Latest Posts By yipyip
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| 08-Oct-2009 14:53 |
Midas
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Midas
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$0.855 coming soon...up |
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| 08-Oct-2009 14:50 |
Tiong Woon
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Tiong Woon
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TWC trading over 51,684,000 units now! $0.850 coming soon! |
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| 08-Oct-2009 14:45 |
Midas
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Midas
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$0.850 now...up up UP |
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| 08-Oct-2009 12:14 |
SoundGlobal
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Epure International
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+0.015 now! 0.595 Good |
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| 08-Oct-2009 11:46 |
Tiong Woon
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Tiong Woon
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New 34,000,000 placement shares has sold out!!! TWC is trading over 49,466,000 units now! daphnecsf est.Price for Oct'09: $0.945 ($0.83 x +3.514% upside per mth x 4mths)! |
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| 08-Oct-2009 10:19 |
Tiong Woon
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Tiong Woon
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Wow. Now TWC is trading at 0.845, and volumn has over 47mln units! I believe the new 34mln placement shares has sold out! Upside is continue! |
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| 08-Oct-2009 00:18 |
Tiong Woon
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Tiong Woon
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I think TWC's price will continue upside (for business expansion plan), on July'09 Midas (FA very solid) was on placement too, their price just go upside. 03Aug09: Midas Price Closed: $0.88 31Jul09: Midas Price Closed: $0.865 17Jul09: Midas Price Closed: $0.815 16Jul09: Midas Price Closed: $0.82 / Trading halt - Placement of 120 million new ordinary shares (the “Placement Shares”), representing 14.2% of the existing share capital of the Company, at the price of S$0.755 per share. http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_E8FFCB9D45120437482575F5004BAB11/$file/NewsRelease-SharePlacement.pdf?openelement |
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| 07-Oct-2009 18:08 |
Tiong Woon
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Tiong Woon
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Based on 5th Oct'09 $0.795 x +14.88%(F) = est$0.915 (price for Oct'09) Based on upside adj.+44.65%(F) (for Yr2010F : Jul'09 to Jun'10) adj.+44.65%(F) / 12mths = +3.72%(F) per mth 4mths x 3.72%(F) per mth = +14.88%(F) (for 4 mths , Jul'09 to Oct'09) Share price return based on closed 5 Oct,09 $0.795: adj.+44.65% Adj. (10.1%) Fair value for 2010'(F) : adj.$1.15 2010'(F) PE ratio: 8.0 EPS based on existing issued share capital (cents): • adj.2010'(F) adj.14.38cents(F) adj.+14.67%(F) • 2009'(A) 12.54cents(A) +51.45%(A) • 2008'(A) 8.28cents(A) The 34,000,000 Placement Shares represent approximately 10.1% of the Company’s present issued share capital of 337,576,410 Shares. The board of directors of Tiong Woon Corporation Holding Ltd (the "Company") wishes to announce that the Company has today entered into a placement agreement (the "Placement Agreement") with CIMB-GK Securities Pte. Ltd. ("CIMB-GK" or the "Placement Agent") pursuant to which the Company has agreed to issue up to 34,000,000 new ordinary shares in the capital of the Company (the "Placement Shares") and CIMB-GK has agreed to use its best efforts to procure the subscription and payment for the Placement Shares, at an issue price of S$0.830 per Placement Share (the "Issue Price"), amounting to an aggregate consideration of up to approximately S$28.2 million, and on the terms and conditions of the Placement Agreement. |
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| 07-Oct-2009 17:28 |
Tiong Woon
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Tiong Woon
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FA still solid, TWC buy more heavy lifting equipments for the provision of mobile cranes and lifting services (3 contracts by Shell). Adj. (10.1%) Fair value for 2010'(F) : $1.15 2010'(F) PE ratio: 8.0 EPS based on existing issued share capital (cents): • adj.2010'(F) adj.14.38cents(F) adj.+14.67%(F) • 2009'(A) 12.54cents(A) +51.45%(A) • 2008'(A) 8.28cents(A) Financial Effects After Placement: Group’s NAV per Share: 54.02 cents +5.18% Earnings per Share: 11.39 cents -9.17% Before Placement: Group’s NAV per Share: 51.36 cents Earnings per Share: 12.54 cents Based on the audited consolidated financial statements of the Group for FY2009, the Group’s net asset value per Share and earnings per Share was approximately 51.36 cents and 12.54 cents respectively. Assuming that the Placement had been effected, in respect of net asset value per Share on 30 June 2009 and in respect of earnings per Share on 1 July 2008, and that all the Placement Shares are issued on the respective dates, the Group's net asset value per Share and earnings per Share, after adjusting for the issue of the Placement Shares, would be approximately 54.02 cents and 11.39 cents respectively. Based on the issued share capital of the Company of approximately S$50.0 million comprising 337,576,410 Shares as at the date of this Announcement and assuming that all the 34,000,000 Placement Shares are issued, on completion of the Placement, the issued share capital of the Company will increase to approximately S$77.4 million comprising 371,576,410 Shares. The 34,000,000 Placement Shares represent approximately 10.1% of the Company’s present issued share capital of 337,576,410 Shares and approximately 9.2% of the enlarged issued share capital of the Company immediately after the completion of the Placement (assuming all the 34,000,000 Placement Shares are issued). |
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| 07-Oct-2009 16:49 |
Tiong Woon
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Tiong Woon
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Use of Net Proceeds The Placement will allow the Company to raise estimated net proceeds (the "Net Proceeds") of up to approximately S$27.3 million (after deducting expenses incurred in connection with the Placement). The Company intends to utilise fifty per cent. (50.0%) of the Net Proceeds for the acquisition of heavy lifting equipment and the remaining fifty per cent. (50.0%) for the general working capital requirements of the Company and its subsidiaries (the “Group”). Pending the deployment of the Net Proceeds, such proceeds may be placed as deposits with banks and financial institutions or invested in short term money market or debt instruments or for any other purpose on a short-term basis as the Directors may in their absolute discretion deem fit from time to time. The board of directors of Tiong Woon Corporation Holding Ltd (the "Company") wishes to announce that the Company has today entered into a placement agreement (the "Placement Agreement") with CIMB-GK Securities Pte. Ltd. ("CIMB-GK" or the "Placement Agent") pursuant to which the Company has agreed to issue up to 34,000,000 new ordinary shares in the capital of the Company (the "Placement Shares") and CIMB-GK has agreed to use its best efforts to procure the subscription and payment for the Placement Shares, at an issue price of S$0.830 per Placement Share (the "Issue Price"), amounting to an aggregate consideration of up to approximately S$28.2 million, and on the terms and conditions of the Placement Agreement. The Issue Price represents a discount of approximately 1.6% to the volume-weighted average market price of S$0.8436 for each ordinary share in the capital of the Company ("Share"), based on trades done on the Main Board of the Singapore Exchange Securities Trading Limited (the "SGX-ST") on 6 October 2009 (being the preceding market day prior to the signing of the Placement Agreement) and up to the time of the trading halt of the Shares on 7 October 2009. In addition, the Issue Price represents a discount of approximately 5.1% to the last traded price of S$0.875 on 7 October 2009. http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_194AC603C65D5139482576480029D0A3/$file/TWCH_PlacementAnnouncement.pdf?openelement |
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| 06-Oct-2009 16:31 |
Tiong Woon
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Tiong Woon
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Upside still intact, good FA for 2010F |
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| 06-Oct-2009 15:23 |
Tiong Woon
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Tiong Woon
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Awarded 3 contracts by Shell (1.for provision of mobile cranes 2.maintenance works 3.Heavy Lift & Haulage) Corporation Holding Ltd (Tiong Woon or TWC) begins fiscal year 2010 on a strong note by announcing today that its wholly-owned subsidiary, Tiong Woon Crane Pte Ltd, has been awarded two contracts by Shell Eastern Petroleum (Pte) Ltd (SEPL) and Shell Chemicals Seraya (Pte) Ltd (SCSL) for the provision of mobile cranes and lifting services to the mono-ethylene glycol (MEG) plant and the Seraya plant on Jurong Island respectively. At the same time, Tiong Woon Crane Pte Ltd was also awarded another contract by SEPL to provide safe and proper lifting and transport services for the Shell Bukom plant. For confidentiality reasons, Tiong Woon is unable to disclose the contract amounts. +The first contract shall be for a period of five (5) years beginning on 1 January next year and ending on 31 December 2014, with an option to extend for a further period of no more than five (5) years. +The second project shall also be for five (5) years covering the same period. +The third deal is targeted to start on 1 October and end on 30 September 2014 and comes with an option for a further two-year extension. SINGAPORE, 29 Sept 2009 – MAINBOARD-LISTED Tiong Woon |
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| 06-Oct-2009 10:15 |
Yongnam
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Future Of Yongnam 1/12/2008
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Yongnam Holdings:Yongnam sees more orders as billions are poured into infrastructure With billions earmarked for infrastructure projects over the next 10 years, steel fabricator Yongnam Holdings is well poised to bag more orders. Since the start of the year, shares of Yongnam have surged 210% to close at 29.5 cents, versus the Straits Times Index’s rise of 48%. But, analysts say Yongnam could enjoy a further 25% upside as potentially large orders flow in. CIMB-GK concurs, saying that the outlook remains excellent for Yongnam, especially in Singapore where the government has committed to spending $15 billion to $17 billion on infrastructure, including rail and road development, for both 2010 and 2011. As such, the brokerage has raised its earnings forecasts for FY2009 to FY2011 by 1%, to 67%.
For FY2009, revenue is projected to rise 12% to $373 million, and earnings to rise 21% to $41 million. For FY2010, revenue is expected to increase 7% to $400 million, and earnings 11% to $45.6 million. Based on 10 times calendar year 2010 earnings, which is at the low end of Yongnam’s mid-cycle multiples, CIMB-GK has raised its target price from 28 to 37 cents.
Credit Suisse has an “outperform” on the stock, with a fair value of 35 cents, up from 30 cents. Research analyst Chua Su Tye expects Yongnam’s order book to reach $700 million by FY2010, as “going forward, we see strong earnings growth visibility for Yongnam, extending into FY2011”.
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| 06-Oct-2009 09:52 |
SoundGlobal
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Epure International
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| 06-Oct-2009 09:42 |
Wilmar Intl
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WILMAR Funds-HANDS-OFF RISE & fall DEMO 13Aug2009
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Wilmar International to buy 16.7% stake in Three-A Resources Wilmar International to buy 16.7% stake in Three-A Resources Wilmar International, the world’s biggest palm oil trader, will invest 46.2 million ringgit ($18.3 million) for a 16.7% stake in Three-A Resources Bhd., a Malaysian food manufacturer. Wilmar plans to subscribe to part of a private placement by Three-A, which is seeking to sell as much as 20% in new stock at 75 sen each, the Malaysian company said in a statement late yesterday. The share placement will be completed in the fourth quarter, it said. Shares of Three-A jumped 16% to close at 96 sen yesterday, the biggest increase since Jan. 5, 2006. Bloomberg 06 Oct 2009 |
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| 06-Oct-2009 09:20 |
Tiong Woon
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Tiong Woon
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Fair value: $1.24 Share price return based on closed $0.795: +55.97% 2010'(F) PE ratio: 8.0 EPS based on existing issued share capital (cents): • 2010'(F) 15.50cents(F) +23.60%(F) • 2009'(A) 12.54cents(A) +51.45%(A) • 2008'(A) 8.28cents(A) • Positive outlook. With crude oil prices above US$70/bbl, activities in the oil & gas sector should be brisk as projects are revived. Management indicated that demand has been very strong from oil & gas customers, and that TWC does not have sufficient machines to meet all customers’ needs and may have to procure new machines. Share-price catalysts are expected to include new contract wins for oil & gas projects. • Maintain Outperform. We raise our FY10-11 forecasts by 63-66% on continued strong demand and steady margins from oil & gas and petrochemical customers for its heavy lift & haulage segment. We also introduce FY12 forecasts. Still using an unchanged 8x CY10 P/E, its mid-cycle valuation multiple. From CIMB Aug'09 |
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| 05-Oct-2009 00:20 |
Tiong Woon
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Tiong Woon
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Tiong Woon posts record net profit of S$42m and revenue of S$202m for FY2009 Financial Year Ended 30 June 2009 Turnover FY'2009 $202.3mln FY'2008 $157.8mln +28% Total profit FY'2009 $42.4mln FY'2008 $28.3mln +50% Turnover S$'000: Heavy Lift and Haulage FY'2009 $130,591 FY'2008 $99,236 +32% Marine Transportation FY'2009 $10,892 FY'2008 $12,557 -13% Fabrication & Engineering FY'2009 $47,016 FY'2008 $26,400 +78% Trading FY'2009 $13,781 FY'2008 $19,580 -30% Turnover FY'2009 $202,280 FY'2008 $157,773 +28% |
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| 04-Oct-2009 23:47 |
China Hongxing
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Good News for China Hongxin
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China Hongxing Sports downgraded to hold 02/10/2009 Kim Eng Research in an Oct 2 research report says: "CHHS’s intention to buy back shares in 3Q09 did not materialise. With the share purchase mandate approved, we believe it is a matter of time that the company executes share buy-back, possibly at lower share price levels. "Subjected to the maximum limit of 10% of the issued ordinary share capital, the group could buy back up to 280 million shares. The group is seating on a huge pile of net cash of RMB2.67 billion as at June 2009. Assuming a dividend payout of 20% that is in line with past trends and the share buy-back program to be activated, we estimate that only a mere RMB350 million could be returned back to share holders. We continue to peg the stock to 8x FY10 PER, a 40% discount to its HK peers that is in line with its smaller store network and weaker earnings. Target price of 23 cents. DOWNGRADE TO HOLD." Kim Eng Research |
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| 02-Oct-2009 16:14 |
Tiong Woon
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Tiong Woon
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Tiong Woon Corp Holdings upgraded to buy The Edge, 29 Sept 2009 AmFraser Securities in a Sept 29 research report says: "Tiong Woon announced successful launch of pipelay barge. With this, the company has completed its portion of the construction of the 146.3-metre derrick pipelay barge for NorCE Offshore. Under the $64.8 million contract, they were primarily responsible for building the hull and major sections of the vessel as well as installing the owner’s equipment. "The successful launch of the vessel is a milestone event that brings them nearer towards receiving their $64.8 million payment. The receipt of this contractual sum will lower their gearing and remove the drag on their cashflow in FY2010. In view of this, we are lowering the risk premium to arrive at a fair value of $1.17, representing 8.6 times FY2010 earnings. UPGRADE TO BUY." |
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| 02-Oct-2009 16:11 |
AusGroup
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AUSGROUP: 1H09 revenue up 28.8% to reach A$260.5 m
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Ausgroup rated outperform The Edge, 30 Sept 2009 CIMB in a Sept 30 research report says: "AusGroup provides fabrication, construction and asset maintenance services to the oil, gas and mineral resource industries. Capex for the Gorgon LNG project in Western Australia has been projected at A$43 billion. Tendering for various contracts is underway and we believe AusGroup can secure an initial A$125 million contract in FY2010. "AusGroup is bidding for A$2 billion worth of orders in LNG and mineral resources over the next 12 months. We estimate its order book could grow by 25% to A$500 million by June 2010 from A$400 million currently. AusGroup is trading at a market cap to order book of 0.74x, a discount to its 3-year average of 1.34x. On a forward P/E basis, it is trading at 9x for CY11, below its historical 13x average. We see a buying opportunity. Target price of $1.08. OUTPERFORM (initiating coverage)." |
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