Next year 2010 should be a year of margin and earnings recovery for Singapore’s transport sector, says Credit Suisse.
The broker says Singapore Airlines (C6L.SG) is its top sector pick as is key beneficiary of rebound in premium travel, pickup in Singapore tourist arrivals.
“Demand outlook for airlines is improving and this presents a good opportunity for SIA to raise yields.” It has rated SIA an “outperform” with $16.70 target price.
Kim Eng Research in a Dec 8 research report says: “The Integrated Resorts should boost tourist arrivals in 2010, benefiting SIE’s line maintenance business. Globally, air traffic has rebounded from the low of 1Q09 as passengers and businesses take advantage of cheaper fares to travel and ship goods. Capacity additions by airlines will also benefit SIE’s heavy maintenance business.
SIA Engineering (S59.SG) rose 0.3% to hit a four-session high of $3, but gains have been accompanied by thin volume.
UOB KayHian says buying fatigue seems to be setting in after its recent outperformance, reports Dow Jones Newswires.
Shares of SIA Engineering have risen 16.3% since beginning 4Q09 vs the STI’s 4.6% gain over same period, with volume gradually coming off after hitting year-to-date high of $3.08 last week.
Singapore’s Straits Times Index added 0.7% to 2,750.11 as of 10:06 a.m. Eleven stocks gained for every two that fell on the 30-member gauge. Shares on the measure trade at 16.9 times estimated earnings, compared with about 10 times at the start of the year, according to data compiled by Bloomberg. The following shares were among the most active in the market.
Singapore Airlines cut Chief Executive Officer Chew Choon Seng’s salary by 20% and parked planes in response to a global travel slump. It didn’t touch the $11 million it spends annually on wine and Dom Perignon champagne for first-class passengers.
Luring travellers back into premium seats is key for Chew to end a run of two consecutive quarterly losses, the airline’s worst streak in at least seven years. First-class and business class passengers account for about 40%, or $6.4 billion, of the carrier’s sales.
CIMB in a Nov 23 research report says: “SIE’s 2QFY10 results beat our expectations because of stronger-than-expected line maintenance, following record-high flights handled at Changi. We believe the strength will persist with airlines reinstating flights that were cut in the past year and adding capacity as demand turns around.
The following companies may have unusual price changes in trading today, say Bloomberg and Thomson Reuters. Share prices are from the previous close. Singapore’s Straits Times Index fell 0.6% to 2,779.98.
Asian stocks may extend losses today after US data showed slower than expected growth, but markets could find some support after the Federal Reserve raised its expectations for US growth in 2010.
The following companies may have unusual price changes in trading today, say Bloomberg and Thomson Reuters. Share prices are from the previous close. Singapore’s Straits Times Index gained 0.5% to 2,758.79.
US stocks slid last night as another batch of economic data pointed to the fragility of the recovery and a brokerage’s dim view on the semiconductor sector hit technology shares.
Singapore Airlines (SIA SP): Tiger Airways Pte, the budget carrier partly owned by Singapore Airlines, is considering an initial public offering of at least US$500 million ($694 million) next year, the Wall Street Journal reported. Also, airlines may have to compensate passengers on flights that are delayed for more than three hours, the European Court of Justice ruled yesterday in cases involving Air France SA and Germany’s Condor Flugdienst GmbH. Singapore Airlines fell 0.1% to $14.12.
RE:CONVERGENCE Returns to Colorado This Weekend
RE:CONVERGENCE, the second annual BoomBox festival, is back following last November’s CONVERGENCE in Ohio. This time Zion and Russ head further west to Colorado joined by a slew of other top notch artists.
This Friday (11/13) and Saturday (11/14), Euphonic Conceptions, Set U Free Music and Cervantes present a two-night festival-style BoomBox run that will takeover adjoined venues Cervantes’ Masterpiece Ballroom and Quixote’s True Blue in Denver, CO. The shows will host more than a dozen acts, vendors, and artists with BoomBox playing an extended set both nights beginning at midnight.
Performing over Friday and Saturday:
 BoomBox |
BoomBox (2 Nights)
Ana Sia (2 Nights)
Bluetech
Brainfeeder (SamIyam & Lorn)
Sexytime (Mimosa & Sleepyhead)
Lazer Sword
Megasoid (Sixtoo)
Blockhead (Ninja Tune)
Eskmo (Warp)
Two Fresh (1320)
Evol Intent Live (AJ, Knick, Gigantor)
Dave Seied
DJ Rootz
Fresh2Death (Fisk & Samples)
Octopus Nebula
Grown Folks
Jason Sterling
Limited amount of 2 Day Passes Available Now for $30
Advance $20 // Doors $25
18+
www.ecpresents.com
www.cervantesmasterpiece.com
The Basics Fund will be providing safe transportation with great music to the show from Boulder and Fort Collins. For more info, check out the event page here.
Word by: Chris Clark | Images by: Sara Chestnutt-Fry
Ana Sia/Flying Skulls/BoomBox :: 10.08 :: The Independent :: San Francisco, CA
 The Flying Skulls :: 10.08 :: San Francisco |
Thursdays are the new Fridays, a housemate of mine recently informed me. Judging from the crowd at S.F.’s Independent on a recent Thursday night, this notion rings true to many Bayaliens and visitors alike. Hosting one of the most eclectic arrays of talent this fair city has to offer, on this particular week the Indi will one night boast Drive-By Truckers, the next Everclear, and the third an electro triple bill featuring Ana Sia, The Flying Skulls and BoomBox.
With the feel of a Friday night Frisco freakout, the crowd began pouring into the tiny, 450-person confines of the Indi at 9:30 and steadily increased until the packed room was a scene. Ana Sia, a Bay Area favorite for grimy, dub step filled beats, took the stage first, not a place one usually finds her. Normally with Ana, she comes out late to blow the walls off a venue with her energy filled, self-described “global slut psy-hop,” but this night saw a more reserved, mellow version of the DJ. It was fairly evident she was working out some new material, traveling through fresh soundscapes while still incorporating some of that characteristically dirty-dirty, get low.
 BoomBox :: 10.08 :: San Francisco |
Without hesitation, Ana finished and The Flying Skulls picked up the room’s energy and ran with it. The digital-electro-DJ foursome of Jeff Wareham (J. Tonal), Jarvez Turnage, Jerome Forney, and Ribotto have been garnering a lot of attention as of late, performing bass-heavy, glitch-filled breaks and dub step to a rapidly expanding fan base. Highlighted by an approach that incorporates four distinct sounds into a harmonious melange, the Skulls brought the crowd to a boil early and never let off the gas. The hour or so set was sharp, well rehearsed, and near flawless. The Skulls have clearly been grinding hard, and it shows.
Going into the night, the biggest question mark was BoomBox. Consisting of two Alabama boys, Russ Randolph and Zion Rock Godchaux (yes that name is familiar for a reason), BoomBox has been enjoying some notable success throughout the South, playing for large crowds in their home and surrounding states. Utilizing the live drummer-producer formula popularized by Pretty Lights and augmenting it with live guitar, they appeal to both jamband kids and electronic heads, but don’t seem to fully grab hold of either scene fully. While some of BoomBox’s happy hued, up-tempo tracks built considerable energy, they failed to take it anywhere.
JamBase | San Francisco
Go See Live Music!
Consumer spending on laptops, netbooks and other goods, such as automobiles and home appliances, continues to drive semiconductor sales, according to SIA. Spending on chips in August were up 5 percent over July, marking the sixth consecutive month of increased sales. Netbooks is a particularly important market segment that fills the gap between smartphones and traditional laptops.
– Semiconductor sales continued to grow in August, jumping 5 percent over sales in July and rising for the sixth consecutive month, according to the Semiconductor Industry Association.
Still, the numbers were down significantly 16.1 percent when compared with the same month a year ago, according to t…
After upbeat financial results from Intel and better forecasts in the handset and PC industries, global semiconductor sales increased in the second quarter of 2008, according to SIA. Worldwide chip sales are also expected to increase later in 2009, according to new estimates.
– Global semiconductor sales picked up in the second quarter of 2009, as Intel
reported solid financial results and the forecasts for the PC and handset
markets showed new signs of life, according to a report by the Semiconductor Industry Association.
The SIA’s Aug. 3 report found that worldwide c…
Singapore Airport Terminal Services (SATS SP), the ground handling services provider partly owned by Singapore Airlines, gained 1.3% to $2.30. The company said net income in the first quarter ended June 30 rose 17% to $40.4 million.
Meanwhile, SIA Engineering Co. (SIE SP), the aircraft maintenance arm of SIA, slipped 1% to $2.85. The company said net income in the first-quarter ended June 30 declined 23% to $45.1 million.
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