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Straits Asia
richtan
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19-May-2009 18:59     
 
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Bullish cup with handle:

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cheongwee
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19-May-2009 18:49     
 
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PTT offer px is no necessary the fair px for this counter....not vested.

then why those ppl are buying up hundred of lots at 1.3...must be idiot..

if makret say it is worth so much...it is...we dont argue with market.



upforever      ( Date: 19-May-2009 18:36) Posted:



Wondering anybody has opinion or feedback on Straits Asia.  I just received from post today, the offer price is still at $0.807/ share cash offer.

 

ue, 24 Mar 2009, 10:26:05 SGT

Summary: Thailand’s PTT International (PTT) has made a S$0.807/share cash offer for Straits Asia Resources Ltd (SAR). The offer is a result of it purchasing Straits Resources Ltd’s 47.1% stake in SAR as part of a strategic alliance. The offer is priced 4.5% below SAR’s last transacted price and 7.9% below its six-month VWAP, and values SAR at a modest 2.2x FY09F PER and 1.2x FY09F NAV. This undervalues SAR’s strong fundamentals and earnings growth potential, in our view. We believe that the takeover offer is largely procedural since PTT has articulated its intention to retain SAR’s listing status on the SGX-ST. We do not expect investors accept the offer, especially given SAR’s generous dividends and robust prospects. We maintain our BUY rating and S$1.15 fair value estimate on the stock. SAR will be appointing an independent financial adviser to provide a recommendation in connection with the offer.

Lacklustre takeover offer. PTT International (PTT), one of Thailand’s largest energy companies, has made a mandatory takeover offer for Straits Asia Resources Ltd (SAR) at S$0.807/share. The offer is a result of it purchasing Straits Resources Ltd’s 47.1% stake in SAR as part of a strategic alliance. The offer price was derived from SAR’s 20-day volume-weighted average price (VWAP) prior to 20 Mar 09, but falls 4.5% below SAR’s last transacted price and 7.9% short of its six-month VWAP. In addition, it values SAR at a modest 2.2x FY09F PER and 1.2x FY09F NAV – far lower than the 11x PER price tag that Chinalco and Alcoa forked out for their stake in mining company Rio Tinto just a year ago. We are of the view that the takeover offer undervalues SAR, and do not expect investors to accept the offer. SAR will be appointing an independent financial adviser to provide a recommendation in connection with the offer.

No intention to privatise SAR. PTT’s takeover offer for SAR appears to be a procedural obligation as a result of it crossing the 30% ownership level. It has articulated its intention to retain SAR’s listing status on the SGX-ST, and added that it currently has no plans to introduce any major changes to SAR’s business, redeploy its fixed assets, or discontinue the employment of its employees. As such, the takeover offer will probably result in a change of SAR’s effective ownership with no major changes to the group’s strategy or management.

Good dividends and earnings prospects provide little incentive to accept offer. SAR’s shareholders may reap better returns in the long term by holding on to their shares, given the group’s generous dividends and robust outlook. SAR’s dividends yielded a generous 11.5% return in FY08, and we expect FY09 yield to increase to 17.8% on the back of higher earnings. Earnings are expected to more than double in FY09 thanks to higher coal prices secured during the commodity boom in 2008.



Sound fundamentals, maintain BUY. PTT’s takeover offer puts an end to months of speculation over SAR’s privatisation. It also rules out any acquisition by Noble Group Ltd (previously reported to be one of the interested bidders) or other strategic investors in the near term. We maintain our BUY rating and S$1.15 fair value estimate for SAR and do not expect PPT to raise its offer price. As for Noble, our BUY rating and S$1.33 fair value estimate remains intact.  
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cheongwee
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19-May-2009 18:45     
 
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I post dow 1000..is no make up of mine... i read it somewhere many times...this is one of them

Monday , May 18, 2009: Issue # 999      Print Version | About IU | Sign Up | Archives | Research | White List Us

The Dow Will Hit 10,000 in 2009
by Dr. Mark Skousen, Advisory Panelist

Highlights in this issue:

  • Three reasons why the Dow is going up.
  • Insights from Jeremy Siegel.
  • Why the Dow 10,000 in 2009 isn't crazy.



1,695 "Inside Traders" Just Saw 1,449% in Three Months

It started with a 244% gainer they targeted on February 12th... They uncovered another 269% winner on February 18th... And just recently, on May 4th, they locked in gains of 274%, 208%, and 156% in just one day!

All told, these "Inside Traders" have booked 1,449% in 3 months by adhering to a strict "formula" developed by a Wall Street turncoat.

To get a sneak peek at the strategy they swear by, go here now.



Dear Investment U Reader,

Wall Street has been debating the huge run-up in the Dow Jones Industrial Average.

Was March the beginning of a huge rally that will take the market to new highs? Have we witnessed the proverbial "dead-cat bounce?" The prognosticators have been unsure, uncertain and uncommittal about what they see coming next...

So let me make it clear where I stand: We are in the beginning of a new bull market that will carry us to 10,000 on the Dow by year's-end - and new highs within a couple of years.

Yes, the recovery will be volatile. But now is the time to buy, despite the big run up.

No doubt there's plenty of bad news out there - rising unemployment with no end in sight, threatened tax increases on capital gains and dividends, anemic corporate profits, commercial real-estate insolvency, federal deficits, continued threats from the Middle East and Afghanistan, the specter of inflation and high interest rates among others...

This list goes on and on. But as the old saying goes, "Wall Street climbs a wall of worry."

It's all for naught - and I encourage you to look past these sideshows and distractions. I'm convinced the stock market is headed higher - a lot higher. I'll share my reasoning and tell you why Jeremy Siegel feels the same way.

Three Reasons the Dow is Going Up

Over the past few months, three things have been sticking out to me like huge blinking aircraft landing signals. Here's why we're going to keep moving up..



  • The Fed. Bernanke and the Federal Reserve are pulling out all the stops to stimulate the economy. Since September 2008, the money supply (M2) has been growing at an incredible 13% rate, one of the highest in the post-World War II period.


As Milton Friedman has demonstrated time and time again, after a lag of between six and nine months an easy money policy will cause a sharp recovery in the economy and stocks. Economists call it the "Friedman Effect."


  • Mortgage support. The Obama administration has been working hard at bailing out all the unstable banks, bad mortgages and bad assets in the economy through massive deficit spending. Essentially, the government policy is putting a floor under the residential real estate market, which will keep it from collapsing any further.


  • History sides with the bulls. Last month, I had dinner with Jeremy Siegel, professor of economics at the Wharton School and author of the bestseller "Stocks for the Long Run." He is a firm believer in looking at historical trends, something that many investors and Wall Street analysts have forgotten. And right now, the trend favors the bulls.


Well, guess what? The lag is over, and the "Friedman Effect" is taking full effect. We can expect higher stock prices and a recovery in the economy by year-end. And as a result of the administration's efforts, housing sales are on the rise and real estate prices are stabilizing.

It's why I'm so interested in real estate lately. Take a look at my last column, "Real Estate: The Buy of the Century."

Adding more fuel to my position, when I sat down with Wharton's Wizard he showed me an interesting long-term chart of the S&P 500 Index.

The Wizard of Wharton's Long-run movements of stock prices since 1929

The Wizard of Wharton's Long-Term Outlook

You'll note that every time the market hit the bottom of his long-term chart, it rallied - sharply. And that's exactly where it was in late February when I met with Professor Siegel - at the bottom.

Sure enough, in early March Wall Street rallied - and it hasn't looked back. It's now up 30% from its lows. Between you and me, he called the exact bottom of the stock market within weeks. (Of course, so did a few of our analysts as well.)

How far up can it go? I asked this precise question to Professor Siegel last month.

He told me that he has just completed a study of how well stocks do after a major crash like the one we just experienced (falling 50% from its highs). His conclusion was pretty striking: After a major bear market, stocks on average rebound 24% the first year of recovery. And just as nice, the average annual return over the next five years is 18%.

Since the Dow was around 8,300 at the first of the year, it could climb back to 10,000 by year-end. (And 18,000 by 2013.) We could comfortably hit these numbers with an additional 19% gain.

Although many believe the "easy money" has been made - and they may be right - the market will still offer plenty of profitable opportunities in the coming months. It'll be volatile, but it's certainly not too late to get aboard.

Good investing,

Mark
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upforever
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19-May-2009 18:36     
 
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Wondering anybody has opinion or feedback on Straits Asia.  I just received from post today, the offer price is still at $0.807/ share cash offer.

 

ue, 24 Mar 2009, 10:26:05 SGT

Summary: Thailand’s PTT International (PTT) has made a S$0.807/share cash offer for Straits Asia Resources Ltd (SAR). The offer is a result of it purchasing Straits Resources Ltd’s 47.1% stake in SAR as part of a strategic alliance. The offer is priced 4.5% below SAR’s last transacted price and 7.9% below its six-month VWAP, and values SAR at a modest 2.2x FY09F PER and 1.2x FY09F NAV. This undervalues SAR’s strong fundamentals and earnings growth potential, in our view. We believe that the takeover offer is largely procedural since PTT has articulated its intention to retain SAR’s listing status on the SGX-ST. We do not expect investors accept the offer, especially given SAR’s generous dividends and robust prospects. We maintain our BUY rating and S$1.15 fair value estimate on the stock. SAR will be appointing an independent financial adviser to provide a recommendation in connection with the offer.

Lacklustre takeover offer. PTT International (PTT), one of Thailand’s largest energy companies, has made a mandatory takeover offer for Straits Asia Resources Ltd (SAR) at S$0.807/share. The offer is a result of it purchasing Straits Resources Ltd’s 47.1% stake in SAR as part of a strategic alliance. The offer price was derived from SAR’s 20-day volume-weighted average price (VWAP) prior to 20 Mar 09, but falls 4.5% below SAR’s last transacted price and 7.9% short of its six-month VWAP. In addition, it values SAR at a modest 2.2x FY09F PER and 1.2x FY09F NAV – far lower than the 11x PER price tag that Chinalco and Alcoa forked out for their stake in mining company Rio Tinto just a year ago. We are of the view that the takeover offer undervalues SAR, and do not expect investors to accept the offer. SAR will be appointing an independent financial adviser to provide a recommendation in connection with the offer.

No intention to privatise SAR. PTT’s takeover offer for SAR appears to be a procedural obligation as a result of it crossing the 30% ownership level. It has articulated its intention to retain SAR’s listing status on the SGX-ST, and added that it currently has no plans to introduce any major changes to SAR’s business, redeploy its fixed assets, or discontinue the employment of its employees. As such, the takeover offer will probably result in a change of SAR’s effective ownership with no major changes to the group’s strategy or management.

Good dividends and earnings prospects provide little incentive to accept offer. SAR’s shareholders may reap better returns in the long term by holding on to their shares, given the group’s generous dividends and robust outlook. SAR’s dividends yielded a generous 11.5% return in FY08, and we expect FY09 yield to increase to 17.8% on the back of higher earnings. Earnings are expected to more than double in FY09 thanks to higher coal prices secured during the commodity boom in 2008.



Sound fundamentals, maintain BUY. PTT’s takeover offer puts an end to months of speculation over SAR’s privatisation. It also rules out any acquisition by Noble Group Ltd (previously reported to be one of the interested bidders) or other strategic investors in the near term. We maintain our BUY rating and S$1.15 fair value estimate for SAR and do not expect PPT to raise its offer price. As for Noble, our BUY rating and S$1.33 fair value estimate remains intact.  

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cheongwee
Elite
19-May-2009 17:43     
 
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today my fish is finally swimming....hopefully upstream.

QIANHU...bought at 10 to 11c...pprevious.loss money cut 15c...

now is payback time for me..

hey laulan...this one also good..buy this nw.if it decide to swim to Pacific ocean , swim big time , this one will beat SAR in % term..

i will come back to SAR only if the vol is 50,000,000 share.

.

 
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niuyear
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19-May-2009 17:27     
 
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Why white people soooo 'colourful' from birth till death and coffin also in pink or what?  LOL!



cheongwee      ( Date: 19-May-2009 17:03) Posted:



My OCBC remiser sent me this...

 

This poem was nominated by UN as the best poem of 2008, Written by an
African Kid

image001.jpg

When I born, I black
When I grow up, I black
When I go in Sun, I black
When I scared, I black
When I sick, I black
And when I die, I still black

And you white fellow
When you born, you pink
When you grow up, you white
When you go in sun, you red
When you cold, you blue
When you scared, you yellow
When you sick, you green
And when you die, you gray

And you calling me colored????


 




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cheongwee
Elite
19-May-2009 17:03     
 
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My OCBC remiser sent me this...

 

This poem was nominated by UN as the best poem of 2008, Written by an
African Kid

image001.jpg

When I born, I black
When I grow up, I black
When I go in Sun, I black
When I scared, I black
When I sick, I black
And when I die, I still black

And you white fellow
When you born, you pink
When you grow up, you white
When you go in sun, you red
When you cold, you blue
When you scared, you yellow
When you sick, you green
And when you die, you gray

And you calling me colored????


 



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cheongwee
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19-May-2009 16:29     
 
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and to richtan and all,,,vested here...congra...this is a good counter..u know BHP..if u know BHP..i dont need to mention...

SAR if under good management , i believe this is a future blue chip like venture...at these condition it make good profit...if the economy boom this one sure rocket back to it old time of 4...or even higher.

good counter to long, of course keep a lookout of fundamental change..we may not know the chief gone bonker and anyhow make lousy decision cause coy to go down..

happy fr u who make $
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cheongwee
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19-May-2009 16:23     
 
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Hi laulan....i thk u have cover back already, right?,,...no worry..u put stop lose is right..i too lose money, it hit my 117 stop...so long u really practise stop lose, no worry, u will end up better.

fr my experience..every 7 losses, 4 winners i still end winning,..i check my record. of trade done..

no worry, nobody win everyday...

nw, why not join me at cacola and chianAElect..

what are the chance of SAR double fr 1.29 to 2.58???

what are the chances of cacola and chinaAElect double fr 7c to 15c???

which one more likely???

of coures..it is cacola and chinaAElect...obvious

and nw if u short SAR, what are the chances that SAR going below a dollar at this point of time...just ask honestly...

join me there..i cut here is no lose, it is because i thk as the rally proceed, these two counter are likely multibagger than SAR..so i move over there.

there is nothing wrong with the counter(SAR)....but there are definitely something wrong with mine..one is making less, the other loss...but  i am betting play coming to china stock soon.

see you there....gd luck

 

 

.

 

 

 



Laulan      ( Date: 18-May-2009 14:50) Posted:

Don't quarrel.  Today I shorted at 1.21 and would buy back at 1.09 or lower.  Borrowed the scrips to short so no need to worry about covering. Upside cut loss at 1.28. 10 lots only.
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richtan
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19-May-2009 14:14     
 
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 Alert Admin 		No, No, No, not made some but made a lot, bountiful,  from those shortist who are now burning hot, scrambling to short-cover, helping to further push-up,  hahahaha.....

thomas_low      ( Date: 19-May-2009 13:39) Posted:



Hi All, good to hear that you made some today, as I said, it will rocket, some BB even try to write bad about it and spread rumours about compulsory purchase of 0.817...so that they can generate fear in the market and dump this gem and the lap it up. Keep sharing and keep adding more zeros behind the bank balance. ...cheers...thank you all too.
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niuyear
Supreme
19-May-2009 14:10     
 
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congrates to you guys !  hope dont stop there, still unable to sell mine. bought high price leh. Cheers.
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thomas_low
Veteran
19-May-2009 13:39     
 
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Yells: "Gong Xi Money Made"
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Hi All, good to hear that you made some today, as I said, it will rocket, some BB even try to write bad about it and spread rumours about compulsory purchase of 0.817...so that they can generate fear in the market and dump this gem and the lap it up. Keep sharing and keep adding more zeros behind the bank balance. ...cheers...thank you all too.
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richtan
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19-May-2009 11:33     
 
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Yippee!!! Yippee!!! Yippeee!!! Thank u to all the shortists

Sing "Alleluya to the Shortist", push up more & more, panic short-covering, 3rd degree burnt in ICU liowSmileySmileySmiley
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787180
Master
19-May-2009 11:14     
 
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 Alert Admin 		Now $1.27/1.28 may cross $1.30 by this afternoon,somemore cum dividend unlikley will drop to $1.24 again

richtan      ( Date: 19-May-2009 10:42) Posted:


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richtan
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19-May-2009 10:42     
 
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Very good posting in CNA forum:

http://forum.channelnewsasia.com/viewtopic.php?t=242339&highlight=
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787180
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19-May-2009 10:21     
 
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 Alert Admin 		Yeah,they shot SAR down but I queue to buy at $1.15...can't get, $1.18 also buy and SAR went up liao...thank you shortist.LeggMason Inc and Fortis Investment Management both fund mamagers also own about 4.9% each in SAR

richtan      ( Date: 19-May-2009 09:49) Posted:

Shortist are my "Money-God" either helping me to push up the price so I make more profit or if they succeed in pushing down, help me to accumulate more at lower price.

Sing "Alleluya to the Shortist"



richtan      ( Date: 19-May-2009 09:44) Posted:



Hahahahahaha.... Shortist asshole burning hot, chow-tar by the red hot burning coal, quick short-cover & help us to fire-up the coal-fired rocket.

A zillion thanks to u shortist. I loved u people dearly.
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richtan
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19-May-2009 09:49     
 
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Shortist are my "Money-God" either helping me to push up the price so I make more profit or if they succeed in pushing down, help me to accumulate more at lower price.

Sing "Alleluya to the Shortist"



richtan      ( Date: 19-May-2009 09:44) Posted:



Hahahahahaha.... Shortist asshole burning hot, chow-tar by the red hot burning coal, quick short-cover & help us to fire-up the coal-fired rocket.

A zillion thanks to u shortist. I loved u people dearly.
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richtan
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19-May-2009 09:44     
 
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Hahahahahaha.... Shortist asshole burning hot, chow-tar by the red hot burning coal, quick short-cover & help us to fire-up the coal-fired rocket.

A zillion thanks to u shortist. I loved u people dearly.
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cheongwee
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19-May-2009 01:11     
 
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 Alert Admin 		What will be the px of BAC,AIG, citi,and those loser...if dow is 10000...? i wonder.
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cheongwee
Elite
19-May-2009 00:17     
 
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thanks richtan....i am a human and as a  human like anyone out there....i am happy if ppl said i am RIGHT...i dont like to be wrong...wrong means loss $$$...

but my friend 4 right call are multi bagger, but the other 6 are slightly abv or below water..

but who should be blamed, since i am the one who asked him...in fact, he is the one who taught me to invest in those bankrupt counter like AIG, BAC, citi....and they make me $$$ still i go bonker.

i even make a suggestion over at this forum, i did suggest u guy put 10% into these counter...u can check my previous post..

and right nw, he is still calling to buy these counter...u dare or not, but if you put the profit to speculate will be fine...if lose , lose profit only ,not your $

and he show and explain to me indicater of dow 10000..sti 2600 to 2800...i hope he is right so we all huat ah...

 

 



richtan      ( Date: 18-May-2009 21:47) Posted:

CW, I accept your explanation. True, I agree no one is 100% right just like Temasek.

Give tat man a Tiger, cheers!!



cheongwee      ( Date: 18-May-2009 15:22) Posted:

sure, why not, if he can make 4 out of 10 counter right, i am more than happy..

look his mermaid..i bought 30c to 41c..look even SAR 96.5...sold 1.16..and Armstrong 12c..and 17c.,..many more..

so even he is wrong  this one it is ok...and yes...dow 10000..sti 2600 to 2800...he show me, indicater, i am convince...

and for gold, he got nothing, becos he dont believe..but i do..gold 1500 XOP 2 to 3 yrs...

let market do the talking, arguing just to satisfy the ego is wrong..

let the market do the talking ..

this one is value 2 buck..unless fundamental change..short term market may go either way, long term fundamental rule...

since i am out, i really appreciatee ppl, short it down for me to get back on ..if i still got $$$

for richtan...u long ...so no problem..for me long term counter 25% cut loss..

i dont see this happening anytimes..to this counter...

no worry this one(SAR)...i am not worrying abt my Jade and Centillion..it is just 10% only..
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