BengKuang   

TIME TO BUY -ACCUMULATE NOW

That's Good News

 

Beng Kuang Marine Limited 14 Nov 2007

Earnings Lifted by Non-operating Income

Snapshot P&L Key ratios (07F)

Recommendation Buy

Current Price S$0.82 Sales (S$m) 70.6 99.7 136.2 P/BV 3.5x

Target Price S$0.94 EBITDA 7.4 10.5 15.9 Div yield 1.5%

No of Shares 128.237m Earnings 3.8 5.1 7.8 ROE 17.5%

Market Cap S$105.15m EPS (Scts) 3.3 4.0 6.1 Net gearing 40%

Year Hi/Lo S$1.05/0.24 EPS growth (%) 68.0 21.6 52.4 Current ratio 1.2x(Y/E Dec) FY06 FY07F FY08F PER 20.6x

Source: SIAS Research, Bloomberg

 

reply to osaka ..normally biz times first to pulish the EGM date and U'll get after that in 2 to 3 days time the circulars..1 to 2 weeks after EGM ..bookclose and normally 1 week after EGM ex date

 

can hold, hold, or buy in more at cheap price now.


i sold my BKM during last dow drop, but i buy back again at higher price. 

 

Bought 20lots @)0.94. Shd i wait for EGM/Stock split?

 

787180 End of month EGM ?

 

further comfirmation see how BROTHERS shares move from 48 to 59cts now once it is traded CA..that will apply to BengKuang once cum sign or cum all sign is on..by then the counter would hve moved at least 10-20cts

 

idea: Why some cos say Splitting good... why  arh :?:[/quote]...When penny stocks like BBR or digiland where there are billions of share scripts it's better to consolidate the shares to increase its penny status possibly to trade >$1 after the consolidation just like JapanLand..at 11cts now $1.04..


Stocksplit is the reverse of consolidation...when the co's shares are illiquid..stocksplit will increase its marketability and normally after ex-all the share price closed above the theoretical price...the sum of its parts now is more than its whole...may attract institution's attention...eg BengKuang may increase from its current of ab 130mil to ab 390mil shares...notice BengKuang very few sellers,,expect the push will be easier as date of EGM or cum draws nearer...

 

 

quote="pigcanfly007"]I will be a very happy man :lol:  :lol:[/quote]


Juitian to cross >70cts need time ..recently after its ex-bonus and ex warrants it was pushed to 70-82cts against its theoretical ex price of ab 60cts( $3.02 /5)..after that it came down as new shares and warrants were credited to  CDP...

And applying this to BengKuang which has just be given in principle blessing by SGX on 5Nov..by he time major papers published its EGM date or when circulars are dispatched to shareholders don't expect to get at this price 87.5cts today.

Why safe? during Oct 19 sharp correction it dropped momentarily to 81cts and by end of day crept back to 86cts and on mon and tue 29 and 30 Oct...it broke out of its chart  92cts on nol >2mil unlike its daily average vol of ab 300-500lots...When dubai dry dock successfully acquired Labroy..most biz will be passed to BKM..Pan United was successful acquired by Dubai...and Pan United is also a customer of BKM like most major shipyards in S'pore.Dubai world Port successfully acquired P & O and has apllied for IPO in Dubai may provide synergy or even take over BKM in the near future..say at 90cts ex all price is ab 30cts but I expect it to trade>40cst..its recent pte placement price to institutions at 38cts..can consider if U can hold but definitely not for contra please

 

Tom-morrow wrote: happyday wrote: By today all those who hve bought at high of 95cts last Mon and Tue 29 and 30 Oct would hve contra out...saw the offer price creeping up from 86 ..86.5..87..87.5( 1 seller only)..even at 90 cts after ex theoretical price is 30cts and most likley close >40cts as the usual norm.Can Anyone enlighten whether Dubai Dry Dock have to also take over the associate co(38% own by parent co Labroy) or must they seek exemption from SGX? How you know there were many Contraian??? Wouldn't it be the BBS are unloading??? ] If I were to be the major share holder... I would unload some and get my lovely cash!!! What is the different... if you buy now and the share is going to be splited into 3??? ..I've been doing a study on stocks and warrants/rights b4 proposal and after proposal..esp with such thinly traded counter like BKM as the EGM date draws nearer..price starts to creep up....and 1 week b4 it went ex all price will normally go up 10 to 30cts more as my above cited stocks have proven so probably co wanted to push higher so the ex price will not drop so fast...after ex 2 to 3 days the counter will go higher the theoretical price ..see Juitian..after ex shd be 55cts but it went up to 82 before adjusting back to ab 60cts now..in this volatile trading condition better to stick to counters with such proposal..even if it dropped the recover is very fast..using Juitian as an example again..during Aug 17 sharp correction it drop to $1.90 and when market improves a littlw..it shot to $3.00 wow within a week or so with the word cum next to the stock

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i will queue at 85c today. (drop alittle leh)

 

Osaka..very unlikley U can get at 82cts anymore now that SGX has given the go ahead for its stocksplit..reckon any price 90cts and below still ok..ex all  price ab 30cts..expect to trade above 30..possibly>40cts..I accumulate 250lots from 80 to 90cts so after ex should hve 750 lots...

 

Posted: Tue Nov 06, 2007 9:55 am    Post subject: By today all those who hve bought at high of 95cts last Mon and Tue 29 and 30 Oct would hve contra out...saw the offer price creeping up from 86 ..86.5..87..87.5( 1 seller only)..even at 90 cts after ex theoretical price is 30cts and most likley close >40cts as the usual norm.Can Anyone enlighten whether Dubai Dry Dock have to also take over the associate co(38% own by parent co Labroy) or must they seek exemption from SGX?

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Hi Veteran787180

That time very kan jiong sell at 0.84, i hope to buy back at 82cents.

Hope tomolo drop some more. (Please just for me)

I am very in love with this stock


 

 

Joined: 20 Apr 2007 Posts: 2599

Posted: Mon Nov 05, 2007 7:16 pm    Post subject: BengKuang receive SGX approval for its 3 for 1 stocksplit BKM has received SGX blessings for its 3 for 1 stocksplit..expect circulars to be despatched to shareholders soon as EGM is called.Normally 2 weeks after EGM books will be closed to determine sh holders entitlement. http://info.sgx.com/webcorannc.nsf/b3b0c35c9025f91e4825735f00232564/67f2d93286a73a1b4825738a0039bf3d?OpenDocument

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Posted: Mon Nov 05, 2007 10:38 am    Post subject:
extracted from Labroy marine CNA thread... watch out for bengkuang marine... labory marine had a 38.8% in it... if Dubai Drydock World managed to takeover labory marine, they may had to make an offer for bengkuang since it's shareholding had crossed 30%...[/quote]..accumulate BKM already...> for its 3 for 1 stocksplit propose on Aug 6...incidentally BKM also has a shipyard in Singapore reported in copy 308 of Share Investment....possible synergy once DP world get listed in Nov 22..BKM may reap hull corrosion prevention and infrastructure engineering from Dubai DryDocks

 

quote="CTL"]Good Observation, hope Mr Tan will show some interest in this one  :roll:[/quote]..normally  after the T+7 days for those who hve longer contra period. is over price recover very fast...

 


quote="CTL"]Go to the other related topic.  8)[/quote]..Thks for reply CTL..Benngkuang..drop becoz 29/10 and 30/10 mon and tue respectively..high  vol reached high price of 95cts and those who can't pick up sell lor...once after tue..U'll see creep above 90cts again...on Oct 19..panic selling drop to low 81cts within same day recover to 87cts..and > resilient to downside now..on Aug 17 sharp correction drop to 68 low creep back fast to 78-80cts ..see the low price keep adjusted upwards...safe to accumulate...esp with its 151% jumo in profits announced on Oct 31...possible synergestic effect with Dubai Port who will buy over its parent Labroy..and no fear as BengKuang contacts are all in S$..BK also in wate recycling and infrastructure engineering..purchase of 32.8ha of waterfront land In Batam and BK also has a one-ha shipyard in SIngapore(source..Share investment copy 308-a special write up on this co)

 

Hi,

Any potential downside? Like DJIA futures -42 pts. Will it drop further tmr.

 

Those who bought on Mon 29/10 and tue 30/10 at a high of 95cts are trying to sell as likely unable to pick up ..temporary weakness..good to stock up

 

Osaka..time for U to buy bk cheap at 86cts

 

 

Presently  all  of Labroy's corroison prevention and maintenance are handled by BK and once takeove successful Dubai Dry Docks amy pass over former  Pan United biz to BK too...price quite  steady 89-89.5cts