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Reuters  May 13  Comment 
China's Fosun International is among suitors bidding for ACR Capital Holdings Pte Ltd, the owner of Singapore's biggest reinsurance firm, in a deal valued at around...
Reuters  May 10  Comment 
Noble Group is set to clinch about $3 billion in bank credit facilities, sources close to the matter said, but it will have to offer the highest interest rate it has ever paid as lenders are wary after its ratings downgrades to junk status.
Reuters  May 5  Comment 
The makers of China's excavators and bulldozers should be rejoicing: after two years of consecutive monthly declines, overall sales were up in the first three months of the year, while property sales and construction activity revived.
Reuters  Mar 31  Comment 
Worldwide share issues slumped to a seven-year low in the first quarter of the year, as market volatility claimed the hopes of companies seeking to list their stock, Thomson Reuters data showed on Friday.
Reuters  Mar 31  Comment 
Chinese billionaire Wang Jianlin's Dalian Wanda Group is looking to take its real estate arm off the Hong Kong bourse just 15 months after its debut, unhappy with its...
SeekingAlpha  Mar 24  Comment 
Yahoo  Mar 16  Comment 
SINGAPORE/HONG KONG (Reuters) - Noble Group (NOBG.SI) is in advanced talks to raise a large unsecured loan from banks that will help repay its debt maturing in May, the loss-making commodity trader's head of treasury said, a move that could help...
Reuters  Feb 11  Comment 
As profits sag and debt mounts, more Southeast Asian firms are set to join the likes of Malaysian oil giant Petronas in cutting capital expenditure, casting a cloud over economic growth in a region better known as a development hotspot.




 
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Kongzhong Corporation (Kongzhong) is one of the leading providers of wireless value-added services in China. The company provides most of its services through 2.5G technology platforms, including wireless access protocol (WAP), multimedia messaging service (MMS), and Java, which offer higher quality graphics, richer content and interactivity compared to 2G wireless services. Kongzhong also offers a range of data and voice services through 2G technology platforms, including short messaging service (SMS), interactive voice response (IVR) and color ring back tone (CRBT). It delivers its services that users can access directly from their mobile phones, including by choosing an icon embedded in select models of handsets, or from a mobile operator's portal or web site. In 2006, revenue from 2.5G and 2G each accounted for 49% and 51% of the total revenue of the company. In 2006, its top three products, SMS, WAP, and MMS business each contributed 41%, 25%, and 22%, respectively, of the company's revenue.

Kongzhong's third quarter results were in line with market expectations. Revenue stopped declining sequentially for the first time in the past five quarters. The Chinese wireless value-added services market has seen increasingly intense competition, and the policy changes from Chinese telecom operators and regulation changes from Chinese government have great effect on Kongzhong's business. Although we are not optimistic about its prospects in the near term due to the tough WVAS operating environment, the company still has enough cash to look for another source of revenue growth in the future. The low P/B ratio of the stock can provide some support for its stock price. Therefore, we are maintaining our Hold recommendation for the stock.




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