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Midas
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GorgeousOng
Elite |
01-Feb-2013 10:00
Yells: "Hehehaha...enjoy life n live to the fullest..." |
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Quickly look for another train!!!:)
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lllusion
Member |
01-Feb-2013 09:58
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Good luck for those vested.
I fell off the train too early lol... |
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bishan22
Elite |
01-Feb-2013 09:50
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Train starts again. Dont miss it. Good luck. 
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MedicineTrader
Member |
31-Jan-2013 22:27
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Hi guys, am new to the boards. Anyway, time to reload on this counter and what better day than Discount Friday? :) |
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sgxtrader2013
Member |
31-Jan-2013 13:02
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Loaded. hope the train start move up after I on board. | ||||
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NICHOLASCHUA
Member |
31-Jan-2013 09:14
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Good chance to board the train again if you've alighted recently. | ||||
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Octavia
Elite |
30-Jan-2013 20:57
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Analysts’ Breakdown: Riding A Chinese Turnaround With Midas
Read more: http://www.sharesinv.com/articles/2013/01/30/analysts-breakdown-riding-a-chinese-turnaround-with-midas/ |
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Peter_Pan
Supreme |
30-Jan-2013 12:41
Yells: "did you order dunkin' donuts" |
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30-01-2013 12:31:38 DEAL REVIEW: China Railway opens central SOE space with USD8bn orders HONG KONG, Jan 30 (IFR) - Hong Kong- and Shanghai-listed [China Railway Group] opened the infrastructure construction space in Asian G3 market with stellar result as it collected USD8bn of orders for a USD500m deal. The first rated SOE issuer under the State-Owned Assets Supervision and Administration Commission to tap the international bond market in 2013 paved the way for other SOEs to follow suit. Indeed, [China State Construction International Holdings] (Baa3/BBB-/BBB-) duly followed, announcing this morning that it has mandated Bank of America Merrill Lynch, China International Capital Corporation Hong Kong Securities and Deutsche Bank to take it in roadshows to Hong Kong, Singapore and London starting tomorrow. There is also talk that CNPC has mandated a deal and rumours that more are in the works. " China Railway could have gone for a much larger deal, but it seems to have taken a disciplined approach - not to stretch its muscles but leaving some room for other Triple B rated SOEs," said a rival banker. The company did a good job of opening the door for other Chinese SOEs as it created a fairly tight benchmark but also left enough on the table to ensure secondary performance. The bonds were quoted this morning at 100.185. The state-owned company priced its USD500m 10-year Reg S only bond at 99.786 to yield 3.876% on a 3.85% coupon, or 190bp over the 10-year US Treasury. That was at the tight end of final guidance of T+195bp area and 30bp tight to initial price talk of 220bp over. The transaction was 16 times oversubscribed with 350 accounts putting orders, thanks to significant anchor interest from high-quality PRC accounts from the beginning. Fund managers and asset managers were allocated 52% of the transaction, while banks took up 21%. Insurance and public sector buyers took 9%, private banking accounts 9% and corporates and other investors bought 3%. Asia accounted for 70% of the bids while Europe came in with the rest. The issuer must be happy too with the significant tightening of 30bp from initial price guidance, however some investors commented that they would have preferred a larger, more liquid deal and with a juicier price. Having said that, in terms of credit and scarcity, it is almost a must buy for benchmark and portfolio reasons, according to an investor. And even at a tighter price, the deal still left some money on the table. The bonds offerd a decent pick-up over China Oilfield Services (A3/A-/A-), as its 3.25% due 2022 paper was quoted yesterday at 145bp over UST, or a G-spread of approximately 153bp. However, compared to the 3.95% due 2022 from China Overseas Land (Baa2/BBB), which was quoted at 205bp over UST, the China Railway deal looked fairly tight. That notion fades, though, when ratings are taken into account as China Railway is expected to be rated BBB+/BBB+, hence one notch above China Overseas Land. Railways is 56% owned by the Central Government, and while other names like Beijing Enterprises are maybe stronger standalone credits, they are also part-owned by a lesser municipal entity. And Beijing Enterprises 22s trade around +145/130, so call it z+158bps. China Railway Group and China Railway Construction share a virtual duopoly in domestic rail construction. China Railway Group has around 40%-45% of that market. It is also frequently allocated commercial construction contracts for overseas projects on behalf of the Chinese government. For that reason, analysts see the strategic importance of the company and the bond price should reflect that. BOC International and Standard Chartered Bank are joint global coordinators, as well as joint lead managers and joint bookrunners with Barclays, Deutsche Bank, HSBC and UBS. The banks had arranged a series of fixed income investor meetings in Hong Kong, Singapore and London, commencing on 24 January 2013. The Reg S offering will be issued via China Railway Resources Huitung. The deal will carry a guarantee from China Railway, with the approval for the guarantee already obtained from SAFE, the agency responsible for such guarantees in China. China Railway Group will be the first Chinese infrastructure construction company to tap the offshore market. The listco is expected to have ratings of BBB+ from both S& P and Fitch, while the notes are also projected to be BBB+. S& P views CRG as a government-related entity and sees a " high" likelihood of extraordinary support from the Chinese Government, based on the assessment that the company plays a key role in developing PRC's railway infrastructure. The company also has a key role in China's overseas infrastructure projects. CRG is the largest engineering and construction company for China's growing urban railways. S& P also notes the " very strong" link with the government. In the agency's view, the government is unlikely to dilute its ownership of CRG in the next five years. It believes the government exerts a strong influence on the company's strategy through the appointment of the board and senior management of the parent company. The deal settles on February 5 and final maturity is on the same date in 2023. |
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Peter_Pan
Supreme |
30-Jan-2013 10:47
Yells: "did you order dunkin' donuts" |
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Don't miss the train woh...
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Peter_Pan
Supreme |
30-Jan-2013 10:07
Yells: "did you order dunkin' donuts" |
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For info:30-01-2013 09:15:53 PRICED: China Railway USD500m at 99.786, 3.876%Y, T+190 SINGAPORE, Jan 30 (IFR) - State-owned China Railway has priced its USD500m 10-year Reg S only bond at 99.786 to yield 3.876% on a 3.85% coupon, or 190bp over the 10-year US Treasury. That was at the tight end of final guidance of T+195bp area and 30bp tight to initial price talk of 220bp over. The deal settles on February 5 and final maturity is on the same date in 2023. The bonds were issued under English Law and will be listed in the Hong Kong Exchange. The issuer is China Railway Resources Huitung Ltd and China Railway Group Ltd is the guarantor. The transaction was 16 times oversubscribed with 350 accounts putting orders. Asia accounted for 70% of the bids while Europe came in with the rest. Fund managers and asset managers were allocated 52% of the transaction, while banks took up 21%. Insurance and public sector buyers took 9%, private banking accounts 9% and corporates and other investors bought 3%. Christopher.Langner@thomsonreuters.com |
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GorgeousOng
Elite |
29-Jan-2013 23:49
Yells: "Hehehaha...enjoy life n live to the fullest..." |
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Can board the train again ? I have to quick quick buy ticket tomorrow lor!
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simply_ek
Member |
29-Jan-2013 23:03
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Noted and thanks!
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Peter_Pan
Supreme |
29-Jan-2013 19:00
Yells: "did you order dunkin' donuts" |
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Yes, it's a chart pattern. You may google to find out more. Very hard to explain here. But must also play by ear because there are also other external factors to take into considerations.
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Peter_Pan
Supreme |
29-Jan-2013 18:49
Yells: "did you order dunkin' donuts" |
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Actually the resistance at 0.57 is not as strong as you think. We have a very good chance to ride all the way towards 0.60 within 2-3 weeks time.
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simply_ek
Member |
29-Jan-2013 17:38
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Hi Peter, I noticed you use this term alot... is this a chart pattern? my observation is that we're entering another period of consolidation with strong support at 0.555 before there is a big move to test 0.6. May I have your views?
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NICHOLASCHUA
Member |
29-Jan-2013 17:29
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Peter Sifu, seems like the resistance at $0.570 is strong. Hopefully more contracts in time to come especially into 2014 will break that. Here's wishing a smooth ride on the train to those who vested!
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Peter_Pan
Supreme |
29-Jan-2013 16:53
Yells: "did you order dunkin' donuts" |
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Further base formation observed. | ||||
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Peter_Pan
Supreme |
29-Jan-2013 16:50
Yells: "did you order dunkin' donuts" |
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Trending towards 0.60. | ||||
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tonylim
Master |
29-Jan-2013 15:59
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It is a safe bet with more upsides to come at various stages.
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halleluyah
Elite |
29-Jan-2013 12:15
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Just board too.....if end up to nowhere also doesn't matter lah.....as long as it dun break down.
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