Written by The Edge
Friday, 27 August 2010 12:05
BNP Paribas lifts Starhub (CC3.SG) target price to $2.85 from $2.65, based on discounted cash-flow valuation, after accounting for lower pay-TV churn rate assumption, rolling over valuation base to 2011 vs 2010, says Dow Jones.
BNP says despite losing EPL football broadcast rights to SingTel (Z74.SG), Starhub’s pay-TV churn rate only slightly higher than before EPL loss. “StarHub’s non-sports content remains superior to SingTel’s.” Lowers 2010 pay-TV churn rate estimate to 10% vs 15%. Keeps Buy call.
Notes, “StarHub’s prospective (dividend) yield of 8.5% is attractive, especially in current volatile market environment.”
Monday, August 30, 2010
Singapore to spend $60b over next decade on rail network
Written by Bloomberg
Sunday, 29 August 2010 20:59
Singapore will spend $60 billion over the next decade to develop and double its rail network, Prime Minister Lee Hsien Loong said in a televised speech today.
Sunday, 29 August 2010 20:59
Singapore will spend $60 billion over the next decade to develop and double its rail network, Prime Minister Lee Hsien Loong said in a televised speech today.
Mah says property market was heading for a bubble
Singapore’s property market would form a bubble if the current momentum continued, Mah Bow Tan, Minister of National Development, said in Singapore today.
Singapore moves to cool property market
Written by Thomson Reuters
Monday, 30 August 2010 10:09
Singapore on Monday announced restrictions on people buying second homes as part of new measures to cool its residential property market, hurting property stocks.
The new measures, which take immediate effect, include decreasing the amount people can borrow to buy second properties to 70% from 80 perent, as well as extending a stamp duty on sellers who buy and sell within three years.
Monday, 30 August 2010 10:09
Singapore on Monday announced restrictions on people buying second homes as part of new measures to cool its residential property market, hurting property stocks.
The new measures, which take immediate effect, include decreasing the amount people can borrow to buy second properties to 70% from 80 perent, as well as extending a stamp duty on sellers who buy and sell within three years.
Sembcorp plans to issue $200m of notes due 2017, 2025
Written by Bloomberg
Monday, 30 August 2010 12:50
SembCorp Industries plans to sell $200 million of notes under its $1.5 billion medium-term note program, according to a Singapore stock exchange statement.
$100 million of 4.25% bonds will mature in 2025 while a further $100 million of notes which will pay interest of 0.55% more than the six-month Singapore dollar swap offer rate will mature in 2017, the statement said.
Proceeds will be used to repay debt and for general working capital purposes and DBS Group Holdings is managing the sale, the statement said.
Monday, 30 August 2010 12:50
SembCorp Industries plans to sell $200 million of notes under its $1.5 billion medium-term note program, according to a Singapore stock exchange statement.
$100 million of 4.25% bonds will mature in 2025 while a further $100 million of notes which will pay interest of 0.55% more than the six-month Singapore dollar swap offer rate will mature in 2017, the statement said.
Proceeds will be used to repay debt and for general working capital purposes and DBS Group Holdings is managing the sale, the statement said.
Watch 2,955 mark: Phillip Securities
Written by The Edge
Monday, 30 August 2010 13:00
Gains across Asian bourses keeping sentiment in Singapore market generally buoyant, although property stocks buck advance on additional government measures to rein in housing market, says Dow Jones.
Monday, 30 August 2010 13:00
Gains across Asian bourses keeping sentiment in Singapore market generally buoyant, although property stocks buck advance on additional government measures to rein in housing market, says Dow Jones.
Singapore’s DBS consumer head resigns: Update
Written by Thomson Reuters
Monday, 30 August 2010 15:06
DBS’s (DBSM.SI) head of consumer banking, Rajan Raju, has resigned after spending 11 years with Southeast Asia’s biggest lender, sources familiar with the move told Reuters on Monday.
Raju, who joined Singapore’s DBS from Citibank (C.N), will end his current role on Aug 31, His official last day is on Sept 30, according to a staff memo made available to Reuters. His successor will be announced shortly, the memo said. DBS confirmed Raju’s departure.
Monday, 30 August 2010 15:06
DBS’s (DBSM.SI) head of consumer banking, Rajan Raju, has resigned after spending 11 years with Southeast Asia’s biggest lender, sources familiar with the move told Reuters on Monday.
Raju, who joined Singapore’s DBS from Citibank (C.N), will end his current role on Aug 31, His official last day is on Sept 30, according to a staff memo made available to Reuters. His successor will be announced shortly, the memo said. DBS confirmed Raju’s departure.
Wing Tai, CityDev fall on government moves
Written by Thomson Reuters
Monday, 30 August 2010 15:53
Shares of property developers Wing Tai Holdings (WTHS.SI) and City Developments (CTDM.SI) fell more than 4% after the Singapore government announced measures to cool the residential property market.
Wing Tai and City Developments have relatively greater exposures to the mass residential segment of the market.
Monday, 30 August 2010 15:53
Shares of property developers Wing Tai Holdings (WTHS.SI) and City Developments (CTDM.SI) fell more than 4% after the Singapore government announced measures to cool the residential property market.
Wing Tai and City Developments have relatively greater exposures to the mass residential segment of the market.
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