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11-Nov-2013 13:37

Straits Times Index / STI to cross 3000 boosted by long-term investors

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Market Recap

A better-than-expected job reports pushed US equities higher on Friday.

All but three Dow components gained with JPMorgan (+4.5%) leading the pack. The index gained 0.9% for the week. The S& P 500 was led by the financials and consumer discretionary sectors, and the index closed just below its 29 Oct record close. For the week, the S& P 500 gained 0.5%. The NASDAQ Composite fell 0.1% for the week for its second straight weekly loss....

WTI Crude for Dec added 40 cents, or 0.4%, to end at US$94.60 on while Dec Brent gained US$1.66, or 1.6 %, to settle at US$105.12/barrel. For the week, WTI lost a cent while Brent lost 0.8%.

Gold for Dec delivery lost US$23.90, or 1.8%, to end at US$1,284.60/ounce on tapering expectations while Dec Silver fell by 34 cents, or 1.6%, to end at US$21.32/ounce. For the week, gold and silver lost 2.2% and 2.4%, respectively.

Implications for Singapore

The strong rebound on Wall Street last Friday night and the positive Nikkei start (up 1.2% now) are likely to boost local sentiments this morning.

As a recap, the STI finally cracked the 3200 psychological support after a 0.8% retreat in the last session this suggesting a more bearish stance going forward.

But with today's tone likely to show some near-term improvements, we could potentially see the index heading back to test the 3200 (now support-turned-resistance).

A failure to overcome this level will see the index falling to the immediate base at 3155 (minor trough) next. Below that, the subsequent support lies at the 3120 key troughs.

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11-Nov-2013 13:24

Straits Times Index / STI to cross 3000 boosted by long-term investors

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Market Recap A better-than-expected job reports pushed US equities higher on Friday. All but three Dow components gained with JPMorgan (+4.5%) leading the pack. The index gained 0.9% for the week. The S& P 500 was led by the financials and consumer discretionary sectors, and the index closed just below its 29 Oct record close. For the week, the S& P 500 gained 0.5%. The NASDAQ Composite fell 0.1% for the week for its second straight weekly loss. WTI Crude for Dec added 40 cents, or 0.4%, to end at US$94.60 on while Dec Brent gained US$1.66, or 1.6 %, to settle at US$105.12/barrel. For the week, WTI lost a cent while Brent lost 0.8%. Gold for Dec delivery lost US$23.90, or 1.8%, to end at US$1,284.60/ounce on tapering expectations while Dec Silver fell by 34 cents, or 1.6%, to end at US$21.32/ounce. For the week, gold and silver lost 2.2% and 2.4%, respectively. Implications for Singapore The strong rebound on Wall Street last Friday night and the positive Nikkei start (up 1.2% now) are likely to boost local sentiments this morning. As a recap, the STI finally cracked the 3200 psychological support after a 0.8% retreat in the last session this suggesting a more bearish stance going forward. But with today's tone likely to show some near-term improvements, we could potentially see the index heading back to test the 3200 (now support-turned-resistance). A failure to overcome this level will see the index falling to the immediate base at 3155 (minor trough) next. Below that, the subsequent support lies at the 3120 key troughs.

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11-Nov-2013 11:59

Elite KSB / Elite KSB

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Could be today ZB announce distribution of 7.8c dividend............ Misleading!!

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11-Nov-2013 09:18

Elite KSB / Elite KSB

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I do not understand why people willing to buy 0.092 and the Co will only pay back 0.078 to the Shareholders .

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09-Nov-2013 23:05

Vard / Vard Holdings

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Sorry...now I have the problem of cut & paste........

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09-Nov-2013 23:03

Vard / Vard Holdings

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You have to wait until you see the below tab appears, then you do the cut & paste:

oldflyingfox ( Date: 09-Nov-2013 22:43) Posted:

Tks WanSiTong, I just wonder how you manage to copy and paste it? I always having this problem when doing it in Windows 8.

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09-Nov-2013 22:57

Vard / Vard Holdings

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After the cold rain stops you will see a rainbow ..........

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09-Nov-2013 22:18

Vard / Vard Holdings

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Cheers! 2014 will be bullish.....

With a peak order book of NOK19.6bn, VARD is set to deliver strong growth in 2014: Vard has 43 large vessels on its order book now out of which 21 will be delivered in 2014. This implies that revenues will be in the NOK11-12bn range next year and with Brazil losses phasing out, MER expects Vard to report a robust 81% YoY profit jump in 2014.

Earnings before interest, tax, depreciation and amortisation (EBITDA) margins should improve to 9.9% in 2014 from 6.9% in 2013: Given the phasing out of Brazil losses and large contracts in Norway/Romania kicking in, MER expects a 3% YoY jump in margins next year.

65% of the order book is in key Romania and Norway yards: These yards are running at 100% capacity and are key to higher margins in MER?s view.

Order outlook in North Sea and for AHTS market improving: Management said that while they remain positive on the OSCV market, the spot rates for large AHTS in North Sea are stabilizing. The company is in active discussions with various buyers, and order inflows should remain healthy in 2014.

Action and recommendation
With a robust order book and phasing out of Brazil old yard issues, VARD can start on a clean slate in 2014. Current valuations are attractive in MER?s view.

MER has an Outperform rating on Vard Holdings with a 12-month target price of $1.05.

Hyat arh........

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09-Nov-2013 22:05

Vard / Vard Holdings

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Oldflyingfox, thanks for sharing............ This one OK.

08 Nov 2013

Vard ? Brazil issues wouldn?t go on forever, says MER

Vard Holdings rebounded 1.8% on Thursday to $0.845 after losing 5.7% on Wednesday, the day the company announced a 66.7% lower third quarter net profit compared to the same period a year ago.

Code	Name	Type	Expiry	Exercise Price
T1RW	VardHldgsMBeCW140401	Call	1-Apr-14	0.85
SI5W	VardHldgsMBeCW140203	Call	3-Feb-14	1.00
SS3W	VardHldgsMBeCW150102	LC	2-Jan-15	1.20

*LC = Long Dated Call

In a research report published on 6 November, Macquarie Equities Research (MER) explained the reason for the lower net profit and why they remain bullish on Vard, particularly in 2014.

Based on a conference call held by to Vard?s management to discuss 3Q13 results, its Niteroi shipyard in Brazil with four legacy vessel orders is the problem child of the group currently. While MER reduced their 2013 earnings estimate by 21%, MER thinks 2014 will not be impacted and should see robust growth next year, given that these legacy orders form only 3% of VARD?s order book now.

Situation stabilizing at ?Niteroi? yard Losses might not continue: MER?s analysis suggests that Vard booked approximately NOK200mn loss from the Niteroi project in 2Q13 and approximately NOK100mn in 3Q13. Losses should continue subsiding in MER?s view as Vard has taken plenty of initiatives and mitigating actions.

Only 3 vessels left to be delivered from Niteroi Only 3% of order book now: While Vard delivered one vessel last quarter, another one is 95% complete. The total revenue left to be recognized according to management from the entire Niteroi project is only NOK0.5bn which is 3% of its order book.

With a peak order book of NOK19.6bn, VARD is set to deliver strong growth in 2014: Vard has 43 large vessels on its order book now out of which 21 will be delivered in 2014. This implies that revenues will be in the NOK11-12bn range next year and with Brazil losses phasing out, MER expects Vard to report a robust 81% YoY profit jump in 2014.

Earnings before interest, tax, depreciation and amortisation (EBITDA) margins should improve to 9.9% in 2014 from 6.9% in 2013: Given the phasing out of Brazil losses and large contracts in Norway/Romania kicking in, MER expects a 3% YoY jump in margins next year.

65% of the order book is in key Romania and Norway yards: These yards are running at 100% capacity and are key to higher margins in MER?s view.

Order outlook in North Sea and for AHTS market improving: Management said that while they remain positive on the OSCV market, the spot rates for large AHTS in North Sea are stabilizing. The company is in active discussions with various buyers, and order inflows should remain healthy in 2014.

Action and recommendation
With a robust order book and phasing out of Brazil old yard issues, VARD can start on a clean slate in 2014. Current valuations are attractive in MER?s view.

MER has an Outperform rating on Vard Holdings with a 12-month target price of $1.05.

** For a full list of Macquarie warrants on Vard Holdings, you may wish to do a search at http://www.warrants.com.sg/en/warrants/search_e.cgi

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09-Nov-2013 09:06

Straits Times Index / STI to cross 3000 boosted by long-term investors

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World Markets

North and South American markets finished mixed as of the most recent closing prices. The S& P 500 gained 1.34%, while the Bovespa led the IPC lower. They fell 0.93% and 0.36% respectively.

North and South American Indexes

Index	Country	Change	% Change	Level	Last Update
Dow Jones Industrial Average	United States	+167.80	+1.08%	15,761.78	4:42pm ET
S& P 500 Index	United States	+23.46	+1.34%	1,770.61	4:42pm ET
Brazil Bovespa Stock Index	Brazil	-491.93	-0.93%	52,248.86	6:01pm ET
Canada S& P/TSX 60	Canada	+5.96	+0.78%	771.41	4:19pm ET
Santiago Index IPSA	Chile	-56.59	-1.71%	3,258.10	3:47pm ET
IPC	Mexico	-145.74	-0.36%	39,864.16	6:06pm ET

WanSiTong ( Date: 09-Nov-2013 09:04) Posted:

Hooray! Stocks pop on solid jobs report

Nov 08 4:09pm:

Good news is good news! Stocks bounced back Friday thanks to a much better-than-expected jobs report. More

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09-Nov-2013 09:04

Straits Times Index / STI to cross 3000 boosted by long-term investors

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Hooray! Stocks pop on solid jobs report

Nov 08 4:09pm:

Good news is good news! Stocks bounced back Friday thanks to a much better-than-expected jobs report. More

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08-Nov-2013 23:35

Straits Times Index / STI to cross 3000 boosted by long-term investors

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Hooray! US Stocks gain on solid jobs report

Nov 08 10:21am:

Good news is good news! Stocks rose early Friday, following a better-than-expected jobs report. More

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08-Nov-2013 14:26

ESR-LOGOS REIT / Cambridge Ind Trust Results Announcement

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This one is like that one.... every quarter gives you some kopi$$$$........ ex or no ex..... no sweat one ..Lol

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08-Nov-2013 13:38

Citicode / AdvSCT 'alive' again!!

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Placement Agreement?) with Lim & Tan Securities Pte Ltd as thePlacement Agent?). Pursuant to the Placement Agreement, the Company has agreed to allot and issue up to 584,375,930 new ordinary shares in thePlacement Shares? and each a ?Placement Share?) at an issue price of S$0.0065 (the ?Placement Price?) for each Placement Share (thePlacement?) and the Placement Agent has agreed, on a fully underwritten basis, to subscribe for and/or procure the subscription for.............

WanSiTong ( Date: 29-Oct-2013 13:10) Posted:

0.006 would be a very strong support!

mb7269 ( Date: 29-Oct-2013 12:23) Posted:

So high chance to collect at .002 ? or even .001?

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08-Nov-2013 12:07

Others / What?s Happened to Blumont, Asiasons and LionGold

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08-Nov-2013 12:04

Elite KSB / Elite KSB

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Chicken got slaughtered! Close shop and distribute 7.8c to the Shareholders...... Sad.....

Ex : 13 Nov 2013

Payment date : 26 Nov 2013

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08-Nov-2013 10:23

Straits Times Index / STI to cross 3000 boosted by long-term investors

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Market Recap

US equities fell sharply on profit taking after the indices hovered near record highs.

All but two Dow components fell with Walt Disney (-2.7%) and Goldman Sachs (-2.4%) the biggest decliners. The S& P 500 had its largest point drop since 27 Aug, and the consumer discretionary, staples and energy sectors were among the losing sectors. Despite a 73% gain by Twitter on its first trading day, the NASDAQ Composite also fell. ...

WTI Crude for Dec lost 60 cents, or 0.6%, to end at US$94.20 on while Dec Brent declined by US$1.78, or 1.7 %, to settle at US$103.46/barrel.

Dollar strength after the ECB cut rates dragged the precious metals lower. Gold for Dec delivery lost US$9.30, or 0.7%, to end at US$1,308.50/ounce while Dec Silver fell by 11 cents, or 0.5%, to end at US$21.66/ounce.

Implications for Singapore

The more than 1% plunge by the US indices overnight could spook the local bourse to a poor start this morning.

After another muted session yesterday (ended 0.1% lower), the STI continues to hover just above the 3200 psychological support....

But with today's tone likely to turn bearish, we could see the index gapping below this immediate base at the open, before sliding further towards the 3155 subsequent support (minor trough).

On the upside, the immediate obstacle is still pegged at the 3230 minor peaks, followed by the next hurdle at the 3260 key peaks.

Singapore
* Abterra (ABT SP): Sees 3Q loss pared vs yr ago
* Eunetworks (EUN SP): 3Q adj. Ebitda EU6.3m
* FJ Benjamin (FJB SP): 1Q oper. profit S$2.5m vs S$3.4m y/y
* Nera Telecom (NERT SP): 3Q rev. S$50.1m
* OUE (OUE SP): 3Q profit after tax S$14.9m vs S$23.8m yr ago
* Raffles Education (RLS SP): 1Q loss S$3.9m vs S$11m loss y/y
* StarHub (STH SP): 3Q profit falls 1% y/y to S$95.3m
* SIA Engineering (SIE SP): 2Q profit increases 5.8% to S$71m
* ST Engineering (STE SP): 3Q net S$131m vs S$146m yr earlier
* Wilmar (WIL SP): 3Q net income +2.5% y/y to $416m

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08-Nov-2013 09:10

Elite KSB / Elite KSB

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Ex : 13 Nov

WanSiTong ( Date: 08-Nov-2013 09:09) Posted:

It's better to get your money back from the market now at price higher than 7.8c rather than to get 7.8c back from the Co on 26 Nov.

Latest update:

A) NOTICE OF BOOKS CLOSURE DATE

NOTICE IS HEREBY GIVEN that the Share Transfer Books and Register of Members of the Company will be closed at 5.00 p.m. on 15 November 2013 (the " Books Closure Date" ) for the purpose of determining members entitlements to the proposed special tax-exempt (one-tier) dividend of SGD 0.078 per ordinary share in respect of the financial year ending 30 June 2014 (the " Proposed Special Dividend" ).

The Proposed Special Dividend will be paid on 26 November 2013.

Members whose Securities Accounts with The Central Depository (Pte) Limited (CDP) are credited with shares as at 5.00 p.m. on 15 November 2013 will be entitled to the Proposed Special Dividend.

In respect of shares in Securities Accounts with CDP, the Proposed Special Dividend will be paid by the Company to CDP which will in turn distribute the dividend entitlements to such holders of shares in accordance with its practice.

B) ADDITIONAL INFORMATION ON CASH DISTRIBUTION

As announced on 5 November 2013, the Company holds approximately S$11.397 million in cash.

The cash distribution of the special dividend amounted to approximately S$10.567 million.

The balance undistributed cash of S$0.83 million has been set aside for settlement of the outstanding liabilities, professional and other fees, costs and expenses to be incurred in connection with the Voluntary Winding Up and delisting exercise.

The Company will distribute any surplus cash on a pro rata basis in accordance with the shareholding interests of each Shareholder in the Company.

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08-Nov-2013 09:09

Elite KSB / Elite KSB

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08-Nov-2013 06:18

China Env / ChinaEnv - Its all about supply & demand

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China Environment Ltd - Green profit

Written By Stock Fanatic on Thursday, November 7, 2013

We recently visited China Environment?s (CEL) new plants in Bengbu, Anhui and its customer, Nanjing Iron & Steel Group and feel positive on the company. China Environment is a comprehensive provider of industrial waste gas treatment solutions in the People?s Republic of China (PRC), headquartered in Longyan City, Fujian Province.

The group designs and constructs industrial waste gas treatment systems. Its key products include Electrostatic Precipitators (ESP), including Electrostatic Lentoid Precipitators (ESLP), bag houses and hybrid dust collectors.

■ Good track record

CEL was listed in SGX Main Board on 8/09. Despite a setback over the last two years, the group has been able to maintain a firm foothold in the PRC?s environmental protection industry with its healthy financial track record and continuing efforts on R& D. The group has been profitable and has achieved constant growth on equity since listing.

■ JV with College of Engineering, Peking University (China) to co-own the technologies ? including

1) PM2.5 ultrafine particles removal technology

2) power plants? residual heat recovery and recycling technology

3) solid waste treatment technology.

The group believes these new technologies should be ready by next year.

■ Favourable government policies as it continue to be focused on reducing emissions

The Chinese government has committed RMB1.7t to combat air pollution over the next five years. The government also increased subsidies to power generation sector to promote conformation to stringent emission standards in China (wef 25 Sept 2013). Dust emission standard for new thermal power plants were further reduced from current 30mg/m3 to 20mg/m3, but for existing plants will take effect from 1 July 2014.

■ Growing demand on replacement cycle

As more than 50% of existing thermal power plants do not meet the requirements, we believe CEL will clearly benefit from the replacement cycle. As at 2 September 2013, the group has an order book of approximately RMB241.2m comprising 19 projects scheduled for completion in 2013 and 2014. It has announced that it has secured another 5 new contracts worth RMB119m on Wednesday.

Technical Analysis

Daily Chart

(Wow! from 0.085 to 0.65 within 7 months).....just my comment.

■ CEL is currently trading at 44x historical FY12 PER or 32x FY13e based on the annualised HY2013 earnings, which is not cheap in the near-term as compared to its peer average of 30-40x PER market valuation.

Given its strong order book on hand and strong demand for the replacement cycle, we believe CEL should be able to achieve net profit grow in FY14 and FY15, however, tight working capital could constrain its ability to secure more orders. Its new plant utilisation rate is only 50% currently. We currently do not have a rating on the stock. (Read Report)

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