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| Stock |
Code |
i |
Rmk |
Ccy |
Last |
|
$Chng |
%Chng |
Vol |
Buy Vol |
Buy |
Sell |
Sell Vol |
Open |
Previous |
Day Hi |
Day Lo |
Ind |
Sector |
Mkt |
Off Code |
Feed Code |
COC BB |
COC LD |
COC BS |
| THBEV |
Y92 |
i |
-- |
SGD |
0.290 |
|
+0.005 |
+1.8 |
310,121,000 |
8,740,000 |
0.285 |
0.290 |
2,654,000 |
0.285 |
0.285 |
0.300 |
0.285 |
M |
-- |
SGX |
Y92 |
TBEV.SI |
-- |
-- |
-- |
| Genting SP |
G13 |
i |
-- |
SGD |
1.950 |
|
-0.070 |
-3.5 |
169,089,000 |
2,466,000 |
1.950 |
1.960 |
3,485,000 |
2.000 |
2.020 |
2.020 |
1.930 |
M |
-- |
SGX |
G13 |
GENS.SI |
-- |
-- |
-- |
| e Genting HK US$ |
S21 |
i |
-- |
USD |
0.430 |
|
-0.045 |
-9.5 |
140,615,000 |
2,351,000 |
0.430 |
0.435 |
1,772,000 |
0.475 |
0.475 |
0.480 |
0.425 |
M |
-- |
SGX |
S21 |
GENH.SI |
-- |
-- |
-- |
| Informatics |
I03 |
i |
-- |
SGD |
0.170 |
|
-0.005 |
-2.9 |
84,322,000 |
11,216,000 |
0.170 |
0.175 |
3,831,000 |
0.180 |
0.175 |
0.185 |
0.170 |
C |
-- |
SGX |
I03 |
INFO.SI |
-- |
-- |
-- |
| UniFiber |
P30 |
i |
-- |
SGD |
0.055 |
|
-0.010 |
-15.4 |
81,532,000 |
26,088,000 |
0.055 |
0.060 |
10,631,000 |
0.065 |
0.065 |
0.065 |
0.055 |
C,M |
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| Stock |
Code |
i |
Rmk |
Ccy |
Last |
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$Chng |
%Chng |
Vol |
Buy Vol |
Buy |
Sell |
Sell Vol |
Open |
Previous |
Day Hi |
Day Lo |
Ind |
Sector |
Mkt |
Off Code |
Feed Code |
COC BB |
COC LD |
COC BS |
| THBEV |
Y92 |
i |
-- |
SGD |
0.290 |
|
+0.005 |
+1.8 |
310,121,000 |
8,740,000 |
0.285 |
0.290 |
2,654,000 |
0.285 |
0.285 |
0.300 |
0.285 |
M |
-- |
SGX |
Y92 |
TBEV.SI |
-- |
-- |
-- |
| Genting SP |
G13 |
i |
-- |
SGD |
1.950 |
|
-0.070 |
-3.5 |
169,089,000 |
2,466,000 |
1.950 |
1.960 |
3,485,000 |
2.000 |
2.020 |
2.020 |
1.930 |
M |
-- |
SGX |
G13 |
GENS.SI |
-- |
-- |
-- |
| e Genting HK US$ |
S21 |
i |
-- |
USD |
0.430 |
|
-0.045 |
-9.5 |
140,615,000 |
2,351,000 |
0.430 |
0.435 |
1,772,000 |
0.475 |
0.475 |
0.480 |
0.425 |
M |
-- |
SGX |
S21 |
GENH.SI |
-- |
-- |
-- |
| Informatics |
I03 |
i |
-- |
SGD |
0.170 |
|
-0.005 |
-2.9 |
84,322,000 |
11,216,000 |
0.170 |
0.175 |
3,831,000 |
0.180 |
0.175 |
0.185 |
0.170 |
C |
-- |
SGX |
I03 |
INFO.SI |
-- |
-- |
-- |
| UniFiber |
P30 |
i |
-- |
SGD |
0.055 |
|
-0.010 |
-15.4 |
81,532,000 |
26,088,000 |
0.055 |
0.060 |
10,631,000 |
0.065 |
0.065 |
0.065 |
0.055 |
C,M |
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♦
According to management, Maybank was allowed to declare a higher dividend payout this year (FY10: 76.5% vs. FY09: 61.4%, based on reported net profit) given its DRP that it has in place.
Specifically, the discount (of up to 10% to the volume weighted average market price) for the new shares could make it more attractive for shareholders to opt for the reinvestment plan, mitigating the impact of the higher payout on shareholders’ equity.
As mentioned previously, we think shareholders’ decision on whether to elect for the DRP would depend on their view on Maybank’s share price outlook as well as the discount to VWAMP.
Assuming current market conditions hold, a higher discount would increase the attractiveness of the DRP as compared to the net DPS of 30 sen (electable portion), if shareholders opt to receive cash.
Assuming the entire electable portion of the dividend is converted into shares, we estimate this could enlarge Maybank’s share capital base by 4%. DRP.
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♦ 4QFY06/10 results within expectations ... Maybank’s 4Q results were within our (upper-end) and consensus estimates with FY10 net profit of RM3.8bn (+75% yoy, core basis) accounting for 105% of our and 102.5% of consensus full-year forecasts. Note that Maybank made some preemptive provisioning in the tune of RM334m during the quarter, excluding which, the results would have been even stronger.
♦ … with net profit down 11% qoq but up 49% yoy (core basis).
QoQ, net profit fell 11% due to lower non-interest income (-9.6% qoq due to lumpy items recognised in 3Q10) and higher LLP (+44.4% qoq due to pre-emptive provisioning), cushioned by stronger net interest income (+7% qoq). YoY, net profit surged 49% (based on core profits) thanks mainly to lower LLP (-60.2% yoy). This was despite the pre-emptive provisioning, which was offset by higher recoveries and lower provision for other debts.
♦
Loan growth picked up momentum with qoq and yoy growth of 4.4% and 10.3% respectively (3Q10: 0.7% qoq; 5.9% yoy).
♦
Gross and net NPL as well as LLC ratios improved (see Table 4).
♦
Maybank declared a higher-than-expected final gross DPS of 44 sen (4QFY09: 8 sen gross), as compared to our expected gross DPS of 18 sen. This comprises an electable portion of 40 sen (gross), which can be elected to be reinvested in new Maybank shares. For the full-year, total gross DPS was 55 sen (FY09: 8 sen), which translates to a net payout ratio of 76.5%.
♦
We have fine-tuned and updated our FY11-12 earnings forecasts post the full-year results. We introduce our FY13 numbers.
♦
Our fair value has been raised by 2% to RM9.86 based on unchanged 15x (benchmark) CY11 EPS. In our view, valuations remain decent with strong organic growth expected from the domestic operations as well as BII. Hence, the negative impact from the expensive acquisitions (of BII and MCB) would be more than nullified with FY11 EPS expected to exceed pre-acquisition levels. Maintain Outperform. Investment case. Forecasts. Dividend. Asset quality improved.
Domestically, gross loans expanded by 4.2% qoq (+11% yoy) mainly due to an expansion in corporate loans while overseas loans grew by 4.8% qoq (+8.8% yoy), largely driven by strong growth over at BII (+16.5% qoq; +37.7% yoy). Unadjusted NIM expanded by 16bps qoq (+14bps yoy) while credit cost was roughly stable qoq at 11bps (3Q10: 10bps; 4Q09: 22bps). CIR was also broadly stable qoq at 49.7% (3Q10: 49.1%) but higher as compared to 47.8% in 4Q09. Results highlights.
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Top Glove:
¨ Expect weaker earnings qoq.
¨ Fair value is lowered to RM5.30 (from RM6.90). Downgrade to Underperform.
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HONG KONG (Dow Jones)--MGM China Holdings Ltd., MGM Resorts International's
(MGM) joint venture with a daughter of Macau gambling tycoon Stanley Ho, said
Monday it has filed an application to list its shares in Hong Kong.
The company has filed an A1 Form, the first formal step in declaring intent
to list in Hong Kong. If a company gains listing approval, the next steps
typically involve pre-marketing followed by a roadshow.
"There have not been any decisions made regarding the timing or terms of any
such listing or whether MGM China Holdings Ltd will ultimately proceed with
such a transaction or whether the proposed transaction will ultimately be
approved by the Hong Kong Exchange," MGM Resorts said in a filing to the U.S.'s
Securities and Exchange Commission.
BNP Paribas (BNP.FR), Bank of America-Merrill Lynch, JPMorgan Chase & Co.
(JPM) and Morgan Stanley (MS) are the bankers on the deal, which seeks to raise
about US$500 million, people familiar with matter told Dow Jones Newswires
earlier.
Wynn Resorts Ltd. (WYNN) and Las Vegas Sands Corp. (LVS) both had initial
public offerings of their Macau assets in Hong Kong last year to form Wynn
Macau Ltd. (1128.HK) and Sands China Ltd. (1928.HK). The three other casino
operators in Macau, the only city in China where gambling is legal, are SJM
Holdings Ltd. (0880.HK), Galaxy Entertainment Ltd. (0027.HK) and Melco Crown
Entertainment Ltd. (MPEL).
-By Kate O'Keeffe, Dow Jones Newswires; 852-2802-7002;
kathryn.okeeffe@dowjones.com
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Dividend History
Maybank has a long-term dividend policy of a 40-60% dividend payout ratio based on reported net profit attributable to shareholders.
For the past financial year, the share paid a final gross dividend of 8 sen (6 sen net) per share. This translates to a payout ratio of 61%. Maybank has managed to adhere to its dividend policy even through difficult economic times.
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Dividend History
Maybank has a long-term dividend policy of a 40-60% dividend payout ratio based on reported net profit attributable to shareholders.
For the past financial year, the share paid a final gross dividend of 8 sen (6 sen net) per share. This translates to a payout ratio of 61%. Maybank has managed to adhere to its dividend policy even through difficult economic times.
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EX-date : 02/03/2010
Entitlement date : 04/03/2010
Entitlement time : 05:00:00 PM
Entitlement subject : Interim Dividend
Entitlement description : Interim Dividend of 11 sen per share less tax 25%
Period of interest payment : to Financial Year End : 30/06/2010
Share transfer book & register of members will be : 05/03/2010 to 05/03/2010 closed from (both dates inclusive) for the purpose of determining the entitlements
Registrar's name ,address, telephone no : SHARE REGISTRATION
CORPORATE & LEGAL SERVICES
14TH FLOOR MENARA MAYBANK
100 JALAN TUN PERAK
50050 KUALA LUMPUR
Payment date : 16/03/2010
a. Securities transferred into the Depositor's Securities Account before 4:00 pm in respect of transfers : 04/03/2010
b. Securities deposited into the Depositor's Securities Account before 12:30 pm in respect of securities exempted from mandatory deposit : 02/03/2010
c. Securities bought on the Exchange on a cum entitlement basis according to the Rules of the Exchange.
Number of new shares/securities issued (units) (If applicable) :
Entitlement indicator : Currency
Currency : Malaysian Ringgit (MYR)
Entitlement in Currency : 0.11
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Genting pays New York US$380m for parlor
Genting Malaysia Bhd paid New York state US$380 million to develop an electronic slot machine parlor at New York City’s Aqueduct Racetrack, US$80 million more than the minimum specified by the state. The payment by the Kuala Lumpur, Malaysia-based company arrived five days before the due date. New York state plans to sell US$250 million of bonds backed by its personal income tax to help finance the project, said Erik Kriss, a spokesman for the Budget Division. “After almost a decade of delay, this project is finally becoming a reality and all New Yorkers will benefit,” Governor David Paterson said in a statement. The payment exceeded the US$300 million assumed by lawmakers in the state budget, which closed a US$9.2 billion gap. Similar assumptions in previous years were inaccurate. The state expects the video-lottery machines will produce more than US$279 million of revenue annually after paying gambling prizes and other expenses, according to Jennifer Givner, a spokeswoman for the New York Lottery, which handled bidding for the project.
About 1,600 machines are to be installed within six months, followed within six months by another 2,925 terminals, a 2,100- space parking garage and a new pedestrian bridge to the Aqueduct subway station, according to the recommendation by the Lottery. Later, Genting will build a new covered entrance to the race track, which is in Queens. The payment came almost two weeks after Genting’s stock rose to a two-year high in Kuala Lumpur when the contract was approved. -- Bloomberg
Read more: Genting pays New York US$380m for parlor http://www.btimes.com.my/articles/20100928084600/Article/#ixzz10nUpaZkP
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Tuesday: 28 SEPTEMBER 2010 XD
| GENTING BHD |
3182 |
i |
XD |
MYR |
9.870 |
|
+0.100 |
+1.0 |
4,314,700 |
18,000 |
9.860 |
9.870 |
134,600 |
9.760 |
9.770 |
9.960 |
9.690 |
-- |
prOfItIng takIng 3 days befOre XD.
Mon: 27 SEP +0.02 [1 day befOre XD]
Fri: 25 SEP -0.18 [2 days befOre XD]
Thu: 24 SEP -0.45 [3 days befOre XD]
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I am stIll fIne
mOnItOrIng
tO bUy On reversal
epliew ( Date: 28-Sep-2010 12:25) Posted:
hello how are u there ?
pharoah88 ( Date: 27-Sep-2010 19:36) Posted:
| Stock |
Code |
i |
Rmk |
Ccy |
Last |
|
$Chng |
%Chng |
Vol |
Buy Vol |
Buy |
Sell |
Sell Vol |
Open |
Previous |
Day Hi |
Day Lo |
Ind |
Sector |
Mkt |
Off Code |
Feed Code |
COC BB |
COC LD |
COC BS |
| JiutianC |
C8R |
i |
-- |
SGD |
0.090 |
|
+0.015 |
+20.0 |
107,553,000 |
4,006,000 |
0.090 |
0.095 |
15,436,000 |
0.075 |
0.075 |
0.095 |
0.075 |
C |
-- |
SGX |
C8R |
JUTN.SI |
-- |
-- |
-- |
| Informatics |
I03 |
i |
-- |
SGD |
0.175 |
|
+0.005 |
+2.9 |
98,278,000 |
22,781,000 |
0.170 |
0.175 |
681,000 |
0.170 |
0.170 |
0.185 |
0.170 |
C |
-- |
SGX |
I03 |
INFO.SI |
-- |
-- |
-- |
| ChinaGaoxian |
I4U |
i |
-- |
SGD |
0.195 |
|
-0.030 |
-13.3 |
95,667,000 |
6,757,000 |
0.190 |
0.195 |
809,000 |
0.230 |
0.225 |
0.230 |
0.190 |
C,M |
-- |
SGX |
I4U |
CGXF.SI |
-- |
-- |
-- |
| e Genting HK US$ |
S21 |
i |
-- |
USD |
0.475 |
|
-0.010 |
-2.1 |
83,902,000 |
1,512,000 |
0.475 |
0.480 |
1,946,000 |
0.495 |
0.485 |
0.505 |
0.475 |
M |
-- |
SGX |
S21 |
GENH.SI |
-- |
-- |
-- |
| Genting SP |
G13 |
i |
-- |
SGD |
2.020 |
|
+0.010 |
+0.5 |
78,977,000 |
3,614,000 |
2.010 |
2.020 |
983,000 |
2.040 |
2.010 |
2.060 |
2.010 |
M |
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EyE yOUr pIck nOw
BEST tIme
waIt fOr reversal
pharoah88 ( Date: 28-Sep-2010 12:30) Posted:
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EyE yOUr pIck nOw
BEST tIme
waIt fOr reversal
cannotfind ( Date: 28-Sep-2010 11:46) Posted:
promoting air asia?
pharoah88 ( Date: 28-Sep-2010 11:38) Posted:
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PCV is the portion of CV that is utilised for earnings.
ICV is the portion of CV that is left Idle without earnings.
E.g. UNsold Empty seats in a flight contribute to ICV for airlines.
Sold seats in a flight contribute to PCV for airlines.
tonylim2 ( Date: 26-Aug-2010 10:07) Posted:
What are productive carrying value and idle carrying value ?
pharoah88 ( Date: 26-Aug-2010 09:55) Posted:
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my understanding:
COST = Full Purchase Price
Carrying Value [CV] = Book Cost net of Depreciation
Valuation = Official Assessment
Value In Use [VIU] = portion of Carrying Value utilised under CHARTER;
i call it Productive Carrying Value [PCV], which is Carrying Value [CV] LESS Idle Carrying Value [ICV]. |
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Drewry Pacific Rate Index [DPRI]
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Drewry Pacific Rate Index [DPRI]
scanner ( Date: 20-Sep-2010 23:53) Posted:
For those who is not aware, BDI do not affect Container Freight Rates. For NOL case, it is
the Drewry Pacific Rate Index that will affect NOL earnings.
I would like to advise those who intended to invest or already invested in NOL/shipping line to do more read up.
My 2 cents worth of input.
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BullishTempo ( Date: 28-Sep-2010 11:30) Posted:
| Genting Singapore off 1.5%; CEO pares stake |
Tags: Genting Singapore | Genting Singapore Plc | WRITTEN BY THE EDGE | | TUESDAY, 28 SEPTEMBER 2010 10:03 | Genting Singapore (G13.SG) off 1.5% at $1.99, bucking gains by most other STI components, as CEO Tan Hee Teck’s sale of own shares in open market prompts other investors to follow suit, says Dow Jones.
According to SGX filing, Tan sold 900,000 shares yesterday at $2.047 each at own discretion, trimming his direct stake to 0.010% from 0.017%. Move not unusual with stock +19.5% since start of September, +72.6% since beginning 2H10 vs STI +5.5%, +9.8% over same periods. Having substantially outperformed Singapore market since returning to profitability in 2Q10, stock’s performance for rest of year hinges largely on 3Q10 results, likely due in November.
Immediate support for time being tipped at 20-day moving average, last at $1.93. |
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