Latest Posts By ozone2002
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| 10-Jun-2010 11:31 |
Swiber
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Swiber
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now i know who's been collecting cheap..... Swiber Holdings: S$0.91 BUY (TP: S$1.35) Primed for growth Re-initiate with a BUY. We re-initiate coverage on Swiber Holdings with a BUY rating and TP of S$1.35 based on 10x P/E on FY11 core EPS. Our TP implies 48% upside from its last price. We like the stock because: (1) Swiber is a leading offshore construction player in the Asia Pacific region and is a direct beneficiary of pick-up in new platform and pipeline projects. (2) Record high order book at US$1b provides strong topline visibility for the next three years. (3) Valuation is attractive at 7x FY10 P/E vs. peers’ valuation at 11-14x P/E. We expect Swiber to achieve FY10-11 core net profit of US$39m and US$49m respectively. Key re-rating catalysts are new order wins and strong earnings momentum. Order book hitting new highs. Swiber experienced strong order book expansion in recent months, having secured US$462m new orders since the start of the year. Swiber’s total order book is now US$1b, a record for the company, and this is more than two times FY09 revenue. The company is looking at US$5b new EPCIC tenders in the market and we think there could be more upside surprise on new orders as these contracts are eventually awarded in the next 12 months. Compound earnings growth of 25% to be driven by high orders. We expect Swiber to achieve 2-year EPS CAGR of 25% over FY10-11 mainly driven by higher revenue (+16% CAGR FY10-11) and higher margins. We see little downside risk to our FY10-11 revenue forecasts as more than 70% of our revenue assumptions are backed by orders in-hand. Margins could surprise on the upside as the increased vessel ownership will result in better cost control. We estimate operating margins to range 12-13% in FY10-11 vs. 5% in FY09. Good entry price; undemanding valuation. Swiber’s share price has fallen 27% from its recent high and now trades at 7x FY10 P/E, 1.1x FY09 P/B and 0.27x PEG. We believe valuation is attractive: (1) Global offshore construction peers are trading at higher P/E multiple of 11-14X and P/B multiple of 2.0-3.0x. (2) Current P/E valuation is a 50% discount to its average P/E since listing of 14x and well below its peak P/E of more than 30x during the last oil up-cycle. |
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| 10-Jun-2010 09:11 |
Swiber
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Swiber
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swiber having some activity today... let's see it can chiong after all the BBs collected @ low 90s.. |
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| 10-Jun-2010 09:09 |
HPL
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HPL
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WARNING CHIONG ON THIN VOL............... BE CAUTIOUSLY OPTIMISTIC |
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| 10-Jun-2010 09:04 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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why? don't tell me u also had an erection after lunch?
haha
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| 09-Jun-2010 15:03 |
Others
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SSE start to cheong liao? BULL trap? hee..
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china to win world cup after beatin france? keke | ||||
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| 09-Jun-2010 15:01 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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HSI good siah.. after lunch got BIG erection |
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| 09-Jun-2010 14:48 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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u so clever.......... ace my course...
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| 09-Jun-2010 14:45 |
Others
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SSE start to cheong liao? BULL trap? hee..
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shanghai chiong means S chip chiong... |
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| 09-Jun-2010 14:14 |
HPL
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HPL
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chiong again........ undervalued.......used to be $5 |
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| 09-Jun-2010 14:13 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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after lunch chiong ahhhhhhhhhhhhhhhh |
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| 09-Jun-2010 10:15 |
GLD USD
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Gold going up this year?
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Woweeeeee!!!!! $$$$$$PRECIOUS-Gold firms near all time high; SPDR hits recordJune 9 (Reuters) - Gold firmed on Wednesday, hovering within sight of a record above $1,250 an ounce struck the previous day as investors bought the metal on worries the euro zone credit contagion could hurt global economic growth. FUNDAMENTALS * Spot gold XAU= was at $1,237.50 an ounce by 0057 GMT, up $3.87 from New York's notional close on Tuesday, when it rose as high as $1,251.20. * Gold, up around 12 percent so far in the latest quarter, is benefiting from fears the euro zone's sovereign debt crisis may spread, weighing on global economic recovery. * The world's largest gold-backed exchange-traded fund, SPDR Gold Trust, said its holdings rose to a record high at 1,298.530 tonnes as of June 8, from 1,286.359 tonnes as of June 4. [GOL/SPDR] * U.S. gold futures for August delivery GCQ0 fell $6.5 an ounce to $1,237.5 an ounce after hitting an all time high the previous day. * Gold priced in euros XAUEUR=R and Australian dollars XAUAUD=R also held near records. MARKET NEWS * The euro remained fragile on Wednesday, although it held above a recent four-year low against the dollar, and higher-risk currencies such as the Australian dollar gave back gains as Asian share markets fell. [USD/] * U.S. crude futures extended gains on Wednesday to above $72 a barrel after industry data showed U.S. crude stocks fell much more than expected last week. [O/R] * The Nikkei average fell 0.7 percent on Wednesday, moving towards a six-month low, hurt by jittery sentiment in financlal markets, although U.S. stocks mostly rose in volatile trading on gains in materials and financial shares. [.T] [.N] DATA EVENTS The following data is expected on Wednesday ECON: - U.S. Fed Chairman Bernanke testifies (1400 GMT) - U.S. mortgage index, weekly (1100 GMT) - U.S. wholesale inventories, April (1400 GMT) - U.S. Fed beige book (1800 GMT) RELATED NEWS > Big U.S. banks angle for 'Volcker rule' exemption [nN08264817] > Japan core machinery orders rise 4%, beat f'csts [nTOE65700Y] > EU ministers eye austerity, Spanish strike on cuts[nLDE6570P8] > US Senate jobs bill would hike fund manager tax [nN08259039] > EIA lowers world 2010 oil demand on Europe crisis [nN08265325] > Amid gloom, some bulls roam Wall Street [nN08266456] > IMF work to focus on fiscal strains, vote reform [nN0878350] > US consumer confidence deteriorates in June-IBD [nNLL8HE65U] > UK shop price inflation eases to 1.8% in May-BRC [nLDE6570T7] > Britain begins painful gov't spending review [nLDE6571XK] Precious metals prices at 0057 GMT Metal Last Change Pct chg YTD pct chg Turnover Spot Gold 1237.50 3.87 +0.31 12.94 Spot Silver 18.27 0.08 +0.44 8.56 Spot Platinum 1517.75 -7.75 -0.51 3.46 Spot Palladium 442.25 2.75 +0.63 9.06 TOCOM Gold 3644.00 -18.00 -0.49 11.81 27299 TOCOM Platinum 4487.00 -41.00 -0.91 2.42 8552 TOCOM Silver 54.40 0.40 +0.74 5.22 264 TOCOM Palladium 1311.00 28.00 +2.18 12.53 262 Euro/Dollar 1.1935 Dollar/Yen 91.32 TOCOM prices in yen per gram. Spot prices in $ per ounce. (Reporting by Lewa Pardomuan; Editing by Michael Urquhart) |
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| 09-Jun-2010 10:11 |
CSE Global
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CSE Global
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CHIONG AH on freakin thin vol..be careful |
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| 09-Jun-2010 09:53 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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no chiong ah today? must be damn bearish.. majority bearish... = market will be bullish... MEGA contrarian.. |
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| 08-Jun-2010 16:51 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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wah piang eh..intra day head n shoulder.. flop..
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| 08-Jun-2010 16:50 |
HPL
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HPL
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up 10% very very thin vol easy to manipulate.. any case whatever makes $$ is a gd share.. |
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| 08-Jun-2010 15:52 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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it ain't over till the Fat lady sings........ ohhhh solo mi ohhhhhhhh |
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| 08-Jun-2010 15:50 |
HPL
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HPL
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wing tai got own land/hotel in orchard rd? wing tai got ong beng seng? |
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| 08-Jun-2010 15:46 |
Others
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World Cup 2010
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This fri got another source of income.. so exciting.. mon - fri morning STI/Nikkei/HSI Fri-Sun night - World Cup/S'pore pool collect $$$$$$$$$$$$$$$$$$$$$$ |
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| 08-Jun-2010 15:13 |
SoundGlobal
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Epure International
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oei BBs let pple have the chance to buy la.. push up all the way to 86.5 how pple buy.. |
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| 08-Jun-2010 15:09 |
SoundGlobal
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Epure International
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these freakin BBs damn gan cheong spider.. whack all the sell Q @ 84.5 n 85.. |
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