SPC   

SPC

I am waiting to go in too.

idesa168      ( Date: 23-Apr-2008 09:05) Posted: I managed to get 2 at 7.62...dun know it's lucky or not! Cheers!

 

hope the px can rebound back to 8 range soon...

 

I managed to get 2 at 7.62...dun know it's lucky or not! Cheers!

 

wow...once opened it's terrible!

 

the pre-open que does not signal a massive selldown...will wait and see in a few minutes time.

 

one thing I don't understand is at sky-high soaring oil prices, why is SPC still making lower profit? I should expect their margin to increase. If even these so-called "oil-related" companies cannot be a direct proxy to the oil prices, which instrument can I buy into to mirror the rising oil prices?

 

So the moral of the storry is ....... dump, for those who can make?..

 

Singapore Petroleum on Tue reported a 12% fall in quarterly profit due to higher exploration and production costs and warned that demand for refined products may soften this year as the economy weakens.

"However, global refining capacity remains constrained and refining margins are expected to be well supported," it said.

SPC earned $98.5 million in the 3 months to the end of Mar, compared with $112.1 million a year ago. First-quarter sales rose 41% to $2.71 billion but cost of sales rose faster, up 43.8% to $2.56 billion. Income taxes nearly quadrupled to $22.4 million.

Keppel Corp owns 45% of SPC, which equally shares ownership of a 285,000 barrels a day refinery in Singapore with U.S. oil major Chevron .

The refinery, Singapore Refining Company, is SPC's main asset and its oil products are sold at home and exported to China and Southeast Asia.

Asian complex refining profit margins during the Jan-Mar quarter averaged US$6.95 a barrel, compared with an average of US$7.73 in the previous quarter, according to Reuters calculations.

SPC also owns upstream exploration and production assets, with concessions off the shores of Australia, Cambodia, China, Indonesia and Vietnam.

In addition, the company holds interests in three natural gas transmission pipelines linking Singapore to fields in Indonesia and Malaysia.

Crude oil prices surged to an all-time record above US$117 a barrel on Mon and have more than quadrupled since '02, as supply struggles to keep up with booming demand especially in China and other emerging economies.

 

the super optimistic r the ones likely b left carrying the babies.

 

With Oil hitting super high day after day, Dow might end "super red". Cannot cheong for so many weeks..Bull trap is definitely coming and like what i mentioned before, its should be after all the counter's "XD" next week. Trade with care..especially for those "super optimistic". 

lookcc      ( Date: 22-Apr-2008 22:29) Posted: dun c  how dow can close super red...no economic data 4  2night 2 pull it 2 super red.

 

dun c  how dow can close super red...no economic data 4  2night 2 pull it 2 super red.

 

Business Times - Emerging Markets' Oil Use Set to Exceed US this year..

 

Despite a US economic slowdown, oil price is heading up. This is unlike in 2001 when a US recession resulted in oil price falling to US$19.84. 

 

Emerging markets for the first time will consume more crude oil than the US this year, according to the International Energy Agency (IEA). As far as the oil market is concerned, demand growth is going to be continued to be driven by China and the Middle East regardless of a US downturn.

 

Jeffrey Rubin, chief economist at CIBC World Markets, who has correctly forecasted higher oil prices since 2000 said, "Supply isn't growing and demand is growing robustly in the developing world. Oil will average US$120 for all of 2008 and reach US$150 by the end of the decade.

 

"Many emerging economies are relatively isolated from the impact of the US recssion", said Edward Morese, chief energy economist at Lehman Brothers.

 

 

 

I think will not correct until it hit 125. I am keen in KC too.

ViperG      ( Date: 22-Apr-2008 22:23) Posted: Depend on DJ tonight, if super red, it will be good time to short all the way and buy in for dividend. I am also waiting for oil price to correct super high price of $118, if dream happens, KepC and SPC will dive. idesa168      ( Date: 22-Apr-2008 21:37) Posted: I dun expect it to drop a lot bcos there is still a carrot dangling (divvy $400).

 

Depend on DJ tonight, if super red, it will be good time to short all the way and buy in for dividend. I am also waiting for oil price to correct super high price of $118, if dream happens, KepC and SPC will dive.

idesa168      ( Date: 22-Apr-2008 21:37) Posted: I dun expect it to drop a lot bcos there is still a carrot dangling (divvy $400).

 

vested at 8.13 !!!

Hopefully tomlo, this counter will cheong !! 

 

7.96 when open..the rebound up....again...close 8.05?

 

8.00 wud b nice.

 

I dun expect it to drop a lot bcos there is still a carrot dangling (divvy $400).

 

Who wants to guess tomorrow open at what price?

My guess: $7.98 (-13 cents)

 

short after divvy?...or rather short it down lower in order to enter low to enjoy  the divvy? hehe

idesa168      ( Date: 22-Apr-2008 21:15) Posted: lookcc, I have to agree with you tomorrow this burger will be shorted. I may join in the fun, see how. But dun be surprise SPC cheong instead of LS...lol! This counter had been crazy lately...lol! lookcc      ( Date: 22-Apr-2008 21:07) Posted: spc 2morrow good 4 shortists.