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761-780 of 10484
NO WORRY EVERYONE....
ME ASK MY SON GO TAKE OVER.......
GRADUATED FROM SMU WITH MBA.......
CFO NO PROBLEM.....MAYBE TAKE OVER CEO ALSO CAN
samson ( Date: 21-Aug-2013 23:04) Posted:
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halleluyah ( Date: 22-Aug-2013 10:04) Posted:
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BBs!!! We r waiting to collect more!!!
Peter_Pan ( Date: 22-Aug-2013 09:59) Posted:
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halleluyah ( Date: 22-Aug-2013 09:59) Posted:
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alvinngsh ( Date: 22-Aug-2013 09:58) Posted:
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GorgeousOng ( Date: 22-Aug-2013 09:57) Posted:
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Peter_Pan ( Date: 22-Aug-2013 09:55) Posted:
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Peter_Pan ( Date: 22-Aug-2013 09:55) Posted:
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Hawkeye ( Date: 21-Aug-2013 22:52) Posted:
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NoMoney ( Date: 22-Aug-2013 09:43) Posted:
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Kai Teck Tan's Overview
- Past
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- CFO at Midas Holdings Limited
- financial controller at raffles education
- financial controller at raffles education
- Education
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- NTU
- Temasek Junior College
- Connections
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87 connections
Kai Teck Tan's Experience
financial controller
raffles education
Public Company 1001-5000 employees Education Management industry
1999 â?? 2003 (4 years)
financial controller
raffles education
Public Company 1001-5000 employees Education Management industry
1999 â?? 2003 (4 years)
Kai Teck Tan's Education
NTU
Bachelor, Accountancy
1990 â?? 1993
Temasek Junior College
1987 â?? 1988
????? that will affect Midas operation and business? He is that important? He only hold 498lot of shares.
His duty was taken over by Financial Controller, his superior.
He is only 44 years old, young chap properly got better pay job or coming back to Singapore.
Peter_Pan ( Date: 21-Aug-2013 21:35) Posted:
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Research institutions: UBS Securities compose Date: August 6, 2013
New orders in the first half is expected to make the tender delay in reporting the results fell
China South Locomotive in August 27 interim results announcement is expected in the first half net profit fell 14 percent, mainly due to the EMU and new orders for high-power locomotives tender delay resulting decline in performance. Although CSR 225 billion in the first half of the new orders, but only a small part of the high-power locomotives and no new orders EMU orders. Remove BSTJV220 billion in manual car group orders, we expect to year, CSR itself has no vehicles in the manual group and the high-power locomotives orders.
Bidding is expected to restart soon, will drive the rebound in the second half performance
Recently, the government announced an increase in railway investment in 2013 from 40 billion to 690 billion yuan, and the " second five" railway construction from 120,000 km mileage target raised to 123,000 km, fixed asset investment objective from 2.8 trillion yuan raised to 33,000 billion. August 2 trucks and buses tender has been launched, we expect locomotives and EMUs new orders also about to restart the tender, and CSR have already begun to EMU new orders while doing preparation production to shorten the delivery cycle, so the company in the second half earnings expected significant rebound.
Lowered 2013 earnings forecast , growth is expected to rebound in 2014
As new orders in the first half delay, we will 2013/14/15E EPS forecast from down to 0.30/0.36/0.39 0.32/0.38/0.43 per million. We expect 2013 profits flat year on year, but in 2014 there will be about 20% of the rally, due to: 1) the low base effect 2) railway investment by the central policy support, in the second half there will be more new lines put into operation, support the future The equipment needs.
Valuation: maintain a " buy" rating, target price to 5.41 yuan
Corresponding target price from 5.46 yuan to 5.41 yuan fine. New target price of 5.41 yuan UBS VCAM based on discounted cash flow valuation model (WACC8.6%), maintaining a " buy" rating.
State Council's requirements over the completion of the railway construction investment plan this year
August 19 afternoon, the Chinese Government Network published the State Council on the reform of the railway investment and financing system to accelerate railway construction advice. Comment that should speed up the " five" railway construction, for exceeding the 2013 investment plan, really good job in the next two years construction arrangements, priority construction and poor areas in central and western railway and related facilities. Opinion also from advancing railway investment and financing system reform, and constantly improve the rail freight system, the establishment of railway public transport subsidy policy institutional arrangements, greater efforts to revitalize the railway land resources, strengthen enterprise management to improve return on assets, accelerate project preparatory work railway construction together to form six aspects such specific requirements.
1-7 months of this year, the national railway fixed assets investment completed 261.745 billion yuan, an increase of 16.0% over the previous year is expected to end, the new railway operating mileage of 5,500 kilometers, the national railway operating mileage will exceed 100,000 km, high-speed railway mileage will exceed 10,000 km 1-7 months of this year, the national railway fixed assets investment of 261.745 billion yuan, an increase of 16.0% over the previous year is expected to end, the new railway operating mileage of 5,500 kilometers, the national railway operating mileage will exceed 100,000 km, high-speed rail mileage will exceed 10,000 km
It is noteworthy that the opinions in addition refine railway investment " three axes" - set up Railway Development Fund, Innovation railroad bonds and revitalize the railway land resources, but also put forward the reform and the establishment of rail freight railroad public, policy transportation subsidies institutional arrangements in order to create conditions for social capital to enter the railway.
To create conditions for social capital into railway
" The" opinion " is the concrete implementation of the State Council meeting, arrangements for follow-up according to the document, the relevant departments should be in the file there is further introduction." China Railway Corporation official said.
July 24, Li Keqiang Jiabao chaired a State Council executive will study the deployment of railway investment and financing system reform and further speed up railway construction in the Midwest, and gives a range of ways to solve the railway construction fund. " Opinion" is undoubtedly the concrete implementation of the spirit of the previous meeting.
According to Shanghai Securities News reported, " Opinions" , by the Development and Reform Commission, Ministry of Finance and other research establishment Railway Development Fund to the central budget funds for guidance, to attract social corporate investment. Railway Development Fund invests primarily in state projects, social legal person not directly involved in railway construction, operation, but to ensure their access to stable and reasonable return. " Twelve Five" after three years, continue to issue government bonds to support the construction of the railway and railway bonds varieties and innovative ways.
And, " Opinions" , the railway freight reform, that in accordance with the railways and highways to maintain a reasonable price relations on the principle of national railway freight rates, step rationalize the price level, and the establishment of rail freight road freight price changes in price with the dynamic adjustment mechanism . Create the conditions for the railway freight rates by the government to government guidance pricing, tariffs increase flexibility.
" Passenger rail freight to subsidize the losses mainly rely, rail transport is a major cause of losses for many years the price, rail freight price changes over the years is very small, the whole railway system to make a great contribution to not be recognized." Chinese Academy of Engineering Wang Meng-shu to zhengbao , told reporters that there is room to improve rail freight prices, only railway reasonable tariffs, the railway construction investment can be truly healthy. Of course, " there are certain public railway, which is required to give due government subsidies." Wang Meng-shu said.
This " opinion" clearly establish railway public welfare, transport subsidy policy institutional arrangements. Moreover, " to rationalize the railway tariffs, the establishment of public transport accounting system before, to address China Railway Construction Corporation, inadequate capital projects, interest burden and other issues, taking into account the public railway transport factors, the central government in 2013 and the next two years on the Chinese Railway Corporation to implement transitional subsidies. "
Investment and financing other hand worth looking forward to is the " use of land" resources. This time, the " opinions" made it clear that " China Railway Corporation as a state-authorized investment institution, the original production and operation of the railway allocated land, can be configured to take authorized by the China Railway Company revitalize the use of law."
This means that in the future China Railway Corporation can bold attempt " to place road maintenance" , so popular in the real estate industry on the occasion, a great temptation to give all kinds of social capital.
The future growth of railway investment worth the wait
" High Speed Rail investment will not 'make money after bad', the central government will give full support for railway investment, for the railway infrastructure, locomotive manufacturing and other related industries form a long-term positive." Wang Meng-shu said.
It is reported that China Railway Corporation Corporation has recently started the first time after the establishment of railway locomotives, EMUs, procurement of buses and trucks, with a total purchase of over 500 billion yuan.
Moreover, railway investment this year also increased compared with the original plan. According to China Railway Company's latest statement, scheduling this year invested 660 billion yuan in fixed assets, including infrastructure investment 530 billion yuan, compared with an increase of 10 billion yuan original plan. According to statistics, this year, 1-7 months, the national railway fixed assets investment of 261.745 billion yuan, an increase of 16.0% over the previous year. Expected to end, the new railway mileage 5500 km, the national railway operating mileage will exceed 100,000 km, high-speed railway mileage will exceed 10,000 km.
Previously, the Development and Reform Commission also agreed to China Railway Company in 2013 China's railway construction bonds issued in phases 150 billion yuan, the total funds raised for Harbin to Qiqihar Railway Passenger wait 73 railway construction projects.
China Railway Company is also actively reform, improve service. In June announced Railway Company began implementing freight organizational changes introduced to simplify acceptance, reform transportation, cleaning charges, to provide " door to door" service and a series of measures. Although watching the effect remains to be seen, but in the long run, should pick up as the economy will be significant traffic growth.
CICC pointed out in a recent research report pointed out that the second half does not exclude the possibility of increased rail investment plans, the railway infrastructure companies have some counter-cyclical, when the economy is down, the infrastructure is the best hedging tool, and railways are government Infrastructure in the preferred varieties.
Guotai Junan believes that if the second half of the railway infrastructure investment plans upward, railway construction companies will bring investment opportunities.