SPC   

SPC

 

 

Singapore Petroleum Company (SPC) ? For the first time, SPC is entering the Indonesian retail market to sell gasoline, diesel and fuel oil. This will be done through PT Solar Premium Central, an Indonesian marketing joint venture, in which it has acquired a 60 per cent stake for $600,000. Second Bridge Pte Ltd, a Singapore company owned by Indonesian parties, holds the other significant interest in PT Solar, which has got the General Fuel Oil Trading Licence to market the fuels in Indonesia. Announcing its Indonesian retail foray yesterday, Chris Keong, SPC's senior vice-president (Marketing), said: 'The JV will build on and expand SPC's marketing presence in Indonesia, which up to now has been focused on the distribution and sales of SPC branded lubricants through licensed distributors.' The development means SPC will now join other foreign oil retailers there following Indonesia's opening of its domestic oil business to foreign companies in 2004, after revoking state oil firm Pertamina's monopoly. Shell and Malaysia's Petronas have opened petrol stations around Jakarta to sell gasoline, while others like BP supply oil products to Indonesian companies. SPC's PT Solar venture will operate more like the latter, as the JV does not have a petrol station chain in Indonesia. Earlier reports indicated that SPC could supply up to 10,000 tonnes of oil products monthly to Indonesia.

 

if you have been to indo or bali, solar petrol is one of the cheapest.

 

Singapore Petroleum Company Limited is pleased to announce that it has acquired a 60% interest in an Indonesian entity, PT Solar Premium Central for a total consideration of US$0.6 million through its whollyowned subsidiary company Singapore Petroleum Venture Private Limited. The acquisition of the interest is subject to Indonesian regulatory approval.

 

OK gd night. Need to prepare for the showdown tomorrow. Cheers!

 

idesa168, if there is an opprtunity to buy SPC at sub 5 you should buy 2 times the amount and if the price rise pass your current lot (provided it does) you are holding then sell it.  That being the case, you will hold only lots at sub 5 and your SPC will be a done deal thingy.

About the banks.  the current issue with CDOs and they annoucing minimal loss compared to the assets they have. Well to me its still a LOSS and will be reflected on the balance sheet at the end of the day.  How bad it is today we wont know until they get it audited and annouced at the end of the qtr, half yearly or fiscal year.  The banks need a few bullet holes in them else how else can we get ourselves invested in their stocks at a low price. :)

 

Yes kilroy, totally agree. Never never listen to the FM giving TP, etc. I always take cue from the mkt sentiment. The price exhaustion are all written on the chart supported by the volume, a tell tale sign.

 

Too much of TA that I have forgotten about FA recently. SPC is still a sound company. Why would I run road when I had already invested at a low of below $5? I think I will surrender myself tomorrow the kopi $$ and bury it, and sit tight on SPC. SPC is now trading at 7.8X PE which is a damn good investment. If I run now, I would have to find another stock to invest the $$. Looking ard the STI, I believe I will still come back to SPC which I found 2 years back. It's the only few stock in STI trading below 8X PE.

 

About OCBC, I think is another stock to look out for. I have dump in some $$ in that counter which I believe will be another SPC. PE at 11X which is the lowest among the 3 banks. No harm looking at it if you guys got some cash to spare. I am very conseravtive when on look out for stocks. I think it had potential of $15.00, here again depends on mkt sentiments again.

 

Buy SPC on dips (at $5.60) , and hold for the long haul. You will not regret it.

 

idesa168,

too much info clogs the brain to think straight.  TO ME, the chart presents the sentiment of the market so whatever info there is whether we know or we do not know, its already priced into it.  FA is useful to me as it helps me to decide if a company is worth investing (risk/reward).  I look at annual report unaudited or audited for these info.

E.g. I dont listen to analysts annoucing their TP but looked at the chart for price exhaustion for TP.  When I say TP in this forum, I look at the chart to tell me the resistance. Take Yongnam, they said its 0.62cts but price exhausted at about 0.56cts so if you have agreed with the chart and took profit close to 0.56cts after topside failure, you would not have waited in vain for 0.62cts which never come for the past months and ask what happened OR take a lower profit.

At the end of the day, profit matters and this is what the game is all about to me and nothing else.

Whatever the news supports or depresses the price action, Its GOOD to know to fulfill one's curiosity but NO NEED to know since I am using TA for my trade/investment.

I respect others who have their own system that works (making consistent profit) for them and I am not advocating that mine is THE way BUT it works for me .. so far.

 

kilroy, the chart may not be right all the time. I followed the chart and made kopi $$ a few round. This time the last one I am making the kopi $$ for my broker. The candle chart told me Southern Doji with hammer, a sign of reversal. But I lost this round. It all very much depends on the mkt sentiment....let's ask ourselves this question. The recent sell down due to USA prime mortgage woes. What has this got to do with SPC? We are not in property, neither in banking. But bcos the broad mkt sold down, SPC was not spared....SENTIMENT. Well, if tomorrow the sentiment is positive, I do strongly believe, the share price of SPC will be lifted. Also the sell down of SPC today at $5.60 attracted a lot of investors bottom fishing. I am sure tomorrow will be postive by a few notches. I hope to pay lesser kopi$$ to my broker...hehehe, but admitted defeated already.

 

wow, look like the gang is back. Let's party tomorrow! I have packed my luggage ready for the back door...heheheh!!!

 

Yes I think there is chance of a writedown in Q3 and I have already highlighted this last Friday.

However lower crude price does not mean lower margin.

 

I LOVE PANIC SELLING!

 

Fantastic!  Looking forward to invest and reap profit together again!

 

JKBK, an anal.yst once mentioned, SPC shareprice always tied to MARGINS MARGINS MARGINS. i just hope SPC dont have to writedown inventories like siao if Crude Oil drops too much.

 

I say the lower the oil price the better because they can help drive overall positive market sentiments. I would not be surprise, though not in the short term,  to see lower oil price actually help to drive SPC price higher. 

 

SPC shareholders, lets hope SPC freefalls along with Crude Oil so we can load up cheap!

Cheers to all loyal shareholders.

 

idesa168, dont worry, i will not enter until sub $5.

value investors seek value and do not care about fluctuations after that.

i have been vested after army ORD $5.55 and saw it climb to $6 and fall to $4.04 also never kanchiong.

VALUE INVESTING RULES!

 

Crude spot is now 72.04USD time to lower the pump price.  I am left with 1/4 petrol on my car. hehe.

 

This fibo retracement line I have drawn from the time it started to go up (9th MAY) to the high on 24th & 26th JUL (mind you its a double top) has a 23.6% retracement at 5.25SGD. Today's closing price almost touches the 50% retracement but I am quite convinced that with today's long bearish candlestick + 5 mil volume, there will still be room to extend southerly.  I know some may not like to hear, but this is whats on the chart. 

Since 7.05 is the a 52 weeks high, price at or below 5.25SGD will be a steal.

 

1402, SPC will not b the same again, from 6-7 dollars in 1 week. Think twice before you enter the mkt again. It's gonna be a choppy ride which will definitely affect your mood and of course your studies. I think the best investment is in yourself. Till you have your real income which is spare then you can consider getting in again. It's just an advise, to take or not, it's your choice.