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anyone here can post local b.h one. for stengg... appreciated 
btw, technology not even mention.
enghou ( Date: 16-Feb-2011 17:20) Posted:
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Safe heaven stock. Closed nicely today. Looking at $$$ sign again. 
bishan22 ( Date: 15-Feb-2011 19:20) Posted:
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RBS recommends BUY with Target Price at $4
STE's 4Q10 earnings were in-line, showing 16% yoy growth, although we are yet
to see recovery in the aircraft maintenance division. Maintain Buy, target S$4.
4Q10 earnings were in line
! 4Q10 net profit grew 16% yoy and was in-line with our and Bloomberg consensus
expectations.
! The top line rose 10% yoy, driven by growth in Land Systems (26% yoy), due to higher
project deliveries and specialty vehicle sales, and Marine (28% yoy), from both shipbuilding
and ship repair. The Aerospace division saw flat yoy sales growth in 4Q10, which is due to a
USD depreciation against the SGD. Excluding the currency effect, STE believes the
Aerospace division saw 5% yoy sales growth.
! At the profit before tax level, the Aerospace division saw 51% yoy growth on lower financing
cost, change in depreciation policy and a better sales mix. Aerospace accounted for 45% of
the total profit before tax, which is an increase from 39% in 4Q09.
! Dividend of 14.55 cents per share was declared (90% payout), which is 5% below our
forecast of 15.33 cents.
2011 guidance as expected - steady growth
! The order book stands at S$11.5bn as of 4Q10, of which S$3.7bn is expected to be delivered
in 2011 - this is equivalent to 58% of our 2011F revenue.
! Management expects revenue and profit growth for 2011 - flat Aerospace revenue growth due
to further USD depreciation, but higher profits on continued sales mix improvement.
Higher ROE going forward justifies a higher PB, in our view
! We maintain our Buy rating and DCF-based target price of S$4 (26% potential upside). At our
target, STE would trade at a 2011F PE of 25x and PB of 7.8x - at the higher end of its
historical ranges - which looks justified, given our view that ROE will expand to historical
highs of 31.4% in 2011 and 34% by 2012.
! The stock trades at a 2011F PE of 20x and PB of 6.2x for an ROE forecast of 31%.
! We believe the stock has defensive qualities, with close to 60% of this year’s revenue secured
and potential dividend yield in FY11 of 4.8%.
Life Is Great
ST Engineering (STE SP S$3.22) |
STE announced during the lunch break that its US shipyard, VT Halter Marine, has been awarded a shipbuilding contract worth about S$185m (US$144m) from Honolulu-based Pasha Hawaii . The ship is expected to be delivered in the second half of 2013. Work on the newbuild commences immediately. Maintain Outperform and target price of S$3.88. |
/cimb/
ST Engineering - Earnings resilience is in the price (HOLD, $3.15 - TP $3.15, STEG.SI / STE SP, Conglomerates) |
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While ST Engineering’s (STE) headline FY10 earnings of $491.0m were above our forecast of $476.8m, they would have been slightly below our core expectations but for the gain derived through a change in the group’s depreciation policy. Despite this, earnings were generally resilient. STE declared a final and special dividend totalling 11.55cts for a full-year payout of 90% of earnings. FY11F PER stands at 17.1x, which is fairly valued in our opinion. We maintain our target price of $3.15 and HOLD recommendation. |
/KIMENG/
I think this is quite a safe counter. Long term will see its price moving back to $3.45 - $3.50 ...
Very stable dividends...
ST Eng: Stable results largely in line with expectations. FY2010 Rev at $6.0b +7.9%yoy and profit of $491.0m +10.6%yoy. Profit was also boosted by an accounting policy change resulting in a decrease of $39.5m in depreciation charges. Of the 4 segments, rev growth was from Land Systems and Marine sectors while Aerospace and Electronics revenues were comparable to prev yr, profit was up more than 10% for all segments.
Higher shipbuilding and ship repair were main contributors to Marine, and Land Systems benefitted from its automotive and service & trading divisions. Co expects rev for Aerospace to remain stable and rev to increase for other businesses, all segments' profit to continue to increase in FY2011.
Order book at hefty $11.5b compared to 2009 at $10.3b with mix of contracts in all 4 segments. Dividend of 11.55c per share declared, tgt with prev interim of 3.00c in Sept translates to a 4.62% div yield based on last traded price. Current P/E 19.44x is close to hist avg of 19.66x
Deutsche maintains Buy with TP at $3.95 citing deeper involvement with US military and positive prospects, and Citi maintains Buy with TP at $3.80 also likes div payout at 90%, and growth outlook. DBS maintains Buy with TP at $3.85.
Higher shipbuilding and ship repair were main contributors to Marine, and Land Systems benefitted from its automotive and service & trading divisions. Co expects rev for Aerospace to remain stable and rev to increase for other businesses, all segments' profit to continue to increase in FY2011.
Order book at hefty $11.5b compared to 2009 at $10.3b with mix of contracts in all 4 segments. Dividend of 11.55c per share declared, tgt with prev interim of 3.00c in Sept translates to a 4.62% div yield based on last traded price. Current P/E 19.44x is close to hist avg of 19.66x
Deutsche maintains Buy with TP at $3.95 citing deeper involvement with US military and positive prospects, and Citi maintains Buy with TP at $3.80 also likes div payout at 90%, and growth outlook. DBS maintains Buy with TP at $3.85.
Today most likely buying for dividends. 
if can buy over SIAEngg at a good price, this stock will cheong.....
dividends also less liao. btw, when you bot steng i means year...
4 arms, land, air and sea + technology
land = so so
air = almost newless
sea = Ok
Tech = ? ??
this is for defensive play,...
bishan22 ( Date: 15-Feb-2011 19:20) Posted:
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Been collecting good dividends for many years liao. Never regret to collect when the price is low. Those vested, at least have some prawns to eat. Good luck. 
bishan22 ( Date: 31-Jan-2011 16:38) Posted:
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WoW !! A very impressive dividends payout. btw when paid? as expected marine remains as steng cash cow. aerospace? ??
ST Engineering posts 11% rise in full-year net profit to $491m
ST Engineering has posted a net profit of $491 million for the full year 2010, an 11% increase over 2009. Group turnover grew 8% to $5.98 billion.
The Land Systems and Marine sectors registered strong turnover increases of 29% and 10% respectively. The higher turnover in the Land Systems sector was mainly attributable to higher project deliveries and the sale of specialty vehicles. The Marine sector did well with higher shipbuilding, shiprepair and engineering activities such as engine repairs and naval logistics management. Notably, the Marine sector crossed the billion-dollar mark for its turnover for the first time.
Earnings per share grew by 10% to 16.21 cents and economic value added increased by 21% to $369.7 million. The group achieved a respectable 30.3% return on equity (ROE). For the full year, commercial sales constituted 59% or $3.5 billion of the group’s turnover. Cash and cash equivalents and short term investments totalled $1.79 billion, including customer advance payments of $1.53 billion.
ST Engineering’s board of directors is proposing a final dividend of 11.55 cents per share, consisting of an ordinary dividend of 4 cents per share and a special dividend of 7.55 cents per share.
Together with the interim ordinary dividend of 3 cents per share paid in September 2010, the total dividend of 14.55 cents translates to a yield of 4.36%, computed using the average closing share price of the last trading day of 2010 and 2009.
ST Engineering ended 2010 with a strong order book of $11.5 billion, compared to $10.3 billion as at end 2009. About $3.7 billion is expected to be delivered in 2011.
ST Engineering has posted a net profit of $491 million for the full year 2010, an 11% increase over 2009. Group turnover grew 8% to $5.98 billion.
The Land Systems and Marine sectors registered strong turnover increases of 29% and 10% respectively. The higher turnover in the Land Systems sector was mainly attributable to higher project deliveries and the sale of specialty vehicles. The Marine sector did well with higher shipbuilding, shiprepair and engineering activities such as engine repairs and naval logistics management. Notably, the Marine sector crossed the billion-dollar mark for its turnover for the first time.
Earnings per share grew by 10% to 16.21 cents and economic value added increased by 21% to $369.7 million. The group achieved a respectable 30.3% return on equity (ROE). For the full year, commercial sales constituted 59% or $3.5 billion of the group’s turnover. Cash and cash equivalents and short term investments totalled $1.79 billion, including customer advance payments of $1.53 billion.
ST Engineering’s board of directors is proposing a final dividend of 11.55 cents per share, consisting of an ordinary dividend of 4 cents per share and a special dividend of 7.55 cents per share.
Together with the interim ordinary dividend of 3 cents per share paid in September 2010, the total dividend of 14.55 cents translates to a yield of 4.36%, computed using the average closing share price of the last trading day of 2010 and 2009.
ST Engineering ended 2010 with a strong order book of $11.5 billion, compared to $10.3 billion as at end 2009. About $3.7 billion is expected to be delivered in 2011.
ST Engineering, the Singapore aircraft repair firm and arms maker, said its full-year 2010 net income rose 11% from the previous year to $491 million.
I think is Good time to consider to buy this counter... Dividend of about 10+ cents is coming and might provide some support when it announces it's result on 15 Feb.
3.4 to 3.18... hehhehehee... 2.18 I will hop onto it with my broken bunny leggies.
jamesng ( Date: 10-Feb-2011 10:52) Posted:
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This stock drop from 2.4+ to current low of 2.18.....dividend of more then 10 cents and strong results likely to announce soon will likely boost this counter when market turn for the better......
Add more today for dividend play...coming in April.
bishan22 ( Date: 31-Jan-2011 16:38) Posted:
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Whats the mathematic formula you used to derive your pivot pt @ 3.34? Why didnt you consider 3.23 as the current physiological support?