The government has unveiled the parameters for means testing, which will be implemented in all public hospitals in Jan 09. Means testing is expected to reduce subsidies for the bulk of middle-income Singaporeans and permanent residents in public hospitals.
Trading at $0.69, Babcock and Brown Structured Finance Fund (BB) is currently 34.9% down from its initial public offering (IPO) price and $0.10 below its net asset value (NAV).
Year-to-date, the FTSE ST China Index has fallen 35.3% as compared to 8.2% for the STI. This has pushed the PE of even the high quality S-shares to singledigit valuations. A comeback underpinned by undemanding valuations and decent earnings growth seems quite certain for S-shares.
China Sunsine Chemical Holdings (CSH) was recently selected by Forbes China to be amongst the ‘Best 200 Companies under Rmb1b in 2008′. CSH made it to the list primarily based on its strong earnings record.
Despite the two indices not living up to expectations, we should all be content with the fact that global markets held up well in spite of bad news from the US economic front. At the same time, Fed Chairman Ben Bernanke had finally admitted that the US economy “could already be in a recession”.
SYNOPSIS: We visited Li Heng Chemical Fibre’s (LHCF) plants recently in Changle City, Fujian Province Based on relative valuation, we think a fair price to enter is between $0.65-$0.74.
Notably, Shares Investment (Singapore) enjoys unwavering support from prominent stock broking houses, such as UOBKay Hian, Phillip Securities, Kim Eng Securities and DBS Vickers Securities amongst many others - in all accounting for more than 30,000 readers.
Signifying an indelible mark of business excellence, Mainboard-listed Rotary Engineering (Rotary) was recently conferred the Enterprise Award at the prestigious Singapore Business Awards 2008, organised by The Business Times and DHL.
We are currently in this phase where bad news has been discounted and everybody is waiting for the US Federal Reserve to cut interest rate. Everybody thinks that the US is in a recession and interest rate will have to come down.
