CosmoSteel    Last:0.126   -

Prospect of Cosmosteel

Hello??? Anybody still here?

 

Saw that this thread was created in 2007. That was 6 years ago! There are some brothers who write on this thread in 2009.  Are these brothers still around or have since given up stock investing now?. Just curious!

 

Useless counter.   Sold all I had and some more short abit (30 lots) and hope it dips further for me to cover. Wahahaha.   I not interested in Myanmar ISDN, Myanmar Magnus or Myanmar Cosmosteel.   Make some ler! Hahahaha!!

 

FUNNY. This guy going to Myanmar and seems players no hue. I was thinking of buying big, but pulled the brakes as cannot see the rush yet. Any take you guys?

 

CosmoSteel posts 41% surge in earnings to $13.7m in FY09 
 
The Group reported a 40.9% surge in earnings to $13.7 million for the 12 months
ended 30 September 2009 (FY2009) on the back of $136.9 million in revenue.
 
At the same time, the Group recrded a Net Asset Value (NAV) per ordinary share of
34.32 cents as at 30 September 2009, compared to 24.86 cents a year ago.
 

 

All the bling bling doesn't need to be gold! Another shining metal is Cosmosteel, holding co. of Kim Seng Huat. It has a strong reputation in supplying and distributing pipe system components. The customers include those in the Energy, Marine, Trading, Manufacturing and Pharmaceutical sectors. Revenue increased by $43.5mil or 102.6% from $42,4ml in HY2008 to $85.9mil in HY2009. The increase in revenue was attributed by volume in inventory to meet orders from new and existing customers. Profit after tax has more than doubled in 2009 (121%).

zz2425      ( Date: 18-Sep-2009 15:18) Posted: Hi, I'm holding some stocks of Cosmosteel. So with the placement what is the advise, do I release (at a loss) or hold on first till price is more favourable. What is the risk? Appreciate any advise on this as not very sure on this placement issue. Rgds. Greenhorn

 

Hi, I'm holding some stocks of Cosmosteel. So with the placement what is the advise, do I release (at a loss) or hold on first till price is more favourable. What is the risk?


Appreciate any advise on this as not very sure on this placement issue.

Rgds.

Greenhorn

 

CosmoSteel to raise up to S$17.29 million through placement of up to 35 million new shares





SINGAPORE – 17 September 2009 – CosmoSteel Holdings Limited (“CosmoSteel”
or together with its subsidiaries, the “Group”), a leading supplier and distributor of
piping system components to the Energy, Marine and Water industries in Southeast Asia
and the region, is planning to raise up to S$17.29 million through a private share
placement (“Placement”).
The Group announced today that it intends to issue up to 35,000,000 new ordinary shares
(“Placement Shares”) in the capital of the Company at an issue price of S$0.494 per
Placement Share (the “Issue Price”). The proposed placement represents approximately
19.86% of the Group’s existing issued share capital of 176,200,000 shares.
The placement agent for this exercise is Kim Eng Securities Pte. Ltd.• Proceeds will be used for the Group’s working capital

 

That means more downside than upside?  NRA website - any research finding?

 

boost up profit thru channel stuffing just for IPO; look at their receivable.

 

Open on the first day with a premium of more than 250%.   Any learned member who has an idea of the prospect of Cosmosteel, e.g. based on NRA research. Small float - only 45million shares.