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kingster ( Date: 25-Feb-2010 08:54) Posted:
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nO transactiOn at all?
uptrend is coming soon.
i should be able to form some bottom at 0.68- 0.70.
suggest buy in at this levels, low risk.
kingster ( Date: 26-Feb-2010 15:18) Posted:
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At a Glance
•
FY09 results beat our above-consensus forecast.•
Strong JV contribution in 4Q boosts bottom line.•
Reiterate BUY, TP unchanged at S$0.92.Comment on Results
Ezion beats the street. FY09 revenue more than doubled to
S$73.6m, driven by expanded vessel fleet and higher contribution
from its marine services business. Headline net profit was S$17.1m
(+113% y-o-y). Excluding net exceptional loss of S$2.5m, recurring
net profit is estimated to be S$19.6m (+144% y-o-y), beating our
above-consensus forecast. The outperformance was despite
S$1.2m doubtful debt provision, and was mainly due to stronger
than expected JV contributions in 4Q, with commencement of
work on Phase 1 of the Gorgon project. Net gearing increased as
loans were drawn to finance its liftboat newbuilding programme. A
final dividend per share of 0.06 Scts was declared.
First liftboat deployed. Ezion’s first liftboat, the
been delivered and chartered out to Ezra since Jan 2010. It is
currently being deployed to an oil supermajor operating offshore
Africa. The next liftboat is scheduled for delivery in 2Q10.
Potential sale and lease back deal? The group revealed that it
would seek to raise capital from its existing key assets. We believe
this could indicate a sale and lease back (SLA) of one of its liftboats.
With net gearing expected to reach 1.1x by end FY10, an SLA
would be positive, as it would allow capital to be recycled into the
business to pursue other opportunities.
Lewek Leader, hasRecommendation
Reiterate BUY. While Ezion disposed a small vessel in 4Q09, the
impact to earnings is estimated to be insignificant. Hence, we
maintain our above-consensus FY10 earnings forecast of S$54.5m.
Our TP remains unchanged at S$0.92, still pegged to 12x FY10 PE.
Near term catalysts could be the announcement of tender results
for Phase 2 of the Gorgon project over the next two months.
Maintain BUY.
kingster ( Date: 25-Feb-2010 08:54) Posted:
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http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_9EE3FFA39D70A9D3482576D400324833/$file/Ezion_FY2009_results.pdf?openelement
fantastic results! let's see how it moves tomorrow!
sold some of mine at 0.745 once it hit my own predicted tgt of 0.75. it look pretty strong. but US futuresdata tell me to take some profit and wait at the sideline.
but i had still vested in it somemore. that is for the middle term tgt of 0.85 to 0.90.
CHARTVIEWS For 19th February 2010
Ezion Holdings - Bullish breakout suggest more upside potential
Levels to Watch in Trading: Support set at S$0.69
Resistance set at S$0.775
Stock Rating: No Rating
Target Px: NA
Last Closing Px: S$0.71
52-week Px Range: S$0.10 - S$0.89
SGX Code: 5ME
BLP Code: EZI SP Equity
trend reversal.
moving 0.80.
GORGON
GO RG ON
GO RIG ON
GO RIGHT ON
covered the gap..technicals on uptrend..
moving in line with ausgrp..
GORGON project?
| >> PART I |
| 1. | Date of notice to issuer * | 04-02-2010 |
| 2. | Name of Substantial Shareholder * | APG Algemene Pensioen Groep N.V. |
| 4. | Information relating to shares held in the name of the Registered Holder | ||||||||||||||
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ About APG APG carries out collective pension schemes for participants in the education, government and construction sectors, cleaning and window-cleaning companies, housing corporations and energy and utility companies. We manage pension assets of in total approximately 205 billion Euros (as at 30 June 2009) for these sectors. http://www.apg.nl/apgsite/pages/english/about-apg/ |
i think ezion is still in downward trend. selles not yet flush out.
i think i will go down to 0.60.
i am holding my own for long term.
alexchia01 ( Date: 09-Feb-2010 11:43) Posted:
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