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vested at $1.39.
How come this forum so quiet?? Anyone still holding CAO???
I seriously dont know why CAO drop so much to $1.2 few mths before, but recently it looks not bad, steadily climb back to $1.6, any idea abt this counter??
Wait for Q4 result, should be much better, uptrend will be confirmed
From the chart, $1.97 is a strong support level. As of now, it seems that it has rebounded off this level. But volume is still low generally and that is suspicious to me. U can take a look at the chart i created here
agree mkt is still heading to no where ....jus watch it 1st
Too many uncertainty in the market, watch it first
I got in at 2.43 before the us sub-prime problem, and still holding it till now. I look at the China market, long term will be something I cannot imagine. So, to invest must decide long or short term?! If short term, must avoid it, else this is a good price to buy for long term.
any advise for buying ChinaAoil at current price? I think it's showing re-bound trend. RSI also tells the same thing
All S-share will retreat because their dear Mr Hu had recommended to relook into QDII and delay investors to invest oversea.
if its quarter earning is so much better, why a drop in share price? can go in now?
CAO records net profit of US$10.5 million in 3Q 2007
SINGAPORE, 5 November 2007 ? China Aviation Oil (Singapore) Corporation Ltd ("CAO") today announced its results for the third quarter ended 30 September 2007.
The Group recorded a net profit attributable to shareholders (?net profit?) of US$10.5 million in 3Q 2007, compared to US$7.6 million for the same period last year, representing an increase of 39%. The increase in net profit was mainly attributable to a substantial increase in interest income and a significant reduction in finance costs.
In 3Q 2007, CAO procured and supplied 1.07 million Metric Tonnes (?MT?) of jet fuel which was a decrease of about 17% as compared to 3Q 2006 where 1.29 million MT of jet fuel was procured and supplied. The total volume of jet fuel procured and supplied during the first three quarters of 2007 was 2.90 million MT, a reduction of 13% compared to the corresponding period last year.
Mr Zhang Zhenqi, Executive Director and General Manager of CAO, said, ?The decline in total volume of jet fuel procured and supplied for the first three quarters was due to a decrease in demand for jet fuel imports in China corresponding to an increase in China?s domestic production of jet fuel.
?Going forward, jet fuel demand in China is expected to grow with increased air travel. However, the import level is linked to domestic production,? said Mr Zhang.
The Group?s revenue for 3Q 2007 was US$747.4 million as compared to US$925.2 million for the same period last year, representing a decrease of 19%. This reflects the drop in total volume of jet fuel procured and supplied during the quarter.
Despite lower procurement volumes in 3Q 2007, gross profit during this period was 5% higher at US$3.5 million. Gross profit in 3Q 2006 was lower due to a downward adjustment of the fixed margin per barrel for supplies to a major customer in 2Q 2006 being recorded in 3Q 2006. The purpose of the adjustment was to bring the pricing in line with other key customers.
Interest income was 71% higher at US$2.5 million in 3Q 2007. This was due to higher bank balances mainly from the proceeds of the sale of CAO?s stake in Compania Logistica de Hidrocarburos, S.A. (?CLH?) in 1H 2007.
Finance costs declined 95% to US$0.1 million as a result of substantial interest savings for CAO from the accelerated full repayment of debts under the Creditors? Scheme, which was announced on 17 May 2007. The accelerated payment was financed by part of the proceeds from the sale of CLH stake. The significant decline in finance costs contributed to a decline of 42% in the Group?s total expenses in 3Q 2007.
The Group?s 33% share of the results of its associated company, Shanghai Pudong International Aviation Fuel Supply Company Ltd (?SPIA?) was US$7.5 million for 3Q 2007 compared to US$7.1 million for 3Q 2006, an increase of 6%. This was mainly attributable to the short-term rise in China?s domestic supply of jet fuel, which has helped to lower SPIA?s average cost of sales and thus resulted in an improvement in its gross profit.
The Group?s financial position has continued to improve during the quarter. Net tangible assets (?NTA?) per share as at 30 September 2007 stood at US$0.3581, an increase of 5% over US$0.3412 as at 30 June 2007. Cash and cash equivalents increased 14% over the quarter to US$187 million as at 30 September 2007.
Up on talk of some "asset injection".
I hope the new management wake up its idea...
CAO has a steady and monopoly mkt in supplying jet fuel to some of the airports in china. With the BP involvment in the management and the benefit of bitter experience in oil trading; I think CAO should be doing ok in short to medium term
Price well supported above 1.10
I went contra this morning thinking this stock was cheap given the amazing results. But after looking more closely at the results, i decided to sell. Waiver of debt S$312mn was included as other operating income (This one really champion).
Net Profit 2006: S$369mn (1,272% increase)
Adj Profit 2006: S$57mn (97% increase)
Net Profit 2005: S$29mn
Today's closing: S$1.15, representing mkt cap S$723mn. Effectively, P/E is 12.7x
Not really cheap given the volatility of the business.
well...i thk CAO mgt is trying to entice investors with by declaring a small divd....anyway this co. is still in debt for a few years right?? or has it been paid off at one go liao ??? :D
guess today winner are those contra players who play with this at 1.10 all the way 1.23, and start throwing until now 1.14... well, no doubts this is a good stocks for long term, but clear off the dust first and enter at discounted bargain price. no need to chase the price..
well for once i agreed with him...is abit high but is reachable with some pushing factor.. US time
can add another few more cents later? 
| 13:44 | Crude oil trades to new session high, now 61.70 +0.24 |
Dear Readers,
Long term to reach above Sgd. 3.00 will not be a problem at all!!!
agreed.. great potential based on their results.