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| 25-Sep-2013 09:51 |
YZJ Shipbldg SGD
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Cruising with the ship ..Yangzijiang
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Shipping industry ripe for bargain-hunting Source: Shares urban network 2013-09-24 16:16:06 This year, some of the strongest ship enterprises and keen sense of smell investment (speculative) hunters who have started to increase the intensity. Norwegian shipping magnate, Italian shipowners, China Shipping Group, Sai Sipan, K-line, Mediterranean Shipping, CIMC, and CSAV and other enterprises in batch-made large vessels. According to the China Shipbuilding Industry Association statistics, the first half of the country to undertake new ship orders grew by 113.2 percent year on year, of which export ship orders to undertake is to achieve an increase of 163.3%. Investment Advisor in the transportation industry researcher Cai Jianming said the whole, the three major market segments worldwide shipping overcapacity, insufficient demand is still very prominent in the short term the shipping industry to enhance the probability of recovery is not large. The number of hunters shipbuilding aviation enterprises are forced helpless choice of market competition, although the cost per tonne decline, but it will further deepen the contradiction between supply and demand, thus postponing the entire industry was recovering. The recovery of the shipping industry in the global economy enterprises rely warm recovery. Although the U.S. economy has been showing the current recovery trend, it is coming out of Europe's debt crisis, the global real significant, rapid signs of recovery did not occur. Economic recovery driven trade, boosted corresponding end demand is not obvious. Short-term boost to the market demand is more reflected seasonal factors, rather than the industry cycle warmer. Significant boost in demand is still nowhere in sight, oversupply is still prominent in the moment, many aviation enterprises will only intensify competition for ship excess supply capacity. Industry competition is probably a lot of aviation enterprises currently have to make capacity expansion reasons, but in the current industry downturn in the short term is still present, the ship competition, capacity expansion or only add to the burden on enterprises is not conducive to business through Industry strict control. Moreover, hold together for warmth, cooperative control capacity is the winter of aviation enterprises have more feasible and effective option. Investment Advisor Industry Research Manager Guo Fan Li pointed out that the downturn in the market for several years have been so many aviation enterprises, shipbuilding enterprises feel more difficult to survive, and even decline in performance loss is almost universal phenomenon. The shortage of funds, bank loans tightened financing more difficult cases, the aviation enterprises, the expansion of shipping enterprises blind hunters are not sensible, is not conducive to their survival and development, and industry to pick up recovery. Investment Advisor in the release of " 2013-2017 China Shipping Industry Investment Analysis and Forecast Report" that the bottom of the cycle in the industry, the " turnaround" has become the highlight of the Air Enterprise Performance wording. China COSCO, China Shipping Development, CSCL, COSCO shipping only through the realization of assets, capacity, route adjustments, and other ways to improve performance. At the same time, the majority of aviation enterprises gearing ratio upward trend, operating cash flow also showed a negative state, the credit risk is gradually accumulate.
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| 25-Sep-2013 09:44 |
Midas
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Midas
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CSR Yangtze jailed former chairman of bribery 6,000,000 illegal possession of firearms2013-09-25 02:57 China Securities Network September 19, Mid-Autumn Festival, in Wuchang vehicle plant near the site, a group of over 60 years of CSR Yangtze Co., Ltd. shares (hereinafter referred to as CSR Yangtze) workers gathered together, they would like to inquire has been placed on file the original company sued Cao Yang, chairman of the current situation.
2007, CSRG integration of its trucks resources, Zhuzhou, Wuchang, riverbank, Tongling and Qishuyan Rolling Stock Plant (truck parts) 5 vehicle factory merged to form CSR Yangtze, the former Zhuzhou Rolling Stock Works Director Cao served as general manager of the new company. Separated by about three years, on suspicion of corruption and other issues, Cao investigation by prosecutors, and thereafter, the outside world can no longer be the case that Cao progress. Recently, the reporter received a Hubei Provincial Higher People's Court No. (2011) Hubei sentence three anti-Zi No. 13 Criminal Court of Final Judgment, the content is displayed, although once the appeal, but Cao's fate has not changed, found guilty of accepting bribes and illegal possession of firearms, Cao was sentenced to 15 years imprisonment and confiscation of property 600,000 yuan. Five plants combined CSR Yangtze headquartered in Wuhan, Hubei Province Jiangxia Bridge new zone. This part of China South Locomotive Co., Ltd. company, is currently the largest truck CSR's R & D, manufacturing, sales and service enterprises, the latter from the previous Zhuzhou Rolling Stock Works, Wuhan riverbank vehicle plant, Tongling Vehicle Factory, Wuchang vehicle plant and Qishuyan Rolling Stock Plant (truck parts) from integration. That time, the global value is re-understanding of the railway, the North American truck into a retirement peak. In the domestic market, great speed railway development has started |
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| 25-Sep-2013 09:31 |
YZJ Shipbldg SGD
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Cruising with the ship ..Yangzijiang
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fund A message fund B ,
Eat your breakfast today. b reply : no I full , yesterday happy hours . A reply: then had a coffer time. ( break time) ===== Hard to find the global shipping market rules
Source: International Business Daily 2013-09-25 08:21:16 August 30, Shanghai Shipping Exchange, Shanghai exported container freight index closed at 1109 points, down 4.6 percent from the previous month. Which the European line $ 1,183 / 20 ft containers (TEU), down 21.2% America West $ 1,965 / 40 foot container (FEU), down 5%. Following the July export growth rate both from negative to positive, the continuation of China's foreign trade in August mild warming trend. Customs statistics show that in August, China's exports of 190.73 billion U.S. dollars, an increase of 7.2%, higher than the 2.1 percent increase the previous month. But the port's container throughput has not been enlarged, according to the Ministry data show that in August of above-scale port container throughput 16.38 million TEU, an increase of 6.6% compared to July growth rate slowed 2.6 percentage points. Because port container growth is less than expected, coupled with numerous previous season full of expectations for the shipping companies, the capacity control is relatively relaxed, especially large boats have been put into the market, the capacity and demand in a weak state of equilibrium, liner companies is more difficult to achieve the target price . August price increase has not yet firm, began in mid-turn down, despite Composite Index rebounded late, but still the previous month decreased by about 5%. July is the peak season prices are not effectively extend, Shanghai starting 15 major freight routes up and down, but the mainstream routes without a rise, especially in Europe fell in line more than 20 percent, growth has been relatively stable line of the Americas also there are different degrees of decline. Since the off-season coupled with the capacity to relax, Australia and New Line average space utilization has dropped to below 70%, part of the voyage freight rates have been as low as $ 350 / TEU, at historically low levels. Overall, the August high season prices far better than expected, nor the level of last year. Into the second quarter, affected by the capacity of supply and demand, peak season surcharge hard landing, tariffs rise is limited. Several shipping companies have been the first half of the loss of semi-annual report released in the third quarter of the season market is directly related to the overall situation of the liner company's ability to turnaround, September is the last month of the season, liner companies face final exams. Fortunately, the current is still in the traditional peak season, October National Day Golden Week draws near, holiday shippers have to rush at the factory before shipment focus, coupled with the steady rise of the national economy has signs of growth in exports, or to be brought before the holiday wave of small climax, and stimulate freight prices. For this reason, many shipping companies have recently introduced price increases planned over the next two months, hoping to reverse through substantial price increases in the first half of the loss. However, due to the volume of this year's season is relatively stable, there has been no significant increase in market fiery extent than in previous years, coupled with the launching of large vessels continues, we must continue to push up freight rates substantially more difficult, unless pre-holiday volume over expected growth, otherwise the market is likely to export season curtain call in advance. BDI ore freight rates soaring two-year high August 30, the dry bulk wave Exchange closed at 1,132 points, up 6.6 percent from the previous month. Which Capesize 2243 points, up 19.2% Panamax 907 points, down 14.2 percent Supramax vessel 909 points, up 3%. After finishing a slight pullback in July, a strong rebound in Capesize under tariff August to resume its rally, the Baltic Freight Index (BDI) reached 1169 points, a record high of nearly two years. Since early June since rebounded, BDI has 3 consecutive months to stabilize at a thousand points above show thousands of points near the strong support. After half a year-long recession, the market began to bottom out, perhaps the international dry bulk shipping market 's most difficult period is over, but the recovery has yet to be further accelerated small boat to pick up. August to promote integrated tariff remains the main driver of rising from Capesize by Chinese ore demand increased significantly positive, its four routes average rental return $ 15,000, of which the maximum weight of the Pacific (601,099, stock it) round-trip voyage rent up to $ 19,000 to start Ben " 2" , the strong characteristics are very prominent. Small boat rally is relatively weak, which Handymax freight continued steady modest growth, and its six routes average rent of $ 9,819, compared with the previous month rose 2.9 percent, exceeded the million is only a matter of time. The only outdated Panamanian ship, its four routes average rent of $ 7,214, representing a 14% decline in the previous month, the Atlantic Ocean (600,558, stock it) roundtrip airline rents decrease up to 30%, dragging down the entire maritime market. From a regional analysis, as overwhelmed by the Chinese imports of iron ore prices driven, so the Pacific regional market to be significantly stronger in the Atlantic region. The end of August and from the Pacific voyage rent of $ 18,000, compared with the previous month, up 44% while the trans-Atlantic round-trip rentals only $ 13,000, compared with a 10% drop the previous month. Panamax, Handymax's performance is also very similar, still better than Atlantic Pacific region. China imported iron ore to make large-scale demand for Capesize blowout, once again the achievements of the international dry bulk shipping market. But did not give extraordinary increase pressure on inventory, inventory does not increase declined. As of the end of August, the number of port stocks 74.75 million tons, down 530,000 tons compared to the end of June, indicating that the recent steel enterprises demand for imported ore tremendous energy. As the international iron ore price has risen to relatively high, three miners will ship internationally strong demand for Capesize vessels caused tension. The nickel ore transport an anti flagging this year's downturn, the market for the Indonesian government to ban the export of nickel ore market rumors detonated. Nickel soaring freight rates led Asia Handymax market rents overall rise. Coastal freight coal plants end speculation strong rebound August 30, the Shanghai Stock Exchange issued a coastal coal freight index closed at 860 points, compared with the previous month increased by 46%. Which Qinhuangdao to Shanghai, Guangzhou and coal freight were 37.6 yuan / ton, 43.7 yuan / ton, respectively, compared with the previous month increased by 57%, 30.8%. Coastal shipping market experienced a year of silence ushered in the explosive rally. As of September 6, the mainstream routes Qinhuangdao - Shanghai coal freight rates exceeded 40 yuan mark, representing the end of July rose by 70%, the big rebound are unprecedented. Qinhuangdao anchorage and other moored ships along with a substantial increase in capacity demand, freight back to profitability. This year's performance uncharacteristically coastal freight. " Summer peak" is not too much to boost coastal freight, Qinhuangdao - Shanghai minimum tariff was close to 20 million. With the " summer peak" coming to an end, demand for coal should be cool, tariffs difficult to rise, while the market unexpectedly strong rebound in the normal manner. The reason, in addition to pre-rational pullback low tariffs, the main domestic coal prices makes imported coal price surges lost price advantage. The plants affected by coal, favorable tariffs significantly reduced, domestic coal market is supply and booming momentum. However, the seasonal pattern of view, as the weather turns cooler, coal demand is getting into the off-season, such as the absence of exceptional circumstances, the coal consumption dropped a foregone conclusion.
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| 25-Sep-2013 09:14 |
YZJ Shipbldg SGD
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Cruising with the ship ..Yangzijiang
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YANGZIJIANG Also do ship repair job, and reengineer job . they also buy 20 % of singapore ppl shipyards share.
Yangzijiang can sell off PPL shipyard share and buy other cheape shipyards in china or drilling company share in enuo company. |
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| 24-Sep-2013 23:29 |
YZJ Shipbldg SGD
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Cruising with the ship ..Yangzijiang
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China's shipbuilding industry revenue fell significantly owners Source: Shipping Exchange Bulletin 2013-09-18 shipping market downturn makes the shipping industry crisis, the shipping enterprises operating difficulties rapid increase in the first half, and has been conducting small and medium sized enterprises to large boat ship enterprises. In a tough market environment, in mainland China and Hong Kong and Singapore-listed six ship all released semi-annual report of listed companies, in addition to relying on non-Sainty Marine boat business to achieve growth, the remaining five vessels listed companies results appear to varying degrees decline. As of August 31, six vessels listed companies achieved a total operating income of 43.527 billion yuan, down 27.4% net profit of 2.873 billion yuan, down 46%. Performance of listed companies in the ship fell sharply, while various shipping prices of new ship orders are sharp rebound. Show substantial growth in new orders ship enterprises darkest period may soon be over, with the pick-up freight shipping market, ship market is gradually dip warmer. But the market is not yet overly optimistic, because the sharp rise in orders ship enterprises operating rate and compression in order to maintain profit margins and offer concessions made on the basis of payment terms, not market demand for complete release. Among these, the large number of " no money" orders ship enterprises will lead to loss of the contract in hand pressure diminished, the estimated loss contract asset impairment losses may be after a long period of time dragged shipping enterprises performance. The sharp rebound in new ship orders ship enterprises did not bring to enhance the performance of the main business. According to semi-annual report, China Shipbuilding operating income of 7.798 billion yuan, down 40.66%. Among them, the ship construction 5.434 billion yuan, 643 million yuan ship repair, shipbuilding 1.662 billion yuan net profit of 55.725 million yuan, down 88.2%, EPS was 0.04 yuan. Excluding extraordinary items, net profit of China's shipbuilding only 130.35 billion yuan, down 97%, much lower than market expectations. In the first half operating income of 25.114 billion yuan China Heavy Industries, down 13.95% net profit of 1.459 billion yuan, compared with 2012's 2.572 billion yuan over the same period fell 43.4 percent, after deducting non-recurring gains and losses net profit of 1.41 billion yuan year on year decline reached 42.19% cash flow generated from operating activities Net -45.69 million. Performance of listed companies in the main ship are falling sharply at the same time, Sainty ship in the first half operating income of 1.27 billion yuan, an increase of 16.48% net profit of 72.83 million yuan, an increase of 95.89%, however, after deducting non-recurring gains and losses, which net profit of 39.41 million yuan, an increase of 53.59%. Sainty ship can contrarian growth performance is mainly due to non-ship trading business achieved operating income of about 627 million yuan, an increase of 266.47%. And its shipbuilding industry, operating income was 637 million yuan, down 29.62%, gross margin was 14.89%, up 4.5 percentage points.
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| 24-Sep-2013 23:22 |
YZJ Shipbldg SGD
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Cruising with the ship ..Yangzijiang
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Shipbuilders' Losses Seen WideningCSSC Jiangnan Heavy Industry Co Ltd, the first domestically listed shipbuilder to unveil interim results, reported losses and said it saw a sharp decline in revenue for the first half. The company said it was hit by a bearish shipbuilding market, shrinkage of machinery demand and intensifying competition in the market. CSSC Jiangnan Heavy Industry - the Shanghai-listed arm of China State Shipbuilding Corp, one of the nation's largest shipbuilders - said late Sunday that its first-half revenue dropped 39.49 percent year-on-year to 319 million yuan ($51.63 million), and it reported a loss of 61.52 million yuan for the same period. It added the market is still sluggish and that orders are drying up, which dragged down both its core business and its non-shipbuilding revenue. Last year, the company posted 76.05 million yuan in net losses, down 299 percent year-on-year, a stark contrast with the 38.21 million yuan in net profit reported in 2011. Analysts said the shipbuilding industry is still deep in the doldrums and supply has exceeded demand by 30 percent, implying that overcapacity still persists even though no ships are expected to be manufactured in the next few years. Data from the Ministry of Industry and Information Technology showed only 20.6 million deadweight tonnage (DWT) in orders were completed from January to June nationwide, down 36 percent year-on-year, and that Chinese shipbuilders' orders in hand dropped 13.4 percent to 108.98 million DWT as of the end of June. The core business revenue of 80 major shipbuilding companies declined 22.4 percent to 84.1 billion yuan from January to May. In a bid to return to profits, CSSC Jiangnan Heavy Industry accepted orders for products such as steel structures, machinery and other shipbuilding equipment projects. The company is scrambling to get more orders from its non-core business sector to secure its annual target. Meanwhile, as shipbuilding companies are posting hefty losses, the major Chinese banks are starting to tighten credit lines for the sector, which may compound difficulties and make it more difficult for the companies to overcome the current slump. A Reuters report said that shipbuilders are being required to collect at least 15 percent in down payments from their clients per order before applying for loans from commercial banks. " We've seen many shipbuilders struggling to continue their business through shifting their focus to tertiary industries, such as logistics, and accelerating steps to eliminate outdated capacity," said Wu Jiangtao, an analyst with Northeast Securities. Guidelines to promote the development of the nation's shipbuilding industry are expected to be rolled out in the second half. The measures may include tax cuts for shipping companies and a special fund to subsidize the elimination of old ships to support the ailing shipbuilding and shipping industries, Wang Jianmin, vice-president of the Shanghai Shipping Exchange was quoted as saying by the Oriental Morning Post. " It's painful for shipbuilding companies to wade through the industrial downturn, but that's the cost of a market-oriented industry," said Liu Pan, an analyst with Xiangcai Securities. Insiders all seem to have a dim view regarding an immediate recovery of the shipbuilding industry. " For shipbuilders, 2011 was gray, 2012 is black, and 2013 will be bloody," said Ren Yuanlin, the chairman of the Yangzijiang Shipbuilding Group Ltd. Ren added that he expects the bearish conditions to persist for at least five years. |
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| 24-Sep-2013 23:18 |
YZJ Shipbldg SGD
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Cruising with the ship ..Yangzijiang
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you mean this news ? New Order: Poison for Shipyards?
â??New orders are now like poison for shipyards - the more you take, the sooner you dieâ?? Peng Changqing, leader of Nantong COSCO KHI Ship Engineering Co., Ltd. (NACKS) said.
According to Jiangsu Economic and Information Technology Commission (JSEIC), if no more new orders feed the shipyards under current capacity, most small and medium shipyards are likely to shut down. JSEIC made such â??warningâ?? analysis according to the H1 statistics of Jiangsu shpbuilding industry.
In the first six months, Jiangsu shipyardsâ??s newbuilding output volume and order backlog fell by 32.9% and 17.5% separately while new orders increased by 189.7%. However, the new order spree does not mean overall bull market for all shipyards. Of the listed 66 shipyards, only 23 builder secured new orders. Two out of the 13 key shipyards wins â??zero orderâ?? in the period.
Short-handed new orders, global shipping recession, low ship price, growing â??pickyâ?? owners and lasting weak financing support have driven more and more shipyards to the edge of the cliff.
According to Peng, â??only 100 out of the 3000 shipyards can survive in the battle and most of them are face lack of capital currently .â?? The â??price warâ?? for the rare new orders makes more shipbuilding enterprises confront losses.
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| 24-Sep-2013 22:52 |
YZJ Shipbldg SGD
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Cruising with the ship ..Yangzijiang
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Economic Economic Economic Economic / Sector / Sector / Sector / Sector / Sector / Sector Newsâ?¦ Newsâ?¦ Newsâ?¦ Newsâ?¦ The Ministry of Manpower (MOM) will raise the qualifying monthly salary for new employment pass (EP) applications from S$3,000 to S$3,300 from January 1, 2014. This move comes " in line with rising salaries" and means that young foreign professionals applying for the pass to work in Singapore must draw a salary of at least $3,300 a month, MOM said on Monday. As has been the case, more senior applicants will have to command higher salaries to qualify, commensurate with the work experience and quality they are expected to offer. The last adjustment to the qualifying salary threshold was made in 2012 and the government has signalled earlier this year that another upward adjustment is due. (Source: Business Times) |
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| 24-Sep-2013 22:49 |
YZJ Shipbldg SGD
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Cruising with the ship ..Yangzijiang
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Sembcorp Marine - Upsized The new integrated yard will sharpen SMMâ??s competitiveness in the long run. The amalgamation of all ship repair and conversion work at this new yard will free capacity and increase productivity for rig-building activities at the old yards. During the shipyard tour for analysts today, we observed that all four dry docks were occupied with repair work. We expect ship repair revenue to increase by c.50% from S$642m in FY12 (c.14% of SMMâ??s revenue) to c.S$1bn in FY14. There are no changes to our FY13-15 EPS and target price (14x CY14 P/E, 10% below the O& M industryâ??s mid-cycle). Maintain Outperform, with catalysts from stronger margins and orders. Property Devt & Invt - Ground checks suggest some price support source : CIMB |
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| 24-Sep-2013 22:17 |
COSCO SHP SG
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CoscoCorp
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Why I alway and some time post good news and bad news . And also what bb brian thinking
. Because the stocks market are alway this. Last two weeks I have all my friends and colleagues to biy cosco and yangzijoang . I have do ideas what they biy for short term or long terms Or contra . When bb not buying in this counter . If my friends or your family members play contra . They may can burns. So I had to tell them . To checks this forums before buy or sekl |
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| 24-Sep-2013 17:10 |
YZJ Shipbldg SGD
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Cruising with the ship ..Yangzijiang
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what I mean is for short terms player . if you are long terms player , then just don't worry. return is very Good . |
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| 24-Sep-2013 16:41 |
YZJ Shipbldg SGD
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Cruising with the ship ..Yangzijiang
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I'm long term player for this ship and cosco when Yangzijiang $.0.83 I have brough use both cash and cpf. 40 % cosco also Brough at $0.74 both cpf and cash 60 % will be still next year . |
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| 24-Sep-2013 16:13 |
YZJ Shipbldg SGD
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Cruising with the ship ..Yangzijiang
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ALL BB are connect. they when said in hokkien . eat ready. next they star push up . and then they u truns sell back all back to small fish. they happy and go off . |
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| 24-Sep-2013 16:09 |
YZJ Shipbldg SGD
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Cruising with the ship ..Yangzijiang
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when Ezra trading below $1 . BB post Good thing and ask your to buy in. after $1.20 .. ocbc post downgrade to sell . thenprice droping |
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| 24-Sep-2013 16:02 |
YZJ Shipbldg SGD
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Cruising with the ship ..Yangzijiang
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sorry I shell not post this BB don't like to see . BB don't like me. but This is alway BB playing star.. Hope Today is reverse. breake $1.135 closeing. |
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| 24-Sep-2013 15:57 |
YZJ Shipbldg SGD
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Cruising with the ship ..Yangzijiang
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Just like last weeks they stop pushing at $1.125 . block at $1.120 - and sell off . close back to $1.09 small fish becarefull. just wait and see... |
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| 24-Sep-2013 15:30 |
YZJ Shipbldg SGD
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Cruising with the ship ..Yangzijiang
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Yangzijiang Buy Yesterday , and sell off by today . today high volume , tomorrow may be low again. if you are long terms or just sell off your Yangzijiang . then just wait for next few days , when drop back then buy . for the pass few for this months shell sell down. after end of company reports . |
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| 24-Sep-2013 14:58 |
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Cruising with the ship ..Yangzijiang
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见 好 訧 放 | ||||
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| 24-Sep-2013 14:53 |
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Cruising with the ship ..Yangzijiang
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This is what BB alway doing it. post some thing Good and buy yesterday Low at $1.06-1.065 then this morning push up . you buy in they just sell to you. DBS Vickers (Spore) Yangzijiang Shipbuilding: Beating the odds BUY S$1.065 Price Target : 12-Month S$ 1.32 (Prev S$ 1.22) Yangzijiang Shipbuilding: BUY S$1.065 Bloomberg: YZJSGD SP Beating the odds Price Target : 12-Month S$ 1.32 (Prev S$ 1.22) By: HO Pei Hwa +65 6398 7968 Pei...@dbsvickers.com ? Launching the first 10k TEU containership on schedule ? Raise FY14F earnings on better margins and order wins FY15F earnings to benefit from property income ? Investment segment is well managed ? Best proxy to shipbuilding recovery in China maintain BUY on higher TP of S$1.32 First 10k TEU containership on track. Yangzijiang is hosting a yard visit on 25 Sept in conjunction with the launching ceremony of its first 10k TEU containership. Launching is the most important stage of construction, marking the birth of a new ship. All the blocks are mounted and joined, and the vessel should be ready to " float" at this stage. The on-track construction progress of Yangzijiang's first large containership is a confidence booster. Raising the bar. The first batch of seven 10k TEU containership orders will likely yield better gross margins of 15-20% vs earlier expectation of low teens, in the light of favourable steel cost and forex as well as smooth execution. As such, we are lifting FY14F shipbuilding gross margins by 2ppts to 18%. We are also raising order win assumption for FY14 to US$2.5bn (from US$2bn), on the back of active shipbuilding enquiries and the sizeable US$2.87bn worth of options that could be exercised in the coming quarters. Taking these into account, our FY14F net profit is raised by 6.3% to Rmb2.2 bn. We have also introduced FY15 earnings and have incorporated property income from FY15. Maintain BUY SOTP-based TP raised to S$1.32. We have changed our valuation methodology from price to book, to SOTP, to better reflect valuation for the various segments of shipbuilding, investment and property. While some investors have concerns regarding Yangzijiang's investment segment, it is a supplementary business for Yangzijiang and its weighting should fall as the shipbuilding segment recovers. Bad debts have been minimal with proper evaluation processes and risk management procedures in place. As one of the most cost efficient yards in China, Yangzijiang is the best proxy to the shipbuilding recovery. Maintain BUY. |
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| 24-Sep-2013 14:47 |
YZJ Shipbldg SGD
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Cruising with the ship ..Yangzijiang
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Profits taking is on now short term player can taking profits and run off now |
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