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141-160 of 737
i think freeme running a streak of bad luck lately. whatever he buy go down haha. i think his renewable 100 lots gg already
You are richer lol.
xin ren crap fall so fast n quick.. 35% discount to ipo price nw.. heng only play abit for this..
sky holding at 16cts well...
taisan fell to 18cts.. i will be loading up one more time when its 17cts if happens.
today got many lobang to pick.. just get some renewable at 20cts. too many choice until duno which to pick..
freeme ( Date: 18-Nov-2010 18:02) Posted:
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update on current holdings:
China sky @ new avg 0.152 - nw 0.165 > still 400% discount to NAV.. where to find such a gem.. earning U turn. PE is okie at abt 10.. With their capacity, EPS should improve further going forward.
Courage ma @ 0.195 nw 0.190 > good reporting, but not moving.. ;(
China Env @ 0.255 - nw 0.22 > nothing interesting now.. just hold
China Taisan new avg @ 0.1925 - nw 0.195 > add to total holding 100lots today
Xin Ren @ 0.44 - nw 0.43 > short term trading
Watch list:
mermaid, marco polo, chinaNtown
UOBKH Stock Picks
Stocks we favour include:
a) OCBC – Strong regional footprint and excellent asset quality. Rising
margins in Malaysia.
b) StarHub – Limited impact on pay-TV subscribers from loss of BPL.
Attractive dividend yield.
c) M1 – Strong beneficiary of new generation network. Including special
dividends, we forecast 2010F yield of 15%.
d) CDREIT –Catalyst from rising room rates, occupancy and potential M&A.
CDREIT is one of the best proxies on rising tourist arrivals.
e) Ezra – New specialised vessels will underpin its status as an offshore
contractor. Its asset quality is one of the best in the region.
f) K-REIT – Strong beneficiary of an upturn in Singapore office property.
Good pipeline of potential high-quality asset injections.
g) Swiber – Early-cycle regional proxy to an increase in shallow-water
exploration and production spending from 2011.
h) ART – Diversified exposure to hospitality industry with a significant
amount of portfolio in emerging market. Target price of S$1.40.
Make Love More, Don't Make More Enemies
Strategy – Singapore
3Q10 results wrap-up
3Q10 results were in line with our expectation. Banks posted solid earnings,
particularly OCBC. Wilmar disappointed. Telcos were mixed, with StarHub
pleasantly exceeding our estimates. Buy OCBC, StarHub, Ezra, K-REIT and
CDREIT.
What’s New
• 3Q10 results review. All the companies under our coverage have
released their 3QCY10 results. This report summarises the key
highlights, earnings revision and notable results.
Action
• In line, with slight skew to positive. Within our stock universe, 63% of
results were in line with expectations, 18% were below and 20% were
above our expectations. Interestingly, companies that surprised on the
upside continued to trend higher, with 20% beating our estimates in 3Q10
compared with 18% in 2Q10 and only 15% in 1Q10.
• Solid banking results, particularly OCBC. Both OCBC and DBS
reported solid results. OCBC continued to gain market share in
Singapore at the expense of the weaker foreign banks. OCBC’s NPL of
1.1% was the lowest among Singapore banks. We view DBS’ 3Q10
results as a solid set with good cost control despite the implementation of
initiatives related to its nine strategic priorities. Nevertheless, macro
headwinds such as depressed SIBOR and a weaker HK$/S$ could
dampen its near-term share price performance. Maintain BUY on OCBC
(top pick) and DBS.
• Wilmar – a dent to its track record. Wilmar’s 3Q10 net profit was
substantially below our and market estimates. The surprise came from its
oilseeds and grains division, which posted a US$37m loss due to a wrong
hedging position for soybean crushing. As a result, we have slashed our
FY10-12F net profit forecasts by 10-21% to factor in the losses as well as
lower consumer pack margins. We trimmed our target price by 3% to
S$7.10 but maintain our BUY call.
• Mixed bag from telecommunications. SingTel’s 3QFY10 disappointed
with a steep fall in Singapore’s EBITDA margin. Its regional mobile
associates (Telkomsel and Bharti) also faced headwinds from competitive
pressure as well as losses from Bharti Africa. Conversely, StarHub’s
3Q10 results exceeded our expectation on a 6.4ppt rise in EBITDA
margin to 32.3%. The impact from the loss of Barclays Premier League
(BPL) was limited as StarHub only lost 4,000 pay-TV subscribers.
StarHub is on our BUY list for its 7% FY11F dividend yield. We have a
SELL on SingTel.
• Property – no surprises. Heavyweights CapitaLand and City
Developments (CDL) released in-line 3Q10 results. CDL has been
progressively unlocking value from its non-core assets and net gearing is
estimated at close to 0.3x. As for CapitaLand, we see better value from
its listed entities, such as Ascott Residences Trust (ART). We see
tightening policy measures in China as well as a potential hike in interest
rates as overhang on CapitaLand’s China operations. Maintain SELL on
CapitaLand with fair price of S$3.70.
• FSSTI target implies 11% upside. Based on a long-term PE mean of
16.9x would imply a 2011F target of 3,615 for FSSTI. As a cross-check,
our bottom-up compilation of stocks under our coverage suggests a
target of 3,489 for the FSSTI. Our top picks include OCBC, StarHub, M1,
K-REIT, A-REIT, Swiber, Ezra, ART and CDREIT.
Source: UOB KayHian
Make Love More, Don't Make More Enemies
add up taisan @ 19cts to total 100lots now..
china sky up hit 16.5cts.. good.. still more 400% discount to NAV.
in outon hsi warrants again.. another 190 gain..
ChinaNtown got dump quite hard.. but when they hit below 13cts.. i maybe interested..
Yup! I'm not in a hurry to go in... either Dow linger ard 11k region (50EMA) or it goes all the way to 10600 (200EMA)... for CT it's not overbought like Dow or STI... I'll either buy more at 18 or 16 =) if it does get there...
freeme ( Date: 17-Nov-2010 21:28) Posted:
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Looks like we can get cheaper liao.. delay buying until next week.. seems mkt react quite badly now.. good counter might not be spare too.. we for sti n hsi index hit support level den go in together..
| Dow | -189.00 / -1.69% |
| Level | 10,984.00 |
pehtrick ( Date: 17-Nov-2010 10:00) Posted:
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100% agree! with dow dropping like shit... this one is still hanging there... so just buy it cheap and wait for ride!
freeme ( Date: 16-Nov-2010 23:27) Posted:
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china taisan action with share buy back liao.. seems like a good time to add more to it.. director n sharebuy back at 20cts.. n today drop to 19.5cts.. even cheaper.. time to act on thur when market open.. drop more even better..
China kimsua finally move liao..... yes ! Jinshan !!
china env maybe due to so so result.. nv just let it fall further.. i will support them again when if hit 20cts
des_khor ( Date: 16-Nov-2010 15:43) Posted:
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China Envir ??? what happen ???
HSI24800MBLeCW101230 in at 0.165 out at 0.17 in again at 0.165 out again 0.17..
380 bucks gain to cover current loses on xin ren..
bot some xin ren @ 44cts.. for short term
china sky off their low to hit 15.5cts.. fr nw.. every 1cts gain can earn 2.6k
Next to focus is china taisan.. will add up to about 100lots by this wk.
Some updates fr my long term portfolio:
Renewable off their low too.. continue to hold
China paper still very cheap.. continue to hold
Spice i2i will add more exposure soon..
china sky post a pc of gd q3 results.. only thing i dun like is negative operating cash flow..
Quick P/E comparison:
China taisan - abt 5.7
China gaoxian - abt 6.5
China sky - abt 10
Li heng - abt 9.5
China taisan still consider the most cheap in the industry. Gaoxian is also cheap even after a large rally with korea dual listing insight.
China sky considering their business just U turn since 2q.. so earning wise still need some catching up.. of all china sky nav value is the highest, follow by li heng..
If you believe gaoxian will move even higher, then im sure taisan will be the same too.. at least to 24cts..
vested heavily on china sky and abit on taisan..
alright seems like my analysis is double/triple confirmed for chinataisan =)
freeme ( Date: 12-Nov-2010 23:10) Posted:
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