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CoscoCorp
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samson
Veteran |
25-Feb-2011 11:26
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Oil Price drop |
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samson
Veteran |
25-Feb-2011 11:16
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The Board of Directors of COSCO Corporation (Singapore) Limited (the " Company" ) wishes to announce that COSCO (Dalian) Shipyard Co., Ltd (" COSCO Dalian" ), a subsidiary of the Company's 51% owned COSCO Shipyard Group Co, has delivered a bulk carrier of 80,000 dwt, " VOGE ENTERPRISE" , to its European buyer. The delivery documents were signed by and between COSCO Dalian and the buyer on 22 February 2011. The bulk carrier measures 229 meters in LOA (length of all), 32.26 meters in breadth and 20.25 meters in depth. By Order of the Board Jiang Li Jun Vice Chairman and President 24 February 2011 |
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Peg_li
Master |
23-Feb-2011 22:05
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Good!
So many good rating!
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samson
Veteran |
23-Feb-2011 22:04
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Maersk 2010 net profit of 4.9 billion recorded the second The report shows that Maersk 2010 net profit of 26.5 billion Danish kroner (about 4.9 billion U.S. dollars), this performance is far better than the record high of 2009 recorded a net loss of 7.03 billion Danish kroner (about 1.3 billion U.S. dollars), and slightly exceeded Wall Street analysts had expected. Bloomberg News survey of 14 analysts surveyed expect an average net profit in 2010 Maersk Group 263 billion Danish kroner (about 4.8 billion U.S. dollars). Maersk Group, 2010 sales of 315 billion Danish kroner (about 58 billion U.S. dollars), up 21% over 2009. Including Maersk Line Maersk Group (Maersk Line), including net profit in 2010 container business was 149 million Danish kroner (about 2.7 billion) in 2009, a net loss of 11.4 billion Danish kroner (about 2.1 billion U.S. dollars). Maersk oil and gas sector in 2010 net profit of 93.3 billion Danish kroner (about 1.7 billion), higher than in 2009 62.4 billion Danish kroner (about 1.1 billion U.S. dollars). Maersk Group, the total transport volume in 2010 is equivalent to 7.3 million 40-foot container, compared with 2009 growth of 5%, less than 13% growth in the global market. Maersk Group, the average transportation costs in 2010 than in 2009 increased by 29%, including fuel surcharges. Anshi, CEO of Maersk Group (Nils Smedegaard Andersen) in the earnings report, said: " We have to improve its own financial strength, is preparing for large-scale investment in our business." Earlier this week, Maersk Group, the world's largest container ships ordered in 10 vessels. Maersk Group, according to projections made today, container market this year, the maximum increase of 8%. Maersk said the group's net profit this year will not reach last year's level, because the container market, the growth rate last year was 13%. According to Bloomberg, the International Monetary Fund after the compilation (IMF), the data show that growth in global trade this year will very likely 7% lower than 2010, more than 11% growth, but higher than in the past 30 years, 5.7% average. Maersk Group in the Feb. 21 agreement with the highest price of USD 5.4 billion from South Korean Daewoo Shipbuilding and Marine Engineering Company (Daewoo Shipbuilding & Marine Engineering Co) to purchase container ship, the deal includes 10 container vessels, including, in addition to Maersk Group also an additional purchase of 20 container ships. The container ship will be other similar craft in the largest size, can carry 18,000 containers, enough to ship 18 million flat-panel TV. (Civil and military) |
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samson
Veteran |
23-Feb-2011 21:36
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DBS Group Research Cosco Corporation Excellent scorecard • FY10 earnings (+126%) came in 26% ahead of market estimates • Fuelled by improved shipbuilding margins, higher offshore contribution and tax savings • Offshore contracts + earnings recovery + potential parental restructuring = Outperformance • BUY the leading Chinese offshore play TP raised to S$3.16 A super 4Q10. 4Q net earnings surged 431% y-o-y and 70% q-o-q to S$93.6m on strong margin recovery from shipbuilding, higher-than-expected offshore revenue, cost savings from preferential tax rate and tightened cost management. This brings FY10 net profit to S$249m, beating our and consensus estimates by 18% and 26%, respectively. Shipbuilding margins leaped further. Adding back the cost overrun provision of S$24m for the heavy lift, car carrier and wind turbine installation vessel, Cosco’s bottomline would have been stronger at over S$117m, raising overall margins by 2.5ppt. In particular, gross margin for bulk carriers is estimated to have lifted to 11-12% from c.10% in 3Q due to efficiency gains, cuts in staff headcount and lower steel cost. We expect margin to be sustainable at 10% in FY11, as efficiency gains offset rising production costs. Riding the offshore wave. Offshore contribution to revenue has increased from 15% in FY09 to 24% in FY10 and is expected to rise further to 40% by 2012 assuming offshore orders of US$2bn this year. Cosco’s first mover advantage into offshore and relatively more proven track record puts it in a favourable position among the Chinese yards to benefit from the return of offshore contracts. BUY into the leading Chinese offshore play. We raise our FY11/12F net profit by 7.6/2.7% after factoring the lower preferential tax rate. Maintain Buy with target price raised to S$3.16 following the earnings revision, still based on blended FY11/12F PE and P/BV. Catalysts in place are: (1) stronger offshore contract flows 2) injection of strategic stakes by the parent and 3) continuous shipbuilding delivery. Key risks remain rising steel prices, RMB appreciation, suppressed newbuild prices and weakening freight rates. http://www.remisiers.org/cms_images/research/Feb21-Feb25/cos230211_buy_DBSV.pdf |
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samson
Veteran |
23-Feb-2011 21:26
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CIMB Cosco Corporation - 4Q10 Results - Hope has returned 4Q10 net profit of S$94m (+431% yoy, +70% qoq) beat consensus and our expectation of S$50m. FY10 net profit forms 124% of our estimate as there was: 1) stronger revenue from offshore 2) higher profits from shipping and 3) lower tax rates though offset by a S$24m provision for losses for construction contracts in shipbuilding and offshore. We increase our FY11-12 earnings estimates by 11-29% and introduce FY13 forecasts. Following our upgrade, our target price climbs to S$2.85 (from S$2.63), still based on 18x CY12 P/E, in line with upcycle valuations for Singapore rig builders. We continue to expect catalysts from contract wins and margin expansion. http://www.remisiers.org/cms_images/SIN-Daybreak-_2302111.pdf |
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samson
Veteran |
23-Feb-2011 21:23
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Phillip Securities Research Pte Ltd Cosco Corporation (S) Ltd – FY2010 Results BUY (Maintained) Closing Price S$2.02 Target Price S$2.68 (+32.67%) • FY2010 revenue of S$3,861.4m, net profit of S$248.8m • Revenue and net profit beat expectations • Maintain buy and fair value at S$2.68 FY2010 results Cosco reported FY2010 revenue of S$3,861.4m (+33% y-y) and net profit of S$248.8m (+126% y-y). The revenue was 11.8% higher than our estimate of US$3,454.2m while the net profit was 18.0% better than our forecast of US$210.9m. The better-than-expected performance was due to greater turnover from shipbuiilding and marine engineering projects that offset the decline in dry bulk shipping business. http://www.remisiers.org/cms_images/cosco022311.pdf |
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samson
Veteran |
23-Feb-2011 21:19
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KIM ENG Cosco Corp (COS SP, $2.02, BUY, TP $2.43) – Cosco more than doubled its FY10 net profit to $248.8m, with some of the benefits derived from other income (forex items) as well as a lower‐ than‐ expected tax rate. Operating profit was generally in line with expectations. Full‐ year dividend was decent at four cents per share. The group’s ongoing orderbook is healthy at US$6.1b, and we expect further margin improvement. Our target price remains pegged at 4.8x P/B, or $2.43. Maintain BUY. http://www.remisiers.org/cms_images/ssu23022011ke.pdf rohan@kimeng.com |
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Isolator
Supreme |
23-Feb-2011 14:11
Yells: "STI is hard landing to below 2000..." |
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No indication to short or long.... But see higher chance of downside... see see look look... 
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epliew
Supreme |
23-Feb-2011 14:06
Yells: "no worries be happy !" |
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u did not short it ?
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Isolator
Supreme |
23-Feb-2011 13:51
Yells: "STI is hard landing to below 2000..." |
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My favourite counter for last year... This year no action for me until I can see more correction... 
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bsiong
Supreme |
23-Feb-2011 10:47
Yells: "The Greatest Wealth is Health" |
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· FY2010 revenue of S$3,861.4m, net profit of S$248.8m · Revenue and net profit beat expectations · Maintain buy and fair value at S$2.68
FY2010 results Cosco reported FY2010 revenue of S$3,861.4m (+33% y-y) and net profit of S$248.8m (+126% y-y). The revenue was 11.8% higher than our estimate of US$3,454.2m while the net profit was 18.0% better than our forecast of US$210.9m.
The better-than-expected performance was due to greater turnover from shipbuiilding and marine engineering projects that offset the decline in dry bulk shipping business. Cosco reported strong results and we are confident on its performance for this year. Indeed, we expect earnings of S$300.3m in FY2011E. Moreover, it remains focused on cost management. For instance, it aims to maintain staff costs at the same level as FY2010 by decreasing the amount of contract labour to offset the impact from the increase in wages. It is also optimistic on the amount of new orders for dry bulk vessels, and offshore marine vessels such as semi-submersible rigs and floating production, storage and offloading (FPSO) vessels. It has a target of 40% of its order book from offshore marine projects. Although there is a drop in short-term dry bulk shipping rates as reflected in the Baltic Dry Index (BDI), it believes that this is a good time to order new dry bulk vessels. Finally, by paying a higher dividend of S$0.04 per ordinary share for FY2010 compared to S$0.03 for FY2009, it shows that it is optimistic about the future. Maintain buy recommendation and fair value at S$2.68 |
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bsiong
Supreme |
23-Feb-2011 00:03
Yells: "The Greatest Wealth is Health" |
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krisluke
Supreme |
20-Feb-2011 13:43
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risktaker
Supreme |
18-Feb-2011 11:09
Yells: "Sometimes you think you know, but in fact you dont" |
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HUAT AH ---- | ||||||||||
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des_khor
Supreme |
18-Feb-2011 10:08
Yells: "Tell me who is the God or MFT from this forum??" |
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Haha !! this MFT very greedy !!!!
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risktaker
Supreme |
18-Feb-2011 09:17
Yells: "Sometimes you think you know, but in fact you dont" |
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HUAT AH !!!!! 8888 | ||||||||||
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risktaker
Supreme |
18-Feb-2011 08:40
Yells: "Sometimes you think you know, but in fact you dont" |
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Dont worry --- Today SURE UP :) | ||||||||||
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randyhowys
Member |
18-Feb-2011 00:17
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Cosco Corporation (Bloomberg: COS SP | Reuters: COSC.SI)BUY S$2.09 Price Target: S$3.03 Analyst: janicechua@dbsvickers.com HO Pei Hwa +65 6398 7968 peihwa@dbsvickers.com Janice CHUA +65 6398 7954Secures firm contracts worth US$85m Source of all data: Company, DBS Vickers, Bloomberg First contracts for the year. three firm contracts and one optional contract, valued in excess of US$113m, to build special purpose carriers. Excluding the option (end of June 2011 expiry), the three firm contracts are estimated to be worth US$85m. Cosco Corp has securedDiversification into non-bulk vessels. that the vessels are livestock carriers, which are used for the transportation of live animals such as sheep, cattle and goats. Livestock carriers, which can be converted from containership, are more sophisticated than bulk carriers (Please see pictures). We believe this is part of management's effort to reduce its reliance on the dry
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risktaker
Supreme |
17-Feb-2011 11:30
Yells: "Sometimes you think you know, but in fact you dont" |
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all fake sellers... hahaha... eat little bit only run :) HUAT AH |
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