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STXOSV
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risktaker
Supreme |
24-Aug-2012 07:10
Yells: "Sometimes you think you know, but in fact you dont" |
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I donno why u guys after so many days still blur like sotong ..... The recent price is $1.67 because u take the valuation of usd 800million / 50.5% stake ..... It give u 1.67 and the next funny thing is stxosv will not be delisted ...... Although there's a small chance but unlikely .....
How can stxosv be bottom ? All BB including me we sold 1.64-1.67 and we didn't buy back .....
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starlene
Elite |
23-Aug-2012 23:41
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Thks Eddyte for pointing out..STXOSV shd bottom at this level $1.50-1.52 and if > contracts will move up again..one of my favourite counters...make many rounds...even at 80cts ,$1.07,1.20.1.28.1.35...sold mant times and buy back also equally many rounds when it dropped esp during N-S Korea tension when its just traded after ipo in Oct 2010 and Japan Earthquake..now holding mainly for the long haul and has received all the dividends since its debut... Hei U guys interested in Auric Pacific ..since F& nN and APB..being sold out..this counter also started to move..in its hey days $3-4..pay good dividends..matter of time it will cross $1.20..can consider... The company recently appointed Miss Saw Phaik Hwa as the CEO, effective from 1 May 2012. As the ex-CEO of SMRT, she presided over the numerous mishaps that have befallen the public transit company, a series of highlypublic breakdowns that caused much inconvenience to commuters and eventually resulted in her departure. What did Auric see in Miss Saw? Despite the unfortunate circumstances surrounding her departure, which were rather lamentable, it is undeniable that she has deep experience in running retail and marketing businesses. Before she joined SMRT in 2002, she had held various senior positions in dutyfree retail chain operator DFS for 19 years. Also, while she was at SMRT, she was credited for increasing SMRT’s rental and advertising income from almost zero to nearly half of group EBIT by end-2011. Good fit for Auric, on paper. Auric’s main business is in the distribution of fast-moving consumable goods, such as fine wines. Through its key subsidiaries Sunshine Bakery, Delifrance and Food Junction, it is also involved in the manufacturing of baked food products and the operation of food retail outlets. Based on her experience in DFS and SMRT, Miss Saw is a good fit for Auric, at least on paper. What she could do for Auric. Auric’s topline has been stagnant in the last three years except for manufacturing and food court operations. It would appear that the wholesale & distribution and food retail businesses need a “wake-me-up”. While profits have grown in 2010 and 2011, most of the growth has come from investment and other income. In addition, we think overheads are on the high side, especially selling & marketing costs (17% of sales). Jury is still out. Valuations are not demanding for a food company at 9x historical PER and 0.6x NTA (Dairy Farm, for instance, trades at 29x PER). It is also supported by a 4.8% dividend yield |
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steadylar
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23-Aug-2012 11:19
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Good point Eddyte. Today is the 3rd day after XD yet there's no sign of heavy selling, and price is holding well above 1.51........, there's good buying momentum around this level, very steady. |
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eddyte
Member |
23-Aug-2012 10:48
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starlene, I also believe that STX OSV operation will not be directly affected at all by this stake selling noise. However, SGX rule say if there is a BUY of more than 30% in a company, the Buyer must make an offer to all shareholders. This is the reason I guess this stake selling been taking so long....As I explained earlier...Ficantieri (or ??) must make an offer to the rest of the shareholders at same price. All others (except STX Corp) can reject, and we basically go back to the normal again...with a new main shareholder. Unless Ficantieri want to control the whole company (remember : they are a shipbuilder not an investment company), they might want to buy over the whole company (takeover) and delist the company....which in this case, i believe they have to pay a lot more than the 1.50 rumoured in the market. But with their cashflow of about 1 Billion only, they cannot afford to buy up the whole company... I believe they (STX Corp, Ficantieri, etc) are trying to sort this out now.....as its been dragging out for a long time. As a small retail investor, we can only ride with the big fund (OZ)...Hope they do not take the 1.50...At PE of about 8 for 2013, huge shipbuilding contracts till 2014/2015, oil price going 100 again...I think the big funds are smart enough to decide how they want to perform in their portfolios. And with dividend of more than 10%...Anyone riding with me??? Good Luck.
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starlene
Elite |
22-Aug-2012 19:39
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This is a sale by STX Europe AS ...not affecting the STX at all including its operations..no effect on takeover trigger at all..STX Europe merely needs $$$ as mentioned during the AGM..will not trigger a take over of that sort | ||||
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heavenknow
Member |
22-Aug-2012 13:40
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Thanks shifu, so there isn't anything to justified further drop in price except for the short term xd effect and global issues. Fundamentally, this is still an excellent firm with one of the best dividend yield. Not to even mention capital gains for those who entered below well below its current level. So let's just hope the deal be concluded quickly and let stx run up to its true value. | ||||
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eddyte
Member |
22-Aug-2012 13:19
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Yes...Anyone who want to buy the 51+% from Stx Corp has to offer the rest to reach 90%. So, the key lies at OZ Funds who is holding about 22%. A combination of both will add to about 75%. So..that depends on the rests of the funds who are still holding the other shares. I believe retails like us basically hold less than 10% of the shares. If you are serious about this stock, you will know that OZ Fund actually went into the market and purchased additional 1% shares in May at price about 1.595. That works out to be around 1.465 after deducting the 13 cents dividends. I believe they are not selling at THAT moment (May). But the 13 cents dividends today might change their mind. The question is : Will OZ Fund sell? They bot 20% last year at 1.33, and after adding all the dividends collected (15 cents + 13 cents). They actually have made 28 cents dividends + 17cents (if the stake sold at 1.50). That works out to be about 45 cents for a 1.5 years investment (about 33% return on investment). Will they cash out? Still...they need other funds and us to agree also..... I hope they dont...cause a good company like stxosv (or whatever the name will change to) is hard to find.....and If they dont, we basically just go back to the fundamental of the company. Good Luck.
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MtFaber
Member |
22-Aug-2012 13:03
Yells: "PRICE may not equal VALUE" |
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The main issue here is STX group is selling its 51% stake in Singapore listed STX OSV to the successful bidder. Delisting was never mentioned!
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heavenknow
Member |
22-Aug-2012 12:58
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Delist or not will have to wait for the deal to be concluded first. Then they will have to offer us retailer a delisting offer not less than the amount they paid to get the majority share. And it will be up to us to accept or reject unless they can accumulate more than 90 % of the shares. Can any shifu verify is this correct? | ||||
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rutheone1905
Veteran |
22-Aug-2012 12:15
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u mean they wont delist it from SGX?
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heavenknow
Member |
22-Aug-2012 11:36
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I do not quite believe 1.5 should be seen as a ceiling as this is a trade for a change of ownership for stx osv. With the korean parent firm so keen to sell it away, the price of 1.5 should be seen as pricing in discount given by the koreans in order to tie up this deal. The italian firm after aquiring stx osv, will not be selling its shares so soon and definately will not sell below its buying price of 1.5.
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rutheone1905
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22-Aug-2012 11:08
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some speculated tat MA done deal @1.50. if this is true mkt price will never be anything above 1.5, at best 1.485 leaving little profit for buyers. having said tat, 1.5 is damn good price to enter |
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heavenknow
Member |
21-Aug-2012 19:27
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Guess the 13 cents dividend overshadowed this news. Today's sell down more due to contra players closing their contra position after xd and also some sell down for the industry as a whole. Mid and long term wise, good time to accumulate more with this 1.5 as a support | ||||
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eddyte
Member |
21-Aug-2012 16:21
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The Italian shipyard will shell out SGD 1.50 ($1.20) per share for the 51.75% stake owned by STX Group, Korea’s Money Today says. However private equity firm Carlisle Group has pulled out of a joint bid over uncertainty in the shipbuilding industry, the report says citing unnamed sources. Fincantieri has long been linked with a move for the offshore shipbuilding specialist which posted a net profit for the second quarter of NOK 278m ($47m). The Italian outfit is sitting on a cash pile in excess of $1bn, it said in its second quarter earnings release. However OCBC Research warned in June of an unusual number of leaks surrounding the supposed negotiations. It said there was a possibility the rumours were circulated to influence the discussions. Several analysts are hot on STX OSV which is a runaway leader in the construction of high end offshore support vessels. Demand for larger, more complex ships is expected to grow as oil and gas production continues to move into deeper water.
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starlene
Elite |
21-Aug-2012 13:14
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Bottom at 1.50 level will creep up again | ||||
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hooyou1312
Member |
21-Aug-2012 10:33
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yes... if not wont plummet like that..
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tiancai007
Master |
21-Aug-2012 10:23
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Is it XD today? | ||||
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starlene
Elite |
19-Aug-2012 23:27
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Risk taker..may I ask where U get the news sold to Italian co at $1.67....any write up or report about this matter?
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wangerism
Veteran |
17-Aug-2012 16:04
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13c divi is pretty gd yeild... |
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littleboi
Member |
17-Aug-2012 15:06
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Sold already? I thought still bidding?
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