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Before d cheap sale, it was closed at $5.04 on 22 Fri last mth. Sub Mon it closed at 605 instead of better px than d offer px of 6.25. Generally, retailers are conservative on the jack up offered px, they felt that not easy to break 6.25 even with surging CO px lately.
Ha ha, stupid AK bought few yesterday to test d market, obviously it will get stuck as well, unless clear them with loss of commission loh.
And also the price is not cheap, stuck $6k plus for profit of around $150. This $ could be used elsewere with potentially higher gains.
This is expected. Investors are not stupid. Price too low and investors will rush in to buy to have a larger gain in profit. Price too high and nobody wants to buy since they already know the general offer price by PetroChina should this general offer comes through maybe around $6.25 per share.
why is SPC like this? no up no down.
I truly agree with your viewpoints, I do hold some lots as my core holdings for the long term & some for short term trading in & out based on charts as I too believe in the long term appreciation value of SPC
pharoah88 ( Date: 29-May-2009 13:11) Posted:
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return of 3.2% pa if it take one year to get paid. but it may take less than that probably six mths, so annualised return of 6.4% decent return than FD and certainly much lower risks than other counters.
jeremyow ( Date: 29-May-2009 03:03) Posted:
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Please Annualised the % of Return over 360 Banking Days as though the money earning interest in the bank.
According to this morning's China Economist (Refer to Channel News Asia Interview at 8:20am), PetroChina has a long term Strategy for SPC. PetroChina share price GAP UP over three consecutive days (including today).
PetroChina will grow SPC into a more sophisticated Refining Complex to serve China's major customers in Growing Middle East with over 300 Million population. Singapore's location is most Strategic as in NEW SILK ROAD (Please refer to the book written by the interviewed China Economist).
SPC will definite be more productive, effective, efficient, economical and prosperous.
PetroChina can SLASHED SPC Management Cost by at least 50% using Chinese Managers from China. Even deploy Chinese Technicians from China. Use Chinese Core Contractors from China. With such cost cutting, SPC profitability will SOAR.
Shareholders should THINK THRICE to hold the Price HIGH and refuse to accept the general offer at S$6.25 which is a DIRE DISCOUNT to its previous HIGH above S$9.00. With the depletion of oil reserve and current rising Oil Prices, SPC is worth more than S$10.00.
Do NOT accept delisting of SPC which will prosper very soon.
THINK THRIC to Hold on to your SPC shares, it is worth more than S$6.25.
HOLD ON to your SPC FORTUNE.
CHEERS!
Sorry for my mistake......The % return for the hypothetical case below should be 3.2% and not 24% based on purchase price of $6.05. 24% return was if an investor bought on last Friday (22 May) before the release of the news. Again, it's up to the investor's choice. One may wait for a better lower price to enter into SPC since the % return of 3.2 % is not that much or look for other investment choices with high certainity of better rates of returns.
jeremyow ( Date: 29-May-2009 02:46) Posted:
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If the news for the general offer for remaining shareholders at $6.25/ SPC share has been released, an investor is almost sure of the target price in the end. This is investing with high probability of knowing what is eventually the rate of return one gets since the target price of $6.25 per share is already known. What's left is to enter at the lowest price possible to max out the % profit gain.
E.g. If one bought SPC shares at $6.05 per share, he would have secured a 24% profit gain with a high certainty. Even better if he knows the date the general offer is going to take place, he will then be able to know how long he takes to realise this % return.
Compare this with someone who bets into another stock counter which he thinks may have better % returns but does not even know the short-term % upside in the counter over the same period of time to the general offer for SPC shares.
The choice is up to the investor? Invest with high probability of making a known profit from SPC (e.g. 24% profit assuming purchase price was $6.05 per share) or try one's luck at another counter which may not be certain to make higher than 24% return over the same period.
Thank god their target price is not more than $6.25 man!! haha ...
No brainer sia ... BTW .. why would you trade a stock with only a marginal gain ? There are tonns of stocks with higher potential now. To me SPC stocks already locked at 6.25 and where are the rooms for increment ?
I rather go for other blue chips with skies being their limit?
I will go for `HOLD' or jammed brake.
Basically these analysis made me feel happy after a long day of battle.
For Fun and Laughter , peace and joy :)
yipyip ( Date: 27-May-2009 22:47) Posted:
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if u believe the peak oil theory, consider keeping it long term...oil price drops due to demand destruction may not hold for too long if it is valid...emerging markets such China which are building up their economy are stocking up resources at this moment while it is still cheap...China is buying oil from many oil countries on inter-state contract instead of going through the conventional trading mkt secretly ....further quantitative easing is going to support the oil price
completion of the petrochina deal sometime in july 09, only after that will they make a general offer to the rest of the shareholders for $6.25.
The share maintain at 6.09-6.10 these 2 days. Need advice whether to sell off to take profit or to hold till 6.25???? It doesn't seem to surge
yes, but i see oil px at 70 till mid 2010 before it go down to 20 plus...i read and convince fr eslewhere , not mine makeup
waterfalls ( Date: 26-May-2009 13:18) Posted:
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either to create job or act busy
This is no-brainer. Don't know why they even came up with it.
yipyip ( Date: 27-May-2009 22:47) Posted:
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Singapore Petroleum Co -250509-DBS VICKERS SECURITIES
Singapore Petroleum Co (SPC)
May 25 close: $6.05
DBS VICKERS SECURITIES, May 25
ACQUISITION by Petrochina: Keppel announced yesterday that it had entered into an agreement to sell its entire 45.51 per cent stake in SPC to Petrochina for $6.25 per share, or US$1.47 billion in cash.
Generous offer: The offer price is at 24 per cent premium to last Friday’s closing price and implies 15.7 times 2009 PE and 11.6 times 2010 PE, and 1.8 times and 1.7 times P/BV, respectively.
The offer price is generous and valuations are significantly higher than regional peers’ average of less than 10 times PE for 2009-10 and 1.1-1.2x P/BV.
But for Petrochina, the price tag implies EV/refining capacity of US$16,000/bpd including SPC’s distribution network and E&P assets, which is still lower than the estimated refinery replacement cost of US$20,000/bpd.
Upgrade to ‘buy’ with target price of $6.25: The share sale should trigger a tender offer. In our view, the offer price is attractive and we recommend investors accept the offer.
With this tender offer, SPC’s share should rise to $6.25, which implies 24 per cent upside.
BUY
Agree! it's a mattter of time before oil rises to record level again...so dun sell out SPC too early !!
pharoah88 ( Date: 26-May-2009 10:18) Posted:
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Check out the SPC corporate information at its website.
SPC is the ONLY SINGAPORE OIL WELLS in STI.
PETROCHINA is SMART NOT to DELSIT SPC so that SPC will return to above S$10 when the OIL PRICE reaches USD200.
Check out Jim Roggers Advisory.
NEVER mistaken SPC as a run-of-the-mills refiner.
NEVER be so NAIVE to accept a GENERAL OFFER at S$6.25.
My be for S$10.00, it can be CONSIDER.
INVEST STRATEGICALLY in the LONG TERM.
NEVER TRADE SPC which is Singapore's Strategic Oil Resource.
CHEERS!
BT quoted PetroChina as "not intend to delist".
if they do want to take it private, then no choice off load earlier than expected.
Base on similar takeover, they do buy the majority stake in the company but leave it publicly listed (see GMG Global and Sinochem). My theory for leaving it publicly listed is so that they can offload easier if they have to, in the future.
If SPC is absorb into PetroChina, then maybe SPC got better growth potential. Maybe SPC will be renamed, Sino Petro Company?