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Last time there was some target price of 84c. Really if you are holding onto oil related stocks, target prices are quite meaningless. The companies will continue to win more contracts and target prices will be irrelevant.
Look at ASL Marine now at $1.26. Swissco is "definitely continuing its journey to Iran"
Swissco secured contracts worth $12.7mil.
Today 8th May... any announcement?
It is incorrect to say that Swissco's NAV is 49 cts/shr, their Swiber stake is 55 ct/share and hence add up = >$1.
Remember that the NAV already includes the Swiber stake. And the Swiber stake was already revalued once for the IPO.
It is headed towards $1 now!
Hi,
Swissco's NAV is 49cts/share and their Swiber stake is 55cts/share.
This simply means that Swissco is at least worth $1. Which is why people are still putting their money into this counter at 91+ cts....
In addition, the BT's Hock Lock Siew section stated that Swissco is also an attractive take over/ M&A target...
Look like 8th May is an auspicious date for Swissco indeed..... :)
BT did a report on Swissco ..commenting on the stakes that they have in Swiber. Swissco is in a win win situation where they can either stand to gain $100 mil if they sell of their entire stake in Swiber or continue to ride on the success of Swiber...
This share will continue to ride and many shareholders are hanging on to their share awaiting the outcome of May 8th!...
Congrats to all those who had faith in this share and for those wanting.. it's still not too late...
gonna accumulate more when the price dips..now too much spotlight..
I missed out in this one.... But still very happy that Ferrochina continued to cheong again today...
My prediction spot on!!!! Sailing to Iran!!!!!
Swissco should head towards 90c
So that's why Swiber went up so much in this two days? Does this explain when Swissco can sell Swiber shares after 8th May they can enjoy a higher profit?
hi all,
Swissco is still one of the few undervalued offshore & marine counters in the market. It's peers like Ezra for example is already trading at 5+ times book value while Swissco is trading on at 1.8 to 1.9 times book value.
In addition, based on the Business Times article on the O&M sector dated 24/4/07 yesterday, they singled out Swissco and indicated that Swissco's 14.9% stake in Swiber is now worth $95 million (i.e. swiber stake is worth 55 cts per Swissco share !!!). On 8th of May, Swissco's agreement with Swiber will expire and they can start to sell off their Swiber shares.
This means we have only 2 more weeks left to collect this counter. The good news is that broking houses are still advising their clients to buy Swissco even at the 80+cts level.
BETTER ACT FAST AS EARLY BIRDS CATCHES THE WORM. I've already acted swiftly, have you? :)
another O&M counter to look out for is CH offshore...also going to chiong soon.
It is ok to sell off the "stuck" counters and consolidate your capital into Swiber. In effect it is the same
one of my khaki "tips" me off to buy Swiber@ 1.6+ few days back and told me target price will go up to $2..What a miss ..didn't buy due to stuck with too many counters.....
All the way to "Iran"!
It continues its journey to "Iran" ......
It is still sailing. Slow and steady
Swissco now .775.
In the morning both Swissco & Swiber were falling but now it fought back and edge up.
I made a mistake here and should have bought Swiber instead