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Hyflux - PRC JV Partners Sue for up to RMB436m
Hyflux has been served an Arbitration Notice by its PRC JV partners, collectively owning 75% stake in the JV, for certain non-water industrial project works carried out by its subsidiaries. The total amount claimed by the Claimant is up to RMB436m or S$87m.
Hyflux believes that the allegations are without merit and will oppose all claims vigorously and intends to file substantive counter claims against the Claimant.
However, we believe this news will lead to knee-jerk exit of the stock as any potential lawsuit could drag a long time and the specified sum of money, while not big, could impact their earnings quite materially near term unless there is exceptional accounting treatment.
Hyflux: Technical Sell Call by CIMB.
House note that prices appears to have hit a short term top at $1.585, which is close to its 200-day SMA. Yesterday’s drop has taken prices below a support trend line on rising volume. This is likely to lead to further weakness in the near term.
MACD and RSI just issued their respective sell signals, which in turn also confirmed the bearish divergence signals. Aggressive traders should attempt to go short on this stock. The stock is a sell now with a stop placed above $1.585. This correction could see prices fall back towards $1.30, where its 50- day SMA and also its 50% Fibonacci retracement level currently lie.
Woah, Hyflux is doing share buyback. $1.445-$1.50
http://hyflux.listedcompany.com/news.html/id/289620Provides some comfort aft selldown today...
CIMB downgrades Hyflux to trading sell
CIMB Research downgraded Singapore water treatment firm Hyflux to trading sell from neutral and cut its target price to $1.23 from $1.28.
By 10:46 a.m., shares of Hyflux were 3.8% lower at $1.52, but have gained 26% since the start of the year.
Hyflux said on Wednesday its net profit for 2011 fell 40% to $53 million, hurt by lower sales as its projects in the Middle East neared completion and the Arab Spring riots
affected new contracts.
Hyflux: Low side of estimates. FY11 rev at $482.0m -15.4% yoy, net profit at $55.7m -37.3% yoy. Low revenue was due to near completion of projects in Middle East North Africa (MENA) and the impact of the Arab Spring but partially offset by contributions from the Tuaspring desalination plant project.
Geographically, Sg and other regions contributed approx 47% of rev, China with 29% share and MENA with 24% share.
Co has guided that the outlook is challenging with higher costs for foreign labour locally and economic problems in Europe and US to affect Asia and China. Net EPC orderbook stands at $931m largely due to the Tuaspring project. Included in the orderbook are expansion of 5 plants of which co is building for its 50/50 JV with Mitsui, under Galaxy NewSpring. Mgmt is expecting an additional 5 plants reaching 80-90% utilization lvls to be selected for expansion this yr which will further add to EPC orderbook.
A dividend of 2.1c has been declared, a drop from prev yr’s 3.5c.
Nomura maintains Reduce at TP$1.00 JPM maintains Neutral with TP$1.60
Hyflux dividend has been going down...disappointed. I sold my Hyflux this morning early early.
Will buy back next time when it hit $1-$1.20 again....ke...ke...
what is the reason for the sell down? the kim eng report? shortist?
this is my fav stock and I am wondering why
Hyflux ended the day on a positive note. It is current 3.6% away from the buy point of $1.525.
Read more @
http://thetradersdiary.blogspot.com/
time to sell for gd contra profits
come back again when it is oversold
gd luck~~!
ozone2002 ( Date: 03-Jan-2012 09:43) Posted:
will sell soon..
moving towards overbought zone..
stocks do not move in a straight line..they move in cycles..
gd luck~~
ozone2002 ( Date: 29-Dec-2011 22:21) Posted:
increasing volumes on the up bars...
looking mighty find for a reversal..
this rally has legs
Gd luck!!
DYODD!!..
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Congrat again for timely exit. Huat arhhhhhhh.
susan66 ( Date: 04-Jan-2012 11:38) Posted:
Luckily sold yesterday, just in time. If not today headache.  |
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Luckily sold yesterday, just in time. If not today headache.
Short at 1.28.
Pls drop to 1.24. i'll be happy.
yup.. offloading + profit taking in process..
back to 1.20 will be nice
bishan22 ( Date: 04-Jan-2012 09:48) Posted:
Sold at 1.33. Now shortist at work, dropping fast . Good luck.
bishan22 ( Date: 03-Jan-2012 09:36) Posted:
Any one jump in ? Vested at 1.22 this morning. Good luck.  |
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Sold at 1.33. Now shortist at work, dropping fast . Good luck.
bishan22 ( Date: 03-Jan-2012 09:36) Posted:
| Any one jump in ? Vested at 1.22 this morning. Good luck. |
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too bad no script to short.. any other broker allow this counter to short?
New123 ( Date: 03-Jan-2012 10:55) Posted:
| Be aware of the danger now. this kind of rally doesn't last long. I am thinking to short now.. |
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gg shorting le
Be aware of the danger now. this kind of rally doesn't last long. I am thinking to short now..
fantastic move today....huat arh
