Latest Posts By ozone2002
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| 11-Dec-2008 14:46 |
COSCO SHP SG
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CoscoCorp
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COSCO power up when shippers are pulling back orders for shipbuilding.. what gives? |
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| 10-Dec-2008 11:51 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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then get ready for the biggest bull of all time! :)
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| 10-Dec-2008 11:33 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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everyday we see new reports on companies axing staff.. i wonder how the economy can sustain w/o consumer spending? or the axed staff are turning into day traders to prop up the market..haha | ||||
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| 10-Dec-2008 10:19 |
COSCO SHP SG
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CoscoCorp
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cosco from .7 to $1 in a couple of weeks.. what happened to all the scare talk abt shipbuilders goin down? | ||||
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| 09-Dec-2008 15:28 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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are we lookin at a dble top formation here? the recent runs have been fast n furious..not to my liking.. |
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| 05-Dec-2008 11:49 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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but like i said b4..any rise in the markets will be a good opportunity to sell into strength.. cos the outlook is down.. |
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| 05-Dec-2008 11:47 |
RafflesEdu
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Raffles Edu
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the buying is crazy...also good..makes it easier to dump..keke | ||||
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| 05-Dec-2008 10:15 |
RafflesEdu
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Raffles Edu
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surge to 55c..it better come true .. | ||||
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| 05-Dec-2008 09:11 |
Keppel
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keppel Corp
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i no money for holiday lei...keke.. but hoping Kep corp can give me an Alaskan holiday..:) |
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| 05-Dec-2008 09:09 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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ecb cuts rates..should b +ve to markets | ||||
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| 04-Dec-2008 10:39 |
Keppel
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keppel Corp
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yeah tempted to..with such low vol n short price range today | ||||
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| 03-Dec-2008 19:14 |
Keppel
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keppel Corp
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close 3.77.. very in the money :) capitalized on the rise this morning to add to my positions yesterday.. looking at abt 15c profit.. |
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| 03-Dec-2008 19:11 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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from +20 to flat...reiterates what i said this morning.. :)
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| 03-Dec-2008 15:11 |
Keppel
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keppel Corp
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3.79 now man..tempted to take profit close to 10c..minus all the charges.. can have good gourmet coffee man.. keke |
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| 03-Dec-2008 11:16 |
Keppel
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keppel Corp
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u treat rite :) | ||||
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| 03-Dec-2008 11:07 |
RafflesEdu
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Raffles Edu
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%0Singapore: Banks back KKR`s Raffles Education bid (2008/12/01 10:39AM) -------------------------------------------------------------------------------- %0Hong Kong (RLPC) December 1, 2008 - basis point- A group of at least five banks has been heard backing a sole bid from Kohlberg Kravis Roberts & Co to take Singapore Exchange-listed Raffles Education Corp Ltd private through a leveraged buyout. No%0other sponsors have been heard preparing bids for the asset, a pan-Asian private education provider. The Raffles Education buyout has been talked about in the loan markets for several months, but it was thought to have gone away in the wake of the%0collapse of Lehman Brothers in mid-September. However, rumours surrounding the deal intensified in recent weeks, with KKR emerging as the sponsor and a number of banks now linked to a potential buyout. Various banking sources suggest the following%0banks are close to the KKR bid: Credit Suisse, Mizuho Corporate Bank, UniCredit, UOB and UBS, with UBS taking an advisory role as Raffles'' house bank. Bankers looking at the target said they considered Raffles a solid asset, despite a share price%0which was down 70% over 12 months at S$0.44 a share on November 28. On the same date, Raffles Education had a market capitalisation of S$1.01bn. One banker looking at the asset estimated the enterprise value at around S$1.1bn (around US$733m), which%0with an offer premium would take the purchase price to around US$1bn. Assuming a debt component of around 55-60% in the current market, recent events surrounding acquisition and leveraged deals suggest more than five banks would be needed to provide%0the debt. Recent attempts at leveraged and acquisition transactions have been hampered by the limited number of banks able to commit funds, the lack of liquidity within those banks that can commit and the extended timetables needed to get approvals%0from credit committees. With share prices tumbling and limited debt backing for sponsor bids, a gulf has emerged between vendors'' expectations on price and buyers'' offers for assets. The result has been a slew of cancelled deals. Just last week,%0Temasek Holdings Pte Ltd cancelled the auction of the last of its three generating company assets, PowerSeraya Ltd, after a protracted bidding process that first saw limited commitments for a staple financing from a team of banks. DBS then offered a%0sole staple for the deal, but timetables were extended to allow more time for banks to sign up for bids, then revised bids were requested from a shortlist of just three bidders. Finally, Temasek cancelled the process. Not only were bids believed to be%0below Temasek''s expectations, but debt pricing had pushed up to four or five times the price paid for the first genco to be sold, Tuas Power Ltd. The top-level all-in on the bridging loan backing the Tuas takeout was around 80bp. In addition, lending%0banks were becoming increasingly wary of a refinancing timetable for 2009 that would have seen the three Singapore gencos - Tuas, Senoko Power Ltd and PowerSeraya - in the market at around the same time for funds. Prior to that, in early October in%0Hong Kong and China the holding company deals for PCCW Ltd and Huawei Technologies Co Ltd were cancelled after sponsor bids came in substantially under vendors'' expectations. While the few banks able to provide funding had continued to talk to sponsor%0 about both deals, few if any are thought to have provided commitments. The PCCW asset had originally been expected to fetch up to US$2.5bn and was backed by a staple financing of around US$900m from UBS. However, shortly before PCCW cancelled the%0auction, the loan portion on bids was rumoured to have fallen as low as US$300m. Describing the bidding process for the PCCW deal at that time, one banker, whose bank did not provide a committed bid said: "We never said no to an awful lot of people."%0 Raffles Education operates three universities and 22 colleges with a total student population of 30,000 across nine countries: Australia, China, India, Malaysia, Mongolia, New Zealand, Singapore, Thailand and Vietnam. In addition to these%0institutions, the company also owns Oriental University Ciy in Langfang in China''s Hebei province. Oriental University City is a 3.31m square metre campus containing 19 colleges and 57,000 students. Stephen Aldred Phone: (852) 2912 6609 Copyright%0[c]2008 by Reuters Loan Pricing Corporation. Any reproduction or retransmission of this story - via fax, photocopy or electronically - is a violation of Federal and International Copyright Laws. Contact Reuters LPC at (1) 646-223-6890 (New York) or%0(44) 207-542-8405 (London) or (852) 2912-6600 (Hong Kong) or (81) 3-6441-1623 (Tokyo) or (971) 0-4-3625805 (Dubai) for information on additional LoanConnector tokens |
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| 03-Dec-2008 11:05 |
RafflesEdu
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Raffles Edu
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this baby picking up on the rumor.. | ||||
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| 03-Dec-2008 10:58 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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After reading this..my opinion is that more pain will come.. be ready to capitalize with ur put warrants.. , December 01, 2008 Hedge Funds Impose Emergency Measures To Block Withdrawal Requests Battered by a sinking global economy Hedge funds hit by fresh wave of withdrawals. Hedge funds have been hit by a fresh wave of withdrawals as investors search for cash, prompting more funds to impose emergency measures to block repayments. London Diversified Fund Management, one of Britain's best-known fixed- income managers, on Friday suspended both its hedge funds as trading conditions in the derivatives markets created valuation difficulties ahead of redemptions. LDFM, founded by former JPMorgan bankers David Gorton and Rob Standing, manages close to $3bn (£1.9bn), down from a peak of $8bn after its main fund fell 23 per cent this year and investors pulled out. LDFM is joining a roster of hundreds of hedge funds in restricting withdrawals, with investors and prime brokers estimating as many as a fifth have suspended or limited what investors can get back as they have their worst year on record. This week CQS, a London convertible bond specialist run by former Credit Suisse banker Michael Hintze, began canvassing investors on whether it should change the terms of its main fund to allow it to restrict withdrawals if markets worsen next year. Huw van Steenis, analyst at Morgan Stanley, said industry assets could shrink 35-45 per cent from June's $1,930bn by the first quarter of next year, as heavy redemptions added to the pain of poor performance. Two Bank of New York Mellon funds of hedge funds told investors this week they planned to restructure because almost a third of the funds in which they invest had limited redemptions. The Sanctuary I and II funds will split into continuing and wind-down classes, with pay-outs of about a third of the wind-down class expected early next year. On Friday, London's $4.3bn Atlas Capital, owned by New York-based Sciens Capital Management, suspended withdrawals from a dozen funds of hedge funds, while Crédit Agricole and Grenfell PAI each suspended a fund of funds as underlying hedge funds restricted withdrawals. "We have seen really accelerating redemptions around the 30 per cent level," said Derek Stewart, a director of Mellon Global Alternative Investments, which manages the Sanctuary I and II funds. "The reason for doing this [restructuring] is purely to protect the interest of investors." Tudor Investment Corp. Suspends Redemptions Bloomberg is reporting Tudor's BVI Halts Withdrawals, Plans Hedge-Fund Split. Tudor Investment Corp., the firm run by Paul Tudor Jones, temporarily suspended redemptions from the $10 billion BVI Global Fund Ltd. as it plans to split the hedge fund into two, according to a person familiar with the matter. Tudor is proposing to put hard-to-sell investments, mostly corporate bonds and loans from emerging markets, into a new fund called Legacy, said the person, who asked not to be identified because the information is private. BVI Global, which started in 1986, would focus on easier-to-trade stocks, bonds, commodities and currencies. More than 80 firms have liquidated funds, restricted redemptions or segregated assets following stock-market declines and a credit freeze that started with rising defaults on U.S. subprime mortgages. Tudor, which oversees $17 billion, is asking BVI Global investors to approve the plan to split the fund in the next two months. Clients would have their money allocated between BVI Global and Legacy based on the division of assets, said the person. Tudor wouldn't be able to charge investors a performance fee until the Legacy assets exceeded their high watermark, or peak value. The firm would sell off the assets in Legacy next year and return money to clients. Hedge funds have posted losses averaging 22 percent this year through Nov. 24, according to Chicago-based Hedge Fund Research's HFRX Global Hedge Fund Index. Investors such as pension funds and university endowments are pulling their holdings from hedge funds after they "over-committed" to private equity investments, van Steenis said. Mistake To Block Withdrawals Suspending withdrawal requests is a mistake. Investors remember that Bear Stearns blocked redemption requests on two of its hedge funds and both went to zero. By blocking withdrawals, hedge funds are creating a pent-up desire to get out. Furthermore, by suspending withdrawals, investors are going to have a heightened sense of mistrust of investing in hedge funds even after the market does bottom. Looking ahead, someone who wanted out but could not get out is unlikely to ever invest in hedge funds again. The hedge fund industry is going to collapse in the wake of mismanagement, excessive use of leverage, blocking withdrawals, excessive fees, and a heightened sense of mistrust everywhere. Hedge funds were supposed to make money in any environment, either up or down, collectively they clearly failed. Bearish Structural Connotations My friend "BC" pinged me with these thoughts earlier today. A bearish structural factor bearing down on the US economy and equity market will be tens of millions of Boomers (retiring and being "retired" involuntarily) being involuntarily fired from employment at peak earnings, many of whom will never again earn anywhere near their peak earnings (and medical and life insurance benefits). Boomers by the millions will be forced to draw down on assets (declining in value) at a much faster rate than they or most economists imagined in an attempt to maintain the Boomer consumer lifestyle. Hedge fund withdrawals are occurring as many financial services types (hedgies, mutual fund mismanagers, bankers, etc.) are seeing their livelihoods and a large share of their net wealth evaporate at an alarming amount and rate. Private schools, private clubs, religious institutions, charities and not-for-profit entities, etc., are now being negatively affected by the meltdown in financial assets, including leveraged real estate. The deleveraging/liquidation process is still underway for hedge funds and barely just beginning in the overall US and global financial systems. The rally from SPX 741 to 896 was the obligatory bear market rally of ~20% (~$1.7T addition to market cap), so a correction of at least half that |
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| 03-Dec-2008 10:54 |
Keppel
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keppel Corp
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i shorted more @ $3.9.. :) | ||||
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| 03-Dec-2008 09:12 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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ignore STI rise today.. capitalize of the rise to take profit from yesterday's drop.. or add to shorts...cos the trend is down.. |
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