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23-Mar-2010 10:18

RickmersMaritime / Container ships charterer with 170+ years history

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x 0

their SHiPs were bUilt at PEAK PRiCES ????

NEW SHiP PRiCES are at HALF-PRiCE nOw

Pacific Shipping Trust is iN gOOd pOsitiOn tO bUild nEw SHiPS at HALF-PRiCE nOw.

ROI25per ( Date: 23-Mar-2010 09:44) Posted:

Asset = US$1,264,595,000 ;Equity = US$394,577,000

A good analogy is

U have a 4-room HDB flat fully paid @ S$394, 577 and u get a 100% loan of S$870,018 to buy a 2/3 room condo. so can my condo rental covers my loan interest and installment?

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23-Mar-2010 10:15

RickmersMaritime / Container ships charterer with 170+ years history

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x 0

nO NAV ????

can gO as lOw as market wants

HiGH RiSK Of sUspensiOn.

Rickmers

Symbol:
B1ZU

Currency:
Singapore Dollar

Last:

0.315

-0.095

Vol (K): 11268.0

Trading
Updated Time	23-Mar 09:50
Open	0.3	High	0.34	Low	0.265
Prev Close	0.41	Buy	-	Sell	-
Volume(K)	11268.0	Buy Vol(K)	-	Sell Vol(K)	-
52 Wk High	0.64	52 Wk Low	0.325	52 Wk Avg Vol	1294.233
All Time High	1.72	All Time Low	0.32
Comments	No Info

*Technical Analysis Information is updated Daily

Technicals
RSI	60.85	Williams %R	-28.57
Comments (RSI)	No Info	Comments (W%R)	No Info

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23-Mar-2010 10:07

Genting Sing / GenSp starts to move up again

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City Harvest Church acquired Suntec Convention Centre after it made Cross-Sell Agreement with RWS.

Suntec REIT: Suntec Conventiondoes deals with church, IR

Summary: Suntec Convention Centre(SCC) has announced in recent weeks agreements with both City Harvest Church (CHC) and Resorts World Sentosa (RWS). Suntec REIT has a 20% interest in ARA Harmony Fund, which owns SCC. SCC and RWS signed an exclusive agreement in early March to cross-sell each other to “create real business opportunities for both venues”. Meanwhile, CHC has bought a stake in ARA Harmony Fund. CHC is spending S$310m in total on the acquisition, rental costs, and renovation costs and so on. The new relationship with CHC, in our view, brings SCC several steps closer to its goal of adding more stability to its revenue mix. Suntec’s manager has re-iterated that the REIT could potentially acquire all of SCC in “two or three years” time. We do note that CHC may be keen to maintain its ownership stake, however: it has cited its preference for a “more financially sustainable ownership model in the long term”. We maintain our BUY rating and S$1.44 fair value on Suntec. (Meenal Kumar)

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22-Mar-2010 19:02

Golden Agri-Res / GoldenAgr

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GoldenAgr

Symbol:
E5H

Currency:
Singapore Dollar

Last:

0.56

-0.0050

Vol (K): 44013.0

Corporate Action - Cum Dividend

Trading
Updated Time	22-Mar 17:05
Open	0.555	High	0.57	Low	0.555
Prev Close	0.565	Buy	-	Sell	-
Volume(K)	44013.0	Buy Vol(K)	-	Sell Vol(K)	-
52 Wk High	0.645	52 Wk Low	0.26	52 Wk Avg Vol	78811.47
All Time High	1.23	All Time Low	0.155
Comments	No Info

*Reporting Currency in USD
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	26 Feb 2010	Financial Year	31 Dec 2008
Current Year Profit (After Tax) $'000,000	1382.53	Previous Year Profit (After Tax) $'000,000	1164.79
Net Asset Per Share	0.37	Turnover $'000,000	1277.51
Current Year EPS (After Interest and Tax)	0.11	Previous Year EPS (After Interest and Tax)	0.1
PE Ratio (After Tax)	3.4	Times Covered	24.9
Price (at update time)	0.53	Dividend Yield	0.01

*Technical Analysis Information is updated Daily

Technicals
RSI	54.98	Williams %R	-43.75
Comments (RSI)	No Info	Comments (W%R)	No Info

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22-Mar-2010 18:58

Genting Sing / GenSp starts to move up again

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nO stratEgy iS A stratEgy

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22-Mar-2010 18:55

Others / RWS Casino

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RWS NANYANG MILLIONAIRE DREAM

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22-Mar-2010 18:51

FrasersComm / FrasersComm

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CLOSE to S$0.130

bUt NAV nOt available ?

FrasersComm

Symbol:
A48U

Currency:
Singapore Dollar

Last:

0.145

No Change

Vol (K): 1186.0

Trading
Updated Time	22-Mar 17:05
Open	0.145	High	0.15	Low	0.145
Prev Close	0.145	Buy	-	Sell	-
Volume(K)	1186.0	Buy Vol(K)	-	Sell Vol(K)	-
52 Wk High	0.28	52 Wk Low	0.135	52 Wk Avg Vol	4253.71
All Time High	1.44	All Time Low	0.13
Comments	Near 52 wk low

*Technical Analysis Information is updated Daily

Technicals
RSI	46.43	Williams %R	-100.0
Comments (RSI)	No Info	Comments (W%R)	Oversold

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22-Mar-2010 18:46

Ying Li Intl / Ying Li

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dOn't wOrry bE HAPPY!

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22-Mar-2010 18:45

UniFiber System / UniFiber

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United Fiber System

Lee Pineapple Company bought 2,000,000 shares na 9.130% 6.63%

[ERROR in % figures ?]

This latest change in percentage must be an ERROR

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22-Mar-2010 18:43

Keppel Land / Kepland

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prOfit taking AGAiN ?

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22-Mar-2010 18:42

China Aviation / Is CAO going to rise higher??

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most airlines are losing money and not achieving full utilization rate

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22-Mar-2010 18:40

Others / Retirement Life

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it is nOt abOut nO activity.

it is because retirees have nO mOney tO retire

sO retirees spend all their TiME lOOking for mOney and have nO TiME tO retire.

their CPF and banks savings had been earning interests belOw iNflatiOn ratEs and belOw cOst Of CAPITAL.

retirees became pOOrer by the years because of lOw interest ratEs.

This is the NEW ECONOMIC SLAVERY Tsunami on RETIREES

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22-Mar-2010 18:35

RickmersMaritime / Container ships charterer with 170+ years history

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this is the cOrrEct thrEad for RICKMERS MARITIME

Extract of Note 2.2 referred to in the Auditor’s Report:

Going concern

The ability of the Group and the Trust to continue as going concerns as at the date of the financial

statements is dependent on:

(i) the successful outcome of the refinancing of the Trust’s US$130.00 million facility (“Top Up

Facility”) of which the entire outstanding amount of US$128.70 million falls due on 30 April 2010;

(ii) the Group’s compliance with all its existing loan covenants. However, the continuing economic

downturn has resulted in a perceived drop in the value of container vessels. This may cause the

Group to breach minimum asset value to loan covenants; and

(iii) the successful outcome in negotiating an agreement on its liabilities in relation to four contracted

13,100 TEU containerships with a committed amount of US$711.73 million and three contracted

4,250 TEU containerships with a committed amount of US$207.00 million, all of which are due

within 12 months from 31 December 2009 (“contracted containerships”)*.

The Group also has contingent liabilities with respect to the unfulfilled capital commitments

(Note 21).

The Trustee-Manager is presently in discussions with its lending banks to permit the Trust to

extend the repayment date for the outstanding amount of US$128.70 million under the Top Up

Facility and amend the loan covenants relating to the bank borrowings. The Trustee-Manager

believes that the financing issue will be resolved and hence considers it appropriate to adopt the

going concern basis.

In addition, the Group’s container vessels are leased out on long-term, fixed-rate charters which

are valued higher than the current charter-free vessels. There is no universal method of

valuation and all valuations obtained under the current economic condition are subject to

various assumptions which have not been agreed upon unanimously by all parties especially

shipowners, ship financiers, brokers and valuers.

The appropriateness of the going concern assumption on which the financial statements are

prepared is dependent on the continued support from the Group’s banks, related parties and the

Group’s ability to generate sufficient cash from its operations to meet its obligations as and

when they fall due.

If these are not forthcoming, the Group and the Trust may be unable to continue in operational

existence in the foreseeable future and adjustments would have to be made to reflect a situation

where the assets may need to be realised other than in the normal course of business and at

amounts which could differ significantly from the amounts stated in the statements of financial

position of the Group and of the Trust. In addition, the Group and the Trust may have to provide

for further liabilities which may arise, and to classify the non-current assets and non-current

liabilities as current assets and current liabilities respectively.

The financial statements do not include the adjustments that would result if the Group and the

Trust were unable to continue as going concerns.

* As at 31 December 2009, the Group’s unfulfilled capital commitments was US$138.0 million and the existing capital

commitment was US$780.7 million.

Zelphon ( Date: 22-Mar-2010 17:57) Posted:

Better sell while you can..

PWC mentioned in latest findings that Rickmers may have problem keeping the Trust afloat..

http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_01A65C8F34A62AEF482576EE0033F9DD/$file/Disclaimer_of_Opinion.pdf?openelement

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22-Mar-2010 18:29

PacShipTr US$ / PST

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it has been know fOr years

Out Of three shipping Trusts,

- First Ship Lease

- Rickmers Maritime

are in dEEp SHiT as Going Concern because of their HUGE LOANS LIABILITIES.

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22-Mar-2010 18:26

PacShipTr US$ / PST

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Hi Zelphon

yOur LiNK is for Rickmers Marine Trust (RMT)

which has gOing cOncern fOr a lOng lOng lOng TiME already.

******** That is nOt PST which is Pacific Shipping Trust.

It has US18,742,000 of CASH as at 31 December 2009 ********

Rickmers Trust Management Pte. Ltd.
- acting as Trustee-Manager of Rickmers Maritime
11 Keppel Road #10-02 RCL Centre Singapore 089057
(Company registration no. 200616499G)
Pursuant to Rule 704(5) – Audited financial statements for the financial year ended
31 December 2009 – Auditor’s disclaimer of opinion
Pursuant to Rule 704(5) of the Listing Manual, the Board of Directors of Rickmers Trust Management
Pte. Ltd., acting as Trustee-Manager of Rickmers Maritime (the “Trust”) wishes to announce that the
Trust’s Independent Auditor, Messrs PricewaterhouseCoopers LLP, issued their report on Rickmers
Maritime Group’s financial statements for the financial year ended 31 December 2009, highlighting a
disclaimer of opinion.

Please refer to a copy of the Auditors’ report attached.

Extract of Note 2.2 referred to in the Auditor’s Report:
Going concern
The ability of the Group and the Trust to continue as going concerns as at the date of the financial
statements is dependent on:
(i) the successful outcome of the refinancing of the Trust’s US$130.00 million facility (“Top Up
Facility”) of which the entire outstanding amount of US$128.70 million falls due on 30 April 2010;
(ii) the Group’s compliance with all its existing loan covenants. However, the continuing economic
downturn has resulted in a perceived drop in the value of container vessels. This may cause the
Group to breach minimum asset value to loan covenants; and
(iii) the successful outcome in negotiating an agreement on its liabilities in relation to four contracted
13,100 TEU containerships with a committed amount of US$711.73 million and three contracted
4,250 TEU containerships with a committed amount of US$207.00 million, all of which are due
within 12 months from 31 December 2009 (“contracted containerships”)*.
The Group also has contingent liabilities with respect to the unfulfilled capital commitments
(Note 21).
The Trustee-Manager is presently in discussions with its lending banks to permit the Trust to
extend the repayment date for the outstanding amount of US$128.70 million under the Top Up
Facility and amend the loan covenants relating to the bank borrowings. The Trustee-Manager
believes that the financing issue will be resolved and hence considers it appropriate to adopt the
going concern basis.
In addition, the Group’s container vessels are leased out on long-term, fixed-rate charters which
are valued higher than the current charter-free vessels. There is no universal method of
valuation and all valuations obtained under the current economic condition are subject to
various assumptions which have not been agreed upon unanimously by all parties especially
shipowners, ship financiers, brokers and valuers.
The appropriateness of the going concern assumption on which the financial statements are
prepared is dependent on the continued support from the Group’s banks, related parties and the
Group’s ability to generate sufficient cash from its operations to meet its obligations as and
when they fall due.
If these are not forthcoming, the Group and the Trust may be unable to continue in operational
existence in the foreseeable future and adjustments would have to be made to reflect a situation
where the assets may need to be realised other than in the normal course of business and at
amounts which could differ significantly from the amounts stated in the statements of financial
position of the Group and of the Trust. In addition, the Group and the Trust may have to provide
for further liabilities which may arise, and to classify the non-current assets and non-current
liabilities as current assets and current liabilities respectively.
The financial statements do not include the adjustments that would result if the Group and the
Trust were unable to continue as going concerns.

* As at 31 December 2009, the Group’s unfulfilled capital commitments was US$138.0 million and the existing capital

commitment was US$780.7 million.

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22-Mar-2010 18:00

Healthway Med / healthway, healthy?

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*thE jUicEr*

the samE pErsOn iS Extracting thE jUicEs at HEALTHWAY.

bUying S$0.005 lOwer and sElling S$0.005 HiGHER bOth at thE samE TiME.

this is dOne at whatever PRiCE lEvEl.

thE lOwer thE PRiCE lEvEl, the bEttEr thE rEtUrn On thE jUicing.

lOwer PRiCES mEan jUicing iS mOre jUicy.

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22-Mar-2010 17:57

Healthway Med / healthway, healthy?

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3,701,000 S$0.165 SOLD DOWN at CLOSING

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22-Mar-2010 17:54

Healthway Med / healthway, healthy?

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Monday, 22nd March 2010 CLOSING

TOP VOLUME CHART 34,320,000   S$0.165

27,612,000   S$0.170      (17,257,000   BOUGHT from SELLER)

6,708,000   S$0.165

STI down 26.5 points

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22-Mar-2010 13:00

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

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James Lim (62323892, james.lim@dmgaps.com.sg) S T I Straits Times Index: Targeting the 3,000 level Performing as anticipated. Panning out inline with our bullish expectations, the Straits Times Index (FSSTI Index) managed to record another round of gains with a 1.2% weekly increment. As the STI continues to ride on its present Wave 5 for the current week, we thus opine that there remains room for additional upside notwithstanding that the index had already jumped by a hefty 6.0% in the current month so far. Therefore, we advise traders whom have missed the earlier boat to quickly board the ship now while the opportunity is still available for further capital gains. Reaching out for the 3k mark. Immediate resistance is now situated at the 2,947 level as identified by the end of Wave 3 and the upper bollinger band. Should this barrier be broken above, the STI would next target its 20-mth high at the 2,997 mark as derived from the trend high seen during late Jul 08.

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22-Mar-2010 12:58

Others / DOW INDUSTRIALS MAKING NEW HIGHS FOR 2010

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Dow Jones Industrial Average: Hitting higher ground The path is still clear. During the previous week, the Dow Jones Industrial Average (INDU Index) managed to record a new 52-week high while increasing 1.1%. For the present week, our bullish forecast still stays by virtue of the positive signal emitted from the MACD chart. Additionally, the current Wave 5 is also poised to push the index up to higher ground. Key barriers worth noting. Our previous resistance barrier at 10,729 has been broken above and current resistance now lies at the 11,168 mark as represented by the trend high during late Sep 08. However, any potential pullbacks should be limited to the 10,390 level as outlined by the 50-day moving average.

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