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GoldNugget Elite	25-Jul-2016 12:23        GoldNugget About Contact  Quote this Post!
x 0   x 0  Alert Admin	happyharvest      ( Date: 25-Jul-2016 12:20) Posted: Pls don't add now. Let it drop more before adding. Like that u are supporting the price halleluyah      ( Date: 25-Jul-2016 11:26) Posted: Add some to vote yes....agak lim kopi yun yun better choice lah....
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happyharvest Elite	25-Jul-2016 12:20        happyharvest About Contact  Quote this Post!
x 0   x 0  Alert Admin	Pls don't add now. Let it drop more before adding. Like that u are supporting the price halleluyah      ( Date: 25-Jul-2016 11:26) Posted: Add some to vote yes....agak lim kopi yun yun better choice lah....
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sengsk Elite	25-Jul-2016 11:54        sengsk About Contact  Quote this Post!
x 0   x 0  Alert Admin	Sorry, I' m just making a worse wild guess on Rights Issue. Anyway, no worry. I' m waiting for making a none worry profit of $1,500   GoldNugget      ( Date: 25-Jul-2016 11:44) Posted: paiseh ... waht is this 1 for 1 rights alternative ... is this a specualtion or is there a truth behind it? why would they need to issue rights when sales of train should give them cash inflow to pay down debt and with some cash remaining? sengsk      ( Date: 25-Jul-2016 11:41) Posted: Why worry, if no can force SMRT to increase the price , Isn' t its to our benefit. But I' m very sure, it surely go thru. I just worry that what if not go thru, SMRT did that alternative plan for 1 for 1 Rights Issue at 1.20 and the price will surely drop towards 1.45
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GoldNugget Elite	25-Jul-2016 11:45        GoldNugget About Contact  Quote this Post!
x 0   x 0  Alert Admin	no worries .. forum is for discussion .. so that hopefully we can collectively made a smarter decision.... Siwomp      ( Date: 25-Jul-2016 11:43) Posted: I missed the "Trains" after the smrt. GoldNugget      ( Date: 25-Jul-2016 11:29) Posted: From SMRT website 7. As stated by LTA in its press release issued earlier today, under the NRFF, the licence charge has been structured by LTA to allow SMRT Trains to achieve a composite (fare and non-fare) Earnings before Interest and Taxes (EBIT) margin of about 5%, similar to the margins of comparable asset-light rail operators in other jurisdictions. The licence charge will be implemented through a cap and collar structure (please refer to Paragraph 9 below).  Only affects the Train division. Not clear if Light Rail affected or not .. but light rail is small and money losing ... doesnt matter So train upside capped .. downside not floored ... so this might eat into group profitability next time .... So value of SMRT comes from non rail business going forward ...
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GoldNugget Elite	25-Jul-2016 11:44        GoldNugget About Contact  Quote this Post!
x 0   x 0  Alert Admin	paiseh ... waht is this 1 for 1 rights alternative ... is this a specualtion or is there a truth behind it? why would they need to issue rights when sales of train should give them cash inflow to pay down debt and with some cash remaining? sengsk      ( Date: 25-Jul-2016 11:41) Posted: Why worry, if no can force SMRT to increase the price , Isn' t its to our benefit. But I' m very sure, it surely go thru. I just worry that what if not go thru, SMRT did that alternative plan for 1 for 1 Rights Issue at 1.20 and the price will surely drop towards 1.45 GoldNugget      ( Date: 25-Jul-2016 11:34) Posted: but from the looks of it ... alot of people is going to vote no ....
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Siwomp Supreme	25-Jul-2016 11:43        Siwomp About Contact  Quote this Post!
x 0   x 0  Alert Admin	I missed the "Trains" after the smrt. GoldNugget      ( Date: 25-Jul-2016 11:29) Posted: From SMRT website 7. As stated by LTA in its press release issued earlier today, under the NRFF, the licence charge has been structured by LTA to allow SMRT Trains to achieve a composite (fare and non-fare) Earnings before Interest and Taxes (EBIT) margin of about 5%, similar to the margins of comparable asset-light rail operators in other jurisdictions. The licence charge will be implemented through a cap and collar structure (please refer to Paragraph 9 below).  Only affects the Train division. Not clear if Light Rail affected or not .. but light rail is small and money losing ... doesnt matter So train upside capped .. downside not floored ... so this might eat into group profitability next time .... So value of SMRT comes from non rail business going forward ... Siwomp      ( Date: 25-Jul-2016 11:22) Posted: on smrt website, it says "fare and non fare earning of 5%.......
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sengsk Elite	25-Jul-2016 11:41        sengsk About Contact  Quote this Post!
x 0   x 0  Alert Admin	Why worry, if no can force SMRT to increase the price , Isn' t its to our benefit. But I' m very sure, it surely go thru. I just worry that what if not go thru, SMRT did that alternative plan for 1 for 1 Rights Issue at 1.20 and the price will surely drop towards 1.45 GoldNugget      ( Date: 25-Jul-2016 11:34) Posted: but from the looks of it ... alot of people is going to vote no .... sengsk      ( Date: 25-Jul-2016 11:31) Posted: Yes, Last wk bot at 1.65 Today added 1.645 Too good to earn that no worry of 1.8% profit of capital. Surely vote " YES" for laughing to the Bank....
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GoldNugget Elite	25-Jul-2016 11:34        GoldNugget About Contact  Quote this Post!
x 0   x 0  Alert Admin	but from the looks of it ... alot of people is going to vote no .... sengsk      ( Date: 25-Jul-2016 11:31) Posted: Yes, Last wk bot at 1.65 Today added 1.645 Too good to earn that no worry of 1.8% profit of capital. Surely vote " YES" for laughing to the Bank.... halleluyah      ( Date: 25-Jul-2016 11:26) Posted: Add some to vote yes....agak lim kopi yun yun better choice lah....
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sengsk Elite	25-Jul-2016 11:31        sengsk About Contact  Quote this Post!
x 0   x 0  Alert Admin	Yes, Last wk bot at 1.65 Today added 1.645 Too good to earn that no worry of 1.8% profit of capital. Surely vote " YES" for laughing to the Bank.... halleluyah      ( Date: 25-Jul-2016 11:26) Posted: Add some to vote yes....agak lim kopi yun yun better choice lah....
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GoldNugget Elite	25-Jul-2016 11:29        GoldNugget About Contact  Quote this Post!
x 0   x 0  Alert Admin	From SMRT website 7. As stated by LTA in its press release issued earlier today, under the NRFF, the licence charge has been structured by LTA to allow SMRT Trains to achieve a composite (fare and non-fare) Earnings before Interest and Taxes (EBIT) margin of about 5%, similar to the margins of comparable asset-light rail operators in other jurisdictions. The licence charge will be implemented through a cap and collar structure (please refer to Paragraph 9 below).  Only affects the Train division. Not clear if Light Rail affected or not .. but light rail is small and money losing ... doesnt matter So train upside capped .. downside not floored ... so this might eat into group profitability next time .... So value of SMRT comes from non rail business going forward ... Siwomp      ( Date: 25-Jul-2016 11:22) Posted: on smrt website, it says "fare and non fare earning of 5%......." GoldNugget      ( Date: 25-Jul-2016 11:18) Posted: 5% is on incremental EBIT ... on the rail business. Non rail is not affected ... Non rail contribute more then 80% of the EBIT. Rail buiness in recent year is very cui
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halleluyah Supreme	25-Jul-2016 11:26        halleluyah About Contact  Quote this Post!
x 0   x 0  Alert Admin	Add some to vote yes....agak lim kopi yun yun better choice lah....
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Siwomp Supreme	25-Jul-2016 11:22        Siwomp About Contact  Quote this Post!
x 0   x 0  Alert Admin	on smrt website, it says "fare and non fare earning of 5%......." GoldNugget      ( Date: 25-Jul-2016 11:18) Posted: 5% is on incremental EBIT ... on the rail business. Non rail is not affected ... Non rail contribute more then 80% of the EBIT. Rail buiness in recent year is very cui Siwomp      ( Date: 25-Jul-2016 10:21) Posted: note the 5% profit margin cap is before.taxes and interest...... which makes it even worst
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GoldNugget Elite	25-Jul-2016 11:18        GoldNugget About Contact  Quote this Post!
x 0   x 0  Alert Admin	5% is on incremental EBIT ... on the rail business. Non rail is not affected ... Non rail contribute more then 80% of the EBIT. Rail buiness in recent year is very cui Siwomp      ( Date: 25-Jul-2016 10:21) Posted: note the 5% profit margin cap is before.taxes and interest...... which makes it even worst. Siwomp      ( Date: 25-Jul-2016 10:16) Posted: Its that 5% cap on profit by lta that will drive out the funds that invested in smrt. if your profit is 5%, how much will translate to dividend? therefore, smrt as a dividend play is dead. the only reason to invest in smrt after the asset by back and 5%profit cap is probably the possibility that they spin off their retail biz which should generate some speculation interest. this provided lta give their blessing...... which is unlikely as lta needs to crawl back the est. 2.5billions that they need to invest in maintenance of smrt's current assets.
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Siwomp Supreme	25-Jul-2016 11:18        Siwomp About Contact  Quote this Post!
x 0   x 0  Alert Admin	the asset buy back is almost certainly a done deal, the takeover by temasek is not. imho, TH make the offer is primarily to give retail investors an avenue to exit with reasonable profit or loss. if deal go thru, goid for them and govt as things can be done quitely, if did not go thru, then also not an issue for TH, afterall, smrt is just a small investment for TH.
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GoldNugget Elite	25-Jul-2016 11:12        GoldNugget About Contact  Quote this Post!
x 0   x 0  Alert Admin	ok la.. middle of the 5 year period ... SG people ... as long as get some redpack in the year of the election everything also will forget. PuB already increase price le ... Qanghoo      ( Date: 25-Jul-2016 11:08) Posted: Brother, 1-2 yrs, too close to GE liao ..... GoldNugget      ( Date: 25-Jul-2016 11:02) Posted: Yes they cannot suka suka increase fare ... Thought if lost are made running a service .. They are justified to increase fare ... Anyway I think a fare hike might be in place in 1-2 years after this LTA arrangement and TH buy out even if there is public out cry.
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Qanghoo Supreme	25-Jul-2016 11:08        Qanghoo About Contact  Quote this Post!
x 0   x 0  Alert Admin	Brother, 1-2 yrs, too close to GE liao ..... GoldNugget      ( Date: 25-Jul-2016 11:02) Posted: Yes they cannot suka suka increase fare ... Thought if lost are made running a service .. They are justified to increase fare ... Anyway I think a fare hike might be in place in 1-2 years after this LTA arrangement and TH buy out even if there is public out cry. Qanghoo      ( Date: 25-Jul-2016 10:03) Posted: To be fair,  TH cannot indiscriminately increase fare.  For some yrs now,  bus n MRT fares are governed by a formula under the purview of the Public Transport Council.  But, tell me, since when, from the time of the formation of SBS in 1978, have  fares been allowed to impact profitability?    The idea has always been sold to us that public services must run viably n to do so fares must be kept up to ensure that  operators are able to remain sustainably profitable.    The collapse of the Singapore Traction Co in the early 70s has often been pointed  as a poignant reminder of this (scare mongering?).  So, I  for  one find it a joke to  use uncertainty of fares as a rationale  as a contributory  factor  to  capping the offer px.
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sgng123 Supreme	25-Jul-2016 11:07        sgng123 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Lesson no 1 in investing, never buy in peak market no matter how tempting however u can contra or short on daily basic. Cos the collapse always come after reaching peak, impossible to determine when so contra or short on daily basic strat now. Demostation      ( Date: 25-Jul-2016 10:35) Posted: This is true.  Making money is not that simple, but losing money is not hard.  So that is why, not buying.  Will only trade, i.e close positions within the due dates. Qanghoo      ( Date: 25-Jul-2016 10:22) Posted: I think truth is lots of people suffer heavy losses in this mkt.
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GoldNugget Elite	25-Jul-2016 11:02        GoldNugget About Contact  Quote this Post!
x 0   x 0  Alert Admin	Yes they cannot suka suka increase fare ... Thought if lost are made running a service .. They are justified to increase fare ... Anyway I think a fare hike might be in place in 1-2 years after this LTA arrangement and TH buy out even if there is public out cry. Qanghoo      ( Date: 25-Jul-2016 10:03) Posted: To be fair,  TH cannot indiscriminately increase fare.  For some yrs now,  bus n MRT fares are governed by a formula under the purview of the Public Transport Council.  But, tell me, since when, from the time of the formation of SBS in 1978, have  fares been allowed to impact profitability?    The idea has always been sold to us that public services must run viably n to do so fares must be kept up to ensure that  operators are able to remain sustainably profitable.    The collapse of the Singapore Traction Co in the early 70s has often been pointed  as a poignant reminder of this (scare mongering?).  So, I  for  one find it a joke to  use uncertainty of fares as a rationale  as a contributory  factor  to  capping the offer px.    GoldNugget      ( Date: 24-Jul-2016 22:48) Posted: Thanks for your analysis Do agree TH can increase profitability simply by raising fair .. which i think they have the intention to do so.... if not SG would already have nationalised it instead of privatised it ...... i have a few comments to add to your point ....   1. Why accept a losing deal?  If SMRT' s financial position is even worse off under the NRFF according to all analysts, then why would TH, a savvy investor as the majority shareholder accept the deal? SMRT upside is capped after the NRFF downside is taken my SMRT. Upside taken by LTA. Would like to hear why you think otherwise.  Profit of SMRT in recent 2-3 years is from their non rail which contribute a very huge percentage compared to rail. 4. Defensive business with solid profit and dividend track record  SMRT is a defensive cash cow that has a solid track record of making profits and paying dividends consistently every year even during the worst financial crisis in year 2008-9. divident is good in the past ... at the expense of the problem we are facing now .... hence it is not sustainable   .... recent year divident is in the range of 1.5%   5. Why SMRT share price lagged behind its local and regional peers?  In fact, SMRT share price might be priced even higher than SBS Transit today if there are no frequent train breakdowns and lead by a more competent management?  For information, SBS transit last closing price was $2.50 as at 22Jul16, 1.5 times of SMRT. SBS Transit is a smaller transport operator as compared to SMRT.  SMRT market cap is bigger then SBS by more then 3 times.
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famouspinky Supreme	25-Jul-2016 10:42        famouspinky About Contact  Quote this Post!
x 0   x 0  Alert Admin	Come here doesn't need to buy. JTWKSG      ( Date: 25-Jul-2016 10:15) Posted: Bro, so u don' t buy shares yah? Why come here? lolx Demostation      ( Date: 25-Jul-2016 10:09) Posted: Too risky playing Sg market, any counter also cannot invest. If only for play play, you need a little time and cut loss of $500, before taking a risk.  Mostly cut loss are executed 8 times out of 10 times.  That is why don' t anyhow play play.  Lol.
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Qanghoo Supreme	25-Jul-2016 10:38        Qanghoo About Contact  Quote this Post!
x 0   x 0  Alert Admin	Brother, just look at Ezion, latest example.  Ever since announcement of rights, px has collapsed 30%.  So, in SGX context, " rights" is THE  dirty word we need to be concerned abt.  Demostation      ( Date: 25-Jul-2016 10:35) Posted: This is true.  Making money is not that simple, but losing money is not hard.  So that is why, not buying.  Will only trade, i.e close positions within the due dates. Qanghoo      ( Date: 25-Jul-2016 10:22) Posted: I think truth is lots of people suffer heavy losses in this mkt.
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