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| 07-Jun-2008 21:25 |
Unisteel
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Unisteel
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Acquisition Details Unisteel and LHL have today entered into an agreement to implement a scheme of arrangement (“Scheme”) under the Companies Act , Chapter 50 of Singapore and in accordance with the Singapore Code on Take-overs and Mergers. Under the Scheme, all issued ordinary shares in Unisteel (“Unisteel Shares”) held by the shareholders of Unisteel (“Unisteel Shareholders”) as at a books closure date to be announced will be transferred to LHL. Each Unisteel Share will be acquired by LHL for a cash consideration of S$1.95 per share, which values the whole of Unisteel at approximately S$785 million1. Once the Scheme becomes effective, the Unisteel Shares will be transferred to LHL together with all rights including the right to receive and retain all dividends announced, declared, made or paid by the Company on or after the date of the Announcement. http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_F91919F3AB39FF3048257461003CA000/$file/PressRelease_7Jun08.pdf?openelement |
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| 07-Jun-2008 21:23 |
Unisteel
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Unisteel
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Acquisition Details Unisteel and LHL have today entered into an agreement to implement a scheme of arrangement (" Under the Scheme, all issued ordinary shares in Unisteel ("
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| 07-Jun-2008 21:16 |
HsuFuChi
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Snack food maker
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6/6/08 DBS : Price Target : 12-Month S$ 1.49 (Prev S$ 1.45) Relevance company remain very firm, thanks to its strong management team, stable of brand names, distribution/sales channel and strong balance sheet. Regional and global peers are trading at an average forward PER of over 20x, versus HFC’s 12x. Although peers are larger in size and scale, the disparity of c. 40% is unjustified, in our view. This should narrow as management continues to grow its topline and deliver sustainable profit growth. HFC is trading at 5.6x EV/EBITDA, 1.9x P/B and 1.1x P/S (on FY09F). It also has a reasonable net dividend yield of 2.9% and 3.4% in FYE Jun 08F and 09F based on our payout ratio assumption of 40%. It has a net cash of RMB550m (RMB0.69 or S$0.14 per share). Maintain BUY, TP: S$1.49 premised on 16x FY09F earnings (previously 18x on blended FY08/09 EPS), at its historical average PER and a 25% discount to
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| 07-Jun-2008 21:01 |
SingTel
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Singtel Bullish???
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Hi shplayer, Thks for yr correction. Div 6.9cents : XD shd be 6/Aug/08, Book close 8/Aug/08, Payable on 28/Aug/08 Interim Div 5.6cents : Paid on 10/Jan/08 |
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| 07-Jun-2008 20:59 |
SingTel
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Singtel Bullish???
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Hi shplayer, Thks for yr correction. Div 6.9cents : XD shd be 6/Aug/08, Book close 8/Aug/08, Payable on 28/Aug/08 Interim Div 5.9cents : Paid on 10/Jan/08 |
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| 07-Jun-2008 14:54 |
SGX
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SGX
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Singapore Exchange June 6 close: S$8.00 UBS Investment Research, June 6 A KEY play on ageing Asia: The United Nations has identified the top three socio-economic issues facing the world in the 21st century. They are global warming, global terrorism and global ageing. We note that Asia has four of the 10 fastest ageing countries globally. In our Q-Series®: Asia Structural Themes: Ageing Asia report published on June 6, Singapore Exchange (SGX) is highlighted as one of 17 key exposures to Asia's changing demographics. SGX - one of 17 UBS Asian demographics key picks: Changes in Asia demographics will impact countries' long-term economic growth, governments' willingness to privatise assets and the demand for listed instruments. While growth of stock exchanges is typically tied to domestic markets, SGX's structural growth comes from Singapore emerging as the exchange of choice for many Asian and transnational companies' initial public offerings. We remain upbeat on SGX despite current market sentiment: We believe the current share price assumes no growth over the next four years, which we think is too bearish as the investment environment in Singapore and Asia appears promising in the medium term, given favourable economic and demographic trends. Changes in market sentiment, Qualified Domestic Institutional Investor fund inflows and an increase in algorithmic trading are potential catalysts. We reiterate our 'buy' rating and 12-month DCF-based price target of S$13.00. |
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| 06-Jun-2008 22:00 |
SIA
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A380 A Great Way to Fly
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............... Singapore Airlines (SIA) said it has been doing regular six-monthly capacity reviews, but added that the high fuel cost environment had made the exercise even more critical. 'Singapore Airlines is not immune to the threat posed by high jet fuel prices,' said spokesman Stephen Forshaw. 'It highlights the need to continue our focus on cost discipline, and being nimble in managing capacity. Going forward, we will manage capacity deployment carefully, but also seek to ensure we can meet areas of demand which are still present in our markets.' The airline recently pulled out of its lossmaking Taipei-Los Angeles and Bangkok-Osaka routes, but added capacity to China, India, Vietnam, Australia, Zurich, Paris, London and Moscow. It also plans to replace its ageing B747-400s with more fuel-efficient A380s and B787s. But did SIA miscalculate in introducing its all-business class non- stop services to New York and Los Angeles at a time when the inevitable spike in ticket prices could further impact travel demand? 'The loads in the first couple of weeks on the all-business class A340-500 services to New York and back have been very impressive,' Mr Forshaw said. 'Most flights have had loads close to full since they started operating.' But he added that SIA was not taking the softening economy in the US lightly, and was monitoring the situation carefully. A record 24 airlines have collapsed worldwide in the last six months, including European all-business class carriers Silverjet and EOS and Hong Kong-based Oasis. |
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| 06-Jun-2008 21:43 |
SingTel
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Singtel Bullish???
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Ex Date: 8/Aug/08 Book Close: 11/Aug/08 Payable: 28/Aug/08 DIVIDENDS: 12.5 cents The directors have proposed a final one-tier exempt ordinary dividend of 6.9 cents per share (FY 06/07: 6.5 cents per share) totalling approximately S$1.10 billion in respect of the financial year ended 31 March 2008. Together with the interim dividend of 5.6 cents per share amounting to S$891 million paid in the current quarter, the total amount of dividends in respect of the financial year ended 31 March 2008 would be S$1.99 billion. |
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| 05-Jun-2008 10:02 |
SingTel
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Singtel Bullish???
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Singapore Telecom considers investing in China Telecom - report
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| 04-Jun-2008 23:30 |
Luzhou Bio-Chem
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Is Luzhou on an uptrend based on TA?
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UPDATE ON SICHUAN PLANT The Board of Directors of Luzhou Bio-chem Technology Limited (“the Company”, and together with its subsidiaries, “the Group”) refers to the announcement made by the Group on 13 May 2008. The Directors wish to update shareholders that its production plant located in Sichuan Province (“Sichuan Plant”) has resumed operations on Monday, 2 June 2008. The Sichuan Plant’s utilities services are unaffected, while key transportation networks have been restored, facilitating the transport of raw materials and finished products to and from the plant. The Group will commence delivery of its products such as corn sweeteners and corn starch to customers from today, 4 June 2008. The Group is still evaluating the full impact of the Sichuan earthquake on its operations, and will provide further updates in its interim results announcement. Submitted by Niu Ji Xing, Managing Director on 4 June 2008 to the SGX. |
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| 04-Jun-2008 06:48 |
Centillion^
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E-waste recyling the Next Big Thing or already is?
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FS -31/Mar/08 loss -$0.8mln http://www.reuters.com/finance/stocks/incomeStatement?symbol=CNER.SI |
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| 04-Jun-2008 06:38 |
Olam Intl
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Ramping up its capex
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ABIDJAN, June 3 (Reuters) - Singapore's Olam International Ltd (OLAM.SI: Quote, Profile, Research) has bought a major stake in Ivory Coast's cotton sector by purchasing the assets of bankrupt cotton producer La Compagnie Cotonniere Ivoirienne (LCCI). The Ivorian state sold the LCCI assets to Olam for just over 8 billion CFA francs ($19.02 million), according to an official legal notice published this week in the government daily Fraternite Matin. The West African country's cotton sector is struggling to get back on its feet after a 2002/2003 civil war in which the country's northern half, where cotton is grown, was seized by rebels. A national reunification process agreed in a March 2007 peace deal has set presidential elections for Nov. 30. The assets acquired by Olam consist of around 100,000 hectares of cotton fields, cultivated by around 50,000 growers, and four ginning plants located in the north of Ivory Coast, according to cotton sector officials. |
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| 04-Jun-2008 06:23 |
Others
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DOW
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DOW closed 12402.85 -100.97 -0.81% Nasdaq closed 2480.48 -11.05 -0.44% US stocks lost ground on Tuesday after earlier gains as renewed jitters about the banking and finance sector hit investor sentiment, traders said. Stocks fell as US media reports suggested the investment bank Lehman Brothers may seek to raise fresh capital to shore up its balance sheet. |
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| 04-Jun-2008 05:22 |
SIA
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A380 A Great Way to Fly
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'Consumers have to get used to higher airfares, just as they are getting used to higher commodity prices,' said Steve Udvar-Hazy, chairman and CEO of ILFC, the world's largest lessor of airplanes |
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| 04-Jun-2008 05:18 |
SIA
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A380 A Great Way to Fly
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ISTANBUL - The International Air Transport Association (Iata) said on Monday a significant decline in global airline profitability, or even losses, look inevitable for 2008. Iata said the combination of high fuel prices, a US recession, and accelerated deliveries of aircraft ordered at the peak of the economic cycle but delivered during a slowdown meant the outlook for 2008 was 'clouded by the perfect storm'. 'Adding to the downward pressures on revenue growth from the US recession will be the acceleration in aircraft deliveries in 2008 and 2009,' Iata said in its annual report presented at a news conference in Istanbul where it is holding its annual meeting. Iata chief executive Giovanni Bisignani forecast industry losses of US$2.3 billion in 2008 if the average price of a barrel of Brent oil remained at US$107 for the rest of the year. He also said in a prepared speech that if oil prices remained at US$135 a barrel for the rest of the year airline industry losses would be US$6.1 billion. Mr Bisignani said traffic growth in the industry would at best be 3.9 per cent this year, down from growth of 5.9 per cent in 2007. Oil prices hit an all-time high of US$135.09 a barrel on May 22. Prices have roughly doubled in the past year. The association said increased liberalisation in the industry would also intensify competition and squeeze profitability. Iata represents 240 airlines operating 94 per cent of all international passenger and cargo flights. -- REUTERS |
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| 04-Jun-2008 05:13 |
ASL Marine
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ASL Marine
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ASL Marine June 3 close: $1.28 DMG & PARTNERS SECURITIES, June 3 We are tweaking our forecast earnings. We have pegged our valuation parameter of 8.5x to FY08F/09F blended EPS (15 per cent discount to peers), given ASL's smaller market share in shipbuilding. We derive a TP of $1.83 (from $1.59 previously). Maintain 'buy'. BUY |
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| 04-Jun-2008 05:11 |
RafflesEdu
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Raffles Edu
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Raffles Education June 3 close: $1.28 DBS VICKERS, June 3 WE attended a briefing yesterday by Chew Hua Seng on the announced joint venture by Raffles Education Corporation (REC) with Educomp in India and China. Investment amount will total US$100 million in India and US$50 million in China over the next two to three years. The JVs will be focusing on tertiary education in India and K-12 education in China. We see the JV as positive as the potential of the education market for both REC and Educomp is huge given the population in India and China. We Consequently, our TP is adjusted slightly to $1.64 (previously $1.70), on DCF with a WACC of 9.2 per cent (from 8.6 per cent), terminal growth of 3 per cent. Maintain 'buy'. BUY |
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| 04-Jun-2008 05:01 |
LottVision
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Before you sell Lottvis share, please read this
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FY08 results. profit of HK$16.2m, which was a reversal from a net loss of HK$15.8m in the previous year. The net profit was due mainly to a realised gain in the amount of HK$166.9m from the disposal of 20% of PAL Development Limited to Melco LottVentures Limited. This gain is offset by goodwill impairment in Huge Hill Limited and China-Vision Intelligent Card Reader Co. Limited in the amount of HK$32.0m and HK$30.0m respectively.The goodwill impairment is due to a strategic shift from its surveillance focused business to technology-enabler of choice for the lottery and
Management Outlook.
China. It believes that the lottery industry is poised for exponential growth as the
introduction of new technologies, products, service offerings and distribution
Downgrade to HOLD recommendation, fair value reduced from S$0.38 to
S$0.13.
a fair value of S$0.13 per share for LottVision. We have reduced the fair value as we
believe there is high risk in Lottvision’s lottery business. LottVision has not derived
substantial cash flows and profits from its current investments. It has also not been
declaring dividends to shareholders. We have also cut our estimates for the growth
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| 04-Jun-2008 04:58 |
LottVision
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Before you sell Lottvis share, please read this
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LottVision Stock remains highly speculative 3 June 2008 FY08 results.
profit of HK$16.2m, which was a reversal from a net loss of HK$15.8m in the previous year. The net profit was due mainly to a realised gain in the amount of HK$166.9m from the disposal of 20% of PAL Development Limited to Melco LottVentures Limited. This gain is offset by goodwill impairment in Huge Hill Limited and China-Vision Intelligent Card Reader Co. Limited in the amount of HK$32.0m and HK$30.0m respectively.The goodwill impairment is due to a strategic shift from its surveillance focused business to technology-enabler of choice for the lottery and internet related businesses. LottVision reported FY08 turnover of HK$5.6m (-65% yoy) and net
Management Outlook.
China. It believes that the lottery industry is poised for exponential growth as the introduction of new technologies, products, service offerings and distribution platforms will escalate the development of the industry. LottVision will seek growth in the lottery-related business in
Downgrade to HOLD recommendation, fair value reduced from S$0.38 to S$0.13. a fair value of S$0.13 per share for LottVision. We have reduced the fair value as we believe there is high risk in Lottvision’s lottery business. LottVision has not derived substantial cash flows and profits from its current investments. It has also not been declaring dividends to shareholders. We have also cut our estimates for the growth
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| 03-Jun-2008 18:30 |
SingTel
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Singtel Bullish???
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Lehman Brothers Research 2/Jun/08 In this note, we present answers provided by SingTel management for key questions asked by investors during the road show: Q: What is the update with the KPPU and the court decision in Indonesia regarding SingTel and Temasek? A: SingTel does not agree with the KPPU decision and has appealed the decision to the Indonesian Supreme Court. It is unclear how long it will take for the court to make a decision—it could take from two months to two years for the Supreme Court to make a final judgment in this matter. |
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