Latest Posts By tradersgx - Veteran About tradersgx |
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25-Dec-2009 02:08 | ShareJunction / Merry Christmas to all! Go to Message | |||||||||||||||||||||||||||||||||||||||||||||||||||
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21-Dec-2009 23:22 | Ezra / Ezra Go to Message | |||||||||||||||||||||||||||||||||||||||||||||||||||
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About LEGG MASON, Inc. (http://www.leggmason.com/about/profile/) Since its founding in 1899 as a brokerage firm in Baltimore, Maryland, Legg Mason has evolved into one of the largest asset management firms in the world, serving individual and institutional investors in 190 countries on six continents.... ....... The diversification and balance of Legg Mason have fueled the company’s performance over its twenty-six year history as a public company. Currently, Legg Mason is one of the top ten asset managers in the world, with assets under management of $703 billion (as of September 30, 2009). |
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21-Dec-2009 23:05 | JurCem / Jurong Cement Go to Message | |||||||||||||||||||||||||||||||||||||||||||||||||||
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What a great Xmas gift! 5.2 The Offer represents another opportunity for the shareholders to dispose of their Shares. The Offer Price of S$2.10 for each Offer Share represents: (a) a premium of approx 64.1% over the last transacted price per share on the SGX-ST of S$1.28 on 18 Nov 2009... (b) ...... |
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21-Dec-2009 16:47 | JurCem / Jurong Cement Go to Message | |||||||||||||||||||||||||||||||||||||||||||||||||||
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+0.90? +70%? http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_E06F49C249692107482576910039B864/$file/Offer_Announcement_18Dec_2009.pdf?openelement |
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21-Dec-2009 09:51 | Ezra / Ezra Go to Message | |||||||||||||||||||||||||||||||||||||||||||||||||||
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21-Dec-2009 09:24 | Ezra / Ezra Go to Message | |||||||||||||||||||||||||||||||||||||||||||||||||||
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Top 2 vol now. +0.03 | |||||||||||||||||||||||||||||||||||||||||||||||||||
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19-Dec-2009 16:56 | Ezra / Ezra Go to Message | |||||||||||||||||||||||||||||||||||||||||||||||||||
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Ezra’s target price raised to $2.54 by CLSA, maintains buy 17.Dec.09 CLSA is maintaining Ezra Holdings (5DN.SG) at buy, raising its target price to $2.54 from $2.10 after upgrading its FY10, FY11 earnings forecasts by 10%, 11%, respectively, to factor in higher margins and lower finance costs. The brokerage says the offshore support services company is “poised to ride the growth in deepwater exploration and surging demand for attendant subsea services” as it will take delivery of three subsea vessels in 2010. Although Ezra has not secured contracts for its subsea vessels, CLSA does not think this should be an issue given strong demand and quality of its assets. But it says the company’s execution in the subsea business will be key as its switch to focus on deepwater exploration gathers pace. CLSA adds that Ezra’s valuation remains reasonable with PE premium to peers justified by strong track record of execution, stock still trading below five-year average PE, price/book multiples. DBS 25.Nov.09 Our sum-of-parts based TP for Ezra has been raised to S$2.77 UOB-KAY HIAN 16.Nov.09 Derived from sum-of the-parts, we initiate coverage with a 'buy' recommendation and target price of $2.70 Deutsche Bank Oct.09 Ezra Holdings Buy Maintain Target price of $2.70 JPMorgan Oct.09 Ezra Holdings Overweight Upgrade Target price of $2.40 CIMB Oct.09 Ezra Holdings Outperform Maintain Target price of $2.60 |
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19-Dec-2009 00:29 | Others / What's this? - CoscoCorp.ES.0912 Go to Message | |||||||||||||||||||||||||||||||||||||||||||||||||||
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List of Extended Settlement (ES) Contracts |
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19-Dec-2009 00:26 | Others / What's this? - CoscoCorp.ES.0912 Go to Message | |||||||||||||||||||||||||||||||||||||||||||||||||||
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CoscoCorp.ES.0912 - Extended Settlement (ES) Contracts http://www.nextview.com/sor/ Introduction to Extended Settlement (ES) Contracts ( http://www.sgx.com/wps/portal/marketplace/mp-en/products/securities_products/extended_settlement) An Extended Settlement (ES) contract is a contract between two parties, to buy or sell (a) a specific quantity (eg. 1000 shares) of (b) a specific underlying (eg. SIA) at (c) a specific price (eg. $19.70) for settlement at (d) a specific future date (eg. last business day of the month) when the contract matures or expires. ES contracts have fixed expiry dates (about 35 days from listing date) and there is no need for daily settlement, as the contract is settled on maturity. Benefits of Trading Extended Settlement (ES) Contracts a) More efficient use of capital When investors enter into an ES contract, they only need to put up a margin, which is a small fraction of the full contract value. This allows investors to free up cash as margins allow them to trade multiple exposure. As compared to margin financing which provides 3 times leverage, ES contracts can provide you with higher leverage ranging mostly from 5 times to 20 times depending on the volatility of the security. b) Ease of Taking Short Positions If investors hold a bearish view of the market, ES contracts will allow you the oppportunity to gain from downward movements of stock prices by taking short positions. The transactional costs are greatly reduced as compared to borrowing shares for gaining a short exposure unless you hold your position until settlement. c) Risk management and hedging The aim of using contracts, like ES contracts, in risk management or hedging is either to achieve price certainty by locking in prices in advance or to protect against adverse price impact on the value of one’s assets. Hedgers can aim to reduce price risk by buying ES contracts to create a long hedge or selling ES contracts to create a short hedge. d) Longer view of market Investors have more than one month to offset their positions. In comparison to the ready market, this will allow investors to take a longer view of the market. e) Greater flexibility to structure investment strategies ES contracts also offer investors unique trading opportunities such as calendar spreads and stock spreads. f) Arbitraging ES contracts will provide opportunities for arbitraging between the ES contracts and the ready market. -------------------------------------------------------------------------------- Risk of Trading Extended Settlement (ES) Contracts a) Leveraging The leverage exposure provided by ES contract can lead to substantial losses. If the market moves against the investor, the losses suffered from trading ES contract will be greater in percentage terms of the initial cost or capital outlay needed to enter into an ES contract position, ie., the margin deposit, against the price movement in the underlying asset. b) Overexposure and overtrading There is a danger that investors tend to look only at the margin required and often fail to appreciate and take into account the full contract value. This can result in overexposure when investors trade in a large number of contracts, which may be significantly beyond their financial resources. c) Margin Calls If the market moves against the investor, the losses will be debited from the margin account. This is done on a daily basis. If the margin account falls below the required margin, a margin call will be initiated which requires a top–up back to the initial margin + variable margin, or to reduce the number of open contracts. Failing which, the broker may force–liquidate the position. d) Buying–in Should an investor hold a short ES contract position till expiration, he or she is obligated to physically deliver the stock for settlement. If an investor does not have the required shares in his or her account on the due date (the third market day following the expiration date), CDP will buy–in shares on the market to satisfy the delivery obligation. Buying–in starts the day after the settlement day (LTD+4). The buying-in bid price, as determined by CDP, will be 2 minimum bids above the highest of the closing price of the previous day, the reference transacted price or the reference bid price. The reference transacted price and the reference bid price will be any of the last transacted prices and bid prices in the 1 hour preceding the commencement of buying-in, as determined by CDP. In addition to the current processing fee for buying-in, there will be a penalty of 5% of the value of the failed trade subject to a minimum of $1,000". |
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18-Dec-2009 17:41 | CityDev / CityDev Go to Message | |||||||||||||||||||||||||||||||||||||||||||||||||||
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18-Dec-2009 16:59 | Midas / Midas Go to Message | |||||||||||||||||||||||||||||||||||||||||||||||||||
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I thik Midas will move above $0.90 next wk.. |
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17-Dec-2009 21:33 | SMRT / SMRT Go to Message | |||||||||||||||||||||||||||||||||||||||||||||||||||
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SMRT Corporation Ltd: Riding high Fair value : S$2.05 As the operator of the Circle Line, we expect SMRT to capture higher train ridership as remaining stages of the line are progressively opened for operations from 2010 onwards. We believe a rising population and key events such as the opening of the Integrated Resorts would continue to drive SMRT’s transport services. For non-fare revenue, we are also optimistic that SMRT would likely turn in higher rental revenue amid larger lettable rental space from new refurbishments. We continue to like SMRT its defensive nature, consistently strong dividend payouts and operating cash flows. In view of market’s reduced risk aversion, we now raise our DDM-based fair value to S$2.05 from S$1.92 previously. While operating expenses are likely to trend upwards with the ramp-up in the CCL and higher electricity contract rates, we expect SMRT to uphold its profitability amid higher expected ridership and rental revenue. Maintain BUY. OCBC 17.12.09 |
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16-Dec-2009 23:58 | Sinotel Technolo Rg / LATEST NEWS Go to Message | |||||||||||||||||||||||||||||||||||||||||||||||||||
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Sinotel: BUY, S$0.67; Price Target: S$0.88 Sinotel secures market maker for ADRs Sinotel Technologies today announced that Hudson Securities has officially been granted approval by the US financial industry regulatory authority (FINRA) to act as the market maker for Sinotel's American Depository Receipts ("ADRs") with effect from December 11, 2009. This milestone finally marks the successful completion of Sinotel's ADR journey in the US. To recap, we had highlighted the potential listing and trading of Sinotel's ADRs as a key positive catalyst for the stock in our recent initiation report. Now that Sinotel has secured the market maker for ADRs, they can start trading on OTC in US. The ADR provides a platform for the company to attract global investors as it shields them from time difference, cross border transaction fees and currency exchange fees. The availability of the ADRs is likely to improve trading liquidity, and hopefully, help to reduce its valuation gap with Hong Kong and New York listed peers. Thus, we maintain our BUY call, TP unchanged at S$0.88. DBS 15.12.09 |
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16-Dec-2009 23:39 | Ascott REIT / Back to the Good Price Go to Message | |||||||||||||||||||||||||||||||||||||||||||||||||||
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AscottREIT breaking strongly above the $1.14 key support-turned-resistance level on heavy volume yesterday, it could see more mid-term upside potential. Initial resistance at $1.25. On the upside, we peg the initial resistance at $1.25 (support-turned resistance), breaking which, we see the subsequent resistance at $1.36 (minor peaks in Apr & May ‘08) OCBC 16.12.09 |
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15-Dec-2009 23:12 | Hyflux / Hyflux Go to Message | |||||||||||||||||||||||||||||||||||||||||||||||||||
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Hyflux; Price Target : 12-Month S$ 3.70 (Prev S$ 3.50) Another fund-tastic deal • Hyflux has formed a JV with Japan’s JGC Corp (JGC) to co-fund water projects in China. For a start, Hyflux will divest its Tianjin desalination plant into the JV • Funding aside, Hyflux can leverage on JGC’s strong presence in MENA to expand into bigger scale IWPP • This is positive for Hyflux’s asset light strategy to maintain sustainable growth ahead • Expects S$12m gain from Tianjin divestment and USD63m proceeds to lower gearing to 0.46x from 0.76x Maintain Buy with TP: S$3.70. As we have assumed the gain to be booked in FY09, there is minimal change to our FY10 earnings and thus no impact on TP. However, we see scope for earnings upside in FY10 should there be further asset divestments, which we have not accounted for in our forecast. 15.12.09 DBS |
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15-Dec-2009 12:28 | Ezion / Niche services to the offshore sector Go to Message | |||||||||||||||||||||||||||||||||||||||||||||||||||
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Ezion at top 5 vol and up +0.025! Ezion Holdings Limited : (Ezra Holdings owns 14.02% of Ezion ) Group (Year-To-Date) 9 months ended 30.09.2009 vs 9 months ended 30.09.2008 Revenue: $56.48mil vs $20.49mil +175.6% Profit before income tax: $12.11mil vs $5.98mil +102.5% Net Profit for the period $11.47mil vs $5.86mil +95.8% Earnings per ordinary share 1.72 cents vs 0.91 cents +89.0% A commentary: for the next 12 months -The Group has more assets to be deployed in 4Q FY2009. The first unit of multi-purpose self-propelled jack-up rig ("liftboat") would be delivered before the end of FY2009. -We also expect positive contribution from our joint venture in Australia in 4Q FY2009. Barring unforeseen circumstances, the management expects the Group's performance in FY2009 to be better than that of FY2008. |
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15-Dec-2009 12:18 | Ezra / Ezra Go to Message | |||||||||||||||||||||||||||||||||||||||||||||||||||
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Ezion at top 5 vol and up +0.025! Ezion Holdings Limited : (Ezra Holdings owns 14.02% of Ezion ) Group (Year-To-Date) 9 months ended 30.09.2009 vs 9 months ended 30.09.2008 Revenue: $56.48mil vs $20.49mil +175.6% Profit before income tax: $12.11mil vs $5.98mil +102.5% Net Profit for the period $11.47mil vs $5.86mil +95.8% Earnings per ordinary share 1.72 cents vs 0.91 cents +89.0% A commentary: for the next 12 months -The Group has more assets to be deployed in 4Q FY2009. The first unit of multi-purpose self-propelled jack-up rig ("liftboat") would be delivered before the end of FY2009. -We also expect positive contribution from our joint venture in Australia in 4Q FY2009. Barring unforeseen circumstances, the management expects the Group's performance in FY2009 to be better than that of FY2008. |
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14-Dec-2009 09:33 | Swiber / Swiber Go to Message | |||||||||||||||||||||||||||||||||||||||||||||||||||
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FOR IMMEDIATE RELEASE Contact Information: Citigate Dewe Rogerson, i.MAGE Pte Ltd Dolores Phua / April Moh 97508237/9781-3518 SWIBER SECURES TWO LETTER OF AWARDS WORTH UP TO US$81.9 MILLION FOR OFFSHORE SUPPORT VESSELS - Three contracts worth up to US$158.9 million secured in over two weeks, boosting orderbook Singapore - December 14, 2009 – Swiber Holdings Limited (“Swiber” or together with its subsidiaries, the “Group”), a world class integrated construction and support services provider to the offshore oil and gas industry, announced two Letter of Awards (LOAs) from major oil companies in South East Asia to provide offshore support vessels. |
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12-Dec-2009 02:00 | Yanlord Land / Lord of China Prop Go to Message | |||||||||||||||||||||||||||||||||||||||||||||||||||
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10-Dec-2009 17:21 | Ezra / Ezra Go to Message | |||||||||||||||||||||||||||||||||||||||||||||||||||
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EOC AWARDS KEPPEL SHIPYARD S$104M CONTRACT TO CONVERT FPSO SINGAPORE, 10 December 2009 EOC Limited (EOC or the Group), an Asian-based provider of offshore oil and gas support services, has awarded Keppel Shipyard Limited (Keppel Shipyard), a subsidiary of Keppel Offshore & Marine Limited (Keppel O&M), a S$104 million contract to convert a floating production, storage and offloading (FPSO) unit. Under this contract, Keppel Shipyard will convert a 168,000 deadweight tonne (dwt) Suezmax oil tanker into an FPSO unit that can produce up to 50,000 barrels of oil per day and have a storage capacity of about 680,000 barrels of oil. The unit will be leased to Premier Oil Vietnam Offshore B.V. (Premier Oil) for the development of the Chim Sao field, as part of the US$1 billion contract that the Group clinched in October. Mr Lim Kwee Keong, EOC's Chief Executive Officer, said: "We selected Keppel Shipyard because our emphasis has always been on not just meeting our clients' expectations, but exceeding them. We have enjoyed a fruitful partnership with Keppel Shipyard, who executed our first FPSO project successfully and safely. We look to continue our relationship with Keppel Shipyard as we execute our plans for growing our number of premium FPSOs in the region." This FPSO conversion is the second that the Group has awarded Keppel Shipyard; the first was for the Lewek Arunothai. The conversion will include refurbishment and life extension works; accommodation upgrades; the fabrication and installation of topside modules and a turret mooring system, a flare tower, a helideck and pipe racks; tank coating work; structural steel additions; and new piping systems. It will also feature an internal turret designed by EOC's associate company, London Marine Consultants(LMC). Under the Chim Sao contract, the converted vessel will be tied to Premier Oil for up to 12 years. The project is worth up to US$527 million for the primary term of six years, and up to another US$477 million if all of the six one-year options are exercised. EOC will be operating the FPSO unit with a Vietnamese partner to perform oil and natural gas liquids processing as well as water injection at the field. Production is expected to begin in the second quarter of 2011. On prospects for the Group given the current industry outlook, Mr Lim said: "We expect to see growing demand for FPSOs globally as oil prices remain firm and global oil majors look to increase their capital expenditure. In addition, we continue to see a steady stream of enquiries for our other assets, such as the Lewek Champion, our heavy-lift pipelay vessel, which we expect to be fully deployed over the medium term." EOC Limited : 10 LARGEST SHAREHOLDERS AS AT 28 Sep 2009 1 EZRA HOLDINGS LIMITED 53,891,889SHARES 48.57% 2 MERRILL LYNCH INTERN 6,448,392SHARES 5.81% 3 ODIN OFFSHORE 6,055,000SHARES 5.46% 4 fred. olsen productions 5,455,000SHARES 4.92% 5 hygrove investments 4,827,400SHARES 4.35% 6 MLPF&S NOREWGIAN CUST 4,321,500SHARES 3.89% 7 JP MORGAN CHASE BANK 4,319,204SHARES 3.89% 8 ODIN MARITIME 2,300,000SHARES 2.07% 9 euroclear bank s.a./ 2,298,700SHARES 2.07% 10 NORDEA BANK DENMARK 2,000,000SHARES 1.80% |
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