$SINGTEL(Z74.SI)$by dbs research1QFY22 numbers are towards the upper end of our expectations• Singtel's 1QF22F underlying net profit of S$451m (+31% y-o-y) was towards the upper end of our estimate of S$430m-S$450m• Sharp recovery in Australia, profit turnaround of Bharti and stabilization of Singapore were key drivers. • Maintain BUY with unchanged TP of S$3.01 for over 28% upside potential and 3.6% yieldSingtel's 1QF22F underlying net profit of S$451m (+31% y-o-y) was towards the upper end of our estimate of S$430m-S$450m and comprised 22% of our full year estimate. What stood out was a big rise in Australia consumer operating profit to S$44m (excluding National Broadband Network migration revenue) compared to S$26m in 4Q21 and operating loss of

$SINGTEL(Z74.SI)$has been on a strong uptrend but formed a shooting star candle with high volume on 12 may 2022. This bearish candle with high volume suggests that big boys could be unloading. Coupled with today's big black candle, it confirms the occurrence of a short term top. Switch to the weekly chart and a shooting star candle stands out.Fellow tigers who have enjoyed the ride may consider taking profit and buy back during a pullback. 

$UNITED OVERSEAS BANK LIMITED(U11.SI)$has pulled back over 10% since hitting a lower high at $32+ in 2nd half of Mar 2022. It has rebounded off the white long term moving averages. On 20 May 2022, the dual William %R indicators (cyan and purple lines) crossed under 80 level, which signify a rebound could be coming. The previous time it crossed under 80 level was on 9 Mar 2022 where it caught the rebound from $29 to $32+. CCI indicator in blue also crossed above -100, signifying a buy. A cross down below 100 signify a sell. In addition,  parabolic SAR also shows the first red dot which signify that a uptrend could be starting. Investors who are bullish on UOB should also note  the 2 green downtrend lines, and the mid term

$SINGTEL(Z74.SI)$After being stuck in a 2 year consolidation range, Singtel has finally broke above the $2.58 resistance zone. It is now supported by the short term uptrend line and  the $2.58 zone, which has now turned support.  There's much news on Singtel lately, the notable ones include:- Acquisition of IT services consulting company Dialog Pty Ltd- Acquisition of Australia Telco Infrastructure provider Axicom for A$3.6bil by Singtel's ATN- Acquisition of Australian digital services company ARQ for A$290mil by Singtel's NCS- Grab-Singtel among favorites to bag Malaysia's first digital banking license- Redevelopment of Comcenter HQ for over $2bilSingtel is forging ahead with its growth path and reopening of air travel means its

$MAPLETREE INDUSTRIAL TRUST(ME8U.SI)$has broken out of a multi month downtrend and started a short term uptrend. Since getting rejected at 2.72 which is also the previous horizontal resistance at 2.72, price has been trending down gradually. The price is expected to be supported by 2.62 horizontal support, which provides a decent yield of 5.1% at about annual 13.4c dividend. Fundamentally,  this quality REIT has a strong sponsor and been growing its dividends year after year. Recently it has also been growing its data center portfolio and could be a good data center play given its higher dividend yield than the other 2 sgx listed data center reits.

$MAPLETREE INDUSTRIAL TRUST(ME8U.SI)$has retraced to the $2.62 support mentioned in my previous post. It reported distribution per unit (DPU) of 3.49 cents for its 4QFY2021 ended March, bringing its full year dividend distribution to 13.8 cents. This is 10% higher than the full year dividend paid out in FY2020.Meanwhile, DBS has lowered its target price to S$3.05 from S$3.35 after cutting its earnings estimates on higher cost assumptions but maintains a buy call. Utility costs – which DBS expects to rise 2 to 3 times when contracts are due – are estimated to be 1 per cent of MIT's revenue. As such, DBS has cut its FY2023 estimates to account for the hike in utilities costs. Nevertheless,  I am optimistic that MIT will b

$SINGTEL(Z74.SI)$has pulled back to $2.59 (10% retracement) since hitting $2.88 high. The $2.80 region was also the previous pre-covid support region now turned resistance. Note that the $2.59 region has been a strong resistance where Singtel spent 1.5 yrs within the sideways range. It has now turned support and likely to be further tested these 2 weeks. A break of $2.59 could see the next support at $2.52.There was high volume on 31 May 2022 with 68mil shares transacted at closing. This is likely due to funds performing month end rebalancing and not due to bad news. Recent news on Singtel partnering Micron to deploy 5G mmWave solution and Redevelopment of Comcenter are positive although not immediately earnings accretive. Singtel

$MAPLETREE INDUSTRIAL TRUST(ME8U.SI)$Reason for buying:1) Dividend 5.2%2) Quarterly dividend payout3) PB 1.37Although the PB is above 1.0 (not really my style to buy REIT above PB 1.0), however given that the Data Centres portfolio is 53% of the AUM, I find this PB1.37 is justifiable.  For comparison, although not apple to apple, Keppel DC Reit PB at 2.0 / Digital Core Reit PB at 1.42 / Ascendas Reit PB at 1.22http://compoundingdividendxdividend.blogspot.com/2022/01/added-mapletree-industrial-trust.html?m=1

$CapLand IntCom T(C38U.SI)$Since hitting 1.92 low in early Feb 2022 on fears of steeper than expected interest rate hikes, CICT has been on a relentless upward climb aided by reopening news and return back to office. In early Apr 2022, it touched the 2.30s upper bound of the horizontal trading range but has since got rejected. The 2.32 region is also a support in 2019 that has now turned resistance. Aided by increasing rents and yield accretive acquisitions, it should only be a matter of time before CICT trades at 2019 levels again. Any retracement is likely to be supported around the 2.10 to 2.15 region where it traded for a good portion of 2021, barring any steeper than expected interest rate hikes. Assuming 10.4c annual divide

$HOTUNG INVESTMENT HLDGS LTD(BLS.SI)$Earnings up 4x