5 biggest threats to Genting Singapore growth revealed
These are dragging down its potential.
"Genting Singapore growth is under threat from cautious lending to VIPs, slower local visitation due to stricter restrictions, softer tourist arrival growth, rising cost pressures from restrictions on foreign labour and tight hotel room supply," said DBS Group.
So much so that currently the research firm prefers Macau and Philippines stocks with the regional gaming space given that these foreign stocks show stronger growth potential and face lower regulatory risks.
DBS' comment came even as it expects Resorts World Sentosa's EBITDA margin to recover and Genting Singapore remains a front-runner in Japan's bidding competition in the Japan market.
Glory day is the listing IPO day. Attracted by well reputation uncle J.Rogers the "Whiteknight" price sky rocket to 0.48. After all uncle J.Rogers is not Temasek Holdings or HongKong Li K.S.Price dip day-by-day, market sentiment or "invisible" hands(price manipulator),mind started to wondering.Is this another replicate of Xyec Holding? Finally on the nine trading days closing bell 0.260 +0.015.
Presently on chart due to this stock trading days are short, direction still unclear ahead and hard to analysis. Taking support price 0.245, resistance price 0.295.
Is this weekend chat? No. Vested!
My trading rules. When new listed IPO fall below listing price start worry and plan what to do next?
Biggest consolation to me is that clients have faith in me.
Advise. Dont put all apples in one basket. When an apple turn bad, it is time to throw away.
As said" short pain is better than long suffering."
Jubilee to acquire 60% stake in Viridea @ Medini Lakeside for $60m
In a proposed reverse takeover.
SGX Catalist-listed Jubilee Industries Holdings Ltd (Jubilee) announced today that it plans to acquire a 60%-stake in a development project in Medini Iskandar in a proposed reverse takeover (RTO) which includes a profit guarantee from its vendor of RM180 million (approximately S$72 million).
Jubilee said that it had entered into a conditional non-binding Memorandum of Understanding (MOU) with Jewelstone Properties Ltd (Jewelstone) to acquire its wholly-owned subsidiary, Tenderside Ventures Limited (Tenderside), for a consideration of RM150 million (or S$60 million based on the agreed average exchange rate of S$1 to RM2.50 over the 12 months prior to the MOU).
Tenderside owns a 60%-stake in Viridea Lakeside Sdn Bhd (Viridea), which in turn has contracted to acquire the development project known as “Viridea @ Medini Lakeside” located in Medini Iskandar, Johor, Malaysia.
The Project, a mixed development comprising serviced apartments, retail units and SOHO apartments, is a short drive from the Second Link connecting Johor to Singapore. It is situated within Medini Iskandar, a 2,230-acre zone within Iskandar, Johor, which offers special incentives for investors.
Viridea will be developing six plots of land which is expected to yield a combined gross floor area of 1.07 million square feet over 8.2 acres of land with an estimated gross development value of approximately RM800 million (approximately S$312.5 million). The Project is expected to generate profits of RM300 million (approximately S$120 million) of which RM180 million (S$72 million) of such profits shall be declared in favour of Jubilee according to the MOU.
Jewelstone will be controlled by Singapore businessman Mr Dennis Ng. Any shortfall of the profit guarantee will be made up in cash by Jewelstone. In consideration of the acquisition of Tenderside, Jubilee is proposing to issue to Jewelstone approximately 272.7 million new Jubilee shares at 22 Singapore cents each. The Consideration Shares represent approximately 53.7% of the enlarged share capital of Jubilee of approximately 507.4 million shares.
On completion of the RTO, Jubilee will control a property developer purely focused on Medini Iskandar, which offers eligible investors certain tax and other privileges and benefits.
Mr Ng is the President and CEO of King George Financial Corporation and a Director of Allied Hotel Properties Inc. Both these companies are involved primarily in real estate and listed on Canada’s TSX Venture Exchange in Canada. Mr Ng is the son of Dato’ Ng Eng Tee, the Deputy Chairman and Executive Director of United Malayan Land Bhd, a successful and experienced developer.
Cosco Corp - Why COSCO cannot fully celebrate its $400m new win orders?
$500m contract termination casting a long shadow.
"We doubt the simultaneous string of order wins announced by Cosco, amounting to US$400m, will mask the negative impact of the termination of a contract worth more than US$500m," said CIMB in its flash note.
Cosco’s only drillship order, due to be delivered in 3Q12, has been terminated by its owner, which is now seeking a US$110m refund.
CIMB cites a report from Riglogix, which suggests that Odjfell is the drillshp’s owner and the vessel’s status is “under inspection”.
"Cosco could sell the vessel for US$500m (vs. about US$600m built in Korea), but the sale may prove to be a loss as it could cost Cosco more than US$500m to complete the vessel. More modifications may be required to suit the new owner's requirements," said CIMB.
"Arbitration is likely to take long to reach a settlement and we expect any provision made in this regard to wipe out its FY13 or FY14 profits," it added.
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Tue, Aug 20, 2013 An article - Cosco Corporation (Singapore) Ltd - Can it earn higher margins from big order book – are all the analysts wrong?
8 analysts have an UNDERPERFORM, and only 1 has a HOLD call on the stock. Price targets range from 46 cents to 83 cents per share.
CIMB Research adds to the bleak outlook by pointing to low contract values for shipbuilding orders, and coming greater technical challenges and higher costs.
While CIMB Research has the slightly nicer-sounding recommendation of UNDERPERFORM, its target price of S$0.46 is actually below the others.
This is not the first time CIMB has rated such price but also in the past years. What have caused the hatred between Cosco and CIMB? Frankly speaking till now me still puzzle. Did the price in the past or present fall to what CIMB foreseen? Never! Believe me, if that day really happen, me will be the first to buy.
“Be Fearful When Others Are Greedy and Greedy When Others Are Fearful” - Warren Buffett
Singapore “Flyer” of the Week: Sysma Holdings Limited
By Sudhan P - October 18, 2013
The Motley Fool
Sysma Holdings Limited (SGX: 5UO), which is engaged in providing building construction services to the private sector in Singapore, flew 25.4% this week to clinch our Singapore “Flyer” accolade. The shares closed at $0.42 on Friday.
Sysma went public in August 2012 and “it had undertaken more than 140 projects for residential buildings, commercial buildings, heritage and conservation buildings, institutional buildings, industrial buildings and educational institutions.”
On 17 October 2013, the company announced that it would conduct a placement exercise to 14 individuals to subscribe to ordinary shares of the company. The shares totaling 19,500,000 will be issued at S$0.312 apiece when the exercise completed.
Net proceeds of approximately S$5.8 million will be raised after deducting “estimated expenses”. The net proceeds from the placement will be used to fund the company’s business expansion and for daily operations of the company.
Sin Soon Teng, Executive Chairman and Chief Executive Officer of Sysma, said: “The Placement Shares is to raise additional funding which will enable Sysma to continue to seek opportunities to grow its business further and enhance shareholder value”.
The company is currently trading at a historical PE of 13.7 and has a dividend yield of 2.2%.
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Signal Update
Our system’s recommendation today is to STAY LONG. The previous BUY recommendation was issued on 1/10/2013, 17 days ago, when the stock price was 0.3050. Since then 5UO.SI has risen by +37.70%.
Market Outlook
The bulls are in full control. The negative sentiment that led to the last bearish pattern has evaporated. Besides, the signal is suggesting to STAY LONG. It is best to follow the signal and continue to hold this security.
Rex in American meaning Mighty Counselor-Ruler, Latin meaning King.
Knowing Rex believe to be during listed IPO. Bought on day 2 where the price at 50cts plus. Peoples have believed once on Pearl Energy where 2 wks trading days continuously inch higher and higher. Indeed miracle has happened to Rex on 5 Aug. Sky rocket.. Still remember bought and sold more than 5 times with pocket full of cashes.
Last month when price hit 0.95. Me started to believe Pig Can Fly. Telling myself very soon join the dollar club. Hope turn disappointed. Never happen.....
Buy on dip. Everybody knows that theory but the question is how dip can dive? Just few days ago price hover and looked strong support price 0.85. That does not convincing me. Vested at my comfortable price 0.82. Now look like have to babysitting for a while.
Presently, no plan to average down because of apples in basket story. Shift focus to RH Petrogas.
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Signal Update
Our system’s recommendation today is to STAY IN CASH.
Market Outlook
The bears are in full control. Besides, the signal is suggesting to STAY IN CASH. It is best to follow the signal and calmly wait on the sidelines.
