Courage Marine   

Insider Info!!!

Courage Marine: To dispose of a handysize vessel with capacity of approx 36k dwt for US$3.3m (net proceeds of $3.2m) to third party co AII. Co will record a loss on disposal of approx US$1.3m. The vessel's book value was approx $4.5m as of 30 Sept 2011.

Co has been selling its handymax vessels at a loss and renewing the fleet with new supermax vessels. Most recently co posted a loss of $3.4m in 3Q2011 results compared to 812k net profit in the same period a year ago.

 

It is not in my investment radar yet. I am not vested yet.

krisluke      ( Date: 21-Jun-2011 10:24) Posted: HONG KONG, June 21 (Reuters) - Kazakhmys Plc , the world's 10th-largest copper miner, said on Tuesday it would seek a secondary listing in Hong Kong by way of introduction with no shares being issued or sold, with trading in its shares expected to begin on June 29. The largest copper miner in Kazakhstan said in a filing to the Hong Kong bourse that the listing would provide the company with an additional channel to raise capital and enhance its profile in China and Hong Kong. Singapore-listed Courage Marine Group Ltd also said it had applied for a listing in Hong Kong by way of introduction with no shares being issued or sold. Trading in the shares of the dry bulk shipping firm is expected to begin on June 24.

 

HONG KONG, June 21 (Reuters) - Kazakhmys Plc , the world's 10th-largest copper miner, said on Tuesday it would seek a secondary listing in Hong Kong by way of introduction with no shares being issued or sold, with trading in its shares expected to begin on June 29.

The largest copper miner in Kazakhstan said in a filing to the Hong Kong bourse that the listing would provide the company with an additional channel to raise capital and enhance its profile in China and Hong Kong.

Singapore-listed Courage Marine Group Ltd also said it had applied for a listing in Hong Kong by way of introduction with no shares being issued or sold. Trading in the shares of the dry bulk shipping firm is expected to begin on June 24.

 

CourageMarine: Poor 4Q results, rev at US$8.9m was -21.7%yoy +5.2%qoq and net profit was US$12k - 99.6%yoy -98.5%qoq. Rev was impacted by lower freight rates shown through the BDI and the fall in net profit was due partly to an increase of 45% in admin expenses largely attributed to dual-listing costs and staff bonuses. Despite poorer 4Q showing, FY2010 rev was up 66.5% at US$46.5m and profit was at US$9.0m up from 75k last year in 09.

Other income in 4Q fell 94% due to an insurance claim in FY09. Co took delivery of 2 vessels and disposed of its oldest vessel, current tonnage of fleet stands at 580k dwt. Co expects financial performance for 2011 to be adversely affected and notes that the dry bulk mkt has not recovered. Full yr 2010 EPS at US0.85c and trades at approx 17.6x P/E, 1.4 P/B.

 

i share the same sentiments

crclk15      ( Date: 15-Oct-2010 12:52) Posted: Wow. According to Blmberg, it is trading at 16.2x historical PE and 1.4x P/BV. Based on its downbeat comments in 2QFY10 results, I doubt we can annualise the 1H earnings. Furthermore, its setup is not big and exposed to the vagaries of the dry bulk shipping sector. Thus, on a fundamental level, I am a bit hesitant in investing in Courage where they are arguably better stocks around with strong earnings potential. :) My 2 cents worth only. Do visit my financial blog at http://ernestlim15.blogspot.com/p/about-me.html  for writeups on specific stocks and daily news update.

 

Wow. According to Blmberg, it is trading at 16.2x historical PE and 1.4x P/BV. Based on its downbeat comments in 2QFY10 results, I doubt we can annualise the 1H earnings. Furthermore, its setup is not big and exposed to the vagaries of the dry bulk shipping sector. Thus, on a fundamental level, I am a bit hesitant in investing in Courage where they are arguably better stocks around with strong earnings potential. :)

My 2 cents worth only.

Do visit my financial blog at http://ernestlim15.blogspot.com/p/about-me.html  for writeups on specific stocks and daily news update.

 

me also hold for sometime liao.. i duno abt the dual listing news.. but even with that news, i tink this counter needs some rerating from the current px..

 

 

yeah.. i saw insider buy back since few days ago up to yesterday morning at 0.19-0.195.. i suppose this is the support level before it starts to move up! 20-30% is for contra gain only.. i think hold few weeks, it may double its price when news about the company's intention to dual list in HK is confirmed.. previously, the management is still considering.. but now that it is confirmed, i expect this counter to fly!

yahoooooo~!

 

vested few weeks back, saw insiders buying back too. =) will accumulate more when i have spare.

 

yeahh.. i vested few days ago.. my friend who's working there told me they will be making announcement soon.. asked me to buy this counter too.. thanks anyway for the tips :D

good gains, lets share :)

 

Hi Tatawin, thanks for the info.

Vested and good luck!

 

anyone interested in this counter should load up more more more now! the company is currently passing Directors' Resolutions to get SGX approval on the HK dual list! once this news is spread and come to BB awareness, target price would be at least 20-30% increase! short term hold or possible contra gain.