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| 27-Jun-2013 13:21 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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27-06-2013 13:09:41 STOCKS NEWS SINGAPORE-Index rises for third day as Fed worry eases Singapore shares rose for the third consecutive session and were headed for their biggest daily rise in more than a week, tracking a rebound in global equity markets on easing worries about an imminent end to the Federal Reserve's bond buying. The benchmark Straits Times Index < .FTSTI> rose 1.4 percent to 3,147.28 points. MSCI's broadest index of Asia-Pacific shares outside Japan < .MIAPJ0000PUS> gained nearly 2 percent, pulling away from an 11-month low hit earlier this week. A further drop below 3,000 points would make Singapore stocks a good buy, said CIMB in a research note. It upgraded the Singapore market to " neutral" from " underweight" as valuations have come off with worries about the end of cheap money. " In a slower-growth world with less impetus for multiple expansion, we look for stocks with earnings growth drivers," CIMB analyst Kenneth Ng said. He gave preference to banks over REITs (real estate investment trusts), and favoured developers rather than commodity plays. DBS Group Holdings Ltd for its trade finance success and earnings delivery from multiple fee income streams. CIMB also favours Thai Beverage PCL best exposure to ASEAN consumers. Other stock picks include UOL Group limited Logistic Properties Ltd |
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| 27-Jun-2013 12:06 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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27-06-2013 11:39:29 GLOBAL MARKETS-Asian shares extend gains as Fed, China fears subside * MSCI Asia ex-Japan rises 1.8 pct, Nikkei jumps 2 pct * Fears of Fed stimulus withdrawal, China crunch ease * China money market rates dip further, still elevated * Euro falters on ECB remarks * Precious metals rebound, oil extends gains By Chikako Mogi TOKYO, June 27 (Reuters) - Asian shares extended gains for a second day on Thursday, buoyed by a rise in global equities on expectations that the U.S. Federal Reserve will not rush to end its stimulus programme, and by further signs of improvement in China's strained money markets. MSCI's broadest index of Asia-Pacific shares outside Japan < .MIAPJ0000PUS> rose 1.8 percent, after climbing 1.9 percent on Wednesday to break a four-day losing streak and moving away from an 11-month low touched earlier in the week. Its relative strength index (RSI) improved but remained weak, with investors still nervous after a month-long emerging markets slide. The market tone improved overnight after a surprisingly sharp downward revision to first-quarter U.S. economic growth eased fears that the Fed would soon wind down the bond-buying scheme that has underpinned investor risk appetite. Steadying Chinese markets also helped calm emerging market currencies and stocks. Chinese money market rates moderated for a fifth day on Thursday after last week's spike and stocks recovered some of their recent hefty losses as fears of a credit crunch eased. Hong Kong shares < .HSI> rose 1.5 percent and Shanghai shares < .SSEC> added as much as 1.2 percent before paring gains. Japan's Nikkei stock average, which was pulled down on Wednesday by losses in Chinese shares, rose 2 percent. [.T] Australian shares jumped 1.3 percent < .AXJO> following Wall Street's overnight rally even as investors looked for direction on economic policy after a surprise change of prime minister. Seoul shares extended gains and soared 2.8 percent < .KS11> as foreign investors turned net buyers, poised to snap 14 straight sessions of selling, after prices hit an 11-month low. " The market is seeing a technical rebound on bargain hunting, but (upward moves) are probably not being established as a trend ... the stance on emerging markets is still cautious," said Lim Soo-gyoun, a market analyst at Samsung Securities, of Seoul shares. < ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ Since Fed tapering hint: http://link.reuters.com/wej98t TAKE A LOOK-China's cash squeeze: [ID:nL3N0F10YJ] ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> CHINA ISSUE CONTAINABLE With growing confidence in risk assets, Asian credit markets rallied, tightening the spread on the iTraxx Asia ex-Japan investment-grade index The People's Bank of China did not drain any cash from the open market on Thursday. While short-term borrowing rates eased for a fifth day, they remained elevated, but traders said the credit crunch panic that gripped the market last week has subsided. [ID:nL3N0F221I] Volatility was amplified this week by fears that a crisis in China's banking system would undermine growth in the world's second-largest economy and offset the benefits of a stronger U.S. economy. Chinese markets regained some stability after the central bank earlier this week moved to quell concerns by saying it had provided funds to some institutions and will do so if there is a need. Yet, it remained commited to cracking down on risky informal lending, pointing to tougher conditions for the banking sector ahead and likely more bouts of nerves in Asian markets. " There is a risk that squeezed credit could lead to 'shadow banks' failing, destabilising China's financial system and undermining growth, raising downside risks globally - particularly for countries with high reliance on the Chinese economy," said Takao Hattori, senior investment strategist at Mitsubishi UFJ Morgan Stanley Securities in Tokyo. Fears of shrinking external funding channels, triggered by the Fed's plan announced last week to trim down its stimulus plan, drove the Indian rupee 60.76 on Wednesday, reinforcing the vulnerability of a country with limited reserves and struggling to narrow a record-high current account deficit. DOLLAR FIRMS Worries about China and the prospect of an eventual end to the Fed's quantitative easing were likely to support the dollar, often seen as a safe haven in times ofmarket turmoil. The dollar eased 0.2 percent this session against a basket of major currencies < .DXY> after reaching a near one-month high of 83.025 on Wednesday. It inched up 0.1 percent against the yen to 97.77 U.S. Treasuries prices ended higher on Wednesday on weaker than expected GDP, but a five-year Treasury note auction drew its lowest demand since September 2009, showing persistent jitters over the Fed's future policy course. U.S. crude futures barrel and Brent [O/R] Spot gold a 4 percent tumble on Wednesday which brought prices to near three-year lows of $1,221.80 an ounce. Gold was seen pressured by the dollar's bullish outlook. |
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| 27-Jun-2013 07:38 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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They're lovin' it!
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| 26-Jun-2013 22:25 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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Freshly made everyday! I think your eyes absorbed too much haze lah!!!
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| 26-Jun-2013 18:26 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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Wow! The ang mohs really love the huat kuehs i gave them! Asking for more!!
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| 26-Jun-2013 11:31 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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| 26-Jun-2013 10:29 |
AusGroup
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AUSGROUP: 1H09 revenue up 28.8% to reach A$260.5 m
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Yesterday's Announcement.... SGX RELEASE For Immediate Release Company Registration Number 200413014R 36 Tuas Road, Singapore 638505 Singapore and Australia 25 June 2013 Legal Proceedings commenced against Karara Mining Limited. The Board of Directors (“Board”) of AusGroup Limited (“Company”) announces that its wholly-owned subsidiary AGC Industries Pty Ltd (“AGC”) has today issued a Writ of Summons against Karara Mining Limited (a company incorporated in Perth, Western Australia) (“KML”) in the Supreme Court of Western Australia. AGC’s Writ is in respect of KML’s failure to process, certify and make progress payments amounting in aggregate to approximately AU$43.5 million (the “Progress Payments”) and for a failure by KML to recognise additional corporate overhead and profit of AU$11.2 million which was a performance incentive to achieve certain milestone dates (the “COP Payment”) for structural, mechanical and piping installation works carried out by AGC, at KML’s Karara Iron Ore Project in Western Australia, pursuant to a 2012 contract entered into between AGC and KML (“Contract”). It is AGC’s firm view that the Progress Payments and COP Payment claim are valid under the Contract particularly given that subsequent to our announcement on 3 May 2013, AGC wrote to KML once again on 7 May 2013, requesting that in accordance with the Contract KML provide a written, substantiated and competent claim given that the threat of a claim by KML had been used as a reason for withholding payment since March 2013. Despite that request, and previous demands by AGC, KML has failed to comply with that request. In the circumstances, AGC has no option but to commence legal proceedings. In addition to the Writ, AGC yesterday applied for, and was granted, an interim injunction to restrain KML from converting to cash a performance security bank guarantee in the amount of $AU8.8 million until further order of the Court. AGC has obtained an additional short term working capital facility of $AU9.2 million from its financiers. AusGroup Managing Director and CEO, Laurie Barlow, said: “AGC has not taken this action lightly, however in the interests of our shareholders and other stakeholders, we believe this is a necessary step. AGC is confident that it has fulfilled its obligations under the Contract and firmly believes it is fully entitled to the Progress Payments and COP Payment from KML for the services provided and which can be supported when the matter proceeds to a hearing and formal decision.” Shareholders of the Company (“Shareholders”) are advised to exercise caution in trading their shares in the Company and the Company will make the necessary announcements when there are any material updates on the above matter. The matter is on-going and Shareholders are advised to read all further announcements by the Company carefully and to consult their stock brokers, bank managers, solicitors or other professional advisors if they have any doubt about the action(s) they should take. By Order of the Board Laurie Barlow CEO and Managing Director Ends |
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| 26-Jun-2013 10:27 |
AusGroup
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AUSGROUP: 1H09 revenue up 28.8% to reach A$260.5 m
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Previous Announcement..... SGX RELEASE For Immediate Release Company Registration Number 200413014R 36 Tuas Road, Singapore 638505 Singapore and Australia 3 May 2013 Material Event Announcement The Board of Directors (“Board”) of AusGroup Limited (“Company”) wishes to announce that Karara Mining Limited (a company incorporated in Perth, Western Australia) (“KML”) has withheld progress payments amounting in aggregate to approximately AU$21.7 million (the “Progress Payments”) for structural, mechanical and piping installation works carried out by the Company’s wholly-owned subsidiary, AGC Industries Pty Ltd (“AGC”) at KML’s Karara Iron Ore Project in Western Australia pursuant to a 2012 contract entered into between AGC and KML (“Contract”). Further, KML has provided notice to AGC that KML intends to call on the performance security (“Security”) in the amount of AU$8.8 million in the form of bank guarantees issued by financial institutions, which Security was furnished to KML pursuant to the terms of the Contract. Based on legal advice of AGC’s lawyers, it is AGC’s firm view that the Progress Payments are validly due under the Contract and that KML has not provided a substantiated basis for refusing payment and its intended call on the Security. AGC has also received notification from KML of a claim being prepared against AGC for an unfinalised value. The notification of claim has not been given in accordance with the Contract and KML has not provided any formal substantiation of either the breaches it relies upon or basis for calling on the performance guarantees or withholding the progress payments. Furthermore, in the 13 months AGC has performed this contract, KML have not issued any formal show cause notice under the contract. AGC is actively liaising with KML management to attempt to resolve the current situation either through formal dispute resolution under the contract, or mediation outside the contract. AGC is keeping its bankers informed of these events which may trigger a review event under the company’s banking arrangements. Shareholders of the Company (“Shareholders”) are advised to exercise caution in trading their shares in the Company and the Company will make the necessary announcements when there are any material updates on the above matter. The matter is on-going and Shareholders are advised to read all further announcements by the Company carefully and to consult their stock brokers, bank managers, solicitors or other professional advisors if they have any doubt about the action(s) they should take. By Order of the Board Laurie Barlow CEO and Managing Director Ends |
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| 26-Jun-2013 10:19 |
AusGroup
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AUSGROUP: 1H09 revenue up 28.8% to reach A$260.5 m
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Plunging. | ||||
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| 26-Jun-2013 09:23 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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Yah! Going for dual listing at NYSE also. The US branches doing very well there too. 
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| 26-Jun-2013 08:49 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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 Lai Lai Lai !!! Everybody take one !!! |
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| 25-Jun-2013 22:17 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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Ok i will go buy some more first thing in the morning. I just finished distributing to wall street. Yah cheers!!!
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| 25-Jun-2013 20:43 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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Today very busy distributing huat kuehs around the world. | ||||
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| 25-Jun-2013 14:13 |
AusGroup
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AUSGROUP: 1H09 revenue up 28.8% to reach A$260.5 m
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SGX RELEASE For Immediate Release Company Registration Number 200413014R 36 Tuas Road, Singapore 638505 Singapore and Australia 25 June 2013 Legal Proceedings commenced against Karara Mining Limited. The Board of Directors (“Board”) of AusGroup Limited (“Company”) announces that its wholly-owned subsidiary AGC Industries Pty Ltd (“AGC”) has today issued a Writ of Summons against Karara Mining Limited (a company incorporated in Perth, Western Australia) (“KML”) in the Supreme Court of Western Australia. AGC’s Writ is in respect of KML’s failure to process, certify and make progress payments amounting in aggregate to approximately AU$43.5 million (the “Progress Payments”) and for a failure by KML to recognise additional corporate overhead and profit of AU$11.2 million which was a performance incentive to achieve certain milestone dates (the “COP Payment”) for structural, mechanical and piping installation works carried out by AGC, at KML’s Karara Iron Ore Project in Western Australia, pursuant to a 2012 contract entered into between AGC and KML (“Contract”). It is AGC’s firm view that the Progress Payments and COP Payment claim are valid under the Contract particularly given that subsequent to our announcement on 3 May 2013, AGC wrote to KML once again on 7 May 2013, requesting that in accordance with the Contract KML provide a written, substantiated and competent claim given that the threat of a claim by KML had been used as a reason for withholding payment since March 2013. Despite that request, and previous demands by AGC, KML has failed to comply with that request. In the circumstances, AGC has no option but to commence legal proceedings. In addition to the Writ, AGC yesterday applied for, and was granted, an interim injunction to restrain KML from converting to cash a performance security bank guarantee in the amount of $AU8.8 million until further order of the Court. AGC has obtained an additional short term working capital facility of $AU9.2 million from its financiers. AusGroup Managing Director and CEO, Laurie Barlow, said: “AGC has not taken this action lightly, however in the interests of our shareholders and other stakeholders, we believe this is a necessary step. AGC is confident that it has fulfilled its obligations under the Contract and firmly believes it is fully entitled to the Progress Payments and COP Payment from KML for the services provided and which can be supported when the matter proceeds to a hearing and formal decision.” Shareholders of the Company (“Shareholders”) are advised to exercise caution in trading their shares in the Company and the Company will make the necessary announcements when there are any material updates on the above matter. The matter is on-going and Shareholders are advised to read all further announcements by the Company carefully and to consult their stock brokers, bank managers, solicitors or other professional advisors if they have any doubt about the action(s) they should take. By Order of the Board Laurie Barlow CEO and Managing Director Ends
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| 25-Jun-2013 10:44 |
AusGroup
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AUSGROUP: 1H09 revenue up 28.8% to reach A$260.5 m
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Trading Halt. LEGAL PROCEEDINGS AGAINST A CUSTOMER |
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| 25-Jun-2013 10:34 |
ThaiBev
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up or down on debut?
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 F& N giving ang baos?!?! |
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| 25-Jun-2013 09:42 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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 Jiak Bah Buay Baos |
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| 24-Jun-2013 10:54 |
Vard
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Vard Holdings
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Vard Holdings Voices from the Customers Reiterate Buy, order intake to gather pace in 2H13. Vard’s share price is off its low of SGD1.015 following an unwarranted selldown previously. While there are some easing of concerns over margins and order intake, further rerating would need to be triggered by real order wins which we believe would gather pace towards 2H13. Vard has the most attractive valuations among the O& M stocks under our coverage, trading at 5.8x FY14F PER, 5-6% forward dividend yields and FY13- 15F ROEs of > 25%. Reiterate Buy and TP of SGD1.65. Buildup of activities in the North Sea. Optimism expressed by leading OSV owners following their 1Q13 results generally support our view that high end OSV newbuild ordering is on the verge of picking up again in 2H13. GulfMark Offshore remarked that North Sea fixtures are being set at higher-than-expected levels. Tidewater Inc.’s recent acquisition of Troms Offshore to expand into the Norwegian market reflects their view on the long term attractiveness of the North Sea market. Average utilisation and charter rates for AHTSs and PSVs are generally rising although there are still occasional bouts of volatility. An oversupplied order backlog may still hinder new orders but that should ease as most vessels get delivered in 2013. Solstad believes that there are opportunities for AHTS and PSV orders to surprise on the upside this year. New rigs entering the market warrants more support vessels. A common notion brought up by the OSV owners is that a large number of rigs (> 50) entering into service over the next 12 months would warrant the need for more support vessels. We concur with this view which is consistent with rig delivery schedules of Singapore rigbuilders under our coverage. Construction vessels market still steady. The subsea construction market is still strong and Solstad believes that it is underpinned by solid fundamentals and limited availability of modern and large construction vessels. A batch of pipelay vessel orders from Petrobras potentially worth NOK3b is still in the cards which would be a bonus to our expectation of NOK11.5b in new order wins for Vard this year. The award could be near as Petrobras has recently been returning to the market to issue tenders which have been outstanding since 2012.
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| 24-Jun-2013 10:42 |
Vard
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Vard Holdings
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Vard Holdings: Voices from the Customers Buy TP $1.65 Maybank Kim Eng |
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| 21-Jun-2013 18:17 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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Volatility is the name of the game! | ||||
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