Singapore Stocks UpdateSingapore Stocks UpdateUpdate on the latest Singapore Stocks. Dividends paid and others Articles
Firstlink
2007-06-25 02:30:00 0036 GMT [Dow Jones] Firstlink Investments (S82.SG) halted from trade pending announcement, having closed +16.7% at S$0.175 yesterday. According to market rumors, investment holding company seeking to buy stake in bio-fertilizer company, possibly in China. Company could not be immediately reached for comment. Its current investments include contract electronics manufacturing, salt mining. (FKH) Contact us in Singapore. 65 64154 150; MarketTalk@dowjones.com
Stamford Tyres Net Pft down
2007-06-25 02:29:00 0036 GMT [Dow Jones] Stam ford Tyre s (S29.SG) may fall 3-4 Singapore cents after posting 25.5% on year fall in FY07 net profit to S$11.6 million due to rising raw material costs for its tyre and alloy wheel businesses; support at 5 day low of S$0.565. Company optimistic about riding out difficult market conditions, says it will strive for double-digit increase in FY08 turnover, with higher net profit than that achieved in FY07. Downside may be limited as revenue rose 16.9% on year to S$296.0 million, with FY06 net profit aided by one-off gains. Closed up 2.4% at S$0.63 yesterday. (JEM) Contact us in Singapore. 65 64154 150; MarketTalk@dowjones.com More About: Stamford
continuing education
2007-06-25 02:17:00 What do you hear know? What is eveyone doing? They are all trying to continuing education in order to further their career. There are people out there who can help you and one such person is Sara Orem, faculty member in the online university?s School of Business and Technology, co-authors book titled ?Appreciative Coaching: A Positive Process for Change? Sarah has been with capella university for a number of years and has been working in this online university. Yes it is an online university that currently offers 82 graduate and undergraduate specializations and 16 certificate programs. The online university currently serves more than 17,900 students from all 50 states and 56 countries. It is committed to providing high-caliber academic excellence and pursuing balanced business growth. Capella University is a wholly-owned subsidiary of Capella Education Company, headquartered in Minneapolis. ?This blog post was based on information provided by Blogitive. For more information, plea... More About: Ducati , Duca , Conti
Asian Stocks Advance on Gain in Chip Prices, Japan's Exports
2007-06-25 02:15:00 By Chen Shiyin and Makiko Suzuki June 21 (Bloomberg) -- Asian stocks advanced for a sixthday, the longest winning streak in almost eight months, afterprices of computer-memory chips jumped and a report today showedJapan's export growth almost doubled in May. Samsung Electronics Co. and Toshiba Corp. paced technologyshares higher, helping the Morgan Stanley Capital InternationalAsia Pacific Index to a record. China Mobile Ltd. led HongKong's Hang Seng Index to a new high after the Chinesegovernment gave its approval for mainland brokerages to buyshares overseas. ``People are more optimistic about the longer-term outlookand look for opportunities to buy shares that lagged benchmarks,such as semiconductor stocks,'' said Hiroshi Chano, who helpsmanage $7.3 billion at Yasuda Asset Management Co. in Tokyo. The MSCI index added 0.3 percent to 154.37 as of 2:12 p.m.in Tokyo, after climbing 2.9 percent in the previous fivetrading sessions. The measure last rose for six days i... More About: Stocks , Chip , Exports , Ports
TEE Int?l
2007-06-25 02:13:00 Construction growth to continue this year. TEE International (TEE) should continue to benefit from the continued growth in the construction industry in Singapore, through the mechanical and engineering services it provides as well as its recent venture into property development. Figures released by the Ministry of Trade and Industry (MTI) showed that the construction sector grew by 9.7% in 1Q 2007 and MTI expects construction demand to expand 12% this year. Meanwhile, the number of construction contracts awarded in 2006 grew 40%, according to the Building and Construction Authority, and we expect the contract pipeline to remain strong in view of the recent en-bloc sales and the construction of the two massive integrated resorts. Property development and acquisition strategy. TEE recently acquired properties at Thomson Road, Cairnhill Circle and Rambai Road. The former was a freehold land which TEE plans to redevelop into luxury apartments. Construction is commencing in July 2007 and...
Disney Tickets
2007-06-12 14:49:00 Last Oct, I brought my family to Disney World Hong Kong. It was great to see the opening of Disney World. Now this summer vacation, I will be going to Orlando, Florida to Disney World again and I am getting my Disney Tick et s on line. They are a few options when buying tickets online, the tickets are available for many different days and options from one to ten days for what is called, "Disney Magic Your Way". Take note they a guaranteed to be the lowest price as compared to anywhere else. We are going to see the latest attractions at Disney where you have Disneyquest, Downtown Disney Pleasure Island, Disney's Typhoon Lagoon, Blizzard Beach Water Parks, and Disney theme park. We are also going to pop-in to Universal Studio and Islands of Adventure, since we are already there. So see you and your family at Disney World.
CapitaCommercial Trust : Sells Wisma Technip
2007-06-12 14:48:00 HOLD S$3.00 ; CCT SP; Price Target : 12-Month S$ 2.97 ¾ Story: CCT is proposing to sell its 12-storey building Wisma Technip to Quill Capita Trust (?QCT?) for a price of RM125m (S$56.1m) through asset securitisation vehicle Aragorn, realising gains of approximately S$2m from the transaction. ¾ Point: We see this as a move by CCT to realign its strategy to grow its exposure in Malaysia through its 30% strategic stake in Quill Capita Trust (?QCT?). We believe it?s a positive for QCT (Buy, TP RM2.37), benefiting as the main platform for Capitaland?s growth into the Malaysian market. ¾ Relevance: While we like CCT?s platform of growth in Malaysia through QCT, we see small, albeit positive impact on CCT in the near term. With the sale of Wisma Technip, we have reduced our distribution income estimates in FY08 by 0.8% with DCF based target price of S$2.97 unchanged and we maintain our Hold recommendation. More About: Comm , Rust , Merc
Singapore Post
2007-06-12 14:46:00 Raises postage rates for only two weight-steps SingPost announced that it will revise its domestic postage rates for standard mail for the first two weight-steps of 20g and 40g with effect from 1 Jul 07 to account for the increase in GST from 5% to 7%. Postage rates for all other weight-steps for local posting will remain unchanged and SingPost will absorb the 2% incremental increase in the GST rate. The domestic postage rate for standard mail (stamped and franked) up to 20g will be raised from 25¢ to 26¢. For up to 40g, it will be raised from 31¢ to 32¢. With this postage revision, SingPost will maintain a revenue-neutral position ie no increase in its revenue. We are therefore not making any adjustments to our earnings forecast. Our DCF valuation gives a fair value of S$1.31, and we maintain BUY on SingPost. More About: Singapore
covered calls
2007-06-12 14:40:00 For all those who are out there searching for the best deal look no further if your are a stockist like me. PowerOptions is for you it provides the essential data you need to invest with stock options. Their patented SmartSearchXL® technology is not available anywhere else. It?s the best way to make money on Stock Option Trading. Learn about covered calls on their site. Their technology identifies the highest return option trades. Importantly they sort, filter, and analyze all 2,900+ optionable stocks and 190,000+ options online to find investments to meet your profit goals. Start trying it out and you decide if you can make money through stock options. More About: Calls , Covered
COSCO
2007-06-12 14:39:00 11 June 2007COSCO Corporation (COS SP / COSC.SI, OUTPERFORM - Maintained, S$2.98 -Target: S$4.22)Quick takes - Winning in bulkby Lim Siew KheeCosco has secured US$1.2bn worth of building bulk carriers contracts forits sister companies (under parent Cosco Group), as well as external shipowners. Its new Zhoushan yard will accommodate these jobs and deliverieswill be made between Aug 08 to Mar 10. Cosco's expanded capacity willenable the group to take on contracts on a much larger scale. This slew oforders also highlights similar value of orders for both related andexternal parties on bulk carriers that bear similar specifications,addressing concerns about revenue being discounted for jobs performed forrelated companies. The order wins are within our assumptions and supportour forecasts for 07-09. We maintain our S$4.22 sum-of-the-parts targetprice and our Outperform call on Cosco.Full Report [ Click here ]or the URL belowhttp://www.gohdirect.com/NASApp/spaf /econtent/sg/Cosco-QT-11...
C&G
2007-06-12 14:38:00 11 June 2007C&G Industrial (CNGI SP / CGTE SI, OUTPERFORM - Maintained, S$0.58,Target: S$0.90)Company update - Progressing nicelyby Kenneth NgOur recent discussions with management suggest that C&G is exploring plansto develop a new bi-component fibre used for specialised industrial andmedical needs. If this development materialises, management believes 40%gross margins from this product are possible. C&G's strategic alliance withSeptwolves, a Chinese menswear company, to supply its yarns should also beearnings- accretive from FY08. PSF and compact combed yarn development ison track. Our DCF target price remains S$0.90 (WACC of 12.41%, terminalgrowth rate 0.5%). Maintain Outperform.Full Report [ Click here ]or the URL belowhttp://www.gohdirect.com/NASApp/spaf /econtent/sg/C&G-Ind-110607.pdf
Lists Company
2007-06-12 14:31:00 What do all companies always look for to expand their business, they are searching for the Lists Compa ny that they can do business with. ResponseCom has achieve ground breaking results in proprietary blend of U.S. Response and U.S Consumer databases, resulting in a multi-dimensional database that offers extreme versatility and over 100 demographic and psychographic selects. This powerful database optimize data merged into one vast database of proven direct mail responders. What happens is that their clients have experienced higher response rates, profitability, and new business opportunities. Martin Worldwide possesses a database of over 290 million consumers and 14 million U.S. businesses.
Property
2007-06-12 14:31:00 Capitaland and Keppelland foray into Abu Dhabi. Capitaland entered into a Joint Venture agreement with Abu Dhabi based Mubadala Development company to develop and manage an integrated real estate development comprising residential, retail, sports and leisure components on a 15 million square feet prime waterfront site in Abu Dhabi. The initial equity amount committed by the partners is US$300 million with Capitaland holding a 49% stake in the Joint Venture and Mubadala holding 51% stake. The project cost is estimated around US$4 billion ? US$5 billion over a tenure of four to five years with the partners seeking over 30% margins. The first phase of the integrated development is expected to be launched by Q4 2007 having about 1,000 residential units and approximately 130,000 sq m in built-up area. In another announcement, Keppelland unveiled their plans to tap into the fast growing Abu Dhabi property market with a preliminary agreement with Abu Dhabi company Aldar properties to devel... More About: Property , Prop , Pert , Rope
Regional Morning Meeting Notes, June 12, 2007
2007-06-12 14:30:00 CHINA Market Analysis Red chips and A-shares. May 07 Trade Surplus Trade surplus widened on faster export growth. Century Sunshine (BUY/HK$2.09/Target: HK$2.96) Formation of JV with a partner in Jiangsu to facilitate expansion there. Maintain BUY. China Agri (NOT RATED/HK$6.23) Because all new fuel ethanol projects will use non-grain crops, there will be no significant impact on China Agri if the new policy is implemented. China Pharmaceutical Group (NOT RATED/HK$2.93) Stock price recovered after two years of bad performance, thanks to the price rally of API. Uncertainty remains.HONG KONG EganaGoldpfeil (HOLD/HK$6.21/Fair: HK$6.30) As the stock has already rolled forward from FY07 to FY08, we have revised up our fair value for the stock from HK$5.30 to HK$6.30.INDONESIA Astra Agro Lestari (BUY/Rp15,350/Target: Rp16,900) We upgrade our target price due to raising crude palm oil price assumption on the back of tight supply and ... More About: Regional , June , Notes , Morning , Gion
capella university
2007-06-11 02:26:00 capella university is an online university, where you can study via the internet. offers 82 graduate and undergraduate specializations and 16 certificate programs. The online university currently serves more than 17,900 students from all 50 states and 56 countries. The university has such student as Tammy Alexander who is doing is a master?s degree student in the online university?s education?enrollment management program. Tammy currently works for the FBI as the director for information assurance and cybersecurity training at Fountainhead College of Technology in Knoxville, Tenn., where her responsibilities include developing and conducting cyber security awareness lectures and workshops for the general public, academia and law enforcement. The online studies has allowed her to work and at the same time further her studies. That is the main advantage of studying via online. More About: University , Pella , Univ , Ella , Univers
TPV
2007-06-11 02:26:00 8 June 2007Gem TV Holding Limited (GEMS SP / GEMS.SI, OUTPERFORM - Upgraded, S$0.69,Target: S$1.32)Company update - Looking beyond FY08 for growthby Kasem PrunratanamalaWe believe Gems TV will be able to address lingering issues over the nextfew quarters. We are cautiously positive on the outlook for FY09, asreflected in our below-consensus estimates. With almost a debt-free balancesheet and strong net cash, Gems TV is well-placed to grow organically overthe next two years. Even though our FY08 EPS estimate has been cut by 34%to US$0.03, we raise our target price to S$1.32 from S$1.25. Our new targetis based on 15x CY09 P/E and 7x CY09 EV/EBITDA vs. 23x CY08 P/E and 12xCY08 EV/EBITDA previously. We apply a 20% discount to average peervaluations to reflect Gems TV's relatively short track record. The stock istrading at 7x CY09 P/E and EV/EBITDA, while offering a FY07-09 EPS CAGR of98% vs. the peer average of 23%. Upgrade to Outperform from Neutral.Full Report [ Click here ]or the U...
Selling Perth hotel
2007-06-11 02:24:00 Selling hotel in Pert h . Hotel Grand Central (HGC) just announced the sale of the 280-room Hotel Grand Chancellor Perth for A$52m versus the book value of A$38.8m. This means a gain of A$8.7m over its book value. Last year, this property contributed A$1.87m in group pre tax profit. Room rates are rising. The domestic hotel industry has seen good improvement in the last 2-3 years. Recent statistics are impressive and the momentum looks sustainable. Last year, the average occupancy rate (AOR) was 85% and the average room rate (ARR) was S$164.40 (+20% YoY). For the first four months of 2007, the momentum stayed strong and based on the statistics from the Singapore Tourism Board (STB), ARR stayed above the S$190 level for two months in a row (Mar and Apr). At an average of S$193.15, this is up 17% from last year's average (as a comparison, this is an almost doubling from the low in 2003 of about S$105). Another positive indicator is that revenue per available room (RevPAR) was at S$161.... More About: Selling
capella university
2007-06-01 15:15:00 Everyone knows how the internet has reached from the remote areas to the city and how it has been growing by leaps and bound. Now practically anyone can have access to the internet. capella university knew that they could reached students from all over the world and have been servcing students online since 1993. There have been a number of students and faculty member been showcased on the capella university website. These are true to life case of how the individual have benefitted taking up degree programmes at the university. Take Sara Orem, faculty member in the online university?s School of Business and Technology, co-authors book titled ?Appreciative Coaching: A Positive Process for Change?. She recognized that being a fully online university, has its advantages. Founded in 1993 the univesity has decided that providing an online service it has been able to reach to students from all over the world and currently there are students from 56 countries. The number of students has pa... More About: University , Cape , Pella , Univ , Ella
Spore Health Sector
2007-06-01 15:15:00 1 June 2007Singapore Heal th care Sector (OVERWEIGHT - Upgraded)Sector update - Back in the pink of healthby Gary NgRegulatory changes to healthcare financing schemes in Singapore haveboosted private medical expenditure. We believe Singapore's immigrationboom can provide another growth driver for the healthcare sector. Patientloads should also be bolstered by the government's target of serving 1mforeign patients a year by 2012. The ability to create beds andearnings-related capacity would raise the ceiling for growth. Apart fromgrowth in Singapore, private healthcare operators also have the leverageand scalability to expand overseas. Healthcare service providers trade atan average 20.5x CY08 P/E, with a 3-year revenue CAGR of 28%. We expect thesector to deliver total returns that would outperform the STI for CY08 withan average sector return of 15%. Upgrade to Overweight from Underweight,with Parkway as our top pick.Full Report [ Click here ]or the URL belowhttp://www.gohdirect.com/... More About: Spor , Spore
China Market
2007-06-01 15:14:00 Chinese shares rebounded slightly from Wednesday's plummet on Thursday,withthe benchmark Shanghai Composite Index closing at 4,109.65 points, up 56.56points, or 1.4 percent, from the previous close. The index, which tracksboth d A shares and B shares traded on the Shanghai Stock Exchange, closedat 4,053.09 points following a 6.5 percent slump on Wednesday. In theShanghai market, prices of 203 stocks went up, 576 fell and 61 ended flat.In the market of Shenzhen, 136 closed up, 397 went down and 78 ended flat.The analysts said that the central government will not stop support to thehealthy development of the capital market. After all, China 's stock marketis still lagging behind the speed of its economic growth and needs furtherexploration and policy support. We expect the market index will open low,then keep the oscillation around 4,200 with the struggle between the buyside and sale side during the last trade day of this week. Without big goodnews, some investors would like take the... More About: Market , Mark
capella university
2007-06-01 15:12:00 There have been a number of students and faculty member been showcased on the capella university website. These are true to life case of how the individual have benefitted taking up degree programmes at the university. Take Sara Orem, faculty member in the online university?s School of Business and Technology, co-authors book titled ?Appreciative Coaching: A Positive Process for Change?. She recognized that being a fully online university, has its advantages. Founded in 1993 the univesity has decided that providing an online service it has been able to reach to students from all over the world and currently there are students from 56 countries. The number of students has pass the 17,900 mark and still growing. With online studying this number will continue to grow and they are expecting more students to join their programmes. Just image a vitual class, that is what an online class is like. More About: University , Cape , Pella , Univ , Ella
Regional Morning Meeting Notes, June 01, 2007
2007-06-01 15:11:00 CHINA Should start building positions to benefit from run-up to Hong Kong's July 1 celebration of its 10th anniversary return to China. Century Sunshine (BUY/HK$1.96/Target: HK$2.96) Ramp-up of new plant and upcoming M&As are near-term catalysts. Shimao Property (HOLD/HK$17.60/Fair: HK$19.00) Speeds up landbank replenishment after share placement in early-May. Denway Motors (HOLD/HK$3.42/Fair: HK$3.20) Accord's April sales improve thanks to unofficial discounts, but still dhas not taken back leadership from Camry. INDONESIA Holcim Indonesia (BUY/Rp740/Target: Rp860) With improving cement demand and stronger earnings prospect, we upgrade the stock from HOLD to BUY. Bakrie & Brothers (NOT RATED/Rp300) Market is excited about the huge Malaysian US$7b oil pipeline project, but there are formidable practical challenges ahead. MALAYSIA UEM World (BUY/RM3.84/Target: RM7.00) 1Q07: Results in line. Construction and cement divisions record good performances. SINGAPORE Fibrechem Technolo... More About: Regional , June , Notes , Morning , Gion
Sino Environment Technology Group
2007-06-01 15:10:00 New MOU with Huadian Sino-Environment (SINE) has signed a memorandum of understanding (MOU) with Huadian Quanzhou Shishi (Huadian Quanzhou) to construct desulphurisation/denitrogentation and waste water treatment facilities for a new 2x600MW power plant in Quanzhou, Fujian. SINE estimates the contract value to be Rmb300m-400m and the project to be completed in 18 to 24 months. Information on the project is patchy as technical evaluation is still ongoing. As the first phase of the construction is scheduled to commence in 2008/09, we expect SINE to start work and recognise revenue only from 2008 onward. This is the second MOU that SINE has announced in 2007. With all coal-fired power plants required to install desulphurisation equipment, we look forward to more desulphurisation project from SINE More About: Technology , Group , Iron , Ology
capella university
2007-06-01 15:07:00 Capella Univ ersity ?s executive management team launched an initiative to improve the organization?s use of its data resources in order to better manage the performance of the university. capella university an online university is growing by numbers and have now reached a student population of more than 17,900 students, has released its latest Inside Online Education podcast. Featured on the podcast was Dr. Carla Thomas, a family physician in Anniston, Alabama, who is pursuing a PhD in healthcare administration at Capella. Dr. Thomas discusses her ambition to one day become U.S. surgeon general. Check out the podcast RSS feed at capellacommons.com/rss/. The University with its 82 graduate and undergraduate specializations and 16 certificate programs, is well placed to reach out to all potential students. Time to take up the challenge and get yourself an online degree. More About: Cape , Pella , Ella
Singapore Airport Terminal Srvcs
2007-06-01 15:06:00 Failing to meet modest growth expectations April operating statistics continue to reflect weak and negative growth, depending on the service measured. When combined with company notifications that margins are under pressure and lacking overseas growth, there?s certainly nothing fundamentally strong enough to warrant the stock price?s strong performance. We believe the stock?s strength is due almost solely to marketspeculation about SIA possibly restructuring, and recommend that SIA take advantage of the self-fulfilling scenario and indeed sell at the current high prices. SATS? stock price has risen 30% ytd and 50% since mid-November, despite poor performance and environment, though it has subsided 8% since reaching a high of S$3.52 on 23 Apr 07. Unit services have now fallen (down 1.2% yoy in April) for four consecutive months. Cargo and mail are down 2.7% yoy, the second consecutive month of negative growth. Flights are up 2.6% yoy in April, and passengers handled are up 6.1% on th... More About: Terminal , Singapore , Airport , Airport terminal , Term
Addvalue Technologies
2007-06-01 15:06:00 Niche player in satellite communications Addvalue Technologies provide innovative solutions for digital, wireless and broadband communications. It specialises in design services for satellite communications, tracking and telemetry solutions and digital wireless products. Addvalue has transformed itself by refocusing on satellite communications and has exited the business of marketing and distributing consumer products. In-house design capabilities for satellite communications. Addvalue first penetrated the satellite communications market when it secured a US$4.2m design contract to develop satellite digital audio receiver for US-based Sirius Satellite Radio in Aug 99. The experience gained from the project helped Addvalue secure a US$5m product design and development contract from Inmarsat to develop low-cost pocket-sized Broadband Global Area Network (BGAN) terminals with voice and data capabilities in Oct 02. Addvalue subsequently entered into a Product Supply and Distribution Agr... More About: Value , Logies , Logi
capella university
2007-06-01 15:03:00 Students and faculty members, share their experiences via podcast. Students from capella university share their experience in the unviversity, through regular podcast through interviews. Catch the podcast RSS feed at capellacommons.com/rss/. Over 17,900 students can vouch for their experiences in the university. Yes, that is the number of students that have taken up one of the 82 graduate and undergraduate specializations and 16 certificate programs. The students come from over 50 states and 56 countries. Lessons and research are done online and therefore you could be anywhere in the world, you are able to take a course and complete it online. Founded in 1993, the university has a history of a good reputation. So check out their website as to how to sign up for the courses via online. More About: University , Cape , Pella , Univ , Ella
ST Engineering and others
2007-06-01 15:02:00 ST Engineer ing : Visit to US operational units Singapore Technologies Engineering's (STE) US based companies (VT Miltope, VT LeeBoy, VT Mobile Aero and VT Systems) and generally came away impressed with the management helming the US operations. VT Miltope continues to make headway in its rugged computer segment for the military and is exploring a new growth area in the In-Flight Entertainment (IFE) segment as some budget carriers start exploring IFE to differentiate themselves from competition. For VT LeeBoy, we believe it can sustain its historical 7-10% YoY topline growth as it strengthens its market in the US and explores international markets in China, India and Middle East to ride their construction boom. VT Mobile Aero continues to power ahead with its hangars at almost full capacity and ramping up on the Passenger-to-Freighter (PTF) conversion program. It also started its Total Aviation System (TAS) program which may lead to more lucrative heavy maintenance contracts a few ye... More About: Hers , Erin
Eng Wah, Labroy ..
2007-06-01 15:02:00 Eng Wah, Labroy, Singapore Exchange: Singapore's Equity Preview2007-05-23 20:45 (New York)By Chua Kong HoMay 24 (Bloomberg) -- The following shares may rise or fallin Singapore. Stock symbols are in brackets and prices are fromthe previous market close.The Straits Times Index added 0.5 percent to 3559.01 to arecord. The May futures contract gained 0.5 percent to 439.4.Boustead Singapore Ltd. (BOCS SP): The provider ofengineering services to the oil and gas industry said profit forthe financial year ended March 31 rose 42 percent from a yearearlier to S$35.2 million ($23 million). Boustead climbed 2 cents,or 1 percent, to S$2.05.Eng Wah Organization Ltd. (ENG SP): The cinema chainoperator will be bought out by biotechnology companyTranscutaneous Technologies Inc. for $450 million in a reversetakeover to gain a listing on the Singapore stock exchange,managing director Goh Min Yen said at a press briefing yesterday.Eng Wah had gained 2 Singapore cents, or 5.2 percent, to 40.5cents on ...
Telecom
More articles from this author:2007-06-01 14:57:00 Playing on population growth and capital management ¾ The telecom sector is a beneficiary of healthy domestic economic outlook, influx of foreign workers & tourists and returns through capital management. ¾ With Singapore?s drive to boost its population to 6.5m in the long term from 4.5m currently, we expect about 100K foreign workers to be added to the population every year, which wouldmainly drive pre-paid business for the three telcos. ¾ According to government projections, the domestic economy is expected to grow at a healthy pace of 5-7% in 2007, mainly led by services growth. Telcos in turn stand to benefit from increased spending by consumers and corporates. ¾ Cash return through capital reduction or special dividends would be a recurring theme. Including regular dividends and capital management, we expect yield in excess of 10% from StarHub and M1 in the next two to three years. Top PickStarHub: StarHub is the leader in pre-paid mobile market with 41% market share and hi... More About: Telecom 1, 2, 3, 4, 5, 6, 7 |
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