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one sentence to sum up. the managment mis caculated in this instance. sad sad. i think alot of people will stay away on this trust for a long long time.
But even during recession times... March 09. They still give 0.0214!!! If they had adjusted the March09 DPU, I believe investors wont have such a shock! Now after "9Months rally" They suddenly drop this kind of bomb? Wow, I hv got nothing else to say...
dealer0168 ( Date: 17-Aug-2009 11:23) Posted:
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Not all lah. Depend on their management, how they work around on it. A reduce in DPU is a must to help them to sustain during the recession.
During recession, can't ask fr more. When good times come back, u will get back the good DPU again. Cheers pal.
For Rickmer case is more of a mistake they made during good time. Resulting in heavy cut in DPU.
If they know recession coming, they would not have commit all this mistake. Anyway no one can predict when the recession arrive also, they are human like us.
des_khor ( Date: 17-Aug-2009 11:17) Posted:
| Investment trusts gone case liao... all are bubbles as highly depending on refinance !! |
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So long history, yet so short a price! I wonder what best. TO buy or stay away.
yes.. if you bot above 50cts.. just hold it, no pt sell now..
MikeL2009 ( Date: 17-Aug-2009 14:27) Posted:
| The drop could also have been accentuated by the drop across most counters due to not-so-heartening data from the US on consumer confidence. So, Rickmers fan take heart. Naturally, those who have pocketed good dividends quarter after quarter in the past will naturally be disheartened, but look at the BIG PICTURE! It's not as if revenue dropped by 52%. It increased, only that dividend is unexpectedly less, but that's due to extenuating circumstance. Good sense and prudence will prevail. Market is likely overreacting with knee jerk response, hopefully some good sense will return next week. I'm holding till the tide turns. |
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The drop could also have been accentuated by the drop across most counters due to not-so-heartening data from the US on consumer confidence. So, Rickmers fan take heart. Naturally, those who have pocketed good dividends quarter after quarter in the past will naturally be disheartened, but look at the BIG PICTURE! It's not as if revenue dropped by 52%. It increased, only that dividend is unexpectedly less, but that's due to extenuating circumstance. Good sense and prudence will prevail. Market is likely overreacting with knee jerk response, hopefully some good sense will return next week. I'm holding till the tide turns.
How come only UOB Kay Hian put a hold on the stock?
Rickmers Maritime
(HOLD/S$0.585/Fair: S$0.760) Page 32
2Q09: Reduces distribution policy from 46% to 13% for financial flexibility
and declares DPU of 0.6 US cents.
Haha... Nol in very red...Cosco still profitable ....
commando ( Date: 17-Aug-2009 13:29) Posted:
| really dun understand. NOL & Cosco loss money yet up. Rickermer make money plus div (less compare to last qtr) drop like bird shit. NAV still us$0.87 wat. All brokers downgrade the stock....why? why? |
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Investors are pampered with good DPU, and for sure there are investors who invested in shipping trust for its high DPU. So naturally, when DPU is down they all want out.. very short term investors.
As i mentioned b4, even if the NAV cut another 40%, its NAV is still over SG70cts. One thing disappointed with them is, they didnt give DPU guide.. n suddenly drop a bomb down.. many ppl cannot take it.. even im a fan of rickmers for sometime feel angry with their sudden decision.
commando ( Date: 17-Aug-2009 13:29) Posted:
| really dun understand. NOL & Cosco loss money yet up. Rickermer make money plus div (less compare to last qtr) drop like bird shit. NAV still us$0.87 wat. All brokers downgrade the stock....why? why? |
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really dun understand. NOL & Cosco loss money yet up. Rickermer make money plus div (less compare to last qtr) drop like bird shit. NAV still us$0.87 wat. All brokers downgrade the stock....why? why?
can see two groups today, one panick selling, another panick buying...
wow...DBS is really pesimistic on this burger siah..... :P
*DJ Rickmers Maritime Target Cut To S$0.40 From S$0.50 By DBSV
Must hold the fort!!!!!!!!!!!!!!!!!!!!!! Pick up more on dips
After panic selling.. some investors begin to pick up some cheap lots.. if can close above 50cts, i tink im happy with it liao at the current moment.
jeremyow ( Date: 17-Aug-2009 11:29) Posted:
Typical volatility of the stock market.......always unpredictable and moody......Nothing interesting at all as it always goes up and down in roller coaster rides........Let's wait very patiently for Mr Market's right mood to buy shares from or sell shares to him.......
des_khor ( Date: 17-Aug-2009 11:21) Posted:
| Black Monday repeat itself? |
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Typical volatility of the stock market.......always unpredictable and moody......Nothing interesting at all as it always goes up and down in roller coaster rides........Let's wait very patiently for Mr Market's right mood to buy shares from or sell shares to him.......
des_khor ( Date: 17-Aug-2009 11:21) Posted:
| Black Monday repeat itself? |
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Not all lah. Depend on their management, how they work around on it. A reduce in DPU is a must to help them to sustain during the recession.
During recession, can't ask fr more. When good times come back, u will get back the good DPU again. Cheers pal.
For Rickmer case is more of a mistake they made during good time. Resulting in heavy cut in DPU.
If they know recession coming, they would not have commit all this mistake. Anyway no one can predict when the recession arrive also, they are human like us.
des_khor ( Date: 17-Aug-2009 11:17) Posted:
| Investment trusts gone case liao... all are bubbles as highly depending on refinance !! |
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Black Monday repeat itself?
Agreed with you too.
At least current px is more or less stable given large number of queue buy at 0.440-0.445..
jeremyow ( Date: 17-Aug-2009 11:12) Posted:
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I agree with you that as retail investors, it is difficult when the company is not very transparent with providing more information about their current decision to reduce the DPU. Their reason is a simple one such as "trying to conserve cash in lieu of refinancing needs". Of course, the average investor is at the mercy of the company's management decisions. So, it is also important that we invest in companies that are transparent in their dealings with shareholders (which always have the interests of their shareholders at heart). Most companies always talk big when they are doing well. However, not many companies will talk more when they face challenges or difficulties. It is the company which is honest and open with their dealings with shareholders even when admitting mistakes and taking actions to correct them which is worth a closer look as an investment candidate. Such minority of companies that show integrity and interests for their shareholders are always better than other companies that failed in this aspect. Better still is such companies that have integrity and also excellent business economics in their favour.
How to detect integrity in a management? Always look for signs that the company do what they say. It is no use babbling about a lot of things in annual reports and in the end fails to excecute all or most of the things said. Also, a company that openly admits any mistakes to shareholders and takes proactive actions to correct their mistakes is another sign of upmost integrity. Such companies display not just integrity, transparency but also wants to do well and has the interests of their shareholders at heart.
<A company's management that shows integrity and interest for shareholders is always a highly worthy candidate for investment. Shareholders of the company knows they are well taken care of and the company will always carry out their business with the interests of their shareholders at heart.> <Better still is the company that shows integrity and also has excellent business economics in their favour. This is surely a most worthy candidate for investment.>
sureesh40 ( Date: 17-Aug-2009 10:51) Posted:
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good point jeremy, but we don't know what is going to happend in future, Rickmers has not given any guidance. Their website is still showing yield of 28%. What if they permanently give such a low dpu. I wish their management will give a statement to allay investors fears.
How much more of the future dpu will they have to retain in order to fully refinance their debt. There should be more transparency. |
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Monday blue, and market is red. At this moment, i like to take a moment and sing to the tune of "That Sinking Feel..."
Near, far, wherever you are, i believe that my heart will go on...
Investment trusts gone case liao... all are bubbles as highly depending on refinance !!
I agree with you that as retail investors, it is difficult when the company is not very transparent with providing more information about their current decision to reduce the DPU. Their reason is a simple one such as "trying to conserve cash in lieu of refinancing needs". Of course, the average investor is at the mercy of the company's management decisions. So, it is also important that we invest in companies that are transparent in their dealings with shareholders (which always have the interests of their shareholders at heart). Most companies always talk big when they are doing well. However, not many companies will talk more when they face challenges or difficulties. It is the company which is honest and open with their dealings with shareholders even when admitting mistakes and taking actions to correct them which is worth a closer look as an investment candidate. Such minority of companies that show integrity and interests for their shareholders are always better than other companies that failed in this aspect. Better still is such companies that have integrity and also excellent business economics in their favour.
How to detect integrity in a management? Always look for signs that the company do what they say. It is no use babbling about a lot of things in annual reports and in the end fails to excecute all or most of the things said. Also, a company that openly admits any mistakes to shareholders and takes proactive actions to correct their mistakes is another sign of upmost integrity. Such companies display not just integrity, transparency but also wants to do well and has the interests of their shareholders at heart.
<A company's management that shows integrity and interest for shareholders is always a highly worthy candidate for investment. Shareholders of the company knows they are well taken care of and the company will always carry out their business with the interests of their shareholders at heart.> <Better still is the company that shows integrity and also has excellent business economics in their favour. This is surely a most worthy candidate for investment.>
sureesh40 ( Date: 17-Aug-2009 10:51) Posted:
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good point jeremy, but we don't know what is going to happend in future, Rickmers has not given any guidance. Their website is still showing yield of 28%. What if they permanently give such a low dpu. I wish their management will give a statement to allay investors fears.
How much more of the future dpu will they have to retain in order to fully refinance their debt. There should be more transparency.
jeremyow ( Date: 17-Aug-2009 10:33) Posted:
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Herd mentality.......panic selling.........People mostly get ruled by emotions when buying or selling. They act as though thinking the company is going to close down when in fact Rickmers has had a recent good quarter of financial earnings and revenue. It is just that it is conserving cash by giving out lesser distributions. So, to the courageous ones who refuse to agree with the crowd to sell, they will instead buy upon such rare opportunity when prices maybe temporarily depressed.
Somemore, if one has bought at substantially lower than Rickmers's NAV per unit, even if the company close down (which I think is unlikely), one may not lose his capital totally since he may get back some cash after the company liquidates it's assets and pays off it's debts, and still has cash left over to return to it's shareholders. Only those that bought at higher unit prices (above the NAV per unit) has cause for concern because they paid too high price (lock in too much capital) to own the units of this company.
<By not agreeing with the crowd, one is neither right nor wrong. Only the company's future prospects will prove itself.>
<Think of the worst consequence that can befall oneself before selling shares or units of a company. Do not be impulsive to always react based on just one or two difficult quarters in earnings or paying out dividends the company is facing. Always think long term in terms of the company's future business prospects when dealing with their units or shares.> |
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