Post Reply
21-40 of 159
the TA graph indeed show turing point should be 0.75 level, well, since it does not obey the analysis sometimes, they give you another 30% discount, i think the risk is lower.
but again, if the price stays the same at 0.545 level for another 3 days.. it will drop again.. because many people bought yesterday at 0.55-0.565.. they are going to dump the shares dude. but, i might be wrong.
Yeah. It is rather cheap and haven't moved! Share placement on jun 07 was at $0.96. So current price is reasonable.
i am eyeing on this counter too! this counter has not moved much yet.
Loaded. This counters should surge soon. Or cut lose if it drop below 50c.
Hi the volume looks high today and charts ; RSI, Stochastic, MACD looks promising..uptrend coming. Can the TA gurus out there reconfirm for me ?
Thanks,
I like Hiap Seng for its track record on growth and generous dividends. With an interim dividend of 2cts, dividend payout at the current price is already close to 4%..? Any final dividend will raise this rate.
Is there any chance companies like Hiap Seng can benefit from Neste Oil's latest investment in the biodiesel plant in Spore?
Don't have a good grip on the two industries so a wild guess, but there appears to be similarities to gas and oil construction activities.
Vested. And also disappointed at the current share price, but still hopeful..
I'm staying invested at the moment. I don't know nothing that is really that bad abt the company.
Do you ?
Hi all,
Hiap Seng seems to be in the oversold region:
As of 11/29,
- RSI < 30% for 15 days
- Stochastic < 20% for 17 days
- Accum/Dist seems to be on a downtrend
- Price have fallen below the 14, 25, and 50 days moving averages
- Parabolic SAR still on a downtrend
Also, based on the half year financial statement ended 30 Sep 2007, the NAV is 15.9 cents. (~3.2times based on 11/29 closing price of $0.515)
And the coming interim dividend of 2.0cents is likely to be a one-time event as the company is utilizing its expiring Section 44 tax credits.
The d/s oil & gas board market is good...but too many ppl got their hands burnt by this counter earlier and now adopting wait and see approach.
It's just unbelievable that the TP can be cut from 1.20 to .60 just overnight.
Make your own judgement. who knows what will happen next?
|
Hiap Seng Engineering Ltd |
KIM ENG KELIVE RESEARCH Singapore
Marine/Oil & Gas
28 November 2007 |
||||||
|
Still a Winning Bet |
BUY |
||||||
Hiap Seng Engineering?s (HSE) prospects continue to look positive despite its recently disappointing 1H08 results. The Compression division?s supply procurement procedures which gave rise to the cost over-runs in 1H08 have been amended to ensure that the same issues will not recur. Meanwhile, order book remains strong at S$210m. HSE?s S$55m Shell project is due to commence in 2H08. Both divisions continue to receive strong enquiries; HSE expects the enquiries to translate into more orders. It is bidding for over S$200m worth of orders from the Jurong Island projects and is optimistic about securing a proportion of the bids. The sector?s prospects continue to look bright: Shell is building a US$3bn petrochemical cracker in Singapore and ExxonMobil also plans to add another cracker unit to the current one. A total of US$6-8bn in capex is expected to be injected into the Singapore oil refinery sector over the next few years. Singapore?s Economic Development Board is revving up its Jurong Island initiatives which could see the island?s present 60-70 plants increase to 150 in the medium term. HSE?s timely acquisition of L&M?s former precast yard (600,000 sq ft) in late 2006 effectively doubles its domestic capacity. In addition, it has formed strategic alliances with Chinese oil majors CNOOC and CNPC to penetrate the Chinese market, where we expect to see downstream spending increase over the next couple of years. With its new added capacity, HSE believes it can handle up to S$400m worth of orders annually (compared to S$110m in revenue achieved in FY06). HSE?s re-activated unit serves upstream & downstream players and has been ramping up strongly with contributions of S$62m in FY07 (versus S$12m in the previous year). We believe that Hiap Seng, like Rotary, is a beneficiary of Singapore?s downstream oil & gas sector, which is expected to be one of Singapore?s key economic growth drivers over the next couple of years. Currently, it trades at earning multiples of 20.0x for FY08 and 12.3x for FY09. We are maintaining our target price of S$0.90 which is based on an ex-cash multiple of 15.0x FY09 PE (0.6x PEG). Reiterate BUY. |
|||||||
|
Company Visit Note |
|||||||
|
Analyst: |
|||||||
|
Sebastian HENG |
|||||||
|
sebastianheng@kimeng.com |
|||||||
|
(65) 6432 1858 |
|||||||
|
Price |
$0.515 |
||||||
|
Target |
$0.90 |
||||||
|
ST Index |
3,372.64 |
||||||
|
Historical Chart |
|||||||
|
Performance |
1m |
3m |
6m |
||||
|
Absolute (%) |
-35.2 |
-38.7 |
-39.1 |
||||
|
Relative (%) |
-10.6 |
0.9 |
-4.0 |
||||
|
Stock Information |
|||||||
|
Ticker code |
HSEN.SI |
||||||
|
HSE.SP |
|||||||
|
Market Cap (US$m) |
108.5 |
||||||
|
52-week high ($) |
1.22 |
||||||
|
52-week low ($) |
0.38 |
||||||
|
Shares issued (m) |
303.8 |
||||||
|
6m avg. daily vol (US$m) |
1.84 |
||||||
|
Free float (%) |
43.6 |
||||||
No reason to enter now as the Market is bearish and sensitive right now. Stocks going downwards together..
Entry? Now?
-- Think again. Be careful. Imo
