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5941-5960 of 5997
This cosco, inspite of most analyst giving its TP , for last many month, its price is WAY ABOVE TPs. let see what TP given now:
DB 41c
Citi 105
CS 51
JPM 66
CIMB 67
Phillips 103
Agree. Anyway it's government-owned and the balance sheet is still healthy. Assuming it doesn't get any new orders, its current book order of US$5.6B will still last it another 2-3 years. I believe by then the outlook would have greatly improved and the stock price will reflect that in time to come. Let's not forget to account for China's economic growth prospects in the coming years!
nickyng ( Date: 23-Feb-2010 10:05) Posted:
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tradersgx ( Date: 23-Feb-2010 09:59) Posted:
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Cosco Corp (S) posts 63.6% fall in net profit to $110m for FY09
http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_8748F3EC6197E8B7482576D2002511AB/$file/Cosco_Full_Year_Results31Dec09.pdf?openelement
Cosco Financial Report Out Liao - Check it out yourself in sgx.com
(i) Consolidated Income Statement
Group
S$'000 %
2009 2008 Change
Turnover 2,899,004 3,476,009 (17)
Cost of sales (2,601,406) (2,845,875) (9)
Gross profit 297,598 630,134 (53)
Other income (net) [1] 146,314 207,942 (30)
Expenses
- Distribution (42,420) (61,642) (31)
- Administrative (181,250) (316,855) (43)
- Finance (Interest) (41,904) (8,834) 374
Share of profit of associated companies [2] 214 643 (67)
Profit before income tax [3] 178,552 451,388 (60)
Income tax expense [4] (40,758) (31,620) 29
Net profit
137,794 419,768 (67)Attributable to:
Equity holders of the Company 110,080 302,588 (64)
Minority interests 27,714 117,180 (76)
Net profit 137,794 419,768 (67)
Earnings per share for profit attributable
to equity holders of the Company
(expressed in cents per share)
- basic 4.92 13.51 (64)
- diluted 4.92 13.50 (64)
looks like the BBs are accumulating this one..
technical indicators are trending up for this former market darling..
has to break 1.33 to fly further..
building ship only take 1.5 years most form keel lying to delivery. luckily sold the stock at 1.35...
Hmm that's also possible... but the timespan of a ship building contract is usually quite long, how to window dress until a lot of ships get delivered in Q4?
Year End WINDOWS DRESSINGS????
Geomancy???? Fen Shui????