Friday, March 31, 2017
Chart[43] - Singpost
The counter showed sign of reversing from recent downfall. Last trading saw it breaking resistant ~ 1.35. Buying volume was not significant although higher than previous day. Downfall could have pause with support ~ 1.315. Shall buying strength persists, price could head towards next resistance ~ 1.41. There is a trading gap between 1.41 to 1.46 which is looking forward to be filled.
Apr[2] - Market Updates
Crude Oil:
Crude oil saw strong rebound last week. An upward triangle formation could be seen from the its price movement since last year May. Strong resistance ~ 54.5, but downside risk is limited as well.
Market Calendar on coming week:
(SG: Singapore; CH: China; UK: United Kingdom; US: USA; JP: Japan)
Crude oil saw strong rebound last week. An upward triangle formation could be seen from the its price movement since last year May. Strong resistance ~ 54.5, but downside risk is limited as well.
Market Calendar on coming week:
(SG: Singapore; CH: China; UK: United Kingdom; US: USA; JP: Japan)
Apr[1] - CSE Global (Proxy to oil&gas, infrastructure and mining)
COUNTER: CSE GLOBAL LTD
OVERVIEW:
In 1985, CSE commenced as a engineering project division of Chartered Electronics Industries, the electronics arm of Singapore Technologies (ST). It formed company in 1997 and listed in SGX two years later. Throughout a series of acquisition, it has transformed itself to be global organization with over 1300 employees worldwide, such as US, Australia, China and India.
CSE offered integrated solutions to industries in Automation, Telecommunications and Environmental sectors. Recognized as one of the market leaders, it provides SCADA (Supervisory Control & Data Acquisition) systems to a wide range of industries, such as fire alarm, offshore, etc.
HIGHLIGHTS:
[1] FY2016 saw revenue and profit down 23% and 32$ year on year. However, net cash generated from operating activities up 34%. Gross margin improved 10% as well.
[2] Its earning is contributed by oil&gas, infrastructure and mining segments from worldwide region.
[3] Borrowing of 20m can be fully paid by cash. It shall be debt free after one year.
INVESTMENT THEMES:
[1] Earning per shares - 0.041 || Book Value - 0.487 || Dividend per shares ~ 0.0275
Last trading price, 0.53 translates to PE ~ 13, PB~ 1.1, dividend ~ 5.2%. Management indicated that earning and dividend payout for FY2017 shall be same as FY2016.
[2] Management expects weaker performance on 1Q2017, due to delay in projects awarded. However, a turnaround could be seen on following quarters. From the revenue trend below, it could be see mining segment in growing phase. Infrastructure segment is stable while oil&gas could have seen the bottom.
[3] On 10 Mar, the group won two deep water offshore projects (executed in Gulf of Mexico) valued at USD30m. In Singapore, it is one of the suppliers to NCS-MHI consortium that won $556m ERP 2 contract awarded by the Land Transport Authority (LTA)
[4] A strong balance sheet (70m net cash) has sustained the group throughout last year oil crisis. It also allow the group to seek more business opportunity ahead.
PRICE TREND:
Following announcement of new projects awarded on 10 Mar, the counter saw strong buying volume. 0.55 is immediate resistance. Price under consolidation phase meantime.
*** Note: Same counter has been mentioned in Mar[5] 2016 ***
OVERVIEW:
In 1985, CSE commenced as a engineering project division of Chartered Electronics Industries, the electronics arm of Singapore Technologies (ST). It formed company in 1997 and listed in SGX two years later. Throughout a series of acquisition, it has transformed itself to be global organization with over 1300 employees worldwide, such as US, Australia, China and India.
CSE offered integrated solutions to industries in Automation, Telecommunications and Environmental sectors. Recognized as one of the market leaders, it provides SCADA (Supervisory Control & Data Acquisition) systems to a wide range of industries, such as fire alarm, offshore, etc.
HIGHLIGHTS:
[1] FY2016 saw revenue and profit down 23% and 32$ year on year. However, net cash generated from operating activities up 34%. Gross margin improved 10% as well.
[2] Its earning is contributed by oil&gas, infrastructure and mining segments from worldwide region.
[3] Borrowing of 20m can be fully paid by cash. It shall be debt free after one year.
INVESTMENT THEMES:
[1] Earning per shares - 0.041 || Book Value - 0.487 || Dividend per shares ~ 0.0275
Last trading price, 0.53 translates to PE ~ 13, PB~ 1.1, dividend ~ 5.2%. Management indicated that earning and dividend payout for FY2017 shall be same as FY2016.
[2] Management expects weaker performance on 1Q2017, due to delay in projects awarded. However, a turnaround could be seen on following quarters. From the revenue trend below, it could be see mining segment in growing phase. Infrastructure segment is stable while oil&gas could have seen the bottom.
[3] On 10 Mar, the group won two deep water offshore projects (executed in Gulf of Mexico) valued at USD30m. In Singapore, it is one of the suppliers to NCS-MHI consortium that won $556m ERP 2 contract awarded by the Land Transport Authority (LTA)
[4] A strong balance sheet (70m net cash) has sustained the group throughout last year oil crisis. It also allow the group to seek more business opportunity ahead.
PRICE TREND:
Following announcement of new projects awarded on 10 Mar, the counter saw strong buying volume. 0.55 is immediate resistance. Price under consolidation phase meantime.
*** Note: Same counter has been mentioned in Mar[5] 2016 ***
Friday, March 24, 2017
Chart[42] - Spackman
The counter rebounded from support 0.154 with significant volume. Immediate resistance is ~ 0.169. Shall buying interest continue, it shall head towards next resistance 0.191.
Mar[8] - Market Updates
US:
DOW JONE experienced its first daily downfall > 1% last trading week. It could be first bearish month since Trump won election last year, shall current trend persist. As market is coming near to May, recent correction reminded about an old saying, "SELL on MAY". The bull might need to rest a while before breaking new high.
Market Calendar on coming week:
(SG: Singapore; CH: China; UK: United Kingdom; US: USA; JP: Japan)
DOW JONE experienced its first daily downfall > 1% last trading week. It could be first bearish month since Trump won election last year, shall current trend persist. As market is coming near to May, recent correction reminded about an old saying, "SELL on MAY". The bull might need to rest a while before breaking new high.
Market Calendar on coming week:
(SG: Singapore; CH: China; UK: United Kingdom; US: USA; JP: Japan)
Mar[7] - Bukit Sembawang (Chase after land bank)
COUNTER: BUKIT SEMBAWANG ESTATE LIMITED
OVERVIEW:
Incorporated in 1967, the group is one of the pioneer property developers in Singapore. The principal activities are property development and investment. Over half a century, it has built many Singapore's renowned and established residential developments comprising landed homes, private condominiums and apartments, such as Skylines, Luxus Hills, etc.
HIGHLIGHTS:
[1] Latest results saw last 9 months gross profit down 23% year on year, due to lower sales revenue.
[2] Upcoming properties includes St Thomas Walk, Paterson Collection, Watercove, and Luxus Hills Phase 8.
[3] Holding cash ~ $383m, without borrowing, so gearing is 0
INVESTMENT THEMES:
[1] 9M2017 earning per shares - 0.27 || Book Value - 4.92 || Dividend per shares ~ 0.33
Last trading price, 6.06 translates to PE ~ 17, PB~ 1.2, dividend ~ 5.5%. In fact the dividend yield is one of the highest among developer.
[2] Property counters caught attention of market following recent privatization trend as well as tweak in property cooling measure.
http://www.straitstimes.com/business/property/all-abuzz-over-landlord-king-as-shares-jump-8
http://www.straitstimes.com/business/property/cooling-measure-tweaks-could-inject-some-optimism
PRICE TREND:
The counter saw surging buying volume on early March. Price entered correction phase meantime. Dividend yield is attractive > 5.2% at price below 6.4. Shall buying interest continue, the counter could try to break up from 6.4 again.
OVERVIEW:
Incorporated in 1967, the group is one of the pioneer property developers in Singapore. The principal activities are property development and investment. Over half a century, it has built many Singapore's renowned and established residential developments comprising landed homes, private condominiums and apartments, such as Skylines, Luxus Hills, etc.
HIGHLIGHTS:
[1] Latest results saw last 9 months gross profit down 23% year on year, due to lower sales revenue.
[2] Upcoming properties includes St Thomas Walk, Paterson Collection, Watercove, and Luxus Hills Phase 8.
[3] Holding cash ~ $383m, without borrowing, so gearing is 0
INVESTMENT THEMES:
[1] 9M2017 earning per shares - 0.27 || Book Value - 4.92 || Dividend per shares ~ 0.33
Last trading price, 6.06 translates to PE ~ 17, PB~ 1.2, dividend ~ 5.5%. In fact the dividend yield is one of the highest among developer.
[2] Property counters caught attention of market following recent privatization trend as well as tweak in property cooling measure.
http://www.straitstimes.com/business/property/all-abuzz-over-landlord-king-as-shares-jump-8
http://www.straitstimes.com/business/property/cooling-measure-tweaks-could-inject-some-optimism
PRICE TREND:
The counter saw surging buying volume on early March. Price entered correction phase meantime. Dividend yield is attractive > 5.2% at price below 6.4. Shall buying interest continue, the counter could try to break up from 6.4 again.
Saturday, March 18, 2017
Chart[41] - Starhill Global REIT
The first chart (daily) shows strong buying volume for the counter on
last trading day. Price rebounded from support ~ 0.73. Zooming into
second chart (10min), volume surged to 11m only on last ten minute.
Shall buying interest continue, price could bounce to the ceiling ~
0.775. The counter has been range bouncing for past four months.
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