Bani Maulana Mulia, CEO of Samudera Shipping, has continued to raise his stake in the company on a regular basis. On Sept 30, Bani acquired 25,800 shares at 81.5 cents each. This brings his total stake to just over 3.5 million shares, equivalent to 0.651% of the company, up from 0.647% previously.
Earlier on Aug 18, 19, 25, 26 and Sept 19, Bani had separately acquired 15,300, 33,800, 49,000, 48,600 and 53,200 shares at between 94 cents and $1.03 each.
Indonesia-based Samudera Shipping is riding on a big pickup in shipping services in the wake of disruption to global supply chains triggered by the pandemic.
In the most recent 1HFY2022 ended June, the company reported earnings of $171.7 million, up 367.6% y-o-y from $36.7 million in 1HFY2021. Revenue in the same period was up 127.8% y-o-y to $476.2 million as the company enjoyed both higher rates and higher volumes. The company has declared an interim dividend of 7 cents per share in 1HFY2022, versus 0.5 cents in 1HFY2021.
In its 1HFY2022 earnings commentary, Samudera notes that even though demand for container shipping services has stabilised, freight rates are expected to stay higher than pre-pandemic levels due to the lag in container vessel supply meeting demand.
With the potential softening of container trade growth going forward and because of uncertainties in the global economic environment arising from high inflation and interest rates, the group is mindful of the need to remain nimble and adapt quickly to changes in shipping demand from its customers.
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Meanwhile, the company is on an expansion mode. It will be taking delivery of another chemical tanker by end of the year and is also expanding its logistics business and has begun offering such services in Indonesia.
Driving up data
Pang Thieng Hwi, a non-executive director of Keppel DC REIT, on Oct 4, acquired 13,000 units at $1.64 each. With the purchase, Pang now holds 97,188 units, up from 84,188 units previously. Pang has been CEO and executive director of Keppel Telecommunications & Transportation, the sponsor of Keppel DC REIT, since 2014. He was previously CEO of Keppel Infrastructure Fund Management.
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Keppel DC REIT, like practically all REITs and business trusts, has suffered some selloff amid a broader down market.
Keppel DC REIT is known for being the first pure-play data centre REIT in Asia, leasing space to data centre operators that are in an expansion mode. Keppel DC REIT traded at a peak of around $3 in early 2021. Its share price has since fallen by nearly half.
In 1HFY2022 ended June, Keppel DC REIT reported a net property income of $123.2 million, down 0.5% y-o-y from $123.8 million. Revenue in the same period was down 0.3% y-o-y to $135.5 million.
DPU for the period was 5.049 cents, up 2.5% from 4.924 cents paid in 1HFY2021.
As at June 30, the REIT’s portfolio occupancy was 98.2%, with a weighted average lease expiry of 7.6 years.
In 1HFY2022, Keppel DC REIT secured new, renewal and expansion contracts at Keppel DC REIT’s data centres in Singapore, Ireland, Malaysia and the Netherlands. For the remainder of the year, only 2% of Keppel DC REIT’s contracts by lettable area are due to expire.
In June, Keppel DC REIT also announced the DPU-accretive acquisition of two data centres in China for RMB690.3 million ($142.2 million).
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