2023Q3 TFI Scorecard for Business I

Yes, it’s earning season again. Time to check how the businesses are doing over the past quarter.

The companies already provided pretty comprehensive information. You can click on the links at the bottom of this post to look at their presentation slides. FCT even has a webcast of the analyst briefing which I greatly appreciate it. As such, I am just going to share what caught my attention and how I perceived the performance.

I will do this on a weekly basis, covering the companies that reported their results over the past week. So here is Part I which I shared on FCT, MIT, MLT, Plife, iFAST and UOB.

In short, I am happy with what I am seeing. It’s a tough macro environment for REITs but those that I have are holding up well. Parkwaylife continues to be the most consistent. You have to give it to the manager to be able to continue to increase DPU despite major work at Mount Elizabeth. Green shoots are appearing for iFAST. The results matched what they have previously guided and so I am confident to see an even stronger 2H2023 results. UOB surprised me with its higher interim dividend. I was expecting 80 cents and am definitely happy to get 85 cents. As previously mentioned, I believe both UOB and OCBC will do well for this year and next.

Coming up next week will be CapitalandAscendas, Raffles Medical, Mapletree Pan Asia Commercial Trust, Daiwa Logistics Trust, OCBC and Venture. Looking forward to that!

Also, not forgetting my US counters. I would probably do another post on my major holdings.

Links to companies’ presentation

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