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Will this Yzj be going to the penny stock category as it is continuing its journey downwards against the other ship-build counters? My guess 50-50.
Closed 1.065, support broken!
But compare to it's peer COSCO, YZJ is doing better :D
But compare to it's peer COSCO, YZJ is doing better :D
lowchia ( Date: 08-Jul-2012 19:59) Posted:
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On Friday, Yangzijiang broken the resistance at $1.075 and closed at $1.09 with HIGH volume of 33.05 million shares traded.
During the past 10 bars, there have been 6 white candles and 2 black candles for a net of 4 white candles. During the past 50 bars, there have been 23 white candles and 22 black candles for a net of 1 white candles.
RSI & MACD are bullish as RSI trend upwards.
Currently prices are well supported by 200 days MA at $1.075.
Immediate Resistance of Yangzijiang: $1.14
Immediate Support of Yangzijiang: $1.075
The prices have broken th .......... READ MORE
Huat Ah!
1.09 liao.
All shipping counters cheong for the last few days.
As quoted by 1 master,forgotten the name[many thanks],
YZJ Cheong Ah!
Financial impact of the cancellation of the two vessels is small. The vessels account for only 1% of YZJ's order book of US$4.5b (96 vessels). In addition, YZJ has already collected a deposit of 20% plus possibly some progress payments, as the vessels were already under construction. Remedies available to Yangzijiang include selling the vessels. As these are standard Handymax vessels, we do not foresee much difficulty for YZJ to dispose the vessels upon completion, with the benefit of the price buffer of 20% from the deposit collected.
However, the cancellation will still be negative on sentiment. It is likely to affect the share price of YZJ and other shipbuilders as this is YZJ's first contract cancellation on default (even during the 2008-09 crisis, none of YZJ's contracts was cancelled), and the first sign of possible distress among SGXlisted yards as a result of the European crisis.
Cosco has the weakest clientele, maintain FULLY VALUED. In our latest Singapore strategy report “Back to Yield Plays” dated 21st may 2012, we had advised avoiding stocks with European exposure. Cosco Corp has the highest exposure to Greece and Europe at more than 60% of orderbook. 28% of its orderbook comes from financially vulnerable Norwegian customer, Sevan Drilling, 22% from China and 19% from Greece. Only one third of its customers are Asian-based. In contrast, Yangijizang would be the least affected among Chinese yards in an environment of tighter ship financing on the back of its strong customer base and net cash position. Greek customers account for only 1% of its total orderbook Chinese customers form the largest base at 41%, followed by Germany 22% and Canada 18%. Overall, Asian-based customers accounted for half of its orderbook, and thus its prospects definitely look better.
soruce : http://kfc1973-stock.blogspot.sg/2012/06/customer-defaults-looming-dbsv.html?m=1
Yangzijiang orders cancellation looming?
" Yangzijiang reportedly cancels newbuild contracts as Greek owner defaults. Reports from Lloyd's List and TradeWinds indicate that Nasdaq-listed FreeSeas, a Greek shipowner, has defaulted on payments for two newbuild bulk carriers being built by Yangzijiang (YZJ), after its financier ABN Amro terminated the financing agreement for the newbuild vessels. FreeSeas had ordered the two 33,600dwt bulkers from YZJ in August 2010, for an aggregate price of U$48.8m. The vessels were scheduled for delivery in 2Q12 and 3Q12. There is no formal announcement from YZJ on this matter yet. "
( Source: Customer defaults looming? (DBSV))
Respect!
neo8180 ( Date: 18-Jun-2012 13:01) Posted:
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Singapore-listed Yangzijiang Shipbuilding (Holdings) said on Tuesday it has sold its entire stake in Wuxi Runyuan Technology Microfinance Co Ltd.
Yangzijiang's unit Jiangsu Yangzijiang Shipbuilding Co Ltd had a 31.5% in Wuxi Runyuan, which it sold for 103.95 million yuan ($20.7 million), the company said in a statement.
(Source: Yangzijiang sells stake in microfinance firm )
DISPOSAL OF THE ENTIRE 31.5% STAKE IN THE SHARE CAPITAL OF WUXI RUNYUAN TECHNOLOGY MICROFINANCE CO., LTD 1. The Transaction
The Board of Directors of Yangzijiang Shipbuilding (Holdings) Ltd. (" Yangzijiang" or the " Group" ) wishes to announce that its wholly-owned subsidiary, Jiangsu Yangzijiang Shipbuilding Co., Ltd (" JYSCO" ) has entered into an Equity Transfer Agreement (the " Agreement" ), pursuant to which JYSCO will dispose the entire 31.5% equity stake in the share capital of Wuxi Runyuan Technology Microfinance Co., Ltd (" WRTMCO" ) (the " Disposal" ).
董 事 局 謹 代 表 揚 子 江 船 業 控 股 有 限 公 司 （ 以 下 簡 稱 " 揚 子 江 " 或 " 公 司 " ） 宣 布 揚 子 江 通 過 其 全 資 子 公 司 ,江 蘇 揚 子 江 船 廠 有 限 公 司 (以 下 簡 稱 " 江 蘇 揚 子 江 " )， 簽 訂 轉 股 協 議 出 售 其 中 國 子 公 司 -無 錫 市 潤 元 科 技 小 額 貸 款 有 限 公 司 （ 以 下 簡 稱 " 無 錫 潤 元 " ） 全 部 31.5%的 股 權 。
2. Consideration 支 付 對 價
The consideration paid for the Disposal is RMB103,950,000 which is equivalent to the 31.5% of total paid-up capital of WRTMCO with a premium of 10%. The amount of the consideration was arrived at after arms’ length negotiations on a willing buyer willing seller basis and taking into account, inter alia, the paid up capital and the valuation report issued by an independent valuer, Wuxi Youxin Assets Appraisal Co. Ltd, on 7 June 2012.
出 售 對 價 為 人 民 幣 1
This guy will receive good karma. He has been receiving that is why so rich and such a benevolent philanthropist. He will still be receiving good karma for sure.
neo8180 ( Date: 18-Jun-2012 13:01) Posted:
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" ...Ren Yuanlin actually donated the dividends derived from his 26 per cent stake in Yangzijiang for the financial year ended Dec 31 to Yuanlin Charity foundation...."
Looks like con job.....
alanbiz ( Date: 13-Jun-2012 16:35) Posted:
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Yangzijiang Shipbuilding Holdings Ltd.
- Why weren’t investors informed about this donation earlier? (2012/06/13 09:45AM) Chairman donates 27.83% equity stake in the group [6/13/12] – Yangzijiang Shipbuilding’s founding Chairman, Mr Ren Yuanlin, has donated US$750 mln worth of his stocks in the group to Yuanlin Charity Foundation which helps senior citizens in China. According to a report in Irish Times, Mr Ren Yuanlin gave away 27.83% equity stake in the company in March this year. The report quotes the Chairman saying, “in China there is the one-child policy. All the babies are much loved by their parents. But eventually society will become old and there will be a lot of problems because [each of] those one child children will have to look after two old people.” This event is of significant importance to the shareholders of Yangzijiang Shipbuilding as it remains unclear if Mr. Ren will continue to serve as the Chairman and more importantly, when and how will the Yuanlin Charity Foundation monetise these shares? The sale of these shares in open market will have a major impact on the stock price. Also, the buyer(s) of this large equity will call the shots at the group. Many investors would also question if this was the right time to make such a philanthropic decision, given the global economic scenario? According to Wealth-X’s intelligence, the 27.83% stake is worth US$775 mln at S$1 per share. This represents 89% of Mr. Ren Yuanlin’s entire wealth and after this donation his net worth falls to US$95 mln only, adds Wealth-X. In 2011, Mr. Ren Yuanlin was ranked 84th in Forbes Billionaires list for China with US$1.1 bln net worth. The Forbes website also says that he has applied for ‘Hong Kong abode’. Investor Central. We ask the questions that need to be asked: 1. Mr. Ren Yuanlin has surprised everyone on the street by his philanthropy. More surprising is the secrecy about the deed which is a big development (might be biggest after the IPO) for the shareholders of the group. And this is the question haunting every mind, why weren’t the investors informed about this deed earlier? Why did it take a news report in Irish Times to reveal all? 2. Yuanlin Charity Foundation will certainly liquidate the equity investment as and when it needs. The bigger concern is the impact of any such move on the stock price and consequently, shareholders. Has Mr Ren signed any agreement to this effect? 3. Given that he has donated almost 90% of his equity stake in the group, will he still remain in charge of the business? Will he continue to serve as the Chairman of the group? Who will call the shots at the group now? 4. This raises a question that why did he not sell the investment to eligible investor(s) and then, donate the proceeds? 5. Was this the right time to make such a philanthropic decision, given the global economic scenario? 6. Did he not require any regulatory approval before taking such major decision? 7. The Forbes website says that Mr Ren has applied for ‘Hong Kong abode’. Is he planning for his retirement? Will he remain associated with the group? 8. How would Mr Ren justify his move to all those investors who bought shares in the IPO (in Singapore and Taiwan) only because of leadership qualities of Mr. Ren Yuanlin? What is the succession plan at Yangzijiang group? We are sending these questions to the company to invite them for an on-camera interview, and/or seek their written response. Key ratios: Price-book: 1.4x Yield: 5.45% Cashflow: (RMB5.58 bln) Total cash & equivalents: RMB3.15 bln Major shareholder(s): Newyard Worldwide Holdings (26.06%), Lido Point Investments Ltd (10.27%), Hong Kong Hengyuan Investment Ltd (8.28%) Management: Yangzijiang Shipbuilding was ranked 550th in the Governance & Transparency Index, with a score of 24points. DISCLAIMER: Information in this message is confidential. It is intended solely for the person or the entity to whom it is addressed. If you are not the intended recipient, you are not to disseminate, distribute or copy this communication. Please notify the sender and delete the message and any other record of it from your system immediately.
Found this " We understand that under the Joint Venture Agreement, SMM can appoint six members to the Board of Directors of PPL Shipyard, while PPLH can appoint 3 members. However, SMM and PPLH will each have 50% voting rights in the board of directors."
(source: Could PPL Shipyard change the competitive landscape?)
15% stake carried 50% voting.. No wonder Yangzijiang interested..
Hunter2011 ( Date: 12-Jun-2012 09:32) Posted:
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