COSCO SHP SG    Last:0.123   -

CoscoCorp

Cosco -3% to $1.97 after Sevan Marine revealed that it was hit by setbacks with 2 of its trademark cylindrical FPSO vessels, which might delay the award of 2 floaters worth US$525m each. Cosco signed a LOI with Sevan Drilling for 2 semi-submersibles in Mar this yr.

Sevan is facing rising cost of upgrading Sevan Voyageur, which has escalated from US$90m to US$135m while Sevan Piranema is plagued by commercial uptime due to continued problems with the vessel’s compressor systems & may require improvements costing US$25m. Both of these FPSOs were built at Yantai Raffles (hull) & Keppel Verolme (topside integration).

Adding to the bad financial tidings, Sevan incurred a US$48m loss in 1Q & has some liquidity issues with debts of US$900m & is looking to carry out a rights issue to stabilize its balance sheet. This follows the recent spin-off of Sevan Drilling at the low end of its targeted offer price due to lacklustre investor interest. Nevertheless, there is still a lot of exploration & drilling activity, which could support the rig business.

Separately, Xinhua news agency reports that audits have found irregularities in financial statements of 17 Chinese SOEs including CNOOC, Chalco, Cosco & China Unicom for FY09. By Mar this yr, 735 cases of irregularities have been corrected & 65 people responsible for the irregularities or violations have been punished.

 

Scare this is just a dead cat bounce..... US seem to be in correction mode now....

stocksburntme      ( Date: 23-May-2011 23:14) Posted: expect the unexpected tomorrow again~

 

Selling pressures from margin calls and contra dues may put more pressures on the price unless BBs intervene to support the price. Already many kena jialat jialat from the previous selldown, today's plunge kor gar jialat.

Gaecia      ( Date: 23-May-2011 23:03) Posted: watever you say sifu.  I didn't buy cosco so i am  not worried to say the least.  Not that you are because  you can still lol. Just that not many can take the expect the unexpected outcome as well as you.   Isolator      ( Date: 23-May-2011 22:47) Posted: Tmr STI most likely will be green  at most drop  around 10 point and then it  go green... I am not kidding you.... Cosco will be bargain buying... where shorties will also cover... no kidding you too..

 

expect the unexpected tomorrow again~

 

U guys watch too much Taiwan drama?

Zhen De, Wo Bu Pian Ni

Isolator      ( Date: 23-May-2011 22:47) Posted: Tmr STI most likely will be green  at most drop  around 10 point and then it  go green... I am not kidding you.... Cosco will be bargain buying... where shorties will also cover... no kidding you too... Gaecia      ( Date: 23-May-2011 22:26) Posted: Tmr's color of the day is red, not kidding you

 

This is not creating panic and  is real..... i will load some around at 1.79-1.81.... looking at the characteristic it seem to be lower high and may head to lower low...and i am afraid it will go below 1.79.... Yangzijiang already closed lower low le ... IndoArgi,Yanlord.... and noble i will see whether it can hold at 1.96.....

Better stay offline and wait patient to enter until i see clearer sign

Peg_li      ( Date: 23-May-2011 21:23) Posted: 1.79$, are u dreaming or creating panic? rotijai      ( Date: 23-May-2011 21:21) Posted: may be will try to buy near 1.79.. no target price to sell yet

 

watever you say sifu. 

I didn't buy cosco so i am  not worried to say the least.  Not that you are because  you can still lol. Just that not many can take the expect the unexpected outcome as well as you.

 

Isolator      ( Date: 23-May-2011 22:47) Posted: Tmr STI most likely will be green  at most drop  around 10 point and then it  go green... I am not kidding you.... Cosco will be bargain buying... where shorties will also cover... no kidding you too... Gaecia      ( Date: 23-May-2011 22:26) Posted: Tmr's color of the day is red, not kidding you

 

Hopefully that will be the case..........

 

Tmr STI most likely will be green  at most drop  around 10 point and then it  go green... I am not kidding you....

Cosco will be bargain buying... where shorties will also cover... no kidding you too...

Gaecia      ( Date: 23-May-2011 22:26) Posted: Tmr's color of the day is red, not kidding you. rotijai      ( Date: 23-May-2011 21:29) Posted: sry if i look like i am creating panic.. i might be dreaming but i rather miss it than taking the bet as i am just a small player.. but i believe tmr we might see a green day (for STI too).

 

no balls to cut. so i hold tight tight.

 

when i say that we need to acknowledge that price might drop, it is not that i do not have confidence in the stock. it is just that stock price do not go all the way up in a straight line. along its way back to the 2.30 region, it might just revisit the lows once again.......

anyway, you and i are different and we have different strategies..... so good luck   

Peg_li      ( Date: 23-May-2011 22:00) Posted: , if it keep dropping, I will keep buying. I never sold it so far even at peak price, today already loaded some, if tomorrow morning drop, will load more. keep strong confidence for this counter. it will sign contract soon and some new contract coming. eastcivic      ( Date: 23-May-2011 21:55) Posted: roti is not dreaming or creating panic... he is just stating a possibility. if you believe that cosco has a chance  go back to 2.30+ region( recent highest was 2.37 in april) then  you  cannot ignore the fact that there is also a  possibility of it going back down to 1.81(it hit this price in march).

 

Tmr's color of the day is red, not kidding you.

rotijai      ( Date: 23-May-2011 21:29) Posted: sry if i look like i am creating panic.. i might be dreaming but i rather miss it than taking the bet as i am just a small player.. but i believe tmr we might see a green day (for STI too).. Peg_li      ( Date: 23-May-2011 21:23) Posted: 1.79$, are u dreaming or creating panic

 

, if it keep dropping, I will keep buying.

I never sold it so far even at peak price, today already loaded some, if tomorrow morning drop, will load more.

keep strong confidence for this counter.

it will sign contract soon and some new contract coming.

eastcivic      ( Date: 23-May-2011 21:55) Posted: roti is not dreaming or creating panic... he is just stating a possibility. if you believe that cosco has a chance  go back to 2.30+ region( recent highest was 2.37 in april) then  you  cannot ignore the fact that there is also a  possibility of it going back down to 1.81(it hit this price in march). Peg_li      ( Date: 23-May-2011 21:23) Posted: 1.79$, are u dreaming or creating panic

 

roti is not dreaming or creating panic... he is just stating a possibility.

if you believe that cosco has a chance  go back to 2.30+ region( recent highest was 2.37 in april) then  you  cannot ignore the fact that there is also a  possibility of it going back down to 1.81(it hit this price in march).

Peg_li      ( Date: 23-May-2011 21:23) Posted: 1.79$, are u dreaming or creating panic? rotijai      ( Date: 23-May-2011 21:21) Posted: may be will try to buy near 1.79.. no target price to sell yet

 

You need to lookup stock charts and  recognise pattern formation. 1.89 is just 10 cents short  from 1.79 and almost a whopping 50cents from 2.38 peak pre xd.  It must have been incomprehensible to think that  Cosco could shed so much from the peak back then, but it happened.

Of course chart  interpretation is quite another.

Peg_li      ( Date: 23-May-2011 21:23) Posted: 1.79$, are u dreaming or creating panic? rotijai      ( Date: 23-May-2011 21:21) Posted: may be will try to buy near 1.79.. no target price to sell yet

 

jamesng, there's no need to advertise stx..

it's a good stock, i am sure it will go up :)

jamesng      ( Date: 23-May-2011 20:58) Posted: why not switch to stx osv? single digit PE and in a sector related to oil rig support......

 

sry if i look like i am creating panic..

i might be dreaming but i rather miss it than taking the bet as i am just a small player..

but i believe tmr we might see a green day (for STI too)..

Peg_li      ( Date: 23-May-2011 21:23) Posted: 1.79$, are u dreaming or creating panic? rotijai      ( Date: 23-May-2011 21:21) Posted: may be will try to buy near 1.79.. no target price to sell yet

 

1.79$, are u dreaming or creating panic?

rotijai      ( Date: 23-May-2011 21:21) Posted: may be will try to buy near 1.79.. no target price to sell yet   eplepl      ( Date: 23-May-2011 20:49) Posted: then what price to buy ? and target price to sell

 

may be will try to buy near 1.79.. no target price to sell yet

 

eplepl      ( Date: 23-May-2011 20:49) Posted: then what price to buy ? and target price to sell ? rotijai      ( Date: 23-May-2011 17:34) Posted: The Board of Directors of COSCO Corporation (Singapore) Limited (the “ “Audits find irregularities in financial statements of 17 Chinese SOEs” which states that some irregularities and disciplinary violations were found in the financial statements of certain Chinese state-owned enterprises (SOEs) according to audit reports released by the National Audit Office (NAO). The Board wishes to state that neither the Company nor any of its subsidiaries has been cited as having committed any irregularities and disciplinary violations in the NAO report. By Order of the Board Jiang Li Jun Vice-Chairman and President 23 May 2011   i think tmr might be a good day for cosco :)Company”) refers to the article in Thomson Reuters on 20 May 2011 entitled

 

yes, it looks like that many houses are manipulating this one.

be careful. don't be wiped off by them, hold tightly.

tiancai007      ( Date: 23-May-2011 19:36) Posted: I remembered back in Jan, some reports mentioned abt transfer of asset from parent coy. The next day its share shot up by 10c, then the board clarified and the share went down 10c. Could this be the work of some houses?