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Opportunity for enrollment
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grandmaster89
Veteran |
19-Dec-2009 20:59
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The report was made in 2007. I had a laugh when I saw it. Who knew a year later the very same company will be suspended for fraud.
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gun4me
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19-Dec-2009 20:10
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Its under suspension now, how can it still go up to 1.52 |
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grandmaster89
Veteran |
19-Dec-2009 18:57
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HAHAHAHA DBS TARGET PRICE WAS $1.52 LOL!!!! If you can unload at 15 cent now, you must be super lucky!
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donaldduck
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15-May-2008 22:44
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something worth studying ? cash cow with about 20 cents cash per share. strong operating cashflows...zero debt... trading near all time low... cash pile either makes it an attractive acquisition target or positions it for potential merger/acquisition deals Commencement of Humen kindergarten operations should see profits growing |
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spurs88
Senior |
20-Jul-2007 11:09
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From DBSV this morning Story: 1H results in mid-Aug. Oriental Century (ORIC) is expected to announce their�� operations have been stable. The positive factor pertaining to education business is that revenue stream and costs are rather stable and predictable once student enrollment is secured. We understand that operations are very healthy. Point: We are not expecting any surprises in its 1H07 results as�� which we believe was possibly a spill over from some unrelated market news/sentiments. We believe this presents a good opportunity to accumulate the stock. Fundamentally, ORIC?s business is still strong and management has indicated that there was nothing contrary to this belief. Maintain BUY, TP: S$1.52 based on 25x FY08F earnings with cash of S$0.18/share. Relevance: This counter dipped by about 6.5% yesterday,1H07 results preview ? no surprises. 1H07 results announcement next month. We believe the Group should be delivering some growth, probably in the mid-single digit as there should be some expenses incurred in relation to the establishment of Humen Kindergarten prior to enrollment. In any case, as we have highlighted in our initiation note on 19 Apr, ORIC?s 2H results tends to be stronger than 1H as the academic year starts in September. We do not expect any surprises for itsHumen Kindergarten enrollment in progress. management that enrollment for its new kindergarten in Humen, Dongguan city, Guangdong Province, has begun and is progressing well. The school semester is expected to start in September. We understand fromRevenue stream in secured and predictable. education business is its predictable nature, i.e. there is continuity in its revenue stream for the year once student enrollment is secured. We understand from management that operations are progressing on track. One factor we like about theImpact of unrelated market news present good entry opportunity. Fundamentally, business is still strong and management has indicated that there is nothing contrary to this belief. There was an article in a Chinese financial magazine that the Chairman of Midas, Chen Weiping, had been detained by authorities for alleged corruption charges which Midas categorically denied. We believe this news caused some concern with regards to Raffles Education whose share price also dropped by about 5%. Chen Weiping was an ex-Executive Director of Raffles Ed whom had resigned from Raffles Ed?s Board of Directors sometime in 2003/04. Raffles Ed holds 21.4% of ORIC. We believed the market could have over-reacted to this news, which is unrelated to ORIC. We think this episode, while unfortunate and uncalled for, presents a good opportunity to accumulate.
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