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30-Jul-2008 14:53 | Li Heng Chem / Li HENG Go to Message | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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can it breakout 0.65? next resistance line 0.67? | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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29-Jul-2008 22:47 | Li Heng Chem / Li HENG Go to Message | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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UOB Initiate coverage with BUY recommendation and target price of S$0.845, representing 6.4x FY08PE and 5.2x FY09PE. Li Heng Chemical Fibre Technologies Limited (Li Heng)'s predecessor wasChangle Liyuan Polyamide Enterprise Co., Ltd, which was established in 2003and acquired by Li Heng in 2006. Li Heng has become a leading manufacturerof high-end nylon fibre products and has a solid sales network that covers all thetextile production hubs in China. Li Heng plans to achieve economies of scaleby enlarging its annual production capacity. Leading position in high-end nylon fibre market. Li Heng is a large high-endnylon fibre manufacturer in China with an annual production capacity of 92,400tonnes in 2007. It achieved a stunning three-year net profit CAGR of 107.6% forFY04-07 through a combination of organic growth, increased production capacity,and the introduction of new products. The company is heading for the nextstage of growth by further expanding capacity, widening its geographical coverage,and moving up the supply chain to mitigate raw material supply risks and becomemore profitable. Propelled by strong downstream demand. With the strong growth in textileexports and domestic consumption of garments and clothing (5-year CAGR of21.9% and 17.7% respectively for FY01-06), demand for nylon is expected to seesustained double-digit growth. China's nylon producers are working hard tomeet the strong domestic demand, which has outstripped domestic supply andhas to rely on imports. Li Heng is riding on buoyant downstream demand,leveraging on high product quality and keeping its gross margin stable at 34-35% p.a. despite rising raw material prices. 2008F Turnover(Rmbm) $4,160.3 EBITDA (Rmbm)$1,354.5 Net Profit (Rmbm) $1,093.5 EPS(Rmb)$0.67 |
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29-Jul-2008 22:36 | Li Heng Chem / Li HENG Go to Message | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Press Release - Li Heng Signs Contracts for Construction of Polyamide Chip Plant Singapore, 29 July 2008 – Li Heng Chemical Fibre Technologies Limited (“Li Heng”) is proud to announce that it has entered into contracts with leading German engineering and construction company Lurgi Zimmer GmbH (“Lurgi Zimmer”) and Chinese firm Beijing Sanlian Hope Textile & Chemical Technology Co., Ltd (北京三联虹普 纺织化工技术有限公司) (“San Lian”) to commence the construction of its polyamide chip plant as part of the Liheng (PRC) Phase III Development set out in its Prospectus dated 29 February 2008. The plant has a designed daily production capacity of 200 metric tons of high quality textile grade polyamide chips (“PA chips”). PA chips are the essential feedstock for the production of nylon yarn products. To cater for the polyamide chip plant, construction of additional building facilities and supporting infrastructures has begun in April 2008. The total cost of the polyamide chip plant, building facilities and supporting infrastructure is estimated at approximately RMB550 million, which is approximately RMB50 million higher than initially estimated as set out in the Company’s Prospectus dated 29 February 2008 due to general increases in raw material costs in 2008. RMB500 million of the cost of the polyamide plant will be funded from the IPO proceeds and the remaining RMB50 million will be from internal source. The polyamide chip plant will be located at Li Heng’s current production base at Binhai Industrial Zone (滨海工 业区) in Changle City, Fujian Province, PRC and expected to commence commercial production in the third quarter of 2009. Upon completion, Li Heng will be able to reduce its reliance on external suppliers of PA chips while ensuring better control of the quality of the PA chips, leading to overall costs efficiency and better quality nylon yarn products. Lurgi Zimmer will provide the technology, basic engineering, procurement of certain equipment and supervision services. Lurgi Zimmer is a leading German engineering company which focuses on technologies and plants for polymers, synthetic fibres, plastics etc. The company’s know-how covers its own polyamide technology and it has built some 160 polyamide polymerisation plants since 1953. San Lian will provide design solution, technical support and sourcing for certain machinery and equipment. San Lian is a leading Chinese chemical & fibre industrial engineering company which integrates equipment manufacture, engineering design and engineering services. -- End -- |
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29-Jul-2008 22:23 | Mercator Lines / Mercator Lines Go to Message | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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July 29, 2008, 2.41 pm (Singapore time) BT Mercator's Q109 net profit jumps 16-fold SINGAPORE - Mercator Lines (Singapore) saw Q1 FY2009 net profit jump 16-fold to US$23.2 million as revenue more than doubled to US$51.7 million from US$20.2 million previously. The dry bulk shipping company also saw a 96 per cent rise in the daily Time Charter Equivalent rate of its vessels to US$49,894. |
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29-Jul-2008 22:19 | Sakari / Straits Asia Go to Message | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Published July 29, 2008 Straits Asia H1 output hits 4.5m tonnes STRAITS Asia Resources Ltd, a supplier of coal to Japan, Taiwan and South Korea, produced 4.46 million metric tonnes of the fuel from its two mines in Indonesia in the first six months, about half of its full-year target. First-half production at the Sebuku mine reached 1.96 million tonnes and Jembayan, 2.50 million tonnes, Straits Resources Ltd said in a filing to the Australian stock exchange. Straits Asia is 47.1 per cent owned by Straits Resources Ltd, a copper and gold mining company listed in Australia. Coal producers in Indonesia, the world's biggest exporter of the fuel, are seeking to boost output to benefit from rising prices. Thermal-coal at Australia's Newcastle port, a regional benchmark, climbed to a record US$194.79 a tonne in the week ended July 4 on higher demand from Asian power producers and supply disruptions in Australia and South Africa. 'Target production from Straits Asia is still expected to be nine million tonnes for calendar year 2008,' Straits Resources said in the filing yesterday. Output at Sebuku rose 35 per cent in the first half from a year earlier, while production at Jembayan increased 8.7 per cent in the second quarter from the previous three months, the Perth-based mining company said. Production at Sebuku 'is expected to improve further in the third quarter with the arrival of the seasonal drier climate', Straits Resources said. Jembayan's sales fell 8.6 per cent in the second quarter from the previous three months because of vessel delays, Straits Resources said. Straits Asia closed at S$2.52 yesterday in Singapore trading. -- Bloomberg |
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24-Jul-2008 23:30 | SP Chem / SP Chemical Ltd Go to Message | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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2Q FY2008 Rev +126% Profit +70% http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_869062CB7C952CDD4825748F00379AD3/$file/SPChem2QFY2008PR.pdf?openelement |
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24-Jul-2008 23:18 | Sing Food / Sing Food : Value emerging at current price Go to Message | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Singapore Food Industries (SFI) saw its net profit rise 29 per cent to $5.4 million (US$4.0 million) in its second quarter ended June 30, 2008 from a year ago as its Singapore and UK operations performed strongly. http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_3D29D397B70A5207482574900032F16C/$file/SFI_1H2008_Results.pdf?openelement |
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24-Jul-2008 23:12 | Multi-Chem / Multichem Go to Message | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Manufacturing firm Multi-Chem on Thursday reported a loss of $1.45 million (US$1.07 million) for its second quarter to June 30, reversing a $1.36 million profit in the same period last year. http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_AC97C8F3AD6155B94825749000303F18/$file/2Q2008.pdf?openelement |
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24-Jul-2008 23:09 | Evergro / Evergrowth Go to Message | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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SINGAPORE - Keppel Corp unit Evergro Properties said on Thursday that its net profit for the second quarter fell 89.1 per cent to Singapore $0.2 million (US$0.15 million)- from $1.9 million a year ago - on the absence of divestment gains. Turnover in Q208 grew 83.5 per cent to $18.6 million, from $10.1 million in the same three months in 2007. Turnover comprised mainly the progressive revenue recognition from the company's property development project in Changzhou Fushi. Earnings per share fell to 0.04 cents, from 0.38 cents in 2Q07. http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_A54C6406E05F4D7148257490002B694F/$file/Evergro-Results300608.pdf?openelement |
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17-Jul-2008 23:49 | SingTel / Singtel Bullish??? Go to Message | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Market Cap increase of US$8bn, at rank 11th now in telco industry. From Mar'07 US$34.4bn to Jul'08 US$42.8bn. page10 http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_0F54A6F7EEB1BECD482574880026E347/$file/SIASdialoguewithSingTel2008.pdf?openelement | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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16-Jul-2008 01:24 | SingTel / Singtel Bullish??? Go to Message | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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By Ritesh Menon - OCBC Tue, 15 Jul 2008, 08:42:40 SGT TA - SingTel - Testing support - SingTel has been on a decline since Oct 07 and is currently testing the support at the long-term uptrend line that connects the higher lows between Mar 07 and Jan 08. - The price consolidation at the uptrend line could result in a mild rebound. Given the positive divergence displayed by the RSI and the oversold position of the stochastic indicator, we can expect a near-term rebound to the resistance level of S$3.60 – 3.68. - However given the weak volume on days where bullish candlestick formations occurred over the previous trading week, and the downwards trending 50-, 100- and 200-day moving averages, we feel the upside is capped at this stage. - After the mild rebound, we expect SingTel to re-test the support at the uptrend line. If this support fails to hold, we could witness the price slide towards the support at S$3.16. |
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16-Jul-2008 01:18 | Others / PALM OIL STOCKS Go to Message | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Global outlook still positive. According to the USDA’s projections, global palm oil consumption for 2008/2009 would grow 6%, to reach 42.7m tonnes. On the back of tight soybean supply (USDA projects a drop in soybean production from June’s forecasts – from 3.1b to 3b bushels and projects declining yields – from 42.1 bushels an acre in June to 41.6 bushels) and persistently high crude oil prices (currently around US$145/bbl), CPO prices is likely to remain at favourable levels (currently around RM3,500/tonne). DMG 15/Jul/08 |
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16-Jul-2008 01:09 | Others / PALM OIL STOCKS Go to Message | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Indonesia Plans to Revise Tax Rates on Palm Oil Exports By Yoga Rusmana and Naila Firdausi July 15 (Bloomberg) -- Indonesia, the world's biggest palm oil producer, will revise the tax rates on palm oil exports to reduce fluctuations in shipments, its trade minister said. Indonesia has linked palm oil export taxes to prices since February to benefit from global demand for the commodity. A tax of 15 percent is imposed on crude palm oil exports if prices in Rotterdam rise to $1,100 a metric ton, 20 percent if prices reach $1,200 a ton and 25 percent if prices exceed $1,300 a ton. Palm Oil Little Changed on Speculation China May Raise Imports By Feiwen Rong July 15 (Bloomberg) -- Palm oil in Malaysia was little changed on speculation China, the world's largest buyer of vegetable oils, may increase imports to replenish stockpiles and keep its domestic market supplied. China's palm oil imports dropped to 300,000 metric tons in June, from 498,478 tons in May and 367,472 tons a year earlier, the country's customs office said today. Stockpiles in Malaysia, the world's second largest producer, rose to record 2.04 million tons last month Last Updated: July 15 2008 6:05:00 PM
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16-Jul-2008 00:46 | OCBC Bank / OCBC Go to Message | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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OCBC, Singapore's third largest bank, gave more details, saying it had an indirect exposure to the two US companies through its investment in complex debt derivatives. 'The bank has a total investment of US$249 million in corporate CDOs, which comprise diversified portfolios of corporate credits in the US, Europe, Asia and elsewhere. Of this amount, US$49 million of the CDOs contain 3 per cent exposure to Fannie Mae and Freddie Mac,' OCBC said in a statement. OCBC said its insurance subsidiary, Great Eastern Holdings, has a total exposure of $37 million (US$27.5 million) to Fannie Mae via investments in debt securities and credit-linked notes. -- REUTERS 15/Jul/08 |
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15-Jul-2008 00:07 | Others / DOW Go to Message | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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WASHINGTON, July 14 (Reuters) - President George W. Bush planned to lift a ban on oil exploration in the Outer Continental Shelf on Monday as part of an effort to ease record high oil prices, the White House said. White House spokeswoman Dana Perino said Bush was acting because the Democratic-led Congress had failed to do so since he urged lawmakers last month to lift restrictions on offshore drilling, a move strongly opposed by environmentalists. Bush was due to announce his decision and make a statement on energy needs at 1:30 p.m. EDT (1730 GMT). High gasoline prices increasingly have irked American consumers in a presidential election year, when Bush's Republicans are trying to keep control of the White House. "In his statement, the president will announce that he has decided to lift the executive ban on oil exploration in America's Outer Continental Shelf," Perino said. "He'll again call on Congress to lift its legislative ban. "It has been nearly a month since the president urged the Congress to act to expand environmentally friendly and responsible exploration for American energy. Congress has not moved forward, despite calls from constituents and the continued pressure of record high energy prices," she said. Perino said Bush originally had wanted to work in concert with Congress. "I think the way we described it was to turn both keys at the same time," she said. "The Democratic leaders in Congress have not shown a willingness to move forward ... So we are going to move forward and, hopefully, that will spur action by the Congress. The ball is squarely in their court now," she added. |
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14-Jul-2008 23:49 | Yongnam / Yong nam Go to Message | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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New low (52wk Range) for Yongnam.. #_# $0.15 .. bottom yet? Any TA view? | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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14-Jul-2008 23:17 | Others / PALM OIL STOCKS Go to Message | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Palm Oil Declines as Crude Oil Retreats, Malaysian Exports Fall By Feiwen Rong and Yoga Rusmana July 14 (Bloomberg) -- Palm oil in Malaysia fell as crude oil retreated from a record, damping the demand outlook for biofuels, and as stockpiles of the tropical oil in the country, the world's second largest producer, rose to a record in June. Palm and other vegetable oils often follow crude oil prices as they can be used in alternative fuels. Oil fell for a first day in four to $143.79 a barrel at 6:13 p.m. in Singapore, from a record $147.27 on July 11. Malaysia's palm oil inventories gained 6.4 percent to 2.04 million tons last month. ``It's a combination of weaker exports and lower crude oil prices,'' Michael Lee, trader at Marpro Oils & Grains Bhd., said by telephone from Kuala Lumpur today. Palm oil for September delivery on the Malaysia Derivatives Exchange fell 1.4 percent to close at 3,524 ringgit ($1,091) a metric ton. Prices declined 1.5 percent last week...... Last Updated: July 14 2008 6:05:00 PM
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14-Jul-2008 22:57 | Sakari / Straits Asia Go to Message | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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ANALYSIS-Asia coal traders a scarce commodity as prices surge Mon Jul 14, 2008 PERTH, July 14 (Reuters) - Coal may be the world's most abundant form of carbon energy, but those who can turn a profit trading it are in increasingly short supply as trading houses and investment banks jostle for a share of the expanding market... For the first time in recent memory, say industry sources, coal traders have become hot commodities in themselves, rivalling keenly-sought oil or metals dealers in a scramble for experienced personnel able to manoeuver in a volatile, opaque and often illiquid market that is finally opening.... Thanks also to the freeing up of European power and gas markets and the advent of the carbon market, banks ranging from Morgan Stanley (MS.N: Quote, Profile, Research, Stock Buzz) and Goldman Sachs (GS.N: Quote, Profile, Research, Stock Buzz) to Merrill Lynch (MER.N: Quote, Profile, Research, Stock Buzz) have begun to trade physical and paper coal... And trading firms that previously focused on oil or metals, including Sempra Energy (SRE.N: Quote, Profile, Research, Stock Buzz) and Swiss-based Vitol, have recently set up coal desks in Asia, which accounts for 60 percent of world seaborne steam coal trade, and which many expect will provide the bulk of future demand growth... POACHING In Singapore, a regional hub for commodities trading, Barclays Capital BAR.L has recently hired Chris Pardey, formerly a director of commodities trading at Merrill Lynch, to head its coal and agricultural business, industry sources said.... http://www.reuters.com/article/companyNews/idUKSYD32756720080714?symbol=GS.N&pageNumber=1&virtualBrandChannel=10171 |
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13-Jul-2008 02:08 | AusGroup / Ausgroup Go to Message | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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AusGroup Ltd July 11 close: S$0.64 OCBC INVESTMENT RESEARCH, July 11 AusGroup announced that it has won a new A$42.8 million (S$55.9 million) contract from Apache Energy Ltd. This takes its order book to A$223 million, a historic high for the company.... AusGroup is currently trading at a FY 2009 PE of 6.5. We maintain our 'buy' rating and S$1.33 fair value estimate. BUY |
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13-Jul-2008 01:43 | Sakari / Straits Asia Go to Message | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Bloomberg Asia Pacific Coal Index 10/Jul/08 @ 1029.07 +0.857% 9/Jul/08 @ 1020.33 The Bloomberg Asia Pacific Coal Index is a capitalization-weighted index of the leading coal stocks in the Asian Pacific Region. http://www.bloomberg.com/apps/cbuilder?ticker1=BPRCOAL:IND |
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