x 0

Following 2 scenarios will apease singaporeans :

1) Set up another Investment Unit (seperate from Temasek) and appoint new person take over leadership.

2) Retain Temasek and its existing leadership. May consider change the company's name or continue to have same name since it has been quite 'unique'. in some ways...

teeth53 ( Date: 20-Jun-2009 10:09) Posted:

GIC has made it move timely, so is capitaland. both are making news for the good of either both.

Capital Chairman is Dr Richard Hu Tsu Tau and the Deputy Chairman is Mr Peter Seah Lim Huat. The sole executive director is Mr Liew Mun Leong, who is the President & CEO

Just wondering will Temasick make such move..?. B4 she leave....?.

x 0

Its time our government look into possibility of Bank merges with Insurance company like DBS n NTUC income. They already had in mind to have another investment unit besides GIC and Temasek and i think this is a good move. So as merger of bank/insurance which i believe, could bring even greater benefits to singaporeans. Imagine DBS share at $40.00? (comparable to those US banks).

Merger Benefits -

1) Dollar-to-dollar medical insurance (medi-save) for young children. From birth, each singaporean child should have a medi-save account and Whatever Parents' savings in medi-save, children get every dollar of it credited by the government. Medi-save accounts should be set up early for our youngs since the medical costs have been increasing all the time.

Comments and ideas are welcomed ........bring it on.

niuyear ( Date: 17-Aug-2009 15:34) Posted:

Country like canada has proposal of bank and insurance companies to merge. DBS and NTUC Income, a good match...

x 0

Am waiting to buy if it goes a bit lower. No hurry to buy since its for long term.:)

The newly erected barricade along the mrt stationtion platform -

I hate the sight of the newly erected barricade when i was happened to be a pasir ris mrt station. What are they for? They dont serve any purpose. If anyone wanna commit suicide, they can still do so. Kids can still fall from the gap between the barricade and worst still, kids will play around there like 'hide and seek' or police catch thief etc........this will cause more accidents than before. I wonder who designs this?

x 0

Judging the recent sell down in stock market, will this reach 1.65? If so, will it be considered a good buy?

niuyear ( Date: 12-Aug-2009 09:41) Posted:

Director buying of 10,000 share is very peanut. i.e only 10 lots. I've got gut feeling this stock will be shorted down to 1.65 as DBS vickers has recommendation as 'Neutral ' (think last week) and TP is $1.65.

samloh28 ( Date: 09-Aug-2009 17:31) Posted:

Dear all SMRT investors (retail investors and Big Boys),

a. Mr Ong Ye Kung Director SMRT just bought 10,000 shares of SMRT at S$1.72/share on 8 Aug 2009. What does it mean? It probably means great confidence on SMRT shares and the shares likely to surge upwards in the coming months. If we look at SMRT shares in the recent Straits Times report on Tamasek's porforlio, SMRT's gain in value this year is only 11%, as compared to more than 50% for other Tamasek's shares.

b. With other Stages Circle Line stages progressively opening next year (2010), it will be boon to SMRT's revenue and profits should surge with the rise in ridership.

c. SMRT's revenues (through greater retail/rentals at the new SMRT and existing stations, from observations) and greater Circle Line contibutations next year, will ensure the net profits to grow upwards and it just mean that SMRT is a growth stock, yet to reach its potential yet.

x 0

Country like canada has proposal of bank and insurance companies to merge. DBS and NTUC Income, a good match...

x 0

Are 3 local banks enough to serve our increasing population? Will our government consider adding another 1 to make it 4? Like our 4th up and coming University.

Holding of banks share for long term seems to be 'a thing of the past'. Who could guarantee nothing would go wrong? Instead of adding 1 more, thing could change and make it remains 2? LOL, God knows.

x 0

In US market, the most short-sold stocks are index S&P500 (fell to lowest since Feb). as well as banks , insurers and brokerage firms are also among the heavily shorted stocks past days. This cld be reason for bank stocks so badly hit as well.

x 0

Think i will just hold on to it (small lot only) and i believe it should perform well in time to come. Cheers!

x 0

Huh!! $10.80!! My goodness!

wongmx6 ( Date: 12-Aug-2009 10:59) Posted:

DBS Group Holdings 11 August 2009 Results review DBS reported net earnings of S$552mil (-17.4% yoy, +21.1% qoq, 1Q09: S$456mil) due to higher revenues in both interest income and non-interest income segments. Allowances were 12.6% higher over the quarter signifying the tough operating environment in the industry. Net interest income grew to S$1112mil (+5.1% yoy, +3.4% qoq) from the expanded loan base over the year. Net interest margins fell 3bps over the year to 2.01% as improved credit spreads and reduced funding costs were negated by lower returns on interbank assets. Non-interest income increased 25.7% to S$680mil (+25.7% yoy, +16.0% qoq, 1Q09: S$586mil) over the year from higher fee income (+4.7% yoy, +12.9% qoq), trading activities (+110.8% yoy, +14.7% qoq) and net income on financial investments (+181.6% yoy, +30.2% qoq). Expenses were lower at S$631mil (-8.2% yoy, -1.1% qoq) due to lower staff costs from the reduction in headcount. Cost to income was lower at 35.2%. Gross loans expanded to S$130.4bil (+8.4% yoy, -1.8% qoq), driven by loans expansion in building and construction (+14.6% yoy) and financial institutions, investment and holding companies (+36.9% yoy). However, as compared to last quarter, gross loans contracted 1.8% due to currency translation effects with all sectors reporting a decline except financial institutions and private individuals. Manufacturing industry reported the steepest decline of 8.0% over the quarter. The Group took another S$466mil allowance for loans and other assets comprising of S$ 183mil for general allowances, S$272mil for specific allowances. NPLs jumped over the quarter to S$3.70bil while the NPL ratio spiked to 2.8% from 2.0% in 1Q09 due to exposures to shipping and Middle East corporates and institutions. Total cumulative allowances slipped to 81% of NPAs as compared to 97% last quarter. DBS remains to be well capitalised with Tier 1 ratio higher at 12.6% but total CAR ratio lower at 16.2% due to Tier 2 subordinated debts amortization. Provisions to rise We adjust our NPL ratio assumptions upwards from 2.0% to 3.2% for 2009 as asset quality deteriorated faster than expected. We also forecast impairment charges to remain high in the second half of this year as coverage ratio to beef up to 80% from the current 68% of NPLs. This will certainly add pressure to earnings for 2H09. Be prepared for dividend cut Despite maintaining dividends of 14 cents, similar to the 1Q09, we do not think that it will be sustainable. Payout ratio of 66% in the first 1H09 is considered high in the industry. High payout ratio will also discount growth in our financial modeling. Recommendation Although we have reduced the market risk premium in our Gordon Growth Model across the three banks, high payout ratio and low ROE pose a downside risk to DBS’ valuation. The subsequent rights issue boosted the equity substantially and with earnings declining, it is difficult to expect ROE to go beyond 10%. It is a matter of lower dividend payout or reduced growth assumption.
Accordingly, our target price has been adjusted to S$10.80. This is pegged to 1.05x
FY09 NAV. But we do note that this valuation is a steep discount to the 5-year
average P/B ratio of 1.4X NAV. We downgrade the rating to SELL.

wongmx6 ( Date: 12-Aug-2009 10:57) Posted:

Phillip Securities Research.

Recommendation:
SELL
Previous call: Hold
Price
Previous close S$12.84
Fair value S$10.80
Date : 11 Aug 09

x 0

I saw from TV this morning either Bloomberg or Channel news asia while i was walking out of the house abt JP morgan's upgrade. OCBC yesterday has a 'BUY' rating and its TP is 14.85.

p/s - I copy / paste the ocbc's recommendation for your info and its distorted. Sorry for that.

bh704428 ( Date: 12-Aug-2009 10:47) Posted:

so when was this $16 price target dated/released to the public?

niuyear ( Date: 12-Aug-2009 09:37) Posted:

JP morgan has buy target $16 plus. Saw over the TV.

Dont tell me they are the one who had been shorting this stock down and then now they upgrade? All these shorting down, upgrading etc are gimmicks? Arent they?

x 0

I saw over the TV this morning either bloomberg of channel news asia while i was walking out of the hous

A No. 010/06/2009

Please refer to the important disclosures at the back of this document.

DBS Group Holdings Ltd

Better than expected 2Q09 results

of S$552m, down 15% YoY but +27% QoQ, and were above the median

estimate in a Bloomberg survey of S$425m. Net Interest Income improved

5.1% YoY or 3.3% QoQ to S$1112m in 2Q09. From the fee income side,

the best performers were its Stockbroking (+28%YoY and +79% QoQ),

Investment-related (+59% QoQ), Wealth Management (+31% QoQ) and

Fund Management (+20%QoQ) units. Cost-to-income ratio also improved

from 42.5% in 2Q08 to 38.4% in 1Q09 and then to a significantly lower

35.2% by 2Q09. Non Interest Income rose 22% YoY and 16% QoQ to

S$680m.
. DBS Group posted 2Q09 net earnings
As expected, impairment charges remained high

$90m in 2Q08 to $437m in 1Q09 and $466m by 2Q09 (OCBC of S$104m

and UOB of S$465m for 2Q09). Net Interest Margin (NIM) was better QoQ,

but down YoY. It improved from 1.99% in 1Q09 to 2.01% in 2Q09. The

group has declared a dividend of 14 cents for this quarter. For 1H09, the

group posted earnings of S$985m or 46% of our revised FY09 forecast.
. This surged from
Upping FY09 and FY10 estimates.

we have revised our earnings estimates. While we expect impairment

charges to remain high, we believe that 1Q and 2Q were the peak quarters

and impairment charges should come off in 3Q and 4Q. We are projecting

lower charges of S$567m in 2H09 versus S$903m in 1H09. In addition,

with the rally in the equity market, we expect capital market activities and

fee-based income to improve and we have raised our estimates for 2H09.

Overall, we are increasing FY09 earnings from S$1572m to S$2128m. For

FY10, we have also upped our estimates from S$1965m to S$2401m.
With improving economic prospects,
Maintain BUY, raised fair value estimates to S$14.65.

the improved economic outlook, although uncertainty still remains and

unemployment is still high in the US, valuations for the three local banking

stocks have also moved up higher. To reflect this trend, we are raising our

valuation peg from 1.2x to 1.4x book and this in turn raises our fair value

estimate from S$12.40 to S$14.65. At this price, valuation is 15.7x FY09

earnings and 13.9x FY10 earnings. Assuming that the group maintains its

14 cents per quarter dividend payout, annual yield is fairly decent at 4.4%

based on current price. We are maintaining our
Together withBUY rating on DBS.e. OCBC securities also has a BUY rating yesterday with TP $14.85.

bh704428 ( Date: 12-Aug-2009 10:47) Posted:

so when was this $16 price target dated/released to the public?

niuyear ( Date: 12-Aug-2009 09:37) Posted:

JP morgan has buy target $16 plus. Saw over the TV.

Dont tell me they are the one who had been shorting this stock down and then now they upgrade? All these shorting down, upgrading etc are gimmicks? Arent they?

x 1

x 0

I think DBS share price'a slump is due to its earning has declined and people take it as a bad news and once BB start to short down, everyone follows. Also the recent court case of Lehman brother saga could have put some pressure on its share price. If it goes down somemore, i would think there could be more serious problem than the above as being the biggest lender in singapore, bad debt i.e. housing loan and credit cards might be taking its toll on the share price.

Hope the up and coming singaporean CEO could bring the bank high into the sky.

x 0

Director buying of 10,000 share is very peanut. i.e only 10 lots. I've got gut feeling this stock will be shorted down to 1.65 as DBS vickers has recommendation as 'Neutral ' (think last week) and TP is $1.65.

samloh28 ( Date: 09-Aug-2009 17:31) Posted:

Dear all SMRT investors (retail investors and Big Boys),

a. Mr Ong Ye Kung Director SMRT just bought 10,000 shares of SMRT at S$1.72/share on 8 Aug 2009. What does it mean? It probably means great confidence on SMRT shares and the shares likely to surge upwards in the coming months. If we look at SMRT shares in the recent Straits Times report on Tamasek's porforlio, SMRT's gain in value this year is only 11%, as compared to more than 50% for other Tamasek's shares.

b. With other Stages Circle Line stages progressively opening next year (2010), it will be boon to SMRT's revenue and profits should surge with the rise in ridership.

c. SMRT's revenues (through greater retail/rentals at the new SMRT and existing stations, from observations) and greater Circle Line contibutations next year, will ensure the net profits to grow upwards and it just mean that SMRT is a growth stock, yet to reach its potential yet.

x 0

JP morgan has buy target $16 plus. Saw over the TV.

Dont tell me they are the one who had been shorting this stock down and then now they upgrade? All these shorting down, upgrading etc are gimmicks? Arent they?

x 0

wongmx6, Sorry, dont bother to reply my post. I was seeing report that making comparison of last year and this year's 2nd quarter report. :)

niuyear ( Date: 07-Aug-2009 17:42) Posted:

wongmx6

Am wondering where did you see the 'Profit of SGD 552 million'?

I think DBS has 'net profit decline of 17% to $552 million.' from 652 million in the prior year quarter. ?

wongmx6 ( Date: 07-Aug-2009 09:34) Posted:

Sorry below was a wrong statement,

SECOND-QUARTER NET PROFIT is SGD 552 MILLION. Not i have mentioned 380 Million.

x 0

wongmx6

Am wondering where did you see the 'Profit of SGD 552 million'?

I think DBS has 'net profit decline of 17% to $552 million.' from 652 million in the prior year quarter. ?

wongmx6 ( Date: 07-Aug-2009 09:34) Posted:

Sorry below was a wrong statement,

SECOND-QUARTER NET PROFIT is SGD 552 MILLION. Not i have mentioned 380 Million.

wongmx6 ( Date: 07-Aug-2009 09:26) Posted:

Just a quick glance,

For last Quarter, This elephant only make 380 Million as compare with the other 2 local banks. they make more than 450 Million.

x 0

Hahaha..... 'fall' is a simple word but got different meaning. Smiley

cheongwee ( Date: 05-Aug-2009 23:37) Posted:

hey...my fall..i ma refering to season...after summer then fall, after fall then winter and so on..

not stock fall fr high..

pilotfish ( Date: 05-Aug-2009 23:33) Posted:

Well, what can I say, It is market cycle. Logically speaking, economy is not fully recovered.

Deep correction doesn't mean the bull is not there.

Buy low doesn't mean to buy at the begining of a fall. Like LiHeng, though I am not able to catch the low in mid June but it was just 0.5 cent i.e 19.5 cents.

See whether I am able to catch it this time at 20 cents. Smiley

x 0

When US president Obama speaks, better listen.

In March'09 when he said 'I think it is time to buy stock' when stock prices were being at its lowerst, not long after that, the prices of stocks surged.

The below article has posed a question for me as in : Is Obama speaking ahead of the movement of the coming stock market? What lies ahead of this message that 2nd Qtr is like to contract?

el7888 ( Date: 31-Jul-2009 07:52) Posted:

US economy likely to contract in second quarter, says Obama
Posted: 31 July 2009 0506 hrs

Photos 1 of 1

Barack Obama

WASHINGTON: President Barack Obama said on Thursday that despite signs of a US economic recovery, figures will likely show gross domestic product contracting in the second quarter of 2009.

"I suspect that GDP numbers will still show that the economy contracted in the second quarter, that job loss is still a huge problem," Obama said.

His comments come ahead of the publication on Friday of results offering a snapshot of how the world's largest economy fared between April and June.

Many hope those figures will point to the end of an 18-month crippling recession, after desperately gloomy figures in the previous two quarters.

Figures from the Bureau of Economic Analysis showed the economy shrank 5.5 percent in the first quarter, after a 6.3 percent slide in the fourth quarter of 2008.

Obama, echoing the expectations of forecasters who see growth resuming in the second half of 2009, sounded an optimistic tone about the economy.

"We have seen a significant slowing down of the contraction over the last several months," Obama said, pointing to a slowing of job and output losses, and an easing of credit markets.

"All of that is a sign that we have stepped away from the precipice."

"We were in a position where we could have gone into a great depression. I think those fears have abated." - AFP/de

x 0

hahaha! Got it. Tks. All the analysts' reports are 'much of the muchness' and the only difference is 'recommendation' of eith sell/buy/hold/neutral...

Talk about analysts' reports. I was taken by surprise one analyst's report as follows:

e.g. - We have a buy call for this ABC stock, and we will be the BUYER of this stock.......

I hope they mean what they say and usually this is after 3 days of reporting of grace period.? Or are they already holding an AXE and waiting to grind you once you enter.............only god knows.

singaporegal ( Date: 30-Jul-2009 20:38) Posted:

He probably means that its an uptrend. But he says it in a round-about fashion by throwing in caveats and disclaimers.

Typical analyst-speak.

niuyear ( Date: 30-Jul-2009 17:07) Posted:

I dont understand the following para:

'This rally, while it will have its fits and starts, is the beginning of a new trend, not just a bounce,” said Michael Williams, managing director of New York-based Genesis Asset Management, which oversees about $2 billion. “It is a significant opportunity

I think 'new trend' means - the new type of stock rally pattern that wont last ? LOL

x 0

I dont understand the following para:

'This rally, while it will have its fits and starts, is the beginning of a new trend, not just a bounce,” said Michael Williams, managing director of New York-based Genesis Asset Management, which oversees about $2 billion. “It is a significant opportunity

I think 'new trend' means - the new type of stock rally pattern that wont last ? LOL

phil1314 ( Date: 30-Jul-2009 16:00) Posted:

Hi Richtan,

Did you read this article in Bloomberg?

Dow Sends Buy Signal That’s Worked Since 1921: Chart of the Day

By Eric Martin and Michael Patterson

July 29 (Bloomberg) -- The Dow Jones Industrial Average is sending a buy signal that has foreshadowed gains of 18 percent during the past nine decades.

The 30-stock gauge climbed to more than 10 percent above its mean level from the previous 200 days, rebounding from 34 percent below the so-called 200-day moving average in November, according to data compiled by Bloomberg. Eighteen of the last 21 times the Dow rallied from at least 10 percent below the 200-day level to 10 percent above, it posted gains during the next 12 months, Bloomberg data since 1921 show.

The CHART OF THE DAY tracks the difference between the Dow’s last price and its 200-day average since 1989. The lower panel displays the measure’s price, along with the buy signals it sent near the start of rallies in 1991, 1999 and 2003.

“This rally, while it will have its fits and starts, is the beginning of a new trend, not just a bounce,” said Michael Williams, managing director of New York-based Genesis Asset Management, which oversees about $2 billion. “It is a significant opportunity.”

The Dow posted an average advance of 18 percent during the 12-month period following buy signals since 1921, Bloomberg data show. In the six-month period, there were 17 advances for an average gain of 8.2 percent. In three months, it climbed 18 times, averaging an increase of 5.7 percent

And also article from The Edge:

Chart watch: Uptrend intact by Goola Warden.

Since the 200-day moving average only turned up on July 23, and annual momentum and 24-month ROC are rising and still below their equilibrium lines, the bull market has yet to run its course. Eventually, the STI may even retest its all time high at 3,875. In the short term, though, stochastics is turning down from the top end of its range that may stay the hand of investors and traders.

Support is initially at 2,484, and then at the rising 50-day moving average at 2,348. This moving average has so far proved to be a pretty good support line.

richtan ( Date: 30-Jul-2009 12:24) Posted:

Below is my daily chart analysis for sharing and exchange pointers.

My TA chart is posted to share n exchange pointers with those TA practitioner whom believes in TA.

If u are a TA detractor, plse just ignore n refrain from peeping at my chart posting n start

making unconstructive comments and plse do not be so childish or lunatic as to abuse the

rating system by rating it as "bad post", accumulating for yourself and your

next generation, "bad" karma for your "bad" deeds.

If u think it is a bad post, then be constructive and kindly post your TA for sharing.

This is only my view n I may be right or wrong, so dyodd.