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SPC share is cheaper than this stock but ASL Marine is still one of the undervalued oil related stocks...
Looks bullish to me!
Should have more upside!
Looking damn beautiful...including its coming results! :-))
singaporegal, how u read this baby after today..?
I suspect it is moving ahead of its results to be announced soon.
ASL Marine business prospect looks promising for 2007.
Hope this translate into good P & L for the company.
Price should goes upwards.............
ASL Marine bull. Hope this time it is sustainable:)
Looks to be on slow downtrend.
ASL Marine seems like hovering around the 90c mark. Sometimes I employ a method to "corner the share price". Let' say at 91c, you buy 5 lots, if it goes down don't buy till it drops by 5-10c to say maybe 81c or 86c, then buy another 5 lots. After while the share price is "cornered". If you have 50 lots to buy you still have so much ammunition" to play around with it. This method does not work if it is a declining stock but it could work on ASL Marine. It seems very unlikely it will drop below 80c as it already has a strong order book, but you never know......
So stagger your buys.....
Watch this stock carefully. Of all oil related stocks, I am keeping a close eye on this one
Another money making machine!!
Done up to $0.96 this morning. Currently $0.95. Broke the previous high. Load up some more. $1.00 target is within reach over the next few days. Cheers to those who are vested.
That is good news!!
ASL Marine has just announced that they have secured new shipbuilding contracts worth a total of $51.4 million. Positive for its share price.
Closed $0.925 today. Expect more action and upward movement tomorrow.
Batam Yard moving up the value chain ASL's Batam yard is looking busy with almost 100% of its 30ha land being utilised. It has procured another 10ha of land that's located nearby to build barges - this is expected to be operational soon. Its priced asset - the 150k DWT dry dock is being kept busy with jobs. This will position ASL to cater to mid-size vessels and more sophisticated conversion jobs. It was servicing a Frontline Aframax tanker, with another Pertamina tanker waiting to be docked. KE expects this to significantly improve ASL's average job value per vessel, benefits will accrue from FY07 onwards.
The new dock could contribute turnover of about $2m per month. It is also adding another S$220m finger pier to enhance its berthing capacity to be ready by year-end. KE observes that ASL's Batam yard's configuration could be improved, especially with the addition of its 150k DWT dry dock and the finger pier, which will enhance revenue streams and significantly improve productivity going forward.
As mentioned earlier, KE believes the stock's depressed multiples result from the albatross that is ASL Energy. Trading at 8x FY07 PE and 7x FY08 PE, ASL probably rates as one of the lowest valued O&G stocks. Its target price of $1.25 or 11.7x FY07 PE is based on a blended PE multiple, which suggests significant upside from current levels. Increasing market coverage could result in a stock re-rating.
Absolute, it will hit 1.28 shortly
This counter has generated bullish signal. Worth looking at it.
After surging up to $0.945 recently, the price of ASL Marine has been consolidating within a triangle and this viewed together with the few upward surging candle sticks prior to that have formed the shape of a triangular flag. With the closing price at $0.905 , the counter has now breakout of this triangular flag formation with high volume. It should clear $1.00 as an immediate target.
Just for reference and sharing. Welcome to join me if you agree with my observation.
The prospects of the shipbuilding business remain positive given the newbuild demand stemming from increasing oil & gas exploration and production activities, renewal of ageing offshore support vessels, the International Maritime Organization's regulation to phase out all single hull tankers by 2010/2015, as well as supporting the transport of materials and equipment demanded by the mega-infrastructure projects in the Middle East.
ASL completed its 150,000dwt drydock in Batam, Indonesia in Aug 06. This could generate an additional revenue of $2m a month or $24m a year (FY06 shiprepair turnover: $23m). Given that most shipyards in the region are full to the brim with a heavy orderbook, ASL's new capacity is timely to capture jobs which cannot be met by other shipyards.
UOBKH has raised its target price raised to $1.10 or 11.5x FY07 earnings. ASL still trades at discount to other marine stocks such as Ezra Holdings, Jaya Holdings and Labroy Marine. Its prospective PE of 8.5x for FY07 is lower than the average PE of 13.4x (year-end 30 June) for Ezra, Jaya and Labroy Marine. Price/book of 1.9x is also the lowest.