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JES
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yipyip
Master |
20-May-2008 21:49
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Receipt of Deposit For US$160 Million Contract; Order Book Update The Directors refer to the announcement on 8 May 2008 that JES International Holdings Limited had signed contracts with a Greek customer, Polembros Shipping, to build two 175,800 deadweight tonnes (“DWT”) carriers with a total value of US$160 million. JES wishes to confirm that it has received the 5% deposit of the contract value, amounting to US$8 million for the above-mentioned contracts. In accordance to the terms of the contracts, the contracts are deemed effective upon receipt of the 5% deposit. Another 15% of the contracts’ value will be paid by the customer upon receipt of a Refund Guarantee provided by JES. As at 31 March 2008, our order book was approximately US$1.13 billion and accordingly, these two contracts of US$160 million will be added to our order book. These two bulk carriers are the largest-ever vessels secured by JES. They will be the first vessels to be built at JES’s new yard in Jiangsu Province, PRC when it begins operations. JES expects to recognise contract revenue for the
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DnApeh
Master |
15-May-2008 13:35
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Volumes picking up. Bullish. | ||
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tchoonw
Veteran |
15-May-2008 13:20
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Another around 42c is a shorting target for sure...will definitely drop below 40c! Have already shorted 2m at 42 today! :) | ||
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ck2236
Member |
08-May-2008 13:51
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Latest from SGX. JES INTERNATIONAL HOLDINGS LTD MISCELLANEOUS :: PRESS RELEASE - SGX-LISTED SHIPBUILDER JES'S 1Q08 PROFIT RISES 25.6% AS MARGIN ENHANCEMENT STRATEGY KICKS IN, ANNOUNCES CONTRACT FOR TWO LARGEST-EVER BULK CARRIERS FROM GREECE WORTH US$160 MILLION http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_E75A1BE4EDC6CA62482574430016D601/$file/JES.pressreleaseannouncement.pdf?openelement |
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tchoonw
Veteran |
08-May-2008 13:10
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hopefully can close below 42 today... | ||
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tchoonw
Veteran |
08-May-2008 11:02
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shorted jes at 44c...it's heading below 40c for sure! | ||
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tchoonw
Veteran |
05-May-2008 10:21
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YZJ already moves to 1.16 but JES still below 40c! JES confirm good to short at 40c...alraedy shorted 40c liao. | ||
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tchoonw
Veteran |
27-Apr-2008 06:12
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YZJ has moved above $1.1 but JES is still sleeping...which makes a good candidate to short. Very doubtful to move to 47c as if can hit 42c, it will be considered a good shorting price! | ||
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limpeh
Member |
10-Apr-2008 08:39
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JES has provided a corporate update: 1. Post IPO, the company?s cash & cash equivalent amounts to S$283.7mil or 24.3cts/share 2. No cancellation of orders from customers and no delay in delivering completed vessels. Company recognizes orders only upon receipt of initial deposit of 20% contract value. Resilient orderbook of RMB8.8bil as of end 2007 compared to RMB4.8bil end FY06. There are unrecognized orders post FY07. 3. Rising cost of steel has minimal impact for FY08 because of 1 year steel stockpile capacity and sourcing from domestic suppliers. 4. US dollar weakness may impact future performance because 40% to 50% of revenue is affected by the foreign exchange exposure. At the same time, 35% to 45% of cost is also in US dollars, which provides a natural hedge. We view the corporate update positively. Maintain view for
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tchoonw
Veteran |
10-Apr-2008 06:26
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when? what's the target price? u got a copy? tks.
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limpeh
Member |
10-Apr-2008 00:31
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err...DBS is covering it... | ||
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tchoonw
Veteran |
09-Apr-2008 06:13
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40c seems not breakable for this bugger which is a good signal to short at that level. Also no analyst coverage on this junk stock! So it's a good candidate to short... | ||
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Happyseah
Senior |
28-Mar-2008 10:27
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Decided to take a little profit as these are volatile times.... | ||
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oldtimer
Member |
25-Mar-2008 17:46
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Why is it a junk? Will you also consider Cosco a junk since it's share price dropped from a high of $8 to below $3 recently? |
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tchoonw
Veteran |
25-Mar-2008 17:26
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This JES is a piece of junk! Shorted heavy at 35c today! | ||
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oldtimer
Member |
25-Mar-2008 17:20
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I agree with happyseah. On an uptrend as with most of the china stocks. Alot of upside potential once the rebound is confirmed. And i strongly believed that it will go pass it's IPO price once market sentiment returns. There is no reason why it should not. Bought 50 lots today using CPF. | ||
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Happyseah
Senior |
25-Mar-2008 14:16
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One of China's large shipping firm. Offer price 67 cents(lower end). Director bought in recently. At this level, there are alot of incentive for this counter to rebound and move up. Look at a 12 months horizon. Vested. |
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