Username
Password
Forget Password?
  1. Indices
  2. Commodities
  3. Currencies
Straits Times 3,125.71 +1.26 +0.04%
Hang Seng 26,521.85 0.00 0.00%
Dow Jones 26,787.36 -29.23 -0.11%
Shanghai Composite 3,007.88 +34.23 +1.15%
Headliners
Headliners | 08 January 2010
Related stocks:
G13
5EN
By: David Lee
Articles (57) Profile

China Taisan Receives Green Light For ADR Facility
Singapore-listed China Taisan Technology Group Holdings said yesterday that its application to establish an American Depository Receipt (ADR) facility in the US has been approved by the US SEC and effected on Dec 29. Each company ADR represents 30 ordinary shares and trades in the US over-the-counter (OTC) market.
The Chinese company believes the establishment of the ADR facility will enable it to attract foreign investors since they are not required to bear the time difference, cross-border transaction fees or currency exchange fees. It believes the move will expand its investor base and increase the liquidity of its shares.

14 Catalist Firms Still Without Sponsor As SGX Deadline Looms
Of the 154 Catalist companies, 14 have yet to find a sponsor as of Jan 6, 2010 with less than a month left before the Feb 5 deadline arrives. Since the announcement of the new rule, 101 have found sponsors while 33 have transferred to the Mainboard and 6 have delisted. Failure to appoint a sponsor will result in suspension in trading of shares until a sponsor is found or other corporate action could be taken to maintain their listing status, for instance, by moving to the Mainboard. Otherwise those without sponsors by the end of the year will be delisted.

Of the 14 still without a sponsor, 5 are either suspended from trading or have already indicated alternative plans – Oriental Century, Asiatravel.com Hldgs, Iconic Hldgs, CFM Hldgs and Koon Hldgs. The 9 remaining companies which have to find sponsors are: AA Group Hldgs, China Video Surveillance, Hartawan Hldgs, Keda Comm, Medtecs International Corp, Oniontech, Progen Hldgs, Unidux Electronics and Wepco.

Genting Singapore Buoyed By Imminent RWS Opening
The on-schedule and imminent opening of Resorts World at Sentosa (RWS), a quarter earlier than its counterpart Marina Bay Sands, have sent its owner, Genting Singapore’s (GS) share price rising from $1.17 per share just before Christmas to hitting an intraday high of $1.31 on Jan 5, before finally closing at $1.28 for the day.
 
The perceived advantage is that RWS’ casino could have a headstart in developing a base of Singaporean regulars who will likely choose to pay a $2,000 annual entrance fee over the $100 daily entrance fee, thus locking in their choice destination. The release of Casino Regulatory Authority’s (CRA) strict junket licensing regime also failed to dampen investor sentiments.
 
Several brokerage houses have projected GS’ FY10-11 revenue to be in the billions, a jump over its FY08 revenue of $644m. CIMB predicted FY10-11 revenue to be $2.94b and $3.57b respectively; Goldman Sachs at $2.97b and $3.68b respectively; JP Morgan, who is the most bullish, at $3.54b and $4.11b respectively. One caveat though – the projections are based on the assumption that there will be significant business generated by VIP casino clients with at least a couple of major junket promoters applying for licences to operate in Singapore. Should the junket licenses turn out to be harder to obtain, a review in the revenue projections may be needed.

Midas Adds 2 More Contract Wins Worth Rmb60.6m
Midas Holdings has clinched 2 contracts worth Rmb60.6m to supply to train manufacturers involved in rail projects in Singapore and China. The company said that its aluminium alloy division has secured contracts to supply extrusion profiles for 315 train cars in all, with deliveries slated to be between Feb 2010 to Jun 2015. Thus positive financial impact is expected for FYs ending 2010 to 2015. Since last June, Midas’ aluminium alloy division has secured more than Rmb1b worth of contracts to supply to high-speed train projects, metro train projects and international ones.

Genting Singapore  0.920 +0.005 +0.55%   
Business: Develops, operates & mkts casinos & IRs globally, including Australia, M'sia, Philippines & UK. [FY18 Turnover] Gaming (66.1%), non-gaming (33.8%), others & invs (0.1%).

Insight: May-19, 1Q19, despite Co's non-gaming business reg... Read More
Midas Hldgs  -- -- --   
Business: Manufacturer of aluminium alloy extrusion products for China's rail transportation sector. [FY16 Turnover] Aluminium alloy (99.3%), polyethylene pipe (0.7%).

Insight: Jan-18, Co announced that its JV company, CRRC Nan... Read More


Join The Conversation
The Shares Investment editorial team welcomes constructive feedback on our coverage and content. We would also be delighted to answer any questions on the above article. Leave us a comment below, and we'll get back to you shortly!

All Rights Reserved. Pioneers & Leaders (Publishers) Pte Ltd. Best viewed with Mozilla Firefox 3.5 and above.