Swiber   

Swiber

swiber gettin whack today..

 

Becareful of China germs !

 

i gave up liao....

susan66      ( Date: 08-Mar-2010 23:15) Posted: No patience to wait anymore, give up!

 

No patience to wait anymore, give up!

 

wah so bad meh??? my once favourite counter... now only watch from sideline.... overall voulume still not big enough to trade....btw, u must have SHORTed her very big huh???

178investors      ( Date: 08-Mar-2010 22:56) Posted: For your money sake, this shitber thing is going to make one to lose alot of money soon if one still hold on to it, in my opinion. There are so many things negatives staring at us but do we care enough to think about it. Looks like we are seeing another possible death spiral here, a form of CB with no ending resets based on moving target market closing prices and not fixed conversion price.  Now, one begins to understand why that feloo has a collar option from his banker, nothing more than to protect his quaranteed minimum sum should shitber dives. Make sense now. What about shitbers last 3 years results. Nothing to show after using so much cash. Declining earnings per share and no-ending negative cashflows. Another dot-bomb in the making... high burn rate. Make sense now. With such burn rate, sooner or later, our shiber stocks will continue to be badly diluted. Make sense now? while the death spiral could finish us off. Don't take my word for it. Do your own due diligence (dyodd).

 

For your money sake, this shitber thing is going to make one to lose alot of money soon if one still hold on to it, in my opinion. There are so many things negatives staring at us but do we care enough to think about it.

Looks like we are seeing another possible death spiral here, a form of CB with no ending resets based on moving target market closing prices and not fixed conversion price.  Now, one begins to understand why that feloo has a collar option from his banker, nothing more than to protect his quaranteed minimum sum should shitber dives. Make sense now.

What about shitbers last 3 years results. Nothing to show after using so much cash. Declining earnings per share and no-ending negative cashflows. Another dot-bomb in the making... high burn rate. Make sense now. With such burn rate, sooner or later, our shiber stocks will continue to be badly diluted. Make sense now? while the death spiral could finish us off.

Don't take my word for it. Do your own due diligence (dyodd).

 

Means coming soon? Very slow today

ozone2002      ( Date: 08-Mar-2010 09:16) Posted: did u see the massive jump from 1.05 to 1.07..

 

ya lor, why huh?

ozone2002      ( Date: 08-Mar-2010 09:16) Posted: did u see the massive jump from 1.05 to 1.07..

 

did u see the massive jump from 1.05 to 1.07..

 

 

good good!..go swiber!

tradersgx      ( Date: 08-Mar-2010 08:55) Posted: COMMODITY FUTURES Oil     $81.85  bloomberg

 

COMMODITY FUTURES

Oil     $81.85 

bloomberg

 

Market looks at the future and not at the past

flyersummer      ( Date: 06-Mar-2010 18:42) Posted: FY09 results were below expectation, due to worse than expected gross margin for variation orders. Price catalysts – Expect year round offshore EPCIC contract wins from various regions in Asia. +38% to our target price of S$1.42. Maintain BUY. Swiber’s net profit was down 11% y-o-y to US$35m in FY09. The US$8m recurring net profit in FY09 was lower than our expectation of US$20m, after factoring in US$7m mark-to-market and one-off insurance write-off for Swiber’s convertible bond, and the US$33m gain from vessel disposals. The increase in Swiber’s offshore fleet and the postponement of possible profit recognition for a US$30m project were the key reasons for the slump in gross profit margin to only 0.2% in 4Q09, vs. a normalized 15-25%. Net gearing is lower y-o-y. Swiber’s net gearing has fallen to 0.86x by end FY09, vs. 1.01x at end FY08. Still, this was higher than the 0.75x as of end 3Q09, as Swiber took on more debt to finance the slower billings to customer. Management guides that this was due to timing issues on project progress and actual billings. Recommendation US$142m y-t-d order win in 2010. We estimate that Swiber would have won >US$788m worth of announced and unannounced contracts ( Expect strong profit recovery in FY10. We retain our recurring net profit estimate of US$64m for FY10, with spread-out contract wins from South Asia and Southeast Asia. There is upside potential to our estimated 12% operating profit margin for Swiber in FY10, should we see evidence of positive operating leverage by 2Q 2010. Our target price for Swiber stays at S$1.42. There is no change to our target price of S$1.42 for Swiber, using 10x diluted recurring FY10 PE. Maintain BUY on Swiber.

 

Dont worry swiber wont go below s$1.01 .may be wait another three years economy slow down that time u can buy swiber s$0.90 ok.

sweet crude goes down below 60bucks possible s$0.90 brother.

pharoah88      ( Date: 04-Mar-2010 10:58) Posted: S$0.905 iS Target fOr ENTRY ? FearValueGreed      ( Date: 04-Mar-2010 00:22) Posted: Already give up on this one , not the company but the marco picture not looking good.   Anyway there is a gap at 90.5, so no hurry sure close

 

• FY09 results were below expectation, due to worse than expected gross margin for variation orders.
• Price catalysts – Expect year round offshore EPCIC contract wins from various regions in Asia.
• +38% to our target price of S$1.42. Maintain BUY.

Swiber’s net profit was down 11% y-o-y to US$35m in FY09. The US$8m recurring net profit in FY09 was lower than our expectation of US$20m, after factoring in US$7m mark-to-market and one-off insurance write-off for
Swiber’s convertible bond, and the US$33m gain from vessel disposals. The increase in Swiber’s offshore fleet and the postponement of possible profit recognition for a US$30m project were the key reasons for the slump in gross profit margin to only 0.2% in 4Q09, vs. a normalized 15-25%.

Net gearing is lower y-o-y. Swiber’s net gearing has fallen to 0.86x by end FY09, vs. 1.01x at end FY08. Still, this was higher than the 0.75x as of end 3Q09, as Swiber took on more debt to finance the slower billings to
customer. Management guides that this was due to timing issues on project progress and actual billings.

Recommendation
US$142m y-t-d order win in 2010. We estimate that Swiber would have won >US$788m worth of announced and unannounced contracts (

Expect strong profit recovery in FY10. We retain our recurring net profit estimate of US$64m for FY10, with spread-out contract wins from South Asia and Southeast Asia. There is upside potential to our estimated 12%
operating profit margin for Swiber in FY10, should we see evidence of positive operating leverage by 2Q 2010.

Our target price for Swiber stays at S$1.42. There is no change to our target price of S$1.42 for Swiber, using 10x diluted recurring FY10 PE. Maintain BUY on Swiber.

 

ok..

risktaker      ( Date: 06-Mar-2010 15:04) Posted: I didnt buy or sell :) I just watch lol I wanted to short leh but 1 BB eat up 1000 lots then I remember Swiber has strong book order over 700 million .... lol I scared . Havent touch this baby yet. WLBO_BB      ( Date: 06-Mar-2010 14:57) Posted: i tot not long ago u want to short it below $1 ??

 

I didnt buy or sell :) I just watch lol I wanted to short leh but 1 BB eat up 1000 lots then I remember Swiber has strong book order over 700 million .... lol I scared . Havent touch this baby yet.

WLBO_BB      ( Date: 06-Mar-2010 14:57) Posted: i tot not long ago u want to short it below $1 ??? risktaker      ( Date: 06-Mar-2010 14:21) Posted: damn i might have miss the boat on this one.... should have buy swiber last week.

 

Good fundamentals? I would have thought, with so much supporters here. But given the question I asked which nobody seems to know or have any comments about, is it misguided impression? I would have thought a basic question like mine would have some answers at least. 

It seems everybody is telling everybody else it has "good fundamentals". But who's analysing?

dealer0168      ( Date: 06-Mar-2010 11:58) Posted: Swiber indeed don't give divi. But is a company with quite good FA . If u want oil counter relate that provide divi, go for Rotary, Keppel, sembmarine. Above few are good in FA. N they give good divi as well.

 

i tot not long ago u want to short it below $1 ???

risktaker      ( Date: 06-Mar-2010 14:21) Posted: damn i might have miss the boat on this one.... should have buy swiber last week.

 

damn i might have miss the boat on this one.... should have buy swiber last week.

 

Swiber indeed don't give divi. But is a company with quite good FA .

If u want oil counter relate that provide divi, go for Rotary, Keppel, sembmarine.

Above few are good in FA. N they give good divi as well.