Sunday, January 21, 2007
buy gold coin
Look to Monex Deposit Company (MDC) which is able to aid you in your investments. MDC has been in this business for 30 years dealing in America’s gold, silver and precious metal. Nowadays you are able to purchase silver, gold and other precious metal which are either delivered to you or stored in an independent bank or depository. So you may ask why invest in such items. Because gold, silver and precious metal prices have been rising and it is a good form of investment whereas currencies do fluctuate a lot. So in what form is this silver, gold and precious metal made into. Yes they are in ingot or coins. In coins they do have a face value or they could be defined in ingots, also. Now is the best time to buy silver and the value has been rising steady same for gold so whether you buy silver coins or buy gold coin or in the form of ingots, the choice is yours. So like to buy the American eagle gold coins which is available in units of 10 one-ounce coins for personal delivery only. This gold coins are Legal tender coin in the USA with a $50 face value. Also available for personal delivery only in fractional sizes of ounce, ounce and 1/10 ounce, in units of 20 coins each.
Singapore Technologies Engineering Ltd.
FedEx contract of S$724m continues new year momentum
ST Engineering yesterday announced a new S$724m contract with FedEx for
passenger-to-freighter conversions of 87 Boeing 757-200 aircraft. Adding
S$100m to the revenue of STE’s aerospace arm, this follows last week’s
S$200m contract to support AirAsia’s fleet of 130 Airbus A320s with components
maintenance for ten years. This is positive momentum and falls in the more
transparent commercial side of STE. These new contracts represent positive
and momentum-building developments. We will upgrade our forecast and target
price, maintaining our BUY recommendation.
Commercial sales constituted 71% of revenue in 3Q06 as a result of the
commercial acquisitions made in 2005. This was the second successive quarter
in which STE demonstrated a decreased reliance on military systems business.
Order book business reached a new record of S$7.05b. Acquisitions and an
increased reliance on commercial sales hold the best prospects for STE’s way
forward.
Maintain BUY recommendation and under review for upgrade of target price of
S$3.40.
STE’s 3Q06 performance
Regional Update
CHINA
Sinopec (BUY/HK$6.38/Target: HK$9.30)
Output of major products is in line with our expectation.
The recent fall in its share price provides a buying opportunity.
Maintain target price.
Prime Success (BUY/HK$8.34/Target: 12.30)
Much room for expansion in suburban areas and small cities.
Technical
PetroChina (857): HK$9.58 - Potential reversal.
HONG KONG
I.T. (NOT RATED/HK$1.33)
Underperformed other local consumer stocks. Trading at 12x FY07 PE,
the counter looks attractive. Expect catching up in the months ahead.
Technical
Lee & Man Paper (2314)- Downside risk limited to 50-day moving average.
MALAYSIA
Scomi Marine (HOLD/RM0.985)
CH Offshore's new vessel was delivered recently with a US$7.5m contract.
The contribution has already been factored into our earnings forecast.
The New Straits Times Press (SELL/RM2.49/Fair: RM2.00)
The NSTP-Utusan merger was aborted yesterday due to issues of control
and brand continuity.
SINGAPORE
Delong Holdings (HOLD/S$0.165)
Enhancing capacity to propel earnings.
Singapore Technologies (BUY/S$3.20/Target: S$3.40 ? Under Review)
New S$724m passenger-to-freighter conversion contract with FedEx
over seven years continues new year momentum.
Venture Corporation (BUY/S$13.20/S$15.80)
Reaping rewards from the acquisition of GES.
THAILAND
Kasikorn Bank (BUY/Bt60.0/Target: Bt85.5)
FY06: Solid operating performance but bottom line growth was held back
by rising provisions.
TALKING POINT: PetroChina (857.HK)
For more details, click on the link. http://research.uobkayhian.com/research/content.show.action?filename=2007011909292653127329129.pdf
Saturday, January 20, 2007
Los Angeles Cosmetic Surgery
Only the people who dared took the next step into the world of plastic surgery. That was then and now is now, where with reality shows promoting plastic surgery. Plastic surgery is becoming a common thing to everyone. Where else in the USA can you find a Plastic Surgery center then none other then Los Angeles Cosmetic Surgery in Rodeo Drive, Los Angeles. What with the most latest and sophisticated surgery equipment, trained staff from the best medical schools. What more can a patient ask for? Lloyd Krieger MD founder and medical director of the center, boast of the best location of the center, built with a view of the famous retailers like Hugo Boss and Chanel. With some many reality shows, plastic surgery is become a common necessity for those who want to look good and feel good. More and more patients are now are given first class services at competitive prices. At the Rodeo Plastic Surgery, patients can expect plastic surgery care with their safety in mind, professional treatments and at a reasonable price. Potential patients can find treatments like tummy tuck, liposuction, breast augmentation, eyelid surgery, facial rejuvenation, nose reshaping. Not all surgery are surgery, there are minimally invasive procedure can provide impressive results to both women and men unhappy with fullness in the neck or a "double chin."
Regional Update
CHINA Widening A-H Discount Unexpected widening of A-H share price discount creates upside potential for cheaper H-shares. Property Mainland developers are likely to correct further given uncertainties on LAT. Shanghai Real Estate I s least affected by the tax. Buy Hopson and Shimao on further price weakness. Brilliance China (BUY/HK$1.68/Target: HK$2.00) December sales slightly below our expectation. A total of 62,997 Zhonghua series sedans sold in 2006. Maintain BUY. Kingdee (BUY/HK$3.70/HK$4.40) Laggard in the recent bull rally. Trying to catch up with its peers in Hong Kong and China.HONG KONG China State Construction (NOT RATED/HK$4.95) Construction play. Likely to enter the Chinese market. Lee & Man Paper (BUY/HK$19.46/Target: HK$22.36) To catch up with Nine Dragons Paper. Technical Singamas Container (716) ? Double breakout.INDONESIA International Nickel Indonesia (BUY/Rp28,600/Target: Rp34,700) Bright prospects backed by capacity expansion and firmer nickel price.MALAYSIA Dec 06 CPI CPI rose 3.1% in Dec 06, virtually unchanged from Nov 06. Inflation rate is expected to average 3.0% for 2007 ? a moderation from 2006's 3.6%. Tenaga Nasional (BUY/RM11.80/Target: RM13.40) 1QFY07 results likely to exceed market expectations with one-off write-backs and forex gains. Sharp upturn in earnings momentum driven by tariff hike. UEM World (BUY/RM1.80/Target: RM2.53) Value of its listed subsidiaries has risen. RNAV raised to RM2.53 from RM2.26. More upside if land price increases accelerate in South Johor. Malayan Banking (BUY/RM11.80/Target: RM13.20) Sale of two tranches of corporate non-performing loans. Expected to realise an estimated gain of about RM230m, or 6sen/share.SINGAPORE Dec 06 & 2006 NODX NODX contracted by 14.2% in Dec 06, leading to full-year NODX expanding by 8.5% in 2006. For 2007, we expect NODX to expand by 7.0%. Enviro-Hub Holdings (BUY/S$0.675/Target: S$0.78) Distribution in specie of HLS Electronics shares. Technical OSIM more downside.THAILAND Monetary Policy The new policy rate 1-day repo rate was cut to 4.75% from 4.90%. At least another 100bp cut to the policy rate is expected by end-07.TALKING POINT: THAILAND - Media and Publishing SectorFor more details, click on the link.http://research.uobkayhian.com/research/content.show.action?filename=2007011809555008381721215.pdf
Venture Corporation
Reaping rewards from acquisition of GES
Reorganising for greater effectiveness. Venture has structured itself under
three business groups after completing the acquisition of GES:
Component Technology Business: Focus on electro-mechanical components
encompassing capabilities in mould fabrication, precision plastic moulding,
surface finishing processes such as sputtering. The business unit will also
develop new strategic components to assist Product Technology Business to
penetrate new markets.
Product Technology Business: Venture aims to dominate POS (point-ofsales)/
retail store solutions, RF (radio frequency) products and niche ODM
(original design & manufacturing) products such as thermal and deskjet printers.
This business unit engages customers at the early stages of product
development to secure pipeline of new projects. It leverages on proprietary
technologies developed in-house to support its customers and focuses on
complete products.
Electronics Service Provider: This business unit provides logistics and
manufacturing services for the Component Technology Business and Product
Technology Business.
Venture aims to better provide vertically integrated end-to-end solutions so as
to create more in-depth partnership and co-dependency with customers.
Integration with GES well underway. The redeployment of human resources
is completed. The company is in the process of standardising compensation and
IT systems. Venture will extend its option scheme to key managers from GES.
There will be 1-month earning contribution from GES in 4Q06.
Achieving revenue and cost synergies. New areas of opportunities have
opened up. Venture is a key supplier to IBM for storage systems while GES is
a key supplier for POS systems. The combined company is working with IBM on
new products involving peripherals. Business with POS customer Micros has
grown. Venture is also eyeing on business with NCR, which is considering
outsourcing production of ATM machines. GES’s customers Waters and Perkin
Elmer are looking at committing more business with Venture.
On the cost reduction front, GES will leverage on Venture for printing devices
used in POS systems instead of relying on third-party suppliers. The enhanced
scale from Venture allows GES to purchase raw materials at more competitive
prices. GES’s Shanghai plant is expected to turn profitable this financial year.
Dividend payout supported by cash flow. Venture’s dividend policy is
supported by cash holdings of S$524.1m and available-for-sale investments of
S$295.6m. They are worth S$3.01/share as at Sep 06.
Reiterate BUY. Venture share price corrected 13.6% from S$14.00 to S$13.20.
The stock is unfairly penalised due to unfounded rumour over progress of
integration with GES and sustainability of its dividend policy. Our target price is
S$15.80 based on FY07 PE of 15x.
Sunday, January 14, 2007
Belisi.com
Peter Belsi started from a humble beginning as a bartender to a famous in fashion design. His success was due to his hard work and determination to make a name for him. He did not go other and found something that was so revolutionize but he began designing ties and not before long he managed to get a load of clients. From fine ties he has progress to luxury wardrobes.
Belisi.com is where you can find the latest in his designs. Anyone that owns a Belisi knows that he or she is in fine Italian designs with its skill craftsmanship and exquisite materials.
Regional Update
CHINA Industrials Software: laggards in the recent bull. To catch up with their peers in China given unjustified valuation gap. We remain overweight on the sector. Property After the recent correction, Hopson, Shanghai Real Estate and Shimao look most attractive at current levels. China Mengniu Dairy (BUY/HK$19.98/Target: HK$26.00) Milk powder and yogurt products will become profit drivers for the company in the near future. Reiterate BUY with target price at HK$26.00. Baoye Group (BUY/HK$13.30/Target: HK$15.00) An undervalued property play.HONG KONG Chong Hing Bank (1111) Upside breakout.INDONESIA Perdana Karya Perkasa (NOT RATED/ IPO: Rp350-450) Coal mining, oil & gas and heavy equipment rental company to raise Rp77b-99b through IPO listing on 6 Feb 07.SINGAPORESector Construction Rise of the integrated property developers.THAILAND Strategy Impact on new Foreign Business Act to listed companies and economy. Kasikorn Bank (BUY/Bt54.0/Target: Bt85.5) 4Q06 earnings will likely drop 25% qoq on the back of surging OPEX. However, 2007 earnings outlook remains largely intact.TALKING POINT: Bumiputra-Commerce Holdings (CAHB MK) - Moving up the rankFor more details, click on the link. http://research.uobkayhian.com/research/content.show.action?filename=2007011009565089717496270.pdf
Tat Hong
Buy: Still Well Positioned in a Solid Industry
Buy/Low Risk 1L
Price (08 Jan 07) S$1.22
Target price S$1.50
from S$1.30
Expected share price return 23.0%
Expected dividend yield 3.5%
Expected total return 26.5%
Market Cap S$551M
US$359M
2006 2007E 2008E
EPS new 0.10 0.09 0.11
EPS Growth 113.4 -5.1 16.6
P/E 12.6 13.3 11.4
EV/EBITDA 8.0 7.5 6.6
Consensus Data 0.10 0.09 0.10
Price Performance (RIC: TAT.SI, BB: TAT SP)
Re-iterate Buy/Low Risk (1L) — We have rolled-over our target peg for Tat Hong from
Mar-07 to Mar-08, raising our 12-month target price from S$1.30 to S$1.50. Our
recent discussion with management suggests that the group remains in a strong
position, benefiting from a tight industry and exposure to the resource and
infrastructure sectors which are still seeing brisk activity.
Positive statistics— Utilisation rates should rise further towards 80% from about 73-
75% currently with the construction of the Integrated Resorts in Singapore. Selling
prices of heavy equipment are also tracking upwards by between 5-15% suggesting
that margins have room for further upside.
Market rundown — Singapore, The Middle East, China and Vietnam appear to be
the most exciting markets for the group over the coming years. Australia and
Malaysia are stable, while Thailand seems to be seeing some slowdown due to
political issues. Tat Hong is particularly optimistic on Singapore and expects jobs for
the Integrated Resorts from mid-2007 onwards.
Australia — The previous hiccup with Kingston appears to have been contained and
management is now more optimistic on prospects. Tat Hong looks well positioned to
benefit from strength in the resource industry in W. Australia.
China — Tat Hong’s tower crane leasing business in China has started and will move
into full swing this year. We think there could be more activity in China over the coming year.
Wednesday, January 10, 2007
Civil Engineering Jobs
CSI is one a leading agency is recruiting of Civil Engineers, staff with a team of 14 professional recruiters that eat, drink and sleep Civil Engineering and are 100% dedicated to working nationally with Civil Engineering candidates and companies!
If you are looking for Civil Engineering Jobs, then CSI will be able to help you. On the average CSI makes 25,000 telephone calls a month and with CSI representing over 50 leading Civil Engineering firms, the job prospects and also high. Leading firms would mean the best projects, have outstanding management teams and offer excellent salaries/benefits as well as a chance for rapid promotion. So do not wait, check them out.
Construction Sector
The construction sector is looking very interesting from a few
perspectives. Seven consecutive years of activity decline has led to a
shake-out of the weaker players while those who had stayed have
reinvented themselves to become stronger than ever. Some of the
survivors have diversified into property development and other related
activities and have been transformed into fast-growing companies. Three
dynamics of change have given us reason to be positive on the outlook for
the companies in the sector:
a) Uptrend in construction activity. Besides the deluge of projects in
residential property, there are large-scale projects that will drive
activity in the sector, including the upcoming integrated resorts
(IRs), Business & Financial Centre (BFC) and Orchard Road development
projects. This will keep construction activity buzzing for the next
few years.
b) Successful transformation into developers. Many construction
companies have transformed themselves into Integrated Property
Developers (IPDs), integrating their core competence in construction
with the very closely related field of property development. These
IPDs have been more successful than their pure construction peers,
making their mark as more efficient property developer companies and
enjoying higher ROEs.
c) Successful manager-entrepreneurs behind these companies. The
successful makeover of these companies have enabled them to weather
the prolonged decline in construction activity. However, being some
of the most active construction companies in recent years, they will
be key beneficiaries as the industry starts to pick up.
Our selection of five construction stocks features companies that have
experienced these trends. Among these are Chip Eng Seng, Sim Lian,
SoilBuild and Low Keng Huat, four successful IPDs with good quality
management/entrepreneurs behind them. UE is the only purer
construction/engineering company in our stock selection list.
Chip Eng Seng (BUY/S$0.375/Target: S$0.43). Overall most active general
contractor. Most active in private residential and Housing and
Development Board (HDB) residential projects. Has transformed itself
into an IPD by partnering large foreign funds. Key projects: Unnamed
project at Devonshire, Venturo (Balmoral).
Low Keng Huat (BUY/S$1.19/Target: S$2.04). Historically the most active
general contractor in the commercial segment. Has transformed itself
into an IPD through partnerships with other property developers. Strong
balance sheet with no long-term debt. Key projects: Domain 21 (Delta),
Regency Suites (Kim Tian).
Sim Lian Group (HOLD/S$0.45). Third most active contractor in the
private residential and HDB residential segments. Distinguishes itself
as the first mover into the Design, Build and Sell Scheme (DBSS) HDB
scheme. Key projects: Viz (Holland), Lincolnsvale (Surrey).
Soilbuild Group Holdings (HOLD/S$0.77). Successful IPD transformation
through tight financial management and strong integrated design and build
capabilities. Key project: One Tree Hill (Grange), Leonie Parc View
(Leonie Hill).
United Engineers (BUY/S$2.59/Target: S$3.42). Overall second most active
general contractor with strength in both private residential and public
residential projects. Carving itself a niche in specialised engineering
services and as an IPD through Public Private Partnership (PPD) projects.
Key project: One-North (Buona Vista).
Regional Update
CHINA
Industrials
Software: laggards in the recent bull. To catch up with their peers in
China given unjustified valuation gap. We remain overweight on the
sector.
Property
After the recent correction, Hopson, Shanghai Real Estate and Shimao
look most attractive at current levels.
China Mengniu Dairy (BUY/HK$19.98/Target: HK$26.00)
Milk powder and yogurt products will become profit drivers for the
company
in the near future. Reiterate BUY with target price at HK$26.00.
Baoye Group (BUY/HK$13.30/Target: HK$15.00)
An undervalued property play.
HONG KONG
Chong Hing Bank (1111)
Upside breakout.
INDONESIA
Perdana Karya Perkasa (NOT RATED/ IPO: Rp350-450)
Coal mining, oil & gas and heavy equipment rental company to raise
Rp77b-99b
through IPO listing on 6 Feb 07.
SINGAPORE
Sector
Construction
Rise of the integrated property developers.
THAILAND
Strategy
Impact on new Foreign Business Act to listed companies
and economy.
Kasikorn Bank (BUY/Bt54.0/Target: Bt85.5)
4Q06 earnings will likely drop 25% qoq on the back of surging OPEX.
However, 2007 earnings outlook remains largely intact.
TALKING POINT: Bumiputra-Commerce Holdings (CAHB MK) - Moving up the rank
For more details, click on the link.
http://research.uobkayhian.com/research/content.show.action?filename=2007011009565089717496270.pdf
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