hi guys,

gotta rush my projects, so I juz give u a brief round up.

some takes:

SGX xd tomorrow 29 cts. Upside expected

Australia cut rates 100 bps. First of the big global cuts. Others expect to follow tonite

tantallon capital liquidated a hedge fund, look out for their holdings that will be affected. have any idea?

FOMC tonight.

SG - KL airlines competition getting intense with tiger, jetstar, malaysian air, silk. price competition will bring ur travel fairs down but we might see sia building up a new base on the lower tier segment.

singtel having head freeze and rising their fixed line rates. an indication of future weakness in the economy to come.

bailout is not addressing the problem of exess leverage which happens to be the credit issue causing this down spiral. pumping of money into the system actually encourages more speculation to go on. point to note, debt size 51 trillion, CDS 62 trillion, deriavative notional value 1400 trillion.

strength of forex ranking from yen to usd to emerging markets. with the risk of fed rate cuts expected at 50bp and considering inter bank rates are already cut, yen pose as a lower risk choice.

ubs estimating a 0% loan growth for banks in 2009, take note, a pressure point. ocbc currently trading closest to bv.

raffles edu technical tg 20c, considering they raise funds in market for JV, there low price will cause an impact on their growth. worst, dividend may not be feasible with cash flow issues going forward.

crude breakeven for rigs stand estimated at 85, as crude weakness closer to breakeven, you will c rig projects getting cancelled. currently 60% orders in rigs have already been contracted out, consider the impact if cancelling sets in due to -ve yield.

bidding war for city neon hitting to 60c giving a 14x pe, a peer like kingsmen with similar buz @ 8x, attractive?

sti technical target 2105, if broken nx projection extended to 1800 and 1660.

k, enjoy.


Heiwa