If Only they would produce These this Way!

Yes, they will thoroughly loved it. They will love those inventors and manufacturers who put them into the market. Enjoy!

Woman's Gun

Woman's Car Speedometer


Woman's Mouse

Playing Genting Singapore shares

It’s “game on” as punters come out to play Genting Singapore shares,dicey as it may be.

Some 395 million shares were traded yesterday (10 September 2009)with prices swinging from a low of S$1.08 (RM2.65) at the start of the trading day to a high of S$1.17 by mid-day.

The share price then proceeded to fall again to about S$1.12 before a late rally brought the price up to close at S$1.14, representing a fall of 4.2 per cent from the previous close of S$1.19 per share.

The high trading activity followed news that Genting Singapore was seeking a rights issue at an issue price of S$0.80 for each rights share, on the basis of one rights share for every 5 existing ordinary shares, possibly raising around S$1.6 billion.

As reflected in the price movements yesterday, market reaction to the news has been mixed.

In a note released yesterday, OCBC Investment Research said that given the recent run-up in Genting Singapore’s share price, it believes it may just be a good time to raise some cash as there have been some concerns about the cost overruns at Resorts World at Sentosa as well as its payment of its syndicated loan obligations of S$4 billion in 2011 and its S$450 million convertible bonds in 2012. However, OCBC added: “We think that these concerns may be overwrought. Instead, we see the move as more of an insurance, should there be any hiccups in the global financial system again.”

In view of the possibility of Resorts World at Sentosa opening before year-end and a more upbeat regional economic outlook, it was also adjusting its fair value from S$0.85 to S$1.05 per share. It also raised its FY2010 revenue forecast 11.4 per cent to S$774.7 million and reduced its loss forecast 66.7 per cent to a loss of S$20.7 million.

OCBC said it is maintaining a “hold” rating.

The rights issue took some by surprise

Nomura said in a note: “Given the anticipated strong cash flow from the integrated resort (IR) project, Genting Singapore is not in urgent need of cash, in our view.” It added: “We maintain our view that Genting Singapore’s IR will be a great success. At the S$0.80 per share rights issue price, its enterprise value is roughly about S$17 billion.”

Industry watchers expect the Asian gaming market to grow at a compound annual growth rate (CAGR) of 15.7 per cent for the next five years.

In a report by Dow Jones, Goldman Sachs said: “We think the market may be too optimistic on Singapore gaming demand and the competitive outlook.” It is keeping the stock at “sell”, with a target of S$0.65.

In Malaysia, reaction to the rights issue initially saw investors sell down Genting Bhd, Genting Singapore’s parent. Genting Bhd owns 54 per cent of Genting Singapore and many feared it might have to borrow for its RM2.1 billion (SS$856 million) share of the rights issue.

Having digested the news, however, investors seemed to agree with the majority of the securities houses. Genting shares rose 1.6 per cent yesterday to RM6.97 apiece.

JPMorgan rated the move as “positive” for Genting Bhd as investors “should expect more capital management and rationalisation of assets going forward”. It noted that while Genting Bhd had about RM300 million in spare cash, its subsidiary Genting Malaysia had RM5 billion in excess cash. Its target price for Genting is RM8.50.

Amresearch — the one house that correctly predicted the rights issue before the fact — was even more optimistic, raising Genting Bhd’s fair value to RM8.95 and valuing Genting Singapore, on a discounted cash flow basis, at S$1.28.

Maybank Securities sounded a lone dissenting voice, calling a “sell” on the stock with a fair value of RM5.10. It said that, at current prices, it was trading at 20 times its 2009 earnings, which “is almost as high as its 21 times peak in 2007” while its 18 times discount to its revised net asset value “is unattractive”.

Nor did it think that the Singapore casino would be a success. “Despite repeated assurances, we fear that the earnings outlook for Genting Singapore’s Resorts World at Sentosa may not be as bright as touted,” it said.

The Genting Rights Poser

CASINO developer-operator Genting Singapore has turned again to shareholders to raise $1.63 billion in the second biggest rights issue here so far this year. Unveiling the major cash call yesterday, Genting said its $6.59 billion Resorts World at Sentosa (RWS) is ‘on track, both in terms of project costs and timing, for a soft opening in early 2010′.

The proceeds ‘will strengthen the company’s financials and put the company on a strong position to tap strategic opportunities’, said Genting Singapore’s
managing director, Justin Tan.

However, analysts believe the funds will come in handy after earlier cost overruns at the RWS. The company is offering shareholders one rights share for every five existing shares held at cost of 80 cents apiece. The offer price represents a 32.8 per cent discount to Tuesday’s closing price of $1.19 when it was last traded – a record high. The stock has rallied 70 per cent since the start of July.

This is the second time Genting has sought funds from shareholders in the past two years, after it raised about $2 billion in a rights issue in August 2007. Genting Singapore is a unit of Malaysian gaming giant Genting Berhad, which owns 54 per cent of Genting Singapore. It has pledged to subscribe to one billion rights shares it is entitled to.

Mr Tan said support from banks had been very encouraging despite the uncertainty in the capital markets. About 60 per cent of the proceeds will be used to fund future acquisitions and investments. The funds may also be used to enter joint ventures, strategic collaborations or alliances ‘in areas related to its principal business in the leisure, hospitality and gaming sectors, as and when such opportunities arise’, it said in a statement to the Singapore Exchange.

The remaining funds will be used as working capital, which includes repayment of bank borrowings. The company probably took advantage of the sharp run-up in stock prices to get some money into the kitty,’ said OCBC Research analyst Carey Wong. ‘We see it as an insurance move to cover cost overruns of (RWS) and interest repayments of its huge debt and convertible bonds.’

There have long been concerns about cost overruns for the project. Genting has lifted cost estimates for the resort twice – in November 2007, the price tag for the resort was raised from $5.2 billion to $6 billion due to higher construction costs. Then in February this year, it raised the figure to $6.59 billion. The potential cash infusion of $1.63 billion will ease some pressure from interest payments, given that it is sitting on a $4 billion syndicated loan, analysts said.

Of Genting’s rights issue two years ago, about half, or some $1.19 billion, was used to finance the integrated resort. It also got a $4 billion syndicated credit facility in April last year to finance the resort.

Genting’s latest cash call came as something of a surprise, given that it said in its last statement that additional funding would come from operating cash flows when the complex opens next year. Genting Singapore, Britain’s No. 1 casino operator, may be looking to expand its Asian footprint. Market observers say potential investments on the radar could be Philippines’ Subic Bay, as well as in Macau.

Earlier in May, the Lim family which owns the Kuala Lumpur-listed flagship firm stunned the market by selling its entire 9 per cent stake in Genting Singapore for $615 million.

It was offloaded to institutions in a private placement at about 72 cents a share, representing a 16 per cent discount to the previous day’s closing price of 86.5 cents.

DBS Bank and CIMB Bank are arranging the offer. The issue will be fully underwritten by the two banks, as well as JPMorgan, RBS, CLSA, Deutsche Bank, HSBC and UBS.

The provisional allotments of rights shares may be accepted, and applications for excess rights shares may be made commencing from Sept 28 to Oct 12.

CapitaLand mounted the biggest rights issue so far this year, raising $1.84 billion in an offer announced in February.

So, Genting singapore shareholders, can you quickly pony up the funds?

[The source is from the Singapore Straits Times – 10th September 2009]

A Swallow's Grief!

Humans may think they are the only
ones who love, care, suffer loss. Look
at this and you may change your thinking....


Swallows:
Here his mate is injured and the condition is fatal.
She was hit by a car as she swooped low across the road.


Here he brought her food and attended to her with love and compassion..


He brought her food again but was shocked to find her dead.

He tried to move her ... a rarely-seen effort for swallows!


Aware that his sweetheart is dead and will never come back to him again, He cries with adoring love...


He stood beside her, saddened of her death.


Finally aware she would never return to him, he
Stood beside her body with sadness and sorrow.

Millions of people were touched after seeing these photos in America and Europe and even India . The photographer sold these pictures for a nominal fee to the most famous newspaper in France .

All copies of that edition were sold out on the day these pictures were published.

And many people think animals don't have a brain or feelings?

You have just witnessed Love and Sorrow ... Felt by God's creatures.

Be Weary of the Worrisome W

Singapore's Finance Minister,Tharman Shanmugaratnam cautioned Singaporeans to be prepared for the possibility of a sluggish world economy or even a double-dip recession in 2010.

He pointed out that improvements in the United States economy and around the world were mainly driven by aggressive government stimulus packages and a correction in private sector inventories.According to him, there is yet to be a firm or sustainable rebound in private spending that can underpin global economic growth in 2010 and beyond. As such,he advised that the nation should be cautiously optimistic about the economy in the next few years, both globally and in Singapore.

A double-dip recession — also known as W-shaped — refers to an economy pulled out of recession by a short period of growth but which then slides back into negative growth.

Singapore’s gross domestic product grew 20.7 per cent in the second quarter compared with the first, signaling a rebound in the economy after four consecutive quarters of decline. However,the Government has forecasted that the economy will still shrink by 4 to 6 per cent over the full year.

Tharman said that although the asset management industry’s portfolio declined in value by 26 per cent to S$864 billion (RM2.1 billion) in 2008 from a year earlier, fund flows have resumed. In the first half of this year, the assets under management of the 20 largest asset managers in Singapore grew by 23 per cent. Also, the corporate debt market only shrank by 2 per cent to S$168 billion last year.

A review of what caused the economy to be buoyant must be studied. How much of this is generated by the generic drug industry and how much by other pillars of the economy? Is the structural underpinning sustainable?

A Stake in Sime Darby for China?Possible ?

Sime Darby Berhad, the plantation-to-power conglomerate that is one of the world’s largest palm oil companies and also with extensive interests in the Middle Kingdom.

This unprecedented step was taken recently by the Najib administration and signals a move by the government to sell down its holdings in government-linked companies (GLCs) as well as to strengthen strategic ties with certain countries by allowing them or their investment arms to hold equity in Malaysian blue-chip GLCs.

The Malaysian Insider has learnt from government sources that Prime Minister Najib discussed the plan to offer up to 10 per cent of Sime Darby for sale to China at a recent Cabinet meeting.

There was strong support for the idea, seen as a move to firm up linkages between Malaysia and the powerhouse economy.

Following the Cabinet meeting, the government informed the Chinese government officially of its intent to offer it a stake in Sime Darby. It is unclear if the targeted buyer is China’s investment agency or any particular state-owned company.

Government sources said they do not expect Sime Darby’s major shareholders — Permodalan Nasional Berhad or the Employees Provident Fund (EPF) — to sell down their stakes. Instead, it is believed Sime Darby will issue new shares.

Listed in the Bursa Malaysia, Sime Darby shares closed 3 sen higher to RM8.23 yesterday (9 September 2009).

For the diversified multinational, selling a small stake of the company to a heavy hitter investor comes at a good time for its plantations, property, industrial, motors, and energy and utilities divisions. It also has interests in health-care.

The Group recently recorded a steep 41 per cent drop in profits and analysts have been asking serious questions about whether the group should shed some of its divisions and focus more on its staple palm oil business. Having an influential Chinese company as a shareholder will be especially helpful as it tries to expand its footprint in China.

Sime Darby counts China as one of its top markets for palm oil and has significant interests in motor, industrial equipment and ports in China.

The addition of a cash-rich investor will also help Sime Darby fund the expansion of its oil palm acreage. More importantly, the strategic tie-up will give the company a much needed boost.

For Malaysia, the decision to offer a stake in its prized corporate jewel signals a willingness by the government to open up its GLCs to foreign ownership. Its banking conglomerates have gone the other way with both CIMB and Malayan Banking aggressively expanding throughout Southeast Asia.

The current Sime Darby is from an early 2007 merger of Sime Darby Berhad, Kumpulan Guthrie and Golden Hope, all units within the Permodalan Nasional Berhad group of companies.

The original Sime, Darby & Co, was established in 1910 by European businessmen William Sime and Henry Darby, to dabble in the lucrative rubber industry before diversifying to cultivating oil palm and cocoa.

I think this story is palatable even though Sime Darby has earlier on denied it.

Top Jokes from All Over

Let's have some fun, okay?

Top Joke-Anywhere

A young man went to his father one day to tell him that
he wanted to get married.

His father was happy for him. He asked his son who the
girl was, and he told him that it was Samantha, a girl from
the neighborhood.

With a sad face the old man said to his son,
''I'm sorry to say this son but I have to. The
girl you want to marry is your sister, but please don't tell your mother.''

The young man again brought three more names to his
father but ended up frustrated because the response was
still the same.

So he decides to go to his mother.
''Mom I want to get married but all the girls that
I love, dad said they are my sisters and I mustn't tell you.''

His mother smiling said to him,
''Don't worry my son, you can marry any of
those girls. You're not his son.

Top Joke in Northern Ireland

A doctor says to his patient, 'I have bad news and worse news'.
'Oh dear, what's the bad news?' asks the patient.
The doctor replies, 'You only have 24 hours to live'..
'That's terrible', said the patient. 'How can the news possibly be worse?'
The doctor replies, 'I've been trying to contact you since yesterday'.

Top Joke in UK

A woman gets on a bus with her baby.
The bus driver says: 'That's the ugliest baby that I've ever seen. Ugh!'
The woman goes to the rear of the bus and sits down, fuming.
She says to a man next to her: 'The driver just insulted me!'
The man says: 'You go right up there and tell him off, go ahead,
I'll hold your monkey for you.

Top Joke in USA

A man and a friend are playing golf one day at the ir local golf course.
One of the guys is about to chip onto the green when he sees a long funeral procession on the road next to the course. He stops in mid-swing, takes off his golf cap, closes his eyes, and bows down in prayer.
His friend says: 'Wow, that is the most thoughtful and touching thing I have ever seen.. You truly are a kind man.'
The man then replies: 'Yeah, well we were married for 35 years.'

Top Joke in Canada

When NASA first started sending up astronauts, they quickly discovered that ballpoint pens would not work in zero gravity. To combat the problem, NASA scientists spent a decade and $12 billion to develop a pen that writes in zero gravity, upside down, underwater, on almost any surface including glass and at temperatures ranging from below freezing to 300 C.

The Russians used a pencil.

Top Joke in England

Two weasels are sitting on a barstool. One starts to insult the other one.
He screams, 'I slept with your mother!'
The bar gets quiet as everyone listens to see what the other weasel will do.
The first again yells, 'I SLEPT WITH YOUR MOTHER!'
The other says, 'Go home dad you're drunk.'