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SPC
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shplayer
Elite |
28-Jun-2007 15:03
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When company buys back shares, there are 2 things they can do. 1. Cancel the shares....i.e. issued shares will reduce and profit, and when translated to eps, will be higher. Also, and hopefully, dividents will be higher. 2. Keep the buy back shares in their treasury for the purpose of employees share options. In this way, when employees exercise their share options, the company will not have to issue more shares thereby diluting earnings and divident. Both of the above are non dilutive to earnings. |
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jkbk007
Senior |
28-Jun-2007 14:51
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The share buyback is definitely not a "masquerade" move as I have done sufficient research to know that SPC is doing pretty well for Q2 of 2007. Refining margin is very good in Q2 and with little changes to their business portfolio, it can only mean above average earnings for Q2. SPC should be flooded with cash reserves from the windfall. SPC may not have completed their share buyback. Hopefully there is more at the end of the day and if that is the case I may stand to benefit from it as it may result in the share price going up another tick. My estimated closing price for today is $5.70. |
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geojam
Member |
28-Jun-2007 14:46
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fairygal..yes SPC has alot of cash so they spent some on buyback. |
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Fairygal
Veteran |
28-Jun-2007 14:44
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geojam, But SPC cash rich right? Pardon me if I am wrong, I am just a new investor in SPC. |
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rogue_trader
Master |
28-Jun-2007 14:31
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i read from somewhere in the book "sun tze - 15 dynamic investment strategies" that sometime share-buybacks is like a "masquerade" to let investors or wannabes investors to "feel" that the company is doing ways and means to "create value" in their stocks.. And pls hor, this is only an extract meaning from a book and i not referring to SPC.. wat people wanna come and pick poles wif me again.. |
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geojam
Member |
28-Jun-2007 14:27
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007 U are rite...EPS and DPS theoritically shd be better.But downside,the company's cash reserve also down. argument is that the company confident this year profits is good to replace the cash used for buyback.Some also argue,shd just give the cash as sp divvy instead of buyback. Many point of views. |
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jkbk007
Senior |
28-Jun-2007 11:58
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It can be quite complex in interpreting share buybacks. My view is that this is positive as SPC is using the additional cash flow to fund share buybacks. This reduces the number of outstanding share and allow the company to increase the share divendend growth rate. Anyone who knows more, please comment and correct me if feel that I stated incorrectly. |
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paulpng
Member |
28-Jun-2007 11:32
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What is the impact to the market, if any? |
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KiLrOy
Master |
28-Jun-2007 11:03
Yells: "I buy only what I can see." |
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Thanks! Not sure how I miss this. :p |
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KiLrOy
Master |
28-Jun-2007 11:02
Yells: "I buy only what I can see." |
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Thanks! Not sure I miss . :p |
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jkbk007
Senior |
28-Jun-2007 10:52
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http://info.sgx.com/webcorannc.nsf/New+Announcement+Last+3+Months+by+Company+Name?Openview&RestrictToCategory=SSINGAPORE%20PETROLEUM%20CO%20LTD Read the Q107 report for info about sharebuyback. Yesterday's oil inventory data was positive for SPC. Crude inventory up and gasoline supply down against analyst expectation of gasoline supply increase. |
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KiLrOy
Master |
28-Jun-2007 10:34
Yells: "I buy only what I can see." |
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shplayer, Is there an earlier announcement of the share back from SPC on SGX? I would like to know how much share they intend to buy back from the market. I wasnt able to find any annoucement on SGX and if you can point me to where the information of the share back is located, that will be helpful. |
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jkbk007
Senior |
28-Jun-2007 09:23
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Thanks shplayer, seems like there is more buyback of 107 lots at 5.60 |
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shplayer
Elite |
28-Jun-2007 09:18
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vivacious, This is the daily SGX company announcement website. You gotta plough thru the announcement listings. http://info.sgx.com/webcorannc.nsf/new+announcement+today?OpenView |
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vivacious
Member |
27-Jun-2007 23:25
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How to track shareback by SPC? Where's the source? |
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shplayer
Elite |
27-Jun-2007 22:42
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SPC bought back another 89 lots at 5.50 today. |
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zhugeliang74
Member |
27-Jun-2007 22:01
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I think it is healthly that the market is taking a breather and a much welcome profit taking session... I wouldn't bet for any drastic sell down in SPC though, must remember crude oil is still trending high.... |
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singaporegal
Supreme |
27-Jun-2007 21:51
Yells: "Female TA nut" |
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SPC showing slight bearish signs. But may be overall market conditions? |
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Pinnacle
Master |
27-Jun-2007 17:41
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Its a good thing for share buyback. Share buybacks can drive up stock prices by creating a higher demand and value for shares on the market. |
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shplayer
Elite |
27-Jun-2007 17:15
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Yesterday, 26 Jun, SPC bought back 306 lots at $5.50. |
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