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Who to trust ?
Brokerage house like DBS vickers is more neutral - KE report on other hand seem bias.............
My personal opinion nia :)
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Today?s Focus
Hi-P ? Uncertainty rising, downgrade to HOLD, TP cut
to S$0.65
Yangzijiang ? Secured massive orders worth
US$871m reiterate BUY, TP S$1.32
We see uncertainty rising for Hi-P. Customer demand is
falling short on weaker than expected reception to 5C
iPhones and rising stockpiles. We expect 3Q to be on
track but momentum is likely to fizzle out, thus
weakening the outlook for 4Q and even FY14.
Downgrade to HOLD, TP cut to S$0.65 (Prev S$ 0.97).
Yangzijiang has secured massive orders worth US$871m
of contracts comprising: i) New orders for four 208k dwt
bulk carriers (with options for two identical vessels) and ii)
Exercise of 13 options including five 82k dwt bulk carriers,
three 64k dwt bulk carriers and five 10k TEU
containerships (Seaspan). The 208k dwt bulk carrier orders
are the first capesize contracts for Yangzijiang, reinforcing
company?s strategy to move up the value chain to build
more sophisticated vessels. Prior to this, the largest bulk
carrier Yangzijiang undertook was 95k dwt panamax. The
contract prices seem in line with Clarkson?s average
newbuilding prices for respective vessels. We understand
the payment term varies but collection prior to delivery is
at least 30%.
These new orders have lifted Yangzijiang?s YTD wins from
US$1.22bn to US$2.10bn, outpaced our expectations of
US$2bn this year. We raise FY13 order win assumption to
US$2.5bn in anticipation of more options exercising in the
coming months. Yangzijiang has remaining 28 options
worth US$1.36bn consist of 11 containerships worth
US$0.85bn and 17 multi-purpose bulk carriers worth
US$0.51bn. Our FY13-15F forecast are largely intact as
the additional order wins are expected to contribute more
to FY16 earnings. These latest 17 orders are scheduled for
delivery in 2015-2016. Reiterate BUY with unchanged
target price of S$1.32.
shadow ( Date: 03-Oct-2013 09:27) Posted:
Kim Eng Issued Sell Report
Yangzijiang Shipbuilding - Wary of a False Dawn Cut to Sell ($1.135 - TP $0.98,
YZJSGD SP, Marine) |
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Yangzijiang with the exception of Maybank KE Research, the rest of the street continues to be bullish on the stock. Macquarie upgrades to Outperform from neutral with TP $1.45. Daiwa lifts TP to $1.12 from $0.85, upgrades to Hold from underperform.
Kim Eng Issued Sell Report
Yangzijiang Shipbuilding - Wary of a False Dawn Cut to Sell ($1.135 - TP $0.98,
YZJSGD SP, Marine)
What happen to Ms Yang today???
just sold half of my YZJ....
took some small profits + release some bullets...
i am still learning how to take profit at high
ascend88 ( Date: 02-Oct-2013 12:29) Posted:
U are a WB Jedi too :)
Wonderful feeling yah
muifan ( Date: 01-Oct-2013 10:56) Posted:
already bought somemore on the fall..
simply be greedy when others are fearfull....
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maybe becos US future red...
Why a sudden drop from 1.145 to 1.135 now? There was about 7K lots of married deals done from 1.13 to 1.145. History repeating again?
U are a WB Jedi too :)
Wonderful feeling yah
muifan ( Date: 01-Oct-2013 10:56) Posted:
already bought somemore on the fall..
simply be greedy when others are fearfull....
hello123 ( Date: 01-Oct-2013 10:31) Posted:
Hours after call , as predicted Yangzijiang rose on open to 118.5 only then to suffer a steep 9% fall to 1.075
for more details , see http://sgxswinger.blogspot.sg/ |
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Wise move
oldflyingfox ( Date: 02-Oct-2013 09:02) Posted:
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Re-enter at $1.13 this morning. Look like it's gap up and charging. |
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up 4 c....nice....
Up up and away
Re-enter at $1.13 this morning. Look like it's gap up and charging.
Did not see the publish Jan 2013, if based and Jan 2013 and 18months ago the Steel price in china is around 450USD per tonne and 620USD per tonne respectively.
cheongsl ( Date: 02-Oct-2013 07:21) Posted:
China Steel price 18months ago is around 590USD per tonne, currently only around 490USD per tonne.
Hawkeye ( Date: 02-Oct-2013 00:31) Posted:
YZJ discount 10,000TEUs
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China's Yangzijiang Shipbuilding has recently won additional four 10,000TEU containerships from Canadian shipowner Seaspan.
The newbuilding price, however is 10% lower from original contractual price, falling to $90m from $100m apiece over the last 18 months.
The four vessels are part of 18 options attached to a contract for seven 10,000TEU boxships between the Canadian owner and the Chinese yard signed back in June 2011.
A Yangzijiang official said the quartet are still profitable as the yard will have become more cost-effective after building the first seven same-type ships.
Published : January 29, 2013 |
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YZJ discount 10,000TEUs
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China's Yangzijiang Shipbuilding has recently won additional four 10,000TEU containerships from Canadian shipowner Seaspan.
The newbuilding price, however is 10% lower from original contractual price, falling to $90m from $100m apiece over the last 18 months.
The four vessels are part of 18 options attached to a contract for seven 10,000TEU boxships between the Canadian owner and the Chinese yard signed back in June 2011.
A Yangzijiang official said the quartet are still profitable as the yard will have become more cost-effective after building the first seven same-type ships.
Published : January 29, 2013 |
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frozentouch ( Date: 01-Oct-2013 23:47) Posted:
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I am hoping for 5.5 cents dividend, if the momentum of ship order wins continue at the current or improving margins. |
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I am hoping for 5.5 cents dividend, if the momentum of ship order wins continue at the current or improving margins.
Good news , ytd order is above usd 2B..excluding 4Q. The order on hand is not depleting..expect to see 5c dividend next year. Oldbird ( Date: 01-Oct-2013 19:05) Posted:
ascend88 ( Date: 01-Oct-2013 17:35) Posted:
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The Board of Directors (the " Board" ) of Yangzijiang Shipbuilding (Holdings) Ltd (the " Group" or the " Company" ) is pleased to announce that following the corporate updates regarding new shipbuilding orders on 4th September 2013, the Group has succeeded to secure new shipbuilding orders of four (4) 208,000DWT bulk carriers with options for two identical vessels. Furthermore, there are thirteen (13) options consisting of five (5) 82,000DWT bulk carriers, three (3) 64,000DWT bulk carriers and five (5) 10,000TEU containerships converted into effective orders in September 2013. The total contract value of the above-mentioned seventeen (17) new effective orders (the " Contracts" ) is approximately US$871 million. |
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ascend88 ( Date: 01-Oct-2013 17:35) Posted:
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The Board of Directors (the " Board" ) of Yangzijiang Shipbuilding (Holdings) Ltd (the " Group" or the " Company" ) is pleased to announce that following the corporate updates regarding new shipbuilding orders on 4th September 2013, the Group has succeeded to secure new shipbuilding orders of four (4) 208,000DWT bulk carriers with options for two identical vessels. Furthermore, there are thirteen (13) options consisting of five (5) 82,000DWT bulk carriers, three (3) 64,000DWT bulk carriers and five (5) 10,000TEU containerships converted into effective orders in September 2013. The total contract value of the above-mentioned seventeen (17) new effective orders (the " Contracts" ) is approximately US$871 million. |
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Lets see whether got any announcement he bought shares in the open market. muifan ( Date: 01-Oct-2013 18:49) Posted:
he could have sold his shares....
then use the money buy back from open market already...
he caused some panic i think yesterday drop way below his sold price..
this is the little reason i can think of LOL
oldflyingfox ( Date: 01-Oct-2013 17:25) Posted:
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Just wonder why that director sold it before this good news. |
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he could have sold his shares....
then use the money buy back from open market already...
he caused some panic i think yesterday drop way below his sold price..
this is the little reason i can think of LOL oldflyingfox ( Date: 01-Oct-2013 17:25) Posted:
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Just wonder why that director sold it before this good news. |
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