Latest Posts By pharoah88
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| 11-Aug-2010 15:47 |
Genting Sing
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GenSp starts to move up again
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High Capital to go long UNlike Informatics or Enser ?
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| 11-Aug-2010 15:36 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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YOG ? ? ? ? WASTE Of PEOPLE'S TAX MONEY ? ? ? ?
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| 11-Aug-2010 14:56 |
Genting Sing
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GenSp starts to move up again
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profit taking ? ? ? ? Can SHORT at S$1.29 ? ? ? ? |
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| 11-Aug-2010 14:54 |
Genting Sing
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GenSp starts to move up again
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BEAR TRAP = BEAR in BULL SKIN From FAR, it lOOks like a BULL It is tOO late and tOO clOse tO discOver it tO be a BEAR there is nO TIME tO escape the BEAR CLAWS when the BULL SKIN is shed |
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| 11-Aug-2010 14:49 |
User Research/Opinions
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%%%% WORLD ECONOMIC SUMMIT %%%%
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During the 1997 Asia Financial Crisis, INDON economy was one of the WORST. During the 2008 World Tsunami, INDON transformed itself into one of the BEST economies. TODAY INDON has a very stable growing domestic market enough to sustain its own economy. With the NEW and BETTER GOVERNMENT, INDON RUPIAH is STABLE and nOt Risky, unlike before. In TODAY's BANKING SCENERIO, those banks which cannot NORMALISE their FIXED DEPOSIT INTEREST RATE are NOT SUSTAINABLE in the LONG TERM because there is an INHERENT WEAKNESS in their HOST COUNTRY's ECONOMIES . . . . INDONESIA and MALAYSIA are SAFE BET relative to SINGAPORE . . . I am very comfortable with both RUPIAH and RINGGIT in this decade.
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| 11-Aug-2010 14:11 |
Golden Agri-Res
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GoldenAgr
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HEARD: this group's management is well known as "Long Kang" [BiG DRAiN] they always DRAiN BiG the CASH OUT to BiG DRAiN ? ? ? ? |
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| 11-Aug-2010 14:08 |
Citic Envirotech
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United Envirotech
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profit surged 284.9% YoY SUPER result but PRICE FELL ? ? ? ? |
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| 11-Aug-2010 14:02 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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Can SHORT Genting SP ? At what PRICE ?
Can SHORT DBS ? At what PRICE ? Singapore Banking Sector is in an ABNORMAL PHASE ? ? ? ? UNable to NORMALISE the BANK DEPOSIT INTEREST RATE, Singapore Economy will be like JAPAN sOOner Or later ? ? ? ?
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| 11-Aug-2010 13:44 |
Q&M Dental
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Potential Gem
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From Bukit Batok to Beijing Millet Enriquez emelita@mediacorp.com.sg SINGAPORE “To attract dentists to join the practice is not an easy task,” said Dr Ng, the chief executive officer of Q & M Dental Group. The Mainboard-listed firm currently has 120 dentists — which represents about 8 per cent of the registered dentists in Singapore. And to retain them, the company makes sure that their needs are met and that they are updated with the latest technology and industry knowledge, Dr Ng said. “We can have all the hardware, the nurses and patients. But without a good set of dentists, a good pair of hands, it will not work,” he said. Dr Ng, now 42, had to do all the leg work when he decided to invest $120,000 to open the first Q & M clinic in 1996. He sold his two-room HDB flat in Clementi to raise the money at a time when he was also just starting a family. “That time, my eldest daughter was just born, but I had to make the decision to sell the flat,” he said. With the help of three dental assistants, he treated patients from 9am to 9pm seven days a week. And the hard work paid off as he recouped his capital within the first year of operation. Additional clinics were set up at Toa Payoh, Sims Place, Kallang and Sembawang in the following years as more well-known dental surgeons joined Dr Ng. Today, Q & M has grown to 39 dental clinics, a dental centre and a mobile dental clinic in Singapore. Its services now include aesthetic dentistry, dental implants, orthodontics, oral surgery and general dental treatments. The company is set to open its 40th clinic in two months. “I didn’t know that we were going to grow to this size. At that time, it was quite an interesting thing for me to set up more dental clinics in Singapore,” said Dr Ng. Last year, Q & M went public on the Singapore Exchange, a move that Dr Ng said helped boost its profile and attracted more dentists to the company. And to put into action its plans to expand in China, Q & M has partnered with two dental firms in Beijing and Nanjing, whose management teams also include practising dentists. Q & M plans to invest $37 million in the next three years to extend its brand in China. It intends to build 50 dental clinics there in five years. The group is hoping to tap into the sizeable market in China, as higher living standards improve dental healthcare awareness. At the moment, less than 8 per cent of the population visit dentists yearly. So far, it has invested $4.2 million for dental clinics in Beijing and Nanjing. Q & M has also inked an agreement with a Chinese dental firm to invest another $5.4 million for a 49-per-cent stake in a dental laboratory business. — It has been 14 years since Dr Ng Chin Siau set up the first Q & M dental clinic in Bukit Batok. But he feels that the dental care industry faces the same challenge as in the past.Q & M Dental Group CEO Dr Ng Chin Siau believes in updating his staff with the latest technology and industry knowledge. S’pore Dental Group |
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| 11-Aug-2010 13:17 |
Trading Techniques
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TRADING < WARRANT >
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DID YOU KNOWW ? Does the issuer always take the opposite position to the warrant holder? Does the issuer profit at the expense of the investor? No. Warrant issuers usually ‘cover’ positions created when buying or selling the warrants it has issued by buying and selling the underlying shares/indices or another warrant or option. Accordingly, if a warrant’s price falls due to a decline in the share price it does not translate to a direct profit for the issuer as the issuer is likely to hold a hedge against this which may have also declined in value. Warrant issuers want investors to have a positive experience with their product. If investors lose money, they are less likely to continue trading warrants. |
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| 11-Aug-2010 13:14 |
Trading Techniques
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TRADING < WARRANT >
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How Warrant Flow complements your trading strategy To trade index warrants, the bank suggested that investors take a look at the warrant money flow before making decisions. Warrant flow is the turnover of warrants linked to a certain underlying. Specifically, it represents the net amount of money flowing in (buying and holding position) or out of (selling) a particular underlying as of market close. |
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| 11-Aug-2010 13:11 |
Trading Techniques
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TRADING < WARRANT >
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The corporate earnings season spurred a rally across world markets and the Hong Kong market rallied for an eight consecutive session towards the end of July. Bloomberg reported that the Hang Seng Index (HSI) ended July with a gain of 4.48 per cent, its best monthly performance in the last 10 months. As of August 3, the Hang Seng Index stayed above its 250-day moving average, at around 21,000 points. According to Bank of America Merrill Lynch, investors who are keen to participate in the movement of indices can explore Index Warrants. Indices are one of the most actively-traded underlying assets in the warrants market. In Singapore, HSI-related warrants account for 40 to 50 per cent of the warrants market turnover value. Index warrants are linked to specific indices and they provide investors with a vehicle to trade in market directions. For example, if you hold a bearish view of the Hong Kong market and expect the HSI to fall within a one-month period, HSI-related put warrants provide the opportunity to profit from the index’s decline. A warrant is a derivative option that provides the leverage effect. If you have a strong directional view of the index, purchasing index warrants will provide you leveraged exposure with relatively minimal capital outlay. Bank of America Merrill Lynch suggests that investors should understand the risks associated with warrants before making a purchase, as they may suffer from potential loss if they inaccurately forecast the underlying. It is equally important that investors manage their risks properly by defining appropriate stop-loss level.
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| 11-Aug-2010 13:07 |
Trading Techniques
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TRADING < WARRANT >
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Use index warrants to trade market directions |
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| 11-Aug-2010 12:57 |
Trading Techniques
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! ! ! ! Trading Seminars ! ! ! !
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FREE SEMINAR CHAOS to TREND in FOREX TRADING Tuesday: 24 August 2010 7pm - 9pm CMC MARKETS 50 Raffles Place #14-06 Singapore Land Tower SINGAPORE 048623 Register Online http://www.cmcmarkets.com.sg/education/seminars |
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| 11-Aug-2010 12:51 |
User Research/Opinions
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%%%% WORLD ECONOMIC SUMMIT %%%%
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Aussie opposition vows to nix fibre optic network SYDNEY The opposition coalition wants to replace the government’s A$43 billion ($53.1 billion) fibre optic network with an A$6.3 billion “backbone” to be used by competing telecom firms. “The coalition’s plan will stimulate a vibrant, private sector-based broadband market, with government involved to encourage competition and ensure services reach all Australians,” Mr Smith said. The new plan involves spending A$2 billion on fixed wireless networks across the huge country and another A$750 million to allow homes to receive high-speed Internet. Other homes would access the Internet via fixed lines or by satellite, connecting 97 per cent of homes by 2017 with a minimum speed of 12 megabits per second. The plan would replace the government’s initiative to wire 93 per cent of homes with high-speed fibre optic cable capable of up to 100 megabits per second. Singapore Telecommunicationsowned Optus, Australia’s second-largest telco, said there was a fundamental and philosophical difference between the coalition and Labor plans. “They think they can take an incremental approach and gradually get better at fixing these problems by targeting certain things, whereas the ALP (Australian Labor Party) has moved for root and branch reform,” said Optus spokesman for government and corporate affairs, Mr Maha Krishnapillai. “It’s a lot less money but we’ll get a lot less for it as well,” he added. Telecommunications analyst Paul Budde said the opposition’s plan had some merits but “lacks a vision and a strategy for the future”. “It is like having many parts of a car spread out on the floor, with no plan on how to put it all together,” he said. Mr Budde said ineptness when the Conservatives were last in power had left Australia “at the bottom of the international broadband ladder” and the policy would take the nation backwards. “For more than a decade the coalition tried to create facilities-based competition and they failed. It doesn’t make sense to compete on infrastructure ... How is the opposition going to achieve this by simply referring back to the failed policies of the past?” he added. Communications Minister Stephen Conroy said the coalition plan would “consign Australia to the digital dark ages, destroy jobs and risk our economy for decades”. SingTel shares, which were trading when Mr Smith’s comments were broadcast, were not affected by the news. They ended up 1 per cent at $3.07 in Singapore yesterday.
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| 11-Aug-2010 12:40 |
All-S Equities Fin
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SINGAPORE BANKS - UOB + OCBC + DBS
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Bank of JAPAN keeps interest rate steady at 0.1 per cent Japan’s central bank yesterday kept its key rate unchanged at 0.1 per cent, aiming to continue nurturing a moderate recovery while also combating deflation. “Japan’s economy shows further signs of a moderate recovery, induced by improvement in overseas economic conditions,” the Bank of Japan said. The decision to leave the key rate unchanged comes amid worries about the impact of the yen's recent strength on Japan's fragile exportdriven recovery, which has driven speculation as to how the bank may respond. Japan has not intervened in currency markets since 2004. For every 1¥ rise in the currency's value against the US dollar, companies can lose tens of billions of yen earned overseas when repatriated. The yen was little changed after the monetary policy decision, trading at 85.82 to the US dollar in Asian trade. |
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| 11-Aug-2010 12:35 |
All-S Equities Fin
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SINGAPORE BANKS - UOB + OCBC + DBS
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UOB Q2 profit rises 28% Earnings attributed to fall in bad loans SINGAPORE — Net income jumped to $602 million in the three months ended June 30 from $470 million in the corresponding period a year earlier even as non-interest income plunged 31 per cent, the bank said yesterday. Swings in stock and bond markets, and signs of economic headwinds in the United States, Europe and China have deterred clients from trading and making share sales, trimming earnings’ gains. Singapore’s three-month interbank lending rate, or Sibor, has averaged 0.6 per cent this year, hampering net interest margins. “The numbers demonstrate the revenue challenges for the bank,” said Mr Sanjay Jain, a Singapore-based analyst at Credit Suisse. Still, the second-quarter profit matched the $602.6 million average estimate of eight analysts surveyed by Bad-loan costs in the quarter fell 88.9 per cent from a year ago to $52 million, mainly because of lower collective and individual impairment on loans. Non-interest income fell to $382 million from $551 million a year ago, as trading and investment income tumbled 95 per cent to $12 million, UOB said. Net interest income, or the difference between what the bank makes from lending and what it pays on deposits, fell 2.6 per cent to $884 million in the quarter mainly from lower interest margins. The net interest margin, a measure of loan profitability, narrowed to 2.14 per cent from 2.35 per cent a year earlier, it said. UOB’s fees and commission income, including credit card and fund management fees, grew 27 per cent to $285 million as economic conditions improved and net loans grew 6.1 per cent to $103.8 billion. Rival Oversea-Chinese Banking Corp’s second-quarter profit missed analysts’ estimates, as its trading earnings also slumped and its lending margins narrowed. The DBS Group, South-east Asia’s biggest lender, last month reported an unexpected second-quarter loss of $300 million as it booked a one-time goodwill impairment charge at its Hong Kong unit. UOB shares fell 1.1 per cent to $19.30 at the close of trade yesterday. The shares have dropped 2 per cent this year, compared with a 3 per cent increase in the benchmark Straits Times Index. United Overseas Bank (UOB), the last of the three listed local banks to announce earnings, reported a 28 per cent increase in its second quarter profit as declining bad loan charges offset a slump in client trading and share sales.Bloomberg.BLOOMBERG |
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| 11-Aug-2010 12:29 |
All-S Equities Fin
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SINGAPORE BANKS - UOB + OCBC + DBS
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‘Yes’ to new rules on short-selling SINGAPORE — Observers said the new rules would help raise the local market’s level of transparency to be in line with those in developed markets. Regulations first imposed by the SGX in 2008 sought to curb naked short-selling where the trader sells a stock he does not have and without borrowing the scrip. These regulations penalise traders if they fail to deliver the stocks by settlement date and were introduced when bourses in the West and in some parts of Asia banned short-selling temporarily or limited these type of trades. Recently, the SGX made a move to finetune the regulations in an effort to increase transparency. In a consultation paper released late last month, it proposed that sell orders be categorised into “normal” or “short”. Analysts believe these regulations would put the SGX in line with developed markets like Hong Kong, where the short-selling market action is far more vibrant. They believe that if short-selling becomes more prevalent among retail investors, the SGX may look at selective enhancements of its rulings. “It should not be the case that every single retail product should run like a hedge fund, essentially allowing you to go long and short anytime you want.” said Associate Professor Bernard Lee of the Singapore Management University. “As far as individuals are concerned, placing a short bet should be no different from placing a long bet as long as the investors post the correct amount of margin,” he added. Otherwise, existing rules are sufficient and within reason, market players said. The recent move to introduce new rulings to regulate short selling on the Singapore Exchange (SGX) has been largely well-received by market players.Jo-ann Huang |
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| 11-Aug-2010 12:20 |
User Research/Opinions
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%%%% WORLD ECONOMIC SUMMIT %%%%
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S’pore economy grew 18.8% in Q2 Ryan Huang ryanhuang@mediacorp.com.sg SINGAPORE Despite the economy growing slower than initially forecast, MTI said the headline number was still a record for quarterly growth — boosted by a broad-based recovery, especially in biomedical manufacturing, electronics and tourism. “We have had an exceptional first half. Some of these factors are structural, and will continue to lend support in the second half,” said Mr Ravi Menon, MTI’s Permanent Secretary. Overall, the first half growth was at 17.9 per cent on-year — a record since 1975. Manufacturing drove the growth in the second quarter, led by production from the biomedical and electronics segments. Overall, the sector expanded 44.5 per cent on-year. The construction sector grew 11.5 per cent, supported by an increase in public sector construction activities, while the services industries advanced 11.2 per cent in the same period. Tourist arrivals in Singapore exceeded the 1 million mark for a single month for the first time in July, aided by the opening of two integrated resorts with casinos. However, the ministry warned that growth would moderate for the rest of the year. For one, the volatile biomedical manufacturing sector may weigh on the second half due to a high base, after the segment saw a 70-per-cent surge in production in the first six months. Mr Leong Wai Ho, senior regional economist at Barclays Capital, said that in the first half, Singapore saw a spike in pharmaceutical output, which was higher than usual and unlikely to be repeated. “This really reflects the switch over in the product mix in pharmaceuticals from relatively more patented drugs to generic drugs, so it’s producing this large fall in output as a result,” Mr Leong said. The MTI said one key risk on the macroeconomic front would be the US economy. The ministry added that while a double-dip recession was unlikely in the US, the recovery there would remain sluggish going into next year. This means that, while the downside risks to growth from the European debt crisis appear to have eased somewhat, the overall situation is still fragile. The Government kept its forecast for Singapore’s economy to grow between 13 per cent and 15 per cent this year, which would still make the country the world’s fastest growing economy. — The economy expanded 18.8 per cent in the second quarter from the corresponding period a year ago, slower than the initial estimate of 19.3 per cent, according to final data released yesterday by the Ministry of Trade and Industry (MTI).But MTI warns growth will likely moderate |
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| 11-Aug-2010 12:07 |
All-S Equities Fin
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SINGAPORE BANKS - UOB + OCBC + DBS
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For better banking, think small Small banks that offer longer hours and free coffee could boost service standards in the sector
It seeks to “surprise and delight” its customers, have “no stupid bank rules” and offer “satisfaction guaranteed”. It’s open from 8am to 8pm and even offers dog biscuits if you bring your dog along. The only thing is, Metro Bank opened in the United Kingdom and not in Singapore. It just shows, though, how new and smaller banks can pave the way towards better service. And Metro Bank isn’t the only small bank that does so well. Another is Umpqua Bank in the United States. Walk into the lobby of a “store”, as they call each branch, and you might think you’re in a major retailer. “Umpqua has in recent years unveiled a new generation of branches that sport touch-screen video walls providing product information, Internet cafes and conference rooms that any business, charity or community group can reserve at will,” was how Dean Foust described it in The new bank that opened at the end of last month promises far better service than its competitors.BusinessWeek.There’s even a coffee bar with Umpqua coffee, free Internet access and CDs by local musicians on sale in some of the branches. Even as these and other small banks in other countries expand and offer better service, there has been discussion in Singapore lately about consolidating banking further so that local banks can compete better internationally. It could well be time, though, to look beyond overseas expansion and think about allowing small new competitors to offer innovative banking services for customers here. Rather than limiting the number of local banks, supporting big banks while still allowing more options in the local market would offer customers more choices. And if small banks open up and do here what they’ve done in other markets, innovation and service could flourish. For one, customers could have a great experience at the bank. Service at smaller banks is often faster and more personal. Branch staff at small banks often know many of their customers by name and they pick up the phone themselves when customers call. That free coffee, cookies, Internet ac cess and children’s play area for people makes going to the bank a pleasure.KEPT ON THEIR TOES For another, the service levels at these nimble competitors keep big banks on their toes. Some larger banks in the UK, like RBS, have recently improved their service levels and others may do the same now that Metro Bank is actually open. As investment bank Execution Noble’s analyst Joseph Dickerson told the What it could do, however, is raise the bar for service in the industry. And convenience could very well offset better rates offered by competitors”. Changes like these would be a real benefit to consumers here. Just think, if we had something like Punggol Bank and it operated like Metro Bank in the UK. Longer hours seven days a week, guaranteed better service, free coffee and “no stupid banking”, for a start. Some of these new banks might develop innovative new products, and the competition could even strengthen the local banks for their forays abroad by forcing them to compete better at home. That’s not to say that some local and multinational banks here don’t already offer good service. Indeed, some staff at the banks are great. With more competition, though, the target queue time of less than eight minutes at some banks might drop well below five; there might be coffee everyday rather than just snacks for seniors on Tuesday mornings; and accounts might get opened with less paperwork. It’s true that some people hardly ever go to a bank anymore. For Internet and mobile banking users, a small local bank with fantastic service and great coffee may not matter. For the many people who do sometimes need to walk into a bank branch and who want better service, though, small banks in other countries show what they might enjoy if more banks open here. Wall Street Journal right after Metro Bank opened, Metro “shouldn’t be a threat to the big banks when it comes to market share.The writer is a consultant who has lived in Singapore since 1992. |
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