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Should be moving anytime soon, CH Marine very active today
Nice chart shown.
Opening up with RSI @ 59%, MFI (money flow index) had hit 80%.
Chuan Hup Holdings Limited (?CHH?) was founded in 1970 as a tug and barge service provider for the PSA Corporation in Singapore. CHH subsequently developed a core competency in the provision of marine transportation services to the mining and energy sectors within the ASEAN region. In doing so, CHH established itself as one of the leading owners and operators of marine transport equipment to the resource industries. In addition, CHH also has investments in the property and electronics manufacturing services sectors.
In the Financial Year ended 30 June 2003, CHH reorganized its marine business into two separate and distinct operations according to industry focus, namely, the offshore support services to the oil and gas industry (held under its then subsidiary CH Offshore Ltd) and marine logistics services and transportation of bulk aggregates.
On 14 February 2005, CHH entered into an agreement with Habib Corporation Berhad, pursuant to which Habib Corporation Berhad would acquire from CHH the entire marine logistics business, 29.1% (out of the 52.8% held by CHH) of the issued shares of CH Offshore Ltd and 49.1% of the issued shares of PT Rig Tenders Indonesia held by CHH.
On 30 September 2005, CHH completed the above transaction with Habib Corporation Berhad (now known as Scomi Marine Berhad) for SGD $485,621,190 and a 28.9% stake in Scomi Marine Berhad.
CHH continues to operate as an investment holding company with investments in the following sectors:
1) Marine
3) Property
Fair value - Be patient. This is a no horse run stock.
the big Q here is what is the core bz now ?
cash rich + undervalued.
what is the fair $ ?????
any $$$ experts, pls.......
Shplayer,
Thanks for your correction.
Green8,
According to the latest disclosure, the Peh family owns 43.0%0 (468,659,490 shares).
Every 1c price movement is about $469K to them
Yes, I believe they recognise that the stock was grossly undervalued when they made a GO in March.
I still believe it is undervalued.
Bear in mind, its FY end is 30 Jun 07....so we can expect FY07 results in Aug. Last yes, FY06 was released on 17 Aug. Think this year will be around the same time.
Mr Peh & Co hold about 45 % of the company total shares, right? It is their interest to see Chuan Hup share up and up. Every 1 cent up how much they can earn ? Don't believe you try to sell down to 30 cents now and see what is their reaction. So the morale of the story is.......
Green8,
What do you mean by 45%? 45 lots?
If 45 lots,, every 1c price change is $450.
May be testing its recent high of 44.0 c today.
Watch out for it.
This morning's Channel 8 stock talk segment, the guest speaker from one of the securities firm commented that this counter still got potential to go up further (in response to a callers' enquiry on the prospect on this counter). Cheers to all those vested.