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Revenue contribution from these 3 customers accounted for 52.5% of their total revenue in FY06.
Outlook will therefore tend to depend on production and downstream activities of these oil majors.
Companies in China command high valuations. Those listed here have lower valuations, but still quite high even if it's just half.
Moreover, the oil & gas sector is benefitting from high oil prices and have good growth prospects.
Don't mean to be offensive. But, it is overvalued at this point of time. Too much fat - price ahead of its biz growth. prospects.
PetroChina, Cnooc and Sinopec Groups are not small fries either. RHE has a solid track record these three Chinese Giants. It will be a matter of time they catch the attention of oil companies in the west. Getting listed in Singapore may just be a first step to getting international exposure. Who knows, big boys like Shell, BP and ExxonMobil will start taking notice of this company. Trust the management to make good judgement and having made a good decision to list here. Those of you lucky enough to get a few lots at IPO should hold on. I believe this company will go far.
Received strong interest for the Placement Shares from institutional and corporate investors including funds manged by AIG Global Investment Group, funds under the management of Prudential Asset Management (S) Limited and its related company and Pacific Asset Trust Plc, an investment trust managed by Foreign & Colonial Investments.
Don't mean to be offensive. But Ausgroup's customers are multinationals (e.g. BP, and Chevron). RH Energy's clientele are concentrated in PRC who may not have deep pockets like Ausgroup's . Let time and the market determine whether it is overvalued at this point of time, not two years down the road.
This one could Ausgroup in the making
Yes, I also think it is crazy. It may be overvalue.......
this is too crazy.... though would like to be vested...
Not vested. Agree with Pension not to be made "suckers" of BBs/syndicates. No stock in SGX history has gone up non-stop after "when issued". Will correct itself for sure.
the price of this counter is very high now, if you do not wish to caught in the net, exist now and wait for the price to fall before going in again.
R H Energy is an oil & gas equipment integration service provider in the PRC. Itoffers a full suite of integrated customised design, engineering, procurement, construction, installation and commissioning services to the oil and gas pipeline, storage operators and oil companies. Their principal activities can be classified as:
It surged to $0.965, which is more than triple its $0.32 IPO price. $1.00 soon?
Opening from 73c, hit a high of 90.5c B4 settling at 87c. Beyond my expectation.
OCBC has a buy call with tp of $0.69. They forecast revenue growth of 95% yoy to US$33.2m for FY07 and net profit growth of 27% yoy to US$5.1m after taking into account one-off expenses incurred for the IPO. They expect further double digit growth in FY08 revenue and net profit. Based on FY08 PER of 16x, a fair value of $0.69 is derived.
