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CapitaLand: Too early to bottom fish
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crimson
Senior |
23-Jan-2009 16:57
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Hi trader88.sg, thanks for the explanation!
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ticklish8
Senior |
23-Jan-2009 16:27
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I remember not so long ago, Capitaland was sold down in similar way after the company say they wont go the IT way during Internet boom and was sold down....
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Farmer
Master |
23-Jan-2009 16:24
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Haha! Old rumours come back to haunt this one huh? Right issue to fund expansion is definitely a positive move for the counter esp......to buy some LVS's share of IR in Sg? Only this one which i can think of now will need more cash on top of $4.2b. Getting interesting now. | ||||
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trader88.sg
Veteran |
23-Jan-2009 16:13
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The main purpose of rights issue is to raise capital. For any rights issue, if the existing shareholders do not subscribe the rights, they risk dilution of their holdings in the company and thus some shareholders prefer to sell their holdings. Moreover, the need to raise capital might mean that the company are in need of funding to tie over challenging times, thus it is negative sign. That is why any rights issue at the moment will likely drive prices down. However, in a normal/bullish economy, the need to raise capital to fund expansion is actually a good sign and therefore the rights issue will be usually followed by price surge. |
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ticklish8
Senior |
23-Jan-2009 15:51
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Jan. 23 (Bloomberg) – CapitaLand Ltd., Southeast Asia’s biggest developer by sales, said it hasn’t decided on any fund- raising plans after receiving proposals that include one for a rights offer. “CapitaLand wishes to state that it has received and is continuing to receive various proposals for fund raising,” the company said in a statement to the stock exchange. “CapitaLand has not made any decisions. If and when there are any material developments, CapitaLand would make the appropriate announcement.” It didn’t give details about the proposals. Some of Singapore’s largest companies have turned to investors for cash as the global financial crisis tightens bank lending. DBS Group Holdings Ltd., Singapore’s largest bank, said last month it’s seeking to raise S$4 billion ($2.7 billion) in funds by issuing rights to one new share for every two held by existing investors. CapitaLand said it made the statement in response to media reports on its fund-raising plans. The shares fell 4.4 percent to S$2.39 at the 12:30 p.m. local time break before the release of the announcement. It was the biggest decliner on the Straits Times Index, which fell 0.5 percent. Liew Mun Leong, CapitaLand’s chief executive officer, said on Oct. 31 the developer’s cash position stood at S$4.2 billion, enabling it to seek opportunities for acquisitions. For Related News and Information: Top South, Southeast Asia news: {TOP SAS GO } Most-read Singapore news: {MNI SP GO } CapitaLand’s Assets: {CAPL SP Equity FA 19 GO } –Editors: Alan Soughley, Sean Collins To contact the reporter on this story: Chen Shiyin in Singapore at +65-6212-1170 or schen37@bloomberg.net. To contact the editor responsible for this story: Tony Jordan at +65-6212-1150 or tjordan3@bloomberg.net. -0- Jan/23/2009 05:29 GMT 01-23-09 0029EST |
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crimson
Senior |
23-Jan-2009 15:17
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Hi, i'm not familiar with the purpose/meaning of issuing rights... but reading the pass posts seems to indicate that any company issuing of rights will cause it's price to drop? Can kindly explain what's the rational of rights issuing that will cause price to drop?
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doug31
Member |
23-Jan-2009 15:12
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In october captial land low was also 2.28. Then it went straight up again. before coming down in end november the it went down to 2.37. I think the pattern should repeat itself sending it's price up to $3 again. My 2 cents worth. :D |
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ticklish8
Senior |
23-Jan-2009 14:19
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capitaland deny right 'CapitaLand wishes to state that it has received and is continuing to receive various proposals for fund raising. These proposals include rights issues. CapitaLand has not made any decisions,' the firm said in a filing to the stock exchange. The comment came as the firm enters into a tough period with Singapore property sales expected to slow significantly in 2009. CapitaLand's third-quarter net profit fell 26 per cent. CapitaLand, which is 40 per cent held by Singapore sovereign fund Temasek , said it had S$4.2 billion in cash at the end of the third-quarter. CapitaLand fell as much as 5.2 per cent on Friday and was the most actively traded counter on the Singapore Exchange. -- REUTERS SINGAPORE - CapitaLand, Southeast Asia's largest developer, said on Friday it has not made any decision to raise funds via a rights issue. |
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L.....
Veteran |
23-Jan-2009 14:11
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here we go again Live Quotes from SGX Rmk Last Change % Vol B Vol Buy Sell S Vol High Low Sector Capitaland 2.370 -0.130 -5.2 40,235 662 2.370 2.380 820 2.500 2.370 PROP | ||||
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L.....
Veteran |
23-Jan-2009 13:49
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good luck to u! and everyone, happy cny in advance :) property counters a No-No for me till we see ecy out of the woods... | ||||
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cheongwee
Elite |
23-Jan-2009 13:46
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Don' taunt each other, help each other to win, not good for one another.....going forward, i am buying slowly...we dont really know the bottom...yesterday went to investment seminar..expert said likely end 2009 bottom...but we really dont know...if ever this one got to 1.7...it is dirt cheap..it is cheap even at this level... But i think 2.0 is the lowest..i dont think it will go to 1.7..if it did , i be buying more. Good luck ..guy and gal..dont be sad, just keep buying slowly and bravely..u be rewarded. OK..key to buy in the afternoon at... let see first... |
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freeme
Elite |
23-Jan-2009 13:32
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haha i dun wan to short this at their support level. Not wise ;) I rather wait for them to reach their new low den initiat long position
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dinola
Member |
23-Jan-2009 13:06
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good thinking, pls go ahead and short.
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nickyng
Supreme |
23-Jan-2009 12:19
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ok....button pressed liao ! buyQ 10x $2.29 !!! :D | ||||
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L.....
Veteran |
23-Jan-2009 12:14
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plenty of activity going on.. 35mil lots done so far... wooo i think down and down liao sit tight | ||||
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jackjames
Elite |
23-Jan-2009 11:59
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so, TA expert also cannot tell you through the chart that, they are going to issue right issue, right? ha ha.. okay la, the chart can tell you yesterday, huge volume sell down, every indicator turn down.. so now what? people have to cut loss now ? and buy it back later or what? or hold? or short? can i buy it at $ 2 ? heng ... i am not vested yet, but i am confident when weather turn good, $3 no problem... nei.. someone stratergy... he must be buying big now. |
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DnApeh
Master |
23-Jan-2009 11:59
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yes, free show. just don't anyhow press buttons. | ||||
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L.....
Veteran |
23-Jan-2009 11:55
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not bad pre cny got show to watch i ordered mac delivery hehe, eat and watch at same time | ||||
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nickyng
Supreme |
23-Jan-2009 11:48
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just sit back and watch the show later loh....time will tell :D | ||||
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L.....
Veteran |
23-Jan-2009 11:40
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hit 2.37, went back up to 2.43 another case of shot it down, prop it up and shoot it down again later?? |
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