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sojourner,
Thanks for the invite but will not be able to make it due to prior commitments.
Do have a useful and fruitful gathering.
As usual, I am always glad to contribute my opinions via posts on SJ.
I'll be late if I come. Sorry about it
Oops I have a full day course which ends at 4pm this Saturday.
Hi Livermore. 30th June 3pm. It's mentioned in ray's squeeze out thread. Venue to be confirmed, somewhere central. YNWA!
Hi Sojourner,
Oh I am not aware of such a gathering. Name the time and venue this Saturday yah.
Personally, I would prefer the 'meetings' to be all done in this forum itself...
This is because it appears that once study groups are formed, they tend to be rather
inactive in the forum thereafter... 
Some food for thought...
Alright, but it would be great to have the active forummers like yourself attend...
Actually I am no FA expert. Really....
Livermore, shplayer - care to join in next Sat's gathering? We can do with some FA expertise to balance the TA guy, Ray. :)
Think Chuan Hup should eventually reach 50c....
Mathieu,
Sorry, cannot forecast what the market will do nor can I advice whether the current price is too high/low.
But, at Fri closing of 42c, CH is trading at NAV and CH FY07 ends on 30 Jun 07.
Do make your own judgement call.
Hi,
Your think this share will cheong up again? higher than the closing price? or the price is too high now?
Report in the Star Newspaper - 22 Jun 2007
Scomi Marine to buy six vessels
KUALA LUMPUR: Scomi Marine Bhd will spend about RM650mil to acquire six deep-water anchor-handling tugs and supply boats (AHTS) and three offshore support vessels (OSVs) that will be delivered in stages until 2010.
Scomi Marine anticipates receiving four AHTS next year and the remaining two in 2009 and 2010.
Scomi group chief executive officer Shah Hakim Zain said 30% of the cost of the fleet expansion would be internally financed and the rest from bank borrowings.
The expenditure is in line with Scomi Marine?s strategy to re-profile its fleet through new buildings of higher specifications vessels in meeting oil and gas industry demands in its key markets in Malaysia, Australia, India and Indonesia.
?New vessels can potentially garner higher rates of up to an additional 25%,? Shah Hakim told reporters after Scomi Marine?s AGMyesterday.
Since OSVs contracts were usually short-period agreements of one to three years, the company expected service fee to increase every time each contract was renewed, he said.
Its re-profiling process also involves the disposal of 10 older vessels which have a value of RM100mil at current market prices.
?We do not have a specific timeline for the disposal as it depends on the contract each vessel is in now and the market price of the vessel.
?So far, we have let go of six OSVs from the third quarter of last year for a total value of RM30mil,? Shah Hakim said.
On its coal transport business, which contributed 60% of the company?s profit, Scomi Marine was positive on the outlook of the demand for its services.
?Tenaga Nasional Bhd is increasing its annual utilisation of coal from the current 10 million tonnes to 20 millions tonnes by 2010 and we will be bidding to provide our services.
?Also, the coal mines in Indonesia are beefing up production due to higher demand and surely, they will need vessels to transport the coal,? he said.
Presently, the 42.7% associate company of Scomi Group Bhd owns a total of 149 vessels. Scomi Marine?s net profit increased 229% to RM80.5mil for the year ended Dec 31, 2006.
From the looks of its fundamentals and financials, I too feel that it is a undervalued stock at the moment.
Btw, sori but whats BBs?
hi shplayer, good and useful information! Thanks.
Vested
shplayer, Scomi Marine is now at about RM1.2 plus, compared with RM1.05 some time ago
hi shplayer
thanks for your details, so it seems CH should goes up more. I am still holding all my CH shares. Good luck to all vested
tiandi,
CH's direct stake in CHO is 23.7%. CH has a 28.92% stake in SCOMI Marine which in turn has a 29.08% stake in CHO. Therefore, CH's direct and deemed interest in CHO is 32.11%.
From the latest financial of CH and CHO, 3Q 07 (31 Mar 07), NAV of CH was about S$0.42 and that of CHO S$0.25.
CHO closing today is S$0.79c........54.0 ct above NAV. From my calcs, this should add about 11.4 cts to the value of CH.
By the same token, CH's 32.69% associate company, PCI, should add another 0.6c to the value of CH.
Therefore the market prices of CHO and PCI has 12 c more to the value of CH......making its 'market NAV' at least 54 c .
Vested
Sporeguy, it is about 4.20pm,
you can view this is this website, just click Chuna Hup on Enter stock, then click Chuan Hup again, very nice and free from SJ.
What time did it start to shoot up in price today ?