Tag: Asia

Singapore Post upgraded to 'buy' from 'hold' on attractive valuation

Posted by | Nov 22, 2007 | |

Kim Eng Securities has upgraded Singapore Post Ltd (SingPost) to “buy” from “hold” in light of the stock’s attractive valuation compared to its target price of 1.38 Singapore dollars a share.

“The stock looks attractive now following the share price correction in the past two weeks,” Kim Eng said in a client note Thursday.

“Furthermore, SingPost provides a safe harbor amid a volatile market, given its quarterly dividend payouts and its attractive policy of paying out 80-90 percent of earnings (or a minimum of 5 cents/share),” it said.

The brokerage expects SingPost’s year to March 2008 net profit to grow to 150.9 million Singapore dollars from a projected 139.7 million dollars this year.

Kim Eng said the postal operator’s growth initiatives overshadow the threat from potential local competitors as Singapore liberalizes its postal services.

SingPost said last month it will continue to grow its core businesses of mail and logistics locally, and extend its regional reach.

At the end of the morning session, SingPost was up 1 cent or 0.9 percent at 1.13 dollars, with 1.9 million shares traded.

(1 US dollar = 1.45 Singapore dollars)

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Pandu Siwi plans hefty stake sale to Emirates Post

Posted by | Nov 19, 2007 | |

Indonesia’s Pandu Siwi Group, one of the largest logistics providers in the archipelago, said it plans to sell 40 percent of its shares to Emirates Post, a post office company owned by the government of the United Arab Emirates.

The process of acquisition, valued at least USD11.1 million according to the Dubai firm, is expected to be wrapped up January.

The Pandu Siwi group has ambitions of becoming the largest logistics company in Southeast Asia in the next five years.

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Japan Post Network chooses Aflac as exclusive provider of cancer insurance

Posted by | Nov 19, 2007 | |

Japan Post Network Co. has chosen Aflac Japan, a unit of U.S.-based supplemental insurer Aflac Inc., as the exclusive provider of cancer insurance for distribution through its roughly 24,000 post offices nationwide.

“Given the extensive number of post office locations, we anticipate that over-the-counter sales will play an important role in the future,” said Laura Kane, a spokeswoman for Aflac Inc. However, the company isn’t ready at this point to share expectations on future revenue or earnings from the deal, she said.

Japan Post Network is one of four separate postal entities that started operating in October as a part of the postal privatization process established under laws enacted in 2005, the Columbus, Ga.-based Aflac said.

Japan is Aflac Inc.’s biggest market, where it derives about 75% of its total revenue. The company says it’s the No. 1 insurance company in terms of individual insurance policies in force in Japan. Kane said cancer is the No. 1 killer in Japan and Aflac is the biggest seller of cancer insurance in that country.

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DHL commissioned research reveals new export landscape for ASEAN and Asia

Posted by | Nov 16, 2007 | |

DHL revealed today the findings of a study commissioned to Economist Intelligence Unit (EIU) on regional trade flows. The report entitled Trading up: A New Export Landscape for ASEAN and Asia, examines the movement of goods across borders in Asia, with ASEAN as the starting point. Findings show that despite goals on ASEAN integration, the new export landscape in Asia reveals that ASEAN is at a cross roads between pursuing deeper integration with fellow ASEAN member countries, or falling away to develop individual bilateral trading relationships with China. The share of exports to China from all ASEAN countries in the study except Vietnam has risen sharply while intra-ASEAN trade has shown a declining growth trend.

The release of the study is timed to coincide with the ASEAN Business and Investment Summit (ASEAN-BIS), which DHL has been a key sponsor for the past 5 years. The study concentrated on the ASEAN bloc’s six largest economies – Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam – and analyzed the trade of its closest regional competitors, China, Japan and India. Shifting import and export trends from 2000 to 2007 are analyzed, focusing particularly on the role played by high-value exports as compared with lower-value bulk commodity goods. It is follow-up research from “ASEAN Exports: Today, Tomorrow and the High-value Challenge”, which DHL and EIU jointly released at the 4th ASEAN Business and Investment Summit 2006.

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