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Straits Asia
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niuyear
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30-Jun-2009 10:15
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My own opinion only - If have profit to take, i will not hesitate to take. ( i have no holding power to wait for the speculation for it to reach $2.00 and above and i dont know when also) UOBKH technical analysis FTSSI no long 'overbought' and they recommend sell into strength when near 2400. Though not specifically meant for this stock, but, generally, people were already buying on dip last 2 weeks and propbably will sell into strength slowly bit by bit each day where STI crawl up each day that driven by people's sentiment and when selling finish..........wht happen then? Ride with the stock but be cautious also....... :)
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dealer0168
Elite |
30-Jun-2009 10:03
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Ooo rem hiting 2400 soon. Those enter below $1.70 i mentioned b4 relax to get profit....... | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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nickyng
Supreme |
30-Jun-2009 09:56
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gosh....this is like a myth becoming reality..becos ppl BUY that CRAP belief !! :P | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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maxcty
Master |
30-Jun-2009 09:39
Yells: "always a learning day for me in trading" |
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will really go up to 2.2 in july?
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rachael
Member |
30-Jun-2009 08:46
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Hello Cheongwee, thanks for introducing me this counter. I have shifted all my Epure shares (loss $1800) to buy 15 lots of StraitsAsia at $1.78 (only regret is I should have brought it last 2 weeks below this price). Hopefully will go up to $2.20 by Jul. |
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maxcty
Master |
29-Jun-2009 21:54
Yells: "always a learning day for me in trading" |
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i out @ 1.75 today...see whether can go in tmr. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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vthnay
Member |
29-Jun-2009 18:37
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Cheongwee, thank you for sharing this info. I know this is your favourite baby and you are personally invested, and had made some - no, quite a lot of money from it. So, I believe you sincerely want us to huat with you too. :-) I am in on this with you, and I look forward to your news on this baby - as you call it. :-)
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niuyear
Supreme |
29-Jun-2009 17:33
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Tks for your sharing,Cheongwee, will go for it. DYODD .lol
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cheongwee
Elite |
29-Jun-2009 16:57
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honestly, this is what i heard just last wk, a FM is buying some 4000 over lots again, and he was telling ard that he value this one at 2.3...but his fund was a small one by market.. listen here, i am sharing, and u can see before your eye, the smart money movement..pls DYODD...but i like u all to huat with me.. i do like y all here to haut ahhh....personnally vested heavily now.... dont sell below 2.2..
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oceanblue
Senior |
29-Jun-2009 16:56
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$1.76 cleared.
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richtan
Supreme |
29-Jun-2009 15:58
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Congrats to those having n holding onto Straits Asia. SAR had broke above the sloping resistance intraday, hope it close above tat line n turned into a support. "Trade Summar" also shows buying up with hiher volume
AJ1 (StraitsAsia)
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richtan
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29-Jun-2009 13:02
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SAR bounced up from the 25ema n now sitting on the 15ema.
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oceanblue
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29-Jun-2009 12:28
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Appear in the top volume list now.What's up?
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thomas_low
Veteran |
29-Jun-2009 01:20
Yells: "Gong Xi Money Made" |
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Neubie posted this in CNA..from the Edge, yes he bought 0.5 million shares recently although not news but the rationale is now clearer, my guess there will be more than just long term outlook is good but more M&A opportunities..or discoveries Miner Straits Asia revs up production plans as coal prices recover With thermal coal suddenly trading at about US$75 a tonne, a more than 25% increase from its lows in March, Richard Ong, CEO of Mainboard-listed coal mine operator Straits Asia Resources, is once again sitting pretty. In April, Thailand's state-controlled energy giant PTT group bought a controlling stake in Straits Asia from its Australian-listed parent. PTT has since been forced to make a mandatory offer to buy the rest of Straits Asia's shares that it doesn't own, a bid that will most likely fail since the latter's shares have soared, fuelled by higher coal prices and a red hot stock market. Indeed, the genial and soft-spoken Ong who helped take Straits Asia public nearly four years ago is so confident that the coal miner's shares are on the verge of a breakout surge that he is putting more of his money where his mouth is by scooping up more shares for himself on the open market. The market is applauding the CEO's vote of confidence. Ong purchased 500,000 shares in the company at an average price of $1.81 each on June 17, increasing his personal stake in the firm from 0.65% to 0.7%. Last week, Straits Asia's shares closed at $1.70 apiece, up 117% since the start of the year. At their peak in July last year, Straits Asia's shares traded at $3.57 each, before plunging to an all-time low of 56 cents in November, weighed down by rising inventories at power plants. Markets have stabilised since then and Straits Asia's stock prices are now more reflective of thermal coal's medium-term fundamentals. Ong is convinced that demand for thermal coal will continue to exceed supply in the years to come as new coal-fired power plants come on stream in China, India, Indonesia, Vietnam and other developing countries even as environmental groups lobby for cleaner energy sources like wind and solar power. Indeed, according to most estimates, eight out of 10 power plants under construction worldwide right now are coal-fired and nearly 75 % of the new power generation capacity over the next five years will come from coal-fired plants. Growing demand To cater to the growing demand from power plants in Asia, Latin America and Africa, Ong is planning to significantly scale up production at his Indonesian mines to over 20 million tonnes annually within the next three years from 9.5 million estimated for this year. Straits Asia has sold and priced 6.5 million tonnes of its FY2009 coal deliveries at US$114 per tonne, analysts from DBS Vickers note in a June 19 report. Most analysts share Ong's bullish view on the prospects for thermal coal even as sentiment for metallurgical coal, used mainly by steel mills, remains lukewarm at best. Underpinned by the recent run-up in oil prices, coal prices are set to follow suit as demand for coal remains strong, DBS Vickers analysts write. "Our channel checks with major coal producers in Indonesia suggest that demand for coal is still robust, as the increase in output so far in 2009 has been absorbed by the market." Ong believes thermal coal prices should average at about US$80 per tonne over the next five years. "I can see that coal prices are moving up again," he told The Edge Singapore during a recent interview. "Demand is growing now and supply is not keeping up." China was a large exporter of coal for many years but became a net importer in 2007. Though the global downturn has dampened demand for metallurgical coal and even delayed the opening of new power plants that use thermal coal, closure of unsafe mines in China where thousands of miners die every year in accidents has kept an equilibrium of sorts in the demand and supply of coal in China. Indonesia, South Africa and Australia have stepped into the breach by expanding their coal production and exports. Indonesia is now the world's largest exporter of coal, producing about 200 million tonnes last year, but it still cannot meet China's insatiable demand because a hefty amount of coal is needed to power up its own electricity plants, Ong points out. "Meanwhile, there is a facility constraint in Australia where existing ports can't handle new production, so, the cost of producing coal becomes higher," says Ong. "Then, there are the other [coal-consuming] countries like Japan. Where do they go? The market is headed for a shortage." Ong intends to increase production levels at his two mines in Kalimantan, Indonesia, to meet this demand. Located on a tiny island , the Sebuku mine produces high-quality thermal coal which is sold primarily to power plants in Japan under long-term contracts. Last year, the Sebuku mine produced about four million tonnes of coal, and still holds about 20 million tonnes in reserves. A key feature of Sebuku is its low strip ratio of about 1:5 (the ratio of waste like sand and mud to the amount of coal available), enabling quick and easy extraction of coal. "In other areas you, need to mine away 20m of waste before reaching coal," Ong explains. "You need to spend a lot of money to move the waste. At [Sebuku], you only need to mine away 4m to 8m of waste." Moreover, because of the island's small size, overhead costs like transportation and drilling are low. The Sebuku mine is just 16km from the nearest jetty. The cost of extracting coal at Sebuku, which Straits Asia outsources to local contractors, is about US$33 a tonne. Straits Asia's second mine, the multi-pit Jembayan, covers 12,000ha and sits 150km northwest of the coastal town of Balikpapan. Acquired two years ago for US$350 million ($509 million), the mine contains about 112 million tonnes of reserves, based on the most recent discovery made in October, Ong says. "And this is only after drilling [just] 30% of the total mine," he points out. "Drilling is still ongoing and I feel reserves could reach 200 million tonnes when drilling is complete. We might be able to announce an upgrade of the mining capacity by the end of the year." Indeed, production levels at the Jembayan mine are set to double after work to increase its capacity was completed last month. Now that the mine is equipped with a crushing capacity of 11 million tonnes per annum and barge loading conveyors able to move 15 million tonnes of coal, Ong expects Jembayan to increase production to 14 million tonnes a year over the next two to three years, more than double its current capacity. However, due to the mine's distance from the nearest port, production costs are higher than Sebuku at over US$43 per tonne. Pushing production up Last year, total production at the Jembayan and Sebuku mines amounted to 8.6 million tonnes, and production levels are expected to grow 10% to 9.5 million tonnes this year. Next year, Straits Asia plans to produce more than 10 million tonnes, and Ong's target is for 20 million tonnes by 2012. His goal for the next three years? "Aim for organic growth with these two mines, and build Jembayan into a world-class mine." For the three months to March 31, 2009, Straits Asia's revenues were up 36% y-o-y to US$139.6 million, while net profit grew 74% to US$35.5 million over the same period. Straits Asia, the only pure play listed coal miner in Singapore, has cash of US$183.9 million and net debt of US$111.2 million. At current levels, the company is trading at 9.3 times historical earnings, with a market capitalisation of $1.85 billion. DBS Vickers is forecasting a 13% increase in average selling price, a 17% y-o-y increase in revenue to US$715 million for FY2009, and a 55% increase in earnings to US$193 million over the same period. The brokerage maintains a "buy" call on the stock, with a target price of $2.26, representing an upside of almost 30%. If analysts are right, CEO Ong who has been steadily increasing his bet on his own team's ability to deliver, stands to make a bundle along with other shareholders, including Straits Asia's new Thai controlling shareholder, the PTT group. |
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thomas_low
Veteran |
26-Jun-2009 21:39
Yells: "Gong Xi Money Made" |
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Although didnt get less then 1.7, will load up anyhow, no need to buy and sell too often, we know this one will get there and I guess (caveat emptor) next week will deliver. M&A fever on coal is back again as I said earlier, Indonesia investors eye BHP Billiton coal project, 4 companies in discussion. Indians are on the buying spree also. Should be more exciting next week when more news comes. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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cheongwee
Elite |
26-Jun-2009 17:35
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i thk this is a 2.5 stock...analyst tg 2.25...i thk CIMB.. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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foucs6900
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26-Jun-2009 16:31
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Down asia down | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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maxcty
Master |
26-Jun-2009 14:10
Yells: "always a learning day for me in trading" |
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thanks for sharing..guess this wont go up much today and mon...will sell off today as well.
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waynekwek
Member |
26-Jun-2009 13:57
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I also bought at $1.67, but sold off at $1.73. Not much profit, but better than nothing. Waiting for ir to drop and repeat... | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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maxcty
Master |
26-Jun-2009 13:51
Yells: "always a learning day for me in trading" |
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haha..bought at 1.67...plan to sell off at 1.8..guess cant reach..
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