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Reducing payouts. The recent 4Q08 results season has thrown up some surprises on the dividends front, as a number of high yielding stocks have slashed their payouts. ComfortDelgro, for exa …
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Neil Montefiore is to resign as M1's CEO on 1st February to "pursue other personal interests".This development is clearly unexpected. Although we had previously high-lighted management succession as a concern given Mr. Montefiore's long tenure, when we last raised this issue with him, he iterated his strong commitment to M1 (see Meeting the CEOs ; 5 Sept 08). Furthermore, as …
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My friend went to redempt his policy...Queue Number "2000++"...Below is a news from some newspaper:Singapore's central bank said AIA Singapore, a unit of troubled U.S. insurer AIG, is required under the law to maintain sufficient financial resources to meet all its liabilities to policyholders.'AIA currently meets these regulatory requirements. MAS will continue to monitor …
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Las Vegas Sands share price plunged 32.7% to US$7.85 yesterday. Creditdefault spread at 1804bp. Filing for chapter 11 bankruptcy protection is nolonger a remote possibility.All three Singapore banks have significant exposure. Singapore banks arelead arrangers in the S$5.4b credit facility for Marina Bay Sands. Allthree banks- DBS, OCBC and UOB- have …
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DBS has announced a 1-for-2 rights issue at S$5.42 (45% discount to lastclosing, 35% discount to theoretical ex-rights price) to raise S$4b.Largest shareholder, Temasek Holdings, will sub-underwrite 33.3% of rightsissue and has undertaken to fully subscribe for its entitlement of 27.6%.The rights issue is underwritten by Citigroup, Goldman Sachs, JPMorgan,Morgan Stanley and …
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Stocks Shares (m)FIRST SHIP LEASE TRUST 40.422STX PAN OCEAN 37.241HO BEE INVESTMENT 0.72HOTEL PROPERTIES 0.4238FIBRECHEM TECH 2.062FERROCHINA LTD 1.055JIUTIAN 5.09MMP 104.516RAFFLES MEDICAL 1.002RAFFLES EDUCATION 1.812SWIBER HOLDINGS 0.733SYNEAR FOOD HLDG 1.385Hong Kong's insurance regulator prohibitedAmerican International Group Inc.'s local unit from transferringassets to …
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Today 10 Oct is a day that worth to be remembered in financial history, because there are so many record breakings. 8 signficiant to Asia markets are:1. Banks borrow record amount from Fed2. GM shares tumble 31 percent to 58-year low3. Dow plunges 679 for 6th triple-digit loss in a row4. U.S. CRUDE OIL HITS FRESH 12-MONTH LOW OF $84.13 ON FEARS OF DEMAND SLUMP5. Buffett pips …
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DBS announced a rights issue to raise net proceeds of $4bn, shortly after its $1.5bn preference shares issue in May 2008. The rights issue comprises of 760,480,229 rights shares on the bas …
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33 SGX-listed companies have issued profit warning for the last quarter or financial year. Here is a list of the companies and their profit guidance or warning, together with the expected results annoucement date. Some of the counters include: TPV, New Lakeside, CHINA SUN BIO-CHEM, Jiutian Chemical Group, Tat Hong, C&G INDUSTRIAL, SKY China Petroleum Services, Delong, …
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Doubts on receivable and cash balance. After a two-day halt, Fibrechem announced that the group has encountered some difficulties with its auditor, Deloitte & Touche, in relation to th …
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Full year results were disappointing, although not unexpected. Revenue was up 42.1%, net property income up 31.8%, but DPU fell 5.1%. Revenue increased on the back of full year contributions from acquisitions and the fall in DPU is mainly attributed to higher borrowing cost.Portfolio size dropped 13%, mainly due to translation losses of the Australian properties and also …
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Capitaland 09-Feb-09 Announce right issue and notice of book closure date13-Feb-09 Receive approval-in-principle from SGX-ST and confirm book closure date16-Feb-09 Lodge OIS with the MAS18-Feb-09 Last day of cum-rights trading19-Feb-09 Shares trade ex-rights23-Feb-09 Book closure date26-Feb-09 Commencement of trading of "nil-paid" rights06-Mar-09 Last date for trading of …
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Golden Agri Resources’ proposed 17-for-100 rights issue is highly dilutive and we are downgrading the stock from BUY to Outperform It’s still unclear why the company needs the issue - at a …
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Weak 4Q08, no dividends. Cacola Furniture International Ltd (Cacola) turned in a dismal set of 4Q08 results with a net loss of RMB11.4m vs. a profit of RMB28.5m a year ago. Revenue declined 12.5% YoY and 18.0% QoQ to RMB129.9m as weak consumer discretionary spending continued to take a toll on the group's sales. The group reported a 14.8% slump in full year earnings to …
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The Singapore property market has stirred slightly from its slumber since February. The Alexis @ Alexandra was sold out soon after launch, while the Caspian is more than 70% pre-sold. Over …
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The Company was incorporated as a private company limited by shares on 23 February 1983 under the name of Twinbull Investments Pte. Ltd.. On 30 June 1983, the Company changed its name to L & M Group Investments Pte. Ltd.. On 27 September 1983, the Company was converted to a public company limited by shares and changed its name to L & M Group Investments Limited. The …
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Restructuring telecommunication operators. China’s restructuring of its telecommunication operators (telcos) is expected to benefit Sinotel, brought on by the expected capex spending byChi …
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Jaya’s FY08 net profit rose 24% to S$149.7m, in line with our expectations. Jaya also declared a final DPS of 7.5 Scts, bringing the total for the year to 13 Scts on a payout ratio of 67%. …
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We recently lowered our estimated office capital values and REIT target pricesfollowing the cut in our Singapore GDP growth forecasts to 2% in 2008 and -0.5% in2009 (previously 4.3% and 4.1% respectively). As a result, we lower our RNAVestimates and price objectives for developers to reflect our new assumptions (seeTable 2) and the latest 3Q08 figures. Our cautious stance on …
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International mail looks like the real threat: We believe themarket is focusing on the wrong issues in concluding thatSingPost is defensive. While a monopoly, the company has nopricing pow …
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