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CSC set to fly

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jackjames
    11-Jan-2007 11:53  
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bengbros, i didn't predict that.. by the way, I am not vested.. will be interest if it is 0.21
 
 
hughsh2004
    11-Jan-2007 11:13  
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.. snapshot of CSC time & sales:

Time Type Last Done Change Volume ('000)
Total Change
11:11:24 Buy Up 0.265 0.000 5.0 -30.0
11:10:16 Sell Down 0.265 0.000 35.0 25.0
11:10:07 Sell Down 0.265 0.000 10.0 0.0
11:09:29 Sell Down 0.265 0.000 10.0 -40.0
11:08:28 Sell Down 0.265 0.000 50.0 -5.0
11:08:10 Sell Down 0.265 0.000 55.0 51.0
11:06:30 Sell Down 0.265 0.000 4.0 -106.0
11:06:27 Buy Up 0.265 0.000 110.0 10.0
11:05:30 Buy Up 0.265 0.000 100.0 60.0
11:04:20 Buy Up 0.265 0.000 40.0 36.0
11:03:03 Buy Up 0.265 0.000 4.0 -16.0
11:03:00 Buy Up 0.265 0.000 20.0 -180.0
11:02:53 Buy Up 0.265 0.000 200.0 190.0
11:00:13 Buy Up 0.265 0.000 10.0 -40.0
10:58:15 Buy Up 0.265 0.000 50.0 20.0
10:57:50 Buy Up 0.265 0.000 30.0 -20.0
10:56:53 Buy Up 0.265 0.000 50.0 10.0
10:56:34 Buy Up 0.265 0.000 40.0 30.0
10:55:09 Buy Up 0.265 0.000 10.0 -20.0
10:52:46 Buy Up 0.265 0.000 30.0 20.0
10:52:09 Buy Up 0.265 0.000 10.0 -24.0
10:51:47 Buy Up 0.265 0.000 34.0 -66.0
10:51:42 Buy Up 0.265 0.000 100.0 87.0
10:48:51 Sell Down 0.265 0.000 13.0 -37.0
10:48:43 Sell Down 0.265 0.000 50.0 40.0
10:48:22 Sell Down 0.265 0.000 10.0 -20.0
10:48:20 Sell Down 0.265 0.000 30.0 10.0
10:48:12 Sell Down 0.265 0.000 20.0 0.0
10:47:38 Sell Down 0.265 0.000 20.0 -20.0
10:47:36 Sell Down 0.265 0.000 40.0 25.0
 
 
wait4opp
    11-Jan-2007 11:07  
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Better avoid this counter, as all the dump completed at 27cents, it will go down to 20 cents.....
 

 
bengbros
    11-Jan-2007 10:23  
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hi jackjames
you are predicting a second wave of heights for CSC?
 
 
bengbros
    11-Jan-2007 10:00  
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hi jackjames
you are predicting a second wave of heights for CSC?
 
 
ten4one
    11-Jan-2007 09:56  
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Pigs also can fly now....hahaha!
 

 
jackjames
    11-Jan-2007 09:16  
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second wave? cool..
 
 
wait4opp
    11-Jan-2007 08:52  
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Could it be this company did not selected for  Integrated Property Developers (IPD) that the price fall so fast......Tat Hong dump all the holding....

Better keep out this stock before it fall back to few cents again.....

Details of the Selected construction company as Integrated Property Developers:

The construction sector is looking very interesting from a few perspectives.  Seven consecutive years of activity decline has led to a shake-out of the weaker players while those who had stayed have reinvented themselves to become stronger than ever.  Some of the survivors have diversified into property development and other related activities and have been transformed into fast-growing companies.  Three dynamics of change have given us reason to be positive on the outlook for the companies in the sector:

a)         Uptrend in construction activity.  Besides the deluge of projects in residential property, there are large-scale projects that will drive activity in the sector, including the upcoming integrated resorts (IRs), Business & Financial Centre (BFC) and Orchard Road development projects.  This will keep construction activity buzzing for the next few years.

b)         Successful transformation into developers.  Many construction companies have transformed themselves into Integrated Property Developers (IPDs), integrating their core competence in construction with the very closely related field of property development.  These IPDs have been more successful than their pure construction peers, making their mark as more efficient property developer companies and enjoying higher ROEs.

c)         Successful manager-entrepreneurs behind these companies.  The successful makeover of these companies have enabled them to weather the prolonged decline in construction activity.  However, being some of the most active construction companies in recent years, they will be key beneficiaries as the industry starts to pick up.

Our selection of five construction stocks features companies that have experienced these trends.  Among these are Chip Eng Seng, Sim Lian, SoilBuild and Low Keng Huat, four successful IPDs with good quality management/entrepreneurs behind them.  UE is the only purer construction/engineering company in our stock selection list.

Chip Eng Seng (BUY/S$0.375/Target: S$0.43).  Overall most active general contractor.  Most active in private residential and Housing and Development Board (HDB) residential projects.  Has transformed itself into an IPD by partnering large foreign funds. Key projects: Unnamed project at Devonshire, Venturo (Balmoral).

Low Keng Huat (BUY/S$1.19/Target: S$2.04).  Historically the most active general contractor in the commercial segment.  Has transformed itself into an IPD through partnerships with other property developers.  Strong balance sheet with no long-term debt.  Key projects: Domain 21 (Delta), Regency Suites (Kim Tian).

Sim Lian Group (HOLD/S$0.45).  Third most active contractor in the private residential and HDB residential segments.  Distinguishes itself as the first mover into the Design, Build and Sell Scheme (DBSS) HDB scheme.  Key projects: Viz (Holland), Lincolnsvale (Surrey).
 
Soilbuild Group Holdings (HOLD/S$0.77).  Successful IPD transformation through tight financial management and strong integrated design and build capabilities.  Key project: One Tree Hill (Grange), Leonie Parc View (Leonie Hill).

United Engineers (BUY/S$2.59/Target: S$3.42).  Overall second most active general contractor with strength in both private residential and public residential projects.  Carving itself a niche in specialised engineering services and as an IPD through Public Private Partnership (PPD) projects.  Key project: One-North (Buona Vista).



Click on the link for details.




http://research.uobkayhian.com/research/content.show.action?filename=2007010919062156845069533.pdf
 
 
bengbros
    11-Jan-2007 01:37  
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Hi All, Brendon here. Am new to this forum, was searching for info on CSC and i got this site. Am surprise by the info support provided by u guys and gals. Well, without guessing, i have bought some shares on CSC as well. Was hoping to profit from it but now seems to be heading for a loss. Unless trading on 11-jan can improve. Good lucks to all..

PS: i am a beginner trader as well. pls advise me along the way. thks.
 
 
frankauerbach
    10-Jan-2007 23:30  
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Can some guru or expert please please tell me whether to hold CSC or throw it out. Are its contracts for the IR and other projects making any headway?
 

 
hughsh2004
    10-Jan-2007 15:15  
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CSC posted announcement http://info.sgx.com/webcorannc.nsf/ef3ba6cb188613ea482571b2003641d3/1dbf8f9a3f58937f4825725f0018b9a6?OpenDocument

TH (Tat Hong) reduces stakes in CSC , citing reason"...The cessation of interest is a result of a series of open market transactions  .." think more px correction for CSC soon..

 
 
dfusion
    10-Jan-2007 14:43  
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Got this from POEMS:

    14:09       RPT Singapore's Tat Hong unit sets up China jv, divests CSC Holdings


what will this means?
 
 
hughsh2004
    10-Jan-2007 10:29  
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Time & sales for CSC

Time Type Last Done Change Volume ('000)
Total Change
10:25:26 Buy Up 0.255 0.000 225.0 185.0
10:25:25 Buy Up 0.255 0.000 40.0 -1255.0
10:25:24 Buy Up 0.255 0.000 1,295.0 1265.0
10:25:24 Buy Up 0.255 0.000 30.0 25.0
10:25:00 Buy Up 0.255 0.000 5.0 -10.0
10:24:44 Buy Up 0.255 0.000 15.0 -15.0
10:24:26 Buy Up 0.255 0.000 30.0 0.0
10:24:23 Buy Up 0.255 0.000 30.0 25.0
10:24:05 Buy Up 0.255 0.000 5.0 -5.0
10:24:00 Buy Up 0.255 0.005 10.0 -23.0
10:23:50 Sell Down 0.250 -0.005 33.0 13.0
10:23:40 Buy Up 0.255 0.000 20.0 0.0
10:23:21 Buy Up 0.255 0.000 20.0 -80.0
10:23:14 Buy Up 0.255 0.000 100.0 0.0
10:23:09 Buy Up 0.255 0.000 100.0 0.0
10:22:59 Buy Up 0.255 0.000 100.0 80.0
10:21:37 Buy Up 0.255 0.000 20.0 -480.0
10:21:22 Buy Up 0.255 0.005 500.0 400.0
10:20:03 Sell Down 0.250 0.000 100.0 50.0
10:19:29 Sell Down 0.250 -0.005 50.0 -150.0
10:19:18 Buy Up 0.255 0.000 200.0 195.0
10:17:57 Buy Up 0.255 0.005 5.0 -45.0
10:16:38 Sell Down 0.250 0.000 50.0 0.0
10:15:39 Sell Down 0.250 0.000 50.0 30.0
10:15:36 Sell Down 0.250 0.000 20.0 0.0
10:15:06 Sell Down 0.250 0.000 20.0 -20.0
10:14:44 Sell Down 0.250 0.000 40.0 0.0
10:14:36 Sell Down 0.250 0.000 40.0 35.0
10:14:20 Sell Down 0.250 0.000 5.0 -45.0
10:14:05 Sell Down 0.250 0.000 50.0 40.0


 
 
punter2006
    10-Jan-2007 10:10  
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Today a lot of contra counter and penny stock will be hit like CSC as market is weak.. beware 
 
 
jackjames
    10-Jan-2007 09:55  
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ooppss.. 0.235? the correction too huge gua...
 

 
frankauerbach
    10-Jan-2007 00:09  
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Bought 30 lots of CSC today at 27 cents. Am not sure whether to let go or let it fly...please advise...
 
 
ROI25per
    08-Jan-2007 17:03  
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what a day, 36.4% up, 128M shares traded



16:59:55 
0.3  30000 
16:59:52  0.3  100000 
16:59:51  0.3  18000 
16:59:45  0.3  50000 
16:59:39  0.3  10000 
16:59:39  0.3  30000 
16:59:33  0.3  20000 
16:59:30  0.3  20000
 
 
ROI25per
    08-Jan-2007 10:00  
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CSC Holdings (S$0.22) - Piling demand

Growth through acquisitions[CIMB]

Leading piling and foundation works specialist. CSC began in 1975 as Ching Soon

Engineering, undertaking excavation works and H-section steel piling works. In 1979, the

company diversified into reinforced concrete piling works and other general civil

engineering works. CSC was incorporated in 1997 as the holding company for the group

and was listed on the Singapore Exchange in April 1998.

CSC is now a leading specialist contractor in Singapore, specialising in the areas of

foundation and geotechnical engineering with strong design-and-build capability. Some

high profile foundation projects that were completed during FY03/06 include bored piling

for The Pinnacle @ Duxton and driven piling for oil storage tanks at Jurong Island.

Construction company Tat Hong (TAT SP, S$1.19, Neutral) and its related parties (the Tat

Hong group) became a major shareholder of CSC in 2005 through a general offer.

Following a series of transactions, the Tat Hong group now holds a collective stake of 52%

in CSC.CSC began in 1975 as Ching Soon

Engineering, undertaking excavation works and H-section steel piling works. In 1979, the

company diversified into reinforced concrete piling works and other general civil

engineering works. CSC was incorporated in 1997 as the holding company for the group

and was listed on the Singapore Exchange in April 1998.

CSC is now a leading specialist contractor in Singapore, specialising in the areas of

foundation and geotechnical engineering with strong design-and-build capability. Some

high profile foundation projects that were completed during FY03/06 include bored piling

for The Pinnacle @ Duxton and driven piling for oil storage tanks at Jurong Island.

Construction company Tat Hong (TAT SP, S$1.19, Neutral) and its related parties (the Tat

Hong group) became a major shareholder of CSC in 2005 through a general offer.

Following a series of transactions, the Tat Hong group now holds a collective stake of 52%

in CSC.

Two acquisitions to take CSC to the next level. CSC announced the acquisition of L&M

Foundation Specialist (L&MFS) for S$17.3m and the acquisition of G-Pile Sistem (G-Pile)

for a maximum RM27.5m in 2006. The purchase of L&MFS was completed in Nov 06 while

the purchase of G-Pile is still pending completion.

L&MFS is the profitable unit of LMI Group with a track record of 17 years in heavy

foundation piling. Besides being a major foundation and geotechnical engineering

specialist contractor in Singapore, L&MFS has significant presence in fast-growing

regional markets like Malaysia, Vietnam and the Philippines. As of Sep 06, L&MFS has an

order book of S$36.5m that will increase CSC?s order book by close to 70% from S$52.5m

to S$89m when combined.

G-Pile, on the other hand, provides high-capacity hydraulic jack-in piling services in

Malaysia and generated net profit of RM2.4m and revenue of RM44.1m in FY06/06. The

acquisition of G-Pile comes with an aggregate profit guarantee of RM7.6m for FY06/07

and FY06/08.

The acquisition of L&MFS and G-Pile will make CSC the biggest specialist foundation

engineering contractor in Singapore, as well as one of the largest in the region.CSC announced the acquisition of L&M

Foundation Specialist (L&MFS) for S$17.3m and the acquisition of G-Pile Sistem (G-Pile)

for a maximum RM27.5m in 2006. The purchase of L&MFS was completed in Nov 06 while

the purchase of G-Pile is still pending completion.

L&MFS is the profitable unit of LMI Group with a track record of 17 years in heavy

foundation piling. Besides being a major foundation and geotechnical engineering

specialist contractor in Singapore, L&MFS has significant presence in fast-growing

regional markets like Malaysia, Vietnam and the Philippines. As of Sep 06, L&MFS has an

order book of S$36.5m that will increase CSC?s order book by close to 70% from S$52.5m

to S$89m when combined.

G-Pile, on the other hand, provides high-capacity hydraulic jack-in piling services in

Malaysia and generated net profit of RM2.4m and revenue of RM44.1m in FY06/06. The

acquisition of G-Pile comes with an aggregate profit guarantee of RM7.6m for FY06/07

and FY06/08.

The acquisition of L&MFS and G-Pile will make CSC the biggest specialist foundation

engineering contractor in Singapore, as well as one of the largest in the region.

Poised to ride on construction boom. After several years of contraction, the

construction industry in Singapore is likely to have posed a strong turnaround in 2006 with

total construction demand estimated to be close to S$12bn. With the start of major projects

like the two integrated resorts, the Marina Bay Financial Centre (MBFC) and Orchard Turn,

as well as proposed petrochemical facilities on Jurong Island, the recovery of the

construction industry is gaining momentum. We understand that the foundation works for

one such mega project - the Marina Bay Integrated Resort, will be tendered out in three

phases, with the first phase scheduled to start work soon. The contracts are worth a total

of S$200-300m and CSC has confirmed that it will be bidding for these contracts.

Construction demand in Singapore is projected to rise to some S$13-15bn a year over the

next five years. As the largest foundation specialist contractor in Singapore following the

acquisitions, CSC is well-positioned to benefit from the recovering construction sector.

Earnings to more than double by FY03/08. CSC posted a net profit of S$3.8m or 0.4

Scts per share in FY03/06. Assuming that 1) results from both L&MFS and G-Pile are

consolidated for the full year of FY03/08, 2) L&MFS?s contribution to be S$2.9m (net profit

generated in FY09/06) and 3) G-Pile?s contribution to be S$1.9m (based on aggregate

profit guarantee of RM7.6m for FY06/07 and FY06/08), CSC?s total net profit could amount

to S$8.6m in FY03/08, even if its own earnings were to stay flat.

To partially finance the acquisition of G-Pile, CSC will issue S$3.2m worth of convertible

notes to the management vendors of the G-Pile shares. This means an additional 64m

CSC shares upon the conversion of these notes at the conversion price of 5 Scts a share.

Assuming the notes are issued at the start of FY03/08 and they are converted six months

later, CSC?s diluted EPS in FY03/08 would be 1 Sct, or more than twice what the group

achieved in FY03/06.CSC posted a net profit of S$3.8m or 0.4

Scts per share in FY03/06. Assuming that 1) results from both L&MFS and G-Pile are

consolidated for the full year of FY03/08, 2) L&MFS?s contribution to be S$2.9m (net profit

generated in FY09/06) and 3) G-Pile?s contribution to be S$1.9m (based on aggregate

profit guarantee of RM7.6m for FY06/07 and FY06/08), CSC?s total net profit could amount

to S$8.6m in FY03/08, even if its own earnings were to stay flat.

To partially finance the acquisition of G-Pile, CSC will issue S$3.2m worth of convertible

notes to the management vendors of the G-Pile shares. This means an additional 64m

CSC shares upon the conversion of these notes at the conversion price of 5 Scts a share.

Assuming the notes are issued at the start of FY03/08 and they are converted six months

later, CSC?s diluted EPS in FY03/08 would be 1 Sct, or more than twice what the group

achieved in FY03/06.

Share price could trade up to S$0.33. CSC traded at a P/BV multiple as high as 5.5x

during the 1998-1999 construction stocks up-cycle. Given the improved visibility and

robust growth in the next few years, we believe the market could ascribe a similarly rich

multiple to CSC?s stock. Based on a P/BV multiple of 5.5x and book value of 6 Scts as of

end-Sep 06, CSC?s share price could trade up to S$0.33. This translates into a FY03/08

P/E of 33x, based on our conservative FY03/08 EPS estimate of 1 Sct. While this is at a

premium to the average P/E of 26x that construction stocks in Singapore are trading at,

given CSC?s leadership position in the industry and robust growth going forward, we

believe the premium is reasonable.CSC traded at a P/BV multiple as high as 5.5x

during the 1998-1999 construction stocks up-cycle. Given the improved visibility and

robust growth in the next few years, we believe the market could ascribe a similarly rich

multiple to CSC?s stock. Based on a P/BV multiple of 5.5x and book value of 6 Scts as of

end-Sep 06, CSC?s share price could trade up to S$0.33. This translates into a FY03/08

P/E of 33x, based on our conservative FY03/08 EPS estimate of 1 Sct. While this is at a

premium to the average P/E of 26x that construction stocks in Singapore are trading at,

given CSC?s leadership position in the industry and robust growth going forward, we

believe the premium is reasonable.After several years of contraction, the

construction industry in Singapore is likely to have posed a strong turnaround in 2006 with

total construction demand estimated to be close to S$12bn. With the start of major projects

like the two integrated resorts, the Marina Bay Financial Centre (MBFC) and Orchard Turn,

as well as proposed petrochemical facilities on Jurong Island, the recovery of the

construction industry is gaining momentum. We understand that the foundation works for

one such mega project - the Marina Bay Integrated Resort, will be tendered out in three

phases, with the first phase scheduled to start work soon. The contracts are worth a total

of S$200-300m and CSC has confirmed that it will be bidding for these contracts.

Construction demand in Singapore is projected to rise to some S$13-15bn a year over the

next five years. As the largest foundation specialist contractor in Singapore following the

acquisitions, CSC is well-positioned to benefit from the recovering construction sector.

Earnings to more than double by FY03/08. CSC posted a net profit of S$3.8m or 0.4

Scts per share in FY03/06. Assuming that 1) results from both L&MFS and G-Pile are

consolidated for the full year of FY03/08, 2) L&MFS?s contribution to be S$2.9m (net profit

generated in FY09/06) and 3) G-Pile?s contribution to be S$1.9m (based on aggregate

profit guarantee of RM7.6m for FY06/07 and FY06/08), CSC?s total net profit could amount

to S$8.6m in FY03/08, even if its own earnings were to stay flat.

To partially finance the acquisition of G-Pile, CSC will issue S$3.2m worth of convertible

notes to the management vendors of the G-Pile shares. This means an additional 64m

CSC shares upon the conversion of these notes at the conversion price of 5 Scts a share.

Assuming the notes are issued at the start of FY03/08 and they are converted six months

later, CSC?s diluted EPS in FY03/08 would be 1 Sct, or more than twice what the group

achieved in FY03/06.CSC posted a net profit of S$3.8m or 0.4

Scts per share in FY03/06. Assuming that 1) results from both L&MFS and G-Pile are

consolidated for the full year of FY03/08, 2) L&MFS?s contribution to be S$2.9m (net profit

generated in FY09/06) and 3) G-Pile?s contribution to be S$1.9m (based on aggregate

profit guarantee of RM7.6m for FY06/07 and FY06/08), CSC?s total net profit could amount

to S$8.6m in FY03/08, even if its own earnings were to stay flat.

To partially finance the acquisition of G-Pile, CSC will issue S$3.2m worth of convertible

notes to the management vendors of the G-Pile shares. This means an additional 64m

CSC shares upon the conversion of these notes at the conversion price of 5 Scts a share.

Assuming the notes are issued at the start of FY03/08 and they are converted six months

later, CSC?s diluted EPS in FY03/08 would be 1 Sct, or more than twice what the group

achieved in FY03/06.

Share price could trade up to S$0.33. CSC traded at a P/BV multiple as high as 5.5x

during the 1998-1999 construction stocks up-cycle. Given the improved visibility and

robust growth in the next few years, we believe the market could ascribe a similarly rich

multiple to CSC?s stock. Based on a P/BV multiple of 5.5x and book value of 6 Scts as of

end-Sep 06, CSC?s share price could trade up to S$0.33. This translates into a FY03/08

P/E of 33x, based on our conservative FY03/08 EPS estimate of 1 Sct. While this is at a

premium to the average P/E of 26x that construction stocks in Singapore are trading at,

given CSC?s leadership position in the industry and robust growth going forward, we

believe the premium is reasonable.CSC traded at a P/BV multiple as high as 5.5x

during the 1998-1999 construction stocks up-cycle. Given the improved visibility and

robust growth in the next few years, we believe the market could ascribe a similarly rich

multiple to CSC?s stock. Based on a P/BV multiple of 5.5x and book value of 6 Scts as of

end-Sep 06, CSC?s share price could trade up to S$0.33. This translates into a FY03/08

P/E of 33x, based on our conservative FY03/08 EPS estimate of 1 Sct. While this is at a

premium to the average P/E of 26x that construction stocks in Singapore are trading at,

given CSC?s leadership position in the industry and robust growth going forward, we

believe the premium is reasonable.

 
 
ckleong
    03-Jan-2007 20:33  
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Didn't expect it to fly so fast? Still gd to catch, guru please advise? Thks
 
 
gpwl2006
    30-Dec-2006 12:04  
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After buying over L&M, it is the biggest piling company in singapore. With so many projects on hand, it will shoot up next year. Vested also..
 
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