Support and Resistance.

Uptrend counter : For eg, Vallianz Holdings (545.SI).

Look at the weekly chart,

Vallianz Weekly Chart

From the chart, what do you notice, all the MAs (moving averages) are on top of each other, I m using 10, 20, 40 and 100 days moving averages. From the weekly, its a clear uptrend.

From the chart, you mush be able to tell immediately wheres the support and the reistance levels, always bear this in mind, buy at support and sell at resistance.

What Is Support?

Support is the price level at which demand is thought to be strong enough to prevent the price from declining further. The logic dictates that as the price declines towards support and gets cheaper, buyers become more inclined to buy and sellers become less inclined to sell. By the time the price reaches the support level, it is believed that demand will overcome supply and prevent the price from falling below support.

From the above chart, a good support level is at 9.7, and in TA, always remembe 1 thing, once reistance broken it will turn into a support. Hence you will normally hear such phrase as, resistance turns support and support turns into resistance.

What Is Resistance?

Resistance is the price level at which selling is thought to be strong enough to prevent the price from rising further. The logic dictates that as the price advances towards resistance, sellers become more inclined to sell and buyers become less inclined to buy. By the time the price reaches the resistance level, it is believed that supply will overcome demand and prevent the price from rising above resistance. 

One thing to note, different chartist interpret resistance and support levels differently.

The theoritcal price of oceanus.

Reuters - Kohlberg Kravis Roberts & Co is in talks to buy Singapore-listed abalone farmer Oceanus Group Ltd in a deal that may be worth around $500 million, three sources with direct knowledge of the matter told Reuters.

Private equity firm KKR has lined up financing of $300-400 million from a group of banks, according to one of the sources.

KKR and Oceanus declined to comment. (Reporting by Charmian Kok and Stephen Aldred; Editing by Denny Thomas and Muralikumar Anantharaman)

The above is the news and my take is:

Oceanus have outstanding shares of 1.98 Billion shares, so based upon US$500 Million take over price, that works out to be US25 cents per share, exchange rate of 1.25, 31.25 sing cents will be the theoritical takeover bid.

Asian markets fell sharply

TOKYO - ASIAN shares fell sharply on Tuesday, battered by ongoing unrest in the Middle East, an earthquake in New Zealand and a downgrade of Japan's credit rating outlook.
Oil prices, meanwhile, soared to near US$93 (S$121) a barrel on Tuesday in Asia as Libyan leader Muammar Gadhafi struggled to keep power of the Opec nation amid violent protests.
The Nikkei 225 stock average shed almost 2 per cent to 10,646.22, Hong Kong's Hang Seng index lost 1.7 per cent to 23,084.92, and South Korea's Kospi was down 2.1 per cent at 1,964.07.
Japan's ability to tackle its massive debt came under scrutiny after Moody's Investors Service downgraded its outlook for Japan's credit rating. The rating agency on Tuesday changed its outlook for Japan's Aa2 rating from stable to negative.
Stock markets in Taiwan, Singapore and mainland China also retreated. New Zealand's benchmark lost 0.9 per cent to 3,351.14 after a powerful earthquake hit the city of Christchurch.
In currency markets, the dollar rose slightly to 83.16 yen. The euro was down at $1.3608 from $1.3645. -- AP

Afterall not all dual listings are bed of roses.

Shares of Singapore-listed fabric maker China Gaoxian (CGXF.SI) dropped as much as 14.8% on Tuesday to over a three-week low after its Korean depository receipts (KDR) fell on their first trading day.

At 10:11 a.m., shares of China Gaoxian were 13.6% down at $0.38 with over 38 million shares changing hands.

China Gaoxian’s KDR (950070.KS) fell as low as 5,360 won a piece, compared with an offer price of 7,000 won.

“Fabric makers are currently facing some margin squeeze. So, their KDR pricing looks unattractive to some investors,” said a local trader.

KepLand's FY2010 net profit crosses S$1b, plans special dividend

By ANGELA TAN

Keppel Land, the property arm of marine conglomerate Keppel Group, reported on Monday net profit for the fourth quarter ended December 31, 2010 rose 687 per cent to S$841.01 million, compared to S$106.85 million a year ago.

This is despite a 6.3 per cent slip in sales for the quarter to S$281.46 million.

For the full year 2010, net profit grew by 273 per cent to S$1.05 billion, lifted mainly by a S$363.8 million gain from the sale of the Group's one-third interest in Marina Bay Financial Centre Phase 1 as well as higher fair value gain on investment properties.

Excluding fair value gain on investment properties/impairment, net profit grew to S$640.8 million, up by 145.2 per cent compared to 2009.

Sales for the year slipped 14.2 per cent to S$792.27 million.

The company is recommending a distribution of 18 cents per share, comprising a special dividend of 9 cents per share and an ordinary dividend of 9 cents per share.

UOL pays $313m for Lion City Hotel, former Hollywood Theatre

By KALPANA RASHIWALA

(SINGAPORE) UOL Group has trumped five other contenders to bag the Lion City Hotel and adjoining former Hollywood Theatre site for $313 million.

The unit land price for the Tanjong Katong-Geylang Road area properties, with a total freehold land area of 147,909 square feet, works out to $779 per square foot (psf) of potential gross floor area inclusive of estimated development charges of $77.8 million, assuming UOL embarks on a mixed commercial and residential project with an average plot ratio of 3.39.

Based on an alternative scheme for a residential project with commercial space on the first storey with a 3.0 plot ratio, the unit land price would work out to about $871 psf per plot ratio.
The property was sold through a tender exercise which closed yesterday, attracting strong interest from six major developers, said Landmark Property Advisers and Knight Frank, which handled the sale.
UOL noted that the property is near the existing Paya Lebar MRT interchange station for the East-West and Circle lines. 'Based on the current allowable development options, the property may be redeveloped as a commercial-cum-residential development. The company will continue to assess the current allowable development options and other factors to determine the final development scheme for the property.'

Given its location, the future redevelopment of the property is expected to benefit from the nearby Paya Lebar Central commercial hub planned by the Urban Redevelopment Authority, UOL said. Lion City Hotel and the former Hollywood Theatre are being sold by the family of the late property magnate Wee Thiam Siew. The hotel was built in 1968 and the Wee family has been operating it.

The theatre stopped screening films in the 1990s and is today home to a food centre and a Sheng Siong supermarket.

In November, Shaw Brothers sold the former Singapura Theatre site at No 55 Changi Road to a consortium that includes Roxy-Pacific and Macly Capital for $44.9 million.

In the same month, Far East Organization bought Paramount Hotel and Shopping Centre along East Coast Road for $214 million. Far East is expected to keep the freehold asset as an investment property for recurring income although refurbishment is likely to be on the cards.

Policies to cool property market

Singapore raised down payment requirements for second mortgages and boosted sales taxes to curb property speculation, sending shares of the city’s biggest developers down the most in at least 11 months.

Individuals with more than one mortgage can borrow up to 60% of a property’s value, down from 70%, while the stamp duty on homes and land sold within one year will rise more than fivefold, the government said in a statement yesterday.

CapitaLand and City Developments fell more than 3%  on concern the government’s intensified efforts to cool record home prices will dent sales. Singapore follows Hong Kong in raising sales taxes and loan restrictions as economies across Asia seek to damp the threat of asset bubbles caused by capital inflows and low interest rates.

“The government is erring on the side of caution,” said Donald Han, Singapore-based managing director at Cushman & Wakefield, the world’s largest closely held real estate services company. “We need to monitor this because history has shown that some of these measures lasted only two to three months, and the market comes right back to full life again.”

Singapore private home prices climbed to a record as the nation’s fastest economic growth since independence in 1965 overwhelmed government measures to cool the market. Attempts to rein in prices started in 2009 when interest-only loans for some housing projects were barred and developers were barred from covering interest payments for apartments still being built.

STOCKS SLIDE

Singapore’s Straits Times Real Estate Index fell as much as 1.5%t, with 27 index members out of 38 falling as of 10:23 a.m. local time. CapitaLand, Southeast Asia’s biggest developer, declined as much as 3.9%  and was 3.1%  lower at $3.72, the biggest decline since February 2010. City Developments declined as much as 5.2%   and recently fell 4.1% lower at $12.22, the most since October.

Singapore joins markets across Asia that added measures to curb property speculation driven by low interest rates. Singapore’s three-month interbank rate fell to 0.43751% on Jan. 3, the lowest since Bloomberg began compiling the data in 1999. It was at 0.43779% yesterday.

Hong Kong imposed additional taxes and higher down payments in November after home prices climbed more than 50% since the beginning of 2009. China, battling at least 18 months of price increases, suspended third mortgages and raised interest rates for the first time in three years.

Singapore’s homeowners who sell a property within a year of purchase will now have to pay a tax of 16%, from 3% before. That drops to 12% in the second year, 8% in the third, and 4% in the final year. The government also said it will take further steps if necessary.

BUOYANT SENTIMENT

On loans to entities other than individuals, the loan cap will be reduced to 50% from 60%.

While Singapore’s private home prices climbed 2.7% to a record in the fourth quarter from the previous three months, the increase was the smallest in six quarters, government data showed. Han said he expects the gain in home prices to cap at 5% this year with the latest curbs, from an earlier estimate of as much as 12%.

“Previous government measures have to some extent moderated the market, but sentiments remain buoyant,” according to the statement yesterday. “The government has decided to introduce additional targeted measures to cool the property market and encourage greater financial prudence.”

“The seller’s stamp duty rates will be increased sharply so as to provide a strong disincentive for investors looking to make short term gains,” the government said. The seller’s stamp duty is payable regardless whether the property is sold at a gain or loss, it added.

CAUGHT BY SURPRISE

Singapore in February last year said it will levy a seller’s stamp duty on all residential properties and land that are sold within one year from the date of purchase. That was increased to three years in August, when the government also raised down payments for second mortgages.

“This new round of cooling measures will adversely affect sentiment in the property market in the coming months,” said Nicholas Mak, an executive director at SLP International Property Consultants in Singapore. “They could also catch many investors who had bought residential properties in the last two years by surprise. Some of the buyers could be investors who are banking on rising property prices to make a quick profit.”

Private residential sales in November rose the most in seven months. Property transactions reached an unprecedented level in the first 11 months of 2010 as developers sold 15,025 properties, according to preliminary data from the government. That exceeded the high of 14,811 homes in 2007.

“December sales would be as aggressive as the November numbers,” Han said. “The tide is coming onto the shores of places like Singapore, China and Hong Kong, and it’s hard to stop the tide with low interest rates. The only way is to pump in regular measures like what we’ve seen.”

Wilmar down 3%; Losing focus: Analysts

Written by The Edge

Wednesday, 22 December 2010 10:28

Wilmar (F34.SG) is down 3% at a 6-month low of $5.74 on concerns the group may be losing its focus as it ventures into property development in China with Kerry Properties (0683.HK) and Shangri-la Asia (0069.HK). OSK, which has a Buy call with a $7.35 target, says while the project in Liaoning’s Yingkou City would be profitable given the expertise of Wilmar’s partners, “this could mark the start of Wilmar’s loss of business focus and corporate discipline.”

Wilmar (F34.SG) is down 3% at a 6-month low of $5.74 on concerns the group may be losing its focus as it ventures into property development in China with Kerry Properties (0683.HK) and Shangri-la Asia (0069.HK).

OSK, which has a Buy call with a $7.35 target, says while the project in Liaoning’s Yingkou City would be profitable given the expertise of Wilmar’s partners, “this could mark the start of Wilmar’s loss of business focus and corporate discipline.”

Citigroup, which has a Hold call and a $6.76 target, expects Wilmar to bid for more sites in China. “We agree that Wilmar can leverage on its existing contacts and network, but we are not entirely comfortable with the fact that they are expanding beyond the consumer food-related business.”

The companies will jointly develop residential and commercial properties and a hotel in Yingkou. Near-term support is at $5.60 (June 30 low).

Singapore's property is white hot.

FORTUNE -- Virtually every high-end Singapore real estate agent has an anecdote about the immense wealth of Chinese clients. China's business elite is coming in flocks, they say, and buying in flocks as well. If one CEO ponies up for a $15 million abode, his buddies do the same.
The Singaporean property market has been white-hot over the past 15 months, and the island country is now vying with Hong Kong as the most buoyant market in the world. Property prices in Singapore surged 14% percent in the twelve months through September, and the high-end market has shot up even more dramatically.

This jump isn't entirely surprising, given Asia's blistering growth, fears of property bubbles in China and Hong Kong, and Singapore's transparent tax policy and regulation. In a survey published last week by PricewaterhouseCoopers and the Urban Land Institute, Singapore ranked as the best real estate destination in Asia.

Waterfront property, like the bungalows at Sentosa Cove, the city's beach area where foreigners can buy property, is relatively new to Singapore's upscale market and is particularly sought after. One Sentosa bungalow sold to a Chinese national for $26 million last summer. Developers are now scrambling to go above and beyond adding features like private elevators, club memberships, and chefs-on-demand. Some residences near the prestigious Orchard Road shopping district boast invite-only buildings.
The booming market isn't going unnoticed by Westerners, either. Although property restrictions prevent foreigners from buying property in certain parts of the city, corporations and investment funds, wanting a greater presence in the Asian-Pacific market, are snapping up more units. According to DTZ, a research consultancy, companies buying units in bulk increased from 2% to 3% in the third quarter.
The crème de la crème of the market is the so-called "Good Class Bungalows," or GCBs, a term coined by the government to designate properties with no less than 15,000 square feet of land, a true luxury in land-scarce Singapore. There are only about 2,500 in total -- and they are being snapped up at both a torrid rate and at jaw-dropping prices. Sales of 54 GCBs in the first half of the year averaged nearly $15 million apiece.

Lavish living, lavish profits

Developers, as one might expect, have enjoyed heady profits. SC Global, a niche developer of properties for the super rich (the company is famous for The Marq, a high rise where each apartment boasts its own 15m lap pool), posted a six-fold jump in net profit to $33.4 million for the third quarter from a year ago. The Far East Organization, the largest private property developer in Singapore, announced plans in June to launch Inessence, a new "ultra luxury development arm."
Designers, too, are trying to position themselves in front of the wave. International architects and designer products are high on the list of must-haves. Space, a high-end furniture retailer known for its European brands, announced in August its plan for a Singapore flagship store to open next year. The company says the increase in luxury properties in the city-state has made for a lucrative dynamic.
The question on everybody's mind is how long the property gold rush will last. Singapore's boomtown went bust after the Asian Financial Crisis in 1997, and saw a major collapse in housing prices during the recent global financial crisis, after residential property prices rose 60% between 2005 and the middle of 2008. The growth of the Asian tigers is expected to moderate in 2011, and some insiders say they're already seeing a slow-down in the luxury market.
Regulation, too, could play a role cooling the market. Soaring prices are not good for local politics, and the property market is becoming the battleground for critics of the Singaporean government.
Since September 2009, the government has introduced three rounds of cooling measures, including new taxes and higher up-front cash requirements, mainly aimed at preventing speculation in the low to mid-level market. On November 25, it announced a large land sale to the private sector to further temper prices, suggesting that a fourth round of cooling measures might be on the horizon.
These measures may well have teeth, but so far they've had little effect in slowing down the housing boom. Sheer demographics strike a chord of caution for anyone considering betting against Singaporean property. Singapore's competitive advantage is that it strives to attract foreign talent. The government says that by 2015, it hopes to bring the percentage of foreigners above 35%, where it stands today.

With such scarce land, slow growth in the West, and Asia's rich getting richer and more numerous, the strategy of many Singaporean high-end real estate firms may hold up. 

Pacific Andes up on Tassal stake buy

Shares of Pacific Andes Resources Development <PACF.SI>, a Singapore-listed frozen fish supplier, rose as much as 2.9% on Thursday after it bought a 19.76% stake in Australian salmon farmer Tassal Group <TGR.AX> for A$51.7 million ($66.9 million).

At 11:31 a.m., Pacific Andes shares were up 1.5% at $0.345 on a volume of 3.9 million shares.

"Investors may see it as a good move because they are increasing their exposure to the fishing area and diversifying away from their existing business, as well as their reliance on(subsidiary) China Fishery,” a local analyst said.

Pacific Andes acquired 28.9 million shares in Tassal at A$1.79 each, which will be funded entirely by internal resources, the firm said in a statement.

“We view this deal positively as it offers a complementary fit into PARD’s current operations,” OCBC Investment Research said in a report.”

“Consumption of seafood is still on an uptrend and this transaction will aid its positioning in this sector in the coming years,” OCBC added.

The brokerage has a “buy” rating on Pacific Andes and a target price of $0.40.

Exec condo surprises with DPS option

Business Times - 01 Dec 2010 By EMILYN YAP (SINGAPORE) NTUC Choice Homes Co-operative (NCH) and Chip Eng Seng (CES) are launching an executive condominium (EC) project in Punggol with a surprising feature - a deferred payment scheme (DPS). Many in the property industry had assumed that the DPS was entirely scrapped in the boom year of 2007 to curb speculation. The two developers' move could trigger owners of other EC projects to also offer DPS. NCH and CES are behind the 99-year-leasehold Prive, the first EC to come up in Punggol. The site is at the junction of Punggol Field and Punggol Road, and average selling prices will be between $660 and $690 per square foot (psf). There will be 680 apartments ranging from two to four-bedders, located across four 17-storey towers. The developers bought the plot from the government in June this year. The developers will open the sales gallery on Dec 3 and allow viewings and applications up until Dec 7. Bookings will start on Dec 10 and home seekers have to gain entry to the gallery that day through a ballot. Buyers can finance their homes through a normal payment scheme (NPS) or the DPS. Under the DPS, they need to pay only a 5 per cent booking fee and 15 per cent of the purchase price. They will not need to make further payments until the development obtains its Temporary Occupation Permit. Developers of two earlier EC projects - Esparina Residences and The Canopy - did not offer DPS. Several developers and consultants whom BT spoke to were surprised to learn that DPS was allowed for EC projects. In October 2007, the government withdrew DPS for the sale of uncompleted private residential, commercial and industrial properties. The news release made no mention of ECs then. Some industry players seem to have assumed that DPS was also disallowed for ECs. After all, ECs are seen as a hybrid of public and private housing. They have facilities comparable to private condominiums but carry public housing restrictions which are lifted only after 10 years. Few might have thought of clarifying the rule change with the authorities, since the last EC launch happened some time back in May 2005. Following some checks yesterday, BT understands that the withdrawal of DPS in 2007 did not apply to ECs. Some in the industry could have been 'a little presumptuous', said one developer who declined to be named. Also, EC buyers have to fulfil a minimum occupation period of five years. This means that speculation would be minimal to begin with. Knight Frank chairman Tan Tiong Cheng said it is possible that other EC developers will follow suit to offer DPS, now that they are aware of the option. MCC Land is currently exploring the viability of offering both DPS and NPS for The Canopy. It has sold 190 out of 406 units at an average price of around $590 psf. United Engineers is also working towards offering DPS for its upcoming EC project, Austville Residences. It could launch the site this month or next. Response to ECs has been warm this year. Frasers Centrepoint has sold 508 out of 573 units at Esparina Residences, at an average price of $740 psf. DMG & Partners analyst Brandon Lee expects to see good take-up for Prive as it is just a few minutes' walk from Punggol MRT station.     Copyright © 2010 Singapore Press Holdings Ltd. All rights reserved.

Singapore banks advance; Prospects sound: Citi

Singapore banks bucking declines by most other local blue chips, likely supported by fresh official data showing improvement in October bank lending.

According to central bank MAS, overall lending +13.8% on-year, +1.3% on-month at $313.26 billion, with housing loans remaining key driver. OCBC (O39.SG) +1.5% at $9.77, UOB (U11.SG) +0.1% at $18.52, DBS (D05.SG) flat at $13.92 vs STI off 0.3%.
Still, stocks continue to trail broader market year to date as pressure on net interest margins persists due to low interest rates.

But Citigroup says underperformance not warranted; “we view that recently soft net interest margins are close to bottoming and a recovery in business lending should compensate for a peaking of mortgage growth.”

SSE dives 3%

Amidst concerns of possible rate rise in China and debts default beyond Greece and Ireland.

Asian market all follow suits.

GLP - Earnings

Global Logistic Properties, the market leader in modern logistics facilities in two of Asia’s largest economies, China and Japan, says it posted US$85.4 million ($112.7 million) in net profit in 2Q FY2011 ending Sept 30, 2010, representing a more than two-fold increase from the US$27.0 million reported in the corresponding quarter last year (2Q FY2010). Revenue rose 13.5% to US$113.3 million in 2Q FY2011, from US$99.8 million in 2Q FY2010.

For 1H FY2011 ending Sept 30, 2010, GLP registered a bottom line growth with net profit of US$573.4 million (inclusive of a revaluation gain of US$427.6 million), compared to a loss of US$1.8 million in the year-ago period (1H FY2010). Revenue increased by 14.3% to US$224.2 million in 1H FY2011 from US$196.2 million in 1H FY2010.

Foxconn Tech sues Creative

Written by Bloomberg

Monday, 29 November 2010 15:42

Foxconn Technology Group’s Singapore unit has sued Creative Technology for failing to pay $500,576 ($659,208) for supplies and services that Foxconn, the world’s biggest contract manufacturer of electronics, said it provided. Foxconn Singapore said Creative, the maker of the Zen music player and Ziio tablet computer, repeatedly failed to make payment and didn’t give any “substantive” reason for its refusal, according to a Sept. 8 lawsuit filed with the Singapore High Court. A hearing is scheduled for Dec. 3

Foxconn Singapore sues Creative Technology for $659,208 payment

CIMB raises Pacific Andes' target.

CIMB raises Pacific Andes Resources Development (P11.SG) target to $0.50 from $0.36, maintains Outperform call.

CIMB says 4Q10 core net profit of HK$110 million ($18.6 million) (down 8% on-year) was below expectations, forming 14% of FY10 estimate, FY10 core net profit of HK$771 million (+8% on-year) made up 96% of FY10 estimate.
“The variance came from lower SCM selling prices, and lower-than-forecast trawling revenue and fishmeal sales volume.”

However, raises FY11-12 EPS estimates by 2%-3% on higher profit assumptions for China Fishery (B0Z.SG). SOTP target raised following higher target for CFG ($2.55 from $1.75).

“We continue to expect catalysts from announcements of earnings-accretive expansion/acquisitions at CFG.” Shares flat at $0.335.

Refer to SGX for their latest financial statements,

NAV is about 45 sing cents, at current share price its trading at a discount to its NAV. Pac Andes is trading at 0.73 p/b v.

Dividends : 1.38 cts (sing) per share. current dividend yield of 4.18 %.

Its dirt cheap at current price, this is the one that befits the theme of this blog, i m accumulating this counter should there be any further price weaknessess.

Singapore says low rates may spur property market.

The central bank said low borrowing costs and excess liquidity globally may push the island’s property prices higher again, setting back government efforts to cool the market.

There is a risk that financial institutions may ease lending standards and extend more loans to make up for narrowing interest margins, the Monetary Authority of Singapore said in its Financial Stability Review today. Buyers may also take on “excessive leverage” amid expectations of a sustained period of low rates, the central bank said.

The government in August increased down payments for second mortgages and imposed a stamp duty on property held for less than three years to curb speculation. After leading 36 markets around the world in property-value changes in the second quarter in a Global Property Guide survey, government statistics showed price gains slowed in the three months to the end of September.

 

“There is a possibility that transaction activity and prices could pick up again given the current global conditions of flush liquidity and low interest rates,” the central bank said. “The government will continue to be vigilant in monitoring developments in the property market, and if necessary, adopt additional measures to promote a sustainable property market.”

 

Private residential prices rose 2.9% in the third quarter from the previous three months, when they climbed 5.3%, according to Urban Redevelopment Authority. Singapore’s government forecasts economic growth of 15% this year and expansion of 4% to 6% in 2011.

 

‘ESCALATING PRICES’

“As the property market is sentiment-sensitive, a pick-up in activity could lead to rapidly escalating prices,” the central bank said. “If economic recovery disappoints on the downside amidst continued uncertainties in the global economy and market confidence is dented, prices could fall. On the other hand, if the economic recovery continues apace, there could be widespread implications on buyers who overextended themselves when interest rates eventually rise.”

 

Asian markets including China, Hong Kong and Taiwan introduced measures including higher down payments on loans this year to cool their property markets amid concerns that asset bubbles are forming as home prices surge.

 

Hong Kong intensified its yearlong battle to curb prices with additional taxes last week, while Ba Shusong, a top Chinese cabinet researcher, said in a commentary in China Business News today that tougher property measures are needed in the country.

Informatics - Something is brewing?

No. Name No. Of Shares Held %
1 CIMB SECURITIES (SINGAPORE) PTE LTD 426,198,062 33.93
2 UOB KAY HIAN PTE LTD 51,974,750 4.14
3 WONG TAI 32,265,304 2.57
4 UNITED OVERSEAS BANK NOMINEES PTE LTD 25,918,565 2.06
5 DBS NOMINEES PTE LTD 23,356,688 1.86
6 CHEAH HON KUEN 19,825,616 1.58
7 PHILLIP SECURITIES PTE LTD 17,655,622 1.40
8 CHEONG SENG PEOW PETER 15,108,000 1.20
9 HSBC (SINGAPORE) NOMINEES PTE LTD 14,297,500 1.14
10 OCBC SECURITIES PRIVATE LTD 13,816,250 1.10
11 CHENG YIN MUI OR HO SING MING 13,387,500 1.06
12 OCBC NOMINEES SINGAPORE PRIVATE LIMITED 12,959,250 1.03
13 RAFFLES NOMINEES (PTE) LTD 12,502,000 0.99
14 SEOW HOCK HIN (XIAO FUXING) 11,546,000 0.92
15 NOMURA SINGAPORE LIMITED 10,040,000 0.80
16 HT MAGWAY PTE LTD 8,119,000 0.65
17 DBS VICKERS SECURITIES (SINGAPORE) PTE LTD 6,873,000 0.55
18 MANNA INVESTMENTS PTE LTD 5,375,000 0.43
19 ONG BOON KHENG 5,153,500 0.41
20 YAP SWEE LUM @ SEW BEE LAM 5,000,000 0.40
Total : 731,371,607 58.22

From the above you can see clearly that the top 20 shareholders already constitute about 58% of the total shareholdings of informat.

The latest filing by Kestrel capital, an investment holding company controls by Peter Lim Eng Hock has just upped his stake from:

1. Date of change of Interest 19-11-2010


2. The change in the percentage level From 17.62 % To 22.01 %


3. Circumstance(s) giving rise to the interest or change in interest # Others
# Please specify details Exercise of warrants by Kestrel Capital Partners Pte Ltd.

Lets take a look at past 1 year's Substantial shareholders/directors transaction. For Substantial shareholders (SSH) meaning holding more than 5% of the company's issued share capital, any transaction, it is mandatory to file the report with SGX.

On 28/4/2010, Berjaya Group increases its existing stake from 33.44% to 34.16%, presumably this is the conversion of warrants to mother shares.


In a nutshell, the berjaya group, Peter Lim's kestrel Capital and the top 19 SSHs control about 81 % of Informatics total shareholdings which is about 1.05 Billion shares.

The free float stands at 260 Million shares.

You draw your own conclusion, i m anticipating a bidding war by Berjaya group and Kestrel, which is controlled by Peter Lim.

Good luck.

SEAVI Advent acquires 4.22% stake in Hu An Cable for $11.8m

Written by The Edge

Thursday, 18 November 2010 21:44

Mainboard-listed Hu An Cable Holdings, one of the top 10 wire and cable manufacturers in China, says institutional investor SEAVI Advent purchased a 4.22% stake, or 28 million ordinary shares, the company from Goka Limited for about $11.8 million. The offer price of $0.42 per share represents a 10.5% premium over the closing trade price of $0.38 per share on 15 November 2010. After the purchase, Goka’s stake in Hu An Cable is reduced to 19.56%. Goka is a company wholly-owned by Yeung Wai Wing, a non-executive board member and substantial shareholder of the group. SEAVI Advent is the Asian Affiliate of Advent International, a global private equity investment group that has raised more than US$26 billion in cumulative capital and invested in over 500 companies in 39 countries. Some of its prominent investments include Venture Corporation and Yangzijiang Shipbuilding (Holdings).

OCBC pips DBS as No1 bank in S-E Asia

Its market cap surges to $34.2b, $1.7b more than DBS's $32.5b

By SIOW LI SEN

OCBC Bank has overtaken DBS as the largest bank in South-east Asia in terms of market capitalisation, as analysts rerated the stock following its strong third-quarter results. Yesterday, OCBC continued its juggernaut run, ending 31 cents higher at $10.24, giving it a market capitalisation of $34.2 billion, $1.7 billion more than DBS's $32.5 billion. It is $5.3 billion ahead of United Overseas Bank's market cap of $28.9 billion.
Interestingly, OCBC had been trailing UOB - until August. By Sept 15, its market cap had became decisively bigger to claim the No 2 position. OCBC has left DBS in its dust since Monday as investors charge into the stock after analysts noted that the bank had posted the best operating results.

OCBC's stock price is now up 12.5 per cent year-to- date while DBS's and UOB's are in negative territory, down 8.6 per cent and 6.1 per cent respectively.
In a Nov 10 note, Nomura said that OCBC chief executive David Conner spent three days meeting clients in the UK last week, to an overwhelmingly positive response.
'Solid Q3 results were a peer-differentiating tailwind that allowed David to focus on the qualitative element underpinning the success in deepening the group's Asean platform such that OCBC is now the fastest growing, most product-diversified Sing banking group, the largest, most profitable foreign bank in Malaysia and a top 10 bank in Indonesia.'
It also has the 'fastest growing loan book and fee income, (both quarter-on-quarter and year-on-year) and most products - commercial bank, investment bank, life insurance and private banking', said Nomura analyst Anand Pathmakanthan.
DBS and UOB also reported better-than-expected Q3 results but analysts say that they are impressed with OCBC's management which has shown that it can deliver. 'In our view, the stars are aligned for OCBC's share price to be rerated further,' said Ng Wee Siang, BNP Paribas analyst. Earlier concern over its acquisition of ING Asia Private Bank has dissipated and the much feared staff exodus proved unfounded, he said. The acquisition has actually bulked up its private banking business and filled in the product gaps, putting OCBC in an enviable position to better compete with larger peers.

Genting Singapore off 6.1%; 3Q10 below view: Morgan Stanley

Genting Singapore (G13.SG) gaps down at open, last off 6.1% at 2-week low of $2.14, as sequential fall in 3Q10 earnings dampens expectations for continued robust growth, says Dow Jones.

“Genting Singapore reported earnings and EBITDA lower than expectations,” says Morgan Stanley, which has Equalweight call with $2.00 target. Net profit at $187.8 million vs 2Q10’s $396.5 million, while EBITDA at $346.5 million vs $513.9 million.

“While we maintain our long-term positive view of the Singapore gaming market’s growth prospects, especially with the potential introduction of junket operators, the growth is likely to be gradual,” says JPMorgan; downgrades to Neutral from Overweight but ups target to $2.00 from $1.55 after rolling over valuation.

Bounce off early low of $2.07 suggests downside from current levels limited.

KREUZ REPORTS 6.0% INCREASE IN REVENUE TO US$13.6 MILLION IN 3Q

- Gross profit margin doubles to 34.9%
- Strong order book of approximately US$115 million
Singapore, November 11, 2010 – Newly-listed Kreuz Holdings Limited (“Kreuz Holdings”, “Company”, or together with its subsidiaries, the “Group”), a subsea solutions provider for the oil and gas industry, today reported a 6.0% increase in revenue to US$13.6 million for the three months ended September 30, 2010 (“3QFY2010”) from US$12.8 million for the three months ended September 30, 2009 (“3QFY2009”). Profit attributable to equity holders of the Company increased marginally by 1.2% to US$0.9 million in 3QFY2010.
In terms of revenue by customers, contributions from related companies comprised 43.7% of revenue and third-party customers made up the remaining 56.3% in 3QFY2010.
Mr Kurush Contractor, Executive Director and CEO of Kreuz Holdings, said: “I am heartened by the steady progress the Group has made since our listing in July this year. We have a strong order book of approximately US$115 million, in addition to leveraging on the expertise of our management team as well as strong relationship with end-customers, we have been actively bidding for new projects to further strengthen our track record in the field.

"Tapping on the positive trend of the oil and gas industry, we will look out for viable opportunities for growth. By maintaining a high standard of operational excellence and quality and cost effective services, we seek to further develop the Group’s penetration into our existing markets in Asia Pacific and India, as well as explore opportunities in emerging markets like the Middle East.”
The Group’s cost of sales declined by approximately 16.7% or US$1.7 million from US$10.6 million in 3QFY2009 to US$8.9 million in 3QFY2010. The decline in cost was due mainly to the decrease in rental of vessels and equipment as the Group now owns two work accommodation barges and a saturation diving system.
The Group’s gross profit increased by approximately 114.6% to US$4.8 million in 3QFY2010 from US$2.2 million in 3QFY2009. Correspondingly, gross profit margin increased from 17.3% in 3QFY2009 to 34.9% in 3QFY2010. This is attributed by higher gross profit margins projects in 3QFY2010.
The decrease in net profit margin by 0.8% to 9.5% in 3QFY2010 from 10.3% in 3QFY2009 was due mainly to the recognition of one-off IPO related expenses of approximately US$1.0 million in 3QFY2010. If IPO related expenses were excluded, the net profit margin would have been 15.6% for 3QFY2010.
As at September 30, 2010, the Group had cash and cash equivalents of approximately US$15.1 million.

Ezion's earnings.

3 mths ending sept 10, nett earnings up by 143.4% from 4.1M a yr ago to 9.9M.

9 mths ending sept 10, nett earnngs up by 197.9% from 11.466M to 34.162 M.

Eps increase from1.14 cts to 4.79 cts.

NAV 29 cts.

Singapore’s City Developments posts flat Q3 net profit

City Developments (CTDM.SI), Southeast Asia’s second-largest property firm, posted a 1.1% rise in third quarter net profit on Wednesday as higher income from hotels were offset by a drop in development income.

CityDev, which owns 53% of London-listed hotel operator Millennium & Copthorne (MLC.L), said its net profit rose to $195.8 million in the July-September period from $193.6 million a year ago.

The firm’s pretax earnings from property development fell to $116.1 million from $174.1 million, while pretax profit from hotel operations doubled to $74.8 million from $37.3 million.

 

CityDev’s larger rival CapitaLand reported in October its third quarter net profit fell 43% to $159.6 million, widely missing expectations as rental from shopping malls dropped and it booked less revenue from residential sales.

Yongnam posts 21% jump in 3Q net profit to $13.7m

Written by the Edge

Yongnam Holdings, the structural steel contractor and specialist civil engineering solutions provider, today reported a 20.6% jump in the group’s net profit to $13.7 million for the three months ended September 30, 2010 (3QFY2010), despite a marginal dip in revenue from $82.6 million in 3QFY2009 to $80.8 million in 3QFY2010.

This was due to higher contribution to the revenue mix from Specialist Civil Engineering which enjoyed better margins, coupled with improved margins achieved for Structural Steelworks projects. The Group achieved a gross profit of S$22.3 million in 3QFY2010, 13.5% higher than the gross profit of S$19.7 million in 3QFY2009.
With the substantial completion of the Dubai Metro by the third quarter of FY2009 and some of its projects at Marina Bay Sands Integrated Resort at the end of last year, Yongnam saw a decrease of 7.9% in revenue from Structural Steelworks, from $55.5 million in 3QFY2009 to $51.1 million in 3QFY2010. For the quarter under review, ongoing projects like Vista Xchange at One-North, Gardens by the Bay and Crystal Pavilion at the Marina Bay Sands were the key contributors to Structural Steelworks revenue.

Strong contributions from the Group’s Marina Coastal Expressway (MCE) contracts led to an increase of 9.7% in revenue from Specialist Civil Engineering, from $27.0 million to $29.7 milion during the same period.

In 3QFY2010, the group secured its first MRT Downtown Line 2 (DTL 2) contract in August 2010 for $25.0 million and in quick succession, secured another contract worth $27.5 million in September 2010. In October 2010, two additional contracts for DTL 2 worth a total of $56.5 million were secured. These bring the total DTL 2 contracts todate to $109.0 million.

Going forward, prospects for the group remain promising with a healthy pipeline of potential projects which the group is pursuing in Singapore, Middle East, India and Hong Kong.

In Singapore, potential projects include infrastructural projects like the Singapore Sports Hub, the MRT DTL Phase 3 and other commercial projects. Overseas, the group is pursuing infrastructural projects like airport terminals and MRT in addition to commercial projects.

As at September 30, 2010, Yongnam’s order book remained strong at $451 million.

ASL Marine posts 32.2% drop in 1Q earnings to $8m

ASL Marine Holdings, the integrated marine company offering services in shipbuilding, shiprepair and conversion and shipchartering, says it registered a 30.6% drop in total revenue to $81.4 million for the three months ended 30 September 2010 (1QFY2011). Net profit attributable to equity holders also fell 32.3% y-o-y to $8 million.

Shipbuilding revenue of $49.0 million in 1QFY2011 was 31% lower mainly due to lesser number of projects undertaken and comparatively lower order book. The segment’s gross margin remained stable and it was marginally higher at 9.2% in 1Q FY2011.
Revenue from shiprepair and conversion segment declined by 37.9% in 1QFY2011 to $17.4 million due to absence of larger ship conversion jobs undertaken in 1QFY2010. The segment’s gross margin declined from 22.7% to 18.2% mainly affected by continued pricing pressure.

Owing to weak demand for towing jobs, revenue from shipchartering operations was 18.1% lower at $15.0 million in 1QFY2011. The gross profit margin for this segment declined from 23.5% to 21.1% mainly due to lower charter earnings.

The group’s fleet size stood at 179 vessels as at 30 September 2010, compared to 190 vessels as at 30 September 2009.

Gross profit fell 35.2% to $10.8 million due to lower revenue recorded by all three business segments of shipbuilding, shiprepair and conversion and shipchartering.

Amidst subdued demand for new orders, the group recently secured 6 shipbuilding orders comprising offshore support vessel and barges worth $29 million. This brought the group’s shipbuilding order book to $303 million comprising 50 vessels including offshore support vessel, diving support vessel, tugs, self-propelled cutter suction dredgers, barges and other vessels. These 50 vessels are scheduled for progressive deliveries up to first quarter of 2012.

ASL Marine expects the operating environment for its shiprepair and shipchartering operations to remain highly competitive. Despite this, the group expects to remain profitable for the financial year ending 30 June 2011.

PEC's 1Q 2011 earnings

PEC says profit attributable to shareholders rose 23% to $8.8 million for the first quarter ended 30 September 2010 of financial year 2011 (1Q2011) from $7.1 million in 1Q2010 due to improved margins and higher contributions from joint ventures.

Group revenue remained stable at $107.8 million in 1Q2011 compared to $106.9 million in 1Q2010, generated from ongoing project works and maintenance services. Gross profit during the period rose 14% to $27.3 million from $24.0 million, while gross profit margin increased to 25% from 22% in 1Q2010.
The improvement in gross profit margin was mainly due to lower operating cost coupled with contributions from variation works.

Cash and cash equivalents for the group grew 12% in the last quarter from $160.8 million as at 30 June 2010 to $180.3 million as at 30 September 2010. Net asset value per share also increased to 74.0 cents from 70.9 cents as at 30 June 2010.

As at 30 September 2010, the group’s order book for ongoing and new project works was $200 million.

SC Global reports a stunning set of results

SC just reported a stunning performance for the qtr ending 30th Sept 2010.

Nett earnings jumps by 563 % from 5.02M the same corresponding qtr a yr ago to 33.29M.

Eps stands at 8.37 cts

NAV is a whopping $1.42. Given that SC global projects in Singapore is mostly on high end, hence a comparsison between KepLand and SC would be quite appropriate.

Kepland is now trading at 2 times book value.

If SC global were to emulate kepland, the upside potential for SC Global, in my humble opinion would be trading at min S$2.50.

Recommendation : Outperform.

Australian Dollar Surges

Following Surprise RBA Interest Rate Hike

By Sumit Roy,

02 November 2010 06:51 GMT

The Australian Dollar has spiked higher following a surprise interest rate hike by the Reserve Bank of Australia. In particular, AUD/USD is approaching parity, a significant level which has acted as resistance for the pair since mid-October.

The RBA has raised rates to 4.75 percent from 4.50 percent, where rates previously stood for six months. Markets were not expecting an interest rate hike at this meeting; overnight index swaps were implying only 28% chance of a hike, or equivalently, a 72% chance that rates would be held steady. Ironically, the situation was reversed at the prior meeting in October. At the time, markets were implying a 74% chance of a hike, but the RBA surprised with no hike.

Taking a look at the accompanying statement, the RBA noted that “the turmoil in financial markets earlier in the year has abated, though sentiment remains fragile.” The central bank was especially upbeat on the Australian economy, expecting “stronger private spending over the next couple of years, especially business investment.” But what really seemed to tip the scale in favor of a rate hike was the RBA’s belief that “inflation is likely to rise over the next few years.” All things considered, the bank felt that “early, modest tightening of monetary policy was prudent.”

Unsurprisingly, future interest rate hike expectations have risen substantially following the latest policy decision. Markets are now expecting 61 basis points of rate hikes over the next twelve months, which is on top of the 25 basis points we got today. Prior to the decision, only 44bp were expected, but that was excluding today’s 25bp.

Looking forward, it will be difficult to arrest the Australian Dollar’s advance as economic growth and interest rate differentials remain extremely supportive of the currency. The next big event risk is the highly-anticipated Federal Reserve policy decision. The risk to the Aussie is if the Fed comes out with a smaller-than-expected quantitative easing program. While it is difficult to gauge market expectations in this situation, market commentators have been bandying about a $500 billion figure. If the actual figure is substantially smaller than that, we may see a broad rally in the U.S. Dollar, which would have an adverse impact on AUD/USD. Otherwise, an outcome that is close to expectations will merely reinforce the extremely strong uptrend in the Australian Dollar.

Jittery developers go low-rise on confidence

34% expect prices of new launches to fall; some fear more cooling measures

By KALPANA RASHIWALA

(SINGAPORE) The worst- kept secret in the property market is out in the open. Not only are developers less upbeat about the future but a third of them actually expect prices of new homes to decline. And market performance for the suburban residential sector may be the worst hit.



This dose of pessimism was reflected in the latest readings of Real Estate Sentiment Index (RESI) put out by the developers body and NUS.
In the wake of the Aug 30 cooling measures, some 34 per cent of developers polled for Q3 expect prices for new residential launches to decline, albeit by less than 10 per cent, over the next six months. None of the developers surveyed in Q1 and Q2 had predicted price drops.
Just 44 per cent expect more new residential units to be launched over the next half year, down from 68 per cent in the previous quarter.
The sentiment indices slipped below the psychologically significant mark of 5 in Q3, indicating respondents were less upbeat in the quarter and expect more uncertain market conditions over the next six months.
The consensus as indicated by net balances is generally weaker.
Polled on how the suburban residential sector would perform, the net balance in Q3 was -43 per cent. This means that most expect the sector to perform worse over the next six months. In Q2, this net balance was +27 per cent, hinting at better future performance.
'The strong historical price growth in the sector is not likely to be sustained moving forward. Downward adjustment to the price growth, if it occurs in the next few months, will ease some pressure on the affordability level of mass-market residential properties in suburban areas,' said Associate Professor Sing Tien Foo of NUS.
The net balance for the future market performance of the prime residential sector, while still in positive territory, has also been declining significantly, from +54 per cent in Q1 to +32 per cent in Q2 and +3 per cent in Q3.
About 70 per cent of the developer respondents in the latest survey were concerned that the government could intervene to dampen the property market further.
They also cited other factors that could hurt sentiment over the next six months. The concerns included a slowdown in the global economy (cited by 60 per cent), an increase in the supply of development land (53 per cent), too many new property launches (49 per cent), rising interest rates (47 per cent) and tightening financing/liquidity in the debt market (40 per cent).
Eighty-four per cent of all survey respondents consider it likely and very likely that there will be a further increase in the supply of development land over the next six months. An even higher proportion, 90 per cent, of respondents expect the government to further boost the supply of Build-to-Order and Design, Build and Sell Scheme public housing flats as well as executive condo (EC) units.
Recent government steps to cool the market are expected to have most impact on the HDB resale and mass private housing market segments. About 76 and 64 per cent respectively of survey respondents rated their impact on these two market segments over the next six months as significant. Conversely, the measures are expected to have the least impact on the high-end/luxury segment with 64 per cent predicting minimal impact. For the mid-end private housing segment, 79 per cent foresee only moderate impact.
Real Estate Developers' Association of Singapore and NUS' Department of Real Estate polled slightly over 70 respondents for their latest Q3 survey, similar to the size for the Q1 and Q2 surveys.
The Current Sentiment Index, where respondents are asked to rate overall Singapore real estate market conditions now compared with six months ago, fell from 5.8 in Q2 to 4.8 in Q3.
The Future Sentiment Index, where respondents rate overall property market conditions over the next six months, also slipped from 5.9 in Q2 to 4.8 in Q3. As a result, the Composite Sentiment Index (the average of the two indices), also declined to 4.8. The index ranges from 0 to 10 with a score below 5 indicating deteriorating market conditions.
Redas CEO Steven Choo said: 'The RESI was able to track closely the immediate impact the cooling measures has on sentiments in the property sector.'
Agreeing, Knight Frank chairman Tan Tiong Cheng said: 'The findings are not surprising. Just look at the amount of land government has been releasing and the supply of new HDB flats and ECs they're planning, plus the demand-side measures. People have put on their thinking caps to figure out how they'll be affected, whether they are HDB upgraders, buying a second/investment property, or even downgrading.
'The latest survey results are a clear signal to government that the measures are having an impact,' he added.
Separately, the NUS' Institute of Real Estate Studies yesterday released its monthly Singapore Residential Price Index tracking prices of completed non-landed private homes. The overall index rose one per cent month on month in September, slightly slower than the 1.1 per cent increase in August.
NUS' sub-index for Central region, which covers a basket of properties in districts 1-4 and 9-11, increased 0.6 per cent in September, the same pace as in August. The sub-index for Non-Central region appreciated 1.4 per cent in September, slightly slower than the 1.6 per cent gain posted in August.