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Latest Posts By Peter_Pan - Supreme      About Peter_Pan
First   < Newer   3341-3360 of 4497   Older>   Last  

06-Feb-2013 19:35 DBS   /   DBS Results Out       Go to Message
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Weak 4Q does not negate thesis
4Q12 was below expectations due to greater-than-expected NIM 
compression, a rise in credit costs and higher opex. Reflecting
seasonality, IB and trade fees were weak though wealth management 
and credit cards. Some of the negatives look one-off in nature.
We are not too concerned. 4Q12 core 
net profit (S$760m)   fell below our 
S$807m and   Street’s S$787m. FY12 
forms 98% of our FY12. DBS has
guided for   bottoming   margins. We
trim FY13-14 EPS by 2-3% but 
maintain Outperform with a slightly 
higher DDM-based target price (1.27x 
CY13 P/BV   g 4.2%) after trimming 
margins. Catalysts are still expected 
from a variety of fee earnings drivers.
No margin reprieve 
Net interest income was flat qoq as 
NIM contracted another 5bp to 1.62%.
Loan volumes were up 4% qoq, while 
LDR edged up to 87%. Hong Kong 
margins were stable (+1bp). Margin
contraction in China   (regulatory
driven) carried over from earlier 
quarters. Management’s guidance on
margins was surprisingly bullish -
margins could be close to a bottom as 
the yield curve steepens. Loan growth 
came mostly from Singapore and Rest 
of Greater China sector-wise,   the
growth was led by   building &  
construction and general commerce.
Higher costs, allowances
Seasonal effects took their toll on IB 
and trade fees,   though decent 
credit-card, wealth-management and 
trading income compensated, so 
non-NII was better than   expected.
Better revenue was, however, doused 
by higher costs and provisions. Costs 
went up mostly on computerisation 
costs. 4Q cost ratio rose to 48%. 
Provisions   climbed 50% qoq, both 
from general and specific allowances. 
While this was a broad-based scrub of
its loan book,   management did say 
provisions should trend up from 
current low levels.
Seasonality and one-offs 
Higher computerisation costs and 
weak IB fees appear to be more 
seasonal and/or one-off. The more 
structural negative was rising credit 
costs, but we expect that to be an 
industry trend. Unrelenting margin 
squeeze is the more company-specific 
negative, but the guide for bottoming 
margins sounds like a reprieve.
Good Post  Bad Post 
06-Feb-2013 18:02 Midas   /   Midas       Go to Message
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x 0 		MIDAS’ JV COMPANY NANJING SR PUZHEN RAIL TRANSPORT SECURES RMB710 MILLION METRO CONTRACT
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06-Feb-2013 13:12 DBS   /   DBS Results Out       Go to Message
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x 0 		DBS Group -
Weak 4Q does not negate thesis
- (OUTPERFORM - Maintained | S$15.20 - Tgt. S$17.39 Banks) - CIMB
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06-Feb-2013 11:35 DBS   /   DBS Results Out       Go to Message
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x 0 		06-02-2013 10:56:05
DBS CEO sees strong business momentum in 2013

SINGAPORE, Feb 6 (Reuters) - DBS Group Holdings  , 
Southeast Asia's biggest lender, is seeing strong momentum in 
its business this year, helped by a pick-up in loan growth in 
December and buoyant capital markets, CEO Piyush Gupta said on 
Wednesday. 
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06-Feb-2013 11:20 Dyna-Mac   /   Dyna-Mac Holdings       Go to Message
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x 0 		Must be patient. ok? Cheers! Strongholders will be rewarded handsomely.

Tropical      ( Date: 06-Feb-2013 11:19) Posted:

no power.....looked weak. how to have surprise.

Peter_Pan      ( Date: 06-Feb-2013 11:07) Posted:

You will be surprised.
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06-Feb-2013 11:18 Dyna-Mac   /   Dyna-Mac Holdings       Go to Message
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x 0 		JPMorgan is Overweight on Dyna-Mac with a Target Price of $0.64.
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06-Feb-2013 11:17 Dyna-Mac   /   Dyna-Mac Holdings       Go to Message
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x 0 		Dyna-Mac is set to benefit from the rising FPSO demand and potential UAE jobs are in the pipeline.
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06-Feb-2013 11:10 Vard   /   STXOSV       Go to Message
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x 1 		STXOSV $1.555 COME MSmileyNEY COME
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06-Feb-2013 11:09 Vard   /   STXOSV       Go to Message
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x 0 		It is ready to move up finally. lol
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06-Feb-2013 11:07 Dyna-Mac   /   Dyna-Mac Holdings       Go to Message
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x 0 		You will be surprised.
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06-Feb-2013 11:05 Ezra   /   Ezra       Go to Message
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x 0 		" Optimism about an improving macro environment and fund flows   
from bonds to equities should continue to underpin equity   
markets," said DBS Vickers in a note.   
The brokerage said it expects 2013 to be another strong year   
for offshore and marine companies, as sustained high oil prices   
will mean continued investment into the sector.   
Oil services and equipment providers such as Ezion Holdings   
Ltd    and Ezra Holdings    are expected to   
outperform rigbuilders like Keppel Corp    , as steady   
contract wins help to improve earnings visibility.
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06-Feb-2013 10:23 DBS   /   DBS Results Out       Go to Message
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x 0 		DBS Group Holdings - BUY-
Price/Target: S$15.20/S$19.38 - 4Q12: Still surging ahead - UOBKH
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06-Feb-2013 10:21 DBS   /   DBS Results Out       Go to Message
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x 0 		DBS: Results Flash - Sequentially weak 4Q12 core earnings (NEUTRAL, S$15.20, TP: S$14.83) - DMG
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06-Feb-2013 10:19 DBS   /   DBS Results Out       Go to Message
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x 0 		DBS: Slightly below expectations 4Q - BUY - TP $15.94 - OCBCS
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05-Feb-2013 22:22 Straits Times Index   /   STI to cross 3000 boosted by long-term investors       Go to Message
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x 0 		I do my own research and this is the case. It is better to take calculated risk than to anyhow humtum.

kelvinLim123      ( Date: 05-Feb-2013 22:06) Posted:



Fund manager told you they buy? Unless you are FM, and u buy.

 

Peter_Pan      ( Date: 05-Feb-2013 21:54) Posted:

Fund managers are already starting buying into equities and continue doing so on a regular basis.
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05-Feb-2013 21:54 Straits Times Index   /   STI to cross 3000 boosted by long-term investors       Go to Message
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x 1 		Fund managers are already starting buying into equities and continue doing so on a regular basis.
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05-Feb-2013 21:27 Straits Times Index   /   STI to cross 3000 boosted by long-term investors       Go to Message
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The momentum for the U.S. stock market for the rest of the year looks " very favorable," Jim O'Neill, Goldman Sachs Asset Management chairman, told CNBC on Tuesday.

" There's clear evidence of things doing better economically around the world," he said in a " Squawk Box" interview, including a resurgent China.

But O'Neill added there also are a few worrisome signs such as the broad government spending cuts known as " the sequester" in Washington and new uncertainties about politics in Spain and Italy.

Taken as a whole for U.S. stocks, " the underlying momentum for the rest of the year is very favorable," he argued. " [And] rushing to sell if you're a medium term player is probably not a smart move." Though, he added, he does think a correction is possible, and for investors who've locked in a profitable January, taking some money off the table " is not a crazy idea either."

" The scale of the rallies we've seen in January means you got to ask those kind of questions because nothing goes in a straight line."

As for China, O'Neill said he's always been skeptical of the slowdown storyline and thinks further Chinese economic data will show further strength. " More importantly, China is adjusting to an economy not so dependent on exports and government investment.

He also expressed optimism about Japan and the economic revival plans being pursued by the government there.
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05-Feb-2013 19:53 Straits Times Index   /   STI to cross 3000 boosted by long-term investors       Go to Message
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x 0 		“Yesterday was just an excuse to sell off,” Matthew Beesley, who helps oversee $3 billion as head of global equities at Henderson Global Investors Holdings Ltd. in London, said in a Bloomberg Television interview with  Mark Barton.
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05-Feb-2013 19:50 Straits Times Index   /   STI to cross 3000 boosted by long-term investors       Go to Message
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The euro zone's embattled economy has turned a corner, according to a business survey on Tuesday that showed businesses are more optimistic about the future but highlighted a growing chasm between the region's economies.

Markit's Eurozone Composite PMI, which gauges business activity across thousands of companies and is seen as good gauge of growth, rose in January to a 10-month high of 48.6 from 47.2 in December - an improvement on the preliminary reading of 48.2.

While still signalling a contraction as the index has been below the 50 mark that signifies growth since February last year, it has risen consistently in the last three readings.

Private industry makes up nearly two-thirds of the euro zone's economy and worryingly for policymakers, the data showed a widening chasm between Germany - Europe's largest economy - and France, the bloc's second biggest.

" The euro zone is showing clear signs of healing, with the downturn easing sharply in January and the region moving closer to stabilization in the first quarter," said Chris Williamson, chief economist at Markit.

" Growth is heavily skewed towards Germany, however, where the contrast with the contraction seen in France is the greatest seen since the survey began in 1998."

Markit's composite German PMI chalked up its biggest one-month rise since August 2009, soaring to its highest since June 2011. But in neighboring France it plummeted to its lowest in nearly four years.

France's services PMI was even below readings from perennial laggards Spain and Italy.

The euro zone PMI for services firms, which make up almost half of the bloc's economy, rose to a 10-month high of 48.6 from 47.8, above a flash estimate of 48.3.

On the Up

The economy likely contracted 0.4 percent at the end of last year, notching up its third negative quarter, and will only stagnate in the current period, according to a Reuters poll published last month.

But on the whole the thousands of services firms surveyed, ranging from banks to restaurants, were at their most optimistic since last May, with the business expectations index jumping to 56.4 from 52.5.

That was the biggest one-month rise in the index since August 2009, just as the troubled bloc emerged from the previous recession.

Euro zone factories had their best month in nearly a year during January as burgeoning German output offered support, data released last week showed.

Still, firms across the 17-nation bloc reduced their work force again last month and at the fastest pace in over three years, with the composite employment index falling to 46.1 from December's 47.3.

Unemployment hit a record 11.7 percent of the working population in December, but inflation fell to a two-year low of 2 percent in January, according to official data on Friday. (Reuters)

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05-Feb-2013 19:04 Midas   /   Midas       Go to Message
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x 0 		See, you also know.

NICHOLASCHUA      ( Date: 05-Feb-2013 19:01) Posted:

Sifu Peter, please enlighten me on why was that being done? To shake off the weak/contra holders or to have a better price for accumulation?

Peter_Pan      ( Date: 05-Feb-2013 18:40) Posted:

Earlier on purposely pushed down by the big players.
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