Apple and News Corp launched The Daily, an iPad-only newspaper, Feb. 2. A lot of attention will be focused on whether its model can succeed in a dynamic marketplace. – Apple and News Corp launched The Daily, an iPad-only
newspaper, Feb. 2 in New York City. Priced at 99 cents per week (and $39.99 per
year), the publication enters a complicated and dynamic media environment that
seems to take special pleasure in crushing upstarts.
The question is whether the iPa…
Chew Kok Chor has been appointe ED wef Jan 24
Work experience: Deputy CEO, Raffles Education Corp Group; COO, Raffles Education Corp Group
Atsushi Tomita has been appointed MD, Anglo-Thai Co Ltd and United Motor Works (Siam) Public Co Ltd
Work experience: MD, Nichiyu Asia (Thailand) Co Ltd; MD, Nichiyu Asia Pte Ltd; MD, Nichiyu Australia Pty Ltd
Bursa-listed Malaysia Smelting Corporation Berhad, the integrated tin mining and tin smelting group, announced that its IPO was 0.9 times oversubscribed.
Malaysia Smelting Corporation’s IPO comprised 25 million ordinary shares at $1.75. In total, applications amounting to 47,749,500 offering shares — comprising valid applications for 23,759,500 offer shares and 23,990,000 placement shares.
Phillip Securities says the results were above its expectations; it maintains its Buy call and raises its fair value to $13.40 from $12.52 (on an increased valuation for O&M to 15X vs 13.5X FY11E).
Singapore shares are likely to see a weak start on Wednesday after most Wall Street indices were flat overnight, as a surprise contraction in the British economy shook investors’ confidence. Singapore’s benchmark Straits Times Index <.FTSTI> fell 0.14% on Tuesday to 3,181.15 points. Here are some stocks and factors to watch:
The company, more than one-fifth owned by Singapore state investor Temasek Holdings (TEM.UL), posted a net profit of $1.42 billion before exceptionals, up from $1.26 billion a year ago.
Mainboard-listed R H Energy says it has been awarded with a US$7.9 million ($10.1 million) contract to provide emergency shutdown valve system to be installed along the 492 km gas pipeline from Changqing gas field to Hohhot, Inner Mongolia.
Wang Hairong, Executive Chairman and founder of the group, says, “We are very privileged to work with our customer, Inner Mongolia West Gas Corporation, on this project which is scheduled to be completed and delivered in the second half of 2011. The repeat order is another endorsement of our track record as a premier service provider in the oil and gas industry in the PRC. Including this latest award, we had been awarded a total of US$16.4 million orders by Inner Mongolia West Gas Corporation.”
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Phillip Securities has raised its target price for Singapore-listed shipbuilder Cosco Corp (COSC.SI) to $2.68 from $2.32 and maintained its “buy” rating.
According to DBS Vickers, Cosco Corp could benefit from the restructuring of its parent Cosco Group, which may inject two of its shipbuilding assets into the Singapore-listed unit.
Cosco Corp. said it isn’t in talks with Cosco Group about such a move, referring to an article in Singapore’s Business Times today.
At 10:02 a.m., Cosco Corp shares were down 3.3% at $2.34 on a volume of 1.8 million shares.
The possibility of the parent injecting its stakes — 19% of Cosco Shipyard Group and all of Cosco Shipbuilding Industry, which owns two shipbuilding yards in Nantong and Dalian — could add 20% to Cosco Corp.’s bottomline, DBS Vickers says in a report Wednesday.
Singapore-listed shipbuilder Cosco Corp (COSC.SI) has requested a trading halt on Thursday, pending the release of an announcement.
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DBS Vickers raised its target price on Cosco Corp to $3.03 from $2.76 and maintained its “buy” rating. At 9:14 a.m., Cosco Corp shares were up 4.3% at $2.41 on a volume of 18.6 million shares.
UOB Kay Hian in a Jan 12 research report says: “We expect OCBC to achieve broad-based loan growth from both businesses and consumers in 4Q10. Overseas markets in Indonesia and China also registered strong growth. We expect some moderation in earnings in 4Q10 post a record quarter for OCBC in 3Q10.
Wu Kuang-Hui has been appointed non-ED wef Dec 31
Work experience: CFO, Evergreen Laurel Hotel (Paris); CFO, EVA Airways Corp
