Latest Posts By chendol
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| 26-Apr-2007 16:25 |
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Why is the price dropping when it is supposed to be cum bonus share 2 for 1. Any gurus care to commend? | ||
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| 10-Apr-2007 12:56 |
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bonus 1 for 2 shares coming soon, any one aware of what will be most likely Books closure date for the bonus shares. so far the price has'nt run up yet. |
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| 18-Mar-2007 21:13 |
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Seems to be on a strong uptrend. Both Acc/Dist and Chaikin are increasing. | ||
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| 17-Mar-2007 05:00 |
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chookk, Thanks for your info. | ||
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| 17-Mar-2007 02:42 |
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CSE Global March 15 close: $1.41 CITIGROUP RESEARCH, March 14
UPBEAT assessment: Our meeting with CSE's CEO and CFO has reaffirmed our view of a strong business environment for the oil and gas industry; thus we remain comfortable with our 25 per cent 2006-09 EPS CAGR growth forecast. CSE exited 2006 with a record $300 million orderbook but it has yet to peak (exceed $400 million in 2007). We expect more contract wins and maintain our 'buy/ medium risk' rating. Cross-selling synergies: CSE's customer adjacency strategy of cross-selling telco services to existing customers is progressing well. Telco ($74 million; 22 per cent of 2006 sales) should outpace overall group revenue this year to deliver 50 per cent year-on-year growth, reaching $110 million in sales. The management aims to maintain Telco's more than 30 per cent gross margin and expand the current revenue base to reach around $200 million by 2009. More upside from Healthcare? Under a new system, individual trusts in the UK will have flexibility to select their own healthcare solution and not rely on the vendor selected by the cluster. This widens CSE's addressable market as it allows it to target clusters (eg Eastern) where it previously had no access. We are also confident CSE will secure the Southern cluster project (30 million or $89 million) by 2H07, potentially boosting our 2007 forecast by around 7 per cent. Higher dividend payout: CSE has proposed one bonus share for every two shares, but the management indicates it aims to maintain dividend per share. Therefore, its 2007 dividend payout ratio would exceed 40 per cent, above our 32 per cent payout forecast. Valuations: The stock trades at a PE of 11 times 2007E earnings (0.3 times PEG) with more than 30 per cent ROE, yet offers 25 per cent EPS CAGR potential over the next three years. We are adjusting our estimates slightly following results and are introducing 2009 forecasts. BUY |
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