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Some view from the experts:
1. Building momentum, construction demand set to top S$ 24 billion in 2011/12. DBS Vickers believe that top of the beneficianies is Yongnam, currently undervalued. Yongnam is bidding more than S$1.3 billion worth of projects in 2011. "We believe that they could win at least 35 % to 40% of these jobs.", DBS says is report dated Dec 1. It means approx S$ 455 to 520 million worth of contracts ! Indeed the market is talking of a large contract win in Hong Kong. Yongnam has an order book of S$ 450 million. DBS forecasts EPS growth of 33% in FY 2010 to 4.3 cents and 8% in FY 2011 to 4.7 cents.
2. The stock last traded at 29 cents giving a forward PER of just 6.2 times for FY 2011. DBS has a price target of 47 cents based on PER of 10 time of FY 2011 earnings.
3. At 29 cents, it is approaching resistance. A successful break above this level would indicate a target of 36 cents.
4. With PM Lee's speech of S$ 60 billion worth of infrastructrure projects in next 10 years, there will be construction boom in Singapore. DBS Vickers' views that Yongnam owns one of the larget steel fabrication facilities in Southeast Asia and is a key contractor for structural steel works in building and construction and underground road and rail works. Yongnam has said that is is pursuing contracts both locally including the Sports Hub and overseas such as airport terminal and trains.
5. Assuming growth of 15%, Yongnam should be worth 15 x 4.7 PER approx 70.5 cents. It achieved more than 50 cents in the bull run in 2007.
test test, dead cross is formed? chiong chiong~~
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asia market all negative..... better sell and wait again.
^AORD
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All Ordinaries |
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Shanghai Composite |
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Hang Seng |
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BSE 30 |
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NZSE 50 |
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Straits Times |
3,148.52 11:08 |
1.32 (0.04%) |
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Seoul Composite |
2,010.62 10:51 |
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Taiwan Weighted |
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bishan22 ( Date: 16-Dec-2010 10:28) Posted:
Used to bot at 0.20 plus. At 0.30 plus, quite risky and not much meat to eat.  |
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I think it's good that it consolidate around this region between 0.29-0.30. Hopefully the next push will break the 0.32 resistance. Be patient.
Used to bot at 0.20 plus. At 0.30 plus, quite risky and not much meat to eat.
be careful: singapore market is very small affected by regional exchange:
| ^AORD |
All Ordinaries |
4,859.80 09:58 SGT |
6.40 (0.13%) |
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| ^SSEC |
Shanghai Composite |
2,914.18 10:03 SGT |
2.76 (0.09%) |
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| ^HSI |
Hang Seng |
22,949.13 10:03 SGT |
26.22 (0.11%) |
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| ^BSESN |
BSE 30 |
19,647.77 15 Dec 18:29 SGT |
0.00 (0.00%) |
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| ^JKSE |
Jakarta Composite |
3,658.31 09:05 SGT |
0.00 (0.00%) |
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| ^KLSE |
KLSE Composite |
1,500.75 10:18 SGT |
8.35 (0.55%) |
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| ^N225 |
Nikkei 225 |
10,311.82 09:58 SGT |
2.04 (0.02%) |
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| ^NZ50 |
NZSE 50 |
3,296.46 09:56 SGT |
1.47 (0.04%) |
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| ^STI |
Straits Times |
3,156.11 10:16 |
8.91 (0.28%) |
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| ^KS11 |
Seoul Composite |
2,017.05 09:58 SGT |
0.43 (0.02%) |
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| ^TWII |
Taiwan Weighted |
8,791.21 09:58 SGT |
34.50 (0.39%) |
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slimerlth ( Date: 16-Dec-2010 10:16) Posted:
| structural steel chiong~~~SG economy boost~~~ |
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structural steel chiong~~~SG economy boost~~~
Is always good to take profit.
0.31 sell~~~
congratulation, any price above 0.305 sell.
New123 ( Date: 07-Dec-2010 15:50) Posted:
Looking good that it may move up from the current price of 28.5 - 29 cents soon..
YongNam |
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0.30 now, up up trend? will she give out dividend?
Finally this gem is moving upwards.
Looking good that it may move up from the current price of 28.5 - 29 cents soon..
YongNam
0.25 is the best entry.
New123 ( Date: 01-Dec-2010 13:26) Posted:
I think can consider around 25.5 - 26 cents. It may win more contracts later on.
Yong Nam |
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I think can consider around 25.5 - 26 cents. It may win more contracts later on.
Yong Nam
dicey ? what is dicey ?
iPunter ( Date: 21-Nov-2010 18:24) Posted:
This stock is in a precarious stage now...
The price has come down cover the big up gap...
But it has now gone even beyond the gap...
Thus holding on may be a bit dicey. 
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personal experience, bought yongnam around 0.27 and 0.275 range and sold it at 0.305......or 0.310 range..... forget it already.....
that is around time when it annoucement mrt project in singapore downtown line.
New123 ( Date: 22-Oct-2010 14:25) Posted:
Is heading south liao. Have to be careful..
YongNam |
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Technically doesn't look good at this moment. I think it will be good to look at around 26 - 26.5 cents level...
YongNam
DBS Vickers Securities (Nov 11 2010) set price target of S$ 0.47 (10 x FY 2011 earnings). Need to have some patience to reap the benefits of penny stocks which are fundamentally strong: 3 great reasons for Yongnam to advance within next 8 mths :
1. EPS of 4 cents. It means that 15 % growth, it will be worth 60 cents.
2. Very strong order book of S$ 460 million. Likely to clinch more contracts in the next 1 year: Downtown Line 3 MRT contracts, Sports Hub, India, Middle East and Hong Kong are some of the projects under tender. With strong strong growth and adding new population, government is embarking on S$ 60 billion infrastructure project in next 10 years, which means S$ 6 billion per year. If you look at the Yongnam report, Yongnam is the largest structural steel contractor in Singapore and the nearest rival is only 1/5 the size.
3. Quantitative Easing 2 (QE2) is activated now. US$ 600 billion of hot money for next 8 months will flow into emerging market and Singapore will be receiving these funds. Imaging US$ 75 billion/mth money making the way to buoyant stock market in the world. Bearing any unforeseen happenings, the STI is likely to breach 4000 points soon, based on past 30 years, the bull run in 47 out of 50 times, it will break its previous peak and surpass it. With the help of hot funds, it is likely to breach in 2011. Normally, the big caps will run up first, followed by the middle cap then the penny stocks like Yongnam. Be sure to catch the matured bull in 2011 !
This stock is in a precarious stage now...
The price has come down cover the big up gap...
But it has now gone even beyond the gap...
Thus holding on may be a bit dicey.
