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capella university
2007-06-01 14:57:00
The capella university was founded in 1993 and they knew that the best way to reach their students was to go online. With online teaching they is no limitation for the students. They do not have to stick to a fix schedule and can be flexible when come to study time. the university has also been given the opportunity for their students as well as faculty members to express the experience working or studying in 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? The online university is capella university is an accredited,* fully online university that offers graduate degree programs in business, information technology, education, human services, and psychology, and bachelor?s degree programs in business and information technology. Sarem Orem who co-author the book which deals with psychology and organizational development suggest that people and orga...
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Labroy
2007-06-01 14:56:00
Small yard with great ambition ¾ Story: The group plans to further expand its capacity at the existing shipbuilding yard by adding a 15ha site, raising the number of shipbuilding berths from 14 to 17. ¾ Point: The latest contract secured for an accommodation barge for Ezra worth S$39m, will raise total contract wins this year to S$664m and order book to S$2.23bn. The shipbuilding yard is full for deliveries in 2008, and 60% of its building slots for delivery in 2009 is filled. The expanded capacity, when ready in early 2008, will enable the group to undertake more projects for delivery in 2009, which will sustain its longer term growth into FY09. ¾ Relevance: Excess capacity for shipbuilding and rigbuilding in 2009/2010, will place the group in a sweet position to secure more orders, and continue to ride on the upturn. Backed by a record order book, we expect EPS CAGR at 42% from 2005-2008. The stock is trading at undemanding P/E of 14.8x(FY07F) and 12.5x(FY08F), among the cheapest ...

capella university
2007-06-01 04:51:00
This article was found in the Minneapolis newspaper about the capella university an accredited online university having released its latest Inside Online Education podcast. One of the featured broadcast is on a Cape lla PhD student 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. This regular podcast covers students who are working while pursuing a higher education. They share they experiences and it is something that is good for other to hear especially those who are in the same situation and also thinking of furthering their studies. Capella Univ ersity with over 19,000 students is now a small time University. With over 89 graduate and undergraduate specializations and 16 certificate programs. This is something that you should seriously look at.The online university currently serves more than 19,000 students from all 50 states and 56 cou...
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China Energy
2007-06-01 04:50:00
China Energy (CEGY SP / CENR.SI, OUTPERFORM - Maintained, S$1.61, Target:S$1.94)Company update - Energising faster and furtherby Kenneth NgChina Energy is accelerating its capacity expansion six months ahead ofschedule from 1H09 to end-2008. We estimate this would boost its FY09turnover by 42%. CEGY also announced plans to add two new DME plants inNingbo and Tianjin to raise annual production capacity fourfold to 4.6mtonnes by end-2010. Fuelled by the aggressive expansion, we project a5-year revenue CAGR of 91% for FY06-11. We have raised our EPS estimates by1-25% for FY07-09 to factor in higher sales from the accelerated expansion.Our DCF valuation has been lifted from S$2.48 to S$2.78, and our targetprice from S$1.75 to S$1.94, still based on a 30% discount to DCF. Webelieve the implied 16x CY08 P/E is undemanding, given CEGY's 3-year EPSCAGR of 82%. Maintain Outperform.Full Report [ Click here ]or the URL belowhttp://www.gohdirect.com/NASApp/spaf /econtent/sg/ChinaEnergy-250507.p...
More About: China

CSC, DBS ...
2007-06-01 04:49:00
By Chua Kong HoMay 25 (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 fell 0.8 percent to 3530.26. The Mayfutures contract slipped 0.9 percent to 435.5.Shipping companies: The cost of shipping coal and iron orefell by the most in four months as delays ease at Australia'sNewcastle, the world's biggest coal export harbor, and charteringofficials try to rein in demand after rates climbed to a record.Cosco Corp. Singapore Ltd. (COS SP), a bulk carrier andship-repair unit of China's biggest shipping company, fell 4cents, or 1.5 percent, to S$2.65. STX Pan Ocean Co. (STX SP),South Korea's largest carrier of iron ore, grain and otherproducts, fell 1 cent, or 0.5 percent, to S$1.85.CSC Holdings Ltd. (CSC SP): The excavation and pilingcompany said profit for the year ended March 31 more than doubledfrom the previous 12 months to S$8.6 million, boosted by a saleof a propert...

crown condoms
2007-06-01 04:44:00
So who is the king of the condoms? Yes you guess right, crown condoms at the DiscountCondomKing.com they provide discount condoms at wholesale and retail prices to all our customers. Too shy to buy yourself so buy it online. The King offers FREE SHIPPING to all his subjects, and a 5% discount for all repeat customers. They carry all major condom brands including Trojan, Durex, Lifestyles, Kimono and we recommend you try Crown Condoms .Japan?s CROWN skinless condoms, are the thinnest latex condoms in the world at 0.046mm. Its truly one of the best products on the market! You will be spoilt for choice.

Mapletree Logistics Trust: Downgrade on valuation
2007-06-01 04:43:00
Announced S$181m worth of new acquisitions. Maple tree Logi stics Trust (MLT) recently announced three further acquisitions for a total value of S$180.5m. Two of the assets are situated in Malaysia with the third located in Hong Kong. In terms of size, the Hong Kong property is larger, valuing at S$151.0m, while the Malaysian properties collectively make up only about S$29.5m. This new set of acquisitions, together with those completed since its 1Q07 results, means that MLT asset size has increased to S$2.1b. Moreover at S$2.1b, MLT is ahead of its planned asset acquisition of S$1.0b per year or S$1.9b for FY07. Going forward, we do not expect this pace of acquisition to relent anytime soon. Expect 0.19-cent accretion. In 4Q06 MLT successfully raised fresh equity worth about S$349m with the issue of 296.822m new units at a weighted cost of S$1.176 per unit. With the new equity, MLT's gearing has fallen back to about 40% range. More importantly, it means MLT has a total debt capacity ...
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Hotel Grand Central
2007-06-01 04:41:00
Hotel Grand Central (HGC) announced that it has successfully clinched the land parcel at Belilios Road / Klang Lane. HGC is the highest bidder with a price of S$48.9m for the 99-year leasehold site with a land area of 3,087 sqm. The group is likely to develop a 350-400 room hotel on this, with completion likely to be in 2009. This marks HGC's first property foray in Singapore after an extremely long absence from the local property market. In recent years, its property transactions have been largely focused on the Australian and New Zealand markets. As at 31 Mar 2007, HGC has cash and cash equivalents of more than S$84m. We expect this development to be funded by both internal resources and bank borrowings. With the acquisition, there is less likelihood of the group exiting the Singapore hotel sector, where it has only 1 sole hotel asset, as the hotel sector has seen a good recovery in the recent 1-2 years with a pick-up in both occupancy and room rates. At this moment, we are retai...
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Regional Morning Meeting Notes, May 29, 2007
2007-06-01 04:34:00
CHINAPorts Design (HOLD/HK$23.90)Despite the solid growth momentum, wide national network and high margin,the stock is fully priced.Initiate coverage with HOLD.TechnicalCoslight ? Trading Buy ahead of the listing of the Tianneng Power, abattery peer.MALAYSIAMonetary PolicyThe overnight policy rate was again left unchanged at 3.50% with thelikelihood it will remain at this level by end-07.Carotech (SELL/RM0.64/Fair: RM0.62)3QFY07: Net profit of RM3.1m, -35% qoq and -4.7% yoy, is belowexpectation.Lower contribution from biodiesel due to delay in shipment.Malaysian Plantations (BUY/RM2.98/Target: RM3.10)FY07: Net profit of RM107m, turnaround from a loss in FY06. Resultsbetter than expected.Improvement came from operation and lower provision.SINGAPOREChina Milk Products (BUY/S$1.28/Target: S$2.00)FY07: Results in line. Reduce target price due to lower contribution fromOEM dairy businessDelong Holdings (HOLD/S$3.36)Steel & iron sector update.THAILANDLand and Houses (HOLD/Bt6.75)Cut o...
More About: Regional , Notes , Morning , Gion , Meeting

Hayfield Dental Care
2007-06-01 04:34:00
Since 1987 Hayfield Dental Care has been serving the residents of Alexandria and the surrounding areas. Till to date they have seen over 23,000 different patients. The group of dentist at the Dental Care have received advanced training or speciality training and that is why they can perform almost all procedures without the need to make referrals. The services at Hayfield Dental Care include general, family and cosmetic dentistry. Additionally, Hayfield Dental Care employs a full time specialist in orthodontics. Orthodontic consultations are provided at no charge for both children and adults. All of the dentists at Hayfield Dental Care have perfect records with the Virginia Board of Dentistry with a history of zero complaints. So if you are in need of dental care check them our at their website. So happy smiling.
More About: Field

Pan United
2007-06-01 04:33:00
Takeover at S$2.38 does not fully reflect the current prospects ¾ Story: Dubai Drydocks World LLC (DD World), a member of Dubai World, is making a voluntary conditional cash offer for Pan- Unit ed Marine (PANU) at S$2.38 per share. The offer stands at a 13% discount to our target price of S$2.75. ¾ Point: DD World has received irrevocable undertakings for 70% of the shares from the controlling shareholders of PANU to accept the Offer. DD World intends to make PANU a 100%-owned subsidiary and does not intend to preserve its listing. ¾ Relevance: We think that the offer is not attractive given the robust operating environment as the offer prices PANU at 14.3x and 12.1x on FY07F and FY08F earnings. Excluding cash, the offer prices PANU at 11x and 9.6x on FY07F and FY08F earnings. The offer at S$2.38 per share stands at a 3% premium to the last traded price of S$2.31 and a 13% discount to our target price of S$2.75. Our target price of S$2.75 is based on 14x for shiprepair and 10x for sh...

capella university
2007-06-01 04:31:00
capella university an accredited, online university with more than 19,000 students, has been taking in students from all over the world because on the online services it provides. The latest in the newms at the Univ ersity is its launch of it podcast. The podcast has featured a number of students that have been working while pursuing their hgiher education. One such student is Carla Chladek about her work as Program Manager for the Joint Staff Training Program at the Pentagon. Chladek, who is pursuing a master?s degree in education at Cape lla, is responsible for ensuring that the training needs are met for the 2,000 military members who support the Chairman of the Joint Chiefs of Staff. This online has been offering graduate degree programs in business, information technology, education, human services, public safety, and psychology, and bachelor?s degree programs in business, information technology, and public safety. There are up to 89 graduate and undergraduate specializations an...
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Delong
2007-06-01 04:30:00
Delong Holdings (DLNG SP / DELO.SI, OUTPERFORM - Upgraded, S$3.36, Target:S$4.70)Company visit - Rolling good timesby Kenneth NgDuring our visit to Delong last week, management provided updates on itscapacity expansion and long-term goal of establishing itself as a top-20steel manufacturer in China by 2010. Armed with a war chest of US$200m fromits recent convertible bond issue, Delong is seeking acquisition targets.It aims to have 10m mt by 2010 via acquisitions and capacity upgrade. Anyindustry consolidation would provide opportunities for Delong to acquireinefficient plants at lower prices. We are upgrading our earnings forecastsby 15.6-133.8% for FY07-09 to reflect Delong's accelerated expansion. Ournew FY07-08 earnings forecasts are 16% and 49% above market consensus. Weupgrade the stock to Outperform from Neutral with a new target price ofS$4.70 following our earnings upgrade (previously S$3.40, adjusted forshare consolidation).Full Report [ Click here ]or the URL belowhttp:/...

Want Want
2007-06-01 04:29:00
Want Want Holdings (WANT SP / WANT.SI, NEUTRAL- Maintained, US$2.27,Target: US$2.30)Quick takes - Voluntary delistingby Gary NgWant Want has announced that its chairman, Mr Tsai Eng Meng, is offeringUS$2.35 cash for shares in the company he does not already own, with theobjective of delisting Want Want. The delisting proposal would allow thegroup to restructure its non-core assets and make necessary capitalinvestments without burdening public shareholders or subjecting them tofurther undue share-price volatility. Our target price is unchanged atUS$2.30, pegged at 15.3x CY08 P/E. Since it is clear that the privatisationprice will not be higher than US$2.35, the limited upside from currentlevels warrants a Neutral call. We advise investors to take the offer.Full Report [ Click here ]or the URL belowhttp://www.gohdirect.com/NASApp/spaf /econtent/sg/WantWant-QT-290507.pdf

capella university
2007-06-01 04:27:00
This article was found in the Minneapolis newspaper about the capella university an accredited online university having released its latest Inside Online Education podcast. One of the featured broadcast is on a Cape lla PhD student name Carla Chladek from the Pentagon who is pursuing a master's degree in education at capella university. This regular podcast covers students who are working while pursuing a higher education. They share they experiences and it is something that is good for other to hear especially those who are in the same situation and also thinking of furthering their studies. Capella Univ ersity with over 19,000 students is now a small time University. With over 89 graduate and undergraduate specializations and 16 certificate programs. This is something that you should seriously look at.The online university currently serves more than 19,000 students from all 50 states and 56 countries. It is committed to providing high-caliber academic excellence and pursuing balan...
More About: Pella , Ella

China Milk Products Group
2007-06-01 04:26:00
Growth is still driven by semen and embryos FY07 results are mostly in line. Revenue and net profit grew 47% and 41% yoy respectively. If we exclude the non-cash items (finance costs-rmb33.9m and fair value gain-rmb7.9m) relating to the convertible bonds, net profit would have grown 48% instead and exceeded our forecast of rmb386m.Raw milk production fell short of our expectations. While most of the revenue items were close to our forecast, raw milk sales were actually below our forecast. With a total production volume of 30,271 ton for FY07, we estimate that 4Q07 production/sales is around 9,000 ton, which is below our expectation of 12,000-13,000 tonHiccup in the OEM dairy processing business. Management has guided that for dairy processing plant to commence operation in Nov 07 instead May 07. Furthermore, C Milk is raising the production capacity of the plant from 50,000 ton to 100,000 ton according to the request of the OEM customer. Based on the raw milk production volume in 4Q...
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Tat Hong
2007-06-01 04:25:00
Strong organic growth ¾ Story: Tat Hong Holdings (THH) reported a better than expected set of FY07 results. THH?s headline net profit rose 78% y-o-y to S$79.0m in FY07, vs. our projection of S$73.8m. This wasachieved on the back of an 18% y-o-y growth in revenue to S$482.5m in FY07. ¾ Point: THH?s strong earnings growth in FY07 was mainly driven by rental rates increase (+10% y-o-y) and higher selling prices for cranes in the secondary market (+>20% y-o-y). Thisunderlines the strong regional demand for crawler cranes, as booming infrastructure and construction projects continue to drive better yields for THH?s crane fleet. Relevance: We have adjusted our fair value estimate upwards by 63 cents per share to S$2.28. This is due to the upgrade of our FY09 EPS estimate by 0.2 cents per share to 14.3 cents, so as to factor in THH?s consistently strong business execution in FY07. We have also used a higher 16x forward PER (vs. 13x previously), which was crosschecked against 0.7x PEG ratio...

Food Scale
2007-06-01 04:21:00
Did you know that there a number of Food Scale in the market. Yes, you have scales that can weigh from fractions of a gram to hundreds of pounds. There are the pocket, bathroom, shipping, kitchen?if you need to know a weight, we have the scale to tell you! Weighing now is reliable, accurate, and discount priced, the digital scales sold by ScalesEtc.com come in a variety of types to satisfy any needs. There are 4 colors that you can choose from from the Palmscale 6.0 digital pocket scales, as well as kitchen, counting, bathroom, and shipping scales. Expect good service, good prices, and quality products.

Sembcorp Marine
2007-06-01 04:20:00
Sembcorp Mari ne (SMM SP/ SCMN.SI, OUTPERFORM - Maintained, S$4.48 -Target: S$4.96)Quick takes - Winning more and fasterby Lim Siew KheeSembCorp Marine's order book continue to swell as it secured a US$221mheavy lift vessel contract from Avonway Ltd, Cyprus, a subsidiary ofNorwegian Nordic Heavy Lift ASA. The contract brings new orders YTD toS$4.2bn and order book to about S$8.8bn. We believe our new ordersassumption of S$4.5bn for the year is likely to be exceeded, which couldstretch its earnings growth until 2010. The value of this contract ishigher by about 50% from the last heavy lift vessel that SembMarine securedin 2005 from SapuraCrest Petroleum, suggesting better leverage and marginexpansion. Maintain Outperform, target price raised to S$4.96, based onblended valuations and the rolling forward of our P/E peg to CY08 earnings.Full Report [ Click here ]or the URL belowhttp://www.gohdirect.com/NASApp/spaf /econtent/sg/SembCorpMarine-QT-290507.pdf

Synear food Holdings
2007-06-01 04:19:00
Pork price & new regulation of frozen foodRecently the price of the company has fluctuated tremendously. Webelieve there could be two reasons for the fluctuation, the rising porkprice and the new regulation of frozen food. However, we do not believethose two items would affect the company's sales and profit margin.Rising pork price. Despite the rising pork retail price has gone up 50%in some areas in China, the cost of pork purchased by the company inZhengzhou has just gone up by 20% recently. And the pork price onlyaccounted for approximately 15% to 20% of the overall cost of rawmaterials and the cost of raw materials account for approximately 85% ofthe overall cost of sales. Therefore, the pork cost accounts for 12.75%to 17% of the total COGS. In addition, the flour price has also goneup by around 5% while the other raw material prices have been stable.The company expects that the overall cost of raw material price willincrease by 5% in 2007. Thus, the company has already sta...
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capella university
2007-06-01 04:10:00
capella university an accredited, online university with more than 19,000 students, has been taking in students from all over the world because on the online services it provides. The latest in the newms at the Univ ersity is its launch of it podcast. The podcast has featured a number of students that have been working while pursuing their hgiher education. One such student is Carla Chladek about her work as Program Manager for the Joint Staff Training Program at the Pentagon. Chladek, who is pursuing a master?s degree in education at Cape lla, is responsible for ensuring that the training needs are met for the 2,000 military members who support the Chairman of the Joint Chiefs of Staff. This online has been offering graduate degree programs in business, information technology, education, human services, public safety, and psychology, and bachelor?s degree programs in business, information technology, and public safety. There are up to 89 graduate and undergraduate specializations an...
More About: Pella , Ella

Dow Jones
2007-06-01 04:09:00
0630 GMT [Dow Jones ] STI down 0.2% at 3507.36, led by property heavyweightsplus Venture (V02.SG), SIA (S55.SG), Creative (C76.SG); next support at3475 (May 15 close) if 3500 gives way. Penny stocks dominate trade inbroader market; Ban Joo (B07.SG) down 13.3% at S$0.13, Digiland (G77.SG)+12.5% at S$0.045, EI-Nets (5AJ.SG) +12.5% at S$0.045. "I think you havetobe careful with the small caps because of the latest proposals from theSGX. There''s a whole list of stocks which may be delisted as theyshouldn''t be there in the first place," says dealer at foreign brokerage.SGX last week proposed listing rule revamp which, among other things, willresult in delisting if any loss-making company fails to turn around.(FKH)

Willas-Array Electronics
2007-06-01 04:07:00
Positive 2H07 earnings. Willas-Array Electronics (WAE) posted a very positive set of 2H07 results. Revenue was down just 2% HoH at HK$1.09b and but up 8.5% YoY, despite it being a seasonally slower half due to the Chinese New Year break. Management attribute this to a stronger-thanexpected pick-up in orders in late Feb and early Mar. Sales would have been much better if not for the tight market supply in some components. While net profit fell 20.1% HoH to HK$18.3m, it was up 1.2% YoY, and nearly 20.5% ahead of our forecast. For the full year, revenue rose by 5.7% to HK$2.20b, about 9.1% shy of our forecast, as business was still hampered by the tight supply of certain components. Nevertheless, due to the exceptional performance in 1H07, net profit shot up 70.1% to HK$41.3m, or about 8.2% above our forecast. For FY07, WAE declared a first and final dividend of S$0.013 per share, as well as a special dividend of S$0.003 to celebrate its 25th anniversary. FY08 outlook still positive. F...
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capella university
2007-06-01 03:57:00
This article was found in the Minneapolis newspaper about the capella university an accredited online university having released its latest Inside Online Education podcast. One of the featured broadcast is on a Cape lla PhD student name Carla Chladek from the Pentagon who is pursuing a master's degree in education at capella university. This regular podcast covers students who are working while pursuing a higher education. They share they experiences and it is something that is good for other to hear especially those who are in the same situation and also thinking of furthering their studies. Capella Univ ersity with over 19,000 students is now a small time University. With over 89 graduate and undergraduate specializations and 16 certificate programs. This is something that you should seriously look at.
More About: Pella , Ella

Chemoil, Xpress,United Engineers
2007-06-01 03:56:00
By Chua Kong Ho May 30 (Bloomberg) -- The following shares may rise or fall in Singapore. Stock symbols are in parentheses and prices are from the previous market close. The Straits Times Index rose 0.4 percent to 3527.08. The June futures contract fell 0.1 percent to 434.6. Exporters: The New York-based Conference Board's index of consumer confidence rose to 108 this month from a revised 106.3 in April, a five-month low. Economists surveyed by Bloomberg forecast a reading of 105. The index averaged 105.9 last year. Singapore ships about a fifth of its products to the U.S., its largest export market. Chartered Semiconductor Manufacturing Ltd. (CSM SP), which makes chips used in Microsoft Corp.'s Xbox 360 game console and Apple Inc.'s video iPod, slid 1 cent, or 0.8 percent, to S$1.28. Venture Corp Ltd. (VMS SP), which supplies printers for Hewlett- Packard Co., the world's largest personal-computer maker, fell 30 cents, or 1.9 percent, to S$15.80. China-related shares: China t...
More About: United , Engineers , Engineer , Xpress , Chem

Straits Asia
2007-06-01 03:55:00
30 May 2007 Stra its Asia Resources (SAR SP / SAR SI, NEUTRAL - Maintained, S$1.21 - Target: S$1.20) Quick takes - Time to realise reserves by Robert Adair Increases in our benchmark coal price assumptions have resulted in sizeable 28-32% gains in Straits Asia's FY07-08 EPS. However, we are leaving our DCF-based target price for the company unchanged, at S$1.20. This target price had been based on the generous assumption that Straits Asia's future coal reserves would exceed 200m tonnes (compared to the 28m tonnes available at Dec 06). By leaving our DCF target unchanged, we are now assuming Straits Asia's reserves increase to 180m tonnes - still a relatively aggressive assumption. We believe the company needs to prove up reserves before further gains in its share price are justified. Full Report [ Click here ] or the URL below http://www.gohdirect.com/NASApp/spaf/econ tent/sg/StraitsAsia-QT-300507.pdf
More About: TRAI

capella university
2007-06-01 03:40:00
This articel was found in the Minneapolis newspapers on May 10, 2007, about a person who did their master's degree at capella university and has been awarded the 2006 FBI Director?s Community Leadership Award. Cape lla is an accredited online university. How would you like to be that person, to have your master's degree online while you work. Capella Univ ersity founded in 1993 was designed to provide graduate degree programme in business, information technology, education, human services, and psychology. They have grown and included he master's programme and now offers 82 graduate and undergraduate specializations and 16 certificate programs. So check put Capella University as a place for your to further your education and always remember that it is never too late or too old for your to study.
More About: Pella , Ella

cancun all inclusive
2007-05-29 14:23:00
Now is the time to catch up on some rest, go for a holiday somewhere you can get away from it all. Check out vacantions.net the leader in the all-inclusive travel experience, launches a newly redesigned website with a customized booking engine and intuitive functionality that sets it above its competitors. This website will help you plan for the long waiting vacation. They have a customized search engine that you can use to plan your journey and what more it is free. Now for the next surprise, you can get 50% of the regular prices by picking the vacations at vacations.net website. Yes 50% of the regular prices. It is a one-stop website for all your travel needs, whether travelling alone or in a group there is something that will suit you. Going to places that your are familiar with or even exotic places or even places that you never heard of except in the movies like Singapore. Yes you can find Singapore or a cancun all inclusive at the website.
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Want Want Holdings (WANT SP / WANT.SI, NEUTRAL- Maintained, US$2.27,
2007-05-29 14:22:00
Want Want Hold ings (WANT SP / WANT.SI, NEUTRAL- Maintained, US$2.27,Target: US$2.30)Quick takes - Voluntary delistingby Gary NgWant Want has announced that its chairman, Mr Tsai Eng Meng, is offeringUS$2.35 cash for shares in the company he does not already own, with theobjective of delisting Want Want. The delisting proposal would allow thegroup to restructure its non-core assets and make necessary capitalinvestments without burdening public shareholders or subjecting them tofurther undue share-price volatility. Our target price is unchanged atUS$2.30, pegged at 15.3x CY08 P/E. Since it is clear that the privatisationprice will not be higher than US$2.35, the limited upside from currentlevels warrants a Neutral call. We advise investors to take the offer.Full Report [ Click here ]or the URL belowhttp://www.gohdirect.com/NASApp/spaf /econtent/sg/WantWant-QT-290507.pdf
More About: Holdings

Sembcorp Marine (SMM SP/ SCMN.SI, OUTPERFORM - Maintained, S$4.48 -
2007-05-29 14:20:00
Sembcorp Mari ne (SMM SP/ SCMN.SI, OUTPERFORM - Maintained, S$4.48 -Target: S$4.96)Quick takes - Winning more and fasterby Lim Siew KheeSembCorp Marine's order book continue to swell as it secured a US$221mheavy lift vessel contract from Avonway Ltd, Cyprus, a subsidiary ofNorwegian Nordic Heavy Lift ASA. The contract brings new orders YTD toS$4.2bn and order book to about S$8.8bn. We believe our new ordersassumption of S$4.5bn for the year is likely to be exceeded, which couldstretch its earnings growth until 2010. The value of this contract ishigher by about 50% from the last heavy lift vessel that SembMarine securedin 2005 from SapuraCrest Petroleum, suggesting better leverage and marginexpansion. Maintain Outperform, target price raised to S$4.96, based onblended valuations and the rolling forward of our P/E peg to CY08 earnings.Full Report [ Click here ]or the URL belowhttp://www.gohdirect.com/NASApp/spaf /econtent/sg/SembCorpMarine-QT-290507.pdf
More About: Form , Perform