Genting International P.L.C. on Tuesday said it was planning to seek shareholders' approval to change its name to 'Genting Singapore PLC' at an Extraordinary General Meeting on April 24, 2009.
The company, which is developing the Resorts World at Sentosa, is also proposing the addition of the international sales and marketing agreement to the shareholders' mandate for interested person transactions, among others.
Tuesday, March 31, 2009
Shares close up 1.60%
SINGAPORE - Singapore shares closed 1.60 per cent higher on Tuesday as investors hunted for bargains following a steep fall the previous day, dealers said.
The blue-chip Straits Times Index rose 26.85 points to 1,699.99 on volume of 1.32 billion shares worth $1.24 billion (US$814 million).
Gainers led losers 246 to 161, with 862 issues unchanged.
Traders said local investors will be taking guidance from the US stock market in the days ahead.
'We need clearer direction from the US side before there's more confidence here,' said a trader from a local brokerage.
Banking shares were up. DBS gained 24 cents to $8.45, United Overseas Bank rose 12 cents to $9.72 and Oversea-Chinese Banking Corp edged up six cents to $4.84.
Property shares also gained. CapitaLand was up nine cents to $2.33, City Developments advanced 12 cents to $5.10 and Keppel Land closed four cents higher at $1.45.
Singapore Airlines was unchanged at $10.00 and Singapore Telecommunications edged up two cents to $2.53.
Motor vehicle firm Jardine Cycle and Carriage rose 64 cents to $11.84, and oil rig maker Keppel Corp gained five cents to $5.01.
The blue-chip Straits Times Index rose 26.85 points to 1,699.99 on volume of 1.32 billion shares worth $1.24 billion (US$814 million).
Gainers led losers 246 to 161, with 862 issues unchanged.
Traders said local investors will be taking guidance from the US stock market in the days ahead.
'We need clearer direction from the US side before there's more confidence here,' said a trader from a local brokerage.
Banking shares were up. DBS gained 24 cents to $8.45, United Overseas Bank rose 12 cents to $9.72 and Oversea-Chinese Banking Corp edged up six cents to $4.84.
Property shares also gained. CapitaLand was up nine cents to $2.33, City Developments advanced 12 cents to $5.10 and Keppel Land closed four cents higher at $1.45.
Singapore Airlines was unchanged at $10.00 and Singapore Telecommunications edged up two cents to $2.53.
Motor vehicle firm Jardine Cycle and Carriage rose 64 cents to $11.84, and oil rig maker Keppel Corp gained five cents to $5.01.
亚太股市周二涨跌互见
亚太股市周二涨跌互见，由于投资者在日本当前财年结束前锁定收益，东京股市今日走势振荡。金融类股下滑拖累日经指数收盘走低。该指数本财年累计下挫35%。
东京股市下跌，受投资者再度对美国汽车业问题感到担忧影响，Mitsui Sumitomo Insurance Group等金融股遭到抛售，因市场担心这些公司的资产负债情况会受到影响。周二也是日本当前财政年度的最后一天。日经指数收盘下跌126.55点，至8109.53点，跌幅1.5%。由于全球金融危机拖累股价，该指数自当前财政年度开始以来累计下跌了35%。包括东京证交所一部所有股票在内的东证指数下跌15.88点，至773.66点，跌幅2.0%。六月日经指数期货合约收盘下跌1%，至8120点。
香港股市收盘走高，中国建设银行股份有限公司(China Construction Bank Corp.)表示，主要海外投资者不准备大规模抛售公司股票。受此提振，中国几大国有银行的股票在香港市场强劲上扬，带动恒生指数在3月最后一个交易日走强。恒生指数涨119.69点，至13,576.02点，涨幅0.9%，盘中一度触及高点13,696.69点。尽管该指数3月份表现良好，但自年初以来仍累计下挫5.6%。成交额共计490.4亿港元，略低于较周一的515.3亿港元。
中国股市收盘走高，保险类股上扬，因政府有望采取措施支持保险业，这使市场扭转了早些时候由流动性担忧所造成的跌势。中国证券监督管理委员会(China Securities Regulatory Commission)之前公布了首次公开募股(IPO)并在创业板(Growth Enterprise Market)上市的管理办法，为在中国推出纳斯达克式的创业板市场做好了铺垫。上证综合指数收盘涨0.6%，至2373.21点，前市阶段一度跌至2299.16点。深证综合指数涨0.9%，至784.08点。
尽管股市在月末之际大幅振荡，但澳大利亚股市仍表现出一定弹性，基本摆脱了美国股市周一大幅下跌的影响。季度末买盘和针对Macquarie Communications Infrastructure Group的收购提议对大盘构成支撑。基准S&P/ASX 200指数收盘下跌了22.3点，至3582.1点，跌幅0.6%，成交量不大，早盘该指数曾一度下探3570.5低点。
新加坡股市收盘走高，受投资者逢低吸纳推动；不过股指未能悉数收复前一交易日失地，因投资者仍然对全球经济前景和金融业现状感到不安和担忧。海峡时报指数收盘涨26.85点，至1699.99点，涨幅1.6%。
东京股市下跌，受投资者再度对美国汽车业问题感到担忧影响，Mitsui Sumitomo Insurance Group等金融股遭到抛售，因市场担心这些公司的资产负债情况会受到影响。周二也是日本当前财政年度的最后一天。日经指数收盘下跌126.55点，至8109.53点，跌幅1.5%。由于全球金融危机拖累股价，该指数自当前财政年度开始以来累计下跌了35%。包括东京证交所一部所有股票在内的东证指数下跌15.88点，至773.66点，跌幅2.0%。六月日经指数期货合约收盘下跌1%，至8120点。
香港股市收盘走高，中国建设银行股份有限公司(China Construction Bank Corp.)表示，主要海外投资者不准备大规模抛售公司股票。受此提振，中国几大国有银行的股票在香港市场强劲上扬，带动恒生指数在3月最后一个交易日走强。恒生指数涨119.69点，至13,576.02点，涨幅0.9%，盘中一度触及高点13,696.69点。尽管该指数3月份表现良好，但自年初以来仍累计下挫5.6%。成交额共计490.4亿港元，略低于较周一的515.3亿港元。
中国股市收盘走高，保险类股上扬，因政府有望采取措施支持保险业，这使市场扭转了早些时候由流动性担忧所造成的跌势。中国证券监督管理委员会(China Securities Regulatory Commission)之前公布了首次公开募股(IPO)并在创业板(Growth Enterprise Market)上市的管理办法，为在中国推出纳斯达克式的创业板市场做好了铺垫。上证综合指数收盘涨0.6%，至2373.21点，前市阶段一度跌至2299.16点。深证综合指数涨0.9%，至784.08点。
尽管股市在月末之际大幅振荡，但澳大利亚股市仍表现出一定弹性，基本摆脱了美国股市周一大幅下跌的影响。季度末买盘和针对Macquarie Communications Infrastructure Group的收购提议对大盘构成支撑。基准S&P/ASX 200指数收盘下跌了22.3点，至3582.1点，跌幅0.6%，成交量不大，早盘该指数曾一度下探3570.5低点。
新加坡股市收盘走高，受投资者逢低吸纳推动；不过股指未能悉数收复前一交易日失地，因投资者仍然对全球经济前景和金融业现状感到不安和担忧。海峡时报指数收盘涨26.85点，至1699.99点，涨幅1.6%。
云顶渡过卖压再现活跃
云顶（Genting，3182，主板贸服股）交投今日又活跃起来。近日来分析员对这只股项给予守住评级，并指这只股项已渡过沉重的卖压期。 该股全日闭市报3.68令吉，下跌0.10令吉。
商业机器逆市而上 综合指数全日下跌16.09点或1.82%至869.34点，整体大市处于下滑格局。惟商业机器(Msniaga，5011，主板科技股）则逆市而上。 该股全日上升0.19令吉或15.70%，报1.40令吉。
大马机场全日挫7.89% 大马机场（Airport，5014，主板贸服股）全日挫跌0.21令吉或7.89%，以2.45令吉挂收。 该公司预测其旗下所有机场的搭客流量将会萎缩5％，所以今年的税前盈利估计只有5亿9100万令吉。
侨丰创投异军突起 侨丰创投（OSKVI，0053，自动报价股）今日异军突起， 取得23.21%或0.13令吉的涨幅，全日以0.69令吉挂收。公司早前宣布，将在下个月中召开的股东大会中，寻求股东有关公司回购股票的建议。
Source
商业机器逆市而上 综合指数全日下跌16.09点或1.82%至869.34点，整体大市处于下滑格局。惟商业机器(Msniaga，5011，主板科技股）则逆市而上。 该股全日上升0.19令吉或15.70%，报1.40令吉。
大马机场全日挫7.89% 大马机场（Airport，5014，主板贸服股）全日挫跌0.21令吉或7.89%，以2.45令吉挂收。 该公司预测其旗下所有机场的搭客流量将会萎缩5％，所以今年的税前盈利估计只有5亿9100万令吉。
侨丰创投异军突起 侨丰创投（OSKVI，0053，自动报价股）今日异军突起， 取得23.21%或0.13令吉的涨幅，全日以0.69令吉挂收。公司早前宣布，将在下个月中召开的股东大会中，寻求股东有关公司回购股票的建议。
Source
Monday, March 30, 2009
Shares close down 4.15%
SINGAPORE - Singapore shares closed 4.15 per cent lower on Monday as investors locked in profits from a recent rally while more concerns about the US automobile industry weighed on sentiment, dealers said.
The blue-chip Straits Times Index (STI) closed 72.52 points lower at 1,673.14 on volume of 1.06 billion shares worth $882 million (US$579 million US).
Losers outnumbered gainers 367 to 120, with 782 issues unchanged.
Ailing US auto makers General Motors and Chrysler were told by a White House task force Monday they had failed to lay out viable plans for them to receive government aid, a move that could shake up the nation's car industry.
Publication of the report followed news that GM chief executive Rick Wagoner has resigned.
'People are saying the US is prepared to let the automakers collapse. In terms of unemployment, it will have a huge impact on markets,' said an analyst at a local brokerage.
Banking shares performed poorly. United Overseas Bank slid 58 cents to $9.60, DBS fell 35 cents to $8.21 and Oversea-Chinese Banking Corp shed 17 cents to $4.78.
Among property shares, City Developments fell 33 cents to $4.98, CapitaLand retreated 18 cents to $2.24 and Keppel Land closed 10 cents lower at $1.41.
Singapore Airlines shed 18 cents to 10.00 and Singapore Telecommunications fell 11 cents to $2.51.
Marine engineering firm Sembcorp Marine eased 16 cents to $1.75 and beverage maker Fraser and Neave closed down 14 cents at $2.44.
The blue-chip Straits Times Index (STI) closed 72.52 points lower at 1,673.14 on volume of 1.06 billion shares worth $882 million (US$579 million US).
Losers outnumbered gainers 367 to 120, with 782 issues unchanged.
Ailing US auto makers General Motors and Chrysler were told by a White House task force Monday they had failed to lay out viable plans for them to receive government aid, a move that could shake up the nation's car industry.
Publication of the report followed news that GM chief executive Rick Wagoner has resigned.
'People are saying the US is prepared to let the automakers collapse. In terms of unemployment, it will have a huge impact on markets,' said an analyst at a local brokerage.
Banking shares performed poorly. United Overseas Bank slid 58 cents to $9.60, DBS fell 35 cents to $8.21 and Oversea-Chinese Banking Corp shed 17 cents to $4.78.
Among property shares, City Developments fell 33 cents to $4.98, CapitaLand retreated 18 cents to $2.24 and Keppel Land closed 10 cents lower at $1.41.
Singapore Airlines shed 18 cents to 10.00 and Singapore Telecommunications fell 11 cents to $2.51.
Marine engineering firm Sembcorp Marine eased 16 cents to $1.75 and beverage maker Fraser and Neave closed down 14 cents at $2.44.
亚太股市周一全线走低
亚太股市周一全线走低，因有报导称奥巴马政府迫使通用汽车(GM)首席执行长请辞、并建议对美国苦苦挣扎的汽车业以“迅速的、外科式的”方式使用破产法，投资者出于避险考虑抛出了手中股票。
东京股市创下2009年第三大点数跌幅，因市场对美国汽车生产商破产的担心再度升温推动美元兑日圆走软，受此影响，市场获利回吐操作增加。日经225指数收盘下跌390.89点，至8236.08点，跌幅4.5%。包括东京证交所一部所有股票的东证指数下跌34.99点，至789.54点，跌幅为4.2%。
香港股市大跌，因在建设银行(China Construction Bank)公布了弱于预期的2008年业绩之后，中资银行股遭遇获利回吐。恒生指数跌663.17点，至13,456.33点，跌幅4.7%，盘中在13,413.48-13,893.15点之间波动。成交额降至515.3亿港元，上周五为589亿港元。
中国股市收盘走低，受市场继在上周上涨后遭遇获利回吐、美国股市上周五下跌等因素拖累；由于两家大型资源类公司公布2008年收益出现严重下滑，钢铁及有色金属类股领跌。上证综合指数收盘跌0.7%，至2358.04点，回吐了上周的部分涨幅。该股指上周累计上涨4.1%。深证综合指数跌0.2%，至777.39点。
澳大利亚股市结束了连续五个交易日的涨势，盘中跌至三个交易日来低点，因美国政府发表的讲话凸现出美国汽车业岌岌可危的现状，从而对美国股指期货走势构成拖累。S&P/ASX 200指数收盘下跌67.9点，至3604.4点，跌幅1.9%，盘中曾一度跌至3592.8点。
新加坡股市本周开局人气消沉，投资者在美国汽车公司可能破产的消息传出之后变得惴惴不安，市场中避险情绪也出现升温。海峡时报指数收盘跌72.52点，至1673.14点，跌幅4.2%。367只股票下跌，120只股票上涨。成交量为11亿股，低于上周五的17亿股。
东京股市创下2009年第三大点数跌幅，因市场对美国汽车生产商破产的担心再度升温推动美元兑日圆走软，受此影响，市场获利回吐操作增加。日经225指数收盘下跌390.89点，至8236.08点，跌幅4.5%。包括东京证交所一部所有股票的东证指数下跌34.99点，至789.54点，跌幅为4.2%。
香港股市大跌，因在建设银行(China Construction Bank)公布了弱于预期的2008年业绩之后，中资银行股遭遇获利回吐。恒生指数跌663.17点，至13,456.33点，跌幅4.7%，盘中在13,413.48-13,893.15点之间波动。成交额降至515.3亿港元，上周五为589亿港元。
中国股市收盘走低，受市场继在上周上涨后遭遇获利回吐、美国股市上周五下跌等因素拖累；由于两家大型资源类公司公布2008年收益出现严重下滑，钢铁及有色金属类股领跌。上证综合指数收盘跌0.7%，至2358.04点，回吐了上周的部分涨幅。该股指上周累计上涨4.1%。深证综合指数跌0.2%，至777.39点。
澳大利亚股市结束了连续五个交易日的涨势，盘中跌至三个交易日来低点，因美国政府发表的讲话凸现出美国汽车业岌岌可危的现状，从而对美国股指期货走势构成拖累。S&P/ASX 200指数收盘下跌67.9点，至3604.4点，跌幅1.9%，盘中曾一度跌至3592.8点。
新加坡股市本周开局人气消沉，投资者在美国汽车公司可能破产的消息传出之后变得惴惴不安，市场中避险情绪也出现升温。海峡时报指数收盘跌72.52点，至1673.14点，跌幅4.2%。367只股票下跌，120只股票上涨。成交量为11亿股，低于上周五的17亿股。
Saturday, March 28, 2009
新加坡联合金属 拟三配一售附加股
新加坡联合金属（Unionmet）计划以每3股配1股的比例，发售2亿4542万股附加股（占现有股本的67％、扩大后股本的40％），每股售价2分。这些是可弃权附加股，而且没有包销商。
每股2分的发售价，比周一该股的最后交易价（4分）低50％。主要大股东（共持有17％股权）已承诺认购所配得的附加股，而且打算认购剩下的未获其他股东认购的附加股。
该公司将寻求其余股东批准豁免大股东提出全面收购献议，这是发售计划的先决条件之一。若全部获得认购，发售附加股计划将为公司筹得478万元资金，并全充作加强资本底子、支持业务开发以及扩充业务。
新加坡联合金属截至2月底第一季亏损增加19％至301万美元，营收猛跌49％至204万美元，每股亏损0.82美分，每股净资产值为9.11美分。
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每股2分的发售价，比周一该股的最后交易价（4分）低50％。主要大股东（共持有17％股权）已承诺认购所配得的附加股，而且打算认购剩下的未获其他股东认购的附加股。
该公司将寻求其余股东批准豁免大股东提出全面收购献议，这是发售计划的先决条件之一。若全部获得认购，发售附加股计划将为公司筹得478万元资金，并全充作加强资本底子、支持业务开发以及扩充业务。
新加坡联合金属截至2月底第一季亏损增加19％至301万美元，营收猛跌49％至204万美元，每股亏损0.82美分，每股净资产值为9.11美分。
Source
Brokers' Take
Shipping trustsOCBC INVESTMENT RESEARCH, March 26
THE container shipping industry faces a major supply-demand imbalance. According to AXS Alphaliner, outstanding orders for new ships account for about 47.6 per cent of the existing fleet. This translates to a 12.9 per cent per annum growth in the world fleet over the next three years.
With the global recession dampening demand, especially the US consumption story, we expect tough times ahead for the container industry.
Major operators, including shipping trust customers, have announced lay ups, vessel re-deliveries, and plans to attempt to delay order deliveries. About 1.1 million TEUs (twenty-foot equivalent units), or 8 per cent of the world's total container fleet, is currently idle. This broader reality can have a major impact on the trusts' cash flows - and consequently, on distributions to unitholders.
Charterer performance will be key in the coming months - if economic conditions continue to deteriorate, we could see charterers approaching the trust to renegotiate leases.
US-listed comparable, Danaos Corp (not rated), announced that it was suspending dividend payments to divert cash towards funding its new-building programme. It also delayed some deliveries. Back in Singapore, Rickmers Maritime (RMT) is contracted to acquire US$988 million worth of containerships over the next two years, with partial debt funding currently in place.
The manager has so far only said that it 'is exploring all options' to finance its order book, but this is not enough. The market needs more clarity on what RMT will do and whether it will (or can) follow the Danaos route of delaying deliveries or cutting dividends.
Unlike RMT, First Ship Lease Trust (FSLT) and Pacific Shipping Trust (PST) have no committed orders. Meanwhile, FSLT will retain about 20-25 per cent of cash income in Q1 2009 (versus a 100 per cent distribution payout previously) to prepay debt as a pre-emptive 'good faith' gesture to lenders eyeing debt covenants.
We believe that there is room for FSLT to lower payout further to a point where both unitholders and lenders are satisfied. In comparison, PST is only paying out about 50 per cent of cash income. An explicit debt repayment plan would also demonstrate FSLT's commitment to sustainability, in our view.
Still 'neutral' on the sector. While the Straits Times Index is down 4 per cent year-to-date, Singapore-listed shipping trusts are down 10 per cent for the year.
On average, the sector is trading at a 66 per cent discount to net asset value (NAV), but we are not quite ready to call this a 'value' opportunity. In our opinion, a re-rating of the sector depends on signs of an improving external environment and the trusts taking more aggressive action to remedy some fundamental concerns.Sector - NEUTRAL
S-shares agriculture sectorDMG & PARTNERS SECURITIES, March 26
FOR the first time since December 2002, China's consumer price index (CPI) slipped into negative.
China's inflation rate was at its 12-year peak of 8.7 per cent y-o-y in February 2008 due to shortages of grain and pork. But China's CPI fell 1.6 per cent y-o-y last month (food prices fell 1.9 per cent y-o-y). Grain prices rose 4.4 per cent y-o-y last month. We believe that this is due to the drought that hit China during Q1 2009.
We believe that if the current deflation in food prices continues in 2009, this will affect China's agriculture sector negatively, namely China Fishery and China XLX Fertiliser.
China Fishery
Aquatic product prices rose 3.3 per cent y-o-y in February, slower than January's 11.6 per cent rise. We believe that fish prices will remain stable in China due to continued demand. Alaskan pollock is the most common type of fish used in fast-food restaurants and as the global economy continues to worsen, we could see more people switching their diets to Alaskan pollock from other more expensive fishes.
We believe that China Fishery's FY2009 revenue will grow by 3 per cent to US$340 million from fishing. Management forecasts a total of 200,000 tonnes/annum of fish to be caught in FY2009 with an average selling price (ASP) of US$1,700/tonne.
Maintain 'buy' for China Fishery with a price target of $0.86 based on 3.9x FY2009 price earnings ratio.
China XLX Fertiliser
Prices for grain rose 4.4 per cent y-o-y in February and 3.9 per cent y-o-y in January. We believe that higher prices for grain were due to speculation of China's drought situation.
Management has indicated to us that the drought in Henan was not as bad as reports indicated and urea ASP remained constant at an average of 1,950 yuan/tonne (S$430/tonne) year-to-date.
If food prices continue to deflate in FY2009, this could negatively affect China XLX, because farmers will not purchase fertiliser due to cheaper food.
Currently, we are monitoring China XLX's urea and compound fertiliser sales. We are concerned that there may be an oversupply situation of fertiliser in China due to more capacity coming on stream. On the other hand, we believe that the government's 12.3 billion yuan expenditure in the agriculture sector is a tremendous step going forward.
We are currently reviewing our earnings for China XLX as we reassess its compound fertiliser profitability in FY2009.Sector - OVERWEIGHT
THE container shipping industry faces a major supply-demand imbalance. According to AXS Alphaliner, outstanding orders for new ships account for about 47.6 per cent of the existing fleet. This translates to a 12.9 per cent per annum growth in the world fleet over the next three years.
With the global recession dampening demand, especially the US consumption story, we expect tough times ahead for the container industry.
Major operators, including shipping trust customers, have announced lay ups, vessel re-deliveries, and plans to attempt to delay order deliveries. About 1.1 million TEUs (twenty-foot equivalent units), or 8 per cent of the world's total container fleet, is currently idle. This broader reality can have a major impact on the trusts' cash flows - and consequently, on distributions to unitholders.
Charterer performance will be key in the coming months - if economic conditions continue to deteriorate, we could see charterers approaching the trust to renegotiate leases.
US-listed comparable, Danaos Corp (not rated), announced that it was suspending dividend payments to divert cash towards funding its new-building programme. It also delayed some deliveries. Back in Singapore, Rickmers Maritime (RMT) is contracted to acquire US$988 million worth of containerships over the next two years, with partial debt funding currently in place.
The manager has so far only said that it 'is exploring all options' to finance its order book, but this is not enough. The market needs more clarity on what RMT will do and whether it will (or can) follow the Danaos route of delaying deliveries or cutting dividends.
Unlike RMT, First Ship Lease Trust (FSLT) and Pacific Shipping Trust (PST) have no committed orders. Meanwhile, FSLT will retain about 20-25 per cent of cash income in Q1 2009 (versus a 100 per cent distribution payout previously) to prepay debt as a pre-emptive 'good faith' gesture to lenders eyeing debt covenants.
We believe that there is room for FSLT to lower payout further to a point where both unitholders and lenders are satisfied. In comparison, PST is only paying out about 50 per cent of cash income. An explicit debt repayment plan would also demonstrate FSLT's commitment to sustainability, in our view.
Still 'neutral' on the sector. While the Straits Times Index is down 4 per cent year-to-date, Singapore-listed shipping trusts are down 10 per cent for the year.
On average, the sector is trading at a 66 per cent discount to net asset value (NAV), but we are not quite ready to call this a 'value' opportunity. In our opinion, a re-rating of the sector depends on signs of an improving external environment and the trusts taking more aggressive action to remedy some fundamental concerns.Sector - NEUTRAL
S-shares agriculture sectorDMG & PARTNERS SECURITIES, March 26
FOR the first time since December 2002, China's consumer price index (CPI) slipped into negative.
China's inflation rate was at its 12-year peak of 8.7 per cent y-o-y in February 2008 due to shortages of grain and pork. But China's CPI fell 1.6 per cent y-o-y last month (food prices fell 1.9 per cent y-o-y). Grain prices rose 4.4 per cent y-o-y last month. We believe that this is due to the drought that hit China during Q1 2009.
We believe that if the current deflation in food prices continues in 2009, this will affect China's agriculture sector negatively, namely China Fishery and China XLX Fertiliser.
China Fishery
Aquatic product prices rose 3.3 per cent y-o-y in February, slower than January's 11.6 per cent rise. We believe that fish prices will remain stable in China due to continued demand. Alaskan pollock is the most common type of fish used in fast-food restaurants and as the global economy continues to worsen, we could see more people switching their diets to Alaskan pollock from other more expensive fishes.
We believe that China Fishery's FY2009 revenue will grow by 3 per cent to US$340 million from fishing. Management forecasts a total of 200,000 tonnes/annum of fish to be caught in FY2009 with an average selling price (ASP) of US$1,700/tonne.
Maintain 'buy' for China Fishery with a price target of $0.86 based on 3.9x FY2009 price earnings ratio.
China XLX Fertiliser
Prices for grain rose 4.4 per cent y-o-y in February and 3.9 per cent y-o-y in January. We believe that higher prices for grain were due to speculation of China's drought situation.
Management has indicated to us that the drought in Henan was not as bad as reports indicated and urea ASP remained constant at an average of 1,950 yuan/tonne (S$430/tonne) year-to-date.
If food prices continue to deflate in FY2009, this could negatively affect China XLX, because farmers will not purchase fertiliser due to cheaper food.
Currently, we are monitoring China XLX's urea and compound fertiliser sales. We are concerned that there may be an oversupply situation of fertiliser in China due to more capacity coming on stream. On the other hand, we believe that the government's 12.3 billion yuan expenditure in the agriculture sector is a tremendous step going forward.
We are currently reviewing our earnings for China XLX as we reassess its compound fertiliser profitability in FY2009.Sector - OVERWEIGHT
Shares close weaker
SINGAPORE - Singapore shares closed 0.75 per cent lower on Friday as investors booked profits ahead of the weekend, dealers said.
The blue-chip Straits Times Index fell 13.13 points to 1,745.66.
Volume totalled 1.70 billion shares worth $1.08 billion (US$727 million). There were 211 rising issues, 218 losers and 830 even.
'It's to be expected that the market would give back some of its strong recent gains,' AmFraser's senior vice-president of equity sales Gabriel Gan was quoted as saying by Dow Jones Newswires.
'I think the pullback will be fairly mild and last maybe a couple of days, then I'm expecting the uptrend to resume.'
Among the banks, DBS fell 18 cents to $8.56, United Overseas Bank dropped 36 cents to $10.18 and Oversea-Chinese Banking Corp eased 12 cents to $4.95.
For the property firms, City Developments gained two cents to $5.31, CapitaLand added five cents to $2.42 and Keppel Land advanced two cents to $1.51.
Singapore Airlines slipped 12 cents to $10.18 and Singapore Telecommunications gained five cents to $2.62.
The blue-chip Straits Times Index fell 13.13 points to 1,745.66.
Volume totalled 1.70 billion shares worth $1.08 billion (US$727 million). There were 211 rising issues, 218 losers and 830 even.
'It's to be expected that the market would give back some of its strong recent gains,' AmFraser's senior vice-president of equity sales Gabriel Gan was quoted as saying by Dow Jones Newswires.
'I think the pullback will be fairly mild and last maybe a couple of days, then I'm expecting the uptrend to resume.'
Among the banks, DBS fell 18 cents to $8.56, United Overseas Bank dropped 36 cents to $10.18 and Oversea-Chinese Banking Corp eased 12 cents to $4.95.
For the property firms, City Developments gained two cents to $5.31, CapitaLand added five cents to $2.42 and Keppel Land advanced two cents to $1.51.
Singapore Airlines slipped 12 cents to $10.18 and Singapore Telecommunications gained five cents to $2.62.
Friday, March 27, 2009
Wall St hopes, window-dressing lift STI
The index surges 4% to 1,758.79, raising it from a 17% loss to a 0.7% gain so far this quarter
HOPES that Wall Street will continue to believe in an economic turnaround yesterday combined with hefty doses of quarter-ending window-dressing to propel the Straits Times Index up 67.11 points or about 4 per cent to 1,758.79. This has lifted the index from a steep 290-point or 17 per cent loss to a 12-point or 0.7 per cent gain so far this quarter.
Heavyweight index stocks were the main target, led by banks and property. Turnover excluding foreign currency issues amounted to 1.6 billion worth $1.4 billion, up from Wednesday's $988 million.
Providing the backdrop was a 3.6 per cent jump in Hong Kong's Hang Seng Index, which in turn was probably in response to expectations that the US market would buy into faint signs that its economy may be close to a bottom following a small uptick in the latest home sales and durable goods figures.
Counting in favour of this was a 60-point rise in the June futures contract on the Dow Jones Industrial Average; counting against it was a mixed opening across Europe in the late afternoon.
In the commodities segment, Olam International stood out with a 10-cent or 7.2 per cent rise to $1.48. Credit Suisse in a March 24 report rated the stock an 'outperform', saying that Olam is one of the best ways to play the structural agricultural commodity theme, given the company's robust business model and well-defined growth strategy. Credit Suisse has a $2.10 target price for Olam based on a discounted cash flow model.
Brokers reported clients attracted by the upward momentum now desperate to buy, driven by fear of being left out of what might turn out to be yet another bear market rally. 'A week ago, nobody was interested. Today, people are afraid of missing out, especially those who think the push might not last,' said a dealer.
Another noted that the market has been plagued by bad news for so long that the absence of fresh bad news - at least for the past few days - has enabled some buying momentum to get a grip. The near-term problem, however, is that there are no signs that earnings have bottomed yet, while longer-term it is not clear if the US's bank rescue plan will work.
Sceptics of the economic recovery theory, in the meantime, point to the timing of the run during the final two weeks of March, as suggesting that an absence of fresh bad news and the announcement of a new, supposedly attractive US bank rescue plan, were perhaps the cues that triggered hectic quarter-ending short-covering and window-dressing by funds that had taken a drubbing this year and are in serious need of padding their performance.
Whatever the case, the bounce of the past fortnight has taken the STI, from 1,456 on March 9, up 302 points or 21 per cent in three weeks.
Whether this continues would depend heavily on the success of US Treasury Secretary Timothy Geithner's newest bank bailout plan over which scepticism abounds.
An article titled 'Geithner's plan isn't money in the bank', which was co-authored by MIT economics professor Simon Johnson said that there are three reasons for concern over the plan for the government to partner the private sector in buying up bad bank assets:
HOPES that Wall Street will continue to believe in an economic turnaround yesterday combined with hefty doses of quarter-ending window-dressing to propel the Straits Times Index up 67.11 points or about 4 per cent to 1,758.79. This has lifted the index from a steep 290-point or 17 per cent loss to a 12-point or 0.7 per cent gain so far this quarter.
Heavyweight index stocks were the main target, led by banks and property. Turnover excluding foreign currency issues amounted to 1.6 billion worth $1.4 billion, up from Wednesday's $988 million.
Providing the backdrop was a 3.6 per cent jump in Hong Kong's Hang Seng Index, which in turn was probably in response to expectations that the US market would buy into faint signs that its economy may be close to a bottom following a small uptick in the latest home sales and durable goods figures.
Counting in favour of this was a 60-point rise in the June futures contract on the Dow Jones Industrial Average; counting against it was a mixed opening across Europe in the late afternoon.
In the commodities segment, Olam International stood out with a 10-cent or 7.2 per cent rise to $1.48. Credit Suisse in a March 24 report rated the stock an 'outperform', saying that Olam is one of the best ways to play the structural agricultural commodity theme, given the company's robust business model and well-defined growth strategy. Credit Suisse has a $2.10 target price for Olam based on a discounted cash flow model.
Brokers reported clients attracted by the upward momentum now desperate to buy, driven by fear of being left out of what might turn out to be yet another bear market rally. 'A week ago, nobody was interested. Today, people are afraid of missing out, especially those who think the push might not last,' said a dealer.
Another noted that the market has been plagued by bad news for so long that the absence of fresh bad news - at least for the past few days - has enabled some buying momentum to get a grip. The near-term problem, however, is that there are no signs that earnings have bottomed yet, while longer-term it is not clear if the US's bank rescue plan will work.
Sceptics of the economic recovery theory, in the meantime, point to the timing of the run during the final two weeks of March, as suggesting that an absence of fresh bad news and the announcement of a new, supposedly attractive US bank rescue plan, were perhaps the cues that triggered hectic quarter-ending short-covering and window-dressing by funds that had taken a drubbing this year and are in serious need of padding their performance.
Whatever the case, the bounce of the past fortnight has taken the STI, from 1,456 on March 9, up 302 points or 21 per cent in three weeks.
Whether this continues would depend heavily on the success of US Treasury Secretary Timothy Geithner's newest bank bailout plan over which scepticism abounds.
An article titled 'Geithner's plan isn't money in the bank', which was co-authored by MIT economics professor Simon Johnson said that there are three reasons for concern over the plan for the government to partner the private sector in buying up bad bank assets:
The public subsidy may not be enough because banks are carrying assets on their books at very high values.
Banks have an incentive to dump their worst assets first and because bidders know this, they may not bid at all.
The public may recoil at a plan which could see the private sector make theoretically riskless large returns and put pressure on the government.
Shares close 3.97% higher
SINGAPORE - Singapore shares rose 3.97 per cent on Thursday, cheered by strong performances in the US and regional stock markets, dealers said.
The blue-chip Straits Times Index (STI) gained 67.11 points to close at 1,758.79 on volume of 1.56 billion shares worth $1.41 billion (US$935 million).
Gainers outnumbered losers 364 to 117, with 778 issues unchanged.
The market brushed aside news that Singapore's manufacturing output fell 22.4 per cent in February from the previous year due to slumping global demand for pharmaceuticals and electronics products.
Travel arrivals for February declined 15.2 per cent from a year ago as the worldwide economic slump weighed on tourism, a major revenue earner for the small city-state.
Banking shares were up, with DBS gaining 32 cents to $8.74, United Overseas Bank rising 22 cents to $10.54 and Oversea-Chinese Banking Corp closing 20 cents up at $5.07.
Among property shares, CapitaLand advanced 17 cents to $2.37, City Developments rose 28 cents to $5.29 and Keppel Land edged up six cents to $1.49.
Singapore Airlines gained 28 cents to $10.30 and Singapore Telecommunications closed six cents higher at $2.57.
Motor vehicle firm Jardine Cycle and Carriage advanced $1.22 to $12.34 and beverage-maker Fraser and Neave rose 20 cents to $2.70.
The blue-chip Straits Times Index (STI) gained 67.11 points to close at 1,758.79 on volume of 1.56 billion shares worth $1.41 billion (US$935 million).
Gainers outnumbered losers 364 to 117, with 778 issues unchanged.
The market brushed aside news that Singapore's manufacturing output fell 22.4 per cent in February from the previous year due to slumping global demand for pharmaceuticals and electronics products.
Travel arrivals for February declined 15.2 per cent from a year ago as the worldwide economic slump weighed on tourism, a major revenue earner for the small city-state.
Banking shares were up, with DBS gaining 32 cents to $8.74, United Overseas Bank rising 22 cents to $10.54 and Oversea-Chinese Banking Corp closing 20 cents up at $5.07.
Among property shares, CapitaLand advanced 17 cents to $2.37, City Developments rose 28 cents to $5.29 and Keppel Land edged up six cents to $1.49.
Singapore Airlines gained 28 cents to $10.30 and Singapore Telecommunications closed six cents higher at $2.57.
Motor vehicle firm Jardine Cycle and Carriage advanced $1.22 to $12.34 and beverage-maker Fraser and Neave rose 20 cents to $2.70.
Wednesday, March 25, 2009
Triple Bottom (Reversal) ??
The triple bottom is a reversal pattern made up of three equal lows followed by a breakout above resistance. While this pattern can form over just a few months, it is usually a long-term pattern that covers many months. Because of its long-term nature, weekly charts can be best suited for analysis.
Tuesday, March 24, 2009
Wall Street soars 7 percent on bank plan debut
NEW YORK (Reuters) - Stocks surged around 7 percent on Monday after the Obama administration detailed a plan to purge toxic assets from bank balance sheets, fueling optimism about a revival in bank lending and driving double-digit gains in financial shares.
The S&P 500 and the Dow industrials posted their biggest one-day percentage gains since late October after Wall Street finally got what it was asking for: relief for the battered banking sector and more data suggesting the housing market could be on the mend.
The success of Treasury's plan hinges on private investment, so markets
were encouraged when several large investors, including Bill Gross of top bond fund Pimco, said they would participate in what has become a key part of the government's efforts to unlock credit markets and revitalize the recession-hit economy.
The KBW Bank index (Philadelphia:^BKX - News) posted its best one-day gain since at least 1993, driven higher by a 26 percent gain in Bank of America Corp (NYSE:BAC - News), a 25 percent advance in JPMorgan Chase & Co (NYSE:JPM - News) and a 20 percent gain in Citigroup Inc (NYSE:C - News).
"Even for a bear market rally this is explosive, and frankly it's jaw-dropping. This was a massive move that had three legs," said Peter Kenny, managing director at Knight Equity Markets in Jersey City, New Jersey.
Kenny cited three big factors driving the rally: the bank plan, its "benediction" by Pimco's Gross and traders reversing bets that stock prices would fall.
The Dow Jones industrial average (DJI:^DJI - News) jumped 497.48 points, or 6.84 percent, to 7,775.86 and the Standard & Poor's 500 Index (^SPX - News) surged 54.38 points, or 7.08 percent, to 822.92. The Nasdaq Composite Index (Nasdaq:^IXIC - News) spiked 98.50 points, or 6.76 percent, to 1,555.77.
The market capitalization of the Dow rose $167.4 billion, and the index is now up more than 10 percent on the month, nearly erasing a 12 percent fall in February.
While the removal of toxic assets from banks' balance sheets is seen as a crucial step in allowing banks to make new loans, it will also help bank shares, which are still down 30 percent year to date.
An unexpected rise in housing sales, seen as a key factor in spurring an economic recovery, also boosted sentiment. Data showed the pace of sales of existing homes in the United States rose 5.1 percent in February, the biggest increase since July 2003.
The housing data helped the Dow Jones index of home builders (DJI:^DJUSHB - News) rally nearly 15 percent, with shares of Lennar (NYSE:LEN - News) and Ryland Group (NYSE:RYL - News) up 20.4 percent and 17.6 percent respectively.
Even with the run-up, some analysts said the market had been due for a bounce given the damage incurred when stocks slid to 12-year lows earlier this month.
The benchmark S&P 500 index is up more than 20 percent from the bear market closing low set on March 9. The index on Monday closed above 800 for the first time since February 13.
The government's bank plan involves generous government financing to woo big investors to buy up toxic assets.
The Treasury Department will kick off the financing for its Public-Private Investment Program with $75 billion-$100 billion that will come from the $700 billion financial bailout fund approved by Congress last fall.
Oil shares on Monday were buoyed by a large merger deal in the energy sector and rising oil prices. Exxon Mobil (NYSE:XOM - News) jumped 6.7 percent at $70.53 and Chevron (NYSE:CVX - News) gained 6.9 percent to $69.15.
Canada's No. 2 oil company, Suncor Energy (Toronto:SU.TO - News), agreed to buy rival Petro-Canada (Toronto:PCA.TO - News) for about $14.9 billion to create Canada's largest oil company. Meanwhile, U.S. crude futures rose 3.3 percent or $1.73 to $53.80 a barrel.
On the earnings front, upscale jeweler Tiffany & Co (NYSE:TIF - News) jumped about 15.5 percent to $23.37 after reporting quarterly profit that beat expectations.
The S&P Retail index (Chicago Options:^RLX - News) rose nearly 6.42 percent.
And shares of Walgreen Co (NYSE:WAG - News) rose 9.4 percent to $26.58 after the drugstore chain posted better-than-expected profit.
Trading was active on the New York Stock Exchange, with about 1.91 billion shares changing hands, above last year's estimated daily average of 1.49 billion, while on Nasdaq, about 2.24 billion shares traded, below last year's daily average of 2.28 billion.
Advancing stocks outnumbered declining ones on the NYSE by 2863 to 259 while advancers beat decliners on the Nasdaq by about 2262 to 429.
Source
The S&P 500 and the Dow industrials posted their biggest one-day percentage gains since late October after Wall Street finally got what it was asking for: relief for the battered banking sector and more data suggesting the housing market could be on the mend.
The success of Treasury's plan hinges on private investment, so markets
were encouraged when several large investors, including Bill Gross of top bond fund Pimco, said they would participate in what has become a key part of the government's efforts to unlock credit markets and revitalize the recession-hit economy.
The KBW Bank index (Philadelphia:^BKX - News) posted its best one-day gain since at least 1993, driven higher by a 26 percent gain in Bank of America Corp (NYSE:BAC - News), a 25 percent advance in JPMorgan Chase & Co (NYSE:JPM - News) and a 20 percent gain in Citigroup Inc (NYSE:C - News).
"Even for a bear market rally this is explosive, and frankly it's jaw-dropping. This was a massive move that had three legs," said Peter Kenny, managing director at Knight Equity Markets in Jersey City, New Jersey.
Kenny cited three big factors driving the rally: the bank plan, its "benediction" by Pimco's Gross and traders reversing bets that stock prices would fall.
The Dow Jones industrial average (DJI:^DJI - News) jumped 497.48 points, or 6.84 percent, to 7,775.86 and the Standard & Poor's 500 Index (^SPX - News) surged 54.38 points, or 7.08 percent, to 822.92. The Nasdaq Composite Index (Nasdaq:^IXIC - News) spiked 98.50 points, or 6.76 percent, to 1,555.77.
The market capitalization of the Dow rose $167.4 billion, and the index is now up more than 10 percent on the month, nearly erasing a 12 percent fall in February.
While the removal of toxic assets from banks' balance sheets is seen as a crucial step in allowing banks to make new loans, it will also help bank shares, which are still down 30 percent year to date.
An unexpected rise in housing sales, seen as a key factor in spurring an economic recovery, also boosted sentiment. Data showed the pace of sales of existing homes in the United States rose 5.1 percent in February, the biggest increase since July 2003.
The housing data helped the Dow Jones index of home builders (DJI:^DJUSHB - News) rally nearly 15 percent, with shares of Lennar (NYSE:LEN - News) and Ryland Group (NYSE:RYL - News) up 20.4 percent and 17.6 percent respectively.
Even with the run-up, some analysts said the market had been due for a bounce given the damage incurred when stocks slid to 12-year lows earlier this month.
The benchmark S&P 500 index is up more than 20 percent from the bear market closing low set on March 9. The index on Monday closed above 800 for the first time since February 13.
The government's bank plan involves generous government financing to woo big investors to buy up toxic assets.
The Treasury Department will kick off the financing for its Public-Private Investment Program with $75 billion-$100 billion that will come from the $700 billion financial bailout fund approved by Congress last fall.
Oil shares on Monday were buoyed by a large merger deal in the energy sector and rising oil prices. Exxon Mobil (NYSE:XOM - News) jumped 6.7 percent at $70.53 and Chevron (NYSE:CVX - News) gained 6.9 percent to $69.15.
Canada's No. 2 oil company, Suncor Energy (Toronto:SU.TO - News), agreed to buy rival Petro-Canada (Toronto:PCA.TO - News) for about $14.9 billion to create Canada's largest oil company. Meanwhile, U.S. crude futures rose 3.3 percent or $1.73 to $53.80 a barrel.
On the earnings front, upscale jeweler Tiffany & Co (NYSE:TIF - News) jumped about 15.5 percent to $23.37 after reporting quarterly profit that beat expectations.
The S&P Retail index (Chicago Options:^RLX - News) rose nearly 6.42 percent.
And shares of Walgreen Co (NYSE:WAG - News) rose 9.4 percent to $26.58 after the drugstore chain posted better-than-expected profit.
Trading was active on the New York Stock Exchange, with about 1.91 billion shares changing hands, above last year's estimated daily average of 1.49 billion, while on Nasdaq, about 2.24 billion shares traded, below last year's daily average of 2.28 billion.
Advancing stocks outnumbered declining ones on the NYSE by 2863 to 259 while advancers beat decliners on the Nasdaq by about 2262 to 429.
Source
Friday, March 20, 2009
阿里巴巴国内市场收入猛增
国内最大的B2B网站阿里巴巴昨日公布2008年度全年业绩，公司在国内市场的营收较去年增长78％，大大超过其国际市场发展速度。财报显示，2008年阿里巴巴的中国交易市场的营业收入为人民币10.94亿元，较2007年增长78％，主要是由于“中国诚信通”付费会员及增值服务销售额增加。
截至到2008年底，阿里巴巴的中国交易市场拥有37万名“中国诚信通”会员。而同期的国际交易市场营收业绩就相形见绌，2008年度阿里巴巴国际交易市场营收19.07亿元，较2007年增长23％，其中包括了阿里软件的小部分贡献。由此在2008年，阿里巴巴的中国交易市场占总收入的比重由2007年的28％迅速上升至36％。
阿里巴巴公司管理层判断，中国的出口负增长在接下来的几个月仍会持续；国内市场面对全球经济下滑也难以独善其身，4万亿刺激经济方案及其他财政刺激方案很多都是通过基础设施建设投资，对公司的目标客户即中小企业产生的影响可能不是立竿见影的。不过，阿里巴巴表示希望通过发展注册用户、增值业务销售以及成本控制来应对。
Source
截至到2008年底，阿里巴巴的中国交易市场拥有37万名“中国诚信通”会员。而同期的国际交易市场营收业绩就相形见绌，2008年度阿里巴巴国际交易市场营收19.07亿元，较2007年增长23％，其中包括了阿里软件的小部分贡献。由此在2008年，阿里巴巴的中国交易市场占总收入的比重由2007年的28％迅速上升至36％。
阿里巴巴公司管理层判断，中国的出口负增长在接下来的几个月仍会持续；国内市场面对全球经济下滑也难以独善其身，4万亿刺激经济方案及其他财政刺激方案很多都是通过基础设施建设投资，对公司的目标客户即中小企业产生的影响可能不是立竿见影的。不过，阿里巴巴表示希望通过发展注册用户、增值业务销售以及成本控制来应对。
Source
Thursday, March 19, 2009
宏威科技Anwell Technologies 目标价：18分
它去年第四季度的营收下跌28.3%，亏损也因客户需求减少及厂房使用率偏低，加上较高的融资成本和行政支出，而扩大到8940万港元（1770新元）。它如今要扭转业务，唯一的方法是依靠其太阳能业务，毕竟它已经投资太多资源在这方面。
考虑到它进军太阳能业务所付出的巨额支出，德意志摩根建富证券研究认为它当前的有机发光二极管（OLED）以及光学媒体业务不足以使它走出困境。
它已经从中国政府获得2亿元人民币（4494万新元）的补助金，以支持它进军有机发光二极管和太阳能业务，而且它将会获得另外1亿元人民币（2247万新元）。这些特殊项目将能使它的净收入好转。要是剔除这些特殊项目，它预料接下来两年还会蒙受亏损。
考虑到它的低估值但恶化中的基本面，德意志摩根建富证券首次给予它“中性”评级，并把它的目标价从原本的16分提高到18分，相等于同行平均的30%股价对账面值比率的一半。
宏威科技昨日没有任何交易，本周一是最后有成交的日子，当日收报21分。
德意志摩根建富证券研究
DMG & Partners Securities
考虑到它进军太阳能业务所付出的巨额支出，德意志摩根建富证券研究认为它当前的有机发光二极管（OLED）以及光学媒体业务不足以使它走出困境。
它已经从中国政府获得2亿元人民币（4494万新元）的补助金，以支持它进军有机发光二极管和太阳能业务，而且它将会获得另外1亿元人民币（2247万新元）。这些特殊项目将能使它的净收入好转。要是剔除这些特殊项目，它预料接下来两年还会蒙受亏损。
考虑到它的低估值但恶化中的基本面，德意志摩根建富证券首次给予它“中性”评级，并把它的目标价从原本的16分提高到18分，相等于同行平均的30%股价对账面值比率的一半。
宏威科技昨日没有任何交易，本周一是最后有成交的日子，当日收报21分。
德意志摩根建富证券研究
DMG & Partners Securities
Wednesday, March 18, 2009
Dell Inks Deal With Resorts World at Sentosa
Dell Singapore today announces that it will be the main provider of enterprise server solutions for Resorts World at Sentosa, slated to be Asia’s leading family destination. The deal includes supplying and installing Dell’s range of PowerEdge servers in various capacities across Resorts World at Sentosa’s operations.
“Resorts World at Sentosa is set to be a global attraction for Singapore and we are very excited and proud that our solutions will be powering their operations,” said Tan Teng Cheong, General Manager – Dell Singapore. “Given that Dell is continuously simplifying IT for our customers, we want to help Resorts World at Sentosa focus on innovation while keeping their peace of mind on the IT infrastructure.”
Resorts World at Sentosa is a collection of resorts and attractions with a plethora of fun-filled offerings for the entire family. Spanning 49 hectares, the mega-resort houses Southeast Asia’s first and only Universal Studios theme park, the world’s largest oceanarium and the region’s first integrated destination spa. It also boasts some 1,800 rooms, spread across its six hotels of varying themes, with full conference and meeting amenities. It is expected to start operations in early 2010.
“As we continue to build a solid foundation for our IT infrastructure, it is important for us to have reliable systems in place and I believe that Dell has the right solution to meet our needs,” said Mr Yap Chee Yuen, Senior Vice President, Information Technology, Resorts World at Sentosa. “As we get ready to start operations in early 2010, I’m confident that the Dell team will deliver with speed and finesse.”
The first batch of server solution is already in place at Resorts World at Sentosa and the project is expected to take three years to complete.
Source
“Resorts World at Sentosa is set to be a global attraction for Singapore and we are very excited and proud that our solutions will be powering their operations,” said Tan Teng Cheong, General Manager – Dell Singapore. “Given that Dell is continuously simplifying IT for our customers, we want to help Resorts World at Sentosa focus on innovation while keeping their peace of mind on the IT infrastructure.”
Resorts World at Sentosa is a collection of resorts and attractions with a plethora of fun-filled offerings for the entire family. Spanning 49 hectares, the mega-resort houses Southeast Asia’s first and only Universal Studios theme park, the world’s largest oceanarium and the region’s first integrated destination spa. It also boasts some 1,800 rooms, spread across its six hotels of varying themes, with full conference and meeting amenities. It is expected to start operations in early 2010.
“As we continue to build a solid foundation for our IT infrastructure, it is important for us to have reliable systems in place and I believe that Dell has the right solution to meet our needs,” said Mr Yap Chee Yuen, Senior Vice President, Information Technology, Resorts World at Sentosa. “As we get ready to start operations in early 2010, I’m confident that the Dell team will deliver with speed and finesse.”
The first batch of server solution is already in place at Resorts World at Sentosa and the project is expected to take three years to complete.
Source
Friday, March 13, 2009
Thursday, March 12, 2009
Singapore's first casino complex takes shape
The tiny city state of Singapore at the tip of the Malay Peninsula currently boasts what is probably Asia's largest construction site. Despite the global economic downturn, workers toil here around the clock, seven days a week, to build Singapore's first casino complex.
The Marina Bay Sands is scheduled to open in December and apart from the casino proper it will comprise a convention and exhibition centre, some 300 shops and luxury boutiques, a museum and three hotel towers, each of them 200 metres high, with a combined 2,600 beds.
"We are of course fully aware of the current economic crisis, but this is simply a unique project," said Bradley Stone, who not only oversees the Singapore property but is also responsible for other projects around the world for the US-based casino operator Las Vegas Sands Corp.
"Singapore is already well known as a (tourist) destination and has a world class infrastructure, thus we are very bullish that there is lots of interest (in the casino)," Stone added.
The financial crunch had almost bankrupted Las Vegas Sands at one point, but overhead slashing, debt consolidation and selling off some properties saved the day for the firm.
While the company froze some projects in Macau, the Singapore project will go ahead as planned, costing an estimated $5.5 billion.
The complex is being erected on a piece of reclaimed land on the shoreline of Singapore.
The hotel towers with 59 storeys are about half erected, and the view from the 21st floor of the construction is already magnificent, with Singapore's skyline in the north and across the ocean in the south.
"Some 7,500 workers are employed on the construction site every day," explained Austrian national Rudy Betschoga, senior construction manager for Marina Bay Sands.
Although the foundations were only laid in 2007, the four-storey casino building as well as the convention centre, which incorporates a rooftop ballroom that can accommodate 6,600 guests, will soon receive their roofs.
The three hotel towers will be linked by a massive glassed-in atrium. "It is so high that it could easily hold the Statue of Liberty," explained Betschoga.
But the masterpiece of architect Moshe Safdie is without doubt the open-air sky park that will straddle the roofs of the hotel towers.
It will harbour some 600 palm and other trees and a 146-metre-long swimming pool. On the western side, the platform will protrude a full 65 metres over thin air, theoretically enough to park an A380 Airbus.
For the small city state of Singapore the project has created public enthusiasm because of the 30,000 new jobs it will create.
The 40-year ban on casino gambling was lifted in 2005, and Marina Bay Sands will become the first of two planned casinos.
The government is to charge high entry fees in an attempt to keep locals away, but guests from the Middle East, Russia and the rest of gambling-crazy Asia will be welcomed with open arms.
"When the going gets tough we all go gambling, it's the Chinese way," said an ethnic-Chinese newspaper reporter, who has no doubts about the success of the casino.
Sands Corp's Bradley Stone admitted that he also gambles occasionally.
"After all, I have to know what kind of thrills our future customers are going to seek," he said.
Source
The Marina Bay Sands is scheduled to open in December and apart from the casino proper it will comprise a convention and exhibition centre, some 300 shops and luxury boutiques, a museum and three hotel towers, each of them 200 metres high, with a combined 2,600 beds.
"We are of course fully aware of the current economic crisis, but this is simply a unique project," said Bradley Stone, who not only oversees the Singapore property but is also responsible for other projects around the world for the US-based casino operator Las Vegas Sands Corp.
"Singapore is already well known as a (tourist) destination and has a world class infrastructure, thus we are very bullish that there is lots of interest (in the casino)," Stone added.
The financial crunch had almost bankrupted Las Vegas Sands at one point, but overhead slashing, debt consolidation and selling off some properties saved the day for the firm.
While the company froze some projects in Macau, the Singapore project will go ahead as planned, costing an estimated $5.5 billion.
The complex is being erected on a piece of reclaimed land on the shoreline of Singapore.
The hotel towers with 59 storeys are about half erected, and the view from the 21st floor of the construction is already magnificent, with Singapore's skyline in the north and across the ocean in the south.
"Some 7,500 workers are employed on the construction site every day," explained Austrian national Rudy Betschoga, senior construction manager for Marina Bay Sands.
Although the foundations were only laid in 2007, the four-storey casino building as well as the convention centre, which incorporates a rooftop ballroom that can accommodate 6,600 guests, will soon receive their roofs.
The three hotel towers will be linked by a massive glassed-in atrium. "It is so high that it could easily hold the Statue of Liberty," explained Betschoga.
But the masterpiece of architect Moshe Safdie is without doubt the open-air sky park that will straddle the roofs of the hotel towers.
It will harbour some 600 palm and other trees and a 146-metre-long swimming pool. On the western side, the platform will protrude a full 65 metres over thin air, theoretically enough to park an A380 Airbus.
For the small city state of Singapore the project has created public enthusiasm because of the 30,000 new jobs it will create.
The 40-year ban on casino gambling was lifted in 2005, and Marina Bay Sands will become the first of two planned casinos.
The government is to charge high entry fees in an attempt to keep locals away, but guests from the Middle East, Russia and the rest of gambling-crazy Asia will be welcomed with open arms.
"When the going gets tough we all go gambling, it's the Chinese way," said an ethnic-Chinese newspaper reporter, who has no doubts about the success of the casino.
Sands Corp's Bradley Stone admitted that he also gambles occasionally.
"After all, I have to know what kind of thrills our future customers are going to seek," he said.
Source
Campaigners Try To Stop Whale Sharks Being Used In Casino Aquarium
Welfare groups started an online campaign to stop a Singapore casino developer importing whale sharks for an elaborate aquarium.A facebook group called ‘Say NO to Whale Sharks in Captivity’ has been set up and is calling for people to sign an online petition to stop the casino putting whale sharks into captivity.
Resorts World at Sentosa is building a $14bn (£10bn) super-casino, which will house the worlds largest marine park.The oceanarium will hold over 700,000 fish in 20 million gallons (76 million litres) of water, Resorts World at Sentosa said on its website.
But seven animal welfare groups, including the Sea Shepherd Conservation Society and People for the Ethical Treatment of Animals, believe the facility is not suitable for animals of this size."
No man-made environment, no matter how large, could accommodate the needs of a whale shark," they said in a statement."Whale sharks can dive up to 980 metres (3,234 feet) and migrate over 13,000 kilometres (8,060 miles) and evidence has shown that they fare poorly in captivity."Resorts World at Sentosa has said its casino project is scheduled to open in early 2010.
Source
Resorts World at Sentosa is building a $14bn (£10bn) super-casino, which will house the worlds largest marine park.The oceanarium will hold over 700,000 fish in 20 million gallons (76 million litres) of water, Resorts World at Sentosa said on its website.
But seven animal welfare groups, including the Sea Shepherd Conservation Society and People for the Ethical Treatment of Animals, believe the facility is not suitable for animals of this size."
No man-made environment, no matter how large, could accommodate the needs of a whale shark," they said in a statement."Whale sharks can dive up to 980 metres (3,234 feet) and migrate over 13,000 kilometres (8,060 miles) and evidence has shown that they fare poorly in captivity."Resorts World at Sentosa has said its casino project is scheduled to open in early 2010.
Source
$190-million IR to be built in Batam
FIRST, there was one for Bintan. Now, a second integrated resort will be built in the Riau islands close to Singapore — this one on Batam.
The Jakarta Post has reported that a 15-hectare integrated tourism and business resort that is worth 1.5 trillion rupiah($193 million) will be completed in 2011, with construction set to begin next month.
According to the company behind the project, PT Grand Uway Development, the tourism development will have an international water park, a condominium hotel and a convention centre with capacity for 6,000 people.
The resort is considerably smaller than the 49-hectare Resorts World at Sentosa being built by Genting International, which will also have a water park with rides, but appears to be pitched for the Meetings,Incentive, Convention and Exhibition (Mice) trade that the Marina Bay Sands in Singapore is targeting.
According to the Jakarta Post, Indonesia’s Culture and Tourism Ministry has designated Batam as the Mice city.
In comparison, the Sands is situated on a 20.6-hectare site with a convention area that can host 45,000 people.
Talk of competition for Singapore’s IRs from Bintan and Batam began after the authorities here awarded two licences in 2005. Malaysian developer Landmarks, whose biggest shareholder is Genting, is already building Bintan Treasure Bay, a huge 343-hectare IR.
But while the Bintan IR is still seeking approval for a casino element, there was no mention of gambling at the latest one in Batam, which will be located in the Batam Center area and will be run by international property management Aston International, the Jakarta Post reported.
Source
The Jakarta Post has reported that a 15-hectare integrated tourism and business resort that is worth 1.5 trillion rupiah($193 million) will be completed in 2011, with construction set to begin next month.
According to the company behind the project, PT Grand Uway Development, the tourism development will have an international water park, a condominium hotel and a convention centre with capacity for 6,000 people.
The resort is considerably smaller than the 49-hectare Resorts World at Sentosa being built by Genting International, which will also have a water park with rides, but appears to be pitched for the Meetings,Incentive, Convention and Exhibition (Mice) trade that the Marina Bay Sands in Singapore is targeting.
According to the Jakarta Post, Indonesia’s Culture and Tourism Ministry has designated Batam as the Mice city.
In comparison, the Sands is situated on a 20.6-hectare site with a convention area that can host 45,000 people.
Talk of competition for Singapore’s IRs from Bintan and Batam began after the authorities here awarded two licences in 2005. Malaysian developer Landmarks, whose biggest shareholder is Genting, is already building Bintan Treasure Bay, a huge 343-hectare IR.
But while the Bintan IR is still seeking approval for a casino element, there was no mention of gambling at the latest one in Batam, which will be located in the Batam Center area and will be run by international property management Aston International, the Jakarta Post reported.
Source
Thursday, March 5, 2009
疯狂扩张耗尽现金 博彩巨头金沙市值跌去96%
开赌场就好比印银纸（钞票），哪有可能会穷。”被誉为澳门赌王的何鸿燊，2月8日向媒体如此回应《福布斯》杂志指其身家因金融海啸缩水九成的判断。
一度与何鸿燊隔空对骂的谢尔登·阿德尔森（SheldonAdelson），未必能欣赏前者的幽默。
阿德尔森一手创办的美国博彩业旗舰——拉斯维加斯金沙集团（NYSE：LVS，下文简称“金沙集团”），在寰球博彩业的景气高峰时，分别于中国澳门、新加坡与美国本土启动了耗资巨大的项目投资。但当银行于2008年9月后停止拆借，金沙集团宏伟的三地扩张计划顿时陷入融资困境，一路下滑的股价更令其信贷违约率大幅飙升。
豪赌狮城金沙集团只能收缩战线
1月28日，澳门金光大道，除了熙熙攘攘、前往澳门威尼斯人与落成不久的澳门四季酒店的游客外，伫立在威尼斯人这幢亚洲第二大单体建筑物对面的金光大道第五、第六期工程，也让人无法忽视。
这个庞大的建筑工程，是为容纳喜来登、香格里拉等四家五星级酒店而兴建的，外观看来已经封顶。但自去年11月，随着近一万名建筑工人被解雇，这个半成品便没有任何变化，只留下灰色的水泥钢筋外表。
金沙集团的负责人对记者表示，停工是“暂时”安排，但没有给出复工时间表。在2008年11月澳门项目停工后，金沙集团亚洲总裁StephenWeaver表示，若要继续发展澳门威尼斯人第五、第六期工程，需另外再融资15亿－20亿美元，但额外的资金何时到位难以估计。他强调，集团目前虽已完成21.4亿美元融资，但有关资金仅用于继续支持新加坡项目。新加坡滨海湾金沙于2006年4月宣布奠基时，计划耗资36亿美元。
现金耗尽流动性危机显现
金沙集团一手酝酿的危机，与违反巴菲特所谓“恐惧与贪婪”原则的房地产商并无二致。即在经济景气高峰时，在“贪婪”的驱动下，大肆跑马圈地，同时发展数个大规模项目，但当市况逆转，却缺乏足够的“恐惧”，无法全身而退。
美国经济衰退对拉斯维加斯的酒店、博彩业的打击，金沙的股价也上演高台跳水，从2008年9月30日的36美元，下滑至10月28日的4.95美元。与2007年的股价峰值相比，金沙集团跌去了96%的市值。
标普与穆迪均迅速表示，金沙集团在澳门的现金已经耗尽，而在资产缩水的情况下，金沙的违约风险大大提升。
取舍逻辑为何牺牲澳门金光大道
新加坡则拥有更值得下注的基本面。“澳门只有54万人口，但新加坡有460万人口，而且54%的新加坡人承认在过去12个月曾经进行赌博，在2007年有100万新加坡人前往马来西亚云顶赌场，新加坡赛马俱乐部拥有超过7000名VIP会员，他们在每个赛马日的人均下注额高达6.5万美元。”此外，澳门的赌牌数目为6个，而新加坡只有两个，澳门的赌场多达31个，新加坡只有两个。
降低债务金沙策略是资产变现
金沙集团的总裁兼COOWilliamWeidner，在2月11日的分析师会议上介绍，集团拟定以保存和创造流动性为出发点的三大战略。“策略之一，现金流最大化策略，从拉斯维加斯与澳门的业务获得现金流；之二，在进度内完成新加坡与宾州项目，确保不超支；之三，出售非核心资产。”
他承认，公司正快速推进澳门威尼斯人以及澳门四季的商铺物业、澳门四季酒店公寓的销售。“我们明白现时的市况不是销售物业的好时机，但回笼现金是我们的重要策略。资产出售有助于降低澳门的债务，令公司降低杠杆。”
Source
一度与何鸿燊隔空对骂的谢尔登·阿德尔森（SheldonAdelson），未必能欣赏前者的幽默。
阿德尔森一手创办的美国博彩业旗舰——拉斯维加斯金沙集团（NYSE：LVS，下文简称“金沙集团”），在寰球博彩业的景气高峰时，分别于中国澳门、新加坡与美国本土启动了耗资巨大的项目投资。但当银行于2008年9月后停止拆借，金沙集团宏伟的三地扩张计划顿时陷入融资困境，一路下滑的股价更令其信贷违约率大幅飙升。
豪赌狮城金沙集团只能收缩战线
1月28日，澳门金光大道，除了熙熙攘攘、前往澳门威尼斯人与落成不久的澳门四季酒店的游客外，伫立在威尼斯人这幢亚洲第二大单体建筑物对面的金光大道第五、第六期工程，也让人无法忽视。
这个庞大的建筑工程，是为容纳喜来登、香格里拉等四家五星级酒店而兴建的，外观看来已经封顶。但自去年11月，随着近一万名建筑工人被解雇，这个半成品便没有任何变化，只留下灰色的水泥钢筋外表。
金沙集团的负责人对记者表示，停工是“暂时”安排，但没有给出复工时间表。在2008年11月澳门项目停工后，金沙集团亚洲总裁StephenWeaver表示，若要继续发展澳门威尼斯人第五、第六期工程，需另外再融资15亿－20亿美元，但额外的资金何时到位难以估计。他强调，集团目前虽已完成21.4亿美元融资，但有关资金仅用于继续支持新加坡项目。新加坡滨海湾金沙于2006年4月宣布奠基时，计划耗资36亿美元。
现金耗尽流动性危机显现
金沙集团一手酝酿的危机，与违反巴菲特所谓“恐惧与贪婪”原则的房地产商并无二致。即在经济景气高峰时，在“贪婪”的驱动下，大肆跑马圈地，同时发展数个大规模项目，但当市况逆转，却缺乏足够的“恐惧”，无法全身而退。
美国经济衰退对拉斯维加斯的酒店、博彩业的打击，金沙的股价也上演高台跳水，从2008年9月30日的36美元，下滑至10月28日的4.95美元。与2007年的股价峰值相比，金沙集团跌去了96%的市值。
标普与穆迪均迅速表示，金沙集团在澳门的现金已经耗尽，而在资产缩水的情况下，金沙的违约风险大大提升。
取舍逻辑为何牺牲澳门金光大道
新加坡则拥有更值得下注的基本面。“澳门只有54万人口，但新加坡有460万人口，而且54%的新加坡人承认在过去12个月曾经进行赌博，在2007年有100万新加坡人前往马来西亚云顶赌场，新加坡赛马俱乐部拥有超过7000名VIP会员，他们在每个赛马日的人均下注额高达6.5万美元。”此外，澳门的赌牌数目为6个，而新加坡只有两个，澳门的赌场多达31个，新加坡只有两个。
降低债务金沙策略是资产变现
金沙集团的总裁兼COOWilliamWeidner，在2月11日的分析师会议上介绍，集团拟定以保存和创造流动性为出发点的三大战略。“策略之一，现金流最大化策略，从拉斯维加斯与澳门的业务获得现金流；之二，在进度内完成新加坡与宾州项目，确保不超支；之三，出售非核心资产。”
他承认，公司正快速推进澳门威尼斯人以及澳门四季的商铺物业、澳门四季酒店公寓的销售。“我们明白现时的市况不是销售物业的好时机，但回笼现金是我们的重要策略。资产出售有助于降低澳门的债务，令公司降低杠杆。”
Source
Wednesday, March 4, 2009
Sands Singapore resort on track for December open
Sands Singapore resort on track for December open
Las Vegas Sands Corp., which suspended construction last year at two sites in Macau, said Wednesday it's on schedule to open a $5.4 billion Singapore casino resort in December.
The casino operator said most of the 2,500-room Marina Bay Sands will be ready by the end of the year. It will be Singapore's first casino.
In addition to gambling facilities, the resort will feature an art and science museum, 300 retail stores, and three 55-story hotel towers connected at the top with a pool, restaurant and observation deck.
Last Vegas Sands is counting on the Marina Bay Sands to help boost its overall revenue and avoid a debt default. Sands, which owns the Palazzo and Venetian resorts in Las Vegas, had to shut down building in Macau after financing dried up.
"What happened in Macau certainly won't happen here in Singapore," said Bradley Stone, the company's president of global operations and construction. "This project is fully-funded."
The resort is part of Singapore's effort to develop a marina area next to downtown into an entertainment and tourist attraction. But the city-state expects tourism revenue to plunge as much as 19 percent this year as a global economic slowdown undermines spending on travel.
"We know the economic situation," said Nigel Roberts, president of Marina Bay Sands. "But we have a product that's going to be stupendous and will override that."
Source
Las Vegas Sands Corp., which suspended construction last year at two sites in Macau, said Wednesday it's on schedule to open a $5.4 billion Singapore casino resort in December.
The casino operator said most of the 2,500-room Marina Bay Sands will be ready by the end of the year. It will be Singapore's first casino.
In addition to gambling facilities, the resort will feature an art and science museum, 300 retail stores, and three 55-story hotel towers connected at the top with a pool, restaurant and observation deck.
Last Vegas Sands is counting on the Marina Bay Sands to help boost its overall revenue and avoid a debt default. Sands, which owns the Palazzo and Venetian resorts in Las Vegas, had to shut down building in Macau after financing dried up.
"What happened in Macau certainly won't happen here in Singapore," said Bradley Stone, the company's president of global operations and construction. "This project is fully-funded."
The resort is part of Singapore's effort to develop a marina area next to downtown into an entertainment and tourist attraction. But the city-state expects tourism revenue to plunge as much as 19 percent this year as a global economic slowdown undermines spending on travel.
"We know the economic situation," said Nigel Roberts, president of Marina Bay Sands. "But we have a product that's going to be stupendous and will override that."
Source
LV Sands says to open S'pore casino-resort in phases
SINGAPORE, Mar 4 (Reuters) - Las Vegas Sands said on Wednesday it will open its Singapore casino-resort in phases starting end-2009.
The company had earlier said the entire project would be up-and-running by that time.
"We are working closely with the government and will provide an update soon," said a spokeswoman for Marina Bay Sands, which is the name of the U.S. operator's $5.4 billion casino-cum-hotel resort that is under construction in Singapore.
George Tanasijevich, general manager of the Marina Bay Sands and executive in charge of the Singapore development, had earlier told reporters during a site tour that the project will be 50 percent completed by year-end.
Singapore legalised casino gaming in 2005 as part of an ambitious plan to make the city more exciting and double annual visitor arrivals to 17 million by 2015. The Marina Bay Sands, located at the edge of the central business district, will be the first of the city-state's two casinos.
The phased opening of the $5.4 billion casino-resort will, however, ease pressure on hoteliers in Singapore, where visitor arrivals fell 12.9 percent in January from a year ago due to the global economic downturn.
The average hotel room rate in Singapore fell 11.7 percent to S$209 ($135) in January, while hotel occupancy plunged to 67 percent from 85 percent a year earlier, the Singapore Tourism Board said last week.
Singapore currently has around 32,000 hotel rooms and the upcoming Marina Bay Sands and Resorts World at Sentosa will add over 4,000 rooms to the total supply next year.
Marina Bay Sands officials said on Wednesday that all 2,600 hotel rooms will be open by next year, while Resorts World has said that four of its six hotels will be ready by the first quarter of 2010.
Resorts World, located on the resort-island of Sentosa, is being developed by Genting International , a unit of Malaysian casino operator Genting Bhd . When ready, the development will have around 1,800 rooms. ($1=1.551 Singapore Dollar)
The company had earlier said the entire project would be up-and-running by that time.
"We are working closely with the government and will provide an update soon," said a spokeswoman for Marina Bay Sands, which is the name of the U.S. operator's $5.4 billion casino-cum-hotel resort that is under construction in Singapore.
George Tanasijevich, general manager of the Marina Bay Sands and executive in charge of the Singapore development, had earlier told reporters during a site tour that the project will be 50 percent completed by year-end.
Singapore legalised casino gaming in 2005 as part of an ambitious plan to make the city more exciting and double annual visitor arrivals to 17 million by 2015. The Marina Bay Sands, located at the edge of the central business district, will be the first of the city-state's two casinos.
The phased opening of the $5.4 billion casino-resort will, however, ease pressure on hoteliers in Singapore, where visitor arrivals fell 12.9 percent in January from a year ago due to the global economic downturn.
The average hotel room rate in Singapore fell 11.7 percent to S$209 ($135) in January, while hotel occupancy plunged to 67 percent from 85 percent a year earlier, the Singapore Tourism Board said last week.
Singapore currently has around 32,000 hotel rooms and the upcoming Marina Bay Sands and Resorts World at Sentosa will add over 4,000 rooms to the total supply next year.
Marina Bay Sands officials said on Wednesday that all 2,600 hotel rooms will be open by next year, while Resorts World has said that four of its six hotels will be ready by the first quarter of 2010.
Resorts World, located on the resort-island of Sentosa, is being developed by Genting International , a unit of Malaysian casino operator Genting Bhd . When ready, the development will have around 1,800 rooms. ($1=1.551 Singapore Dollar)
Tuesday, March 3, 2009
Cable cars may replace free buses on Sentosa
ZIPPING around Sentosa Island will be made easier from 2011 with the launch of a new cable car service.
The new transport link may replace the present free intra-island bus service.
The above-ground system is part of Sentosa Leisure Group's (SLG) over $250 million plan to overhaul the transport system on the island to ensure that it can handle the crowds when Resorts World at Sentosa opens next year.
Currently, Sentosa receives up to 30,000 visitors daily during the peak season. But that number is expected to rise to over 100,000 people daily with the opening of Singapore's second integrated resort.
Mr Lee Chin Chuan, director of SLG's property business development, said the cable car system will offer a greener way of travel compared to the current diesel-powered bus fleet.
The new cableway system will be at most six to seven storeys tall, a third of the height of the current cable car system which runs from Mount Faber.
It is expected to take anything from 1,400 to 5,000 passengers per hour in one direction, moving at speeds of 4m to 6m a second. It will also offer express waiting times of 12 seconds to 15 seconds instead of two minutes to three minutes for the monorail and 10 minutes to 15 minutes for the bus.
Currently, four stations have been earmarked. Mr Lee did not discount the possibility of rolling out the system to the rest of the island or even to the mainland.
The cost of the project is not known yet. SLG has hired consultants to help determine the system's capacity and cost.
One other unknown: whether visitors will be charged for rides. SLG is still mulling over this.
The group is also exploring other possibilities like electric trams, mini railways and buggies.
Plans to boost links to the island include an $80 million, 710m-long second bridge, being built by the casino-resort and expected to be ready by the third quarter of this year.
SLG has invested $25 million to build a new depot extension and to buy two cars to raise the capacity of the monorail from 3,000 to 4,000 passengers per hour.
It is also building a new boardwalk so pedestrians can walk to the resort island. Construction of the walkway is slated to begin in the second half of this year. It will have travellators like those in the airport to ease the 620m walk.
Teacher Chai Jiamin, 27, welcomed the new moves. She used to play beach volleyball at Sentosa regularly, but said that on weekends, traffic congestion can get really bad.
However, other regulars like 26-year-old Benjamin Lau, who runs his own IT business, said replacing the free buses with a paid cable car will not benefit visitors.
He said: 'I don't think it's practical to invest in a cable car system when there are already free bus and trams serving Sentosa.'
SLG's Mr Lee added that another key reason that is driving Sentosa's search for new modes of transport is to minimise the system's emissions and carbon footprint.
Source
The new transport link may replace the present free intra-island bus service.
The above-ground system is part of Sentosa Leisure Group's (SLG) over $250 million plan to overhaul the transport system on the island to ensure that it can handle the crowds when Resorts World at Sentosa opens next year.
Currently, Sentosa receives up to 30,000 visitors daily during the peak season. But that number is expected to rise to over 100,000 people daily with the opening of Singapore's second integrated resort.
Mr Lee Chin Chuan, director of SLG's property business development, said the cable car system will offer a greener way of travel compared to the current diesel-powered bus fleet.
The new cableway system will be at most six to seven storeys tall, a third of the height of the current cable car system which runs from Mount Faber.
It is expected to take anything from 1,400 to 5,000 passengers per hour in one direction, moving at speeds of 4m to 6m a second. It will also offer express waiting times of 12 seconds to 15 seconds instead of two minutes to three minutes for the monorail and 10 minutes to 15 minutes for the bus.
Currently, four stations have been earmarked. Mr Lee did not discount the possibility of rolling out the system to the rest of the island or even to the mainland.
The cost of the project is not known yet. SLG has hired consultants to help determine the system's capacity and cost.
One other unknown: whether visitors will be charged for rides. SLG is still mulling over this.
The group is also exploring other possibilities like electric trams, mini railways and buggies.
Plans to boost links to the island include an $80 million, 710m-long second bridge, being built by the casino-resort and expected to be ready by the third quarter of this year.
SLG has invested $25 million to build a new depot extension and to buy two cars to raise the capacity of the monorail from 3,000 to 4,000 passengers per hour.
It is also building a new boardwalk so pedestrians can walk to the resort island. Construction of the walkway is slated to begin in the second half of this year. It will have travellators like those in the airport to ease the 620m walk.
Teacher Chai Jiamin, 27, welcomed the new moves. She used to play beach volleyball at Sentosa regularly, but said that on weekends, traffic congestion can get really bad.
However, other regulars like 26-year-old Benjamin Lau, who runs his own IT business, said replacing the free buses with a paid cable car will not benefit visitors.
He said: 'I don't think it's practical to invest in a cable car system when there are already free bus and trams serving Sentosa.'
SLG's Mr Lee added that another key reason that is driving Sentosa's search for new modes of transport is to minimise the system's emissions and carbon footprint.
Source
IRs to recruit casino staff Thur
SINGAPOREANS wishing to try their hand at dealing cards at a casino can apply for jobs this week at the two upcoming integrated resorts.
Resorts World at Sentosa (RWS) and Marina Bay Sands will both kick off their first recruitment drive for gaming staff, together with other non-gaming positions, at the Career 2009 & Education 2009 fair starting Thursday.
The gaming positions available include dealers, pit supervisors and surveillance operators.
Ms Seah-Khoo Ee Boon, RWS' senior vice-president for human resources and training said hiring for some positions like the casino and Universal Studios theme park has to start earlier as more training may be required.
She added that up to six months will be set aside to prepare staff for the work at the resorts expected to attract thousands of punters when their doors open.
One fifth of the 800 jobs on offer by RWS will be for the casino with the rest for other areas including technical services, IT, human resource and resort services.
Marina Bay Sands' president Nigel Roberts said it has 'thousands of jobs' on offer but did not specify the total number or proportion of jobs available.
Both IRs said they are looking for people with an 'innate passion and motivation to serve'.
For those who wish to try for a casino job, Marina Bay Sands said it does not require new hires to go through formal casino training as in-house training will be provided.
Source
Resorts World at Sentosa (RWS) and Marina Bay Sands will both kick off their first recruitment drive for gaming staff, together with other non-gaming positions, at the Career 2009 & Education 2009 fair starting Thursday.
The gaming positions available include dealers, pit supervisors and surveillance operators.
Ms Seah-Khoo Ee Boon, RWS' senior vice-president for human resources and training said hiring for some positions like the casino and Universal Studios theme park has to start earlier as more training may be required.
She added that up to six months will be set aside to prepare staff for the work at the resorts expected to attract thousands of punters when their doors open.
One fifth of the 800 jobs on offer by RWS will be for the casino with the rest for other areas including technical services, IT, human resource and resort services.
Marina Bay Sands' president Nigel Roberts said it has 'thousands of jobs' on offer but did not specify the total number or proportion of jobs available.
Both IRs said they are looking for people with an 'innate passion and motivation to serve'.
For those who wish to try for a casino job, Marina Bay Sands said it does not require new hires to go through formal casino training as in-house training will be provided.
Source
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