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CSCHoldings ( First Impressions by Goldman Sachs)
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jackjames
Elite |
08-Mar-2008 09:38
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the price is not dirt cheap yet... >0.21 would be damn good to collect. | ||||
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ihatcoy
Senior |
07-Mar-2008 15:27
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For easier reading on previous post. Re-organized. CIMB initiate coverage (31st-Jan-08) Philip Securities initiate coverage (06-Mar-08) http://www.remisiers.org/research//CSC%206Mar08%20Fv0.45%20ps.pdf SIAS Research (7 March 08) CSC Holdings Limited ? Finland?s Neste Oil OYJ is building the world?s largest renewable bio-diesel plant in Tuas and has commissioned one of CSC Holdings Limited?s wholly owned subsidiaries to construct the foundation for the facility.When completed the bio-diesel plant is capable of converting renewable feedstock like palm oil into some 800,000 tonnes of bio-diesel annually. The contract for the foundation work is worth approximately S$33 million. Work at the site will involve the installation of a large number of driven piles and some civil engineering work and is scheduled to commence in early March and be completed by the end of the year. ☼ CSC starts to attract major players. Buy on weakness. http://whatstocktobuy.blogspot.com/2008/01/csc-holdings-fundamentals.html |
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joshlai86
Veteran |
07-Mar-2008 10:28
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CSC TO INSTALL FOUNDATION PILES FOR WORLD?S LARGEST RENEWABLE BIO-DIESEL PLANT SINGAPORE, March 6, 2008 ? Finland?s Neste Oil OYJ is building the world?s largest renewable bio-diesel plant in Tuas and has commissioned one of CSC Holdings Limited?s(?CSC? or ?the Group?) wholly owned subsidiaries to construct the foundation for the facility. When completed the bio-diesel plant is capable of converting renewable feedstock like palm oil into some 800,000 tonnes of bio-diesel annually. The contract for the foundation work is worth approximately S$33 million. Work at the site will involve the installation of a large number of driven piles and some civil engineering work and is scheduled to commence in early March and be completed by the end of the year. CSC is delighted and honoured to work with Neste Oil to construct the foundation for this esteemed project and looks forward to securing more of such exciting contracts in the future. This contract adds to CSC?s list of foundation contracts for projects in the energy related industries and enhances the reputation and track record of the Group. In addition to this contract win, the Group has also recently secured several other foundation engineering, geotechnical investigation and instrumentation jobs worth approximately S$30 million collectively. These include works at the proposed Woodsville Interchange, the ITE campus at Bukit Batok and public housing development at Sengkang. With these recently secured contracts amounting to S$63 million, the Group?s order book now stands at approximately S$435 million. Most of the projects are expected to be
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ihatcoy
Senior |
27-Feb-2008 10:18
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probably, able to see some high today. | ||||
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ihatcoy
Senior |
12-Feb-2008 21:04
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Hi Jackjames, Great to have you on board CSC. =) As for YN, I am not into it as I had reserves about it. But, just personal. So i will not comment. My reason on CSC is what i stated in my blog + some gut judgement. |
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jackjames
Elite |
12-Feb-2008 08:02
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well said, but with such a confidence, u shall cash in at 0.235 last few weeks... can see u have somehow average down ur previous buy from 0.335 to 0.325 to 0.265.. hmm.. anyway, i am in the same boat with u, but at 0.24 , heeee.. you should consider yongnam too, as the price now is not moving up yet like CSC.... it used to be "higher price than CSC"... |
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ihatcoy
Senior |
12-Feb-2008 04:30
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Construction plays are expected to benefit from the booming construction activities that will take place regardless of a US recession, with contracts this year already projected to beat the record level achieved in 2007. | ||||
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ihatcoy
Senior |
03-Feb-2008 00:56
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1 February CSC ? Leading foundation and geotechnical engineering specialist, CSC Holdings Limited, has seen a further boost to its portfolio by bagging the foundation works contract for phase two of the Marina Bay Financial Centre Commercial Tower. This latest contract win was one of four foundation works secured by CSC in the past three weeks. Collectively, the contracts are about S$118 million. http://www.siasresearch.com/about/quickbites.cgi |
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ihatcoy
Senior |
01-Feb-2008 14:58
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CSC Holdings (S$0.25) - Undervalued - CIMB 31st-Jan-08 CSC?s recent acquisitions and a 70:30 JV with Malaysia?s IJM Corp are positive moves to expand its business and expertise, and should support future earnings growth. The industry outlook remains robust with activities likely to accelerate in the coming months. We upgrade our net profit forecasts for FY08-10 by 32-116% to capture better margins as well as higher revenue recognition from a robust order book of S$330m. We upgrade the stock from Neutral to Outperform with a new target price of S$0.57 (previously S$0.36), after rolling forward our target price to CY09 but based on a lower 10x P/E compared to 15x previously. |
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ihatcoy
Senior |
20-Jan-2008 23:54
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Updates on CSC http://whatstocktobuy.blogspot.com/2008/01/csc-holdings-fundamentals.html |
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ihatcoy
Senior |
16-Jan-2008 21:19
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Excerpt from BT
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ihatcoy
Senior |
13-Jan-2008 21:13
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CSC Holdings Issued paid up shares: 1.12554 billion shares Accounting period: March http://www.cschl.com.sg/ Reason for huge potential upside >>> Cheap Valuations & Strong Fundamentals. ☼ See my Top 11_Reasons for BuY ☼ 1) CSC Holding is Singapore?s largest foundation and geotechnical engineering specialist, both in terms of size and in revenue. And, one of the region?s leading solutions provider for private and public sector residential, commercial, industrial and infrastructure projects. Offering a comprehensive range of foundation works all under 1 Roof: Large diameter bored pile to Diaphragm wall to Micro & Jack-In pile. ☼ Perhaps, this is one of the reason why CSC got the S$240 Marina Bay Sands Project! 2) This is a very high barrier to entry industry due to the complexity engineering requirements. Base on Item 1), CSC had an advantage over general contractors due to its comprehensive services offered under 1 roof, especially in Singapore where the strict regulations in Singapore are preventing some foreign players from coming in. Also, there are not many players around in Singapore due to the shakeout in this industry few years back. ☼ This reason would put CSC at a very high % of getting the project for the Sentosa IR. 3) Foundation work is a must for all construction work and most of the time, materials are provided by Main Contractor. CSC bears little/no Material Cost Risk. Even in cases, where it had to supply its own materials, it is not much of an issue as projects typically last three to six months. 4) In view of the awarding of the Marina Bay Sands project to CSC. I think CSC should had VERY HIGH CHANCE of getting the Sentosa IR project as well. The awarding of the Sands IR Project would mark A strong vote of confidence for CSC(which Singapore had very stringent awarding selection criteria), and I think this would serve as a Strong Track Record to open global class opportunities for future projects. 5) Just in Singapore alone, Demand had been so tight that the Singapore government had to delay some S$2B worth of non-essential construction projects to 2010. The focus for now is to concentrate on mega projects such as IR, Marina Bay Financial Centre, new downtown MRT line, Jurong Island Petrochemical plants etc. (Will not go into details here). 6) Malaysia also had plans to develop Southern State of Johor into an industrial and tourism hub. Already, there are a number of infrastructures and property projects in Malaysia with The Malaysia stock index keep making new highs despite the US housing subprime. ☼ CSC already had make presence in Malaysia since Mar'06 (It buy over G-Pile System, a Malaysian provider of Hydralick Jack-in piling services. This is CSC platform to expand into Malaysia) ☼ To date: CSC is actively involved in various strategic initiatives to embark on projects in Malaysia, Vietnam, MiddleEast etc. And, currently, actively, tendering for projects in Malaysia through Joint Ventures etc. http://info.sgx.com/webcorannc.nsf/37e9d50ee377b2304825735f00233861/031a8a9b680822524825737c003bb7a6?OpenDocument http://info.sgx.com/webcorannc.nsf/0357d11048060bb84825735f0028e25b/f1df95853b339d0f482573b8003387d9?OpenDocument http://info.sgx.com/webcorannc.nsf/0357d11048060bb84825735f0028e25b/bb331ec82b7b0c00482573c6001a3db4?OpenDocument 7) Key business not only coming in from Singapore. The next construction boom would likely be in INDIA and VIETNAM base on its economic activities for the past few years. But, Both countries have UNDER-INVESTED infrastructure. The economic growth are bottleneck by the infrastructure. I deem that as the next wave for CSC order book. 8) Order book record high of S$330 million as at 9-Jan-08. These contracts secured are expected to be substantially completed within a twelve month period. And order could just keep coming in. See item 5, 6, 7 above! 9) CSC reports sterling 1H2008 results - 1st Half 2008 revenue rose to $185 million, which already exceeded its full year 2007?s revenue of S$127m. In its half accounting year to Sept 31,2007, CSC's net earnings already quadrupled to S$19.1 million. 10) Goldman Sachs (one of the world's largest global investment banks) which is the only winner from the US housing subprime woes was bullish on CSC as well. 11) With its local & overseas investment yielding more results, CSC would eventually get re-rate by analysts. -> Before that happens, the stock is quite a undervalued GEM under investor radar. -> This counter is only for Long Term Investment. Not suitable for Short term. ------------------------------------------------- Warren Buffett Quote: Be greedy when others are fearful. & Be fearful when others are greedy. ------------------------------------------------- Disclaimer: I shall not be responsible for any loss or damage arising directly or indirectly from the use of, or reliance on, the information provided herein. Please exercise due diligence. |
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ihatcoy
Senior |
11-Jan-2008 13:02
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Had further buy up on market weakness xx lots @0.325 Seller to me. UOB Kay Hian Pte Ltd |
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ivorycoast
Elite |
11-Jan-2008 09:45
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A very big booster to the construction sector ..... Hopefully will be Yongnam next ..... |
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ihatcoy
Senior |
11-Jan-2008 09:24
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Further buy xx lots 0.335. Seller to me. Philip Securities. Small player //// [Dow Jones] CSC Holdings (C06.SG) may extend morning gains, clear S$0.35 (last reached in November) on boost to orderbook following win of S$120 million worth of contracts to carry out foundation, engineering work for range of different projects in Singapore. Move brings civil engineering firm''s orderbook to S$330 million, expected to substantially boost topline considering revenue for FY07 ended March already at S$127 million. Company expects to complete bulk of latest projects within 12 months. These include foundation works for Keppel Corp''s ( BN4.SG) high-end waterfront condo Reflections at Keppel Bay, for hotel and commercial development at Collyer Quay in Singapore''s central business district. |
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ihatcoy
Senior |
07-Jan-2008 14:53
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Selling to me. UobKayHian + PhilipsSecurities. (Small Player) |
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ihatcoy
Senior |
07-Jan-2008 14:49
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Buy xx lots @0.325 base on technical indicators for longer term play. |
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hogenterprise
Senior |
03-Jan-2008 11:06
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strong performance today, now 34 | ||||
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mirage
Veteran |
06-Dec-2007 13:17
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TP means target price. | ||||
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antdtsen
Member |
06-Dec-2007 13:00
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may i know what is TP | ||||
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