iMMEDiATE

TARGET

S$1.80

this mOrning's profit taking at S$1.61

was the PERFECT  TiME  tO  lOad  UP

pharoah88      ( Date: 13-Apr-2010 10:57) Posted: CoscoCorp Symbol: F83 Currency: Singapore Dollar Last: 1.71 + 0.06 Vol (K): 26675.0 Corporate Action - Cum Dividend Trading Updated Time 13-Apr 10:35 Open 1.65 High 1.73 Low 1.61 Prev Close 1.65 Buy - Sell - Volume(K) 26675.0 Buy Vol(K) - Sell Vol(K) - 52 Wk High 1.65 52 Wk Low 0.82 52 Wk Avg Vol 15771.683 All Time High 8.2 All Time Low 0.605     Comments Near 52 wk high *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 31-Mar-2010 Financial Year 31-Dec-2008 Current Year Profit (After Tax) $'000,000 302.588 Previous Year Profit (After Tax) $'000,000 336.568 Net Asset Per Share 0.51 Turnover $'000,000 210.98 Current Year EPS (After Interest and Tax) 0.14 Previous Year EPS (After Interest and Tax) 0.15 PE Ratio (After Tax) 8.9 Times Covered 1.9 Price (at update time) 1.24 Dividend Yield 0.06 *Technical Analysis Information is updated Daily Technicals RSI 84.27 Williams %R 0.0 Comments (RSI) Overbought Comments (W%R) Overbought Intraday Chart   Day High  S$1.73  nOt  plOtted  yet

Biggest IPO in Singapore by a Chinese New Century Shipbuilding

SINGAPORE

New Century, based in Jingjiang in south-eastern China, may sell a 30-per-cent stake in the IPO, the sources said. They declined to be identified because they are not authorised to discuss the deal publicly.

The sale would be the third in Singapore by a Chinese shipbuilder and almost 60-per-cent larger than Jiangsu-based Yangzijiang Shipbuilding (Holdings) IPO in 2007. New Century scrapped plans to go public here in 2008 due to the global economic slump.

China is boosting production at its yards to overtake South Korea as the world’s biggest shipbuilding country by 2015. Gross shipbuilding tonnage, an industry measure of capacity, totalled 9.18 million tonnes in the first two months of the year in China.

That gave the country a market share of 46.1 per cent. Its new orders at the end of February were 5.72 million tonnes, accounting for 51.9 per cent of the global market.

UBS and Morgan Stanley are arranging the sale, with UBS acting as global coordinator, said the people. Ms Rachel Lin, a spokesperson at UBS in Singapore, and Morgan Stanley’s Hong Kong-based spokesperson Noel Cheung declined to comment.

Officials at New Century Shipbuilding couldn’t immediately be reached.

The firm and sale arrangers plan a 10-day global tour to promote the IPO at the end of April. The shares will be priced in the first half of May and begin trading on the Singapore Stock Exchange in the middle of the month, they said.  — New Century Shipbuilding plans to raise as much as $1.5 billion in the biggest initial public offering (IPO) by a Chinese company in Singapore, said two people with direct knowledge of the matter.Bloomb erg

Let's revisit the conditions needed for the stock to reach $8...

1) Positive market sentiments, when it's clearly a bull maket and STI reaches its 2007 peak of 3,800 and beyond

2) Total book orders of US$8B and still growing

3) Returning to BDI levels in 2008, i.e. above 10k...

For sure COSCO will return to double digit profit margins. COSCO's low profit margin now is due to it undergoing a pretty rough patch temporarily (high steel prices, low freight rates, order cancellations) but will emerge largely unscathed and grow even stronger than before.

If you believe the market will return to its 2007/08 heydays in 2 years, then yes, NOTHING is preventing it from going back to $8.

Actually if not for the major downturn, it's price would have continued upwards to above S$10... but well, that's just my thought...

May not be in the near future to be at $7+ level, maybe another 1-2 yrs where

- It's revenue double to 4B with double digit profit margin. (currently low single digit)

- The Baltic dry index cross 10K. ( current 3K+)

- oil price US$140 (current 80+)