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| 23-Apr-2010 13:38 |
YZJ Shipbldg SGD
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Cruising with the ship ..Yangzijiang
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SIAO LIAO MUST BE THE DEAL CALLED OFF From The Price Drop right from the YESTERDAY ...... DIE LIAO........ |
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| 19-Apr-2010 12:58 |
Ying Li Intl
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Ying Li
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AVOID form NOW What's New: In the latest efforts to crack down on real estate speculation amid concern about asset bubbles, China has raised the down-payment requirement on second-home mortgages to at least 50% from 40%. In addition, the government also reiterated that an extra 10% should be adopted on interest rates for these homes. The details were announced last night after a State Council meeting chaired by Premier Wen Jiabao on Wednesday. For first-time buyers of apartments larger than 90 sqm, a minimum 30% down payment must be paid. For those who are buying three or more houses, we understand that even higher requirements on both down payments and interest rates will be levied. Our View: We believe that the latest measures reflect Chinese government's lingering concern over surging property prices given its determination to squeeze out speculators from the overheated housing market. Moreover, the new policy would also help reduce banks' potential risks to bad loans in case of a market correction. At the same time, China plans to more than double its land supply for housing development this year. Under an annual land plan announced yesterday by the Ministry of Land and Resources, more than 70% of the total will be for affordable housing, renovating shanty home areas and small- and medium-sized apartments. Further, it will continue to give credit support to first-time buyers, especially buyers of small and medium apartments. According to the National Bureau of Statistics, China's urban property prices rose by 11.7% in March, which is the biggest YoY gain since July 2005. In Shanghai, average price of new homes stood at RMB19,767 (or US$2,894) psm in March while that of existing properties, mainly houses, climbed to a record RMB16,200 psm during the same period. Some industry analysts are speculating that the central government may step in with other more drastic measures such as tightened credit policies and the introduction of a property tax going forward. Action and recommendation: As China faces increasing risks over asset-price bubbles, we think the Chinese government may be adopting a more hawkish stance towards its macro and real-estate polices. Already, we have seen knee-jerk reaction in some Chinese property counters such as Yanlord, Ying Li today. Singapore developers which have big exposure to China's real-estate market such as Capitaland and Keppel Land may be affected as well. |
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| 19-Apr-2010 11:39 |
YZJ Shipbldg SGD
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HALT
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YangZiJiang - Acquisition of minority stake in PPL Shipyard - BUY ($1.43) TP $1.80 by DMG Proposed acquisition of PPL is a prelude to bigger things. YZJ and two partners have proposed to acquire PPL Holdings from Baker Technology for US$155m (S$216m). Under the structure of the deal and post-acquisition, YZJ will own an effective stake of 7.5% in PPL Shipyard, which is one of the world’s leading rig builder. In our view, the deal is positive: (1) Acquisition is fairly valued at 3x P/B vs. P/B valuation for listed rig builders of more than 4x. (2) The deal is modestly EPS dilutive due to share placement to a Middle Eastern investor, but compensated by potential earnings growth when its offshore division is fully developed. (3) The acquisition allows YZJ to tap into PPL’s expertise and helps develop YZJ’s offshore capabilities. We believe this may lead to a yard setup in China to focus on the offshore market. We maintain our earnings forecast but raise our TP to S$1.80 based on higher P/E multiple of 15x on FY10 EPS. Acquisition fully funded by share placement to Middle East investor. Key details of the acquisition: (1) YZJ, a Middle East investor and Mr. Yu Kebing (a non-executive director of YZJ) have offered to acquire PPL Holdings from Baker Technology for US$155m. Baker Technology has up to 4 May 10 to accept the offer. The crown jewel in PPL Holdings is the 15% stake in PPL Shipyard. The remaining 85% in PPL Shipyard is owned by Sembcorp Marine. (2) Postacquisition, YZJ, the Middle East investor and Mr. Yu will hold 50.1%, 49% and 4,9% stake in PPL Holdings respectively. (3) YZJ’s share of the acquisition at US$77.6m will be fully funded by a 83.5m share placement to an unnamed Middle East investor at S$1.295/share. The new placement shares will dilute YZJ’s existing share base marginally by 2.3% and is subjected to acceptance of the offer by Baker Technology. (4) PPL Shipyard has a net book value of US$343m for FY09. The acquisition price values the shipyard at 3x P/B. Valuation: target price raise from S$1.48 to S$1.80. Despite strong share price run-up of 23% since our initiation, we think there is more upside to the stock. We raise our TP from S$1.48 to S$1.80 based on higher P/E multiple of 15x on FY10 EPS compared to 12x previously. The higher P/E reflects the potential earnings from YZJ’s new pillar of growth in the offshore market. Our revised TP implies 4.1x FY10 P/B. Key catalysts for share re-rating are: (1) recovery of new orders; (2) new income from business units under development. |
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| 19-Apr-2010 11:34 |
YZJ Shipbldg SGD
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Cruising with the ship ..Yangzijiang
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YangZiJiang - Acquisition of minority stake in PPL Shipyard - BUY ($1.43) TP $1.80 by DMG Proposed acquisition of PPL is a prelude to bigger things. YZJ and two partners have proposed to acquire PPL Holdings from Baker Technology for US$155m (S$216m). Under the structure of the deal and post-acquisition, YZJ will own an effective stake of 7.5% in PPL Shipyard, which is one of the world’s leading rig builder. In our view, the deal is positive: (1) Acquisition is fairly valued at 3x P/B vs. P/B valuation for listed rig builders of more than 4x. (2) The deal is modestly EPS dilutive due to share placement to a Middle Eastern investor, but compensated by potential earnings growth when its offshore division is fully developed. (3) The acquisition allows YZJ to tap into PPL’s expertise and helps develop YZJ’s offshore capabilities. We believe this may lead to a yard setup in China to focus on the offshore market. We maintain our earnings forecast but raise our TP to S$1.80 based on higher P/E multiple of 15x on FY10 EPS. Acquisition fully funded by share placement to Middle East investor. Key details of the acquisition: (1) YZJ, a Middle East investor and Mr. Yu Kebing (a non-executive director of YZJ) have offered to acquire PPL Holdings from Baker Technology for US$155m. Baker Technology has up to 4 May 10 to accept the offer. The crown jewel in PPL Holdings is the 15% stake in PPL Shipyard. The remaining 85% in PPL Shipyard is owned by Sembcorp Marine. (2) Postacquisition, YZJ, the Middle East investor and Mr. Yu will hold 50.1%, 49% and 4,9% stake in PPL Holdings respectively. (3) YZJ’s share of the acquisition at US$77.6m will be fully funded by a 83.5m share placement to an unnamed Middle East investor at S$1.295/share. The new placement shares will dilute YZJ’s existing share base marginally by 2.3% and is subjected to acceptance of the offer by Baker Technology. (4) PPL Shipyard has a net book value of US$343m for FY09. The acquisition price values the shipyard at 3x P/B. Valuation: target price raise from S$1.48 to S$1.80. Despite strong share price run-up of 23% since our initiation, we think there is more upside to the stock. We raise our TP from S$1.48 to S$1.80 based on higher P/E multiple of 15x on FY10 EPS compared to 12x previously. The higher P/E reflects the potential earnings from YZJ’s new pillar of growth in the offshore market. Our revised TP implies 4.1x FY10 P/B. Key catalysts for share re-rating are: (1) recovery of new orders; (2) new income from business units under development. |
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| 18-Apr-2010 19:06 |
YZJ Shipbldg SGD
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Cruising with the ship ..Yangzijiang
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One thing for sure that Middle East People now are all eyes on YZJ ....... Most possibly that recent run up are from the Middle East Fun Manager........ So seat back, fastern your safety belt and hold tide..... Wave up all the way........ Congratulate for those have vested......Sure worth the money investing in this counter...... CHEERS !!! |
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| 17-Apr-2010 19:09 |
YZJ Shipbldg SGD
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HALT
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PROPOSED ACQUISITION OF 50.1% INTEREST IN PPL HOLDINGS PTE LTD ("PPLH") The Board of Directors of the Company is pleased to announce that the Company has: (a) entered into a placement agreement ("Placement Agreement") dated 15 April 2010 with a Middle East investor ("Investor") in relation to the placement of 83,555,000 new ordinary shares in the capital of the Company (each, a "New Share") at the issue price of S$1.295 per New Share ("Issue Price") to the Investor ("Placement"), which proceeds are to be applied by the Company for the Acquisition (as defined below); (b) entered into a joint investment agreement ("Joint Investment Agreement") dated 15 April 2010 with the Investor and Mediterranean Success Group Inc. ("MSG") (which is wholly owned by the Company's Non-Executive Director, Mr Yu Kebing) in relation to the acquisition of shares in PPLH by each of the Company, the Investor and MSG in the proportions of 50.1%, 45% and 4.9% respectively, and subsequent to completion of the Acquisition, to regulate the parties' rights and obligations as shareholders of PPLH ("Joint Investment"); and (c) issued a binding letter of offer ("Letter of Offer") dated 16 April 2010 to Baker Technology Limited ("Vendor") pursuant to which the Company has made an offer to the Vendor to acquire the entire issued and paid-up share capital of PPLH on the terms and conditions contained therein ("Acquisition"). |
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| 16-Apr-2010 09:36 |
Ying Li Intl
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Ying Li
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Another accumulating done.... Thanks.... Haut liao lai liao..... |
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| 16-Apr-2010 09:26 |
Ying Li Intl
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Ying Li
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So many q to buy at 585... ME too q to wait for panic sellers |
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| 16-Apr-2010 09:21 |
Ying Li Intl
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Ying Li
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YES !!! Thanks ! Get it at 585 Haut lar !!! |
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| 16-Apr-2010 09:14 |
Ying Li Intl
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Ying Li
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ACTION !!!!! Before calling HALT........FMs are rushing in to buy up..... CHEERS!!! |
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| 16-Apr-2010 08:45 |
YZJ Shipbldg SGD
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HALT
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They are planning to anounce two good news in this time halt. Pai Sey if one release now and 2 days later another halt. Contra ppls will die if every 2days halt once. So give them two more days to kill all the contra ppls. |
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| 15-Apr-2010 20:31 |
YZJ Shipbldg SGD
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HALT
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First halt to tell ppls no news yet.........cos the BBs did not buy enough...... Just two day halt again.........cos the BBs buy enough liao...... If two day later another third halt ......... HAUT LAR............ BUT, when resume trade huh......... |
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| 15-Apr-2010 20:28 |
Ying Li Intl
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Ying Li
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Rumours going to HK dual listings from FM...... Anyone gotten any news. Tomorrow if halt at 9am then can say that is confirmed liao..... |
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| 15-Apr-2010 12:24 |
Ying Li Intl
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Ying Li
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SOMETHING IS GOING TO HAPPEN !!!!!!
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| 15-Apr-2010 12:00 |
Jiutian Chemical
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Jiutian to hit $1
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Avoid this counter...... Another counter will force by SGX to delist soon. Good luck for those who still believe got hope. |
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| 15-Apr-2010 11:30 |
YZJ Shipbldg SGD
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Cruising with the ship ..Yangzijiang
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Subject: DJ Yangzijiang Plans Taiwan Depositary Receipts Issue - Report
DJ Yangzijiang Plans 09:19AM) begun discussions with the Taiwan Stock Exchange on its plan to issue unnamed sources. Singapore-listed Yangzijiang expects to submit an application to the bourse soon, the newspaper cited the sources as saying. depositary receipts, the newspaper reported, without citing sources. |
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| 15-Apr-2010 11:27 |
YZJ Shipbldg SGD
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Cruising with the ship ..Yangzijiang
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| 15-Apr-2010 11:21 |
YZJ Shipbldg SGD
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Cruising with the ship ..Yangzijiang
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HOW YOU KNOW ? CAN SHARE :
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| 14-Apr-2010 13:27 |
Ying Li Intl
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Ying Li
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Subject: (BN) China's March Property Prices Jump a Record 11.7% (Update2)
TIMES TO WATCH OUT FOR YING LI China's March Property Prices Jump a Record 11.7% (Update2) 2010-04-14 02:35:50.611 GMT (Adds analyst's comments in the fourth paragraph, cities with biggest price gains in sixth.) By Chia-Peck Wong April 14 (Bloomberg) -- pace in March, indicating government efforts to stem gains aren't working and more drastic measures may be needed amid concern of a bubble in the nation's housing market. Residential and commercial real-estate prices in 70 cities climbed 11.7 percent from a year earlier, the National Bureau of Statistics said on its Web site. The data goes back to 2005. in the first two months of the year to reduce the risk of asset bubbles. The government announced in March developers will have to pay a higher deposit for land purchases and banned banks from lending to builders found to be hoarding land or holding back home sales in anticipation of higher prices. "The property tax may come, and that would push some potential buyers on the sideline," Lee Wee Liat, a Nomura Holdings Inc., said before today's announcement. "If that's not effective, they will impose some more measures." and may start a trial in Sina.com reported April 8, without saying where it got the information. On the same day, the Shanghai Municipal Housing Support and Building Administration Bureau said any study of a property tax in the city is "entirely normal." price gain, with a 53.9 percent jump, the statistics bureau data showed. Sanya, also in The property market in the world's third-biggest economy is in a bubble that may burst by as early as this year, hedge fund manager James Chanos said in an interview last week. January the nation is off this heroin of property development. It is the only thing keeping the economic growth numbers growing." Home prices in due to a shortage of supply, Nomura's Lee said. "Last year, some developers were skeptical about the price increases and cut back on construction starts until the fourth quarter, so there's no supply in the market," he said. "Whatever the developers are putting out, people are grabbing." While home prices may cool in the fourth quarter, values may still rise 15 percent for the full year, he said. Sales Jump Chinese developers have announced increases in first- quarter sales. Evergrande Real Estate Group Ltd. said April 2 sales jumped 175 percent in the first three months of this year to 8.53 billion yuan ($1.25 billion). Kong-traded builder controlled by the Chinese construction ministry, said on April 8 sales rose 48.3 percent to HK$13.7 billion. To damp speculation, the government in January re-imposed a tax on homes sold within five years of their purchase, after having cut the taxable period to two years in January 2009 to bolster a then flagging market. The People's Bank of China is targeting a drop of 22 percent in new lending this year from 2009's record 9.59 trillion yuan and told banks twice this year to set aside more cash as reserves. The first quarter result is due on April 15. For Related News and Information: TOPR <GO> Most-read stories on economy stories: TNI CHECO MOSTREAD BN <GO> --With assistance from Li Yanping in Malcolm Scott. To contact the reporter on this story: Chia-Peck Wong in To contact the editor responsible for this story: Andreea Papuc at +852-2977-6641 or apapuc1@bloomberg. NOTICE The information contained in this email is confidential. If you are not the intended recipient, you must not disclose or use the information in this email in any way. If you received it in error, please tell us immediately by return email and delete the document. We do not guarantee the integrity of any e-mails or attached files and are not responsible for any changes made to them by any other person. |
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| 14-Apr-2010 11:02 |
Sinotel Technolo Rg
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breaking out
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Huge volumes accumulating at 555...... wu wu wu...........got got got....... Potiential break out |
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