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Looks like losing steam today. Hope it will end up higher by closing!
What happen to this Marine counter? Announce result and looses steam? I will hold on to it for a long while, looks good to me.
Hey, this looks interesting, 2 analysts say TP about 1.2x, now is trading at 0.92, still a fair way to go to fair value TP. I am game....click click..done
ASL MARINE HOLDINGS LTD
UNAUDITED QUARTERLY FINANCIAL STATEMENTS ANNOUNCEMENT FOR THE THIRD QUARTER AND NINE MONTHS ENDED 31 MARCH 2009
Profit for the period $23.9mln vs 3Q08 +67.1%
http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_5C9E9AEAD19AED95482575B30032D494/$file/ASLMarine_3QFY2009_Results.pdf?openelement
The free float is quite little. With interest like this it can get higher. Vested.
Good to support this share, will go much further. I am a supporter.
wah piang! the stock ran up 9.5 cents today! Now 69 cents.
DBS target price is 82 cents
Report Date Broker Call Target Price
12 Feb 2009 DMG-OSK Buy 55 cents
12 Feb 2009 UOB Kayhian Hold 57 cents
12 Feb 2009 Kim Eng Buy S$1.62
12 Feb 2009 DBS Vickers Buy 82 cents
Aiyo, me bought 20 lot at 0.37 two weeks ago but sold at 0.385 because want kopi$. Should have more confident on this one!
1H09 1H08 %
Total revenue 226,342 193,373 17.0
Profit after tax 41,622 27,619 50.7
Impressive results, but share perfomance disappointing...
This is the so-called "invisible" hand of the market where the inefficiency lies....
slow and steady.....moving up....me vested...at 50c....
Report from DMG.
ASL Marine announced last week that it has entered into a conditional agreement with its JV partner, Manhattan Resources to dispose its entire 50% interest in ASL Energy to this partner. ASL Energy is a jointly owned entity between ASL and MRL. It is primarily involved in the marine transportation of coal in Indonesia. ASLE owns 64 tugs and barges as well as a floating coal terminal.
ASLE reported a net loss of $0.3m for 9M08 mainly due to higher foreign exchange loss, and absence of profits from Tabang coal concession (which completed its disposal earlier this year). Hence, we believe the divestment of this entity would enable ASL to streamline and focus on its core businesses.
ASL is in the process of adding two new graving drydocks for repair, with completion expected in 2009. Coupled with its fleet expansion plans, we estimate ASL requires a CAPEX of $100m and $50m for FY08F and FY09F respectively. Despite this high CAPEX going forward, we estimate ASL’s net gearing to reduce from 0.56x in FY08F to 0.18x in FY09F due to strong operating cashflow.
While there is no change to our FY08 estimates, ASL will record a net gain of $9.6m in FY09F, conditional upon the terms of this disposal. Hence, our FY09F net profit is raised from $70.1m to $78.1m. However, we maintain our TP of $1.83 based on 8.5x FY08F/09F blended recurring EPS. Maintain BUY.
ASL Marine
June 3 close: $1.28
DMG & PARTNERS SECURITIES, June 3
We are tweaking our forecast earnings. We have pegged our valuation parameter of 8.5x to FY08F/09F blended EPS (15 per cent discount to peers), given ASL's smaller market share in shipbuilding. We derive a TP of $1.83 (from $1.59 previously). Maintain 'buy'.
BUY
Published May 3, 2008
ASL Marine expands Batam shipyard for $30m
By
LEE U-WEN
JUST
three months after announcing record mid-stream revenue and earnings,
shipbuilder and charterer ASL Marine Holdings Ltd is now expanding its
Batam shipyard at a cost of $30 million.
In a statement released yesterday, the marine group said that its
subsidiary, PT ASL Shipyard Indonesia, will expand its ship repair
capacity and capability at its shipyard on Batam island.
Sharing
its plans, ASL chairman and managing director Ang Kok Tian said that
the shipyard's 260m graving drydock - one of the largest in Indonesia -
would be extended by a further 100m, allowing it to accommodate the
repair of larger vessels in the future.
A further two shorter graving drydocks will also be added to cater to medium-sized vessels.
All works are expected to be completed by next year, said the statement.
'We are expanding our shipyard capacity and capability in anticipation
of greater demand for shiprepair and conversion services. The expansion
will enhance our competitive edge and enable us to repair and service a
wider range of vessels,' said Mr Ang.
The $30 million investment would be funded through a combination of loans and internal resources.
It is not expected to have any material impact on the consolidated net
tangible assets and earnings per share of the company for the financial
year ending June 30, 2008, said the statement.
For its first six
months ended Dec 31, 2007, the group posted a 66.9 per cent
year-on-year jump in net profit to $27.98 million as revenue rose 23.7
per cent to $193.4 million on the back of an oil and gas industry boom.
It has been a rosy start to the new year for ASL Marine. In March, it
said that its shipyard unit had secured three new shipbuilding
contracts worth $126 million from existing European customers. These
new contracts saw the value of ASL's orders on its books soar to over
$700 million.
At the close of trading on Friday, ASL Marine
Holdings' shares ended at $1.13 apiece. It traded at a high of $1.92 in
October last year.
although we are seeing alot of charts movement...however the volume traded for this counter is very thin
Is it still worth to pick up this stock now? I have been holding it since it's IPO back in 2001 or 2002? I received only once divident, and sold it alway last July to take profit.
it won US$91m shipbuilding deals
Undervalued stock. Earnings expected to be better this year
Good NEWS for ASL Shareholder!!!
