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29-Jun-2010 12:21

OCBC Bank / OCBC

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No plans for consolidation

MAS : Up to banks to evaluate merits

Jonathan Peeris

jonathanpeeris@mediacorp.com.sg

SINGAPORE

Meanwhile, analysts told MediaCorp that there is no indication that the local banks are heading in that direction unless there is a policy shift first.

Market watchers were responding to comments by Minister Mentor Lee Kuan Yew, who said last Friday that Singapore was “too small” for three banks.

At a dialogue session organised by the Association of Banks in Singapore last Friday, the Minister Mentor said Singapore’s local banks may need to consolidate if they want compete successfully overseas.

Some analysts agreed and said the three banks, DBS, OCBC and UOB, will need to double their current market capitalisation, in order to compete effectively with foreign players like Standard Chartered or Citibank.

Mr Moh Tze Yang, lead analyst at Sias Research, said that “if you look at it in terms of Singapore’s entire banking system, by combining our two strongest banks, this bank will be able to compete internationally.

As the current situation stands, we still maintain that OCBC, if a consolidation would occur, would be the primary target to be absorbed in”.

But while the combined bank would emerge stronger, local SMEs who enjoy better interest rates from local banks would be dealt a blow with fewer players left in the market.

However, NUS Associate Professor Ananda Srinivasan said there could be possible benefits to consumers instead in the long run.

“In the longer run, any consolidation might result in a lower cost of capital to the bank, and this lower costs are then in turn passed on to the consumers, in terms of let’s say lower interest rates on notes, that might be a long term benefit,” said Prof Ananda.

Yet Prof Ananda added that “one would have to ask the question as to why the banks would pass on the benefits.

They don’t necessarily have an incentive to do that right?”.

Analysts added that any consolidation would be driven by policy shifts rather than market forces.

In a statement, MAS said while it has encouraged the local banks to consolidate in the past to benefit from economies of scale, it does not and cannot dictate the precise number or configuration of local banks.

The three local banks declined to comment.— The Monetary Authority of Singapore says it has no plans for bank consolidation in Singapore and it’s up to the banks to evaluate the merits of any merger.

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29-Jun-2010 12:11

SMRT / SMRT

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So why are Singapore roads still congested?

Letter from Kwan Jin Yao

I READ with interest the report, “A question of supply and demand” (June 26) by Loh Chee Kong, on the interview with Transport Minister Raymond Lim.

Transportation is an important issue for all Singaporeans; with our huge vehicle traffic and inherent geographical constraints, Singapore has one of the most congested roads around the world. Despite a plethora of measures rolled out by the Ministry of Transport and the Land Transport Authority, the continuing rush-hour congestion proves that more has to be done to evaluate existing measures and develop more effective action plans.

The Certificate of Entitlement (COE) system was introduced in 1990 to regulate and control car ownership and congestion on the roads, yet we seem to be facing the same problems today. Quoting the laws of supply and demand is irrelevant because the results have not been exactly favourable; furthermore, increasing vehicle speeds might not be a good gauge for the extent of congestion on our roads.

On a related note, how effective has the Electronic Road Pricing (ERP) been? The fact that other countries and cities are selectively adopting similar measures is beside the point; what is more important is the effectiveness of its implementation locally.

While the Transport Minister approves of such a congestion management measure, the same jams and heavy traffic are evidenced every single day on expressways.

Motorists are simply frustrated by the daily routine of slow-moving traffic, and annoyed by the fact that our roads seem particularly susceptible to standstills whenever accidents occur.

After years of paying toll charges at gantry after gantry, Singaporeans have a right to know if their payments have genuinely improved road and driving conditions.

Mr Lim’s decision to commute on public transport at peak hours would give him an excellent picture of the degree of inconvenience and human traffic experienced by thousands of commuters a day, on trains and on buses.

Right now, the approach should not solely focus on encouraging Singaporeans to step out of their cars but by upping the pull factor and making our public transport more effective, efficient and obviously more comfortable.

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29-Jun-2010 12:00

Straits Times Index / STI to cross 3000 boosted by long-term investors

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TRUE CHARACTER

of

TYPICAL AUSTRALIAN

? ? ? ?

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29-Jun-2010 11:57

Straits Times Index / STI to cross 3000 boosted by long-term investors

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# RUTHLESS GILLARD #

Australia PM reshuffles Cabinet but has no room for Rudd

SYDNEY

Buoyed by opinion polls endorsing her new leadership, Ms Gillard promoted no fresh ministers to her Cabinet. Former Trade Minister Simon Crean takes over Ms Gillard’s portfolios of employment, industrial relations and social inclusion. Foreign Minister Stephen Smith adds trade to his portfolio, while Mr Rudd remains sidelined until after polls that could be just weeks away.

Analysts say Labour has taken a gamble in changing leaders in such ruthless fashion so soon before polls, which Ms Gillard has promised within months.

Mr Norman Abjorensen, an Australian National University political scientist, said the scant Cabinet changes betrayed Ms Gillard’s plans to call an election soon.

Broader Cabinet changes would have burdened Ms Gillard with more inexperienced ministers who needed time to establish themselves before she could risk going to the voters. — Australian Prime Minister Julia Gillard (picture) left dumped ex-leader Kevin Rudd out of her first Cabinet yesterday as she announced a minor pre-election reshuffle after her spectacular rise to power.Agencies

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29-Jun-2010 11:32

Genting Sing / GenSp starts to move up again

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DESTROY

YOUR LIMITS

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29-Jun-2010 11:27

Genting Sing / GenSp starts to move up again

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VisitOrs set anOther recOrd

SINGAPORE

The Singapore Tourism Board said 946,000 people visited the country in May, an increase of 30.3 per cent compared to a year ago. The top five visitor-generating markets were Indonesia, India, Malaysia, China and Australia, accounting for 55 per cent of total visitor arrivals.

Gazetted hotel room revenue was estimated at $164 million, an increase of 45.2 per cent over May last year. Average occupancy rate was 85 per cent, a 17.1 percentage point increase.

Changi Airport, too, registered the highest growth in passenger traffic yearto-date in May.

It handled almost 3.39 million passenger movements, a 21.6 per cent increase compared to May last year, said the Changi Airport Group.

This took the total number of passenger movements for the first five months of the year to more than 16.6 million, an increase of 16.7 per cent year-on-year.

On the airfreight front, cargo movements last month totalled 153,098 — an increase of 14.7 per cent. For the January- May period, airfreight movements were up 17.3 per cent to 728,794 tonnes.— Singapore enjoyed a sixth consecutive month of record visitor arrivals last month.

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29-Jun-2010 11:20

PacShipTr US$ / PST

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The ONLY Shipping REIT

that KEEPS its PROMiSE

on INVESTMENT for GROWTH

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29-Jun-2010 11:16

PacShipTr US$ / PST

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Pacific Shipping Trust has added a news release to its Investor Relations website.

Title: PST To Acquire Two New 180,000 DWT Capesize Bulk Carriers

Date: 28/06/2010

For a complete listing of our news releases, please click here

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29-Jun-2010 10:54

Genting Sing / GenSp starts to move up again

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Genting SP

Symbol:
G13

Currency:
Singapore Dollar

Last:

1.17

+ 0.02

Vol (K): 136126.0

Trading
Updated Time	29-Jun 10:32
Open	1.16	High	1.2	Low	1.16
Prev Close	1.15	Buy	-	Sell	-
Volume(K)	136126.0	Buy Vol(K)	-	Sell Vol(K)	-
52 Wk High	1.3	52 Wk Low	0.64	52 Wk Avg Vol	45382.994
All Time High	1.32	All Time Low	0.295
Comments	No Info

*Reporting Currency in SGD
Important: ShareJunction obtains our finance data from a third party. Check financial year before use. EPS values are recorded up to two decimal points.

Financials
Date Updated	31-May-2010	Financial Year	31-Dec-2009
Current Year Profit (After Tax) $'000,000	-277.565	Previous Year Profit (After Tax) $'000,000	-124.804
Net Asset Per Share	0.22	Turnover $'000,000	2809.56
Current Year EPS (After Interest and Tax)	-0.02	Previous Year EPS (After Interest and Tax)	-0.01
PE Ratio (After Tax)	-53.0	Times Covered	0.0
Price (at update time)	1.06	Dividend Yield	0.0

*Technical Analysis Information is updated Daily

Technicals
RSI	70.1	Williams %R	-11.76
Comments (RSI)	Overbought	Comments (W%R)	Overbought

Intraday Chart

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29-Jun-2010 10:49

Genting Sing / GenSp starts to move up again

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R i G H T S

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29-Jun-2010 09:48

Genting Sing / GenSp starts to move up again

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Ha Ha Ha Ha Ha Ha Ha Ha

He He He He He He He He

Hi Hi Hi Hi Hi Hi Hi Hi

Ho Ho Ho Ho Ho Ho Ho Ho

Hu Hu Hu Hu Hu Hu Hu Hu

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29-Jun-2010 09:41

Genting Sing / GenSp starts to move up again

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T A R G E T

150,000 ViSitOrs

DAiLY

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28-Jun-2010 15:38

Others / MBS Casino

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RWS Casino is even smaller than that of MBS

niuyear ( Date: 28-Jun-2010 15:33) Posted:

MBS casino only takes up 2% of whole of its total area yet it cld generate more money than its other facilitites. This shows Small is Beautiful. hahaha!

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28-Jun-2010 15:31

Others / GIC and Temasek

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Economist says,

"As SUPPLY increases, the PRICE falls."

SAGE says,

"As POPULATION grows, individual citizen becomes cheap and weak."

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28-Jun-2010 15:27

Others / GIC and Temasek

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New Australian PM Gillard BUSTED the MYTH that population growth is the panacea to National Growth.

Population is no no to National Prosperity UNLESS everyone of the lower 50% percentile population has increasing annual income over and above the annual inflation rate plus the bank prime rate.

Otherwise, population growth is equal to citizen poverty growth.

DON'T be SWEPT OFF by the average Per Capital Income.

Increasing average PCI is nOt equal to Growth in individual citizen's person annual income.

All average Statitics are SCAM because the figures are nOt suppOrted by TRUTH in the LIFE of the citizens.

niuyear ( Date: 28-Jun-2010 11:17) Posted:

Singapore population is increasing and the same goes to CPF contributors. We have the safe and sound environment condusive to investors. List goes on........

alooloo ( Date: 28-Jun-2010 10:40) Posted:

From the day CPF with a ceiling of contribution and a minimum sum, we should know it is perfectly well design to con the money of sandwich class...

I think Minister should lock 50% of their pay in CPF....

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28-Jun-2010 15:07

Popular / Popular, good to buy and hold for long term?

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Books are expensively overpriced in Singapore.

Singaporeans buy only the text books which they have no choice.

Book businesses are not profitable in Singapore.

Several famous old old book publishers and shops were closed in 2009 / 2010.

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28-Jun-2010 15:02

Asiatravel.com / Holiday spree

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In ANticipatiOn of massive TRAVEL intO ASIA frOm the WESTERNISED nOn-ASIAN cOuntries during 2008,

CHINA revamped the whole of BEIJING and SHANGHAI in all aspects over several years to WELCOME the ANticipated WERTERNISED GUESTS and PUT UP the WORLD's BEST OLYMPIC SHOWS but ended up to CHINA's GROSS DISappointment.

There was nO westernised crowds at the CHINA OLYMPIC despite that all security personnel were sent locally or even to Singapore for a 3 to 6 months English Language course [I was told by a local English Language Training School].

One Singapore conglomerate made a donation due to their CHINA business presence and was issued with a pack of Olympic Tickets including to the Granding Opening Night. My friend and his family was offered the free Entrance Tickets [but no Air Tickets and no free Hotel accommodation] which he immediately declined.

Tickets were all sold out. but on the Grand Opening evening, another friend who attended said one section of the Olympic Stadium with empty seats, was cordoned off and not shown on the TV.

History repeats in 2010 at the SHANGHI World EXPO. There is still no westernised crowd.

Heard from my in-laws in America, many Americans have never travel out of America. In fact, there are still many Americans who have not been to the Las Vegas casinoes and American Disneyland as well as the Nigara Falls.

Westerners do not SPLASH their own money to travel to ASIA.

Except the back packers who flocked to BANGKOK and the Highly Active Males who want to BANG KOK. I heard from my Thai business counterpart when i was in BANGKOK before.

According to Observations, westerners travel to ASIA only on corporate business trips fully paid with salary paid too by their EMPLOYERS but not in personal capacity paying their own fares for ASIAN trips.

Even in Singapore, take away all the EXPATs and the conference participants who are here for FREE, i have not seen coaches full of westerner tourists at Singaporean attractions.

On the other hand, ASIANS are well known to travel on own account with CASH or on CREDIT.

PS: My friend whose brother is currently located in SHANGHAI told us that ALL SHANGHAI residents (as long as you have a SHAHGHAI residential address to your name) received a FREE entrance ticket each to the SHAHGHAI EXPO.

CHINA Government is very Citizen Centric and is not focused on making money internally from its citizens, who are frequently endowned with FREE national entitlements.

It is Grossly UNimagineable to the mainland Chinese that Singaporeans have to pay S$100 per person per day just to enter into the IR CASINO, even that one dOes NOT GAMBLE. It is an ENTRY TICKET and nOt a GAMBLING VISA.

This is probably SEEN as the MOST CRUDE FORM of INTERNAL PROFITEERING by any DEFINITION ? ? ? ? Some Singaporeans vowed that they will only go to Genting Highlands Casino for this reason. Other Singaporeans vowed that they would never enter the IR casino if required to pay the S$100 entrance fee.

Will the S$100 IR Casino Entrance Fee be Corrected to become Daily Gambling Visa ? ? ? ?

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28-Jun-2010 14:20

Asiatravel.com / Holiday spree

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ASIA TRAVEL

OUT of ASIA ?

iNtO ASIA ??

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28-Jun-2010 14:11

Entertainment / Jokes for relaxation for those boring trading days

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low cut is nOt a SEXY RATING anymOre

nOwadays, Ah Mah alsO:

nO cUp

no buttons

bare low back and belly

hot pants

tOO many divOrces

tOO keen cOmpetitiOn amOngst the females

tOO many female fOreign talOnts

nOt enOugh male tO take care Of them

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28-Jun-2010 14:05

Entertainment / Jokes for relaxation for those boring trading days

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Bubble Tea Party Girls were mOre cOOl and FRiENDLY

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