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Swissco
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knightrider
Elite |
25-Oct-2006 09:33
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Swissco International Oct 23 close: S$0.47 CIMB-GK RESEARCH, Oct 23 SWISSCO is undervalued on all fronts. With record charter rates for offshore support vessels, Swissco's high exposure to the spot market and expected fleet utilisation rates of 73 to 83 per cent for its 14 offshore support vessels (29 by FY2008) promise great earnings potential. We estimate that its fleet has a market value of S$47 million. This alone is higher than the S$41 million of fixed assets it has booked on the balance sheet. Vessel divestments could see the group reap substantial gains. Furthermore, we estimate conservatively that the potential listing of Swiber, in which Swissco has a 20 per cent stake, could see a gain of S$5 million for Swissco. Our target price is raised to S$0.71 from S$0.66. Maintain 'outperform'. |
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knightrider
Elite |
25-Oct-2006 09:23
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Hi, This share caught my interest only last year when the former founder of Link Island - Mr. Chong bought a substantial among in around 0.27. The market report for vessel chartering compare this with Jaya and stated this share is still undervalue ! Maybe some expert here would want to do some compare and see whether is there anymore upside ! Thanks. |
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cashiertan
Elite |
25-Oct-2006 02:18
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lol singgal, swissco caught u by surprise. lolz same for me. was amazed by its climb today. but how many stocks does such a spectacular reversal? nevertheless it caught my attention enough to be in my tracking list.. | |
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starlet
Member |
25-Oct-2006 01:58
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Anyone knows why the sudden surge in volume and price in this stock? | |
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knightrider
Elite |
23-Oct-2006 16:52
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Take note when come to closing, always cosmetic method is apply, now pushing up to close at 0.47 liao ! | |
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knightrider
Elite |
23-Oct-2006 15:19
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Swissco International (SWCO SP/SWIS.SI, OUTPERFORM- Maintained, S$0.40, Target: S$0.71) Company update - Spotting value by Glenford Tan Swissco is undervalued on all fronts. With record charter rates for offshore support vessels, Swissco's high exposure to the spot market and expected fleet utilisation rates of 73-83% for its 14 offshore support vessels (29 by FY08) promises great earnings potential. We estimate that its fleet has a market value of S$47m. This alone is higher than the S$41m of fixed assets it has booked on the balance sheet. Vessel divestments could see the group reap substantial gains. Furthermore, we estimate conservatively that the potential listing of Swiber, in which Swissco has a 20% stake, could see a gain of S$5m for Swissco. Our target price is raised to S$0.71 from S$0.66 as we roll forward our maintained 10x P/E to CY07, pegged against its closest comparable, Jaya Holdings. Maintain Outperform. |
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knightrider
Elite |
23-Oct-2006 15:02
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H......... ! Still going strong, now reaching 0.465 liao !!!! |
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allantanhc
Veteran |
23-Oct-2006 11:26
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OK. Have taken profit too at 45.5 cents. | |
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knightrider
Elite |
23-Oct-2006 11:22
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Hi, Take profit liao at 0.45 ! Do not wait further, I am not greedy, after making a profit of 0.12c. Good luck. |
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allantanhc
Veteran |
23-Oct-2006 10:35
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Oops! Just went in this morning to buy at $0.43 as it broke the last high at $0.42. Will monitor closely in the light of your input. | |
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singaporegal
Supreme |
23-Oct-2006 10:23
Yells: "Female TA nut" |
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I think this counter has just started on a trend reversal southwards. RSI, Acc/Dist and Chaikin all turning down. | |
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knightrider
Elite |
23-Oct-2006 09:34
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It is going strong for this share ! Hope those who hold this during world cup period did not cut lost or sold when it drops ! Now is time to take profit liao ! | |
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bsiong
Supreme |
12-Aug-2006 16:54
Yells: "The Greatest Wealth is Health" |
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BullRun
Elite |
28-Jul-2006 09:56
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Like it but think it is trading at FV now and upside is limited.. | |
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bsiong
Supreme |
27-Jul-2006 22:49
Yells: "The Greatest Wealth is Health" |
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No, i dont. |
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BullRun
Elite |
27-Jul-2006 22:20
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bsiong, U vested in Swissco? What do you think the FV should be? | |
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bsiong
Supreme |
27-Jul-2006 22:11
Yells: "The Greatest Wealth is Health" |
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Stockking
Master |
08-Jun-2006 19:38
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Ya, almost break the 30c barrier today. Even stock like Jaya is also under attack...look like it may really drop to 25c soon. |
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BullRun
Elite |
08-Jun-2006 12:31
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35c support broken. Gone Case. Will head towards 25c. |
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BullRun
Elite |
27-May-2006 13:11
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Approaching 35c loh!! | |
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