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Latest Forum Topics / China Gaoxian  Post Reply
ChinaGaoxian
Seadeucer
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18-Jan-2011 18:01     
 
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 Alert Admin 		Correction - it should read, contra buyers will buy in on Thursday as shares trade next Tuesday

Seadeucer      ( Date: 18-Jan-2011 17:58) Posted:

Have been invested in CG since 17.5c. I expect high volume tomorrow as contra players will buy in with view of offloading after share rises upon trading on KRX on Monday. (If they buy in tomorrow, T+3 = Monday. Their selling on Monday will also put pressure against any upward price spike and act as dampener all Monday). I expect strong gains next week and strategy is to sell into strength beyong 50c, which I believe is easily achievable next week itself.
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Seadeucer
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18-Jan-2011 17:58     
 
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 Alert Admin 		Have been invested in CG since 17.5c. I expect high volume tomorrow as contra players will buy in with view of offloading after share rises upon trading on KRX on Monday. (If they buy in tomorrow, T+3 = Monday. Their selling on Monday will also put pressure against any upward price spike and act as dampener all Monday). I expect strong gains next week and strategy is to sell into strength beyong 50c, which I believe is easily achievable next week itself.
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motoe689
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18-Jan-2011 17:43     
 
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 Alert Admin 		Sorry, less sentence should be "By adopting such a strategy, they want to be very sure that the KDR price will rise on listing next Monday"...

motoe689      ( Date: 18-Jan-2011 17:39) Posted:



Daewoo indicated in yesterday's investment meeting that their responsibility for this KDR listing exercise for GX is to ensure that GX's price appreicates when it is listed on the KRX, otherwise there is no point in undertaking the whole exercise.

IMO, the issue price of $0.405 is to reinforce this impression of undervalue, rather than pricing at a premium to the last traded price on SGX when it has already cheong-ed so much in the last few months, and scaring off Korean investors.  But adopting such a strategy, they want to be very sure that the KDR price will rise on listing next Monday...
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motoe689
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18-Jan-2011 17:39     
 
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 Alert Admin

Daewoo indicated in yesterday's investment meeting that their responsibility for this KDR listing exercise for GX is to ensure that GX's price appreicates when it is listed on the KRX, otherwise there is no point in undertaking the whole exercise.

IMO, the issue price of $0.405 is to reinforce this impression of undervalue, rather than pricing at a premium to the last traded price on SGX when it has already cheong-ed so much in the last few months, and scaring off Korean investors.  But adopting such a strategy, they want to be very sure that the KDR price will rise on listing next Monday...
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belgeran
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18-Jan-2011 17:25     
 
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eh.. if u consider the spike on the day before halt... where it spiked to 0.47..

today is T+5 for those buyers... they have no choice if they don't wanna pick up...
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noobnoob
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18-Jan-2011 17:19     
 
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 Alert Admin 		yala... i don mean heavy selloff la... just dat net buyers are lessser than sellers..

motoe689      ( Date: 18-Jan-2011 17:15) Posted:

that's not dumping...dumping is when the price plunges 10%! I think reason the price has remained stagnant is nobody can be sure what will happen to GX's price when it lists on KRX next Monday (25 Jan)...from now until next Monday, the price may remain around this level, that's why short term investors may liquidate their holdings and put their money where they think there's more upside during the next few days rather than parking their money in GX and having the price stagnate...   

noobnoob      ( Date: 18-Jan-2011 17:05) Posted:

last min sell off... weird man.... y so many ppl dumping?
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motoe689
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18-Jan-2011 17:15     
 
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 Alert Admin 		that's not dumping...dumping is when the price plunges 10%! I think reason the price has remained stagnant is nobody can be sure what will happen to GX's price when it lists on KRX next Monday (25 Jan)...from now until next Monday, the price may remain around this level, that's why short term investors may liquidate their holdings and put their money where they think there's more upside during the next few days rather than parking their money in GX and having the price stagnate...   

noobnoob      ( Date: 18-Jan-2011 17:05) Posted:

last min sell off... weird man.... y so many ppl dumping?

goldenpiggy      ( Date: 18-Jan-2011 16:47) Posted:

it drops .05 daily...  hmmm...
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noobnoob
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18-Jan-2011 17:05     
 
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 Alert Admin 		last min sell off... weird man.... y so many ppl dumping?

goldenpiggy      ( Date: 18-Jan-2011 16:47) Posted:

it drops .05 daily...  hmmm...
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goldenpiggy
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18-Jan-2011 16:47     
 
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 Alert Admin 		it drops .05 daily...  hmmm...
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noobnoob
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18-Jan-2011 15:05     
 
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 Alert Admin 		perhaps last 1hr...

james87      ( Date: 18-Jan-2011 15:03) Posted:

Will Gaoxian move tml? So boring without GX

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james87
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18-Jan-2011 15:03     
 
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 Alert Admin 		Will Gaoxian move tml? So boring without GX
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james87
Veteran
18-Jan-2011 14:54     
 
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 Alert Admin 		just loaded some at 0.415

motoe689      ( Date: 18-Jan-2011 14:53) Posted:

Don't be spooked by GX issuing the KDRs at a discount to attract Korean investors.  The market will come to recognise a good company for it is. Prime example: STXOSV's IPO price was set at $0.79 on the advice of its underwriters, at the bottom of the $0.79 to $1.13 indicative range.  It was listed on SGX on 10 Nov 2010 at $0.79.  Look at its price now - $1.31... a 65.8% return in just 2 months!  

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motoe689
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18-Jan-2011 14:53     
 
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 Alert Admin 		Don't be spooked by GX issuing the KDRs at a discount to attract Korean investors.  The market will come to recognise a good company for it is. Prime example: STXOSV's IPO price was set at $0.79 on the advice of its underwriters, at the bottom of the $0.79 to $1.13 indicative range.  It was listed on SGX on 10 Nov 2010 at $0.79.  Look at its price now - $1.31... a 65.8% return in just 2 months!  
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medivh
Elite
18-Jan-2011 12:46     
 
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 Alert Admin

If you are asking which counters to look at vesting , there are still some laggards out there. I have posted infor on Sunvic, as well as some construction shares which master lim was asking in other threads.. and today really those counters went up.

My only regret is CourageMa... have been hovering at 19c and in my WL but I didn't go in and today up already.. this counter looks interesting..

There are a few picks here and there from some experts who posted here as well .. JES, QingMei, Taisan.. only problem now.. not enough bullets haha..



goldenpiggy      ( Date: 18-Jan-2011 09:22) Posted:

hi medivh, care to share?  :)

medivh      ( Date: 18-Jan-2011 09:12) Posted:

IMHO, there are other  better counters to look at bro.
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motoe689
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18-Jan-2011 12:22     
 
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 Alert Admin 		Sorry, the average price of KRX peers shouldn't be 12.93...I've deleted that now since meaningless to post this average price...

james87      ( Date: 18-Jan-2011 12:11) Posted:

thanks. very useful info.

motoe689      ( Date: 18-Jan-2011 12:08) Posted:



Please look at this table here from Next Insight/ UOB Kay Hian.  The larger the textile company on KRX, the higher the PE ratio. Since GX will be the largest textile company on KRX, it is very possible that GX could reach up to the 22X PE ratio of the current third largest textile company on KRX, Dong-Il Corp?

Company              Price(S$)   Market Cap (S$m)   PE T12M      PB Current

Woonjin Chemical 1.38          654.6                      49.8            2.1
Kyungbang Ltd     133.36       277.4                      36.7            0.3
Dong-Il Copr        74.93        165.9                      22.2            0.4
Chongbang Co      54.04        90.8                        5.9              0.5  
Pang Rim Co Ltd   14.37         60.8                       7.0              0.3
Aztech WB Co Ltd  1.96          28.0                      3.1              0.5
Kahee Co Ltd         12.93        15.5                       4.6              0.5

KRX Peers Ave.     12.93                                     18.5             0.7        

 
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james87
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18-Jan-2011 12:11     
 
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 Alert Admin 		thanks. very useful info.

motoe689      ( Date: 18-Jan-2011 12:08) Posted:



Please look at this table here from Next Insight/ UOB Kay Hian.  The larger the textile company on KRX, the higher the PE ratio. Since GX will be the largest textile company on KRX, it is very possible that GX could reach up to the 22X PE ratio of the current third largest textile company on KRX, Dong-Il Corp?

Company              Price(S$)   Market Cap (S$m)   PE T12M      PB Current

Woonjin Chemical 1.38          654.6                      49.8            2.1
Kyungbang Ltd     133.36       277.4                      36.7            0.3
Dong-Il Copr        74.93        165.9                      22.2            0.4
Chongbang Co      54.04        90.8                        5.9              0.5  
Pang Rim Co Ltd   14.37         60.8                       7.0              0.3
Aztech WB Co Ltd  1.96          28.0                      3.1              0.5
Kahee Co Ltd         12.93        15.5                       4.6              0.5

KRX Peers Ave.     12.93                                     18.5             0.7        

 
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motoe689
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18-Jan-2011 12:08     
 
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 Alert Admin

Please look at this table here from Next Insight/ UOB Kay Hian.  The larger the textile company on KRX, the higher the PE ratio. Since GX will be the largest textile company on KRX, it is very possible that GX could reach up to the 22X PE ratio of the current third largest textile company on KRX, Dong-Il Corp?

Company              Price(S$)   Market Cap (S$m)   PE T12M      PB Current

Woonjin Chemical 1.38          654.6                      49.8            2.1
Kyungbang Ltd     133.36       277.4                      36.7            0.3
Dong-Il Copr        74.93        165.9                      22.2            0.4
Chongbang Co      54.04        90.8                        5.9              0.5  
Pang Rim Co Ltd   14.37         60.8                       7.0              0.3
Aztech WB Co Ltd  1.96          28.0                      3.1              0.5
Kahee Co Ltd         12.93        15.5                       4.6              0.5

KRX Peers Ave.     12.93                                     18.5             0.7        

 
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gavinl
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18-Jan-2011 11:40     
 
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 Alert Admin 		0.415 @ 10.34

james87      ( Date: 18-Jan-2011 11:39) Posted:

at 0.42?

gavinl      ( Date: 18-Jan-2011 11:31) Posted:

Just loaded 100 more lots
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james87
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18-Jan-2011 11:39     
 
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 Alert Admin 		at 0.42?

gavinl      ( Date: 18-Jan-2011 11:31) Posted:

Just loaded 100 more lots.

james87      ( Date: 18-Jan-2011 11:28) Posted:

thinking of loading up more. since listing is just a week time.
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gavinl
Elite
18-Jan-2011 11:31     
 
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 Alert Admin 		Just loaded 100 more lots.

james87      ( Date: 18-Jan-2011 11:28) Posted:

thinking of loading up more. since listing is just a week time..

motoe689      ( Date: 18-Jan-2011 11:11) Posted:



I had positive vibes about the company after the meeting. The proceeds from the KDR issue will be used for its upstream expansion into the production of PET chips, the primary raw material of polyester yarn.  GX will become one of the few large polyester manufacturers with upstream production capability.  This was highlighted in the UOB Kay Hian research report handed to us at yesterday's meeting.  UOB KH has an undemanding (in their own words) target price of $0.53, which is at a 46% discount ot GX's Korean peers and 15% discount ot its SGX peers.  They apply discount due to: execution risk arising from large scale capacity expansion, and market risk arising from uncertainty over PET (Polyethene terephthlate)/ PTA (Purified Terephthalic Acid) going forward. 

Management and Daewoo was positive on the prospects of the company, and Daewoo indicated that they are confident that the price of Gaoxian will rise when it's listed on KRX (if the market is rational), given that it will be the largest textile company listed on the KRX, and it has good fundamentals.  They cited the example of a China solar company which listed in Korea in August 2010, China Sheng Long, which listed at about 2000 KRW, rose to about 10,000 KRW and is now at more than 8000 KRW.  This proves that the Korean market will recognise the value of a good company, no matter if the company is from China or another country.
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