Sapcres GANBATTE-NEH!

This post has been edited by sharesa: Mar 20 2009, 11:33 AM

I think sustainable for a while because many people are dumping US dollars for oil now,
as US is going to purchase at least 1 Trillion US Dollars treasury bonds and mortgage related securities to save their economy.
This might make the US Dollars less attractive .

This post has been edited by sharesa: Mar 20 2009, 12:23 PM

be patient , be patient , heh-heh.... yunno I bought @ what price? 2.50/2.80/3.50.
This share has got no company fundamental problem, that is the relieve. Besides having a good stash 4b worth of cash, its daily operating income is also very much intact. Unfortunately, its being sold at this moment for no apparent reason.
If you think you can hold your money for a while, then, I believe it will be worth waiting. It's worth more than this price.

less shares in market with low price is easier to manipulate

its all a gamble, mate...!

Sapcres mata-ganbatte-ne!

need to add more fuel to fire KLCI

means...back to work....

well...they are just human...ahem

RESORTS

don't forget that Resorts have been buying back a lot of their shares since its peak 2 years back. If I'm not wrong, the shares in their treasuries are @ average price around 3.80, higher price than most of us. (probably now the average price is slightly lower as they started buying back again this recent slump)

Only quoting that they are holding plenty of their own shares bought average price around 3.80.
Wondering what they will do with that. Cancel the shares? Distribute the shares or sell back to market?

I think its better that they cancel/delete their shares as this would reduce the amount of Resorts shares floating in market.

More upside for Resorts Tags: Resorts | Star Curises

Written by Joe Chin
Thursday, 26 March 2009 10:53

KUALA LUMPUR: HwangDBS Vickers Research is maintaining its Buy call on Resorts World at RM2.05 as the market is pricing its resilient gaming business at only 6.9 times 2010 price-to-earnings (ex-cash).

“Our RM2.60 target price is based on 14.2 times 2010 PE (similar to SARS level), supported by RM2.55 sum-of-parts value,” it said in a research note issued on March 26.

The research house said that following its gaming sector report “Emerging Value” on March 24 where it upgraded Resorts to Buy (from Hold), it saw little risk of 19.6%-owned Star Cruises calling for a rights issue now.

HwangDBS Vickers Research said this was due to cancellation of orders for one new vessel (US$1 billion savings) and also minimal amount due for 50% stake in Travellers International (US$50 million).

It added the Newport City (Philippines casino project) was expected to be completed by end of 2009 while Padgor City and Macau projects are still at early development stages, and also NCL's improving net gearing (to 153% from 253%).
“Hence, the implied 60% discount the market ascribed to Resorts’ net cash is excessive, in our view,” it said.

In the research note, it said the 50%-owned NCL was supposed to take delivery of two vessels in 2010. However, based on latest SEC filing, NCL was expecting only one in 2010 worth about US$1 billion versus a total US$2.2b previously.

Specific funding was already in place. Additionally, the balance of US$50 million for its 50% stake in Travellers was only due upon commencement of Newport City casino.

As for the Padgor City and Macau projects, they were still at early stages. Both projects were likely to be developed later rather than sooner, given the on-going financial crisis.

Padgor City (SCL's effective stake: 70%) was still at preliminary stages while the HK$4.7 billion or US$610 million Macau project was awaiting approval to commence construction.

“With the US$1 billion cash injection by Apollo Management in January last year after acquiring a 50% stake in NCL, NCL's net gearing improved to 153% in 3Q08 from 4Q07's 253% (net debt: US$2.4 billion vs US$3.1 billion previously).

“SCL’s 2Q08 net gearing was 28% (net debt: US$545 million), better than 4Q07’s 176% partly due to NCL’s reclassification to jointly controlled entity (net book value: US$729 million),” it said.

I have just heard that very soon our interest rate will be reduced from 2% to 1.5%

It was reported in one of the early news today( "the edge") but can't find the article at this moment.
By the way, what makes you think our economy is good?

slowly but surely will

yeah... its rather strange, tried briefly to look for it but nothing reported for about a year?
Maybe we overlooked somewhere.

FD interest will become even lousier!!!

apa ball tu?