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JES not moving in line with shipyards/shipbuilders. It should be 22 cents now which is slightly above its 18.9 cents Net asset backing. No cancellation of its vessel building contracts upto now despite having a small order belonging to a financial crisis affected client. No harm done, I think worth investing as most related companies are spiking in their shares. JES worst scenario should be price at 40% of Yanzijiang's share price now ard 52 cents. I am buying too.
Sad man...loseee ground...
Steady man....JES can still hold ground...well done..
Naproxen, wow so fast...what price did you brought??? no wonder yesterday volume so high,,,,but Dow Jones lao sai yesterday nite as well...hope i can hop in at $0.22
I on board liao...
Got movement......must hop onto this ship asap.
Wow, seem that you are tracking my movement...hahaa...well...JES is now bottom low...therefore targeting it now...at most lost a few hundred bucks only...this company got quite some book orders on hand. Maybe vesting..cheers...
Bro, you jumped ship from Mercator to JES ??
s5504703 ( Date: 28-Aug-2008 17:42) Posted:
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JES is undervalued..52 weeks low... Can hold for mid-long term...although profit down but at least not in red. My personal fair value for this stock is between $0.25 -$0.28. My own opinion only not an induce to buy. It will depend on overall market sentimental. Buy to hold. :-)
JES order book as at 31 March 2008 stood at about US$1.13 billion.
Even though JES was not doing too well in the past few days.........do not be mistaken.It is the best time to to get even more......
Please read JES statement on investor concerns of market slowdown.........
JES have mentioned that there has been NO cancellations of orders or any delay in delivering completed vessels to its customers since FY2007. The Directors also stress that JES only recognises orders which are effective (upon receipt of an initial deposit of typically 20% of contract value) and does not recognise indicative orders for which no deposit has been given. As such, it believes that its orderbook is relatively resilient even in the face of concerns about the outlook of the global freight rates.In addition, JES’s customers would have secured financing before committing to the shipbuilding contract and as such JES is not exposed to the default risk of its customers as the bank is the counterparty to the transaction.
This stock has potential to rise......
Raw material costs
Raw material, comprising mainly steel plates, currently makes up between 22 - 33% of total
production costs. JES wishes to state that it sources its steel materials from domestic suppliers in China, and therefore obtains them at prices cheaper than the global average. JES also has the capability to stockpile approximately one year’s supply of steel at its yard. At current rates of utilisation, JES’s stockpile can last till November 2008. The Directors therefore believe that the rising cost of steel will have minimal impact on JES for FY2008.
The Directors wish to highlight that when negotiating new contracts, JES factors in historical high prices of steel to take into account the potential increase in steel prices going forward. This mechanism minimises the impact of rising steel prices when JES starts building the ships, even for vessels due for delivery in 2009 and 2010
http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_569F9CE440E4DB4A482574240034CD87/$file/JES.announcement.pdf?openelement
BT 23/Jun/08
Citing a recent survey by Lehman Brothers, JES chairman and chief executive Jin Xin notes that oil majors such as ExxonMobil, Royal Dutch Shell, BP, Chevron, Total and ConocoPhillips will spend a record US$70.7 billion this year on exploration and production.
'Riding on this sustained current growth coupled with a tight global supply of crude oil tankers, we are confident that demand for new tankers will continue to rise,' he said.
JES's current capacity is full till 2011 and with the new yard coming into operation, new building slots will open only in mid-2010.
With the group's current expansion, which will double its capacity and also enable it to take on larger-size jobs, JES intends to move more into the offshore market from 2010 onwards.
Mr Jin said the group has steadily followed its strategy of moving up to higher-value projects. As at March 31, JES's order book stood at about US$1.13 billion.
FS from 2004 to 2007
http://www.reuters.com/finance/stocks/incomeStatement?stmtType=INC&perType=ANN&symbol=JSIH.SI
The FA and TA for JES is good.
Besides, JES has secured nearly US$248 million worth of orders from Croatian shipping firm Atlantska Plovidba and Indonesian oil company Pertamina. This brings JES orders secured to date this year, to some US$408 million.
JES order book as at 31 March 2008 stood at about US$1.13 billion.
Definitely good buy!
Dow ended flat, but i think JES will rebound even better than yesterday. Very Bullish!
Due to market sentiment, otherwise could have moved up further. Cheers !
Though won contracts, the gain today is not spectacular. Not in BB radar?
JES said: "both repeat customers are ordering fresh vessels at a premium to their previous orders, reflecting the prevailing market conditions and the increase in prices of raw materials." News should boost sentiment as more than doubles value of contract wins year to date to US$407.5 million, contracts are sizable vs FY07 revenue of CNY1.5 billion (US$218 million). But wider market weakness after Wall Street tumble may limit upside.
News is confidence booster as sentiment weak recently due to worries over slowing new shipbuild orders, rising raw material costs. Fact that company has already received 18%-30% initial deposits for the contracts, has been able to charge higher prices to offset higher raw material costs also likely reassuring investors. ABN Amro is only broker to actively cover company, had Buy rating, $0.79 target in April note; analyst could not be reached for comment today.
JES International rose after it won two shipbuilding contracts worth US$247.5 million.
JES said that under the contracts it will build four bulk carriers for Croatia's Atlantska Plovidba worth US$180 million, and an oil tanker worth US$67.5 million for Indonesian state oil firm Pertamina.
hmm thot Q4 results were quite reasonable
JES is junk
Don't buy junk