True to form,across the Causeway, Genting Singapore Plc, a unit of Malaysia’s Genting Bhd that operates casinos in the UK and is opening an integrated casino resort in Singapore next year, rose 6.1 per cent to 86.5 Singapore cents. So what is in the works? Is the company going to announce anything big tomorrow or this week-end?
I guess the two local units will start climbing tomorrow as speculators work overtime to spread sufficiently juicy rumours on both sides of the Causeway.
JP Morgan Chase & Co which covered Genting Singapore Plc, gives it a thumbs-up;an “overweight” rating with the share-price rising to S$1.20. So there is still more upside yet for this stock. Watch the prices of Genting M and Genting Berhad. They are surely due for a re-rating soon.
Postscript: Today(12 Aug), Genting Berhad tumbled 16 sen while Genting Malaysia dropped 7 sen. Let us see whether the price will jumped up in a V fashion the next two days.
August 11, 2009
Clearer picture on English for Teaching Science and Maths
The teaching and learning of Science and Mathematics in English will be scrapped in stages from 2012 starting with Year 1, Year 4, Form 1 and Form 4, Education Director-General Alimuddin Mohd Dom said.
Form Six and matriculation would not be involved in the scrapping of the policy, he added.
“As a ‘soft landing’ mechanism, the teaching and learning of both subjects will be carried out in two languages either in English and Bahasa Malaysia or Chinese or Tamil from 2010.
“The teaching and learning of Science and Mathematics for Year 4 in 2012, 2013 and 2014 and Year 5 in 2013, 2014 and 2015 and Year 6 in 2014, 2015 and 2016 will be conducted in two languages,” he told reporters after meeting Deputy Prime Minister Muhyiddin Yassin who is also Education Minister, here today.
In line with this, he said, Science and Mathematics examinations would be carried out in two languages until 2016.
Both subjects would be taught in two languages in Form 4 in 2012, 2013 and 2014 and Form 5 in 2013, 2014 and 2015, he said.
The Sijil Pelajaran Malaysia examinations for both subjects would be carried out in two languages until 2015, he said.
Form Six and matriculation would not be involved in the scrapping of the policy, he added.
“As a ‘soft landing’ mechanism, the teaching and learning of both subjects will be carried out in two languages either in English and Bahasa Malaysia or Chinese or Tamil from 2010.
“The teaching and learning of Science and Mathematics for Year 4 in 2012, 2013 and 2014 and Year 5 in 2013, 2014 and 2015 and Year 6 in 2014, 2015 and 2016 will be conducted in two languages,” he told reporters after meeting Deputy Prime Minister Muhyiddin Yassin who is also Education Minister, here today.
In line with this, he said, Science and Mathematics examinations would be carried out in two languages until 2016.
Both subjects would be taught in two languages in Form 4 in 2012, 2013 and 2014 and Form 5 in 2013, 2014 and 2015, he said.
The Sijil Pelajaran Malaysia examinations for both subjects would be carried out in two languages until 2015, he said.
Labels:
English
Good Fun Joke Here!
What a joke!
Enjoy!
Two men are out just fishing quietly and drinking beer.
Almost silently, so as not to scare the fish, Jim says, 'I think I'm gonna divorce my wife.She hasn't spoken to me in over 2 months.'
Earl continues slowly sipping his beer then thoughtfully says,'You better think it over, Jim. Women like that are hard to find.'
Enjoy!
Two men are out just fishing quietly and drinking beer.
Almost silently, so as not to scare the fish, Jim says, 'I think I'm gonna divorce my wife.She hasn't spoken to me in over 2 months.'
Earl continues slowly sipping his beer then thoughtfully says,'You better think it over, Jim. Women like that are hard to find.'
Labels:
Perspectives
More Investment Banks Supports RCE
Analysts are positive on the prospects of RCE CAPITAL BHD [RCECAP 0.730 0.055 (8.148%)] which posted a net profit of RM18.5 million on the back of RM67 million in revenue for its first financial quarter of FY10 (1QFY10). Compared to the corresponding period a year ago, net profits soared by 36% while revenue increased by 42.2%.
According to Kenanga Research, the better showing was due to a growth in net loan receivables of 33%, lower finance costs, strong lending activities, as well as a 7.6 times increase in revenue contribution from the investment holding and management services division.
RCE Capital’s doubtful debt provision meanwhile was lowered by 26% to RM5.4 million due to improved recovery process, Kenanga added.
Quarter-on-quarter (q-o-q), 1QFY10 net profit remained stable, with marginal 0.1% growth, while revenue rose by 15.5% due to sustained demand for cooperative credit. However, this was offset by higher operating expenses and marketing costs (up 26%) resulting in pre-tax profit increasing by only 1.6%.
Nevertheless Kenanga added: “We believe the company’s loan repayment collection via direct salary deduction presents minimal default risk.”
Kenanga estimated a net profit growth of 15% for FY10 based on the assumption of 22% net loan growth.
“Prospects for the company remain positive as consumer demand for loan financing from cooperatives remains resilient,” said Kenanga which had a buy call on RCE Capital’s stock and a target price of 90 sen, a 39% premium to its close last Friday of 64.5 sen.
Meanwhile, Maybank Investment Bank (Maybank IB) said that RCE Capital’s net loan grew 5.1% q-o-q to touch RM1 billion, which is a remarkable 17.5% compound quarterly growth since 2QFY06.
However, it lowered its earnings per share (EPS) forecasts by 4%-8% to account for a dilutive impact of a private placement of 71.1 million new shares. The new shares, which started trading yesterday, increased RCE Capital’s share capital to 782.1 million shares. The private placement exercise raised RM39 million in cash (55 sen per share) for working capital purposes.
Maybank IB said that allowances for doubtful debts shrank 26% year-on-year, but was stable as a percentage of gross loans at an estimated 7%, adding that net non-performing loans ratio should remain below 3%.
“We maintain our 15% FY10 net loan growth assumption, suggesting RM1.09 billion in net loans by March 2010. However, this forecast now looks conservative given 1Q loan growth,” Maybank IB noted.
“We continue to favour RCE as a mid-cap exposure to a growing consumer loans segment at attractive PER (price-earnings ratio) valuations. Loan repayments are via compulsory salary deductions, implying low default risk,” Maybank IB said.
Maybank IB retained its buy call on RCE with an unchanged target price of 85 sen, based on eight times 2010 PER. “RCE continues to offer value, trading at 5.9 times 2010 PER and a high 22% ROE (return on equity).”
Labels:
Stocks
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