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THIS COUNTER IS KANCHONG
Top up at the right timing! Good luck
PETALING JAYA: Singapore-listed Nam Cheong Ltd, Malaysia’s largest offshore support vessel (OSV) shipbuilder, has won two contracts for the sale of two accommodation work barges (AWBs) worth a total of US$59mil to Perdana Petroleum Bhd.
It said in a statement that these contracts raised Nam Cheong’s year-to-date order book to a high of RM1.06bil in contract value, surpassing last year’s figure of RM757mil.
Sales of the two AWBs also represent the group’s second collective win in quick succession, amounting to five vessels sold in less than two weeks.
Nam Cheong executive director Leong Seng Keat said: “Our winning season is reflective of the robust offshore marine industry in Malaysia spurred on primarily by Petronas’ (Petroliam Nasional Bhd) expanded capital expenditure in exploration and production.
“Petronas has budgeted RM300bil for 2011 to 2015. With the boom in the oil and gas industry, more of our Petronas-licensed customers are benefiting from higher utilisation of their marine vessels.”
Nam Cheong wins contracts from Malaysia’s Perdana
Petroleum Berhad for the sale of 2 Accommodation Work
Barges (AWBs) worth a total of USD59mil. This contract
follows close on the heels of vessel sale contracts worth
USD43.8mil announced less than two weeks ago and is in line
with expectations of a seasonally-stronger contracting season
expected in 2H. Nam Cheong's order book has expanded to
RM1.06bil, consisting of 17 vessels, implying a book-to-bill
ratio of 1.4x. There is no change to our earnings estimates. We
look forward to stronger earnings in 2H12, as more vessels are
sold and completed during this period. Maintain BUY with TP
of S$0.24 for close to 30% projected earnings CAGR over
FY11-13.
Did anyone go into nam cheong again!
Fresh from the oven:
NAM CHEONG SECURED SALE CONTRACTS FOR TWO ACCOMMODATION WORK BARGES WITH TOTAL WORTH OF USD59 MILLION (EQUIVALENT TO APPROXIMATELY SGD73.6 MILLION BASED ON THE EXCHANGE RATE OF USD1 = SGD1.2474 AS QUOTED ON BLOOMBERG L.P. ON 3 SEPTEMBER 2012)
Of cos pple will not buy for no reason la tcss...pple short thinking it will selldown, pple buy thinking it will go up lor...i also bullish on this counter...but i wont enter and chase buys in bear rally...u can buy more tmr...
| saacsgx Member | Posted: 29-Aug-2012 20:27 |
 x 0  x 0 | People are buying in at 0.20 with about 10 mio shares transacted. The support is there. They will not buy for no reason! Only about 2000 shares transacted from 0.199 to 0.197 probably by force seller (T+3) in the last half an hour. I am still bullish about this shares. However, if the US and Euro Market is not that good, it will come down. Just my view! I think I read somewhere that DMG target price is 0.29? |
People are buying in at 0.20 with about 10 mio shares transacted. The support is there. They will not buy for no reason! Only about 2000 shares transacted from 0.199 to 0.197 probably by force seller (T+3) in the last half an hour. I am still bullish about this shares. However, if the US and Euro Market is not that good, it will come down. Just my view!
I think I read somewhere that DMG target price is 0.29?
dats y i stated i wont enter...its a bear rally...its ok if it fly and nvr return cos once ev/thing down n out...with $ u can handpick gd values...
| x1uhu1 Member | Posted: 29-Aug-2012 17:09 |
| x 0 x 0 | down to 0.197 |
enjoy the ride :)
gd luck dyodd
ozone2002 ( Date: 21-Jun-2012 09:48) Posted:
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been advocating this stock since Jun..
finally it's above 20c.. & top volume..
DBS also aggressively promoting this stock..
gd fundamentals.. gd margins..
gd luck dyodd..
ozone2002 ( Date: 22-Jun-2012 09:37) Posted:
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