online schools

Cannot remember that school your friend told you about, or not sure if you got the right school, why not search the internet. What do you 10,000 hits and still do not know which site to go to to get that online schools. Why not just check one site at DirectoryofSchools.com, and you get a whole list of schools and how long is that list just about 1,355 schools with over 9,230 online degrees and professional certificate programs, only. Committed to excellence in online education through our strategic partnerships with universities, colleges and trade schools. DirectoryofSchools.com strive to insure that our partner schools are reputable by utilizing an in-house verification process which reviews accreditation or vocational industry standards relevant to each school. Rset assured you are at the right site to search for that right programme for you.

Coal

26 June 2007 Coal Sector (NEUTRAL - Downgraded) Sector update - Higher prices, higher production? by Robert Adair Share prices for listed thermal coal companies have continued to outperform over the past month, boosted by higher spot prices. However, we expect spot prices to weaken in 2H07 and have left our FY08-10 price assumptions unchanged. We believe Bumi Resources and Banpu remain attractively valued in view of these assumptions and maintain our Outperform recommendation for both companies. However, Straits Asia and TB Bukit Asam valuations appear to reflect higher coal prices and we recently downgraded our recommendations for these two companies to Underperform. We downgrade our sector recommendation to Neutral, from Overweight previously. Full Report [ Click here ] or the URL below http://www.gohdirect.com/NASApp/spaf/econtent/sg/REG-CoalSector-260607.pdf

CNA

0044 GMT [Dow Jones] CNA Group (5GC.SG) may rise on aggressive expansion in Middle East as firm offers to buy 50% stake in Dubai-based Al Hani Gulf Contracting for AED17 million, to form JV with Saudi Economic & Development Company. Al Hani provides control, automation systems to airports, malls, schools, high-end homes in Dubai. CNA says JV with SEDCO will raise share capital for CNA''s Dubai unit to AED40 million from AED300,000 now; funds to be used for acquisitions, future business development, working capital. JV will aim to service companies in Middle East, North Africa, Turkey, Pakistan, India. Stock +4.1% at S$0.63 yesterday. Pre-open quotes show bids of up to S$0.65, offers most substantial at S$0.68. (FKH)

ST Engineering

0533 GMT [Dow Jones] ST Engineering (S63.SG) may recoup morning''s losses as has secured US$41.5 million contract under Egyptian Fast Missile Craft project. Still, deal relatively small for company as posted 1Q revenue of $1.22 billion; stock capped at record high close of S$3.86. Contract between U.S. operations of ST Engineering''s marine arm and U.S. Navy; not expected to impact FY07 EPS. Deal is follow-on order after marine unit was named prime contractor for project in 2005, has already been given contracts worth about US$194 million with scope for further project wins. Stock down 0.5% at S$3.76 at midday break.(JEM)

Travel Insurance

TravelSafe Insurance is one of the nation’s largest and most respected providers of travel insurance. Did you know that thousands and thousand of travellers and travel agents think TravelSafe when they want to protect their vacations or those of their clients. They have been in the business of travel insurance for over 35 years. Started as a family business the business has grew ever since. They provide “Cancel For Any Reason” cash back benefit, plus superior coverage for hurricane warnings and other inclement weather, worldwide medical protection (including a 24-hour emergency assistance number), emergency medical evacuation, coverage for pre-existing medical conditions, terrorism and trip cancellation/interruption. The benefits and service offered by TravelSafe Insurance are unbeatable. Nowhere else can you find Travel Insurance that provides this kind of coverage.

DMG Starts C&O Pharmaceutical

0012 GMT [Dow Jones] STOCK CALL: DMG & Partners starts C&O Pharmaceutical (E92.SG) at Buy with 12-month price target of S$0.68, based on 14x FY09 forward earnings. Says C&O provides exposure to biggest pharmaceutical group in China - antibiotics - with strong M&A angle "because of its big cash hoard and strong operational cash flow." Closed flat at S$0.57 yesterday. (JEM)

Firstlink

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

0036 GMT [Dow Jones] Stamford Tyres (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

continuing education

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, please visit Blogitive.com.”

Asian Stocks Advance on Gain in Chip Prices, Japan's Exports

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 in a row inthe period ended Oct. 27. Japan's Nikkei 225 Stock Average climbed 0.2 percent to18,247.70, recouping losses of as much as 0.6 percent.Benchmarks in Australia and Thailand were the only fallers amongthe region's 10 biggest stock markets. U.S. shares dropped by the most in two weeks yesterdayafter the yield on the 10-year Treasury note, which influencesrates on mortgages and corporate loans, ended a three-daydecline. Yields also climbed in Japan, Australia and South Korea. DRAM Prices Samsung, the world's No. 1 computer-memory chipmaker, added1.7 percent to 587,000 won. Hynix Semiconductor Inc., the secondlargest, surged 5.8 percent to 34,000 won. Elpida Memory Inc.,Japan's biggest, rose 4.4 percent to 5,720 yen. PowerchipSemiconductor Corp., the largest in Taiwan, gained 2.5 percentto NT$20.45. Prices for the benchmark 512-megabit dynamic random accessmemory chip, or DRAM, soared 17 percent to $2.21 yesterday,according to Dramexchange.com, Asia's biggest spot market forchips. That's the highest in more than six weeks. The Bloomberg Asia Pacific Semiconductors Index, whichtracks 21 of the region's biggest chipmakers, gained 1.8 percentto 146.12, erasing its loss for the year. The MSCI index is up9.8 percent since the start of 2007. ``Most investors had anticipated a rally in chip-relatedshares because of the outlook that demand will recover towardthe second half of this year,'' said Koji Uchida, who helpsoversee $61 billion at Mitsubishi UFJ Asset Management Co. inTokyo. ``The DRAM spot price news was good timing.'' Japanese Exports Japan's exports rose 15.1 percent from a year earlier,compared with 8.2 percent in April, the Ministry of Finance saidtoday. The gain was more than economists expected, a Bloombergsurvey showed, and helped the trade surplus widen 9.3 percent to389.5 billion yen ($3.2 billion). Toshiba, the world's fourth-largest maker of notebookcomputers, rose 1.8 percent to 1,000 yen. Toyota Motor Corp.,Japan's No. 1 automaker climbed 0.4 percent to 7,770 yen. The Hang Seng Index added 0.9 percent after the securitiesregulator said mainland brokerages will be able to invest moneyoverseas for the first time, including Hong Kong equities. ``The impact is going to be huge as more money will becoming to Hong Kong,'' said Renault Kam, a director of AtlantisInvestment Management Ltd., which oversees $3 billion in Asia.Mainland companies listed in the city are likely to most benefit,as investors would ``rather buy shares of companies withbackgrounds they know about.'' Mainland Money China Mobile, the world's largest mobile-phone operator byusers, jumped 1.6 percent to HK$81.70. Ping An Insurance (Group)Co., China's second-biggest insurer, rose 4.9 percent toHK$54.20. The company also won government approval to buy PingAn Bank to strengthen its banking operations. China Life Insurance Co., the nation's biggest insurer,jumped today after its asset management unit announced apartnership to invest in the Chinese property market. The stockgained 5 percent to HK$28.15 in Hong Kong and 9.8 percent to44.02 yuan in Shanghai. Some shares of regional exporters declined on speculationhigher bond yields will slow global economic growth and deterconsumer spending. The yield on 10-year U.S. Treasuries rose 6basis points to 5.14 percent yesterday. In Australia, the yield on the government's 10-year bondclimbed 5 basis points to 6.24 percent. The yield on Japan's 20-year government bond gained 2 basis points to 2.305, while SouthKorea's benchmark five-year government bond yield rose 5 basispoints to 5.42 percent. Interest Rates ``You're going to see a reaction from interest rate-sensitive stocks,'' said Paul Xiradis, who manages about $8.3billion in Australian stocks at Ausbil Dexia Ltd. in Sydney.``Markets are also correcting from their earlier view thatinterest rates in the U.S. and perhaps globally were on theirway down.'' Nissan Motor Corp., Japan's No. 3 automaker, lost 1.5percent to 1,331 yen. LG Electronics Inc., the world's second-largest plasma display maker, fell 2.4 percent to 79,000 won.Lenovo Group Ltd., the world's third-biggest personal computermaker, dropped 2.8 percent to HK$5.16 in Hong Kong. Singapore's Olam International Ltd. rose by the most inseven weeks after it raised its offer for Australia's QueenslandCotton Holdings Ltd. to A$166.5 million ($140 million), orA$5.90 a share, securing the support of rival Louis Dreyfus &Cie. SA. Australian Bids Olam, which supplies ingredients to companies such asNestle SA and Kraft Foods Inc., rose 4.9 percent to S$3.44, themost since May 4. Queensland's stock slid 0.3 percent to A$5.88. ``We were surprised that Louis Dreyfus has decided to throwin the towel,'' said Tom Elliott, whose Melbourne-based hedgefund MM&E Capital Pty has built an 8 percent stake in Queenslandsince Olam's first bid, and hasn't decided to sell. Coles Group Ltd. shares declined 2.2 percent to A$16.53 inAustralia. A TPG Inc.-led buyout group quit plans to bid for theretailer after talks about a joint offer with Woolworths Ltd.broke down, the Australia Financial Review reported, withoutsaying where it got the information. Coles said TPG hadn't advised the company of any withdrawal.--With reporting by Stuart Kelly in Sydney, Hanny Wan in HongKong and Madelene Pearson in Melbourne. Editor: Gilbert (jdr)

TEE Int’l

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 completion is expected in one year. Management guided on an approximate profit margin of 18% on the 12,380 sf plot, with a planned launch in Sept 07. The Cairnhill Circle and Rambai Road sites are residential properties with a collective purchase price of $15.51m. Management has not confirmed the costing for these 2 properties, but based on recent transacted prices within the vicinity in the past few months, margin is likely to be higher at more than 50%, and these projects are likely to be launched between 4Q07-1H08. We expect the above to boost TEE's earnings in FY08. TEE expects to fund 90% of these acquisitions through borrowings, and this would increase its gross gearing to 2.3x in FY08, which could put a short-term strain on TEE's operating cash flow. TEE is transferring its development skills from industrial projects to residential projects and is likely to acquire more development properties in the future. Outlook remains positive, but share price is fairly valued. We estimate net profit of S$2.2m for FY08 due to an increase in its order book and sales from its property developments. We are raising TEE's fair value estimate from 19 cents to 21 cents per dilutive share for FY08, based on 11x PER. As TEE has already gained 43% since the start of the year and is currently trading close to our fair value estimate, we downgrade our rating on TEE to a HOLD.

Disney Tickets

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 Tickets 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

HOLD S$3.00 ; CCT SP; Price Target : 12-Month S$ 2.97 �� 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. �� 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. �� 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.

Singapore Post

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.

covered calls

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.

COSCO

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-110607.pdf

C&G

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

What do all companies always look for to expand their business, they are searching for the Lists Company 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

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 develop two residential waterfront projects in Abu Dhabi. Keppelland’s equity interest will be 49% with Aldar holding 51% stake. The first project will be residential development comprising 1,198 apartments, 168 townhouses and 11 villas. The second project involves developing 3000 units with a mix of low-rise, low-density landed housing and medium-rise condominiums on 60 ha of land with a 1.5 km marina frontage at the southern tip of Yas Island. The two JV projects are expected to complete in 2011 and will cater to the upper-middle and high-end markets and expatriates. Abu Dhabi achived the highest per capita income of $46,185 last year with 10% of the worlds known oil reserves. The property market outlook is very positive over the next couple of years due to the favourable demand supply dynamics, rising expatriate population and reform on foreingn ownship. The move by Capitaland and Keppelland is in line with their expansion and diversification strategy by setting strong presence in the gulf region and benefit from the property upcycle in that region. It will also see strong ties between the two countries and more partnerships are expected to emerge.

Regional Morning Meeting Notes, June 12, 2007

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 rising demand in China and India.MALAYSIA IJM Plantations (SELL/RM2.27/Fair: RM2.10) Third land acquisition to enlarge its landbank to 62,000ha. Acquisitions are more aggressive than expected.SINGAPORE Property Capitaland and Keppelland enter Abu Dhabi. Property - Residential Sentosa land prices on the rise. China Milk Products Group (BUY/S$1.23/Target: S$1.85) Better execution needed. Lower target price due to higher financing costs.THAILAND Bangchak Petroleum (SELL/Bt9.20/Fair: Bt10.10) Long-term potential may look positive but we believe it is too early to jump in as the stock is extremely expensive at the moment. Maintain SELL.TALKING POINT: New World Development (0017.HK)For more details, click on the link.http://research.uobkayhian.com/research/content.show.action?filename=2007061209073366992526144.pdf

capella university

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.

TPV

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 URL belowhttp://www.gohdirect.com/NASApp/spaf/econtent/sg/GemsTV-080607.pdf

Selling Perth hotel

Selling hotel in Perth. 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$161.40 in April versus an average of S$140.14 in 2006. This means that the average for Jan-Apr 2007 of S$160.93 is already up 15% from last year's average. Will benefit HGC's hotel operations. HGC is likely to benefit from both the healthy domestic tourism receipt numbers as well as an expected good showing from its overseas hotel assets in Australia. Recently, it announced its first foray into the local hotel development market with its win of a land parcel at Belilios Road / Klang Lane for S$48.9m. This is a 99-year leasehold site with a land area of 3087 sqm. To complement its existing hotel operation in Singapore, we expect this to be another midtier hotel offering up to 400 rooms. Construction is likely to take 3 years and completion is likely in 2009. We expect this project to be funded by both internal resources and bank borrowings. Maintain BUY, but raising fair value to S$1.25. HGC's shares have done well, up 50.6% this year and 24.6% last year. Despite the sharp price appreciation, we are retaining our BUY rating as the Belilios site gives us greater confidence that the group is developing and expanding its Singapore operations. Our fair value estimate of S$1.13 is now deemed to be conservative in view of the improving business prospects. We are raising our fair value from S$1.13 (10% discount to book) to S$1.25 (or 1x book).

capella university

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 pass the 17,900 mark and still growing.

Spore Health Sector

1 June 2007Singapore Healthcare 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/NASApp/spaf/econtent/sg/SIN-Healthcare-010607.pdf

China Market

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 attitude of watching to avoid therisk of correction.Positive:* According to the nation's economic planning agency, investment inChina's steel sector rose 13.5 percent in the first quarter of 2007 overthesame period last year, the highest growth rate in the past year. Theinvestment totaled RMB 36.9 billion between January and March, said areportfrom the National Development and Reform Commission (NDRC). China's netexports of crude steel equivalent reached 12.19 million tons, 340 percenthigher than the previous year's first quarter. And The Chinese governmenthas set a goal of reducing energy consumption per unit of gross domesticproduct by 20 percent between 2006 and 2010, while pollutant dischargesshould drop by 10 percent.* Beijing Energy Group will purchase 54 million new issued shares fromof Tianchuang Property (600791.SS). After this purchasing, Beijing EnergyGroup wants to input its real estate business into Tianchuang. Tianhucanghas built 0.3 million square meters apartment for the Beijing Olympic Gamein August 2008.* Huahai Pharmaceutical Co., (600521.SS) announced its financialsituationof first quarter 2007 as follow, operate income was RMB 0.145 billion, up17% QoQ, net profit was RMB 24.47 million, down 26% QoQ. It?¡¥s verypossiblethat Huahai will get the license from FDA for its anti-AIDS drug. Analystsexpect the EPS of Huahai in 2007, 2008 and 2009 will be RMB 0.56, RMB 0.73and RMB 0.97.

capella university

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.

Regional Morning Meeting Notes, June 01, 2007

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 Technologies (BUY/S$2.50/Target: S$3.36) New expansion plan to fuel earnings. Sino Environment Technology (BUY/S$3.24/target: S$2.80) New MOU with Huadian. Our BUY call and target price are under review. THAILAND Finance Ministry slashes GDP growth forecast for 2007 TALKING POINT: Sinopec (386 HK) For more details, click on the link. http://research.uobkayhian.com/research/content.show.action?filename=2007060108544947255738759.pdf

Sino Environment Technology Group

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

capella university

Capella University’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.

Addvalue Technologies

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 Agreement with Inmarsat in Aug 04 to supply BGAN terminals after receiving additional fee of US$1.95m to commence preparations for mass production. Strategic alliance with Norway-based Telenor. Addvalue has appointed Telenor Satellite Services’ wholly owned subsidiary GMPCS Personal Communications as master distributor for its Inmarsat BGAN terminals. Addvalue and Telenor Satellite Services has also entered into strategic business agreement to provide satellite communications services for the terrestrial, maritime and aeronautical markets. The two companies intend to bundle Addvalue’s SABRE 1 BGAN terminal with Telenor’s satellite airtime. Addvalue has also granted Telenor options to purchase 128m shares. Collaboration with Singtel. Addvalue and Singtel will jointly promote andmarket satellite-based Business Continuity Plan (BCP) communications package. The package is affordably priced at US$99.99/month. It allows corporate customers to set up mobile office in remote locations or in situation where normal communications channels breakdowns, for instance after natural disasters. Reliability is ensured as the system solely relies on satellite communications and does not depend on existing infrastructure such as telephone networks and submarine cables. Both parties are also exploring possibility of bundling customised solution for the maritime industry. Healthy order book. Addvalue has a healthy order book of US$4.5m for BGAN terminals. The company currently produces 1,000 units of BGAN terminals/month with manufacturing outsourced to contract manufacturer. Inmarsat has 227,500 subscribers for Global Area Network (GAN). Demand for BGAN terminals will increase as more subscribers migrate from GAN to BGAN. GAN is limited by IP data speed of only 64kbps. The industry has consolidated to only three players, namely Thrane & Thrane, Huges Network and Addvalue Technologies, after Thrane & Thrane acquired Nera SatCom. Addvalue is the only authorised supplier of Inmarsat BGAN terminals based in Asia. Introduction to Inmarsat BGAN. Inmarsat Broadband Global Area Network (BGAN) is the first mobile communications service to provide both voice and broadband data on a global basis. The service was launched in Dec 05 and was initially available only in Europe, Africa, the Middle East and Asia. Network coverage has since been extended to North and South America from Q206 following the successful launch of Inmarsat's second I-4 satellite. The service is designed for mobile users requiring dependable and secure broadband access in locations where telecommunications infrastructure is unreliable or non-existent. BGAN allows users to access their corporate network, use e-mail, browse the Internet, send large file attachments, stream video or audio and make a phone call at the same time. It provides IP data speed of up to 492kbps.

Singapore Airport Terminal Srvcs

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 the strength of primary customer SIA’s strong passenger perfromance. At S$3.24 SATS is trading against our generous earnings forecast at FY08 PE of 18.6x, versus a historical average of 10.5x. FY08 PB is now 2.4x against historical 1.8x. The premium will only be justified if SIA meets expectations to sell SATS. At current valuations, we recommend that SIA do just that

capella university

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.

ST Engineering and others

ST Engineering: 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