Following Evraz’s offer made in Feb 08 to purchase up to 51% of Delong, Evraz and Best Decade (Delong’s majority shareholder) have further agreed to a lock-up deal, which will become effective upon the final closing date of the offer i.e. 18 Aug 08.
SYNOPSIS: Adjusting for weak confidence associated with the residential property sector, we apply a 30% discount to valuation to arrive at target price of $2.10, down from $2.75 previously.
Like it or not, we should be in a recession by now although the US government has yet to officially admit that we are already in one. We know that it is election year and the Republican government would want to paint as beautiful a picture as possible.
Singapore palm oil stocks rose broadly higher as investors bet on the rise of crude palm oil prices (CPO). Indofood Agri (5JS.SG) +1.5% at S$2.07, Golden Agri (G17.SG) +1.8% at S$0.86, Wilmar (F34.SG) +0.7% at S$4.35 vs FTSE ST All Share down 0.4%. As soybean price rose yesterday night, people may be thinking CPO prices could soon recover. Stocks generally still giving oversold signals on technical indicators, but today’
Fortifying its reputation as one of the leading distributors of menswear in Singapore, YGM has over 140 points of sale, including a loyal partnership with leading departmental stores such as Metro, Robinsons, OG, Isetan, Takashimaya and Tangs.
02 Apr 2008 - Homebuilders and the mortgage industry are emerging as big victors in a bipartisan agreement reached by Senate leaders on legislation designed to limit the housing crisis.
The US$15b measure, announced by Majority Leader Harry Reid, D-Nev., and GOP leader Mitch McConnell of Kentucky, contains a US$6b emergency tax break that would let companies use losses from 2008 and 2009 to offset profits earned over the previous four years, instead of the usual two-year timeframe.
03 April 2008 - Fed Chairman Ben Bernanke defended the Federal Reserve’
Investors enjoyed a much needed respite on 24 March after returning from the Easter holidays. Spurred by strong gains on Wall Street as well as bargain hunting, the STI rallied by more than 100 points to close higher at 2,927.79.
Now that all of the Singapore companies have reported the financial results, we are also very clear on how the three local banks have handled the subprime mortgage exposure.
