Different between RON95 and RON97

I am having 2 cars, an old junk 13 years old and a new car. When government started to introduce the RON95 in September last year, i switch to use RON95 on my old car but remain using RON97 on my new car. Decision as such just because i heard too many story about new RON95 petrol about it side effect, knocking sound, less power, petrol consumption higher, engine could be spoilt, RON95 is dirtier & blah blah blah. That left me no choice to continue using RON97 for new car for fearing of the side effects and thinking of what the hack and what worst can it be on a 13 years old car, so long as i can save some money so opted RON95 on this.

After using more than 3 months RON95 on my old car this is what i can conclude:-

There is indeed a different between RON95 & RON97.......

1) Petrol consumption slightly higher but is of insignificant
2) RON95 is not as smooth as compare to RON97
3) There is engine knocking sound getting worst overtime especially when you press the accelerator

4) This is the worst one. Each time i started the engine, i normally worming up the engine for a while before engaging to drive. When i release my pedal, my car always jerk and the car engine nearing death. This happen after using RON95 for 2 months.

I was wondering could it be due to old car and the problem started to surface ?? I decided to switch back to RON97 before i send my car to work shop for checkup. To my surprise, the above problem disappear after switching back to RON97.

hmmmmm........ there is something for me to ponder here....!?

To remain RON95 or paying a higher premium for a better grade patrol !? or... should i mix the two? 2 weeks for RON97 and 1 week for RON95.........or my old junk's engine just not suitable for RON95 ?

Petrol that sold by Petronas, Shell, BHP, Esso, Caltex and Mobil is not the same i believe. Each company has its own ingredients to enhance the ability of the quality of petrol respectively. So could anyone here tell me which company offer the best RON95 ??

PBBANK has started initiation of Shares Buy Back ?

I extracted the announcement below this morning and noticed that the figure that i calculated for outstanding treasury shares is not tally. So would like to make a correction and record here. At least to make the figure near or close to accuracy so as to serve a more accurate calculation in future. Looks like PBBANK is starting the buyback activities. Remember there is initiation of 10% shares buyback here. Good Luck!! :)

1295 PBBANK PUBLIC BANK BHD


Notice of Shares Buy Back - Immediate Announcement


Date of Buy Back : 28/01/2010

Description of Shares Purchased : Ordinary shares of RM1.00 each

No. of Shares Purchased : 10,000 shares

Minimum Price Paid For Each Share Purchased : RM 11.740

Maximum Price Paid For Each Share Purchased : RM 11.740

Total Consideration Paid : RM 117,400.00

No. of Shares Purchased Retained in Treasury : 10,000 shares

No. of Shares Which Are Proposed To Be Cancelled : 0 shares

Cumulative Net Outstanding Treasury Shares As At To-Date : 68,025,318 shares

Adjusted Issued Capital After Cancellation : 0

Date Lodged With Registrar of Company :

Lodged By :



Remarks:

Total cumulative net outstanding treasury shares as at 28 January 2010 comprise

the following:

68,025,318 Local Shares (Stock Code: 1295)

12,461,850 Foreign Shares (Stock Code: 1295F)

---------------

80,487,168

=========

Genting upgraded to 'buy'

Read the snippet news below :-

Genting upgraded to 'buy' at Maybank

Genting Bhd, Southeast Asia’s largest publicly-traded casino operator, was upgraded to “buy” from “hold” at Maybank Investment Bank Bhd on optimism its Resorts World Sentosa project in Singapore “will pull in the crowds” and boost its earnings.


Maybank also raised the company’s share price estimate to RM8.85 from RM7.08. -- Bloomberg
 
Upgrade from hold to buy from RM7.08 to RM8.85. Just get the different between the two prices (8.85 – 7.08), a RM1.77 upgraded and is 25% increase in price. What does this mean ?


It means GSP/Resorts World Sentosa can boost Genting earning by 25% assuming RM7.08 is fully value price. Wow !!

What Can i hope from GENM ?

Wedding Gifts, Favours, Bells said...

wat do u think of GENM... how much holdings they had in genting sp? GENM not moving at all... hovering between 2.70-3.00 for very long time liao...

January 19, 2010 3:36:00 AM GMT+08:00

Horse said...

Wedding Gifts,

GENM has been underperformed & it current valuation stood abt 13X PE which is far from 17X PE. I believe soon they will do a catch up. Strong cash flow & stable earning, i hope for a special div coming Feb 2010 since they got ton of cash but usually a fat hope. :(

Many avoiding this guy as there is competitive risk from Resorts Singapore where business might be affected.

Secondly, is the RPTs recently where Genting try to get cash out from GENM.

Thirdly, is the long waited special div never come to reality to unlock cash reserves that cause many disappointment including me. :(

Anyway im still keeping & hope for a turn around.

January 19, 2010 10:03:00 AM GMT+08:00

-------------------------------------------------------------------------------------------------------------

I personally feel that GENM is a super laggard & underperformed stock, if one were to trading within the range, it will surely make a lot from this. Furthermore, buying anything at this range should be quite safe, the down side is limited but the up side is quite promising. Assuming the below valuation :-

Net profit for 3Q for year ending 2009 stood at = RM965m

Total EPS for all 3Q = 16.89sen



Assuming,

Expected Net profit for 4Q 2009 to be announced Feb2010 is = RM357m basing on 27% profit of it previous 4Q’s revenue

FY 09 profit = 965 + 357 = RM1.3b

EPS for 4Q = 6.05sen



Total EPS for all 4Q for year ending 2009 = 16.89 + 6.05 = 22.94sen

PE = 2.86/22.94 = 12.47sen



Fair value (basing valuation of 15X FY10 PE) = RM3.44

Did you see the FV !! Couple with GENM net cash pile approximately RM5b there which is continuing to grow, this represent about 0.85sen per share to be given away if they decide to but as I said earlier this is fat hope. If we just lump this amount into the valuation basing on current PE 12.47sen, so just whack the figure in (RM2.86 + 0.85) will give us RM3.71. Wow, see what I get here….!! With such solid cash backing, at current price (RM2.86) should be worth looking. I would expect or hope for a higher dividend payout announcement in the coming 4Q result at least if a special dividend is far too much.

Axis REIT plans new acquisitions

2010/01/21

Axis Real Estate Investment Trust (REIT) plans to acquire another three to five properties in 2010 and raise

RM113 million in the early part of the year. Its target was expand the total assets to at least RM1 billion from

RM907.7 million as at December last year, said Axis REIT Managers Bhd Chief Executive Officer Stewart

LaBrooy.

Axis REIT Managers is the promoter of Axis REIT. LaBrooy said the potential acquisition targets included

two units of brand new logistics warehouses in Johor, a factory or warehouse in Puchong and an office

building in Cyberjaya. The acquisitions will total RM180 million.

As at Dec 31, 2009, Axis REIT had 21 properties in Malaysia.

In a media briefing on Axis REIT's financial performance for last year and its future growth prospects, he

said: "We are positive about our financial results this year despite the soft property market.

"Our strategy is to maintain occupancy rates and make new acquisitions." He said the trust also planned

another capital raising exercise in early 2010. "There is potential to place out another 61.4 million units and

raise a war chest of RM113 million for future acquisitions," he disclosed.

LaBrooy said that among other developments for this year would be on its corporate property in Petaling Jaya

called Quattro West which was formerly known as Nestle House.

"We are undergoing a complete refurbishment of the building to reposition the asset and increase revenue," he

said.

He said Quattro West would be taken up by another listed company that had committed to a 15-year lease of

50 per cent of the space commencing July.

Another property that would provide unitholders with opportunities for capital gain was the proposed

acquisition of two logistics warehouses in Seberang Perai, Penang which was expected to be completed by

March.

The Seberang Perai warehouse acquisition at RM24.25 million, he said, was at a 9.2 per cent discount to

market value and would provide unitholders with a cpaital gain of approximately RM1.78 million.

"The acquisition will increase gearing level from 34.03 per cent to 35.61 per cent," he added.

LaBrooy said 35 per cent would be the trigger point for gearing level and should it touch above this level,

Axis REIT would a undertake private placement to bring it down.

Axis REIT's unit price, he pointed out, saw an improvement at the end of 2009 as compared to end of 2008.

"It closed at RM1.93, a 72 per cent increase from the 2008 closing price," he added. -- BERNAMA

Leader Universal

This company involve in 3 major businesses where 1) they are 1 of the largest cable & wire producer in South East Asia 2) in power generation business 3) a property development player where it developed several projects range from residential to commercial.

Cable & wire is the bread and butter of its revenue while power generation will become an important growth component & property business is just minimal.

The company has recently secured an agreement of 25 years from Combodia to develop a 230KV power transmission system worth around USD107m.

This will somehow translate to approximate of RM374m revenue but spread across to how many years was never mentioned in detail. Assuming just lump or whack this figure in the coming 4Q that will boost up its 4Q revenue to about RM900m…wow a fantastic & significant increase, more or less can match with BJTOTO’s revenue, this will in turn boost up the EPS drastically I presume but somehow profit margin for Leader is relatively very or extremely small I would say about 4% I wonder why ?? Maybe due to the operating profit margin for cable & wire business is very small about 3%. So, with that will give us RM36m net profit for 4Q & this represent a EPS of 8.24sen add up previously accumulated 3Q of 9.63sen, total is 17.87sen.

Basing on current price (RM0.91) the PE is trading at 5.09sen. Looks reasonably low enough for consideration but one needs to be careful of it high operating cost and low profit margin, any glimmer of unsustainable revenue will definitely run into red but there is 4% cushion constituted from the above power project likely to be quite stable for now.

***Some risk factor to consider :-

As I just dump the project figure to 4Q, this is not accurate at all as the revenue should span across to it entire project milestone.

At the point of writing this, I do not own any Leader shares as yet. The above do not serve as a buy call.

PBBANK distribute shares dividend again !!

PBBANK has just declared a distribution of share dividend of 1:68 and a 2nd interim dividend of 25%. All in all is about 1.47% + 2.06% = 3.5% of annual dividend yield. As mentioned in my previous post here, where i am expecting a share dividend as well for this quarter, true enough a share dividend is declared but of a smaller units by almost half (1:68) compare to previous (1:35).

Lets work out the estimation :-

Total shares issued = 2,472,348,084

Total shares in treasury (estimated) = 93,211,433

Shares dividend of 1:68 = 2,472,348,084 / 68 = 36,358,060

Estimated balance shares in treasury (After 1:68 shares dividend)

= 93,211,433 – 36,358,060

= 56,853,373

WOW, there is still estimated about 56million shares in treasury for next round of distribution ??

Remember there will be another 10% shares buyback in my previous post here.

Another 247million shares to play with, which mean PBBANK will somehow work toward unit trust approach by giving distribution of share units every single year..?

Looks like they are going to make this as annual event. That indeed good news in the long run for long term player like me. “Laughing all the way to Bank huh”

What do we expect from GENTING SP in 4 years time ??

While reading the report below, somehow there is some excitement when the report mentioning the growth in 4 years (the estimated revenue grow from $3billion this year to $6 billion in 2013), a double grow in revenue in just 4 years !!! that represent a 25% growth on every year which i think is a healthy growth. Isn't it ?

Assuming below…..

1st year (2010) = USD$3b = S$4.25b
EPS = 4.25b/10.2b = 41.67sen
Take 5sen PE, the Fair value(FV) = 0.4167 X 5 = S$2.08

2nd year (2011) = S$4.25b X 25% = S$1.06b + S$4.25b = S$5.31b
EPS = 5.31b/10.2b = 52.06sen
FV = S$2.60

3rd year (2012) = S$5.65b + S$1.06b = S$6.71b (Note: for easy calculation just take 1.06b as 25% growth)
EPS = 6.71b/10.2b = 65.78sen
FV = S$3.28

4th year (2013) = S$6.71b + S$1.06b = S$7.77b
EPS = 7.77b/10.2b = 76.18sen
FV = S$3.80

Do you think Genting SP will work out in according to above perfection ??
Even if profit stagnant with S$4.25b a year, you still get a FV of S$2.08, worth buying ??



Latest news below :-

Singapore’s First Casino ‘Ready’ to Open, Awaits Gaming License

Jan. 18 (Bloomberg) -- Genting Singapore Plc is ready to start operating Singapore’s first legal casino as soon as the city state’s government issues its gaming license, the company said today.

Genting Singapore’s stock added as much as 4 percent this morning on speculation gambling may begin at the company’s Resorts World Sentosa complex as soon as February’s Chinese New Year holiday.

“We are ready,” Robin Goh, a spokesman for Resorts World, said. “We can open the casino as soon as we have the license.”

Four hotels and 10 restaurants within the $4.5 billion Sentosa island complex will begin accepting guests from Jan. 20. A Universal Studios theme park in the complex is also waiting for a license to operate, and will open as soon as that is issued, Goh said.

A second casino resort, the Marina Bay Sands, being built by Las Vegas Sands Corp., will open later after encountering construction delays. Singapore announced in April 2005 it was overturning a ban on casinos that had been in place since independence. Resorts World and Marina Bay are the only two casino developments approved so far.

“We believe they, Resorts World, will get their gaming license before Chinese New Year,” Aaron Fischer, a gaming analyst at CLSA Asia Pacific Markets in Hong Kong, said in a telephone interview. “We expect gaming revenues to be bigger. There is a huge gaming market in Southeast Asia.”

In a report published last month, CLSA Asia Pacific Markets said it estimates Resorts World’s gaming revenue to rise from $2.5 billion this year to $3.8 billion by 2013. The Singapore casino market will generate $3 billion in revenue this year, growing to $6 billion in 2013, CLSA said in the report.

Genting Singapore gained 3.2 percent to S$1.29 as of 2:30 p.m. in Singapore. The stock climbed 200 percent in the past year, compared with a 67 percent gain for the benchmark Straits Times Index.

Understanding Dividend Payout Ratio

Dividend Payout Ratio (DPR) is one of the metrics used in fundamental analysis.

It almost seems like a measurement invented because it looked like it was important, but nobody can really agree on why.

The DPR (it usually doesn’t even warrant a capitalized abbreviation) measures what a company’s pays out to investors in the form of dividends.

A direct calculation of the DPR is by dividing the annual dividends per share by the Earnings Per Share.

DPR = Dividends Per Share / EPS

For example, if a company like PBBANK paid out 55sen per share in annual dividends and had 76.93sen in EPS, the DPR would be 71%. (55 / 76.93 = 71%)

The real question is whether 71% is good or bad and that is subject to interpretation. Growing companies will typically retain more profits to fund growth and pay lower or no dividends.

Companies that pay higher dividends may be in mature industries where there is little room for growth and paying higher dividends is the best use of profits (Beverage, Gaming, Telco & REIT is fall into this group).

Either way, you must view the whole DPR issue in the context of the company and its industry. By itself, it tells you very little.

PBBANK Shares Buy Back

This is indeed good news to all shareholders, not only it will stabilize the share price, likelihood that future share dividend may be even more envisaged. See here my previous post about PBBANK.

With purchase up to 10% of its share issued, it will mean about 247millions share, that represent about RM2.8b at current price of RM11.40. In other word PBBANK only spending 8% to 9% of it cash balance, which is relatively small. After the share buyback the estimated treasury shares will stood at 247 + 93 = 340m shares.
This giant still remain very robust.

See news below :-

Public Bank to seek nod in AGM


KUALA LUMPUR: Public Bank Bhd will be seeking shareholders’ approval to purchase up to 10% of its issued and paid-up share capital at its AGM on a date to be announced later.

In a statement to Bursa Malaysia, Public Bank said a statement to shareholders containing information on the proposed share buy-back authority would be despatched to shareholders together with its annual report in due course.

BSDREIT

As we enter in January and February of 2010, there is this REIT worth mentioning, which is one of its kind in REIT industry, a first plantation REIT in Malaysia. Yes is none other than BSDREIT. Most of the REITs that we dealt with today are usually buildings REIT but this one is plantation land REIT.

BSDREIT is an ISLAMIC plantation-based reit as well. It is managed & administered by Boustead REIT Managers Sdn Bhd. Its investment objective is to invest primarily in plantation assets (oil palm estates and palm oil mills). BSDREIT currently owns plantation lands that previously belong to Boustead Group. Those lands are sold to Bsdreit and then lease back to Boustead Group, in return Bsdreit get the leasing fees as revenue. Beside the leasing fees, there is also agreement for Bsdreit to gain some % of profit sharing from the increase of CPO price.

January & February are the crucial months for Bsdreit as the company is entering the months to consolidate their total income and it is also estimated to announce the distribution payout around this period, i guess this might provide kicker to the share price as well.

At the point of writting this, Bsdreit stood at RM1.31. Lembaga Tabung Haji is accumulating it almost every single month in open market since June 2009.

What do we expect from BJTOTO in the coming quarter (Mar 2010) ??

As of March 2009 BJTOTO stood at cash flow of 230 millions. With recent active shares buyback to about 13m shares, do we expect another shares dividend ?? Obviously, no one would know except the management of BJTOTO. One thing for sure to give out shares dividend the current repository of Bjtoto’s share still far from it capability, they need at least balloon up to 100m shares buyback in treasury before June 2010 in order to be able to do so. Which mean another 87% shares require for this exercise to materialize. Lets assume shares buyback at an average price of RM4.35, thus, 4.35 x 87m = RM378m. A total of RM378m needed !? where is the money come from ?? Through borrowing again ??

So, I’m quite skeptical any shares dividend will be declared in the coming 4th quarter but however a likelihood of 3rd Q interim dividend is possible after they have advanced dividend payment of the 2 previous quarters. Judging the dividend payout every quarterly, it is time they exercise the 3rd Q dividend else we will actually truly ‘miss’ out 1 dividend following their norm dividend payout history. BUT don’t hope for big this time round, I am expecting around 5sen to 8sen 3rd Q dividend in March 2010.

What can we expect from CarlsBerg in 2010 ??

Let assume the buy over of Carlsberg Singapore run smoothly and the crunching of estimated figures are as follows :-
On assumption profit for years 2009 & 2010 remain the same as in 2008 for Carlsberg (M) & Carlsberg (S)……..

Total acquisition = RM 370m
Carslberg (M) Cash Balance = RM 231m
Borrowings to finance the acquisition = RM 150m
Gearing ~ 150/370 = 0.4 times (acceptable to me)
***Note : Borrowings may not occur as it may accumulate sufficient fund before 2009 end.

Carlsberg (M) Net Profit (Year 2008) = RM 76m
Singapore to contribute est 50% net profit to Carlsberg (M) in 2010
= 76 + (76 * 0.5) = RM 114 m

Conservatively 50% of the net profit will be used to pay dividend = 114/2 = RM 57m

1000units holding of Carlsberg will get a dividend of = 57m/308m = RM185

This represent a dividend percentage of = 185/4600 x 100 = 4% for year 2010 still better than 2009... :)

EPS = 114m/308m = 37sen

PE = 4.6/0.37 = 12sen (Not bad)

Compare to its peer GUINNESS stood at PE 14sen.

Fair value for Carlsberg (M) = 14 x 0.37 = RM5.18 ... :)

Beside what you get for above, do consider the following cost saving measure as well :-

1) The operational synergies where it would shift sourcing back to Carlsberg (M).
2) Advertising and promotions would enjoy double tax deduction.

I own some Carlsberg shares while writing this, join me if you want…. :)

How to calculate Brokerage fee for newbies........??

Greenleaf // December 28, 2009 9:33:00 PM GMT+08:00


Hi hng and horse,

Now, I understand why you mention buy high, sell low. Currently, I am holding BJTOTO which I bought at 4.28 and buy again at 4.2 cost average to become 4.22. I think that this is the way you mentioned, buy high sell low. :) Now, I have made some profit but I will not sell it yet because I think it will rise more again.
For the tax claim back, I have not done it because I really lazy to go to open the account and take the money. Because the money is quite little, I think not more than RM20 because last time, I buy very little amount of stock to try my trading techniques. So, I will claim it when I start working around June or July 2010 if I manage to graduate properly. :)
Thanks for the great guide. I am a bit confused about the fees and charges, if I buy at high price(eg: 4.28) and I buy again at low price(eg: 4.2), how to calculate the total fees and charges?


>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>


How to calculate Brokerage fee for newbies effectively ........??

Greenleaf, i suggest you to setup a table (spreadsheet) to calculate your brokerage fee and as a measure to your profit and loss or breakeven point for a particular stock that you purchase. This will give you exactly how much is your intraday or normal (T+1 onward) profit/loss.

Normal online brokerage is 0.4% (T+1 onward) negotiable and 0.1% for intraday.

Lets take 0.4% for your example and assuming you buy 1000units each on 4.28 & 4.2 respectively. Both transactions on the same day. Average price will have to take for calculation of brokerage as these two transactions are on the same day.

For Purchase :-

1) Average price = (4.28 + 4.2)/2 = 4.24

2) Total proceed = 4.24 x 2000 = 8480

3) Clearing Fee = 8480 * 0.0003 = 2..544 (RoundUp to 2 decimal) = 2.55

4) Stamp Duty = 8480/1000 = 8.48 (RoundUp to 1 digit) = 9 (subject to minimum RM1)

5) Brokerage(0.4%) = 8480 * 0.004 = 33.92 (subject to minimum brokerage whichever is higher)

6) Nett Purchase ( 2+3+4+5 ) = 8480+2.55+9+33.92 = RM8525.47


For Sales minus proceed with charges instead :-
 
1) Nett Sales ( 2-3-4-5 )
 
 
Greenleaf, with the above Puchase & Sales calculation you will be able to setup one table for your own to gauge your profit & loss..... :)

Will PUBLIC BANK pay share dividend this time round ??

Can PBBANK still afford to pay share dividend in the coming 4Q in Jan 2010 like what she did early this year ?? Tough question isn’t it ?? Lets work out some math here…again need to stress here the figure provided below is base on my best knowledge and information gathering through all sort of channels possible. I do not hold responsibility for the accuracy of the figure provided and it all works out to be approximation and estimation. If someone out there can enlighten the correct information will be more than welcome. Do your home work as well dude, no free lunch in this world.

Just take below figure as good, am too lazy to verify, after all it is just estimate and work out of my own imagination…


Total shares issued = 2,472,348,084

Total shares in treasury (before 1:35 share dividend) = 163,849,950

Shares dividend of 1:35 = 2,472,348,084 / 35 = 70,638,516

Note: just whack the figure in as accuracy is not important here.


Estimated balance shares in treasury (After 1:35 shares dividend)
= 163,849,950 – 70,638,516
= 93,211,433



Do you see what I see ?? Assuming no shares buyback this year, the balance shares left in treasury still remain high at 56%.

I for one still remain confident and optimistic that PBBANK can still afford to dump out some shares dividend if they want to of course at their own discretion, if they choose not to, you are still be rest assured of 25sen dividend in the coming 4Q 2010…. ;>

61% return in investment !! But i just lose it....

I stand a chance to manage a private fund from a group of my friend about a year ago. Of course, this work out is purely due to friendship and have no single intention of personal benefit in it. I was given the full control of the fund and only to agree to report to them on a half yearly basis.

I've just finalized a simple account to all the “unit holders” so call, and to my surprise I managed to garner a return of 61.04% since inception of this fund. This is far too good compare to my own personal investment in which I merely get about 16% this year.

Sound pretty impressive right ??? Of course, in bull market this return is nothing to shout about. Many can achieve much higher than this I believe. What if bear is coming to town ??? Would you be able to sustain the same kind of growth ??? Frankly, i don’t know but what I have adopted is the same method I used to do all this while, by long term investing to quality and dividend stocks solely. Except that this fund I added some recipe in it where I traded some of the stocks by buying and selling and keep repeating them but limited only to the same group of quality stocks. Simple method, buy high sell low, buy high sell low and again buy high sell low on the same old stocks. Transaction traded not very high about 2 – 3 at most per month….  May be this is luck that just comes this year and you may not be that lucky next year. hahaha


Obviously, why is there such a big different comparing my personal return, 61% versus against 16% ?? A complete opposite ?? I notice that I dare not risk my own fund too much while dealing with trading, so I trade less, on the contrast, I trade more on people’s money… see the difference…AHA!! Who cares !! after all is not my money that I am dealing with. I lose nothing. So, who win this round ?? The psychology wins and wins real BIG this round. Dealing with people’s money tends to be fearless, aggressive, risk taking and determine. Of course, with these elements in me, I don’t just invest blindly, still stick to my rule of thumb, only quality & dividend yielding stocks.


Till then happy trading, may the best price be yours.

Genting SP a steal at current price ????

Everyone know Genting Resorts World Sentaso is starting its debut sometime in January 2010. Lets do some "lazy" calculation by working out the projection earning that it may bring in in year 2010. Of cource one just don't swallow what i bring to you here, it may all just turn out to be a crab for goodness sake. Again do you homework and find out all facts by yourself, no one you can really trust when come to real $$$ and invesment. I wish to mention here, the figure that i work out here is an estimation and largely possible a fictitious figure because as told before i am just a lazy guy. Trust at your own risk.

Assuming........

Fund raising of S$1.63b through RI of 2.04b shares at S$0.80 has just been concluded.

Let say this represent 25% of total share issued of GSP. Which mean 2.04b x 5 will give new total share issued of = 10.2b shares. Just take it as good for now, just too lazy to find out... :(

Estimated revenue for year 2010 is USD3b, this represent S$4.25b+-. Take the whole revenue as net profit...:) who knows ?? the figure might be higher.... :)

That will give us, an estimated EPS of 4.25b/10.2b = 41.67sen.......

Lets talk about PE, at current price GSP is trading a PE of 1.17/0.4167 = 2.8sen...

WOW, believe it or not, so low ???? Basing the industry gambling PE say.... 5sen is the worst i can think off, that will represent a fair value of S$2.08.... almost can deliver double of investment at current price. Guys, don't believe me this is just work out from imagination. If you choose to believe, at current price is a steal..... :)

FYI, i took in 2 batches of GSP at price of S$0.70 and S$1.11 respectively, also exercised partial of RI.

Recent News of GSP :-

Malaysian gambling concern Genting Bhd. is on track for a partial opening of its Singapore casino-resort by Christmas, stealing the lead on a competing project by Sheldon Adelson's Las Vegas Sands Corp.
Officially, Genting hasn't strayed from its target date of early 2010 for the opening of its US$4.4 billion Resorts World on the holiday island of Sentosa. But despite its cautious public projections, the developer has quietly been preparing for an earlier ramp-up, and a consensus is emerging among market-watchers that Resorts World will open ahead of Sands' Marina Bay Sands project in the heart of Singapore's business district.
Beating Sands to opening day would allow Resorts World to capitalize on the excitement around Singapore's long-awaited entry into gambling. Singapore's government for decades resisted allowing casinos, but reversed that policy in 2005. Morgan Stanley estimates Singapore's gambling industry could generate between US$3 billion and US$3.7 billion of revenue in its first year of operation.
Singapore's casinos are also well-placed to tap a deep reservoir of interest in Southeast Asia, and could take business from Macau casinos.
An earlier opening by Genting would be a setback for Sands, which won approval from Singapore's government to open a casino six months ahead of Genting and had for years been widely expected to open as Singapore's first casino.
Under Singapore law, local residents will be required to pay an entrance fee of 100 Singapore dollars (US$72) per casino visit or an annual membership fee of S$2,000 for each casino. That gives whoever opens shop first a chance to stake out a strong position in the marketplace, according to Praveen Choudhary, a Morgan Stanley analyst.
A spokesperson for the Sands' Marina Bay Sands project declined to comment on Resorts World's timetable, but maintained its stated position that the Marina Bay project was "targeting to open" in the first quarter of 2010, though with only about 1,000 of its 2,600 hotel rooms ready, as well as most of the convention center, the casino and up to half of the retail shops completed. "The rest of the attractions will open progressively throughout the year," the spokesperson said.
Since Sands won its bid in May 2006, construction delays and high-level management changes have bedeviled the ambitious $5 billion project. As the credit crunch threatened Sands' financial health last fall, Mr. Adelson issued several news releases to reaffirm the company's commitment to the Singapore project.
One particularly challenging feature of the Sands project is its SkyPark, a 7,000-ton cantilevered floating garden that perches atop the project's three 55-story hotel towers. Sands says the public observation deck will be longer horizontally than the Eiffel Tower is tall.
In its official statements, Genting is delicate about the timing. Lim Soon Hua, who is marketing Resorts World in four mainland Chinese cities as well as Taipei and Hong Kong, said in an interview Wednesday in Hong Kong that the project was "moving very fast," with rollercoasters and rides at the casino project's Universal Studios project undergoing testing.
"We are on time, and [Sands has] said that they are delayed," Mr. Lim said. "As to which will be first, that's the $100,000 question—no one knows yet." But, he added that anyone who went and "took a look" would see the difference.
Over the summer, Genting announced a three-day charity benefit concert for mid-December at Resorts World, which analysts say indicates a late 2009 "soft opening" of the casino-resort.
Aaron Fischer, who covers the Asian casino business for CLSA Asia-Pacific Markets, said he believed Genting "is well on track for a late December opening," though he expected the opening to be restricted to high-rollers and loyal Genting clients ahead of grand opening in mid-February 2010.
Genting, which has a gambling monopoly in its home market of Malaysia, bought a 3.2% stake in MGM Mirage Inc. in June.

How To Assess REIT.....My Way

REIT also known as Real Estate Investment Trust. With the concept like Unit Trust by gather pool of money from all sizes of investors. REIT companies will invest, manage and distribute rental as dividend back to the investors.

Above are some of the useful information about REITs sector. One may assess them by looking at thier dividend yield (DY column) or the NAPS/NAV value to a particular REITs. Particularly, by looking at these two fields will somehow gauge whether it is worst investing but of course the dimension would not limit upto here. There maybe other factors affecting the value of REITs, one most important and particular factor is the sustainable rental income, as this will directly impact/contribute to your Distribution Per Unit (DPU)/Dividend you  received at the end of the day. REITs major incomes is rental income and it is required to distribute most of its profit as dividend to its holders. Malaysian REITs have a tendency to distribute at least 90% of its taxable profit as DPU/Dividend. If you are trying to find a good investment tool for your long term retirement plan. Do consider REIT. REIT will be attractive with a fair risk to be tolerated in compare to Fixed Deposit.

I am a lazy bum, i look for the most yield in term of dividend. So, take a look at the table, at one glance ATRIUM seem to provide the best DY and trading about 15% discount of it NAV. It provide good indicative for a longterm investment. There, at point of writting this, i possess some cake of this counter at a price of 76sen, coincidentally same price as my HEKTAR that i bought them since a year ago. here

 

If you are lazy as me, just take some time to calculate at what discount price the REITs are currently trading with it NAV and pick the DY that you are more comfortable with. There you go buy them and lock them in your safe.

Wicked Sick !!! Trader with >17K intraday profit.... :)

Can some trader beat this guy ?? Master of trader. Just a day trade with 17K profit in pocket. Further more it is traded in bearish market. Please also find his portfolio here for your trading idea. If you can't beat him then learn from him.

hng said...


Sold off all TM at 3.00, realize few hundred intraday gain :). In summary, portfolio realize intraday gain on Dijaya+TM and T+1 GENM, totalling more than 17k
Portfolio also manage to buyback more Dijaya at 91-92sen to further average down holoding cost from 95.5sen to 93sen (excluding earlier intraday gain). Dijaya has become top holding in portfolio.
Core portfolio

Dijaya 69.4%

Protasco 44.5%

Lonbisc 29.4%

Hingyap 18.1%

42% Return in REIT Investment on HEKTAR

Phew, a year just flown and we are coming to year end now.

Being dividend player, i always source for good company that offer high dividend yielding. On 16/12/08 when KLCI reaches its lowest point at around 800+-, i decided to lock in some REIT investment, after much consideration, finally pick up some HEKTAR that having some retail shopping mall assest type under thier wings. At that time, i bought them at a price of 76sen. It has been slightly over a year since i first picked them up, i have so far received total of 4 dividends/distribution per unit(DPU) and amounting to 10.2sen for year 2009. The break down is as follows :-

1) 11/03/09 - 3sen

2) 18/06/09 - 2.4sen

3) 16/09/09 - 2.4sen

4) 08/12/09 - 2.4sen

Basing the total DPU on my purchase price, i would have now garner a total of 13% return, couple with the appreciation of share capital a total of 42% return !!!

wow, isn't it is much much better off than Fixed Deposit for a mere 2% to 3 % !!?

I always aiming something that would give me 10% in return p.a either through dividend or share appreciation i would be very much happy then but this yield is far much better than my yearly target.

Investment in REIT has now entice me to be more focus in this area, no doubt share appreciation is slow at time but the consistent DPU is good enough to compensate your goal.

The above do not recommend a buy call from me, as Hektar stand to be very high in gearing about 50%-60%  if not mistaken. It could turn out to be a risky one if one do not play well in keeping it in well shape but it could also be a fruitful venture though.

Below are Hektar REIT's property portfolio :-

1) Mahkota Parade

2) Subang Parade

3) Wetex Parade