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SPC
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Pinnacle
Master |
25-Jul-2007 18:12
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Second Quarter Review The SPC Group recorded a sales turnover of $1,974.6 million and a net profit after tax and minority interests (PATMI) of $179.2 million for the second quarter of 2007. Global crude and refined petroleum product markets continued to be buoyed by tight crude supply and refining capacity. During the quarter, SRC successfully and safely carried out a scheduled maintenance of the 90,000 barrels per day Crude Distillation Unit No. 1 Complex. The shutdown of the complex for 26 days resulted in a reduction of throughput by 9.2% for the quarter. Total sales volume was 18.3 million barrels for 2Q 2007. This was 9.4% lower than the 20.2 million barrels handled in 2Q 2006, of which 9.2% was partly due to the maintenance exercise. An average realisation of US$70.86 per barrel was achieved for the period, compared with the average realisation of US$72.04 per barrel for the same quarter in 2006. The US$ continued to weaken in 2007 and this, coupled with the lower sales volume, resulted in lower sales revenue for the second quarter. Sales turnover of $1,974.6 million was 15.0% lower compared to the corresponding quarter in 2006. Refining margins remained robust during the quarter on strong refined products demand from the region. The Group achieved an average refining margin of about US$9.00 per barrel for the quarter. The gross profit of $237.4 million was an improvement of 7.7% over the corresponding quarter in 2006. Operational expenses were lower in comparison to 2Q 2006 as no drilling expenses were required to be written off. In 2Q 2006, $7.0 million of drilling expenses were written off. Downstream activities contributed $1,961.8 million in turnover and an operating profit of $186.6 million, while exploration and production activities contributed $12.8 million in turnover and an operating profit of $8.3 million. The Group?s PATMI of $179.2 million for 2Q 2007 was 32.1% higher than the corresponding PATMI in 2Q 2006. |
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Pinnacle
Master |
25-Jul-2007 18:00
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Singapore Petroleum says Q2 net profit up 32 pct(SPC) The company said it earned a net profit of S$179.2 million ($119 million) for the April-June period, compared with S$135.7 million in the same quarter of 2006. Keppel Corporation Ltd. |
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jkbk007
Senior |
25-Jul-2007 17:53
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EPS 34.79 cents. |
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idesa168
Elite |
25-Jul-2007 16:10
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Beautiful 604 |
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chinkiasu
Master |
25-Jul-2007 14:01
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dear 007, could pls elaborate on your 3Q prediction? if you cannot how about some hint and we go try to get the answers ourselves... many tks... |
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idesa168
Elite |
25-Jul-2007 12:42
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Thanks 007 for the RM insight. I have always value your posting for the updates of information. I have also predicted the RM of 3Q to be weaker than Q2. Also the Oyong will contribute only in Sept which will only see the numbers in the last quarter. Hence I see emptiness in 3Q, probably a "real" correction will occur in this quarter. But overall, I am still very bullish on 2007, optmistic that SPC will reach 80¢ EPS. Let's hope they produce spectacular numbers tonight, so that 3Q&4Q will not need much to achieve 80¢. Cheers to all. |
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jkbk007
Senior |
25-Jul-2007 12:28
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On the contrary when it comes to SPC we can have the edge over fund managers. We were well ahead of the them and maintained positioned after XD because of the high refining margin. This continue for almost the entire Q2. Finally I like to advise vested here that I am seeing weak RM for July. You won't get this info in the Q2 report or from any FA report until 1-2 months later. Good luck! |
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KiLrOy
Master |
25-Jul-2007 12:21
Yells: "I buy only what I can see." |
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The predicament you mentioned is very true. We dont have the edge in terms of financial AND first hand information like they do. Also the one way trade (buying long) is a disadvantage to us thus I tend to be very strict when looking for shares to buy. I am still ard just having been posting on SPC as much as I have liquidated much of my holdings except those stocks I bought at low price with high div yield. Hope to have another round with SPC ... soon. :) |
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idesa168
Elite |
25-Jul-2007 11:38
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Hey Kilroy...it's nice to ear from you. It's been a while we did not see your appearance here. It's a dog eat dog world in stock trading. The BBs will emerge ultimately as winner, they have the muscle! How do we survive?.... I also don't know...hahaha! I guess we just have to put in our $$, ride through the short term gyration, look long term, let them fight till one die, then we go pick up more pieces...lol! |
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KiLrOy
Master |
25-Jul-2007 11:21
Yells: "I buy only what I can see." |
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ideasa168, if you have that kind of money, you can do that to them back - BUY UP. hehe To know that you guys survived up to now (close to SGD7.00) is truely amazing. |
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idesa168
Elite |
25-Jul-2007 11:10
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If anyone noticed closely on yesterding trading, you will find the share price from $6.85 to $7.05 (+20¢) in the morning session happened within 5 minutes only. Clearly it's the BB manipulating the price. Buying up at first with 143, 200 lots followed by 50, 22 & 29. The last 2 may be ppl with dip pocket. However, immediate after that, sell down 100, 100, 57, 38 54 & 86 lots. It's a pocker game here. When the BB wants to sell to the market, they will buy up and create euphoria in the mkt to get fools to follow. When there are enough fools, they will throw what they had just bought, plus their own holding. In total from yesterday's trading saga, buy up 243 lots, sell down 435 lots.....they are smart! We cannot fight them. |
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idesa168
Elite |
25-Jul-2007 11:01
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Dear Pinnacle...good luck to your new position on this counter. I will take new position once the reversal is confirm. Currently, it's not so clear, but more chance of upside. The BBs are fighting now for Bulls & Bear. I shall wait till the fighting is done before making a decision. My personal view on FM's call, they are 50% correct, 50% incorrect. IF it's a 50/50 chance, why trust them, why don't trust yourself, go tikam, tikam...hahaha! |
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Pinnacle
Master |
25-Jul-2007 10:46
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idesa168. I totally agreed with you. If you look at my previous posting, I did mentioned that SPC is running too fast and furious and correction is coming. But I also believe that this $0.20 correction is fuel by many factors. DJ major fall, Merrill Lynch downgrade and market sentiment for cashing out. For FM, there are a few who can really make a difference to the counter. ML is one of them. When they call buy, the counters will move up, e.g. Yongnam. So this time, they make a call on SPC and hence really add salt to wound. I believe after ML call, other FM will follow suit to make similar call. btw, I loaded more today too. |
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idesa168
Elite |
25-Jul-2007 10:36
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Dear Pinnacle...can't blame you for being pessimtic where all counters are in red. SPC is due for a correction, which I personally see it healthy. SPC share price shot from $6.00 to $7.00 in JUST 6 trading sessions while from $5.00 to $6.00 it took 44 trading sessions. It deserves a consolidating period before testing new high. Good for long term investors but not so good for short term investors. My reading of the chart came true (which I am saddened) that sell down will occurred after yesterday. But good news is that the chart today shows reversal, but will confirm by tomorrow. A good chance for people who missed the run 2 days ago. I am optimistic that SPC will test $7.00 in this week or next week. Good report from the 2Q is factored in already at this current price. The share prices that we are now currently trading is for 3Q...are you optimistic about that? If you are, load in more! Regarding the reports from those Fund managers, I personally don't take cue from them. I listen to my own heart, own finding, and some of the gurus' finding here. We trade with our own $$ but the FM trading others $$, that's the bif difference. May your trading be a success. I am vested! Cheers! |
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Pinnacle
Master |
25-Jul-2007 10:06
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Maybe fuel by this report too. Merrill Lynch has cut its rating on Singapore Petroleum (SPC) What a cold blanket on the report day. |
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Pinnacle
Master |
25-Jul-2007 10:03
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Reporting on the wrong date where everything bloody red. Hope will recover in the afternoon session. |
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vivacious
Member |
24-Jul-2007 12:42
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Target price been adjusted from 6.80 to 8.10 for me. |
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idesa168
Elite |
24-Jul-2007 12:09
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Sorry I correct myself. SPC must not only close above $6.90. MUST close above $7.05 to show bullishness...hahaha! |
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idesa168
Elite |
24-Jul-2007 11:55
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Looking at the chart, an inverted "T" created at the top. This is not a good sign, may see sell down in the coming days. Just pray hard that SPC closes higher than $6.90 which was the opening price. If not "should" see price erodes below $6.90. But this is a short term analysis from me, not the pro. I am riding on knowing the price might drop, overall will still see higher price as SPC fundamental is bery strong lei! I valued SPC at $9.00, won't sell unless share price is near that figure...1 year, 2 years...! |
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chinkiasu
Master |
24-Jul-2007 11:39
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for the record.. it touched 7.05...!!! looks like it may close at 7.00 although now it is back to 6.90 |
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