Latest Posts By ruanlai
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| 25-Mar-2011 15:49 |
RafflesEdu
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Raffles Edu
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Kim Eng Research says market is grossly undervaluing RAFFLES EDUCATION Analyst: Eric Ong Oriental University City: Its campus covers 3.31million sq m with a built up space of 1.04 million sq metres, and houses 14 colleges with a student population of over 35,000. Source: OUC website
Our scenario analysis suggests that if Oriental University City (OUC) is successfully listed, then the market would be grossly understating the value of Raffles Education’s (REC) education business. Maintain BUY with a target price of $0.40, which implies 54% upside. Our View We reckon there is a good chance REC may float OUC on the Hong Kong Stock Exchange ahead of its targeted timeline of August 2013 Assuming that the initial public offering goes through, OUC could command a P/B of 1.5-1.7x (about S$700-800m), depending on market conditions. At the current price of $0.26, this means investors would be getting REC’s core education business for a steal. Separately, management is close to identifying a co-developer for the OUC land, which will therefore allow REC to monetise part of its RMB2b investment. A new master planning document has also been submitted to the relevant authorities to convert more land (in addition to the 280,000 sq m) for mixed residential/commercial use. However, based on the company’s experience, the approval process could take up to 1.5 years. |
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| 25-Mar-2011 15:46 |
Midas
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Midas
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The fallout of S-Chips -What's next? Yet another S-chip in trouble. Yesterday, China Gaoxian requested for a suspension in trading of its stocks after its auditors informed the company that it could not verify the bank balances in two of the company's subsidiaries. Forget about fundamentals (and valuations) like cash balances, dividend payment for S-Chips. As past events have demonstrated, these are no longer important because investors are no longer sure if the auditing process can completely flag out accounting irregularities. In fact, S-chips with strong net cash positions now appear suspicious to some investors. We list in the table below the top 10 S-Chips with the highest net cash as a % of market capitalisation. Investors will definitely be less willing to put money in for S-Chips that we already know. But the question now is: what now? Potential themes that could play out in the market. (i) Switching to Singapore small caps will be evident, especially those with turnaround stories. It makes more sense to use yield and cash position to analyse these companies as compared to S-Chips. True enough, small cap/ penny stocks (local or Indonesian names) are making the top-20 list for gainers and most active trades today. (ii) S-Chips with HK dual-listing could potentially exit Singapore but remain listed in HK. These companies include Sound Global, China Animal Healthcare, Midas, China XLX Fertiliser. (iii) Potential S-Chips de-listing candidates, which are harder to spot, but a closer look at shareholders? list can throw you some clues. |
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| 25-Mar-2011 15:34 |
Others
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wHICH s-cHIPS yOU sTILL hOLDING
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The fallout of S-Chips -What's next? Yet another S-chip in trouble. Yesterday, China Gaoxian requested for a suspension in trading of its stocks after its auditors informed the company that it could not verify the bank balances in two of the company's subsidiaries. Forget about fundamentals (and valuations) like cash balances, dividend payment for S-Chips. As past events have demonstrated, these are no longer important because investors are no longer sure if the auditing process can completely flag out accounting irregularities. In fact, S-chips with strong net cash positions now appear suspicious to some investors. We list in the table below the top 10 S-Chips with the highest net cash as a % of market capitalisation. Investors will definitely be less willing to put money in for S-Chips that we already know. But the question now is: what now? Potential themes that could play out in the market. (i) Switching to Singapore small caps will be evident, especially those with turnaround stories. It makes more sense to use yield and cash position to analyse these companies as compared to S-Chips. True enough, small cap/ penny stocks (local or Indonesian names) are making the top-20 list for gainers and most active trades today. (ii) S-Chips with HK dual-listing could potentially exit Singapore but remain listed in HK. These companies include Sound Global, China Animal Healthcare, Midas, China XLX Fertiliser. (iii) Potential S-Chips de-listing candidates, which are harder to spot, but a closer look at shareholders? list can throw you some clues. |
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| 23-Mar-2011 15:34 |
Genting Sing
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$2 SHOW TIME
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Hitting...........$2....... Hitting...........$2....... Hitting...........$2....... Hitting...........$2....... | ||
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| 23-Mar-2011 11:54 |
Genting Sing
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$2 SHOW TIME
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Hitting...........$2....... one more step....... | ||
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| 23-Mar-2011 11:52 |
Genting Sing
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$2 SHOW TIME
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just vested 1.98 for xxx lots...... tgt 2.46.... tian gong bao you ha ha | ||
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| 23-Mar-2011 11:19 |
Genting Sing
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$2 SHOW TIME
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Please go ahead
Bu yao ke qi
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| 23-Mar-2011 10:47 |
Genting Sing
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$2 SHOW TIME
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Full force are on the way..... Cheong har......ar.....ar..... | ||
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| 23-Mar-2011 10:29 |
Genting Sing
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$2 SHOW TIME
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S$1.98 now | ||
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| 23-Mar-2011 10:26 |
CapitaLand
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Capitaland
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Fade Q to trap you .....on both size...... Beware.... | ||
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| 23-Mar-2011 10:24 |
CapitaLand
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Capitaland
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A lot of force selling on the way.... waiting to get cheaper price today..... Do not be their scape goat...... BEWARE !!! Buy at your own risk.... | ||
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| 23-Mar-2011 10:08 |
Genting Sing
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$2 SHOW TIME
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Heard fund managers are interested in this counter again....... If they are in.....above $2 not a problem.......tgt $2.46 as per their projection. | ||
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| 23-Mar-2011 09:48 |
Genting Sing
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$2 SHOW TIME
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THREE more CENTS..... 3cents........ Cheong har........1.97, 1.98, 1.99,........ $2.00 | ||
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| 23-Mar-2011 09:30 |
Genting Sing
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$2 SHOW TIME
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WOW !!!!! Five cents more....... To break $2........ | ||
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| 23-Mar-2011 09:03 |
Genting Sing
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$2 SHOW TIME
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SHOW TIME.... | ||
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| 23-Mar-2011 09:01 |
Midas
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Midas
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reverse sign start from here heading back to 65cents soon. Watch out.....take profit first |
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| 22-Mar-2011 15:29 |
Genting Sing
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$2 SHOW TIME
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Wow......Break up liao $1.92 break........ It's show time........towards $2.00 mark.... | ||
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| 22-Mar-2011 15:11 |
CapitaMalls Asia
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First Day trading open at $2.30
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Large capitalization ??? also will drop Look at OSIM......from how much drop till 0.05 chey.....what nut.....peanut...........f....nut..... |
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| 22-Mar-2011 14:34 |
Genting Sing
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Traders Lounge - Daily opportunities for everyone
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92cents going to break up soon....... Look out..... |
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| 22-Mar-2011 14:18 |
Midas
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Midas
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72.5cents...........very strong resistance...... Once fail to breaks, will go back to 66cents.......from TA.....Beware........sell into strength........ Take profit first and see how..... Once break 73cents worth to enter again..... |
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