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Latest Forum Topics / COSCO SHP SG    Last:0.136    -0.001  Post Reply
CoscoCorp
CheongCK
Senior
08-May-2010 08:12     
 
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07 May 2010

Baltic Dry Index (BDI)    +140   3608
Rates

BCI

(Cape index)

BPI

(Panamax index)

BSI

(Supramax index)
INDEX

4348

+307

4062

+44

2888

+71
SPOT 4 TCE AVG (USD)

43686

+3647

32679

+351

30196

+736
YESTERDAY (USD)

40039

32328

29460
YEAR AGO (USD)

23744

13658 14952

Spot 4 TC Average = The Average Value of the Four Main Shipping Routes applicable for each of the 3 types of Ships
BDI=The Weighted Composite Index of BCI/BPI/BHMI

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L.....
Veteran
07-May-2010 15:10     
 
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 Alert Admin 		go for gold, go for yzj!!!

pharoah88      ( Date: 07-May-2010 15:02) Posted:

At this moment, YZJ is the better choice.

S$0.035  Dividend  EX on next  Monday.

Guaranteed  S$0.035  CASH  BACK.

nOw  S$1.30  is  a  gOOd  PRiCE 

since this mOrning was S$1.34.   

 



alexchia01      ( Date: 07-May-2010 11:31) Posted:

I disagree that 4% profit drop is not important.

During this market sell down, most stocks are attractive.

If the market is to rebound, fundamentally strong stocks will rebound first, stronger and higher.

This 4% drop will delay Cosco rebound.

Why buy a fundamentally weak stock when you can buy a fundamentally strong stock at a low price.

To me, YangZiJiang is probability a better choice because it has a more consistent positive results.
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pharoah88
Supreme
07-May-2010 15:05     
 
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 Alert Admin 		COSCO  at  S$1.44  is  gOOd  PiCK
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pharoah88
Supreme
07-May-2010 15:02     
 
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At this moment, YZJ is the better choice.

S$0.035  Dividend  EX on next  Monday.

Guaranteed  S$0.035  CASH  BACK.

nOw  S$1.30  is  a  gOOd  PRiCE 

since this mOrning was S$1.34.   

 



alexchia01      ( Date: 07-May-2010 11:31) Posted:

I disagree that 4% profit drop is not important.

During this market sell down, most stocks are attractive.

If the market is to rebound, fundamentally strong stocks will rebound first, stronger and higher.

This 4% drop will delay Cosco rebound.

Why buy a fundamentally weak stock when you can buy a fundamentally strong stock at a low price.

To me, YangZiJiang is probability a better choice because it has a more consistent positive results.



iwonder      ( Date: 07-May-2010 11:19) Posted:

Lower profit by 4% is not important...the recent sell down makes it attractive.

The best time to buy is when markets are down

Are we now in bear markets? Fundamentals have not changed very much.

 It is just sentiment ......when there is excessive fear......it is time to nibble a bit.

I am very pleased that there are a lot of people posting...it shows that all are still rational.

If there is a day when people feel too fed up to post or sick of the market......then it is the best time to accumulate....but I doubt such a day will happen.

 
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pharoah88
Supreme
07-May-2010 14:58     
 
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I was watching other counters.

When i checked on COSCO, it was already S$1.52 / 3.

Missed the cherries.



shoemaker      ( Date: 07-May-2010 10:52) Posted:

Did you manage to get in?

pharoah88      ( Date: 07-May-2010 10:21) Posted:



Friday: 7 MAY 2010  9AM

bOttOm  chErriEs

S$1.48

 

COSCO Q1 PROFIT SLIPS 4 PER CENT
--------------------------------
Mainboard-listed shipping firm Cosco said its first quarter profit slipped 4 per cent on year to $31.7 million.

The lower profit came on the back of a decline in turnover from ship repair, ship conversion and dry bulk shipping....
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CheongCK
Senior
07-May-2010 13:20     
 
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 Alert Admin 		06 May 2010

Baltic Dry Index (BDI)    +89   3468
Rates

BCI

(Cape index)

BPI

(Panamax index)

BSI

(Supramax index)
INDEX

4041

+124

4018

+67

2817

+62
SPOT 4 TCE AVG (USD)

40039

+1798

32328

+535

29460

+658
YESTERDAY (USD)

38241

31793

28802
YEAR AGO (USD)

22094

12487 14957

Spot 4 TC Average = The Average Value of the Four Main Shipping Routes applicable for each of the 3 types of Ships
BDI=The Weighted Composite Index of BCI/BPI/BHMI

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bh704428
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07-May-2010 11:34     
 
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is this 1.86 TP 1st released today by POEMS?

But my broker say got 1 brokerage just kenna underperform call on COSCO to give a 1.41 TP leh

 

 



tanweechong      ( Date: 07-May-2010 10:23) Posted:



TP up $1.86 Poem

 

• 1Q10 revenue of S$835.0m, net profit of S$31.7m • Lower shipping rates and lesser contributions from ship repair and conversion • Maintain buy recommendation with fair value raised from S$1.45 to S$1.86

 

1Q10 results

Cosco reported 1Q10 revenue of S$835.0m (+17% y-y) and net profit of S$31.7m (-4% y-y).

There was higher revenue from ship building and marine engineering projects that offset lower revenue from ship repair, ship conversion and dry bulk shipping. Net profit declined because of lower dry bulk shipping rates and lesser contributions from ship repair and conversion.

 

FY2009 FY2010F FY2011F FY2012F

S$m

Revenue Net profit

Earnings estimates for FY2010F to FY2012F We believe that the worst is over and FY2010 will be a better year for Cosco. In fact, we expect profit contributions from the shipbuilding contracts that Cosco obtained before the financial crisis as well as the recent US$500m contract for Sevan Driller II Rig, which Cosco won in March 2010. Based on our estimates, net profit is expected to increase from S$110.1m to S$138.9m in FY2010F, S$138.4m in FY2011F and S$139.1m in FY2012F.
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solar2008
Senior
07-May-2010 11:33     
 
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 Alert Admin 		when open whack 50 lots at 1.50.

tanweechong      ( Date: 07-May-2010 10:23) Posted:



TP up $1.86 Poem

 

• 1Q10 revenue of S$835.0m, net profit of S$31.7m • Lower shipping rates and lesser contributions from ship repair and conversion • Maintain buy recommendation with fair value raised from S$1.45 to S$1.86

 

1Q10 results

Cosco reported 1Q10 revenue of S$835.0m (+17% y-y) and net profit of S$31.7m (-4% y-y).

There was higher revenue from ship building and marine engineering projects that offset lower revenue from ship repair, ship conversion and dry bulk shipping. Net profit declined because of lower dry bulk shipping rates and lesser contributions from ship repair and conversion.

 

FY2009 FY2010F FY2011F FY2012F

S$m

Revenue Net profit

Earnings estimates for FY2010F to FY2012F We believe that the worst is over and FY2010 will be a better year for Cosco. In fact, we expect profit contributions from the shipbuilding contracts that Cosco obtained before the financial crisis as well as the recent US$500m contract for Sevan Driller II Rig, which Cosco won in March 2010. Based on our estimates, net profit is expected to increase from S$110.1m to S$138.9m in FY2010F, S$138.4m in FY2011F and S$139.1m in FY2012F.
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alexchia01
Elite
07-May-2010 11:31     
 
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I disagree that 4% profit drop is not important.

During this market sell down, most stocks are attractive.

If the market is to rebound, fundamentally strong stocks will rebound first, stronger and higher.

This 4% drop will delay Cosco rebound.

Why buy a fundamentally weak stock when you can buy a fundamentally strong stock at a low price.

To me, YangZiJiang is probability a better choice because it has a more consistent positive results.



iwonder      ( Date: 07-May-2010 11:19) Posted:

Lower profit by 4% is not important...the recent sell down makes it attractive.

The best time to buy is when markets are down

Are we now in bear markets? Fundamentals have not changed very much.

 It is just sentiment ......when there is excessive fear......it is time to nibble a bit.

I am very pleased that there are a lot of people posting...it shows that all are still rational.

If there is a day when people feel too fed up to post or sick of the market......then it is the best time to accumulate....but I doubt such a day will happen.

 



shoemaker      ( Date: 07-May-2010 10:52) Posted:

Did you manage to get in
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iwonder
Veteran
07-May-2010 11:19     
 
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Lower profit by 4% is not important...the recent sell down makes it attractive.

The best time to buy is when markets are down

Are we now in bear markets? Fundamentals have not changed very much.

 It is just sentiment ......when there is excessive fear......it is time to nibble a bit.

I am very pleased that there are a lot of people posting...it shows that all are still rational.

If there is a day when people feel too fed up to post or sick of the market......then it is the best time to accumulate....but I doubt such a day will happen.

 



shoemaker      ( Date: 07-May-2010 10:52) Posted:

Did you manage to get in?

pharoah88      ( Date: 07-May-2010 10:21) Posted:



Friday: 7 MAY 2010  9AM

bOttOm  chErriEs

S$1.48

 

COSCO Q1 PROFIT SLIPS 4 PER CENT
--------------------------------
Mainboard-listed shipping firm Cosco said its first quarter profit slipped 4 per cent on year to $31.7 million.

The lower profit came on the back of a decline in turnover from ship repair, ship conversion and dry bulk shipping....
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shoemaker
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07-May-2010 10:52     
 
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 Alert Admin 		Did you manage to get in?

pharoah88      ( Date: 07-May-2010 10:21) Posted:



Friday: 7 MAY 2010  9AM

bOttOm  chErriEs

S$1.48

 

COSCO Q1 PROFIT SLIPS 4 PER CENT
--------------------------------
Mainboard-listed shipping firm Cosco said its first quarter profit slipped 4 per cent on year to $31.7 million.

The lower profit came on the back of a decline in turnover from ship repair, ship conversion and dry bulk shipping....
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tanweechong
Member
07-May-2010 10:23     
 
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TP up $1.86 Poem

 

• 1Q10 revenue of S$835.0m, net profit of S$31.7m • Lower shipping rates and lesser contributions from ship repair and conversion • Maintain buy recommendation with fair value raised from S$1.45 to S$1.86

 

1Q10 results

Cosco reported 1Q10 revenue of S$835.0m (+17% y-y) and net profit of S$31.7m (-4% y-y).

There was higher revenue from ship building and marine engineering projects that offset lower revenue from ship repair, ship conversion and dry bulk shipping. Net profit declined because of lower dry bulk shipping rates and lesser contributions from ship repair and conversion.

 

FY2009 FY2010F FY2011F FY2012F

S$m

Revenue Net profit

Earnings estimates for FY2010F to FY2012F We believe that the worst is over and FY2010 will be a better year for Cosco. In fact, we expect profit contributions from the shipbuilding contracts that Cosco obtained before the financial crisis as well as the recent US$500m contract for Sevan Driller II Rig, which Cosco won in March 2010. Based on our estimates, net profit is expected to increase from S$110.1m to S$138.9m in FY2010F, S$138.4m in FY2011F and S$139.1m in FY2012F.
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pharoah88
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07-May-2010 10:21     
 
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Friday: 7 MAY 2010  9AM

bOttOm  chErriEs

S$1.48

 

COSCO Q1 PROFIT SLIPS 4 PER CENT
--------------------------------
Mainboard-listed shipping firm Cosco said its first quarter profit slipped 4 per cent on year to $31.7 million.

The lower profit came on the back of a decline in turnover from ship repair, ship conversion and dry bulk shipping....
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shoemaker
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07-May-2010 10:04     
 
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 Alert Admin 		This counter still holding up... BUT GROSS PROFIT DROP BY 32%!!! Hurry!!  What's everyone waiting for!! Sell Sell Sell!!! Sell to me!!!
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shoemaker
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06-May-2010 18:03     
 
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honestly, you may not agree with what i'm saying but how much do you expect the profits to increase? this qtr's results is still mostly based on orders from 2008, i.e. revenue for new orders will only be reflected ard 2 years later. i would think the next couple of qtrs would be about the same as this qtr's. it's really not the immediate revenues that I would be interested in but what's beyond - new orders coming in and general outlook.

i definitely welcome anyone to sell off because of the "disappointing" Q1 results and i'll be at the bottom scooping up more of these shares. only time will tell who will be the eventual winner...
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nickyng
Supreme
06-May-2010 17:43     
 
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 Alert Admin 		err...r u implying the subsequent qtr result u will see key words like "profit waned 32% from last qtr to present qtr...etc" but as long as still making profit is OK ?!??! :) wow....u r gd...accountant-trained? massaging financial report siah ! :D

shoemaker      ( Date: 06-May-2010 17:32) Posted:

I believe it will not be spectacular, as the management will still be very cautious and would probably "ration" the revenues for future qtrs (hallmark of a good management team is to ensure long term growth of the company). But as long as it is not way too much below expectations it should not affect the price much. New orders and future prospects of the maritime industry would play a bigger role in the price of this counter... just my 2 cts
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pharoah88
Supreme
06-May-2010 17:35     
 
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 "Gross profit waned 32.9% from $116.9 million in Q1 2009 to $78.5 million in Q1 2010"

WiLL  COSCO  RETRACE  tO  S$1.44 ?

S$1.44  [61.8%]



nickyng      ( Date: 06-May-2010 17:16) Posted:



 

 haha...as expected !! ...read the key word "Gross profit waned 32.9% from $116.9 million in Q1 2009 to $78.5 million in Q1 2010"......


 

SINGAPORE (6 May 2010) – Singapore Exchange (“SGX”) mainboard-listed
COSCO Corporation (Singapore) Limited (“COSCO” or the “Company”), a leading
ship repair & marine engineering and shipping group, today announced its financial
results for the first quarter ended 31 March 2010.
The Group achieved a 16.9% increase in turnover to $835.0 million in Q1 2010 boosted
by higher revenue from shipbuilding and marine engineering projects in spite of lower
revenue recognized from ship repair, ship conversion and dry bulk shipping. Turnover
from shipyard operations climbed 20.3% to $800.1 million on the back of strong
progressive revenue recognition for the Group’s ship building and marine engineering
projects. Turnover from dry bulk shipping business slipped 30.7% to $32.0 million as
expired long-term charters were leased on short-term basis at new lower rates.
ha
mainly due to lower dry bulk shipping charter rates and lower profit contributions from
ship repair and conversion business amidst a difficult business environment. As a
result, net profit attributable to equity holders of the Company decreased 4.3 % from
$33.2 million in Q1 2009 to $31.7 million in Q1 2010.
Mr. Jiang Li Jun, Vice Chairman and President of the Company said, “We are
encouraged by our successful business expansion and resilient profit in another
challenging quarter for the shipping industry. As the global recovery appears to be
gaining some traction, our Group maintains a cautious outlook for the rest of 2010 as
business, industry and private demand conditions remain uncertain, and various
governments begin unwinding some of their stimulus measures.”
The Group successfully delivered 8 dry bulk carriers in the 1st quarter of 2010. Of
these, COSCO Dalian delivered 4 bulk carriers while COSCO Zhoushan and COSCO
Guangdong shipyard delivered 2 bulk carriers each. The Group will continue to focus
on deliveries while it upgrades its shipyard capabilities and efficiencies and control
costs.
3
The Group has an order book of US$5.9 billion as of 31st March 2010 with progressive
delivery up to 2012 which will keep the Group’s shipyards busy. This order book is
subject to revision from any cancelation of orders or new orders that may arise.
“Our Group will continue to leverage on the strength of our well-diversified business to
remain competitive and to consolidate our strategic position in the industry.” Mr. Jiang
added.
Barring any unforeseen circumstances, the Group expects to stay profitable in 2010

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shoemaker
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06-May-2010 17:32     
 
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 Alert Admin 		I believe it will not be spectacular, as the management will still be very cautious and would probably "ration" the revenues for future qtrs (hallmark of a good management team is to ensure long term growth of the company). But as long as it is not way too much below expectations it should not affect the price much. New orders and future prospects of the maritime industry would play a bigger role in the price of this counter... just my 2 cts
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Bon3260
Supreme
06-May-2010 17:31     
 
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FIRST QUARTER RESULTS * FINANCIAL STATEMENT AND RELATED ANNOUNCEMENT
* Asterisks denote mandatory information
 
Name of Announcer * COSCO CORPORATION (S) LTD  
Company Registration No. 196100159G  
Announcement submitted on behalf of COSCO CORPORATION (S) LTD  
Announcement is submitted with respect to * COSCO CORPORATION (S) LTD  
Announcement is submitted by * Jiang Li Jun  
Designation * Vice Chairman / President  
Date & Time of Broadcast 06-May-2010 17:09:38  
Announcement No. 00048  
 
 
>> ANNOUNCEMENT DETAILS
The details of the announcement start here ...
 
For the Financial Period Ended * 31-03-2010  
Description Please refer to the attachments.  
 


 
Attachments
Total size = 147K
(2048K size limit recommended)
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pharoah88
Supreme
06-May-2010 17:29     
 
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CoscoCorp Symbol:
F83 		Currency:
Singapore Dollar
Last: 1.56 -0.03 Vol (K): 73879.0
Trading
Updated Time 06-May 17:05
Open 1.59 High 1.62 Low 1.5
Prev Close 1.59 Buy - Sell -
Volume(K) 73879.0 Buy Vol(K) - Sell Vol(K) -
52 Wk High 1.86 52 Wk Low 0.92 52 Wk Avg Vol 16148.987
All Time High 8.2 All Time Low 0.605    
Comments No Info

*Reporting Currency in SGD
Important: ShareJunction obtains our finance data from a third party. Check financial year before use. EPS values are recorded up to two decimal points.
Financials
Date Updated 30-Apr-2010 Financial Year 31-Dec-2009
Current Year Profit
(After Tax) $'000,000		 110.08 Previous Year Profit
(After Tax) $'000,000		 302.588
Net Asset Per Share 0.48 Turnover $'000,000 861.16
Current Year EPS
(After Interest and Tax)		 0.05 Previous Year EPS
(After Interest and Tax)		 0.14
PE Ratio (After Tax) 35.0 Times Covered 1.6
Price (at update time) 1.75 Dividend Yield 0.02

*Technical Analysis Information is updated Daily
Technicals
RSI 47.36 Williams %R -87.5
Comments (RSI) No Info Comments (W%R) Oversold

Intraday Chart

 
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