* Malaysia jumps 2.8 percent to highest close in two weeks
* Financials and blue chips rebound from lows this week
By Yvonne Cheong
SINGAPORE, Aug 29 (Reuters) - Singapore and Malaysia stock markets rebounded on Friday to their highest close this week, as investors picked up financials and other blue chips, but analysts said they expect volatility ahead as growth concerns and politics weigh.
Malaysia's benchmark index <.KLSE> rose 2.8 percent to its highest close since August 15 after its Prime Minister unveiled a budget that boosted shares of casino operator Genting , which jumped 10.4 percent.
"It was the end of the month. You had a budget with no gambling tax rises. Genting alone contributed four points to the index today," said a Malaysia-based trader.
Other Asian markets climbed after a big upward revision to second-quarter U.S. economic growth boosted the outlook for demand, but shares posted their fourth consecutive monthly decline.
Singapore stocks <.FTSTI> rose 1.8 percent, while Indonesia <.JKSE> added 1 percent. The Philippine index <.PSI> was 1.2 percent higher and Thailand <.SETI> edged up 0.2 percent. Vietnam's market <.VNI> shed 0.2 percent on the day but gained more than 20 percent in August. Singapore fared worst during August, falling 5.7 percent.
Bourse operator Singapore Exchange jumped 4.1 percent to its highest in over a week after Macquarie Research upgraded the stock. [nSIN59062]
Top lender DBS Bank also surged 3.1 percent, while rival United Overseas Bank recovered 1.8 percent. "It's a technical rebound given that the market has been heavily sold the past week," said a Singapore-based dealer.
Singapore-listed Chinese shipbuilders COSCO Corp also lept 8 percent as China stocks <.SSEC> rose on hopes of regulatory steps to boost the market. [nSHA89432]
In Malaysia, Maybank > soared 6.1 percent to its highest in 3 weeks, while Bumiputra Commerce swelled 5.7 percent to a two week high.
Maybank's $2.7 billion attempt to buy Bank Internasional Indonesia was dealt another blow on Friday, with Indonesia's regulator ruling out making an exception on takeover rules. Malaysia's central bank blocked the plan on concerns the rules could cause losses at Maybank. Index heavyweights Sime Darby and IOI Corp were also lifted as palm futures climbed 3.1 percent. (Additional reporting by David Chance, Editing by Lincoln Feast)
Friday, August 29, 2008
Friday, August 22, 2008
新加坡股市收盘走高，大宗商品类股上扬
新加坡股市周五收盘小幅走高，但地产类股的疲软走势部分抵消了大宗商品类股上涨带来的影响。
新加坡海峡时报指数收盘涨9.8点，至2723.30点，涨幅0.4%；大盘有212只股上涨，197只股下跌。
成交量为6.452亿股，低于周四的8.589亿股。
原油价格前夜上涨5%导致蓝筹股走势不一。
海峡时报指数30只成分股中，17只上涨，8只下跌，5只持平。
辉立证券(Phillip Securities)交易员Joe Tiong称，今日市场交投十分淡静；尽管油价飙升，市场成交量仍然处于低位。
Tiong称，下周新加坡股市料将走高，因为他预计原油价格将再次回落。
新加坡海峡时报指数收盘涨9.8点，至2723.30点，涨幅0.4%；大盘有212只股上涨，197只股下跌。
成交量为6.452亿股，低于周四的8.589亿股。
原油价格前夜上涨5%导致蓝筹股走势不一。
海峡时报指数30只成分股中，17只上涨，8只下跌，5只持平。
辉立证券(Phillip Securities)交易员Joe Tiong称，今日市场交投十分淡静；尽管油价飙升，市场成交量仍然处于低位。
Tiong称，下周新加坡股市料将走高，因为他预计原油价格将再次回落。
Monday, August 18, 2008
18-08-2008: Poser over Hong Leong’s bet on UK gaming
KUALA LUMPUR: Hong Leong Company (Malaysia) Bhd’s strategy in buying into UK casino and bingo-club operator, Rank Group plc, remains unclear even as it moves closer towards a 30% shareholding threshold requiring a takeover offer, industry observers said.
As of Aug 12, Hong Leong, controlled by billionaire Tan Sri Quek Leng Chan, had increased its stake in Rank to 22.3% from 18.1% on July 22. Now the largest shareholder in Rank, Hong Leong began buying shares in the gaming operator in January, prompting speculation of a takeover.
An analyst at a local research house said: “Hong Leong seems intent on buying into Rank.
Although the shares are at an attractive level, it is unclear what their strategy is. It is hard to see where they are going and how they could succeed.”
Hong Leong’s interest in Rank is held via units of Hong Kong-listed Guoco Group Ltd, which is controlled by Hong Leong, whose listed entities in Malaysia include Hong Leong Financial Group Bhd.
Incidentally, Genting Bhd has also acquired an 11% stake in Rank since late last year, but it has been reported that Genting rejected claims it would make a bid for Rank.
Rank’s share price slumped last year following a profit warning issued in October. Although the UK’s second-largest casino and bingo-club operator, the gaming company has seen sales declining since the introduction of UK’s indoor smoking ban.
Its share price rose 2.2% to 82.75 pence on Aug 12 after Hong Leong raised its interest in the company that day. The price has since retreated, and was down 0.25p to 79.75p as of 6pm last Friday.
Meanwhile, the analyst said Hong Leong’s initial venture into UK’s gaming industry, the Clermont Club casino, had not been doing well due to the economic downturn and its continued investment in the sector was questionable. The company had bought the casino from Rank for £31 million (RM193.52 million) in 2006 through its hospitality and leisure arm, Guoco Leisure Ltd.
A gaming market watcher said that although Hong Leong had aggressively applied for casino licences in the UK, most had been rejected. According to Guoco Leisure’s 2007 annual report, it had secured three casino licences.
“Although Rank was a cheap buy, gaming is not Hong Leong’s expertise. We are uncertain why Hong Leong is continuing to pursue the business,” the market watcher said.
For the six months to June 30, 2008, Rank reported a revenue of £257 million, against £284.6 million a year earlier, while profit before tax was halved to £17.6 million.
Rank chief executive Ian Burke had said: “During the first half of 2008, we succeeded in stabilising the group’s financial performance, following a very difficult end to last year.
“Although group revenue and operating profit were substantially lower than in the first six months of last year, our performance reflects a significant improvement compared with the second half of 2007. The trading environment for all of our businesses remains challenging, with rising operating costs and increased financial pressures on our customers.”
Source
As of Aug 12, Hong Leong, controlled by billionaire Tan Sri Quek Leng Chan, had increased its stake in Rank to 22.3% from 18.1% on July 22. Now the largest shareholder in Rank, Hong Leong began buying shares in the gaming operator in January, prompting speculation of a takeover.
An analyst at a local research house said: “Hong Leong seems intent on buying into Rank.
Although the shares are at an attractive level, it is unclear what their strategy is. It is hard to see where they are going and how they could succeed.”
Hong Leong’s interest in Rank is held via units of Hong Kong-listed Guoco Group Ltd, which is controlled by Hong Leong, whose listed entities in Malaysia include Hong Leong Financial Group Bhd.
Incidentally, Genting Bhd has also acquired an 11% stake in Rank since late last year, but it has been reported that Genting rejected claims it would make a bid for Rank.
Rank’s share price slumped last year following a profit warning issued in October. Although the UK’s second-largest casino and bingo-club operator, the gaming company has seen sales declining since the introduction of UK’s indoor smoking ban.
Its share price rose 2.2% to 82.75 pence on Aug 12 after Hong Leong raised its interest in the company that day. The price has since retreated, and was down 0.25p to 79.75p as of 6pm last Friday.
Meanwhile, the analyst said Hong Leong’s initial venture into UK’s gaming industry, the Clermont Club casino, had not been doing well due to the economic downturn and its continued investment in the sector was questionable. The company had bought the casino from Rank for £31 million (RM193.52 million) in 2006 through its hospitality and leisure arm, Guoco Leisure Ltd.
A gaming market watcher said that although Hong Leong had aggressively applied for casino licences in the UK, most had been rejected. According to Guoco Leisure’s 2007 annual report, it had secured three casino licences.
“Although Rank was a cheap buy, gaming is not Hong Leong’s expertise. We are uncertain why Hong Leong is continuing to pursue the business,” the market watcher said.
For the six months to June 30, 2008, Rank reported a revenue of £257 million, against £284.6 million a year earlier, while profit before tax was halved to £17.6 million.
Rank chief executive Ian Burke had said: “During the first half of 2008, we succeeded in stabilising the group’s financial performance, following a very difficult end to last year.
“Although group revenue and operating profit were substantially lower than in the first six months of last year, our performance reflects a significant improvement compared with the second half of 2007. The trading environment for all of our businesses remains challenging, with rising operating costs and increased financial pressures on our customers.”
Source
Thursday, August 14, 2008
丽星邮轮(HK)中期亏损减少至4,943.6万美元
新加坡股市收高，受大宗商品、钻井平台建筑商类股上涨的提振
新加坡股市周四收盘上涨，受大宗商品和钻探平台建筑商类股上涨提振，但交易员们警告称，全球经济前景的不确定性将继续拖累投资者人气。
基准海峡时报指数收盘涨4.87点，至2816.66点，涨幅0.2%；大盘有251只股票上涨，231只股票下跌。成交量保持清淡，今日成交量为11.4亿股，周三为10亿股。
30只成份股中，有16只股票收盘走高，12只股票收盘走低，其余2只收盘持平。
基准海峡时报指数收盘涨4.87点，至2816.66点，涨幅0.2%；大盘有251只股票上涨，231只股票下跌。成交量保持清淡，今日成交量为11.4亿股，周三为10亿股。
30只成份股中，有16只股票收盘走高，12只股票收盘走低，其余2只收盘持平。
14-08-2008: Genting Intl 2Q net loss narrows to S$1.8m
KUALA LUMPUR: Genting International Public Ltd Co’s net loss narrowed to S$1.8 million (RM4.3 million) for the second quarter ended June 30 (2QFY08) from a loss of S$54.1 million a year earlier.
The results were affected by a one-off redundancy costs as well as costs of closure of certain casinos which are steps taken by the group to address the current challenging trading environment in the UK. Revenue fell 34% to S$126.3 million due to the poor performance of UK casinos.
Lower patronage and drops per head were exacerbated by lower win percentage due to luck factor in the current quarter, the company said in a statement yesterday.
For the first half of this year, the group recorded a drop of 69% in net profit, which came in at S$4.2 million from S$13.8 million a year earlier. Casino operations remained the largest revenue contributor to the group, with S$267.3 million in 2008, which was a drop of 35% from S$359.7 million in 2007.
It is the largest casino operator in the UK, with 44 casinos, comprising 39 within provincial estates and five in London including some of the finest casinos in the UK.
It had in June this year entered into a partnership with NEC Group in UK, through its wholly owned subsidiary Genting Stanley (Solihull) Ltd, to develope a leisure and development complex at The National Exhibition Centre (NEC) in Birmingham for £90 million (RM559.3 million).
Genting also said that the construction was progressing well for its integrated resort in Sentosa Island, Singapore, and the soft opening scheduled for early 2010 was on track.
As at June 30, 2008, more than S$2.9 billion in construction contracts ranging from road diversion works to reclamation, substructure and main builder works for four hotels, casinos, ballroom, showroom and retail area have been awarded.
Source
The results were affected by a one-off redundancy costs as well as costs of closure of certain casinos which are steps taken by the group to address the current challenging trading environment in the UK. Revenue fell 34% to S$126.3 million due to the poor performance of UK casinos.
Lower patronage and drops per head were exacerbated by lower win percentage due to luck factor in the current quarter, the company said in a statement yesterday.
For the first half of this year, the group recorded a drop of 69% in net profit, which came in at S$4.2 million from S$13.8 million a year earlier. Casino operations remained the largest revenue contributor to the group, with S$267.3 million in 2008, which was a drop of 35% from S$359.7 million in 2007.
It is the largest casino operator in the UK, with 44 casinos, comprising 39 within provincial estates and five in London including some of the finest casinos in the UK.
It had in June this year entered into a partnership with NEC Group in UK, through its wholly owned subsidiary Genting Stanley (Solihull) Ltd, to develope a leisure and development complex at The National Exhibition Centre (NEC) in Birmingham for £90 million (RM559.3 million).
Genting also said that the construction was progressing well for its integrated resort in Sentosa Island, Singapore, and the soft opening scheduled for early 2010 was on track.
As at June 30, 2008, more than S$2.9 billion in construction contracts ranging from road diversion works to reclamation, substructure and main builder works for four hotels, casinos, ballroom, showroom and retail area have been awarded.
Source
Tuesday, August 12, 2008
IRs on track to open in 2009, 2010
TWO years after the contracts for the integrated resorts (IRs) were awarded, both Marina Bay Sands (MBS) and Resorts World at Sentosa (RWS) say they are on track to open in December next year and the following year, respectively.
Hiring for the 10,000 staff that each resort will need is expected to start next year.
Rising construction costs, however, have caused a blip in their plans, with both resorts having to revise their budgets.
Soaring prices of building materials have seen MBS' cost rising from an estimated US$3.6 billion (S$4.9 billion) to US$4.5 billion.
And RWS, initially projected to cost $5.2 billion, bumped up its budget last November to $6 billion.
Both IRs told The Straits Times that the budgets were not likely to swell further.
MBS general manager George Tanasijevich said: 'Most of the construction contracts have been given out already, so costs of materials have already been factored in.'
Both IRs report that construction is going at full steam.
Mr Tanasijevich, asked in an interview yesterday on why the construction at Marina Bay seemed to be going more slowly than the work at RWS, retorted: 'Well, 40 per cent of our project actually lies deep underground.'
Workers at Marina Bay have had to struggle with building on land reclaimed with marine clay, but with the foundations having been laid, the buildings are beginning to 'see light' now.
'From now on, we should expect to see the construction moving very, very rapidly.'
By next June, the three ironic 55-storey hotel blocks should be completed, so the resort should be ready to open its doors in December next year.
RWS' head of communications Krist Boo said the resort's superstructures will be completed by the first or second quarter of next year. By year end, the centrepiece Universal Studios attraction will be completed and go into its testing phase. The resort will open on schedule by the first quarter of 2010.
Next month, RWS' construction team will work round the clock to complete the underground buildings; work will be ramped up in the building of the superstructures.
Ms Boo said: 'Never in Singapore has anything been built at such speed.'
In hiring, both IRs are facing a major headache in filling their vacancies - each needs a range of workers from bell-hops to cashiers, theatre performers to animal trainers.
Mr Tanasijevich and Ms Boo said they expect to start hiring the bulk of the workers from the middle of next year. Each IR is expected to create some 30,000 jobs for the Singapore economy.
For jobs that did not previously exist here, like amusement park operators, Ms Boo said 60 key staff members will be sent to Universal Studios in Orlando, Florida, for a six-month training stint.
The IRs have also been working hard at securing new retail brands, readying their permanent in-house entertainment and courting the Meetings, Incentive Travel, Conventions and Exhibitions (Mice) market.
MBS has secured about 195 tenants for its 300 shops, where annual rents will run to US$453 per sq ft; it is also talking to 30 exhibition organisers and 40 conference organisers to bring major events here.
RWS has sold its meeting facilities worldwide, Ms Boo said, and is also in talks with some organisers to bring shows here.
Both camps are positive their projects will be a success.
As Mr Tanasijevich put it: 'Our optimism has done nothing but rise since we started.'
Source
Hiring for the 10,000 staff that each resort will need is expected to start next year.
Rising construction costs, however, have caused a blip in their plans, with both resorts having to revise their budgets.
Soaring prices of building materials have seen MBS' cost rising from an estimated US$3.6 billion (S$4.9 billion) to US$4.5 billion.
And RWS, initially projected to cost $5.2 billion, bumped up its budget last November to $6 billion.
Both IRs told The Straits Times that the budgets were not likely to swell further.
MBS general manager George Tanasijevich said: 'Most of the construction contracts have been given out already, so costs of materials have already been factored in.'
Both IRs report that construction is going at full steam.
Mr Tanasijevich, asked in an interview yesterday on why the construction at Marina Bay seemed to be going more slowly than the work at RWS, retorted: 'Well, 40 per cent of our project actually lies deep underground.'
Workers at Marina Bay have had to struggle with building on land reclaimed with marine clay, but with the foundations having been laid, the buildings are beginning to 'see light' now.
'From now on, we should expect to see the construction moving very, very rapidly.'
By next June, the three ironic 55-storey hotel blocks should be completed, so the resort should be ready to open its doors in December next year.
RWS' head of communications Krist Boo said the resort's superstructures will be completed by the first or second quarter of next year. By year end, the centrepiece Universal Studios attraction will be completed and go into its testing phase. The resort will open on schedule by the first quarter of 2010.
Next month, RWS' construction team will work round the clock to complete the underground buildings; work will be ramped up in the building of the superstructures.
Ms Boo said: 'Never in Singapore has anything been built at such speed.'
In hiring, both IRs are facing a major headache in filling their vacancies - each needs a range of workers from bell-hops to cashiers, theatre performers to animal trainers.
Mr Tanasijevich and Ms Boo said they expect to start hiring the bulk of the workers from the middle of next year. Each IR is expected to create some 30,000 jobs for the Singapore economy.
For jobs that did not previously exist here, like amusement park operators, Ms Boo said 60 key staff members will be sent to Universal Studios in Orlando, Florida, for a six-month training stint.
The IRs have also been working hard at securing new retail brands, readying their permanent in-house entertainment and courting the Meetings, Incentive Travel, Conventions and Exhibitions (Mice) market.
MBS has secured about 195 tenants for its 300 shops, where annual rents will run to US$453 per sq ft; it is also talking to 30 exhibition organisers and 40 conference organisers to bring major events here.
RWS has sold its meeting facilities worldwide, Ms Boo said, and is also in talks with some organisers to bring shows here.
Both camps are positive their projects will be a success.
As Mr Tanasijevich put it: 'Our optimism has done nothing but rise since we started.'
Source
丽星邮轮在菲律宾 合资发展酒店及赌场业务
丽星邮轮(Star Cruises)宣布与菲律宾上市公司Alliance Global Group(AGI)签署合作协议，将携手发展菲律宾酒店及赌场综合业务，包括Newport City项目及Bagong Nayong Pilipino娱乐城马尼拉项目。
为此，丽星邮轮将以3亿3500万美元（4亿7000万新元）收购AGI旗下Ttravellers公司的50％股权。Travellers及丽星邮轮将组成合资公司，以发展有关项目。
Travellers将持有合营公司60％股权，而丽星邮轮则持有40％股权。丽星邮轮可在适用法律准许的情况下，增持它于合资公司的股权至75％。
Source
为此，丽星邮轮将以3亿3500万美元（4亿7000万新元）收购AGI旗下Ttravellers公司的50％股权。Travellers及丽星邮轮将组成合资公司，以发展有关项目。
Travellers将持有合营公司60％股权，而丽星邮轮则持有40％股权。丽星邮轮可在适用法律准许的情况下，增持它于合资公司的股权至75％。
Source
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