UOB KH downgrade entire banking sector due to Sands casino going bust

[madmansg]

0158 GMT [Dow Jones] Singapore banks at risk of credit losses from funding
Marina Bay casino-resort as operator Las Vegas Sands under financial
distress, says UOB KayHian. Notes U.S. gaming group''s US$8.8 million loss
in 2Q08, with debt/equity ratio at 3.9X while interest cover at only 0.83X,
share price down 88.3% year-to-date. All 3 Singapore banks among total of
19 lenders involved in S$5.4 billion credit facility for casino-resort,
with all 3 acting as lead arrangers. "We understand they are still holding
the bulk of term loans allocated. The only exception could be UOB as it
participated through UOB Asia, its investment banking arm." Says UOB could
have distributed portion of its term loans to some other foreign banks.
Downgrades OCBC (O39.SG) to Hold from Buy, cuts target price to S$6.55 from
S$9.80. OCBC off 4.9% at S$5.61, DBS (D05.SG) off 6.9% at S$10.80, UOB
(U11.SG) off 4.8% at S$13.82. (FKH)

 

[david]

It the Sands casinos fail, will that be enough to bring down the PAP government? Or will it be another case of honest mistake?

 

[eeoror88]

It the Sands casinos fail, will that be enough to bring down the PAP government? Or will it be another case of honest mistake?

S$5 billion + I don't think big amount to gahmen lah !!

 

[po2wq]

It the Sands casinos fail, will that be enough to bring down the PAP government? ...

dat wun bring dem down ler ... but, instead, dey wil bring up gst ... :(

 

[Frankiestine]

dat wun bring dem down ler ... but, instead, dey wil bring up gst ... :(

yeah man very scary when come to think of it...the pappies scums will use the excuse of the failures of the IR to increase taxes all round so as to compensate the drop in revenue...

 

[TeeKee]

0158 GMT [Dow Jones] Singapore banks at risk of credit losses from funding
Marina Bay casino-resort as operator Las Vegas Sands under financial
distress, says UOB KayHian. Notes U.S. gaming group''s US$8.8 million loss
in 2Q08, with debt/equity ratio at 3.9X while interest cover at only 0.83X,
share price down 88.3% year-to-date. All 3 Singapore banks among total of
19 lenders involved in S$5.4 billion credit facility for casino-resort,
with all 3 acting as lead arrangers. "We understand they are still holding
the bulk of term loans allocated. The only exception could be UOB as it
participated through UOB Asia, its investment banking arm." Says UOB could
have distributed portion of its term loans to some other foreign banks.
Downgrades OCBC (O39.SG) to Hold from Buy, cuts target price to S$6.55 from
S$9.80. OCBC off 4.9% at S$5.61, DBS (D05.SG) off 6.9% at S$10.80, UOB
(U11.SG) off 4.8% at S$13.82. (FKH)

Cursed be the Country who invested in SINS!

 

[DerekLeung]

yeah man very scary when come to think of it...the pappies scums will use the excuse of the failures of the IR to increase taxes all round so as to compensate the drop in revenue...

Yeah man they will increase transportation, power supply utilities, communications taxes to leverage !

 

[theblackhole]

when you treat your own people with distaste ,with contempt and with disrespect and when you reward yourself handsomely beyond your means and capabilities, tragedy will fall on the land you rule - your people will suffer and the land will be impoverished. this is the heavenly wisdom of the iching. the truth hurts deeply and cuts into the bone marrow. let us pray for our fellow men and let us all bless this land of ours with virtues and merits.we cannot stop what is unstoppable - this catastrophe that is sweeping across the globe and inflicting our land. endure,perseverve and weather it through.even the most severe winter will give rise to spring.good luck.

 

[lolabunny]

when you treat your own people with distaste ,with contempt and with disrespect and when you reward yourself handsomely beyond your means and capabilities, tragedy will fall on the land you rule - your people will suffer and the land will be impoverished. this is the heavenly wisdom of the iching. the truth hurts deeply and cuts into the bone marrow. let us pray for our fellow men and let us all bless this land of ours with virtues and merits.we cannot stop what is unstoppable - this catastrophe that is sweeping across the globe and inflicting our land. endure,perseverve and weather it through.even the most severe winter will give rise to spring.good luck.

which part of the Iching says that?

 

[DerekLeung]

when you treat your own people with distaste ,with contempt and with disrespect and when you reward yourself handsomely beyond your means and capabilities, tragedy will fall on the land you rule - your people will suffer and the land will be impoverished. this is the heavenly wisdom of the iching. the truth hurts deeply and cuts into the bone marrow. let us pray for our fellow men and let us all bless this land of ours with virtues and merits.we cannot stop what is unstoppable - this catastrophe that is sweeping across the globe and inflicting our land. endure,perseverve and weather it through.even the most severe winter will give rise to spring.good luck.

beautiful ...

 

[fishbuff]

when you treat your own people with distaste ,with contempt and with disrespect and when you reward yourself handsomely beyond your means and capabilities, tragedy will fall on the land you rule - your people will suffer and the land will be impoverished. this is the heavenly wisdom of the iching. the truth hurts deeply and cuts into the bone marrow. let us pray for our fellow men and let us all bless this land of ours with virtues and merits.we cannot stop what is unstoppable - this catastrophe that is sweeping across the globe and inflicting our land. endure,perseverve and weather it through.even the most severe winter will give rise to spring.good luck.

nah, i want to see it belly up.

 

[DIVISION1]

when you treat your own people with distaste ,with contempt and with disrespect and when you reward yourself handsomely beyond your means and capabilities, tragedy will fall on the land you rule - your people will suffer and the land will be impoverished. this is the heavenly wisdom of the iching. the truth hurts deeply and cuts into the bone marrow. let us pray for our fellow men and let us all bless this land of ours with virtues and merits.we cannot stop what is unstoppable - this catastrophe that is sweeping across the globe and inflicting our land. endure,perseverve and weather it through.even the most severe winter will give rise to spring.good luck.

The world of finance and fiscal policy implementation has more tricks than the conventional man on the streets can fathom, unfortunately. But the overall gains will ultimately go back to the people in tangible ways.

 

[Nice-Gook]

Woh.This is really news.But PAP have enough of peasant's money to rescue Sands in Singapore.Obviously,the failure of casino is a loss of face to Leegime.

 

[makapaaa]

Oh, no...

*sob*sob*​

 

[DerekLeung]

Woh.This is really news.But PAP have enough of peasant's money to rescue Sands in Singapore.Obviously,the failure of casino is a loss of face to Leegime.

Lose face twice. Ferris wheel .
First they don't want the man on the street to go up the ferris wheel. They want corporate clients. Now even man on the street do not go up !
Most of the people I know have not being up there.

 

[Merl Haggard]

0158 GMT [Dow Jones] Singapore banks at risk of credit losses from funding
Marina Bay casino-resort as operator Las Vegas Sands under financial
distress, says UOB KayHian. Notes U.S. gaming group''s US$8.8 million loss
in 2Q08, with debt/equity ratio at 3.9X while interest cover at only 0.83X,
share price down 88.3% year-to-date. All 3 Singapore banks among total of
19 lenders involved in S$5.4 billion credit facility for casino-resort,
with all 3 acting as lead arrangers. "We understand they are still holding
the bulk of term loans allocated. The only exception could be UOB as it
participated through UOB Asia, its investment banking arm." Says UOB could
have distributed portion of its term loans to some other foreign banks.
Downgrades OCBC (O39.SG) to Hold from Buy, cuts target price to S$6.55 from
S$9.80. OCBC off 4.9% at S$5.61, DBS (D05.SG) off 6.9% at S$10.80, UOB
(U11.SG) off 4.8% at S$13.82. (FKH)

Now then UOBKayhian come out to downgrade Sands. More than two months ago I leaked out in this
forum about LVS's financial difficulty, a number of you fellas accused me of spreading false rumour.

Remember I don't know how to bullshit!

 

[Merl Haggard]

Wah lan eh! LVS dropped to US$9.25 from US$150 in Oct 07. Looks like the development of Marina Bay IR will be abandoned.

Now I know that LVS recent drive to recruit 10,000 employees is nothing, but a public relation exercise.



LAS VEGAS SANDS CORP (LVS)
* Real Time Quote
Source: NYSE Real-time Stock Prices

$9.25
Last Trade -2.46(-21.01%)

Change Today
* 3,692,105
Volume 10:40:01 AM

 

[DOM the Clown]

The world of finance and fiscal policy implementation has more tricks than the conventional man on the streets can fathom, unfortunately. But the overall gains will ultimately go back to the people in tangible ways.

Please elaborate in simple English. No bombastiquequequeque philosophy please......................

 

[DOM the Clown]

Now then UOBKayhian come out to downgrade Sands. More than two months ago I leaked out in this
forum about LVS's financial difficulty, a number of you fellas accused me of spreading false rumour.

Remember I don't know how to bullshit!

Bro,
If you need to learn how to bullshit, get Division1. He/She/It will help you to learn the finer side of putting things across like a merry-go-round.

Cheers!
DOM


ps: you've got great postings! keep it up!

 

[Neh_Neh_Pok]

Cursed be the Country who invested in SINS!

Which country is that? Got any evidence/proof? Is it your pestors or "Goat" told you that?