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CitySpring
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nickyng
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18-May-2007 09:52
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dun worry lah....temasek holding is into this burger....give it time it will fly...hv some faith can or not? :P |
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bwayne
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18-May-2007 09:10
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From Cityspring website http://www.cityspring.com.sg/relations/finance_info.php CitySpring Summary Pro Forma Balance Sheet As at 31 March 2006 ('000s) Intangibles 133,100 Goodwill 294,476 Total assets 801,619 Total liabilities 400,310 Net assets 401,309 Wonder what is the Net Tangible Asset? |
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EastonBay
Master |
17-May-2007 21:43
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just wondering: if Citispring Px ever goes below 89c, the IPO price, is the management co. ever going to cough out any money to make up for the loss? So, head they win and tail you lose, as one forumer said earlier. over $1m a day for the management co. is really too much. toto gives out only $300k twice per week. Besides, since they are all the so-and-so, could easily gang up to drive the price up wat... before the -cut-off date every qtr, for huge return in terms of mgt fee. |
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casper
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17-May-2007 21:07
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Total returns, of course, include any capital gains. CitySpring's units were priced at 89 cents each for its IPO. The price soared 66 per cent on the first day, closing at $1.48. Seven weeks later, the price ended at $1.49 on March 30. This, coupled with a 4.5 per cent fall in the benchmark index over the period, meant the units were deemed to have outperformed the benchmark by 74.3 per cent, triggering the huge performance fee payout. so in order cityspring to be profitable, the share price must go down very low????
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junction
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17-May-2007 20:52
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What sort of company is this? Not making much and a big portion goes to management at the expense of shareholders. SGX should investigate the directors and managers. | ||||||||||
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casper
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17-May-2007 19:40
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http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_B92EF1E2DD38A961482572DC00134760/$file/CitySpring_letter_BT_16May.pdf?openelement wat's he talking? losses is too much just for management fees , cant understand. anybody care to explain. |
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moneynoenough
Member |
17-May-2007 17:20
Yells: "ikan bilis " |
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fund mgrs pushing price performance up to rip another windfall for this coming quarter again? |
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ViperSTI
Member |
17-May-2007 11:19
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I second that too. Just look at the volume. Someone is manipulating this counter. Perhaps the big boys are making plans to dump out their shares? Just my thoughts. | ||||||||||
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rogue_trader
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17-May-2007 10:50
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too dangerous to enter positions for CS now... "Manipulators at large now"... Look at the trend for the past few days despite negative news and one should understand. |
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nickyng
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17-May-2007 10:43
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wow...CS cheonging siah....anyone contra ? thk worth a SHORT ??!??! hee... | ||||||||||
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knightrider
Elite |
16-May-2007 16:06
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See their investment strategy : Also tikam tikam, kena eat up 50% in Thailand. You trust your investment in this counter. Zhi Zee Bao Chong (in Chinese) !!! | ||||||||||
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knightrider
Elite |
16-May-2007 16:02
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This news is interesting : Just received ! SINGAPORE, May 16 (Reuters) - Singapore state investor Temasek Holdings [TEM.UL] said on Wednesday it has set up a S$500 million ($330 million) trust to fund education, healthcare and disaster relief in Asia. The new foundation could help improve Temasek's image in markets where it is expanding aggressively. The state investor -- headed by Ho Ching, the wife of Singapore Prime Minister Lee Hsien Loong -- has increasingly come under attack in Asia over its investment strategy. A Temasek-led, $3.8 billion bet on Thai telecoms firm Shin Corp. (SHIN.BK: Quote, Profile , Research) sparked a prolonged political crisis in Bangkok, and has almost halved in value. Temasek said the trust also aimed to promote better governance and government regulation. Temasek has bought stakes in several financial institutions across Asia, including banks in China, South Korea, Pakistan and Indonesia. Emerging Asia has become a big focus for Temasek, which manages about $80 billion in assets, as it tries to boost investment returns. Its largest financial holdings include an 11.55 percent stake in Standard Chartered Bank (STAN.L: Quote, Profile , Research), according to its website. Temasek said in a statement this month that its Fullerton Financial unit owns 5.88 percent of China Construction Bank (0939.HK: Quote, Profile , Research), 4.64 percent of Bank of China (601988.SS: Quote, Profile , Research) (3988.HK: Quote, Profile , Research), 9.62 percent of South Korea's Hana Financial Holdings (086790.KS: Quote, Profile , Research), and 7.78 percent of India's ICICI Bank (ICBK.BO: Quote, Profile , Research). | ||||||||||
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knightrider
Elite |
16-May-2007 09:06
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CitySpring Infrastructure May 15 close: $1.32 MORGAN STANLEY, May 15 QUICK comment: We reiterate our 'equal-weight-V' rating on CitySpring Infrastructure Trust and $1.50 price target following the release of FY07 earnings. We believe Temasek intends CitySpring to be its key platform for targeting infrastructure growth by acquisition. We have factored in a 30 per cent premium over DDM model valuation to account for acquisition potential. What's new: CitySpring reported FY07 earnings that were slightly ahead of expectation on an operating level, but there was no announcement of a new acquisition. City Gas reported profit before tax of $2.1 million, in line with our expectation. SingSpring reported profit before tax of $11.8 million, higher than our expectation of $4.0 million, primarily due to $3.8 million of negative goodwill and $3.4 million of fair value gains on derivatives. CitySpring also announced a distribution of 0.78 cent per security, which was in line with projections at the time of listing. What we liked: Group revenue was higher than company projections; group operating expenses were lower than our expectation; and retained guidance for FY08 distribution of six cents from the existing assets. What we didn't like: No new deal announcement, potentially not meeting market expectations. Implications: As there was no announcement of a new acquisition, we expect the stock may be a little weaker. However, we believe that the acquisition premium should be retained, given the importance of CitySpring to Temasek and positive comments by the management on deal pipeline. Should the stock fall further, there may be a buying opportunity for investors. Valuation: The stock is yielding 4.3 per cent, in line with Singapore Reits and other infrastructure trusts. EQUAL WEIGHT | ||||||||||
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Andrew
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15-May-2007 23:56
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I sold that on the very first day of trade.....only start trade at the afternoon session. The PE is 126 years to make 686M. WOW..... | ||||||||||
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battledome64
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15-May-2007 23:30
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dude what does minor shareholder have to lose? The stock can go to 0 cents and it's not as painful for those BBs that invested heavily in this. Minor shareholder can afford to wait till the sheeps jump over the rainbow. lol... If it goes to 0 cents just treat it like a donation to the government. I feel happy |
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koh_52
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15-May-2007 23:14
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When is their AGM,? me going to bring a group of 'ah pek' kakie to kow pai, KELONG. It dun make sense to peg Management fee with stock price, of which sometimes is possible to control by the fund manager. How to play this type of share, price go-up die mgt fee get big-cut. Price go-down also die loose money. Conclusion, minor shareholder guaranteed loss money if you bot this counter. 'SHORT' the buger until it below 0.90 cents, teach them a lesson |
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nickyng
Supreme |
15-May-2007 15:41
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gosh....all in RED but this CS joker is in GREEN!!! wow...u never know a dog will has its day :)))) SHORT?? hee... | ||||||||||
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rogue_trader
Master |
15-May-2007 14:23
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Despite the fees issues, there still quite strong "support" for this counter. Was tempted to short it thru CFD, but on second thoughts, chickened out. Not as brave as nickyng... Mostly long positions taken by supporters... Contra also a bit risky.. | ||||||||||
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TonyGan
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15-May-2007 14:14
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how can management mis estimate the management fees? greatest con indeed. | ||||||||||
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rogue_trader
Master |
15-May-2007 13:26
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6 cents dividend? Not very attractive yield as compared to REITs yield and the current pricing.. | ||||||||||
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