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Suggest NOL to invite the former staff, Mr Goh C T or Mr Lim B H to steer the company, release the 3 stars general to go back to army camp. By doing this, hope the company can make profit.
=.= first time earn real OPERATING money*** but still not moving
***Previously money was from selling headquarter lol
wait4opp ( Date: 31-Oct-2013 10:18) Posted:
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Neptune Orient Lines: Disappoint Peak Season Hold, $1.06 - TP $1.01
NOL SP | Mkt Cap USD2.2b | ADTV USD3.0m
Ø NOL reported 3QFY13 net profit of USD20m (2QFY13: -USD35m, 3QFY12: +USD50m). While staying profitable was commendable under the challenging business environment, we note that its bottom line was artificially lifted by an USD33.9m foreign exchange gain.
Ø As indicated by the spot driven Shanghai Containerized Freight Index (SCFI), industry rates are now comparable to levels reached in 4QFY11, which is a quarter when NOL reported huge losses of USD320m. With continued CAPEX spending and sustained pressure on margins, we forecast increasing leverage and expect NOL to end FY14E with a net gearing of 1.8x. Hence, we believe that NOL will suspend dividend payments for the next two years and do not rule out a round of fundraising to shore up its weakened balance sheet.
Ø We cut our earnings forecast to reflect the weak rate environment and project another year of losses in FY14. We roll forward our valuation basis and derive our TP of SGD1.01 based on 1.0x FY14E BVPS. Maintain Hold.
Hedge Fund is targeting this counter.
Too bad when they are targeting this counter with expectation that the results under market expectation.
Take care....Good luck if you still vested.
My view
why no increase :(
NOL released 3Q13 results which were below estimates. Net profit came in at US$20m (-60% y/y and versus a net loss of US$35m q/q), although this was boosted largely by a US$32m worth of forex gains. Without the one-off gain, 3Q13 would have been a loss making quarter, driven by a 5% decline in trade volume and 9% contraction in rates, with revenue coming in at US$2.1b (-10% y/y, -0.1% q/q)
While the industry managed to push through a decent amount of peak season rate hike in 3Q13, spot rates have declined sharply in recent weeks post peak season, with rates on the Shanghai Containerized Freight Index (SCFI) now comparable to levels reached in 4Q11, which was a quarter when NOL reported huge losses of US$320m. Due to the cash outlay to fund its ongoing fleet renewal, Maybank-KE estimates that NOL?s net gearing level could reach a high of 1.6x at the end of the quarter, with continued CAPEX spending and sustained pressure on margins. As such the house expects a further increase in leverage, and for NOL to end FY14E with a net gearing of 1.8x. Hence, the house believes that NOL could suspend dividend payments for the next two years and do not rule out a round of fundraising to shore up its weakened balance sheet. Overall, Maybank-KE cut its earnings forecast to reflect the weak rate environment and project another year of losses for NOL in FY14, noting that while ongoing cost cutting initiatives by NOL will lower average slot cost, expected depressed freight rates will likely keep profitability in check.
Latest broker ratings as follows: Maybank-KE maintains Hold with TP $1.01 Deutsche maintains Hold with TP $1.03 CIMB upgrades to Neutral from U/p with TP $1.16 UOB Kay Hian maintains Buy with TP $1.30 CS maintains U/p with TP $0.95
Ah Chai - Singapore ship steady one -
Only PM down grade to sampan - and when questioned say Sampan 2.0 -
Actually German says - actually a Cruise Ship.
NOL like Singapore like Costa Victoria
Heero78 ( Date: 31-Oct-2013 09:06) Posted:
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gone case this counter. sigh.....
NOL will touch 1.04.
If break will go down to 1.00
Beware....and be careful to this counter.
No. The company don't usually give dividends in Q3.
oldbirdy ( Date: 30-Oct-2013 20:58) Posted:
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Most important is wat was the expectation .... From wat I read ... Many was expecting a loss ... And the share price too .. At almost 52 wks low ...
Any dividend?
nol row row row ur boat
It's a matter of time. Profit already assure people's confident in this counter.
Heero78 ( Date: 30-Oct-2013 20:51) Posted:
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hope will cheong but i think most probably just move a bit
Juding from the terrified tone from his last posting, I think he really throw everything already. =.=
Hawkeye ( Date: 30-Oct-2013 20:31) Posted:
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Wait4opp can come out of cover NOL is above water liao.
No need run road liao, Sail in water liao. Ha Ha Ha.
So making money right?
Rosesyrup ( Date: 30-Oct-2013 20:23) Posted:
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Wait4opp should be regretting his decision to run earlier on. lol.
sgng123 ( Date: 30-Oct-2013 20:19) Posted:
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those analysis report on container business in peak are too optimistic lol, weak global economy = low rate no matter how much carrier jack up rate. customer don want to pay also lan lan. but I seeing the fleet renewal program for nol reaping rewards, increasing capacity still can make 20mil, when most of the charter go back to owners, should see more cost saving in term of reduced oil usuage and less operating cost.
No 3 dollars no sell! Last quarter profit already confirm the amount and period of future values of the company. Thus BBs are expected to start coming in. Many more room to go up one. We undertook the risk of losing capital, and now we deserve better!!!
Rosesyrup ( Date: 30-Oct-2013 20:11) Posted:
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