· Net profit of S$43.8m (-0.7% yoy, +10.0% qoq) and quarterly DPS of 1.25 Scents were in line.
· The appointment of new CEO for international business shows regional focus. Regional M&A and share buybacks cannot be ruled out.
· Maintain HOLD with DDM-based S$1.17 TP (cost of equity 7.7%, growth rate 2%). We have assumed that dividends can grow by 2% p.a. in the long term.
SURVEY
Monday, January 31, 2011
Friday, January 28, 2011
星光魔王倪安東2011年1月魅力佔領獅城來“踢館”和你分享全新專輯《第一課》
28 Jan:9.30pm - YES 933 LIVE 訪問
29 Jan:5.00pm - YES933倪安東 [第一課] 簽唱會 @ Bugis Junction 5pm
30 Jan:3.00pm - [廣播75周年] 站台@ Orchard Central
9.00pm - [繽紛万千在升松] 電視LIVE錄影
29 Jan:5.00pm - YES933倪安東 [第一課] 簽唱會 @ Bugis Junction 5pm
30 Jan:3.00pm - [廣播75周年] 站台@ Orchard Central
9.00pm - [繽紛万千在升松] 電視LIVE錄影
Saturday, January 22, 2011
Meet-and-greet sessions with TVB stars
TVB artistes Wayne Lai (黎耀祥), Michael Tse (谢天华), Linda Chung (钟嘉欣) and Shirley Yeung (杨思琦) will be in town to lend their star power at StarHub’s Lunar New Year roadshow. Lai and Tse won the Best Actor and Best Supporting Actor Awards at the annual TVB Awards respectively. StarHub has arranged for the artistes to meet and greet their fans at Causeway Point on 22 January at 4pm and on 23 January at 1pm. Fans will get a chance to play games with their favourite TVB artistes and win attractive prizes.
Monday, January 17, 2011
Singapore Star Tour with Asian Superstars Andy Lau & Director Benny Chan
“SHAOLIN” MEET-THE-FANS EVENT 《新少林寺》影迷见面会
Date: 20th January 2011, Thursday
Time: 7:00pm
Venue: Main Atrium, Plaza Singapura
“SHAOLIN” SINGAPORE GALA PREMIERE 《新少林寺》新加坡首映礼
Date: 20th January 2011, Thursday
Time: 8:00pm
Venue: GV VivoCity
Asian Superstar and lead actor Andy Lau 刘德华, together with Director Benny Chan 陈木胜, will be in Singapore on 20 January 2011 to promote upcoming Chinese blockbuster SHAOLIN 《新少林寺》! They will arrive in Singapore, from Malaysia, via flight MH 611 at 10:20am.
This whirlwind stopover will have both gentlemen attending the SHAOLIN Singapore Press Conference, followed by a SHAOLIN Meet-The-Fans Event at Plaza Singapura. Fans are able to get up close and personal with Andy Lau as he has not make any public appearances in Singapore for several years!
At their last stop, the SHAOLIN Singapore Gala Premiere, both Andy Lau and Benny Chan are gracing not one, but two red carpet stages at GV VivoCity! They will leave for Taiwan the next day to continue the SHAOLIN Asia-wide promotional tour.
SHAOLIN, with a production budget of over USD$25 million, tells the story of an arrogant army leader who repent and seek refeuge at Shaolin after the shock betrayal by his sworn brother, who brings his army to besiege Shaolin and the peace-loving monks. Directed by Benny Chan陈木胜, the movie brings together a stellar cast including Andy Lau刘德华, Nicholas Tse 谢霆锋, Fan Bing Bing 范冰冰, Wu Jing 吴京, Yu Shaoqun 余少群, and special appearance by Jackie Chan 成龙.
SHAOLIN, which opens in Singapore on 21 January 2011, is co-distrbuted by Scorpio East Pictures and Golden Village Pictures.
Date: 20th January 2011, Thursday
Time: 7:00pm
Venue: Main Atrium, Plaza Singapura
“SHAOLIN” SINGAPORE GALA PREMIERE 《新少林寺》新加坡首映礼
Date: 20th January 2011, Thursday
Time: 8:00pm
Venue: GV VivoCity
Asian Superstar and lead actor Andy Lau 刘德华, together with Director Benny Chan 陈木胜, will be in Singapore on 20 January 2011 to promote upcoming Chinese blockbuster SHAOLIN 《新少林寺》! They will arrive in Singapore, from Malaysia, via flight MH 611 at 10:20am.
This whirlwind stopover will have both gentlemen attending the SHAOLIN Singapore Press Conference, followed by a SHAOLIN Meet-The-Fans Event at Plaza Singapura. Fans are able to get up close and personal with Andy Lau as he has not make any public appearances in Singapore for several years!
At their last stop, the SHAOLIN Singapore Gala Premiere, both Andy Lau and Benny Chan are gracing not one, but two red carpet stages at GV VivoCity! They will leave for Taiwan the next day to continue the SHAOLIN Asia-wide promotional tour.
SHAOLIN, with a production budget of over USD$25 million, tells the story of an arrogant army leader who repent and seek refeuge at Shaolin after the shock betrayal by his sworn brother, who brings his army to besiege Shaolin and the peace-loving monks. Directed by Benny Chan陈木胜, the movie brings together a stellar cast including Andy Lau刘德华, Nicholas Tse 谢霆锋, Fan Bing Bing 范冰冰, Wu Jing 吴京, Yu Shaoqun 余少群, and special appearance by Jackie Chan 成龙.
SHAOLIN, which opens in Singapore on 21 January 2011, is co-distrbuted by Scorpio East Pictures and Golden Village Pictures.
Friday, January 14, 2011
Great Eastern Issues S$400 million of 4.6-per cent, 15-year Notes
The Great Eastern Life Assurance Company Limited, a subsidiary of
Great Eastern Holdings Limited, announced that it has successfully
priced its maiden issue of S$400 million subordinated fixed rate
notes (Series 001 Notes), targeted at Asian-based institutional and
retail investors.
The Series 001 Notes, assigned an ‘A+’ rating by S&P Ratings, have
a 15-year term, but the company has the option to call the Notes at
the end of 10 years. The Series 001 Notes are expected to be issued
on or sometime around 19 January 2011 and will initially bear
interest at the rate of 4.6 per cent per annum, payable half yearly.
Fang Ai Lian, Chairman of Great Eastern Holdings, said: “This is a
great start to the new year for us. We are delighted that our Series
001 Notes have received overwhelming response. We had targeted
to issue S$400 million, but received orders for S$1.2 billion, reflecting
three times over-subscription.”
Oversea-Chinese Banking Corporation Limited and Morgan Stanley
Asia (Singapore) Pte Ltd are the joint lead managers for the Series.
Great Eastern Holdings Limited, announced that it has successfully
priced its maiden issue of S$400 million subordinated fixed rate
notes (Series 001 Notes), targeted at Asian-based institutional and
retail investors.
The Series 001 Notes, assigned an ‘A+’ rating by S&P Ratings, have
a 15-year term, but the company has the option to call the Notes at
the end of 10 years. The Series 001 Notes are expected to be issued
on or sometime around 19 January 2011 and will initially bear
interest at the rate of 4.6 per cent per annum, payable half yearly.
Fang Ai Lian, Chairman of Great Eastern Holdings, said: “This is a
great start to the new year for us. We are delighted that our Series
001 Notes have received overwhelming response. We had targeted
to issue S$400 million, but received orders for S$1.2 billion, reflecting
three times over-subscription.”
Oversea-Chinese Banking Corporation Limited and Morgan Stanley
Asia (Singapore) Pte Ltd are the joint lead managers for the Series.
Tuesday, January 11, 2011
SingTel Acquires 28.57-per cent Stake in Mobile Marketing Firm
Singapore Telecommunications Limited announced that its whollyowned
subsidiary, SingTel Innov8 Pte Ltd, has acquired a 28.57-per
cent stake in 2359 Media Pte Ltd for an aggregate cash consideration
of S$800,006.40.
2359 Media is a Singapore-based mobile marketing provider whose
core product offering is MobDis, a HTML5-based mobile advertisement
creation platform that allows marketers and designers to rapidly
create, publish and share engaging mobile advertisements.
subsidiary, SingTel Innov8 Pte Ltd, has acquired a 28.57-per
cent stake in 2359 Media Pte Ltd for an aggregate cash consideration
of S$800,006.40.
2359 Media is a Singapore-based mobile marketing provider whose
core product offering is MobDis, a HTML5-based mobile advertisement
creation platform that allows marketers and designers to rapidly
create, publish and share engaging mobile advertisements.
Thursday, January 06, 2011
Global Logistic Properties – Acquisition of ACL earnings and valuation accretive.
Global Logistic Properties is proposing to purchase a 53.14%
stake in Airport City Development Co Ltd (ACL) for
RMB2483m. ACL is the sole developer in the Beijing Capital
International Airport (BCIA) air cargo handling and bonded
logistics area. The deal is the 2nd acquisition within 3 months
of listing, and will be funded by an issue of new shares (57%)
and cash (43%). This will result a 2.8% expansion in share
capital. This acquisition will strengthen portfolio and market
position, and is also earnings and valuation accretive.
Maintain Buy, TP S$2.76.
stake in Airport City Development Co Ltd (ACL) for
RMB2483m. ACL is the sole developer in the Beijing Capital
International Airport (BCIA) air cargo handling and bonded
logistics area. The deal is the 2nd acquisition within 3 months
of listing, and will be funded by an issue of new shares (57%)
and cash (43%). This will result a 2.8% expansion in share
capital. This acquisition will strengthen portfolio and market
position, and is also earnings and valuation accretive.
Maintain Buy, TP S$2.76.
Sunday, January 02, 2011
Aquarius Outlook for 2011
A series of breakthroughs in consciousness happen for you in 2011. Slowing down those genius synapses may not be an option, but with so much mental exuberance, why would you want it to stop? Imagine the onslaught of six planets all occupying the mental sector of your horoscope at the same time. And the fact that the planets will be in Aries -- one of the feistiest, go-getter signs of them all -- only adds fuel to the fire. A sense of urgency dominates the scene. You won't put off tomorrow what you can do today. Could the planets possibly be any more conducive to productivity?
Of course sleep could be an issue in that case, but you'll have so much energy you won't even notice the deprivation. If you're a writer, this is by far your most prolific year. Words easily just spill right onto the page. Regardless of your chosen profession, you'll have your hands full with communication and correspondence. You're learning all about the power and pleasures of the mind with daily life becoming a thrilling education itself.
Another keynote of 2011 is a radically spiritualized approach to money and possessions. Don't be surprised if you're suddenly inspired to give it all away just to tap into the lightness of being. Any residual materialistic tendencies seem to lose their importance once Neptune takes up residence in your money sector this year. You'll be inundated by Neptune's compassionate and empathic teachings over the next 14 years. You'll feel more for those who have not and may even devote more of your time and energy to helping those in need.
Of course sleep could be an issue in that case, but you'll have so much energy you won't even notice the deprivation. If you're a writer, this is by far your most prolific year. Words easily just spill right onto the page. Regardless of your chosen profession, you'll have your hands full with communication and correspondence. You're learning all about the power and pleasures of the mind with daily life becoming a thrilling education itself.
Another keynote of 2011 is a radically spiritualized approach to money and possessions. Don't be surprised if you're suddenly inspired to give it all away just to tap into the lightness of being. Any residual materialistic tendencies seem to lose their importance once Neptune takes up residence in your money sector this year. You'll be inundated by Neptune's compassionate and empathic teachings over the next 14 years. You'll feel more for those who have not and may even devote more of your time and energy to helping those in need.
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