ShareJunction - Member Posts

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For several lOng lOng lOng DECADES, Malaysian Plantations did nOt have any UPSETS.

within few shOrt shOrt shOrt years, INDONESIAN plantations experienced UPSETS One after anOther ....

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SWEET SOUR WEALTH ????

something that involves this monster amout of WEALTH probably means that many mouths and lips had been SWEETENED....

In the process of SWEETENING, sOme must be SWEETER while Others are lesser in SWEETNESS....

Chinese SAGE says,

"When SWEETNESS is nOt equally cOntented, sOmeOne and sOmething WiLL definitely tUrned sOur ...."

and may be even BLOODY like in THAILAND nOw ....

pharoah88 ( Date: 21-May-2010 15:59) Posted:

Rp 3.6 trillion (US$385 million) tax fraud

hOw did this figure, Rp 3.6 trillion, come about ????

Some "insiders" must have been working on the figure befOre it is released ????

Chinese Sage says,

"nO hOle wOuld nOt raise air"

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PPB Group Bhd, a Malaysian plantation and property group, fell the most in almost three months after its affiliate Wilmar International Ltd was downgraded at Credit Suisse Group AG.

Shares of PPB slid 2.4 per cent to RM17.20 at 9:55 am local time in Kuala Lumpur trading, set for its steepest decline since February 25.

Credit Suisse cut Wilmar’s stock rating to “underperform” from “neutral”, citing a newspaper report the company is being investigated in Indonesia.

Wilmar said yesterday in a statement in Singapore yesterday that its Indonesian units have complied with local laws on value-added tax.

Wilmar fell as much as 8.7 per cent, the worst drop since November 2008, to S$5.65, and traded at S$5.80 at 10:59 am in Singapore. The decline of Singapore’s second-largest stock by market value helped dragged the benchmark index down 1.7 per cent.-- Bloomberg

Read more: PPB Group slides on Wilmar downgrade http://www.btimes.com.my/articles/20100519101050/Article/#ixzz0oY69C2PR

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Rp 3.6 trillion (US$385 million) tax fraud

hOw did this figure, Rp 3.6 trillion, come about ????

Some "insiders" must have been working on the figure befOre it is released ????

Chinese Sage says,

"nO hOle wOuld nOt raise air"

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What makes yOu sO cOnfident ?

peOple are buying up ?

DiD yOu hear anything undergrOund ?

L..... ( Date: 21-May-2010 15:44) Posted:

did rebound to 5.75 scared anyone? im still maintaining mt short arghhhhhhh

L..... ( Date: 20-May-2010 10:18) Posted:

got pple HUAT w me yesterday????

short arghhhhhhhhhhh

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Tax fraud allegation illogical: Wilmar

Hans David Tampubolon, The Jakarta Post, Jakarta | Tue, 05/18/2010 8:39 PM | Headlines

Wilmar International Limited Group deems an allegation against the company about the Rp 3.6 trillion (US$385 million) tax fraud as confusing and illogical.

“The allegation on us is about a tax fraud that had been going on for the last three years. If that was the case, then why hasn’t the taxation office investigated us until now?” Wilmar Business Development Manager Max Ramajaya told The Jakarta Post by phone on Tuesday.

The allegation on Wilmar was first opened into the public eye by Bambang Soesatyo, a Golkar Party legislator at the House of Representatives’ special committee on taxation frauds.

Bambang said that Wilmar had allegedly receiving fraudulent tax restitutions from 2007 to 2009.

Max, however, said that Wilmar would not sue Bambang for defamation.

“Pak Bambang is only doing his job to follow up reports submitted to him,” he said.

Max also said that Wilmar was willing to cooperate should the committee decided to summon them for clarification on the case.

pharoah88 ( Date: 21-May-2010 15:09) Posted:

Wilmar: Denies Allegations of Indonesian Tax Fraud

Summary: Wilmar International Limited (WIL) announced that it categorically denies allegations that its subsidiaries’ value-added tax restitution claims involving its palm oil exports in Indonesia are questionable and fictitious; this in response to two Indonesian media reports that WIL had received or was due to receive total “questionable” tax refunds worth 3.6b Indonesian Rupiah (US$385m) over the three years from 2007 to 2009. WIL also categorically denies allegations that it has manipulated its financial statements and colluded with Indonesian tax officials in the process. According to its official statement, WIL says it is confident that its “subsidiaries are and have at all times been in full compliance with all relevant Indonesian value-added tax laws”. However, WIL has not elaborated on what it intends to do to clear these allegations. As such, we believe this statement may not be enough to allay the market’s concerns. Pending further details from the company and also the Indonesian government, we place our BUY rating and S$7.95 fair value UNDER REVIEW. (Carey Wong)

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All Indonesian resources and plantation companies would be affected by the INDONESIAN underweight ?

pharoah88 ( Date: 21-May-2010 15:41) Posted:

Morgan Stanley cuts Malaysia, Thailand to equal weight

WE have run our country quant model and the following are the key changes this month:

1. Upgrading Turkey to equal-weight from underweight;
2. Downgrading Malaysia and Thailand to equal-weight from overweight;
3. Initiate Colombia with equal weight (Israel leaves the MSCI EM index this month).

Overweight countries are China, Korea, Russia, Brazil and the Czech Republic while underweight countries are Mexico, Chile, INDONESIA, Hungary, Peru and the Philippines

Overall market situation — significant value appears
The travails of the eurozone and the reduction in risk appetite have led to significant value reappearing in Asian and emerging market (EM) equities, in our view. The forward PER for MSCI EM has fallen to just 10.8 times. This is now 15% below the long-run average of 12.7 times and compares with a 1 standard deviation (SD) cheap level of 9.5 times.

Meanwhile, earnings revisions breadth has stabilised in positive territory, suggesting — at least for now — that bottom-up analysts are not reducing estimates in response to the crisis in Europe.

Broadly speaking, we agree with this stance. In fact, our economics team has in recent weeks upgraded its global gross domestic product (GDP) growth forecast for 2010 from 4.4% to 4.7% and for 2011 from 4% to 4.2%, mainly due to an increase in the forecast growth rate of the US.

The fastest rates of economic growth this year are expected by the Morgan Stanley macro team to be in China, India, Brazil and Russia. The slowest are expected in Hungary, the Czech Republic, Poland and South Africa.

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Morgan Stanley cuts Malaysia, Thailand to equal weight

WE have run our country quant model and the following are the key changes this month:

1. Upgrading Turkey to equal-weight from underweight;
2. Downgrading Malaysia and Thailand to equal-weight from overweight;
3. Initiate Colombia with equal weight (Israel leaves the MSCI EM index this month).

Overweight countries are China, Korea, Russia, Brazil and the Czech Republic while underweight countries are Mexico, Chile, INDONESIA, Hungary, Peru and the Philippines

Overall market situation — significant value appears
The travails of the eurozone and the reduction in risk appetite have led to significant value reappearing in Asian and emerging market (EM) equities, in our view. The forward PER for MSCI EM has fallen to just 10.8 times. This is now 15% below the long-run average of 12.7 times and compares with a 1 standard deviation (SD) cheap level of 9.5 times.

Meanwhile, earnings revisions breadth has stabilised in positive territory, suggesting — at least for now — that bottom-up analysts are not reducing estimates in response to the crisis in Europe.

Broadly speaking, we agree with this stance. In fact, our economics team has in recent weeks upgraded its global gross domestic product (GDP) growth forecast for 2010 from 4.4% to 4.7% and for 2011 from 4% to 4.2%, mainly due to an increase in the forecast growth rate of the US.

The fastest rates of economic growth this year are expected by the Morgan Stanley macro team to be in China, India, Brazil and Russia. The slowest are expected in Hungary, the Czech Republic, Poland and South Africa.

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Morgan Stanley cuts Malaysia, Thailand to equal weight

WE have run our country quant model and the following are the key changes this month:

1. Upgrading Turkey to equal-weight from underweight;
2. Downgrading Malaysia and Thailand to equal-weight from overweight;
3. Initiate Colombia with equal weight (Israel leaves the MSCI EM index this month).

Overweight countries are China, Korea, Russia, Brazil and the Czech Republic while underweight countries are Mexico, Chile, INDONESIA, Hungary, Peru and the Philippines

Overall market situation — significant value appears
The travails of the eurozone and the reduction in risk appetite have led to significant value reappearing in Asian and emerging market (EM) equities, in our view. The forward PER for MSCI EM has fallen to just 10.8 times. This is now 15% below the long-run average of 12.7 times and compares with a 1 standard deviation (SD) cheap level of 9.5 times.

Meanwhile, earnings revisions breadth has stabilised in positive territory, suggesting — at least for now — that bottom-up analysts are not reducing estimates in response to the crisis in Europe.

Broadly speaking, we agree with this stance. In fact, our economics team has in recent weeks upgraded its global gross domestic product (GDP) growth forecast for 2010 from 4.4% to 4.7% and for 2011 from 4% to 4.2%, mainly due to an increase in the forecast growth rate of the US.

The fastest rates of economic growth this year are expected by the Morgan Stanley macro team to be in China, India, Brazil and Russia. The slowest are expected in Hungary, the Czech Republic, Poland and South Africa.

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Is the Severe Acute PIIGS Syndrome [SAPS] Over ?

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Alliance Global Group, Inc. (AGI), the holding company of tycoon Andrew Tan, posted a 12 percent gain in consolidated net income to P2.22 billion in the first quarter of 2010.

In a disclosure to the Philippine Stock Exchange Friday, AGI said it’ net income attributable to shareholders rose 20 percent to P1.65 billion from P1.37 billion a year ago.

Consolidated revenues during the three-month period reached P10.50 billion, up 19 percent from P8.86 billion in the same period last year.

AGI’s property arm, Megaworld Corporation, accounted for 46 percent of revenues during the period, compared to 43 percent from the consumer business, primarily through Emperador Distillers and Golden Arches Development Corporation, master franchise holder of McDonald’s in the Philippines.

Earnings before interest, taxes, depreciation and amortization in the first quarter of 2010 amounted to P3.30 billion, up from P2.80 billion a year ago.

“Our first quarter results show AGI’s continued strength in the industries it operates in. We believe that we are reaping the benefits of the business decisions we made in the last couple of years,” said AGI President Kingson Sian.

Sian was referring to expansion efforts under AGI’s real estate and consumer businesses, as well as its recent foray into the tourism industry under a joint venture with Genting Hong Kong Limited (formerly named Star Cruises Limited of Hong Kong), through AGI subsidiary Travellers International Hotel Group, Inc.

“While this is the first full quarter that we are reporting our share in the net profits in Resorts World Manila and, given that the facility is not yet fully complete, we are quite pleased by the early indication of the potential of the business,” said Sian.

He added that “we remain committed to building a truly world-class facility, one that can be considered a hallmark in Philippine tourism.”

pharoah88 ( Date: 21-May-2010 14:57) Posted:

Alliance Global earns P2.2 billion in Q1, up 12%

By JAMES A. LOYOLA

May 21, 2010, 2:33pm

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Resorts World Manila (RWM)

is making profits in its First Year.

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Shipping trusts: Not out of the woods yet

Summary: Pacific Shipping Trust (PST), FSL Trust (FSLT) and Rickmers Maritime [RMT, NOT RATED] all reported YoY declines in 1Q10 DPU primarily due to lower distribution payout levels. RMT has reached an agreement with its lenders, but it is fairly restrictive – in our view – as RMT cannot exert much control over its cash flows. RMT could just bide its time under these agreements or possibly raise fresh equity (with a much recovered unit price) and get out of these restrictive agreements. In sharp counterpoint to the RMT developments, FSLT announced earlier this month that a charterer has re-delivered two of its product tankers. The sector, in our view, remains highly vulnerable due to counterparty risks – and this incident highlights that the broader shipping industry is not out of the woods yet. We expect both PST and FSLT to acquire new vessels this year but the key challenge will be to secure high quality counterparties and still make an accretive deal. Maintain NEUTRALview. PST is our preferred pick because of its balance sheet strength. (Meenal Kumar)

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Shipping trusts: Not out of the woods yet

Summary: Pacific Shipping Trust (PST), FSL Trust (FSLT) and Rickmers Maritime [RMT, NOT RATED] all reported YoY declines in 1Q10 DPU primarily due to lower distribution payout levels. RMT has reached an agreement with its lenders, but it is fairly restrictive – in our view – as RMT cannot exert much control over its cash flows. RMT could just bide its time under these agreements or possibly raise fresh equity (with a much recovered unit price) and get out of these restrictive agreements. In sharp counterpoint to the RMT developments, FSLT announced earlier this month that a charterer has re-delivered two of its product tankers. The sector, in our view, remains highly vulnerable due to counterparty risks – and this incident highlights that the broader shipping industry is not out of the woods yet. We expect both PST and FSLT to acquire new vessels this year but the key challenge will be to secure high quality counterparties and still make an accretive deal. Maintain NEUTRALview. PST is our preferred pick because of its balance sheet strength. (Meenal Kumar)

x 0

Shipping trusts: Not out of the woods yet

Summary: Pacific Shipping Trust (PST), FSL Trust (FSLT) and Rickmers Maritime [RMT, NOT RATED] all reported YoY declines in 1Q10 DPU primarily due to lower distribution payout levels. RMT has reached an agreement with its lenders, but it is fairly restrictive – in our view – as RMT cannot exert much control over its cash flows. RMT could just bide its time under these agreements or possibly raise fresh equity (with a much recovered unit price) and get out of these restrictive agreements. In sharp counterpoint to the RMT developments, FSLT announced earlier this month that a charterer has re-delivered two of its product tankers. The sector, in our view, remains highly vulnerable due to counterparty risks – and this incident highlights that the broader shipping industry is not out of the woods yet. We expect both PST and FSLT to acquire new vessels this year but the key challenge will be to secure high quality counterparties and still make an accretive deal. Maintain NEUTRALview. PST is our preferred pick because of its balance sheet strength. (Meenal Kumar)

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Wilmar: Denies Allegations of Indonesian Tax Fraud

Summary: Wilmar International Limited (WIL) announced that it categorically denies allegations that its subsidiaries’ value-added tax restitution claims involving its palm oil exports in Indonesia are questionable and fictitious; this in response to two Indonesian media reports that WIL had received or was due to receive total “questionable” tax refunds worth 3.6b Indonesian Rupiah (US$385m) over the three years from 2007 to 2009. WIL also categorically denies allegations that it has manipulated its financial statements and colluded with Indonesian tax officials in the process. According to its official statement, WIL says it is confident that its “subsidiaries are and have at all times been in full compliance with all relevant Indonesian value-added tax laws”. However, WIL has not elaborated on what it intends to do to clear these allegations. As such, we believe this statement may not be enough to allay the market’s concerns. Pending further details from the company and also the Indonesian government, we place our BUY rating and S$7.95 fair value UNDER REVIEW. (Carey Wong)

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Alliance Global Group, Inc. (AGI), the holding company of tycoon Andrew Tan, posted a 12 percent gain in consolidated net income to P2.22 billion in the first quarter of 2010.

In a disclosure to the Philippine Stock Exchange Friday, AGI said it’ net income attributable to shareholders rose 20 percent to P1.65 billion from P1.37 billion a year ago.

Consolidated revenues during the three-month period reached P10.50 billion, up 19 percent from P8.86 billion in the same period last year.

AGI’s property arm, Megaworld Corporation, accounted for 46 percent of revenues during the period, compared to 43 percent from the consumer business, primarily through Emperador Distillers and Golden Arches Development Corporation, master franchise holder of McDonald’s in the Philippines.

Earnings before interest, taxes, depreciation and amortization in the first quarter of 2010 amounted to P3.30 billion, up from P2.80 billion a year ago.

“Our first quarter results show AGI’s continued strength in the industries it operates in. We believe that we are reaping the benefits of the business decisions we made in the last couple of years,” said AGI President Kingson Sian.

Sian was referring to expansion efforts under AGI’s real estate and consumer businesses, as well as its recent foray into the tourism industry under a joint venture with Genting Hong Kong Limited (formerly named Star Cruises Limited of Hong Kong), through AGI subsidiary Travellers International Hotel Group, Inc.

“While this is the first full quarter that we are reporting our share in the net profits in Resorts World Manila and, given that the facility is not yet fully complete, we are quite pleased by the early indication of the potential of the business,” said Sian.

He added that “we remain committed to building a truly world-class facility, one that can be considered a hallmark in Philippine tourism.”

pharoah88 ( Date: 21-May-2010 14:57) Posted:

Alliance Global earns P2.2 billion in Q1, up 12%

By JAMES A. LOYOLA

May 21, 2010, 2:33pm

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Alliance Global earns P2.2 billion in Q1, up 12%

By JAMES A. LOYOLA

May 21, 2010, 2:33pm

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Stock Call s
Oceanus Group
33 cents | Buy

DMG cuts target price to 43 cents based on 12.8X FY ’11 P/E, after lowering FY ’11 earnings forecast 30 per cent to assume lower selling prices. Notes China-based abalone farmer’s Q1 average selling price down 33 per cent on-quarter; also, supply of caged abalone lower due to higher-than-expected mortality rate.

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Good Rate

as USD recovers

grandmaster89 ( Date: 18-May-2010 17:37) Posted:

NOTICE TO UNITHOLDERS ON FOREX RATE

Singapore, 18 May 2010 – FSL Trust Management Pte. Ltd., the Trustee-Manager of First Ship Lease Trust (“FSL Trust”), would like to inform all unitholders of FSL Trust that the distribution of US1.50 cents per unit for the quarter ended 31 March 2010 will be paid on Wednesday, 26 May 2010.

Unitholders who did not opt to receive their distribution in US Dollars, will receive it in Singapore Dollars at the foreign exchange rate of US$1.00 = S$1.3921, which was fixed on 18 May 2010. This means that unitholders will receive S$20.88 for every 1,000 units of FSL Trust held at the time of books closure.

This applies to their 1Q 10 DPU payout. More $$$ coming in haha