Latest Posts By ozone2002
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About ozone2002
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| 04-Mar-2010 13:25 |
Osim Intl
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OSIM
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Greater fool theory : The greater fool theory (sometimes the bigger fool theory, also called survivor investing) is the belief held by one who makes a questionable investment, with the assumption that they will be able to sell it later to "a bigger fool"; in other words, buying something not because you believe that it is worth the price, but rather because you believe that you will be able to sell it to someone else for an even better price. So yes i'm a fool...but i'm waiting to sell it to the bigger fool ...kekek |
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| 04-Mar-2010 11:49 |
Others
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Beware !
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u know .. this won't happen if u are not greedy.. people get tricked because of greed... Just like pple lose in the stock market because of greed! |
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| 04-Mar-2010 11:43 |
Citic Envirotech
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United Envirotech
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utd is a cock tease! |
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| 04-Mar-2010 11:41 |
Genting Sing
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GenSp starts to move up again
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i've posted b4 this loser is on a downtrend.. RIDE the trend.. until there's a reversal.. for long term holders who are forever bullish can ignore my calls |
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| 04-Mar-2010 10:06 |
Healthway Med
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healthway, healthy?
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16.5 cleard... next 17 |
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| 04-Mar-2010 09:57 |
SoundGlobal
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Epure International
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Epure covered gap of 86.5c next resistance @ 91c.. technical indicators trending up.. good sign.. vol healthy on uptrend.. DYODD |
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| 04-Mar-2010 09:55 |
China Gaoxian
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ChinaGaoxian
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in the process of accumulating slowly accumulate till 1,000 lots |
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| 04-Mar-2010 09:13 |
China Gaoxian
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ChinaGaoxian
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i shall put my money where my mouth is.. will accumulate 1,000 lots |
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| 04-Mar-2010 09:11 |
Swiber
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Swiber
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in war there are losers and winners.. just which side u are on :) |
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| 04-Mar-2010 09:08 |
Midas
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Midas
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BOOMZ!!..yeah..read ur charts to get ahead of the news |
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| 03-Mar-2010 19:38 |
Swiber
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Swiber
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think investors are too focused on the 2009 figures.. gotta look forward.. not backward.. view the forest instead of the trees.. |
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| 03-Mar-2010 18:21 |
Swiber
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Swiber
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Swiber Holdings, BUY S$1.03, Bloomberg: SWIB SP
Look beyond 2009
Price Target: S$ 1.42
By: Wee Lee CHONG CFA, +65 6398 7971
At a Glance
FY09 results were below expectation, due to worse than expected gross
margin for variation orders.
Price catalysts - Expect year round offshore EPCIC contract wins from
various regions in Asia.
+38% to our target price of S$1.42. Maintain BUY.
Comment on Results
Swiber’s net profit was down 11% y-o-y to US$35m in FY09. The US$8m
recurring net profit in FY09 was lower than our expectation of US$20m,
after factoring in US$7m mark-to-market and one-off insurance write-off for
Swiber’s convertible bond, and the US$33m gain from vessel disposals. The
increase in Swiber’s offshore fleet and the postponement of possible profit
recognition for a US$30m project were the key reasons for the slump in
gross profit margin to only 0.2% in 4Q09, vs. a normalized 15-25%.
Net gearing is lower y-o-y. Swiber’s net gearing has fallen to 0.86x by end
FY09, vs. 1.01x at end FY08. Still, this was higher than the 0.75x as of
end 3Q09, as Swiber took on more debt to finance the slower billings to
customer. Management guides that this was due to timing issues on project
progress and actual billings.
Recommendation
US$142m y-t-d order win in 2010. We estimate that Swiber would have won
>US$788m worth of announced and unannounced contracts ( |
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| 03-Mar-2010 15:02 |
China Gaoxian
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ChinaGaoxian
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if u read business times today, this undervalued gem report net profit higher than many counters listed in the SGX position 40+ and it's trading @ 2.5 PE.. wah lau! wat a freakin steal... uob report it's fair value to be 40c..upside is double!! make $$ company still tradin so low..i buy value when i see one.. DYODD... |
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| 03-Mar-2010 11:59 |
SIA
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A380 A Great Way to Fly
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u mean once it reach double top..it will start to sag like madonna's ______... old liao.. sag quite a lot u know :) |
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| 03-Mar-2010 11:37 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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haha..u ham sap "LOW" :) |
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| 03-Mar-2010 10:54 |
Swiber
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Swiber
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FY09 results for Swiber were below expectation, due to worse than expected gross margin for variation orders. Price catalysts would be year round offshore contract wins from various regions in Asia. Net gearing is lower y-o-y, at 0.86x by end FY09, vs. 1.01x at end FY08. Our analyst expects strong profit recovery in FY10. Maintain BUY and target price of S$1.42, which offers 38% potential upside. |
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| 03-Mar-2010 09:33 |
CapitaMalls Asia
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CapMallsAsia Doji Moves Out of Down Channel
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CMA is gonna kick out cosco and be a component stock..that is the rumor.. load up CMA cos the fund managers tracking the STI will have to dump cosco and load up CMA.. low 2.3 level load up DYODD |
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| 03-Mar-2010 09:29 |
Swiber
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Swiber
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Swiber Holdings (SWIB SP) NOT RATED Price: S$1.03 Mkt Cap: S$523.6m Daily Vol: 16.2m 1-Yr Hi/Lo: S$0.255/1.220 4Q09: Key takeaways from analyst briefing Analysts: Nancy Wei/Stella Tan Tel: (65) 6590-6628/6590-6629 4QFY09 results Swiber reported a net loss of US$6.5m for 4Q09 vs. a net loss of US$8.3m in 4Q08. Excluding gain on disposal of vessels, net loss would have been US$18.0m vs. US$17.2m loss previously. Gross profit for 4Q09 was US$0.2m (4Q08: S$12.3m loss). Results were below market expectations. Poor 4Q09 performance was due to: * Marked-to-market and one-time issuance cost write-off of US$6.9m relating to Swiber's convertible bonds * Low contract wins in the earlier quarters of FY09 had affected 4Q09 revenue (-3.3% yoy). In the meantime, sale & leaseback (SLB) charges increased as Swiber progressively completed its SLB programme of 15 vessels. * BG E&P (India) contract was pushed back because of change in work scope. Higher margin work will now materialise in 4Q10 instead 4Q09. * Admin. expenses increased by 60% yoy to US$9.6m in 4Q09 from US$6.0m in 4Q08, in line with Swiber's regional business expansion. * Associates' contribution was a loss of US$0.04m in 4Q09 vs. a profit of US$1.1m in 4Q08. Outlook * Swiber's fortunes have turned the corner with massive contract wins from 4Q09 onwards, as evidenced in its sharply highly orderbook of US$769m as of 2 Mar 10 vs. US$440m in 3Q09. * FY08-FY09's lacklustre performance mirrored the trough of the offshore EPCIC market. * Swiber expects a recovery in EPCIC margin to 15-25% (FY09: 2.2%, FY07: 17.9%). This has factored in higher SLB vessel charges, as a result of the 15-vessel SLB programme. * Percentage of group turnover from offshore EPCIC should expand from 64% in FY09. Though percentage of group turnover from Offshore Marine Support (FY09: 28%) would likely shrink, absolute revenue is sustainable. * Today, Swiber has the largest offshore construction vessel fleet in the region. * The group will continue to pursue regional expansion via joint-ventures, as this is the fastest way to penetrate new markets. Vietnam (6% of FY09 turnover) and Myanmar (3%) became sizeable markets in FY09, in addition to Singapore (10%), Malaysia (8%), Indonesia (8%), Brunei (31%) and India (26%). Stock Valuation Consensus EPS forecasts are 0.11 US cts and 0.13 US cts for FY10 and FY11 respectively (FY09: 7.39 US cts). At today's closing share price of S$1.03, Swiber is trading at prospective PEs of 3.7x and 5.7x. Stock is trading at P/B of 1.2x. |
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| 02-Mar-2010 16:43 |
Genting Sing
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GenSp starts to move up again
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downtrend la.. unless u see a reversal..then have to coverback.. |
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| 02-Mar-2010 16:29 |
Swiber
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Swiber
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US$800 million order book..no scared..keke only problem is they screw up the execution.. vested.. |
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