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19-Apr-2013 09:15

Stamford Land / Stamford Land Corp

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Profit for the 9 months ended 31/12/12 drop 47% !! !

WanSiTong ( Date: 19-Apr-2013 08:51) Posted:

Financial year ended 31' March and results will be announced in May. Last yr paid 4 cents dividend.

WanSiTong ( Date: 18-Apr-2013 16:31) Posted:

No news on the selling of hotels!!?

http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_4456B23C5F96306B48257B50003615BC/$file/SLC_PresseRelease.pdf?openelement

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19-Apr-2013 08:51

Stamford Land / Stamford Land Corp

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Financial year ended 31' March and results will be announced in May. Last yr paid 4 cents dividend.

WanSiTong ( Date: 18-Apr-2013 16:31) Posted:

No news on the selling of hotels!!?

http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_4456B23C5F96306B48257B50003615BC/$file/SLC_PresseRelease.pdf?openelement

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18-Apr-2013 16:31

Stamford Land / Stamford Land Corp

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No news on the selling of hotels!!?

http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_4456B23C5F96306B48257B50003615BC/$file/SLC_PresseRelease.pdf?openelement

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12-Apr-2013 11:10

CapitaMalls Asia / First Day trading open at $2.30

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ok ! Buy CMA and Sell CM

WanSiTong ( Date: 12-Apr-2013 09:36) Posted:

nice charts for CMA !!

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12-Apr-2013 09:36

CapitaMalls Asia / First Day trading open at $2.30

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nice charts for CMA !!

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11-Apr-2013 13:01

Vard / STXOSV

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Wahaha..............by the way where is wahaha?

edwinjup ( Date: 11-Apr-2013 12:51) Posted:

$1.25liao....

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10-Apr-2013 09:20

Midas / Midas

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" Capex is reflected in balance sheet and not income statement. Hence, to pay for the cars (if SMRT and not LTA pays for it) will need to draw down its assets or reserve which will affect the NAV negatively. "

Just to clarify the above statement:

Even thought Cash/ bank balances will decrease or bank borrowing will increase, not to forget that Capital Expenditure will increase! Hence NAV remains the same if no depreciation are provided.

shareflux ( Date: 10-Apr-2013 07:49) Posted:

Two clarificaions, the 1.2 billion from G is for buses and not train cars capex right? In the same notes, the train cars contract that Midas got recently is paid for by LTA and not SMRT, right? So in fact it is tax payer money.
Capex is reflected in balance sheet and not income statement. Hence, to pay for the cars (if SMRT and not LTA pays for it) will need to draw down its assets or reserve which will affect the NAV negatively.
Nevertheless, if the capex for last year equal income then there will be short term impact on its bottom line, balance sheet and maybe dividend payout.

cheongsl ( Date: 10-Apr-2013 07:36) Posted:

Please note the capital expenditure total on train is 305million, not 350million for FY 2012, but for FY 2013 they have reduce the capital expenditure from initial 500m to 350~400m

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03-Apr-2013 15:38

Baker Technology / It's time to rebound ????

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slowly & steady............

52.5 cents COME MNEY COME

WanSiTong ( Date: 02-Apr-2013 09:14) Posted:

Slow but steady.... ,1 day up half a cent !!

TP not too far away !

tea444u ( Date: 30-Mar-2013 12:24) Posted:

52.5 cents coming.... a lot of wind here... got one even saying wont reach 42 cents liaw??? wwhat was that about??

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03-Apr-2013 10:18

Baker Technology / It's time to rebound ????

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cheong arrrrrrrrrrrrr !!

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02-Apr-2013 15:42

Vard / STXOSV

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agreed,

ruggerking ( Date: 02-Apr-2013 15:31) Posted:

Hi Guys,

Let's stick to insightful post rather then nonsensical posting or non evidence-base emotional bias remarks. And if possible, stick to English as it would be advantageous for every user reading this thread.

Cheers )

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02-Apr-2013 13:13

Oceanus / OCEANUS (No.1 in abalone farming): Venturing into

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Quoted by oldflyingfox :

I just read the full year result that was out yesterday, in page 17, it said the below:

" Taken together, these activities are aimed at improving our production efficiencies and costs. While we are confident the results will show by the year end, the Group will need another round of funding to complete the restructuring exercise that begun end December 2011."

Seem like there will be either a private placement or rights issue this year, likely there will be a push of the price just before that.

vw2796 ( Date: 02-Apr-2013 13:06) Posted:

fund raising exercise? when?

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02-Apr-2013 12:43

Oceanus / OCEANUS (No.1 in abalone farming): Venturing into

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price will go up before the fund raising exercise !!

veliscorin ( Date: 02-Apr-2013 12:30) Posted:

What's the reason for the recent push? I'm not complaining, small vestment here, but not sure how high it will go in the near 2-3 weeks. Any seniors have any insights? :D

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02-Apr-2013 12:31

Oceanus / OCEANUS (No.1 in abalone farming): Venturing into

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Ya.. Ya.. top 5 volume

vw2796 ( Date: 02-Apr-2013 12:15) Posted:

finally moving....

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02-Apr-2013 09:14

Baker Technology / It's time to rebound ????

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Slow but steady.... ,1 day up half a cent !!

TP not too far away !

tea444u ( Date: 30-Mar-2013 12:24) Posted:

52.5 cents coming.... a lot of wind here... got one even saying wont reach 42 cents liaw??? wwhat was that about???

nqing87 ( Date: 29-Mar-2013 21:11) Posted:

if im not wrong, the dividend is still subject to approval until the AGM in late april right? think maybe ppl are not sure if baker will surely approve and bake high dividend for them.. maybe if nearer date to AGM, will return to life, or maybe during the confirmation of dividend, the price may shoot up.

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22-Mar-2013 15:24

DISA / Equation

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Not Peter Lim ?? LOL

starlene ( Date: 22-Mar-2013 10:55) Posted:

My prediction is right..exactly 1 week from mar 14..eq crossed 0.02..Eddie Chng has something in his sleeve..heard some one by name of Peter tan has increased his stakes in Eq too..good news besides recent placement to 2 large investors,Eq will cross 0.03,a matter of time limited downside to 0.018-0.019,to cut loss,worth the punt..Gd luck to all of you

starlene ( Date: 14-Mar-2013 22:45) Posted:

Exactly 7 days from 7Mar..today 14 March Equation cross 0.02 again got hope liao I sold on 28Feb at 0.027,has since bought back 0.017-0.022 hope can make more $$$

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22-Mar-2013 13:03

Oceanus / OCEANUS (No.1 in abalone farming): Venturing into

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moving,,,,,,,,,,,,,,,,

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22-Mar-2013 12:44

YZJ Shipbldg SGD / Cruising with the ship ..Yangzijiang

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sorri ! Typo error.. should be consistently !!

WanSiTong ( Date: 22-Mar-2013 11:51) Posted:

no problem if the accounts are prepared consistenly according to their accounting policies.

Bopanha ( Date: 22-Mar-2013 11:37) Posted:

Sometimes I feel that making an impairment loss for public companies is just balancing the books in order that taxes are not too high, right? If seen from this angle, impairment entries are good or bad? I no accountant, so need some ideas, hehehe.

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22-Mar-2013 11:51

YZJ Shipbldg SGD / Cruising with the ship ..Yangzijiang

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no problem if the accounts are prepared consistenly according to their accounting policies.

Bopanha ( Date: 22-Mar-2013 11:37) Posted:

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22-Mar-2013 11:27

YZJ Shipbldg SGD / Cruising with the ship ..Yangzijiang

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Impairment Provisions:

As at 31/12/2011 : RMB 554.2 M

Additional provisions made in 2012 : RMB 99.2 M

As at 31/12/2012 : RMB 653.3 M

darkknight ( Date: 22-Mar-2013 08:01) Posted:

That is for Q4 and not whole FY and does not indicate actual write down of asset or actual negative impact to cash flow right? Conservative provision is healthy as it can somewhat cushion near term bottom line impact, provided it is written back and not written down at the end.

WanSiTong ( Date: 21-Mar-2013 16:08) Posted:

Extraded from para 8 of YZJ 2012 Full yr announcement :

Other gains/(losses) - net 其他利益 /(損失 ) - 淨值

Net other gains, which comprises mainly foreign exchange related gains/ (loss) and impairment provision for

HTM investments, recorded a loss of RMB21.3 million in 4Q 2012 from loss of RMB107.4 million in 4Q 2011.

The recorded net loss of RMB21.3 million mainly due to additional of RMB99.2 million impairment provisions

made for HTM Investment at end of 2012. As at 31 December 2012, the provision is RMB 653.3 million.

其他利益主要包括外匯相關損益以及對持有至到期金融資產所作的減值準備計提，與 2011年第四季度的

1.074

期金融資產減值準備

元人民幣。

As at 31/12/2011, impairmrnt provisions was RMB 554.2 million. (pls refer to Notes 16 of the 2011 Annual Report)

億元虧損相比， 2012年第四季度，其他利益凈虧損人民幣 2130萬元。虧損主要源於增加對持有至到 9920萬元人民幣，截止 2012年 12月 31日，持有至到期金融資產減值準備共計 6.533億

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22-Mar-2013 11:21

YZJ Shipbldg SGD / Cruising with the ship ..Yangzijiang

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More information on the htm Financial Assets :

These held-to-maturity financial products are investments in banking products offered by Chinese banks and trust companies and are used to finance Chinese corporations and entities in diverse sectors, such as real estate projects, manufacturing companies and local government projects.

Such products yielded an average return of about 10% to 15% a year. Relative to this, cost of borrowing is at 5% for Rmb and 2% to 3% for USD.

Depending on how the prospective yields of held-to-maturity investments change relative to the cost

of borrowing, YZJ management do not rule out the possibility of deploying funds from their held-to-maturity investment portfolio to fund their working requirements as they expand their shipbuilding ctivities.

All of these investments are secured against various collaterals such as listed shares, land titles and guarantees. The Group’s policy is to insist that the collateral to debt coverage ratio to be no less than 2 times and the collaterals have to be unencumbered. The Group has not experienced any default of such investments since it started investing in these products in 2008.

The carrying amount of these assets is reduced through the use of an impairment allowance account which is calculated as the difference between the carrying amount and the present value of estimated future cash flows, discounted at the original effective interest rate. When the asset becomes uncollectible, it is written off against the allowance account. Subsequent recoveries of amounts previously written off are recognised against the same line item in profit or loss.

The allowance for impairment loss account is reduced through profit or loss in a subsequent period when the amount of impairment loss decreases and the related decrease can be objectively measured. The carrying amount of the asset previously impaired is increased to the extent that the new carrying amount does not exceed the amortised cost had no impairment been recognised in prior periods.

The Group follows the guidance of FRS 39 in determining when the financial assets, held-to-maturity are considered impaired. Significant financial difficulties of the counterparty, probability that the counterparty will enter bankruptcy, and default or significant delay in payment are objective evidence that these financial assets, held-to-maturity is impaired. Allowance for impairment was provided based on management’s assessment of the credit history of its counter-parties, and that of the market conditions. Refer to Note 35(b) of 2011 Annual Report on the credit risk information in relation to these financial assets.

WanSiTong ( Date: 20-Mar-2013 13:56) Posted:

Extraded from YZJ annual Report 2011 (2012 is not availiable), Pg 56- Significant Accounting policies :
(iii) Financial assets, held-to-maturity
Financial assets, held-to-maturity are non-derivative financial assets with fixed or determinable
payments and fixed maturities that the Group’s management has the positive intention and
ability to hold to maturity. If the Group were to sell other than an insignificant amount of financial
assets, held-to-maturity, the whole category would be tainted and reclassified as available-forsale.
They are presented as non-current assets, except for those maturing within 12 months after
the balance sheet date which are presented as current assets.
(iv) Financial assets, available-for-sale
Financial assets, available-for-sale are non-derivatives that are either designated in this category
or not classified in any of the other categories. They are presented as non-current assets unless
management intends to dispose of the assets within 12 months after the balance sheet date.
(b) Recognition and derecognition
Regular way purchases and sales of financial assets are recognised on the trade-date – the date on
which the Group commits to purchase or sell the asset.
Financial assets are derecognised when the rights to receive cash flows from the financial assets have
expired or have been transferred and the Group has transferred substantially all risks and rewards of
ownership. On disposal of a financial asset, the difference between the carrying amount and the sale
proceeds is recognised in profit or loss.Any amount in the fair value reserve relating to that asset is
transferred to profit or loss.
(c) Initial measurement
Financial assets are initially recognised at fair value plus transaction costs except for financial assets
at fair value through profit or loss, which are recognised at fair value. Transaction costs for financial
assets at fair value through profit or loss are recognised immediately as expenses.
(d) Subsequent measurement
Financial assets, available-for-sale and financial assets at fair value through profit or loss, are
subsequently carried at fair value. Loans and receivables and financial assets, held-to-maturity are

subsequently carried at amortised cost using the effective interest method.

cheongsl ( Date: 19-Mar-2013 07:30) Posted:

Hi dippyboy,

I don't quite get you what do you mean by 11 rmb htm asset is like CAO, what do you mean by 6% interest as this seems to be different from their financial report? Maybe you can provide your proof for your wording why with htm asset is big time speculating?

Most company have held to maturity investment, especially in building industries. They will need vest amount of raw material, and the project is not complete within a short period. Eg. when the contract is sign, the fabrication and manufacturer might take 1 years later to start. Thus to avoid the contract from getting into loss, the company will need to hedge the material price for 1 year, so that the price of material go up the company will still get the material at the same price as 1 year ago, if it go down the company might consider loss the hedging and purchase directly outside or just complete the hedging sales. Similar go to foreign currency, hedgeing might also required.

Every normal individual also have held to maturity investment, insurance, fixed deposit, saving insurance, etc

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