

COSCO CORP ($0.955) - Prices have probably discounted the worst news with the stock's collapse last year. Since October, the counter has been in a multi-month sideways-consolidation range. The probability that this is a base formation is rising by the day.
The long-term annual momentum indicator has turned up, as has its weighted moving averages - a rare signal and the first time this has occurred in five years. ADX is rising on positives DIs. The daily and weekly Guppy multiple moving averages (GMMAs) are turning up. Volume is expanding on white-candle days.
Support has been established, first at 72cts and then at 83cts. Strong resistance remians at $1. If this can be successfully challenged, the minimum upside target is $1.50. The Baltic Dry Index rises 1% ,ends 22 day slide.The index is a measure of shipping costs for commodities rose for the first time in 22 datys as rate increased for capsize and panamic vessels that haul coal,iron ore and grains.This index also a measure of world trade routes surged 1% or 15 points to 1478points It ends the slongest slide since NOv 2008.
Besides singapore first quarter sharp contraction also means our economy has bottomed...we've seen the worst...most probably..Time to keep this for the long haul
787180 ( Date: 14-Apr-2009 10:12) Posted:
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Cosco institutionla in view of large mkt capitalisation and with dividend of $77 ex date on 28 April has convincingly cleared $1 mark...uptrend shd be positive after hitting a low of about 71.5cts in March this year.Just like NOL with cum dividend the NOL has soared to $1.40 after hitting low of 85cts also in March in view of rumoured rights issue
if u bought @ 50c.. ya doubled ya money today..
RICH BITCH..:)
hotstock ( Date: 20-Mar-2009 08:49) Posted:
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hotstock ( Date: 12-Mar-2009 13:13) Posted:
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hotstock ( Date: 27-Feb-2009 16:09) Posted:
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Please note that your dividend would not be able to cover your paper loss.
The counter would be battered together with the rest of s-shares. Now I am not even interest even if it comes down to below 70c (my target price for the past 3 months) I will not buy any. Same for my buddy of this counter. We feel that this counter is highly risky now especially we think it will go down to its book value of 52c.
We will come in again when it moves down to 45c. Good luck for those who still continue to support the counter at this level.
williamyeo ( Date: 23-Feb-2009 17:28) Posted:
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williamyeo ( Date: 23-Feb-2009 17:28) Posted:
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Cosco Corp Target Cut To S$0.36 From S$0.58 By CIMB.
I think I am kind enough to call it at 52c.
COSCO CORPORATION (SINGAPORE) LIMITED
9 Temasek Boulevard, #07-00 Suntec Tower Two, S038989
Tel: 68850888 Fax: 63369006
RCB REG NO: 196100159G
Press Release
FY2008 Results: Full-year ended 31 December 2008
Rising Up to Challenges
FY2008
FY2007 ChgS$’000 S$’000
Turnover
3,476,009 2,261,700 +54%Gross profit
630,134 610,193 +3%Pre-tax profit
451,388 498,073 -9%Net profit attributable to equity holders
302,588 336,568 -10%EPS (cents) - diluted
13.50 15.02 -10%Dividend per share
-
Ordinary first & final-
Special4.0
3.0
4.0
3.0
-
-
Highlights:
•
segments.
Group turnover jumped 54% on broad-based expansion across all business•
strong order book.
Ship repair, ship building and marine engineering turnover up 57% on•
rates locked in.
Dry bulk shipping turnover up 24% on high dry bulk shipping charter•
allowance for impairment of trade and other receivables and the higher
costs incurred in shipbuilding and offshore marine engineering projects.
Net profit attributable to equity holders of the Company fell 10% on•
long-term growth strategies.
Group will focus on cost management while cautiously implementing its2
SINGAPORE (23 February 2009)
COSCO Corporation (Singapore) Limited (“COSCO” or the “Company”), a leading
ship repair & marine engineering and shipping group, today announced the results for
the financial year ended 31 December 2008.
Group turnover jumped 54% to $3.5 billion driven by expansion of the ship repair, ship
building and marine engineering segment and stronger dry bulk shipping performance.
Turnover from the Group’s biggest revenue segment, ship repair, ship building and
marine engineering, grew 57% to $3.2 billion in FY2008 buoyed by strong ship
conversion and shipbuilding, and offshore marine engineering project order book. Dry
bulk shipping turnover rose 24% to $257.4 million in FY2008 lifted by higher charter
rates locked in on a one-plus-one year basis on charter renewal in the first half of 2008.
Gross profit rose 3% to $630.1 million in FY2008 lifted by higher turnover which more
than offset the higher operational costs in shipbuilding and offshore marine engineering
business.
In light of the adverse global economic climate, the Group made provisions for
impairment of trade and other receivables of $61.3 million as the shipping industry
faces deteriorating market conditions, and amidst requests for payment delays by
several ship owners.
As a result, net profit attributable to equity holders of the Company decreased 10% to
$302.6 million in FY2008.
The Group expects market conditions to remain challenging in 2009 as credit
conditions tighten and global trade slows down due to the global economic crisis. Its
contract flow and dry bulk charter rate are highly dependent on the overall pace of
recovery of the global economy and restoration of international trade.
Mr. Jiang Li Jun, Vice Chairman and President of the Company said, “Supported by the
sound business foundation we have built up over the years, we believe that our Group is
well-placed to ride out the current economic slump. To strengthen our competitiveness,
3
our Group will focus on cost management while cautiously implementing our longterm
growth strategies.”
The Group currently has an order book of US$7.3 billion for progressive delivery up to
2012 which will keep its shipyards busy. COSCO Guangdong and COSCO Dalian
shipyards had also begun to undertake new shipbuilding work in addition to COSCO
Zhousan shipyard. COSCO Nantong shipyard, which enjoys a strong surrounding
marine-supporting industry, remains as the Group’s premier shipyard in leading the
diversification of business into the offshore marine engineering, whose industry longterm
outlook are expected to remain fundamentally strong as the demand for oil are
expected to strengthen in the long term.
“Our Group will stay focused on improving our operational efficiencies by scaling the
technology-learning curve and leveraging on our land and labor comparative cost
advantage as we gains further experience and momentum in our diversified business.
Our Group will closely monitor our ongoing capital investment projects in light of the
challenging market developments and will continue to seek out opportunities to
strengthen our business position,” added Mr. Jiang.
– Singapore Exchange (“SGX”) mainboard-listedAbout COSCO Corporation (Singapore) Ltd
Listed on the main board of the SGX, COSCO Corporation (Singapore) Ltd (“COSCO”) is a
leading ship repair, shipbuilding & marine engineering and dry bulk shipping group. The Group
owns 51% of the largest shipyard group in China, COSCO Shipyard Group, and a fleet of 12
dry bulk carriers. It also operates shipping agencies. COSCO is the listed subsidiary of China
Ocean Shipping (Group) Company, the largest shipping group in China
.For further information, please contact:
Company:
COSCO Corporation (Singapore) Ltd
Mr. Li Jian Xiong
Vice President
Tel: 65-6885 0888 / Fax: 65-6336 9006
Email:
lijianxiong@cosco.com.sgIR Consultant to the Company:
SPIN Capital Asia
Mr. Michael Tan
Tel: 62277790 / Email: michael@spin.com.sg