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2701-2720 of 4713
On Tuesday, Yangzijiang re-test the resistance at $1.90 and closed at $1.88 with LOW volume of 6.76 million shares traded.
A black candle stick with long lower shadow similar to hanging man indicates that rally has lost its strength and traders are selling it off.
RSI & MACD are flat as RSI trend sideway.
Immediate Resistance of Yangzijiang: $1.90
Immediate Support of Yangzijiang: $1.85
Currently prices are supported by 100 days MA
It is............ READ MORE
DBS Group Research . Equity 12 April 2011
Yangzijiang (Buy, TP: $2.60) has entered into a total of 6 shipbuilding contracts worth S$214.2mil in March 2011. The vessels secured are scheduled for deliveries from 2012 to 2013. With these, Yangzijiang’s announced contract wins stands at USD841mil or 27 vessels from Jan-Apr that makes up 56% of our USD1.5bil order assumption for FY11. Our analyst leaves assumption unchanged for now but potential upgrade will be if there is a massive USD2.2bil order win from Seaspan
Torpedo at 1.89 ..
UPDATE ON SHIPBUILDING CONTRACTS ENTERED BY THE GROUP
http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_E4F371C48BF0691C4825786F002EF9D0/$file/Announcement20110411.pdf?openelement
slow breakout..1.9-1.92..
BREAK OUT !!! 1.89 CHIONG AH!!! :)
ozone2002 ( Date: 07-Apr-2011 14:47) Posted:
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1.87 resistance..breakout above will move higher
Nomura reiterates Buy on Yangzijiang undervalued
| Written by Dow Jones & Co, Inc |
| Tuesday, 08 March 2011 11:07 |
Nomura reiterates its Buy call on Yangzijiang Shipbuilding (BS6.SG), tweaking its target to $2.30 from $2.22. It says despite a robust 4Q10, which was followed by a 9% consensus EPS upgrade, the stock has underperformed the broader market by some 4% since the results as investor concerns mount over its diversification plans and growing investment income.
“We believe YZJ is undervalued on an SOTP basis and the market has under-appreciated the potential of a around US$1 billion ($1.27 billion) containership order (ten 10,000-TEU containerships that YZJ is discussing with an European shipowner).”
It adds “although the market does not appear to favour management’s diversification strategy (plans to invest in property development), we believe the current share price (down 12% from its recent peak vs the STI’s 9.5% fall) presents an attractive entry level, with 27% potential upside as implied by our price target.”
The house notes diversification and growing cash management activities are intended to mitigate an expected earnings decline in 2013 after YZJ’s high-margin orders are delivered over 2011-12. The stock is down 1.1% at $1.80.
Yangzijiang Shipbuilding: Investing for the future
Summary: Yangzijiang Shipbuilding (YZJ) announced that it has increased its interest in Jiangsu Xinfu Shipbuilding from 20% to 60% at a cost of US$57.15m, and the group now plans to carry out shipbuilding activities instead of ship breaking and repair at this yard. The Xinfu yard already has a shipbuilding license and enjoys a huge production area of about 166 ha, which would be suitable for building large vessels like VLCCs. YZJ also said that its subsidiaries have set up a new company (registered and paid-up capital of RMB100m) to provide services that will facilitate the sale and export of vessels.
The investment is expected to reduce the dependency on such services by third parties. Finally, one of its subsidiaries will also subscribe for a 20% interest in the capital of Jiangsu Renhe New Energy Industrial Investment Centre (total issued capital expected to be RMB2.5b), a venture capital fund. Management believes that this investment should enhance the management’s expertise in cash redeployment. These latest developments have been consistent with the group’s strategy of expanding shipbuilding capacity, widening its range of services and increasing its investment returns. Maintain BUY with S$2.36 fair value estimate. (Low Pei Han) iocbc
// 2.20-2.35, my tgt. somehow her " fair value estimate" is acceptable to me
//bad strategy move at this moment. Bdi slide becos of oversupply of shipping vessels. rate can becomes cheaper due to competition.
long term still OK (sign of growing up). Becos New ship would become Old ship one day...
" many ships have gone not due to valuation but rust"
YangZiJiang: Announced that it has increased its stake in Xinfu from 20% to 60% for US$57.2m. Xinfu is located at Taixing City, and its principle activities are shipbuilding, ship repairing, and production and processing of large scale steel structures. Acquisition will see grp’s shipbuilding capacity double by 2013.….
Xinfu owns a shipyard that is currently under construction. The initial plan for shipyard was for ship breaking and ship repairing as a supplementary business. In consideration of YZJ's plan to enhance its shipbuilding capacity, grp has decided to invest Rmb4b in Xinfu over 3 yrs to change it into a shipbuilding yard. This yard,once complete, would be ideal for building large vessels eg, Very large crude carriers (VLCCs), containerships etc…..
Yard is expected to start operations in early 2013 and once fully operational, should have an annual capacity of up to 3m DWT or the equivalent of 10 VLCCs or 12 10,000TEU containership vessels. YZJ's capacity as at Dec 2010 was 2.3m DWT per annum….
Move to expand capacity is positive in our view as YZJ's existing yards have a limit on the vessel sizes that they are able to build, and are both almost operating at full capacity for the next two yrs. Grp’s current orderbook stands at approximately US$5.1b, with this new capacity, YZJ should be able to accept sizeable new orders and scale up its construction capabilities….
At current price, grp trades at 11.1x FY11E P/E, which is compelling vs Cosco’s 18.6x. CS maintain OutPerform with $2.40 TP, calling grp one of the cheapest shipbuilding stocks globally and best positioned among Chinese yards to benefit from a recovery in containership orders, while DB maintans Buy with $2.30 TP. We note that street is generally bullish on stock, with 11 Buy Calls, 3 Hold Calls and 1 Sell Call, with a Mean TP of $2.33.
Xinfu owns a shipyard that is currently under construction. The initial plan for shipyard was for ship breaking and ship repairing as a supplementary business. In consideration of YZJ's plan to enhance its shipbuilding capacity, grp has decided to invest Rmb4b in Xinfu over 3 yrs to change it into a shipbuilding yard. This yard,once complete, would be ideal for building large vessels eg, Very large crude carriers (VLCCs), containerships etc…..
Yard is expected to start operations in early 2013 and once fully operational, should have an annual capacity of up to 3m DWT or the equivalent of 10 VLCCs or 12 10,000TEU containership vessels. YZJ's capacity as at Dec 2010 was 2.3m DWT per annum….
Move to expand capacity is positive in our view as YZJ's existing yards have a limit on the vessel sizes that they are able to build, and are both almost operating at full capacity for the next two yrs. Grp’s current orderbook stands at approximately US$5.1b, with this new capacity, YZJ should be able to accept sizeable new orders and scale up its construction capabilities….
At current price, grp trades at 11.1x FY11E P/E, which is compelling vs Cosco’s 18.6x. CS maintain OutPerform with $2.40 TP, calling grp one of the cheapest shipbuilding stocks globally and best positioned among Chinese yards to benefit from a recovery in containership orders, while DB maintans Buy with $2.30 TP. We note that street is generally bullish on stock, with 11 Buy Calls, 3 Hold Calls and 1 Sell Call, with a Mean TP of $2.33.
ACQUISITION OF ADDITIONAL 40% BENEFICIAL INTEREST IN JIANGSU XINFU SHIPBUILDING CO., LTD (“JXSCO”)
http://www.sgx.com/wps/portal/marketplace/mp-en/listed_companies_info/company_all-in-one_info/!ut/p/c5/pZBLsqIwAEXX8hZgJfJ3SDBB5GNCiPqYUCooUHyC8qRh9c8NdPWg6w5PncG5IAWfdZd39biMVd9dGnAGqZFpgcBC36jQIpRAZe-YgS4odJny4d9_5ZCv_8d2jX_YJ3CGWsZrS4bzeA4W553UC4PhYs-haU_hk09RtKX5MRbIdsi-6WqwB-mj6a-fslOeOvr25U0YxxlicrjNdWmgtCNsWnnjj5fEMuB25RPEYtxtKDoEvijM8D128UsujWqznhvhH39nF9fCbtkxhfPC9_3Pia_zqhkG4wnPD5hVhj-enminwVZRupudedEJWa9VeS1uYdVs9gU6knvi4dAlJXu6NZXvlG1iHap3dINDsNrSudf7I_XqUCDRrLFcKsYeLeV85HNVhLhrRmTgRJL8JSFdDodBjrfmkqhloB884ivZnJNSwDte-ZY17baanfvkItnXF4h2fVuAb5CamePaO80MPud7kQmVKHHXguL1QYVAtkK8W8v7BbB8k70!/dl3/d3/L0lDU0lKSkthWUEhIS9JTlNBQ0lpTXdxSkFCQUpvb0dBIS80QzFiOVdfTnJ4UUMvN19DR0FINDdMMDBHSU43MDJOVEcxVVBFMU8zMC8xNjAyNjA4MjU3MDM!/
Yes you are right, the dividend were what these companies worked out and set aside to be paid out to shareholders.
However the proposal will still need to be verified after auditors had checked and cleared the account for year 2010 and approved by majority shareholders.
These are well managed companies and so far whatever dividend they had worked out in the pass, to be able to be paid out to share holder were cleared and approved.
heavenade ( Date: 01-Mar-2011 17:04) Posted:
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if im not wrong, the dividends now are proposed dividends. subjected to approval during agm.
Tropical ( Date: 01-Mar-2011 17:00) Posted:
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Thank you cheongck. If i buy noble and cosco now, am i entitle to their dividends? Thks.
CheongCK ( Date: 01-Mar-2011 16:07) Posted:
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YZJ - EPS 15.5, Dividend S 4.5cts
Cosco - EPS 11.11, Dividend S 4.0 cts
Noble - EPS 10.11, Dividend US 2.5cts = SGD 3.25 cts
YZJ is just a sitting Rocket Ship
heavenade ( Date: 01-Mar-2011 15:41) Posted:
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should be as previously, ard Apr-May.
Tropical ( Date: 01-Mar-2011 15:36) Posted:
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- Anybody knows when is yzj dividend?
Selldown at huge volume. Tomorrow either jialat or goodlat.
[error]
*4 consideration factors instead of
*2) soaring oil price instead of
krisluke ( Date: 28-Feb-2011 17:39) Posted:
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