.

Marine Logistics segment was rather stable in revenue. The most worrying is the Material Supply segment. Aztech has not secured any new contracts for 2 quarters. I might divest Aztech for a better yielding stock if they cannot secure any new contract by the next 1 or 2 quarters.

CapitaCommercial Trust
3.91 cts dividends announced.
Nothing much to crow about. 2 properties were sold during the last quarter.
Results are all in line, and secondary reports from banks are all in favour of CapitaComm over other REITs.

With the gearing, CapitaComm has the flexibility to further leverage up to acquire more yield accretive assets.

Starhill
0.91 cts dividends announced
Drop in dividends is because of increased number of units (due to newly issued CPU for Malaysian assets purchase). However, pro forma calculations suggested 1.05 cts dividends for the next few quarters. Hopefully this will come true.

With the gearing, Starhill has the flexibility to further leverage up to acquire more yield accretive assets.

AIMSAMPIREIT
0.5376 cts dividends announced.
Nothing surprising. Dividends same as previous quarter.

At <30% gearing, the flexibility to leverage up for yield accretive acquisitions is higher than Starhill. Industrial buildings are also more stable income investments in my opinion.

ST Engg
3 cts dividends announced.
Net profit increased 34% over previous quarter.

A quick glance shows that results were very good, and management expects next half of 2010 to record higher profits than the first half. A defensive blue chip in my opinion.


In total, I will have about 1.5k dividends coming in between August and September. This excludes CitySpring's and Keppel Green Trust's as they have yet to announce their results and dividends