OCBC Bank    Last:23.5    +0.16

ocbc buyers fight back from the shortists

以 下 是 关 于 City Developments Limited（ 城 市 发 展 有 限 公 司 ） 可 能 在 2026年 股 价 达 到 新 加 坡 币 9元 的 分 析 ， 涵 盖 其 投 资 特 色 、 接 触 点 、 价 值 点 、 痛 点 、 挑 战 与 解 决 方 案 ， 内 容 以 中 文 呈 现 ：

 

📈 为 什 么 CityDev可 能 在 2026年 达 到 SGD 9？

根 据 最 新 分 析 师 报 告 ， CityDev的 目 标 股 价 已 被 多 家 机 构 上 调 至 SGD 9.00， 其 中 包 括 DBS和 Phillip Securities 1。 主 要 原 因 包 括 ：

强 劲 的 住 宅 销 售 ： 新 加 坡 本 地 项 目 销 售 表 现 优 异 。

资 产 剥 离 策 略 成 功 ： 通 过 出 售 非 核 心 资 产 改 善 财 务 状 况 2。

酒 店 业 务 复 苏 ： 随 着 全 球 旅 游 恢 复 ， 旗 下 酒 店 业 务 盈 利 能 力 增 强 。

绿 色 与 可 持 续 发 展 战 略 ： 获 得 国 际 认 可 ， 吸 引 ESG投 资 者 。

土 地 储 备 充 足 ： 拥 有 新 加 坡 最 大 私 人 土 地 储 备 之 一 ， 为 未 来 开 发 提 供 保 障 3。

 

🌟 投 资 特 色 （ Features）

多 元 化 业 务 ： 涵 盖 住 宅 、 商 业 、 酒 店 、 投 资 物 业 。

全 球 布 局 ： 业 务 遍 布 20个 国 家 ， 80多 个 地 点 。

可 持 续 发 展 领 导 者 ： 是 首 家 入 选 全 球 三 大 可 持 续 指 数 的 新 加 坡 公 司 。

强 大 的 母 公 司 支 持 ： 隶 属 于 丰 隆 集 团 （ Hong Leong Group） 。

 

📍 接 触 点 （ Touchpoints）

投 资 者 关 系 网 站 与 年 报

项 目 展 示 中 心 与 销 售 画 册

社 交 媒 体 与 新 闻 发 布

可 持 续 发 展 报 告 与 ESG评 级

 

💎 价 值 点 （ Gainpoints）

资 本 增 值 潜 力 ： 目 标 价 上 调 至 SGD 9， 具 备 约 30%上 涨 空 间 。

稳 定 股 息 ： 长 期 提 供 稳 定 回 报 。

资 产 重 估 空 间 ： 旗 下 酒 店 与 商 业 资 产 价 值 有 提 升 空 间 。

绿 色 建 筑 溢 价 ： 可 持 续 项 目 更 受 市 场 欢 迎 。

 

⚠ ️ 痛 点 （ Painpoints）

房 地 产 周 期 波 动 ： 受 利 率 与 政 策 影 响 大 。

负 债 水 平 偏 高 ： 过 去 几 年 扩 张 导 致 财 务 杠 杆 上 升 。

海 外 市 场 风 险 ： 如 中 国 市 场 的 不 确 定 性 。

资 产 价 值 波 动 ： 尤 其 在 经 济 不 确 定 时 期 3。

 

🚧 挑 战 （ Challenges）

利 率 上 升 ： 增 加 融 资 成 本 。

监 管 收 紧 ： 新 加 坡 房 地 产 政 策 趋 严 。

全 球 经 济 不 确 定 性 ： 影 响 海 外 项 目 表 现 。

资 产 剥 离 后 的 增 长 动 力 ： 如 何 维 持 盈 利 增 长 。

 

🛠 ️ 解 决 方 案 （ Solutions）

积 极 资 产 管 理 ： 出 售 非 核 心 资 产 ， 优 化 资 产 组 合 。

加 强 现 金 流 管 理 ： 控 制 成 本 ， 提 升 运 营 效 率 。

拓 展 绿 色 项 目 ： 吸 引 ESG资 金 ， 提 升 品 牌 价 值 。

战 略 性 海 外 扩 张 ： 聚 焦 中 国 与 其 他 高 增 长 市 场 。

技 术 创 新 ： 如 AI辅 助 估 值 与 交 易 流 程 优 化 2。

 

 

下 大 暴 雨 还 是 大 热 天
在 最 近 香 港 受 到 超 强 台 风 ?Ragasa?袭 击 后 ， 股 市 出 现 了 短 期 的 抛 售 潮 ， 许 多 优 质 蓝 筹 股 如 中 国 平 安 、 恒 基 地 产 、 恒 隆 集 团 、 港 铁 公 司 、 长 江 实 业 等 股 价 下 跌 。 对 于 长 期 投 资 者 而 言 ， 这 种 市 场 动 荡 反 而 可 能 是 一 个 逢 低 吸 纳 的 良 机 。 以 下 是 详 细 的 中 文 分 析 ：

 

🌪 ️ 台 风 引 发 的 市 场 抛 售 背 景

超 强 台 风 ?Ragasa?袭 港 ， 风 速 高 达 220公 里 /小 时 ， 造 成 大 规 模 停 工 停 市 。

超 过 700班 航 班 取 消 ， 商 场 关 闭 ， 市 民 抢 购 物 资 ， 社 会 陷 入 短 暂 混 乱 。

虽 然 港 交 所 仍 维 持 开 放 ， 但 市 场 情 绪 受 到 严 重 打 击 ， 导 致 股 市 出 现 恐 慌 性 抛 售 。

 

📉 为 什 么 这 时 候 买 入 香 港 蓝 筹 股 是 明 智 的 ？

1. 短 期 恐 慌 vs 长 期 价 值

自 然 灾 害 通 常 只 会 造 成 短 期 市 场 波 动 ， 而 不 会 改 变 企 业 的 长 期 基 本 面 。

蓝 筹 股 的 业 务 稳 健 ， 抗 风 险 能 力 强 ， 股 价 下 跌 往 往 是 情 绪 驱 动 ， 不 是 基 本 面 恶 化 。

2. 估 值 吸 引 ， 逢 低 买 入

台 风 导 致 的 抛 售 使 得 一 些 优 质 企 业 的 股 价 跌 至 低 估 水 平 ， 提 供 了 ?打 折 ?买 入 的 机 会 。

例 如 ： 恒 基 地 产 和 恒 隆 集 团 拥 有 大 量 优 质 土 地 储 备 ， 资 产 价 值 远 高 于 当 前 市 值 。

3. 稳 定 的 股 息 收 益

香 港 蓝 筹 股 普 遍 具 有 稳 定 的 分 红 政 策 ， 如 港 铁 、 长 江 实 业 等 ， 适 合 追 求 现 金 流 的 投 资 者 。

在 股 价 下 跌 时 买 入 ， 股 息 收 益 率 反 而 更 高 。

4. 中 国 经 济 复 苏 的 受 益 者

中 国 平 安 、 恒 隆 集 团 等 企 业 在 中 国 大 陆 有 大 量 业 务 布 局 ， 能 直 接 受 益 于 中 国 经 济 的 复 苏 。

投 资 这 些 公 司 也 是 间 接 参 与 中 国 增 长 的 方 式 。

5. 行 业 龙 头 ， 抗 风 险 能 力 强

港 铁 是 香 港 公 共 交 通 的 垄 断 运 营 商 ， 现 金 流 稳 定 。

长 江 实 业 是 李 嘉 诚 家 族 旗 下 的 旗 舰 企 业 ， 资 产 遍 布 全 球 ， 抗 风 险 能 力 极 强 。

中 国 平 安 是 中 国 最 大 的 保 险 公 司 之 一 ， 科 技 金 融 发 展 领 先 。

 

🧠 投 资 策 略 建 议

分 批 买 入 ： 利 用 成 本 平 均 法 ， 在 市 场 波 动 中 逐 步 建 仓 ， 降 低 风 险 。

关 注 基 本 面 ： 选 择 资 产 负 债 表 健 康 、 现 金 流 稳 定 、 估 值 合 理 的 企 业 。

长 期 持 有 ： 忽 略 短 期 波 动 ， 专 注 于 企 业 的 长 期 成 长 与 分 红 回 报 。

 

 

Buying Hong Kong blue-chip stocks like Ping An, Henderson Land, Hang Lung Group, MTR, and Cheung Kong during the recent typhoon-induced selloff can be a strategic move for long-term investors. Here's why:

 

🌪 ️ Context: Super Typhoon Ragasa's Impact

Super Typhoon Ragasa, the strongest tropical cyclone of 2025, hit Hong Kong with winds up to 220 km/h, causing widespread shutdowns 1 2.

Over 700 flights were cancelled, businesses closed, and panic buying surged 1.

Despite the chaos, Hong Kong?s stock exchange remained open, but investor sentiment was shaken, leading to a temporary market selloff 2.

 

📉 Why the Selloff Creates Opportunity

Typhoons and other natural disasters often trigger short-term panic selling, especially in sectors like property, transport, and insurance. However, these events rarely affect the long-term fundamentals of blue-chip companies.

 

💡 Reasons to Buy HK Blue Chips During the Dip

1. Strong Fundamentals & Resilience

HK blue chips are financially sound, with strong balance sheets and consistent earnings 1 2.

Companies like MTR and Cheung Kong have diversified operations and proven crisis management capabilities.

2. Attractive Valuations

The selloff may have pushed prices below intrinsic value, offering a rare chance to buy quality stocks at a discount 1.

3. Dividend Income

Many HK blue chips offer stable and growing dividends, making them ideal for income-focused investors 1.

4. Exposure to China?s Growth

Firms like Ping An and Hang Lung Group benefit from their deep ties to mainland China, giving investors indirect exposure to its economic recovery 3.

5. Diversification & Global Reach

These companies often operate across Asia-Pacific and globally, reducing reliance on any single market 3.

6. Sector Strengths

Henderson Land and Hang Lung are leaders in property development.

MTR is a monopoly in public transport with stable cash flows.

Ping An is one of China?s largest insurers, with tech-driven growth.

 

🧠 Strategic Takeaway

Buying during a typhoon-induced dip is a contrarian strategy?you?re investing when others are fearful. If your goal is long-term capital appreciation and dividend income, this could be a smart entry point.

 

 

✅ 1. 新 加 坡 三 大 银 行 正 吸 引 大 量 机 构 资 金 流 入

星 展 （ DBS） 、 华 侨 银 行 （ OCBC） 、 大 华 银 行 （ UOB） 在 2024年 截 至 5月 ， 合 计 录 得 5亿 新 元 的 机 构 净 流 入 ， 扭 转 了 2023年 25亿 新 元 的 资 金 外 流 。

这 三 家 银 行 目 前 占 海 峡 时 报 指 数 （ STI） 权 重 的 51%， 截 至 2024年 5月 ， 平 均 总 回 报 率 约 16%。

股 息 收 益 率 依 然 吸 引 人 ： DBS约 5.3%， UOB约 5.6%， OCBC约 5.7%， 并 且 基 本 面 强 劲 ， 净 资 产 收 益 率 （ ROE） 维 持 在 **12%?17%**之 间 。

 

✅ 2. 为 什 么 资 金 可 能 从 香 港 蓝 筹 股 转 向 新 加 坡

香 港 蓝 筹 股 因 中 国 经 济 放 缓 和 监 管 不 确 定 性 ， 估 值 持 续 承 压 。

相 比 之 下 ， 新 加 坡 市 场 具 备 稳 定 性 、 良 好 治 理 和 高 股 息 回 报 ， 成 为 机 构 资 金 的 避 风 港 。

新 交 所 （ SGX） 甚 至 推 出 了 香 港 蓝 筹 股 的 新 加 坡 存 托 凭 证 （ SDR） ， 如 腾 讯 、 阿 里 巴 巴 、 比 亚 迪 、 汇 丰 、 平 安 等 ， 以 吸 引 跨 境 投 资 ， 但 这 主 要 面 向 零 售 投 资 者 ， 而 非 机 构 资 金 大 规 模 调 仓 。

 

✅ 3. 新 加 坡 三 大 银 行 ： 仍 具 吸 引 力 ， 但 增 长 空 间 有 限

DBS： 2024财 年 净 利 润 114亿 新 元 （ +11%） ， ROE达 18%。

OCBC： 净 利 润 75.9亿 新 元 （ +8%） ， 财 富 管 理 业 务 增 长 强 劲 。

UOB： 净 利 润 60亿 新 元 （ +6%） ， 并 宣 布 30亿 新 元 资 本 回 馈 计 划 。

股 息 收 益 率 维 持 在 5%?6%， 但 分 析 师 指 出 ， 由 于 市 值 庞 大 、 盈 利 稳 定 ， 股 价 上 行 空 间 可 能 有 限 。

 

这 对 你 意 味 着 什 么 ？

如 果 新 加 坡 最 大 基 金 管 理 公 司 确 实 从 香 港 蓝 筹 股 撤 资 ， 最 可 能 的 受 益 者 就 是 DBS、 OCBC和 UOB， 因 为 它 们 具 备 流 动 性 、 稳 定 性 和 高 股 息 吸 引 力 。

这 一 趋 势 可 能 在 短 期 内 支 撑 银 行 股 价 ， 尤 其 是 在 全 球 不 确 定 性 持 续 的 情 况 下 。

 

👉

 

以 下 是 关 于 OpenAI、 DeepSeek（ 中 国 深 度 求 索 ） 以 及 中 国 版 ChatGPT（ 如 百 度 文 心 一 言 、 腾 讯 混 元 、 01.AI等 ） 所 需 芯 片 的 中 文 简 明 对 比 说 明 ：

 

1. OpenAI（ GPT-4等 ）

训 练 阶 段 ：
需 要 成 千 上 万 颗 高 端 NVIDIA显 卡 （ 如 A100、 H100等 ） 。

GPT-4据 传 使 用 了 超 过 2.5万 颗 NVIDIA A100进 行 训 练 。

本 地 推 理 （ 运 行 ） ：
小 型 开 源 模 型 （ 如 20B参 数 ） ： 16GB以 上 显 存 的 显 卡 （ 如 RTX 4060 Ti 16GB、 RTX 3090、 RTX 4090） ， 或 苹 果 M1/M2/M3芯 片 （ 16GB以 上 内 存 ） 。

大 型 模 型 （ 如 120B参 数 ） ： 需 要 80GB以 上 显 存 的 专 业 显 卡 （ 如 A100、 H100等 ） 。

 

2. 中 国 DeepSeek（ 深 度 求 索 ）

训 练 阶 段 ：
最 大 的 DeepSeek R1（ 671B参 数 ） 使 用 了 2048颗 NVIDIA H800（ A100的 中 国 特 供 版 ， 因 美 国 出 口 管 制 ） 。

许 多 中 国 实 验 室 在 管 制 前 囤 积 了 大 量 A100， 并 采 用 多 GPU集 群 （ 如 1万 颗 A100） 。

本 地 推 理 （ 运 行 ） ：
小 模 型 （ 1.5B参 数 ） ： 普 通 CPU、 8GB内 存 即 可 。

7B-8B模 型 ： 8GB显 存 以 上 的 显 卡 （ 如 RTX 3070） 。

14B-32B模 型 ： 12-24GB显 存 显 卡 （ 如 RTX 3080、 RTX 4090） 。

70B-671B模 型 ： 需 要 多 卡 服 务 器 （ 每 卡 48GB显 存 ， 或 10-20张 A6000、 3090等 ） 。

 

3. 中 国 版 ChatGPT（ 百 度 文 心 一 言 、 腾 讯 混 元 、 01.AI等 ）

训 练 芯 片 ：
主 要 使 用 NVIDIA A100、 H800、 H20等 （ H800/H20为 中 国 特 供 版 ， 性 能 略 低 于 A100/H100） 。

部 分 公 司 采 用 华 为 昇 腾 （ Ascend） AI芯 片 作 为 替 代 。

还 有 部 分 公 司 通 过 海 外 云 服 务 租 用 GPU算 力 。

应 对 限 制 ：
中 国 公 司 大 量 囤 积 受 限 芯 片 ， 或 优 化 模 型 算 法 以 适 应 较 低 算 力 。

新 一 代 模 型 （ 如 01.AI的 Yi-Lightning） 通 过 高 效 算 法 和 高 质 量 小 数 据 集 ， 减 少 芯 片 需 求 。

 

对 比 总 结 表

 
 
 
 

 

要 点 总 结

OpenAI和 中 国 顶 级 实 验 室 都 依 赖 NVIDIA高 端 数 据 中 心 显 卡 进 行 训 练 ， 但 中 国 因 出 口 管 制 主 要 用 H800/H20等 ?特 供 版 ?。

本 地 运 行 小 模 型 时 ， 普 通 高 端 消 费 级 显 卡 即 可 ， 大 模 型 则 需 多 卡 服 务 器 。

中 国 公 司 正 通 过 算 法 优 化 、 国 产 芯 片 和 云 算 力 等 多 种 方 式 应 对 芯 片 限 制 。

 

如 果 你 想 了 解 某 个 具 体 模 型 的 详 细 硬 件 需 求 ， 或 者 想 知 道 训 练 和 推 理 的 区 别 ， 可 以 随 时 告 诉 我 ！

 

：


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丰 隆 金 融 （ Hong Leong Finance） 分 析

📊 估 值 与 财 务 状 况

市 净 率 (P/B Ratio)： 0.56
→ 说 明 股 价 远 低 于 其 账 面 价 值 ， 市 场 对 它 的 估 值 比 较 保 守 ， 但 也 意 味 着 可 能 有 低 估 的 机 会 。

股 息 率 (Dividend Yield)： 约 4.9%（ 5年 平 均 5.2%）
→ 长 期 维 持 稳 定 的 分 红 ， 算 是 股 息 股 ， 对 寻 求 稳 定 现 金 流 的 投 资 者 有 吸 引 力 。

债 务 (Debt)： SGD 107万 （ 非 常 低 ）
→ 负 债 水 平 极 低 ， 财 务 非 常 稳 健 。

现 金 (Cash)： SGD 9.4亿 （ 非 常 高 ）
→ 现 金 储 备 雄 厚 ， 流 动 性 强 ， 能 抵 御 经 济 下 行 风 险 。



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📈 风 险 管 理 指 标

不 良 贷 款 率 (NPL Ratio)： 0.5%
→ 贷 款 质 量 非 常 好 ， 坏 账 风 险 极 低 。

资 本 充 足 率 (CAR)： 16.3%
→ 高 于 监 管 要 求 ， 说 明 资 本 非 常 稳 健 。



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👥 股 东 结 构

内 部 持 股 (Insider Ownership)： 61.98%
→ 大 股 东 和 管 理 层 持 股 高 ， 利 益 和 小 股 东 较 为 一 致 ， 但 也 意 味 着 流 通 股 不 多 。



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⚠ ️ 主 要 风 险

增 长 放 缓 ： 传 统 融 资 业 务 面 临 市 场 竞 争 与 利 差 收 窄 。

高 派 息 ： 长 期 高 分 红 可 能 影 响 再 投 资 和 扩 张 。

接 班 问 题 ： 家 族 企 业 可 能 面 临 管 理 层 传 承 挑 战 。



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🔑 投 资 要 点

价 值 股 (Value)： 低 市 净 率 ， 安 全 边 际 高 。

股 息 股 (Yield)： 稳 定 派 息 ， 适 合 偏 好 现 金 流 的 投 资 者 。

中 小 企 业 贷 款 (SME)： 业 务 核 心 是 支 持 新 加 坡 中 小 企 业 融 资 。



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总 结 ：
丰 隆 金 融 是 一 家 财 务 非 常 稳 健 、 现 金 充 足 、 不 良 贷 款 率 极 低 的 金 融 机 构 。 它 适 合 追 求 稳 定 分 红 和 安 全 性 的 投 资 者 。 不 过 ， 要 注 意 增 长 动 力 不 足 和 家 族 企 业 的 传 承 问 题 。


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a possible geo-economic alignment among Asian partners around the Shanghai Cooperation Organization (SCO) ? essentially building a self-sufficient ecosystem that reduces dependence on the U.S. and avoids U.S. tariff risks. Let me structure your idea more clearly in terms of roles, touch points, pain points, gain points, challenges, and solutions:


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Roles & Contributions

India → abundant labor, growing consumer base, IT/software services.

Russia → advanced military technology, nuclear protection, energy resources.

Indonesia → major commodities (nickel, coal, palm oil, copper, etc.).

Malaysia → commodities (palm oil, LNG, rubber, tin, electronics supply chain).

China → capital, infrastructure investment, manufacturing scale, largest consumer market.

Others in SCO/ASEAN → provide logistics hubs, regional trade corridors, natural resources.



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Touch Points (Synergies)

1. Energy + Security Backbone → Russia ensures energy supply and defense security.


2. Resource & Commodity Flow → Indonesia/Malaysia ensure raw materials supply to feed China?s and India?s industries.


3. Labor + Services → India supplies skilled and semi-skilled manpower, plus IT outsourcing.


4. Capital & Market Access → China invests in infrastructure and provides consumer demand.


5. Regional Trade Network → SCO + ASEAN build alternative trade corridors bypassing U.S. tariffs.




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Pain Points (Risks)

Geopolitical Pressure: U.S. and EU sanctions or restrictions on countries aligning too closely with Russia/China.

Trust Deficit: Historical tensions between India and China balancing national interests.

Currency & Payment Systems: Heavy reliance on USD still poses vulnerability.

Technology Gap: Russia strong in military/space, but weaker in consumer tech vs. U.S./Europe.

Infrastructure Bottlenecks: Ports, logistics, rail connectivity across Asia not fully integrated.



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Gain Points (Benefits)

Tariff Bypass: Reduced reliance on U.S./EU markets, less vulnerability to tariff shocks.

Strategic Autonomy: More control over supply chains, technology, capital flows.

Market Scale: Combined SCO/ASEAN population >3.5 billion, a massive internal market.

Resource Security: Commodity producers ensure raw material supply for industrial growth.

Defense Shield: Russia?s nuclear & military backing deters external pressure.



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Challenges

Aligning diverse political systems (democracy in India vs. one-party China vs. Russian governance).

Avoiding over-reliance on one partner (e.g., China as capital provider).

Managing currency fluctuations and establishing alternatives to the U.S. dollar.

U.S./EU counter-measures: secondary sanctions, tech export bans, financial exclusion.



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Solutions / Path Forward

1. Common Payment Systems → expand yuan/ruble/rupee settlements, cross-border digital currency trials.


2. Joint Infrastructure Projects → Belt & Road + India-ASEAN corridors integrated for efficiency.


3. Technology Sharing → Russia provides defense/space tech China provides industrial/manufacturing know-how India provides IT/software.


4. Commodity-for-Capital Swaps → Indonesia/Malaysia trade commodities directly for Chinese investment/technology.


5. Regional Institutions → strengthen SCO/ASEAN+ frameworks to act as a buffer against external economic coercion.




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👉

 

Here are the details you requested about Golden Agri-Resources Ltd. (SGX: E5H):   📅 SGX Listing Date Golden Agri-Resources Ltd. was listed on the Singapore Exchange Mainboard on 9 July 1999.   💰 Listing Price At the time of its IPO in 1999, the listing price was approximately SGD 0.30 per share 1.   🏢 Who Controls Golden Agri-Resources The company is controlled by the Widjaja Family through the Widjaja Family Master Trust (WFMT). As of March 2025, the trust holds a 50.56% stake in Golden Agri via its investment vehicles: Flambo International Ltd Ascent Wealth Investment Ltd Massingham International Ltd Golden Moment Ltd 2. This gives the Widjaja family effective majority control over the company.

chartistkaohz      ( Date: 22-Sep-2025 08:15) Posted: Here?s a breakdown of the situation and its ripple effects:   1. What Happened in the U.S.? The U.S. has imposed a $100,000 annual fee on H-1B visa applications, effective immediately (with just a one-day compliance window). This is a 20x increase from the previous $2,000?$5,000 range12. The move is part of a broader immigration crackdown, aiming to overhaul temporary employment visas. It directly impacts Indian IT firms that rely on H-1B visas to send skilled professionals onsite for U.S. projects1.   2. Impact on Indian IT Services Firms Cost Surge & Disruption: Indian IT companies like TCS, Infosys, Wipro, and HCL face sharp cost increases and disruption in ongoing U.S. projects requiring onsite staff2. Reduced H-1B Dependence: Even before this policy, Indian IT firms had cut H-1B sponsorships by ~46% (FY2021?FY2025) due to rising costs and complex rules. They?ve shifted toward: Local hiring in the U.S. Nearshore hubs in Latin America Automation and remote delivery models34. Strategic Vulnerability: These firms earn ~57% of revenue from the U.S. market, so any disruption hits their largest client base hard5.   3. U.S. Tech Firms? Reliance on Indian Talent U.S. tech giants (Amazon, Microsoft, Google, Meta) remain heavily dependent on Indian engineers, especially for AI, cloud, and cybersecurity roles. Amazon alone had ~10,000 H-1B approvals in FY2025, while TCS had 5,505. U.S. firms are absorbing the higher costs because they need specialized talent3.   4. How This Affects Southeast Asia Talent Diversion to Asia: Stricter U.S. immigration policies are causing a reverse brain drain, with talent moving to Asia instead of the U.S. Singapore, for example, has tripled student and skilled worker applications by easing work permit rules and raising employment age limits6. Regional Opportunity: Singapore, Malaysia, and the Philippines could attract displaced Indian IT talent and U.S. firms looking for alternative hubs. Southeast Asia may see growth in nearshore delivery centers, especially for cloud and AI services. Risk for U.S. Tech Dominance: If talent shifts to Asia, U.S. firms might expand R&D in Singapore or India, reducing reliance on U.S.-based teams6.   ✅ Bottom Line: Indian IT firms face higher costs and operational uncertainty, accelerating their pivot to local hiring and automation. U.S. tech firms will likely absorb costs but explore offshore options. Southeast Asia stands to gain as a talent and delivery hub, especially Singapore, which is actively positioning itself as a safe haven for global tech talent.   chartistkaohz      ( Date: 19-Sep-2025 11:09) Posted: As of now, there is no finalized TikTok deal between Xi Jinping and Donald Trump. The two leaders were scheduled to speak on September 19, 2025, about a framework agreement that would shift control of TikTok?s U.S. operations from ByteDance to a consortium of American investors, including Oracle, Andreessen Horowitz, and Silver Lake. However, the details remain unannounced, and Trump has signaled that the outcome depends on Xi?s response during the call. If Xi does not meet U.S. expectations?especially regarding TikTok?s algorithm?Trump may still proceed with a ban threat1. Wkeep monitor there will be no deal on tik too between us and china like the previous Huawei event

 

Here?s a breakdown of the situation and its ripple effects:   1. What Happened in the U.S.? The U.S. has imposed a $100,000 annual fee on H-1B visa applications, effective immediately (with just a one-day compliance window). This is a 20x increase from the previous $2,000?$5,000 range12. The move is part of a broader immigration crackdown, aiming to overhaul temporary employment visas. It directly impacts Indian IT firms that rely on H-1B visas to send skilled professionals onsite for U.S. projects1.   2. Impact on Indian IT Services Firms Cost Surge & Disruption: Indian IT companies like TCS, Infosys, Wipro, and HCL face sharp cost increases and disruption in ongoing U.S. projects requiring onsite staff2. Reduced H-1B Dependence: Even before this policy, Indian IT firms had cut H-1B sponsorships by ~46% (FY2021?FY2025) due to rising costs and complex rules. They?ve shifted toward: Local hiring in the U.S. Nearshore hubs in Latin America Automation and remote delivery models34. Strategic Vulnerability: These firms earn ~57% of revenue from the U.S. market, so any disruption hits their largest client base hard5.   3. U.S. Tech Firms? Reliance on Indian Talent U.S. tech giants (Amazon, Microsoft, Google, Meta) remain heavily dependent on Indian engineers, especially for AI, cloud, and cybersecurity roles. Amazon alone had ~10,000 H-1B approvals in FY2025, while TCS had 5,505. U.S. firms are absorbing the higher costs because they need specialized talent3.   4. How This Affects Southeast Asia Talent Diversion to Asia: Stricter U.S. immigration policies are causing a reverse brain drain, with talent moving to Asia instead of the U.S. Singapore, for example, has tripled student and skilled worker applications by easing work permit rules and raising employment age limits6. Regional Opportunity: Singapore, Malaysia, and the Philippines could attract displaced Indian IT talent and U.S. firms looking for alternative hubs. Southeast Asia may see growth in nearshore delivery centers, especially for cloud and AI services. Risk for U.S. Tech Dominance: If talent shifts to Asia, U.S. firms might expand R&D in Singapore or India, reducing reliance on U.S.-based teams6.   ✅ Bottom Line: Indian IT firms face higher costs and operational uncertainty, accelerating their pivot to local hiring and automation. U.S. tech firms will likely absorb costs but explore offshore options. Southeast Asia stands to gain as a talent and delivery hub, especially Singapore, which is actively positioning itself as a safe haven for global tech talent.  

chartistkaohz      ( Date: 19-Sep-2025 11:09) Posted: As of now, there is no finalized TikTok deal between Xi Jinping and Donald Trump. The two leaders were scheduled to speak on September 19, 2025, about a framework agreement that would shift control of TikTok?s U.S. operations from ByteDance to a consortium of American investors, including Oracle, Andreessen Horowitz, and Silver Lake. However, the details remain unannounced, and Trump has signaled that the outcome depends on Xi?s response during the call. If Xi does not meet U.S. expectations?especially regarding TikTok?s algorithm?Trump may still proceed with a ban threat1. Wkeep monitor there will be no deal on tik too between us and china like the previous Huawei events chartistkaohz      ( Date: 19-Sep-2025 09:50) Posted: Investing in MTR Corporation (0066.HK) and Henderson Land Development (0012.HK) in 2025 presents a compelling opportunity for long-term, income-focused investors due to their attractive valuations, high dividend yields, and defensive business models. Here's why:   🚆 MTR Corporation: A Defensive Urban Infrastructure Play ✅ Reasons to Buy Stable Dividend Yield (~3.5%) MTR offers a consistent dividend yield backed by predictable fare revenue and property income?ideal in a low-interest environment 1. Government-Backed Expansion With HK$140 billion allocated to new railway projects and HK$65 billion for upgrades, MTR is doubling down on infrastructure growth 2. Its ?Rail-plus-Property? model ensures sustainable funding and long-term asset appreciation. Resilient Business Model Despite property market headwinds, MTR is reinventing its model by automating operations and monetizing assets like malls 3. This adaptability enhances its defensive nature. Urban Renewal Catalyst MTR is central to Hong Kong?s Northern Metropolis and Kai Tak redevelopment plans. Each new station boosts nearby land value, which MTR captures through property development 1. Valuation Upside MTR trades at a discount to its intrinsic value, with analysts estimating a 32% upside from current levels 4.   🏢 Henderson Land: High-Yield Property Giant with Deep Reserves ✅ Reasons to Buy Exceptional Dividend Yield (7.4%?8%) Henderson Land offers one of the highest yields among Hong Kong blue chips, rivaling high-yield bonds 5 6. Despite earnings volatility, dividends have remained stable for over a decade. Cash Flow Strength While its payout ratio exceeds net income (138%), dividends are well-covered by operating cash flow (57%) and free cash flow projections 5. Valuation Appeal Henderson trades at a low P/E (~6.5x) and around 0.3x price/book?historically cheap for a dividend-focused firm 7 6. Defensive Asset Base With HK$15.3 billion in operating cash flow and a strong balance sheet, Henderson can weather property downturns while maintaining shareholder returns 5. Strategic Land Bank & Project Pipeline The company plans to launch 13 projects in 2025, aligning with Hong Kong?s housing demand recovery in the second half of the year 6.   🛡 ️ Why These Are ?Very Blue? Blue Chips MTR is 75% government-owned, operates essential transport infrastructure, and has a dual revenue stream (rail + property). Henderson Land is a legacy developer with deep land reserves, strong liquidity, and a long history of dividend stability

 

Here' s a summary of the Singapore Dollar (SGD) exchange rate trends and forecasts against four major currencies:

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🇮 🇳 SGD/INR &ndash Singapore Dollar vs Indian Rupee

• Current Rate: ~₹ 68.57 per SGD
• Short-Term Trend: Slight upward movement expected. October forecast is ₹ 69.33, November ₹ 70.69. [SINGAPORE...027 - 2029]
• Long-Term Outlook: Gradual appreciation projected. By end-2026, SGD could reach ₹ 77.49, and by end-2029, up to ₹ 87.68. [SINGAPORE...027 - 2029]

📈 Direction: Bullish &mdash SGD is expected to strengthen against INR.

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🇺 🇸 USD/SGD &ndash US Dollar vs Singapore Dollar

• Current Rate: ~1.2848 SGD per USD
• Short-Term Trend: Slight weakening of SGD. October forecast is 1.279, November 1.264 SGD per USD. [DOLLAR TO...027 - 2029]
• Long-Term Outlook: SGD may strengthen gradually. By 2027, USD/SGD could drop to ~1.200, indicating SGD appreciation. [DOLLAR TO...027 - 2029]

📉 Direction: Neutral to Bullish &mdash SGD may strengthen slightly against USD over time.

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🇨 🇳 SGD/CNH &ndash Singapore Dollar vs Chinese Yuan (Offshore)

• Current Rate: ~¥ 5.54 per SGD
• Short-Term Trend: Stable with mild upward bias. October forecast average is ¥ 5.5595. [SGD to CNH...25 - 2075)]
• Long-Term Outlook: SGD expected to appreciate. By 2029, forecast is ~¥ 5.8483 by 2035, ~¥ 6.3195. [SGD to CNH...25 - 2075)]

📈 Direction: Bullish &mdash SGD is projected to strengthen against CNH.

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🇯 🇵 SGD/JPY &ndash Singapore Dollar vs Japanese Yen

• Current Rate: ~¥ 115.17 per SGD
• Short-Term Trend: Mild appreciation. October forecast is ¥ 117, December ¥ 118. [SG DOLLAR...027 - 2029]
• Long-Term Outlook: Strong upward trend. By 2029, SGD could reach ¥ 153. [SG DOLLAR...027 - 2029]

📈 Direction: Bullish &mdash SGD is expected to strengthen significantly against JPY.

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🧾 Summary Table

Currency Pair	Current Rate	Short-Term Trend	Long-Term Outlook	Direction
SGD/INR	₹ 68.57	Slightly Up	Up to ₹ 87.68	📈 Bullish
USD/SGD	1.2848	Slightly Down	Down to ~1.200	📉 Neutral/Bullish
SGD/CNH	¥ 5.54	Stable/Up	Up to ¥ 6.32	📈 Bullish
SGD/JPY	¥ 115.17	Mildly Up	Up to ¥ 153

chartistkaohz      ( Date: 19-Sep-2025 11:09) Posted: As of now, there is no finalized TikTok deal between Xi Jinping and Donald Trump. The two leaders were scheduled to speak on September 19, 2025, about a framework agreement that would shift control of TikTok?s U.S. operations from ByteDance to a consortium of American investors, including Oracle, Andreessen Horowitz, and Silver Lake. However, the details remain unannounced, and Trump has signaled that the outcome depends on Xi?s response during the call. If Xi does not meet U.S. expectations?especially regarding TikTok?s algorithm?Trump may still proceed with a ban threat1. Wkeep monitor there will be no deal on tik too between us and china like the previous Huawei events chartistkaohz      ( Date: 19-Sep-2025 09:50) Posted: Investing in MTR Corporation (0066.HK) and Henderson Land Development (0012.HK) in 2025 presents a compelling opportunity for long-term, income-focused investors due to their attractive valuations, high dividend yields, and defensive business models. Here's why:   🚆 MTR Corporation: A Defensive Urban Infrastructure Play ✅ Reasons to Buy Stable Dividend Yield (~3.5%) MTR offers a consistent dividend yield backed by predictable fare revenue and property income?ideal in a low-interest environment 1. Government-Backed Expansion With HK$140 billion allocated to new railway projects and HK$65 billion for upgrades, MTR is doubling down on infrastructure growth 2. Its ?Rail-plus-Property? model ensures sustainable funding and long-term asset appreciation. Resilient Business Model Despite property market headwinds, MTR is reinventing its model by automating operations and monetizing assets like malls 3. This adaptability enhances its defensive nature. Urban Renewal Catalyst MTR is central to Hong Kong?s Northern Metropolis and Kai Tak redevelopment plans. Each new station boosts nearby land value, which MTR captures through property development 1. Valuation Upside MTR trades at a discount to its intrinsic value, with analysts estimating a 32% upside from current levels 4.   🏢 Henderson Land: High-Yield Property Giant with Deep Reserves ✅ Reasons to Buy Exceptional Dividend Yield (7.4%?8%) Henderson Land offers one of the highest yields among Hong Kong blue chips, rivaling high-yield bonds 5 6. Despite earnings volatility, dividends have remained stable for over a decade. Cash Flow Strength While its payout ratio exceeds net income (138%), dividends are well-covered by operating cash flow (57%) and free cash flow projections 5. Valuation Appeal Henderson trades at a low P/E (~6.5x) and around 0.3x price/book?historically cheap for a dividend-focused firm 7 6. Defensive Asset Base With HK$15.3 billion in operating cash flow and a strong balance sheet, Henderson can weather property downturns while maintaining shareholder returns 5. Strategic Land Bank & Project Pipeline The company plans to launch 13 projects in 2025, aligning with Hong Kong?s housing demand recovery in the second half of the year 6.   🛡 ️ Why These Are ?Very Blue? Blue Chips MTR is 75% government-owned, operates essential transport infrastructure, and has a dual revenue stream (rail + property). Henderson Land is a legacy developer with deep land reserves, strong liquidity, and a long history of dividend stability

 

As of now, there is no finalized TikTok deal between Xi Jinping and Donald Trump. The two leaders were scheduled to speak on September 19, 2025, about a framework agreement that would shift control of TikTok?s U.S. operations from ByteDance to a consortium of American investors, including Oracle, Andreessen Horowitz, and Silver Lake. However, the details remain unannounced, and Trump has signaled that the outcome depends on Xi?s response during the call. If Xi does not meet U.S. expectations?especially regarding TikTok?s algorithm?Trump may still proceed with a ban threat1. Wkeep monitor there will be no deal on tik too between us and china like the previous Huawei events

chartistkaohz      ( Date: 19-Sep-2025 09:50) Posted: Investing in MTR Corporation (0066.HK) and Henderson Land Development (0012.HK) in 2025 presents a compelling opportunity for long-term, income-focused investors due to their attractive valuations, high dividend yields, and defensive business models. Here's why:   🚆 MTR Corporation: A Defensive Urban Infrastructure Play ✅ Reasons to Buy Stable Dividend Yield (~3.5%) MTR offers a consistent dividend yield backed by predictable fare revenue and property income?ideal in a low-interest environment 1. Government-Backed Expansion With HK$140 billion allocated to new railway projects and HK$65 billion for upgrades, MTR is doubling down on infrastructure growth 2. Its ?Rail-plus-Property? model ensures sustainable funding and long-term asset appreciation. Resilient Business Model Despite property market headwinds, MTR is reinventing its model by automating operations and monetizing assets like malls 3. This adaptability enhances its defensive nature. Urban Renewal Catalyst MTR is central to Hong Kong?s Northern Metropolis and Kai Tak redevelopment plans. Each new station boosts nearby land value, which MTR captures through property development 1. Valuation Upside MTR trades at a discount to its intrinsic value, with analysts estimating a 32% upside from current levels 4.   🏢 Henderson Land: High-Yield Property Giant with Deep Reserves ✅ Reasons to Buy Exceptional Dividend Yield (7.4%?8%) Henderson Land offers one of the highest yields among Hong Kong blue chips, rivaling high-yield bonds 5 6. Despite earnings volatility, dividends have remained stable for over a decade. Cash Flow Strength While its payout ratio exceeds net income (138%), dividends are well-covered by operating cash flow (57%) and free cash flow projections 5. Valuation Appeal Henderson trades at a low P/E (~6.5x) and around 0.3x price/book?historically cheap for a dividend-focused firm 7 6. Defensive Asset Base With HK$15.3 billion in operating cash flow and a strong balance sheet, Henderson can weather property downturns while maintaining shareholder returns 5. Strategic Land Bank & Project Pipeline The company plans to launch 13 projects in 2025, aligning with Hong Kong?s housing demand recovery in the second half of the year 6.   🛡 ️ Why These Are ?Very Blue? Blue Chips MTR is 75% government-owned, operates essential transport infrastructure, and has a dual revenue stream (rail + property). Henderson Land is a legacy developer with deep land reserves, strong liquidity, and a long history of dividend stability chartistkaohz      ( Date: 19-Sep-2025 09:38) Posted: In 2025, both the Hang Seng Tech Index rally and the Hong Kong IPO boom have been driven by a combination of macroeconomic recovery, policy support, and investor sentiment shifts. Here's a breakdown of the key reasons behind each trend:   📈 Why the Hang Seng Tech Index is Rallying in 2025 AI Boom and Tech Spending Surge Chinese tech giants like Alibaba, Baidu, Tencent, and JD.com are aggressively investing in AI, including robotaxis, in-house chips, and large language models. Capital expenditure from major internet firms is expected to more than double from 2023 to 2025, reaching $32 billion 1. Government Stimulus and Economic Support Beijing raised its 2025 GDP growth target to 5% and introduced stimulus measures, including industrial subsidies and AI development programs. These moves have reassured investors of continued state support 2. Valuation Appeal The Hang Seng Tech Index trades at around 21x forward earnings?lower than its 5-year average and significantly below the Nasdaq 100?s 27x?making it attractive to value-seeking investors 1. Strong Corporate Performance Companies like XPeng (+117% YoY), SMIC (+217% YoY), and Kingdee Software (+65% YTD) have posted strong earnings and growth, especially in EVs, semiconductors, and cloud computing 2. Easing US-China Tensions Signs of diplomatic thawing, such as talks between US and Chinese leaders and agreements on tech issues like TikTok, have improved investor sentiment 1.   💹 Why Hong Kong?s IPO Market is Booming in 2025 Record Fundraising and Listings Hong Kong raised over HKD 1.067 trillion in IPOs in the first half of 2025?a 220% YoY increase?making it the top global IPO market 3. Over 200 companies have filed for listings 4. A+H Listings Surge Dual listings (A+H) from large-cap Chinese firms, especially in EVs and biotech, accounted for over 70% of funds raised. The world?s largest EV battery maker raised HKD 41 billion in a single IPO 5. Overseas Investor Inflows Overseas cornerstone investors contributed 42% of IPO funds, driven by attractive valuations (Hong Kong stocks trade at a ~40% discount to the S&P 500) and policy reforms 3. Sectoral Focus: Tech, AI, Biotech High-growth sectors like AI, new energy, and healthcare are leading the charge. The HKEX?s new ?TECH? channel supports early-stage tech and biotech listings 4. Retail Investor Enthusiasm IPOs have seen strong oversubscription and post-listing performance, with some stocks gaining up to 41% within three month

 

Investing in MTR Corporation (0066.HK) and Henderson Land Development (0012.HK) in 2025 presents a compelling opportunity for long-term, income-focused investors due to their attractive valuations, high dividend yields, and defensive business models. Here's why:   🚆 MTR Corporation: A Defensive Urban Infrastructure Play ✅ Reasons to Buy Stable Dividend Yield (~3.5%) MTR offers a consistent dividend yield backed by predictable fare revenue and property income?ideal in a low-interest environment 1. Government-Backed Expansion With HK$140 billion allocated to new railway projects and HK$65 billion for upgrades, MTR is doubling down on infrastructure growth 2. Its ?Rail-plus-Property? model ensures sustainable funding and long-term asset appreciation. Resilient Business Model Despite property market headwinds, MTR is reinventing its model by automating operations and monetizing assets like malls 3. This adaptability enhances its defensive nature. Urban Renewal Catalyst MTR is central to Hong Kong?s Northern Metropolis and Kai Tak redevelopment plans. Each new station boosts nearby land value, which MTR captures through property development 1. Valuation Upside MTR trades at a discount to its intrinsic value, with analysts estimating a 32% upside from current levels 4.   🏢 Henderson Land: High-Yield Property Giant with Deep Reserves ✅ Reasons to Buy Exceptional Dividend Yield (7.4%?8%) Henderson Land offers one of the highest yields among Hong Kong blue chips, rivaling high-yield bonds 5 6. Despite earnings volatility, dividends have remained stable for over a decade. Cash Flow Strength While its payout ratio exceeds net income (138%), dividends are well-covered by operating cash flow (57%) and free cash flow projections 5. Valuation Appeal Henderson trades at a low P/E (~6.5x) and around 0.3x price/book?historically cheap for a dividend-focused firm 7 6. Defensive Asset Base With HK$15.3 billion in operating cash flow and a strong balance sheet, Henderson can weather property downturns while maintaining shareholder returns 5. Strategic Land Bank & Project Pipeline The company plans to launch 13 projects in 2025, aligning with Hong Kong?s housing demand recovery in the second half of the year 6.   🛡 ️ Why These Are ?Very Blue? Blue Chips MTR is 75% government-owned, operates essential transport infrastructure, and has a dual revenue stream (rail + property). Henderson Land is a legacy developer with deep land reserves, strong liquidity, and a long history of dividend stability

chartistkaohz      ( Date: 19-Sep-2025 09:38) Posted: In 2025, both the Hang Seng Tech Index rally and the Hong Kong IPO boom have been driven by a combination of macroeconomic recovery, policy support, and investor sentiment shifts. Here's a breakdown of the key reasons behind each trend:   📈 Why the Hang Seng Tech Index is Rallying in 2025 AI Boom and Tech Spending Surge Chinese tech giants like Alibaba, Baidu, Tencent, and JD.com are aggressively investing in AI, including robotaxis, in-house chips, and large language models. Capital expenditure from major internet firms is expected to more than double from 2023 to 2025, reaching $32 billion 1. Government Stimulus and Economic Support Beijing raised its 2025 GDP growth target to 5% and introduced stimulus measures, including industrial subsidies and AI development programs. These moves have reassured investors of continued state support 2. Valuation Appeal The Hang Seng Tech Index trades at around 21x forward earnings?lower than its 5-year average and significantly below the Nasdaq 100?s 27x?making it attractive to value-seeking investors 1. Strong Corporate Performance Companies like XPeng (+117% YoY), SMIC (+217% YoY), and Kingdee Software (+65% YTD) have posted strong earnings and growth, especially in EVs, semiconductors, and cloud computing 2. Easing US-China Tensions Signs of diplomatic thawing, such as talks between US and Chinese leaders and agreements on tech issues like TikTok, have improved investor sentiment 1.   💹 Why Hong Kong?s IPO Market is Booming in 2025 Record Fundraising and Listings Hong Kong raised over HKD 1.067 trillion in IPOs in the first half of 2025?a 220% YoY increase?making it the top global IPO market 3. Over 200 companies have filed for listings 4. A+H Listings Surge Dual listings (A+H) from large-cap Chinese firms, especially in EVs and biotech, accounted for over 70% of funds raised. The world?s largest EV battery maker raised HKD 41 billion in a single IPO 5. Overseas Investor Inflows Overseas cornerstone investors contributed 42% of IPO funds, driven by attractive valuations (Hong Kong stocks trade at a ~40% discount to the S&P 500) and policy reforms 3. Sectoral Focus: Tech, AI, Biotech High-growth sectors like AI, new energy, and healthcare are leading the charge. The HKEX?s new ?TECH? channel supports early-stage tech and biotech listings 4. Retail Investor Enthusiasm IPOs have seen strong oversubscription and post-listing performance, with some stocks gaining up to 41% within three months chartistkaohz      ( Date: 19-Sep-2025 03:44) Posted: Based on the information in the image and your question: Great Eastern Holdings (GEH) underwent a 1-for-1 bonus issue, so its historical prices should be adjusted accordingly. The current trading price of SGD 15 (post-adjustment) implies a pre-bonus equivalent of SGD 30. The embedded value of its life insurance business is said to be worth more than 50% of its market capitalization, suggesting undervaluation. The fair value estimate of SGD 36.59 (likely pre-bonus) would translate to about SGD 18.30 post-bonus. Conclusion: If GEH is currently trading at SGD 15 (post-bonus) and the fair value is estimated at SGD 18.30 (post-bonus equivalent), then: The stock is trading at a discount of about 18% to its fair value. This supports the view that GEH remains undervalued, especially considering its strong long-term performance, embedded value, and dividend history.

 

In 2025, both the Hang Seng Tech Index rally and the Hong Kong IPO boom have been driven by a combination of macroeconomic recovery, policy support, and investor sentiment shifts. Here's a breakdown of the key reasons behind each trend:   📈 Why the Hang Seng Tech Index is Rallying in 2025 AI Boom and Tech Spending Surge Chinese tech giants like Alibaba, Baidu, Tencent, and JD.com are aggressively investing in AI, including robotaxis, in-house chips, and large language models. Capital expenditure from major internet firms is expected to more than double from 2023 to 2025, reaching $32 billion 1. Government Stimulus and Economic Support Beijing raised its 2025 GDP growth target to 5% and introduced stimulus measures, including industrial subsidies and AI development programs. These moves have reassured investors of continued state support 2. Valuation Appeal The Hang Seng Tech Index trades at around 21x forward earnings?lower than its 5-year average and significantly below the Nasdaq 100?s 27x?making it attractive to value-seeking investors 1. Strong Corporate Performance Companies like XPeng (+117% YoY), SMIC (+217% YoY), and Kingdee Software (+65% YTD) have posted strong earnings and growth, especially in EVs, semiconductors, and cloud computing 2. Easing US-China Tensions Signs of diplomatic thawing, such as talks between US and Chinese leaders and agreements on tech issues like TikTok, have improved investor sentiment 1.   💹 Why Hong Kong?s IPO Market is Booming in 2025 Record Fundraising and Listings Hong Kong raised over HKD 1.067 trillion in IPOs in the first half of 2025?a 220% YoY increase?making it the top global IPO market 3. Over 200 companies have filed for listings 4. A+H Listings Surge Dual listings (A+H) from large-cap Chinese firms, especially in EVs and biotech, accounted for over 70% of funds raised. The world?s largest EV battery maker raised HKD 41 billion in a single IPO 5. Overseas Investor Inflows Overseas cornerstone investors contributed 42% of IPO funds, driven by attractive valuations (Hong Kong stocks trade at a ~40% discount to the S&P 500) and policy reforms 3. Sectoral Focus: Tech, AI, Biotech High-growth sectors like AI, new energy, and healthcare are leading the charge. The HKEX?s new ?TECH? channel supports early-stage tech and biotech listings 4. Retail Investor Enthusiasm IPOs have seen strong oversubscription and post-listing performance, with some stocks gaining up to 41% within three months

chartistkaohz      ( Date: 19-Sep-2025 03:44) Posted: Based on the information in the image and your question: Great Eastern Holdings (GEH) underwent a 1-for-1 bonus issue, so its historical prices should be adjusted accordingly. The current trading price of SGD 15 (post-adjustment) implies a pre-bonus equivalent of SGD 30. The embedded value of its life insurance business is said to be worth more than 50% of its market capitalization, suggesting undervaluation. The fair value estimate of SGD 36.59 (likely pre-bonus) would translate to about SGD 18.30 post-bonus. Conclusion: If GEH is currently trading at SGD 15 (post-bonus) and the fair value is estimated at SGD 18.30 (post-bonus equivalent), then: The stock is trading at a discount of about 18% to its fair value. This supports the view that GEH remains undervalued, especially considering its strong long-term performance, embedded value, and dividend history.

 

Based on the information in the image and your question:

Great Eastern Holdings (GEH) underwent a 1-for-1 bonus issue, so its historical prices should be adjusted accordingly.

The current trading price of SGD 15 (post-adjustment) implies a pre-bonus equivalent of SGD 30.

The embedded value of its life insurance business is said to be worth more than 50% of its market capitalization, suggesting undervaluation.

The fair value estimate of SGD 36.59 (likely pre-bonus) would translate to about SGD 18.30 post-bonus.

Conclusion:

If GEH is currently trading at SGD 15 (post-bonus) and the fair value is estimated at SGD 18.30 (post-bonus equivalent), then:

The stock is trading at a discount of about 18% to its fair value.

This supports the view that GEH remains undervalued, especially considering its strong long-term performance, embedded value, and dividend history.

 

Here?s a breakdown of whether Venture Corporation (SGX: V03) is worth buying, based on its yield, cash-rich / low-debt profile, and whether stock price could make SGD15. I?ll also point out risks and what would need to happen for it to hit that target. If you want, I can run some scenario models for you.


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What looks good

These are the strengths of Venture that support why someone might think it's worth buying, especially when looking for above ~5% yield and safety.

1. High Dividend Yield

The company pays a dividend of about S$0.75/share annually, which gives a yield in the region of ~5.5-6.7% depending on the share price.

This is attractive for income investors. It means you get decent cash returns even if the stock doesn?t appreciate fast.



2. Strong Cash / Net Cash Position and Low Debt

Venture has very strong net cash: cash & equivalents ~ S$1.26-1.32 billion vs minimal debt (e.g. total debt very small in comparison).

Net cash makes up a significant fraction (30-40%) of its market cap.

Zero or very low borrowing means less risk from interest rates or financial leverage. Good downside protection.



3. Good Free Cash Flow

It generates pretty healthy cash flow (operating + free cash flows). That helps support the dividend, special dividends, buybacks, etc.

In 1H25, free cash flow was around S$137.8 million (≈ S$0.48/share) just that half year.



4. Valuation Metrics & Potential for Re-rating

Its PE ratio is moderate compared to some peers it's not super cheap, but isn?t overly stretched. Some analysts think there could be re-rating if conditions improve.

Also, the intrinsic value per some models (e.g. free cash flow based) suggests there might be upside vs current price. For example, GuruFocus?s projected FCF intrinsic value is ~ SGD 17.70 vs the current price ~ SGD 13.60 in that model.





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What holds it back / Risks

To get realistic about whether it will hit SGD 15 (or beyond), we need to consider the headwinds and what needs to go right. Some risk factors:

1. Earnings / Revenue Pressure

Venture has had some declining revenue / profit in certain segments (e.g. lifestyle consumer segment weakness).

Forecasts are somewhat cautious: some analysts have cut 2025 projections due to weaker demand.



2. Macro / Trade / Geopolitical Risks

Tariffs, supply chain issues, economic slowdowns can affect demand, especially in electronics / ODM/EMS sectors.



3. Valuation Ceiling / Market Expectations

Some analysts have target prices around S$12-13.60 which is below your SGD 15 target. E.g. DBS had S$13.60 as TP.

To reach SGD 15, valuation multiples or earnings would need to expand or improve significantly.



4. Dividend Sustainability & Payout Ratio

The payout ratio is quite high. If earnings drop, or free cash flow falls, maintaining high dividends may stress the business.





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What would need to happen for SGD 15

If you believe Venture can hit SGD 15/share, here are the conditions / catalysts that would need to be in place:

Earnings rebound (revenues pick up, margin recovery), especially in weaker segments.

Continued or increased dividends, possibly special dividends.

Share buybacks to reduce share count, boosting EPS.

A re-rating of the multiple: investors willing to pay more PE (due to better growth visibility, less risk). If current PE is ~16-17x forward earnings, it might need to expand to, say, ~18-20x or more.

Macro tailwinds: e.g., strong demand in electronics/semiconductors, favorable trade policies, lower input cost pressures.

Probably also continued strong cash generation so net cash keeps supporting shareholder returns without hurting operations or R&D.



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Is ?worth buying? the case?

Putting it all together:

Yes, Venture has many of the traits you like: good yield (>5-6%), strong cash balance, little/no debt, solid free cash flow, and exposure to sectors that could grow. It is fairly safe relative to many growth-oriented tech names.

But the expectation to hit SGD 15 is somewhat optimistic compared to most analyst price targets right now, which are in the S$12-S$14 range. It isn?t out of the question, but it depends heavily on the catalysts listed above.



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Let?s connect HSBC?s share buy-back with the Fed?s future rate cuts after 2025 and their combined implications for shareholders.


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🔑 Context

1. HSBC Buy-back (Sept 2025)

Repurchasing 3.6M shares (~US$1.64B) as part of a larger program (127M shares since July 2025).

Reduces share count → boosts EPS and supports share price.

Signals management confidence in long-term earnings.



2. Fed Rate Cuts (Post-2025)

Cuts expected after a period of high interest rates.

Lower rates usually mean cheaper borrowing, higher liquidity, and improved global risk sentiment.

HSBC, as a global bank, is directly influenced by interest rate trends, especially in USD funding and global capital flows.





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📈 Implications to Shareholders

1. Bank Profitability Dynamics

During high rates (2022?2025): HSBC benefited from wider net interest margins (NIMs).

After rate cuts:

NIMs may compress as lending rates fall faster than deposit costs.

However, credit demand (mortgages, corporate loans, trade finance) will likely rebound, offsetting margin pressure.

More investment banking and wealth management activity as markets recover.



Shareholder impact: Earnings shift from ?high interest margin? to ?volume growth + fee income.? HSBC needs to adapt its business mix.


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2. Valuation Uplift from Rate Cuts

Lower rates → higher equity valuations (future cash flows discounted at lower rates).

Financial stocks may lag slightly (due to NIM pressure), but HSBC?s global footprint means it can benefit from loan growth in Asia, FX flows, and wealth management.

The buy-back enhances EPS per share, making the stock more attractive if valuations rise sector-wide.


Shareholder impact: Share price could rerate upwards in tandem with global equity markets.


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3. Dividend & Capital Returns

Fed cuts usually coincide with easing by other central banks → better funding conditions.

HSBC, with strong CET1 capital, can sustain high dividends and continue buy-backs.

Investors will see higher yield appeal compared to bonds (whose yields fall when rates are cut).


Shareholder impact: HSBC stock may become a ?bond proxy? with attractive dividends + buybacks, supporting share demand.


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4. FX & Global Exposure

Fed cuts → USD may weaken.

HSBC?s earnings in Asia (HKD, RMB, SGD) become more valuable when converted into weaker USD reporting currency.

Stronger Asian currencies + growth could lift HSBC?s book value.


Shareholder impact: Positive for those holding HSBC in HK/SG listings, as regional earnings get a currency tailwind.


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✅ Overall Implication for Shareholders:

Short-term: Some earnings pressure from NIM compression.

Medium to long-term: Fed rate cuts should improve loan growth, investment activity, and equity valuations. Combined with HSBC?s buy-backs and dividends, shareholders benefit from both capital appreciation and enhanced yield.



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Buy Report for the companies you've listed, focusing on their investment highlights, valuation, and strategic positioning:

 

📈 Buy Report Summary

1. Golden Agri-Resources (GAR)

Sector: Plantation / Agribusiness

Investment Highlights:
One of the largest palm oil plantation companies globally.

Benefiting from stable CPO prices and strong downstream integration.

Exposure to biofuel demand and sustainability trends.

Valuation:
Trading below book value.

Attractive P/E ratio compared to peers.

Buy Thesis: Undervalued asset base, strong cash flow, and long-term demand for palm oil support a positive outlook.

 

2. Indofood Agri Resources

Sector: Agribusiness / Food

Investment Highlights:
Diversified exposure to palm oil, rubber, and food processing.

Parent company Indofood provides strategic synergies.

Potential turnaround from restructuring and cost optimization.

Valuation:
Deep value play with low market cap relative to assets.

Buy Thesis: Recovery potential and strategic backing make it a speculative but promising investment.

 

3. Lendlease Global Commercial REIT

Sector: REIT / Retail & Commercial

Investment Highlights:
High-quality assets including 313@Somerset and Milan?s Sky Complex.

Strong sponsor with global development expertise.

Focus on sustainability and urban regeneration.

Valuation:
Yield of ~6-7%, trading at slight discount to NAV.

Buy Thesis: Stable income, global diversification, and sponsor strength support long-term growth.

 

4. Sasseur REIT

Sector: REIT / Outlet Malls (China)

Investment Highlights:
Unique exposure to China?s outlet mall sector.

Income supported by fixed and variable rent structure.

High yield (~8%) and resilient performance during economic cycles.

Valuation:
Attractive yield and discount to NAV.

Buy Thesis: High income visibility and China consumer recovery theme make it a compelling yield play.

 

5. Aspial Lifestyle

Sector: Retail / Jewellery & Property

Investment Highlights:
Exposure to luxury retail and property development.

Potential unlocking of value from property assets.

Brand strength in niche markets.

Valuation:
Deep value with potential asset monetization upside.

Buy Thesis: Turnaround potential and asset-rich balance sheet offer speculative upside.

 

6. Frasers Property

Sector: Real Estate / Diversified

Investment Highlights:
Diversified portfolio across residential, commercial, and industrial.

Strong sponsor backing and regional presence.

Focus on sustainability and smart city developments.

Valuation:
Trading at discount to RNAV.

Buy Thesis: Solid fundamentals, dividend support, and long-term urbanization trends favor accumulation.

 

🧠 Strategic Themes Across Picks

Yield & Value: Most picks offer high dividend yields and trade below NAV or book value.

Recovery & Turnaround: Indofood Agri and Aspial Lifestyle are positioned for recovery.

Sponsor Strength: Lendlease and Frasers benefit from strong parent companies.

China Exposure: Sasseur REIT offers unique access to China?s consumer sector.

 

 

2025年 9月 为 什 么 康 福 德 高 （ ComfortDelGro） 出 现 强 劲 买 盘 ：


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主 要 原 因

1. 收 购 CityCab

康 福 德 高 收 购 了 新 科 工 程 （ ST Engineering） 持 有 的 46.5% CityCab 股 权 ， 让 CityCab 成 为 全 资 子 公 司 。

这 项 交 易 被 认 为 对 盈 利 有 正 面 贡 献 （ EPS 增 厚 ） ， 强 化 了 在 新 加 坡 点 对 点 交 通 （ 德 士 、 私 召 车 ） 的 主 导 地 位 。

市 场 普 遍 认 为 收 购 价 格 相 对 账 面 值 合 理 ， 具 有 上 行 空 间 。



2. 增 长 与 股 息 吸 引 力

公 司 在 多 个 市 场 （ 新 加 坡 公 共 交 通 、 英 国 巴 士 、 国 际 私 召 车 业 务 ） 有 扩 张 计 划 。

近 期 收 购 A2B、 Addison Lee 等 海 外 资 产 ， 也 提 升 收 入 和 盈 利 能 力 。

分 析 师 预 期 股 息 率 可 达 5%?7%， 对 追 求 稳 定 现 金 流 的 投 资 者 极 具 吸 引 力 。



3. 机 构 与 散 户 资 金 流 入

9月 数 据 显 示 ， 无 论 机 构 还 是 散 户 投 资 者 都 有 明 显 净 买 入 。

机 构 资 金 特 别 看 好 ?高 股 息 + 收 购 带 来 盈 利 增 长 ?的 投 资 逻 辑 。



4. 分 析 师 积 极 评 级 与 目 标 价 提 升

多 家 券 商 （ 例 如 星 展 DBS） 维 持 ?买 入 ?评 级 ， 并 上 调 目 标 价 。

报 告 提 到 铁 路 客 流 恢 复 、 英 国 巴 士 利 润 率 改 善 ， 以 及 成 本 压 力 减 轻 ， 整 体 展 望 偏 正 面 。



5. 海 外 营 收 占 比 提 升

康 福 德 高 的 收 入 结 构 出 现 转 型 ： 海 外 市 场 贡 献 首 次 超 过 新 加 坡 本 土 ， 分 散 了 单 一 市 场 风 险 。

海 外 收 购 带 来 新 收 入 来 源 与 更 高 利 润 率 ， 被 视 为 战 略 利 好 。



6. 宏 观 环 境 与 市 场 轮 动

全 球 利 率 进 入 稳 定 甚 至 可 能 下 降 阶 段 ， 高 股 息 股 重 新 受 到 资 金 青 睐 。

新 加 坡 股 市 近 期 出 现 资 金 从 科 技 与 周 期 股 转 向 ?高 股 息 + 防 御 型 ?的 蓝 筹 公 司 ， 康 福 德 高 因 此 受 益 。





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潜 在 风 险

虽 然 买 盘 强 劲 ， 但 仍 有 风 险 ：

成 本 压 力 ： 能 源 价 格 、 人 工 成 本 上 升 可 能 压 缩 利 润 。

投 资 回 报 率 （ ROCE） 在 部 分 研 究 中 被 指 出 有 下 滑 趋 势 。

新 加 坡 出 租 车 与 私 召 车 竞 争 激 烈 ， 监 管 政 策 可 能 影 响 盈 利 空 间 。

海 外 业 务 面 临 汇 率 波 动 和 经 济 周 期 影 响 。



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👉 总 结 ：
9月 的 强 劲 买 盘 主 要 源 自 ?收 购 利 好 + 高 股 息 吸 引 力 + 机 构 资 金 流 入 + 海 外 扩 张 前 景 ?。
投 资 者 把 康 福 德 高 看 作 既 能 提 供 稳 定 现 金 流 ， 又 有 成 长 性 的 蓝 筹 股 。

 

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🔎 事 件 背 景

管 理 公 司 （ Manager） 在 2025年 上 半 年 （ 1月 1日 至 6月 30日 ） 收 取 管 理 费 时 ， 选 择 以 新 发 行 单 位 （ 新 REIT份 额 ） 的 方 式 来 支 付 70%的 基 本 费 用 部 分 。

发 行 价 定 为 0.6335 新 元 /单 位 ， 共 发 行 约 470万 新 单 位 。

发 行 后 ， 管 理 公 司 合 计 持 有 约 2720万 个 单 位 。



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📊 含 义 解 读

1. 对 现 有 股 东 的 摊 薄 效 应

增 发 单 位 → REIT总 发 行 量 增 加 → 现 有 股 东 的 持 股 比 例 被 稀 释 。

虽 然 470万 个 单 位 相 对 于 Sasseur REIT的 总 单 位 数 （ 约 14亿 ） 并 不 算 大 ， 但 仍 然 存 在 轻 微 的 摊 薄 。



2. 管 理 层 与 股 东 的 利 益 绑 定

管 理 公 司 选 择 拿 单 位 （ 股 份 ） 而 不 是 现 金 作 为 报 酬 ， 说 明 管 理 层 愿 意 与 投 资 者 ?同 舟 共 济 ?， 分 享 REIT未 来 的 业 绩 与 分 红 。

这 有 助 于 增 强 市 场 信 心 ， 因 管 理 层 的 收 益 与 REIT的 长 期 表 现 挂 钩 。



3. 现 金 流 保 留

如 果 管 理 费 全 部 以 现 金 支 付 ， 会 消 耗 REIT的 现 金 流 。

以 单 位 支 付 ， 意 味 着 更 多 现 金 可 以 保 留 下 来 用 于 分 派 （ DPU） 、 偿 债 或 资 本 支 出 。 对 投 资 者 来 说 ， 这 通 常 是 正 面 信 号 。



4. 对 股 价 的 潜 在 影 响

短 期 压 力 ： 因 增 发 导 致 小 幅 摊 薄 ， 市 场 可 能 解 读 为 轻 微 利 空 ， 股 价 可 能 受 到 压 制 。

长 期 利 好 ： 管 理 层 持 有 更 多 单 位 ， 表 明 他 们 有 动 力 提 升 资 产 表 现 和 派 息 ， 对 股 价 长 期 稳 定 有 正 面 作 用 。

如 果 投 资 者 认 为 发 行 价 0.6335新 元 高 于 或 接 近 市 场 价 ， 这 会 被 视 为 管 理 层 对 估 值 的 认 可 ， 对 市 场 信 心 有 帮 助 。





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🧭 结 论

整 体 来 说 ：

短 期 影 响 ： 轻 微 摊 薄 ， 股 价 可 能 有 一 点 压 力 。

长 期 影 响 ： 管 理 层 利 益 与 投 资 者 绑 定 + 保 留 现 金 流 ， 对 REIT的 派 息 能 力 和 投 资 者 信 心 是 正 面 因 素 。



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There are several plausible reasons why ComfortDelGro (an SGX-listed transport operator) has been seeing strong buy volume in September 2025. Of course, without knowing who is buying (institutional / retail / foreign) it?s speculative?but based on recent news, analyst reports, and market trends, here are likely drivers:


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Key Drivers for the Strong Buy Volume

1. Acquisition of CityCab

ComfortDelGro acquired the remaining ~46.5% stake in CityCab from ST Engineering, making it a wholly-owned subsidiary.

This is seen as earnings-accretive. It strengthens its point-to-point transport business in Singapore, a core segment.

In particular, given the acquisition?s price vs book value, analysts see a decent upside.



2. Strong Growth & Yield Profile

ComfortDelGro has been considered to have strong growth prospects for 2025 on various fronts: domestic public transport, international expansions (bus / taxis / private hire), acquisitions like A2B and Addison Lee, etc.

Dividend yield is attractive. For example, forecasts show 5-6-7% yields depending on market expectations. This draws in income-seeking investors.



3. Positive Institutional / Retail Fund Flows

The stock has been seeing net buy interest from both institutional and retail investors (though there are weeks where one side is more active).

Institutional investors appear to respond to the yield + earnings upside + corporate actions (acquisition) story.



4. Analyst Recommendations and Price Targets

Leading banks (e.g. DBS) maintain a BUY recommendation with a higher target price?this often encourages more buying.

The research notes easing headwinds (e.g. costs, margins) and positive outlooks in certain segments (UK public transport margins, Singapore rail ridership, etc.).



5. Strategic Moves & Exposure

ComfortDelGro?s revenue has crossed a threshold where overseas operations contribute more than the domestic ones, which diversifies risk.

The company has been acquiring assets (A2B, Addison Lee, etc.) which bring new revenue streams and potentially higher margins.



6. Macro / Market Context

With interest rates possibly stabilizing or easing, high dividend stocks become more attractive.

The Singapore market has seen rotational fund flows favoring stocks with yield + growth, especially with the MAS? Equity Market Development Programme (EQDP), which might encourage investment into under-owned stocks.





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Potential Risks / Why Some May Be Cautious

To balance the picture: strong buy volume doesn?t guarantee continued gains. Some risks to consider:

Earnings in certain segments may be pressured by inflation, energy / fuel costs, or macroeconomic slowdowns.

Return on capital (ROCE) has been flagged in some reports as declining or under pressure.

Competition (especially in private hire / taxi / PH segments) is intense in Singapore. Also regulatory risk could affect margins.

Foreign exchange, interest cost, and operating cost risks from its overseas business.



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