Bank Negara Indonesia (BBNI IJ/BUY/Rp5,250/Target: Rp6,300): 1Q24: Net profit up 2.0% yoy, lower CoC drives net profit growth. Cisarua Mountain Dairy (CMRY IJ/BUY/Rp4,980/Target: Rp5,500): 1Q24: NPAT up 30% yoy – ahead of consensus expectation. PP London Sumatra (LSIP IJ/HOLD/Rp865/Target: Rp930): 1Q24: Results within expectations. Triputra Agro Persada (TAPG IJ/BUY/Rp625/Target: Rp700): 1Q24: Results within expectations. Expect 2Q24 earnings to be higher qoq and yoy. XL Axiata (EXCL IJ/BUY/...
Christina Lake Cannabis Provides Bi-Weekly Update on Status of MCTO VANCOUVER, British Columbia, May 01, 2024 (GLOBE NEWSWIRE) -- Christina Lake Cannabis Corp. ("CLC" or the "Company") (CSE: CLC) is providing an update with respect to the expected timeline for filing its audited financial statements for the fiscal year ended November 30, 2023, the related management's discussion and analysis and certificates of its CEO and CFO (collectively, the "Required Documents") and its previously announced management cease trade order ("MCTO") issued by the Company's principal regulator, the British...
MLT eked out positive rental reversions of 2.9% in 4QFY24 driven by Singapore (+11.1%), despite the drag from China (-10.0%). Portfolio occupancy was stable at 96.0% as of Mar 24. MLT’s properties in Tier 1 cities, such as Shanghai and Guangzhou, are well located and resilient. Properties in Tier 2 cities suffered negative rental reversion at low teens and the weakness is expected to persist. MLT provides FY25 distribution yield of 6.2% (FLT: 6.7%). Maintain BUY. Target price: S$1.89.
CDREIT’s volume strategy generated growth in RevPAR of 16.6% yoy to S$205 for Singapore hotels in 1Q24, driven by a higher occupancy of 82.1%. Chinese tourists contributed and accounted for 18% of visitor arrivals to Singapore. 2Q24 is likely to be seasonally softer but the positive momentum is expected to pick up again in July. Residential build-to-rent project The Castings in the UK will start contributing in 2H24. Maintain BUY for 2024 with a distribution yield of 6.6%. Target price: S$1.48.
Moody's Ratings (Moody's) stated that Fulton Financial Corporation's (long-term issuer rating Baa2 negative) recent acquisition on 26 April 2024 of Republic First Bank ("Republic") is credit neutral and has no immediate implications for Fulton's ratings and outlook. The acquisition's transaction res...
Moody's Ratings (Moody's) has assigned a rating to one class of notes issued by AREIT 2024-CRE9 Ltd (the "Issuer") as follows: Cl. A, Definitive Rating Assigned Aaa (sf) RATINGS RATIONALE The rationale for the rating is based on our methodology and considers all relevant risks, particularly th...
Moody's Ratings (Moody's) has assigned ratings to five classes of notes issued by STWD 2024-SIF3, LLC (the "Issuer" or "STWD 2024-SIF3"). Moody's rating action is as follows: U.S.$247,000,000 Class A-1 Floating Rate Senior Notes due 2036, Definitive Rating Assigned Aaa (sf) U.S.$5,000,000 Class...
Moody's Ratings (Moody's) has downgraded Lompoc Valley Medical Center, CA's general obligation unlimited tax (GOULT) rating to A3 from A2. As of fiscal 2023 (June 30 year-end), the district had $62.1 million of GOULT debt outstanding. The downgrade to A3 is driven by the district's thinned liquidi...
Hyatt Hotels Corporation (H) is positioned to survive and thrive post-pandemic, and it's starting to show signs that it is executing on its long-term transformational goals. Uniform Accounting confirms that the market is not pricing in the full force of this transformation, suggesting equity upside continues to be warranted. Before the pandemic, Hyatt began transforming its business model to focus on a franchise model, similar to what hotel giants Hilton and Marriott have already done. The pand...
Moody's Ratings (Moody's) has upgraded the ratings of 21 bonds from five US residential mortgage-backed transactions (RMBS), backed by prime jumbo, agency eligible and investment mortgage loans issued by Mello Mortgage Capital Acceptance between 2018 and 2022. Please click on this link
Moody's Ratings (Moody's) has assigned a Aa3 rating to the City of Hattiesburg, MS' Special Obligation Bonds, Series 2024 (City of Hattiesburg, Mississippi Public Improvement General Obligation Bond Project). The bonds have an expected par value of approximately $7.5 million. Moody's maintains the ...
Cenovus reports voting results of annual meeting of shareholders CALGARY, Alberta, May 01, 2024 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) held its annual meeting of shareholders on May 1, 2024. Each matter voted on is described in greater detail in the Corporation’s 2024 Management Information Circular dated March 6, 2024. Shareholders voted as follows on the matters before the meeting: Appointment of Auditor PricewaterhouseCoopers LLP, Chartered Professional Accountants, was reappointed as auditor of the Corporation. Votes forVotes withheldNumberPercentNumberPercen...
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