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3481-3500 of 6935
unloaded 5 lots @$6.90 from yesterday's holding, made some kopi $$. Feels that it is coming down in short term. Will pick up again if reaches $6.60.
yes sir ree.. very much alive... (see the Fellowship thread).. okey.. no Sir, how about than 168 ikan bilis or anchovies ha ha
I completely agree with you and eagles.... looks like I just sit pretty and wait till August to collect the divvy.. and if SPC down I collect somemore....
CKS...nice to hear from you again. Still alive and kicking! I no SIR, I ikan bilis!
Eagles... petrol price in SPC just up 5¢ last night, you know! Invest in SPC means being SPC "boss", why earn your from your own money. Should go green, go hybrid, you save on petrol, friendly to environment, and most importantly earn others money...hehehe!!!...now on SPC chart. The morning surge in price was due to euphoria of divvy, that this is the first time SPC declare interim divvy. Plus DJ up slightly and oil price back to high again. Once all these died down, we should see SPC on a gradual "land slide". Those in for short term can consider exit now. I am staying put. If SPC closes today at 6.90 and/or below, not a good sign. I had just taken a new position yesterday, thinking of liquidating them. Let's see how the mkt perform. I used to make last minute decision...now back to work! Cheers to all...may all make big $$ here. Luckily and surprisingly OSIM up this morning, I run liao. Company loose $$, how to expect investor make $$. SPC is different, we all make $$ together.
SPC cheap at 10X PE, 2X PB, in attractive oil biz, exploration, refinery, retail and industrial .
SPC supported by: Keppel Corp linkage, Government backings (global oil if really running out u can bet govt will go full scale exploration thru this fellow), not to mention M&A with CAO potentials (idea was previously floated)....
Buy now at $6.9 and keep, if stock market crash due to oil crisis - this one will survive.
(BTW after buying SPC, switch my petrol from Esso to SPC...)
i agree with you Sir Idesa168... looks like a very firm 7.00
Sell on news....
Should reach $7.00 today.
That's indeed good news, plus this time round it give a interim divi of 20cent .. .. I thought it give divi yearly ..so there will still be a final dividends payout. ..It is going to reach $8.00 by 4th quater ..
so, what then would be the closing price today for SPC?? lets guess..
Aiya, hand itchy lah. Go and buy OSIM last week thinking it has dropped quite a bit liao. I hope I dun die in the massage chair when the mkt opens tomorrow. Just hope SPC do well tomorrow as I had loaded some today. Should have stayed focussed just on SPC as I mentioned previously.
On SPC, EPS have amassed 56 cents on 1H07. We are just 24 cents away from 80 cents. I think we should do better than that, with the rate SPC had gone so far, earning is so strong. Maybe can reach a dollar if Oyong comes in at Sept. By then 9X PE will be $9.00, SPC still got lots of upside, a lot of upside.
Quotes:
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July 25, 2007, 5.59 pm (Singapore time)  |
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SPC Q2 profit up 32%
The company said it earned a net profit of $179.2 million (US$119 million) for the April-June period, compared with $135.7 million in the same quarter of 2006. Keppel Corporation, the world's top offshore oil drilling-rigs builder, owns 45 per cent of SPC. -- REUTERS |
Bengster,
Thank you for sharing with us what you heard during the AGM on 24.7.07. If there are more people like you, this world will a beautiful place !
BTW, I read your earlier posting inwhich a forum named CNA was mentioned. Can you pls. let me know how to get to this CNA forum, thks.
Pinnacle...3% divvy is on half-time. The other half gives another 3%, we are getting 6% (if calculate that way). Many blue chips are just giving 3% for FULL YEAR. I think this 20¢ will boost up the mkt tomorrow regardless the performance of Dow Jones tonight & oil price overnight. If I did not remember wrongly Pinnacle had loaded some today, congratulation.I did at the last hour of the trading session. Hope we are right tomorrow!...About the ML's report, I find disruptcy in it. 1st, SPC does not trade at 11X, it's 9X PE now. 2nd, they downgrade SPC but up the target price from $6.00 to $6.30. So it's upgrade or downgrade.
Merrill Lynch cuts SPC (S99.SG) to Neutral from Buy, believes refining margins have peaked for the year, likely to head down into 4Q07. Also notes SPC trading on 11x FY07 earnings which is at a premium to its regional refining peers at 10.2x. However, says that "while margins may trend down in 3Q and 4Q07, we forecast that they will be higher than the comparable quarters last year which should retain a certain measure of investor interest in the stock;" raises target price to S$6.30 from S$6.00. Closed down 0.7% at S$6.80 yesterday
Not taking into account of previous distributed dividends.
At $6.60 closing today, its just 3%.
However, if you have hold for the whole of this yr, then congratulation!!!
This counter really high return!!!
With 20¢ divvy, does that translate into 20¢ up tomorrow, plus mkt optimissim will achieve 30¢ at close? I had loaded up 5 more lots just before it closes at $6.65/$6.70. If so, I will be feeling fat then.
Oil refiner Singapore Petroleum Co. Ltd. (SPC)
The company said in a statement that it earned a net profit of S$179.2 million ($119 million) for the April-June period, compared with S$135.7 million in the same quarter of 2006, thanks to firm margins and robust demand for its refined products from across the region.
SPC said that it expects margins to be helped by constrained refining capacity in the region and strong demand.
"Demand for refined products will remain strong with the anticipated pace of regional economic growth. Margins are, therefore, expected to remain healthy for the rest of the year," SPC said in its statement.
SPC said it achieved an average refining margin of about $9 per barrel in the quarter, up from the average of $7 that it reported for the first quarter.
Asian complex refining profit margins during the April-June quarter averaged US$9.5 a barrel, compared with an average of $6.8 in the previous quarter, according to Reuters calculations .
Keppel Corporation Ltd.
SPC's main asset is its 285,000-barrel-a-day refinery -- Singapore Refining Company (SRC) -- a 50-50 joint venture between SPC and Chevron
Shares in SPC have risen about 56 percent this year, after an 8.4 percent drop in 2006, lifting the firm's stock market capitalisation to US$2.3 billion.
According to a mean of Reuters Estimates' poll of four analysts, SPC is likely to post a net profit of S$374.2 million in full-year 2007, compared with S$284.6 million in 2006.
SPC shares trade at 9.6 times their 2007 forecast earnings.
Among its Asian peers, Thai Oil PCL
Name of dividend Interim ordinary
Dividend type Cash
Dividend per ordinary share 20 cents
Tax rate Tax-exempt (one-tier)
Ex-dividend date 7 August 2007
Book closure date 5.00 p.m., 10 to 13 August 2007
Payment date 22 August 2007
First Half Review
For the first half of 2007, the Group recorded revenues of $3,899.5 million and a PATMI of $291.3 million.
There was continuing firm demand for crude and refined products in the first half year. The CDU No. 1 Complex shutdown and lower third party trading volume resulted in lower sales in the first half. Sales volume handled was 6.3% lower compared to the same period in 2006.
The average realisation of US$65.72 per barrel achieved in 1H 2007 was lower than the US$67.45 per barrel realisation in 1H 2006. The turnover for the first half was 13.8% lower as a result of the lower volume and realisation. However, the Group was able to capitalise on the healthy refining margins in the first half to record a 15.7% increase in gross profit compared to 1H 2006.
Due to procurement delays, first oil production from Oyong is now targeted to be in 2H 2007.
The Group?s income tax expense for the first half year was lower due to the write-back of deferred tax liabilities as a result of the lowering of the corporate tax rate in Singapore.
The Group achieved a first half year PATMI of $291.3 million, an increase of 43.1% over the same period in 2006.
With this performance, the Company will be paying an interim dividend in August 2007.