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Dripping down slowly. 
lowchia ( Date: 17-Sep-2012 21:23) Posted:
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On Monday, ST Eng re-test the critical resistance at $3.47 and closed at $3.48 with LOW volume of 1.11 million shares traded.
Both RSI & MACD are bullish though RSI in overbought region.
Important Resistance of ST Eng: 4 years high
Immediate Support of ST Eng: $3.47
Currently prices are well above 20/50/100/200 days MA.
Today, ST Eng ............. READ MORE
Healthy earnings momentum
• 2Q12 net profit of S$143m (up 10% y-o-y) slightly
ahead of our estimates margin improvements across
all segments
• Orderbook at record level of S$12.7bn underpins
earnings visibility, going forward
• Maintain BUY with higher TP of S$3.60
Highlights
Another strong quarter. 2Q12 net profit of S$143m was
slightly above our expectations of S$138m, even after
adjusting for S$12.8m gains on the sale of investment
property, which was largely offset by S$10m allowance for
doubtful debts. Revenue was up 10% y-o-y and 7% q-o-q to
S$1.57bn, driven largely by the Land Systems and Marine
sectors. 1H12’s net profit of S$277.5m makes up 50% of our
existing full-year estimates for FY12, which is ahead of usual
seasonality.
Margin improvement across all sectors. Overall PBT margin
improved sequentially to 12% in 2Q12 from 10.5% in 1Q12.
Aerospace core PBT margin was strong at 15%, compared to
13% in 1Q12 and 13.5% in 2Q11, owing to a favourable sales
mix (higher heavy maintenance sales). Shipbuilding margins in
the Marine segment also improved, despite an unfavourable
fair value change of embedded forex derivatives in the
S$880m Oman navy contract, which is denominated in Euros.
Our View
Record orderbook provides healthy earnings visibility. STE
won close to an estimated S$2bn worth of new orders in 2Q12,
as its orderbook expanded to record level of S$12.7bn at end-
2Q12 from S$12.2bn at end-1Q12. About S$2.5bn of its
orderbook will be recognised in 2H12.
Recommendation
Maintain BUY. Despite some acquisitions-related hiccups in the
recent past, STE’s growth trajectory seems to be on track, driven
by healthy order-win momentum and improvement in margins.
We revise upwards our FY12/13F earnings estimates marginally
by about 1-1.2% to account for the above. Operating cash flows
in 1H12 remained strong, driven by higher customer deposits, in
line with healthy order wins. Interim dividend of 3Scts was
declared, at par with 1H11 levels. Given visible earnings growth,
strong balance sheet and healthy dividend yield of 5%, we
maintain our BUY call. Our TP, which is based on the blended
valuation methodology, is revised upwards to S$3.60 as our PE
multiple is revised upwards to 18x to reflect mid-cycle valuations
after Ho Jinx left ST as their ceo, St has been doing very well. now she is in temasick and temasick is crap. she really a jinx or nemesis of singapore
bishan22 ( Date: 14-Aug-2012 19:48) Posted:
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NEWS: ST Engg Q1 profit up 10%, declares 3cts/shr dividend
August 14, 2012
ST Engg Q1 profit up 10%, declares 3cts/shr dividend
Unloaded at 3.31. Waiting for dip price to get in. agreed a good dividend cash cow for yearly milking.
ozone2002 ( Date: 06-Aug-2012 11:14) Posted:
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looking to buy on dip.. :).. dividend cash cow..
singtel n starhub all rallied like crazy..
bishan22 ( Date: 06-Aug-2012 10:07) Posted:
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just to share,
18 Jun announced acquisition of PEMCO ~ price chiong from 2.97 from trough
6 Aug announced not buying of PEMCO ~ price drop slightly, let see how far will it drops.
Forming a rounding top. Be cautioned. Price is dropping.
ozone2002 ( Date: 06-Aug-2012 09:41) Posted:
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halted!
the super blue chip just keeps getting better!
ST Aerospace, the aerospace arm of ST Engineering, has
bagged a new contract worth US$80m for the repair and
maintenance of Malaysian low-cost airline AirAsia's
aircraft components. The deal is for 10 years and covers
75 Airbus 320 (A320) aircraft. Currently, ST Aerospace is
already servicing 100 of AirAsia's A320 planes. With the
latest contract, it will support 175 A320 aircraft.
another reason why this is super blue chip.. word of caution PE kinda high..
UOB Kay Hian raised its target price for Singapore Technologies Engineering to S$3.78 from S$3.34 and kept its 'buy' rating, citing continued order wins.
By 0425 GMT, ST Engineering shares were 1.8 percent lower at S$3.21 and have gained 19.3 percent since the start of the year, compared to the Straits Times Index's 12.5 percent rise.
In the second quarter, ST Engineering secured S$1.5 billion worth of new contracts, 100 percent higher than the previous quarter, suggesting its order book in April-June will likely surpass S$12.3 billion, which was achieved at end-2011.
Despite this, ST Engineering is trading at 0.81 times its orderbook, a discount to its 5-year average of 0.88 times, said UOB.
super blue chip
ST Aerospace secures $370m worth of contracts in 2Q2012
ST Engineering's aerospace arm, ST Aerospace, secured $370 million worth of contracts in the second quarter of 2012, the company said on Monday.
The contracts for aircraft maintenance and modification, component total support, and engine total support businesses will be carried out at its global maintenance, repair and overhaul network.
Between April and June, ST Aerospace redelivered 157 aircraft for airframe maintenance and modification work. It also serviced 8,136 components and 78 engines for both commercial and military customers.
Additionally, ST Aerospace also finalised the agreement with Airbus, EADS and EADS EFW on the A330 passenger-to-freighter conversion programme.
from The Edge magazine reflecting the fundamentals of ST ENG
Meanwhile, Lim also has buy calls on ST Engineering -- whose order book of $12 billion should underpin steady earnings and allow the company to maintain a dividend yield of 5%