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Aiyah! Should have bought some today, maybe will cheong tomorrow!
samson ( Date: 04-Aug-2008 17:25) Posted:
The report is out
Gross profit surged 61% from $152.2 million in Q2 2007 to $245.4 million in Q2 2008. This was lifted
by higher turnover despite lower gross margin from 29.7% to 23.4% mainly due to higher raw
material costs.
Other gains comprised gain from the sale of scrap materials, interest income, net gain on disposal of
property, plant & equipment and foreign exchange differences. Other gains jumped 63% to $62.4
million in Q2 2008 mainly due to higher income from sale of scrap materials and interest income
from bank deposits.
Distribution and administrative costs rose in line with the expanding business volume and rising cost
environment, kept in check with effective cost management. Interest expense decreased 54% due to
reduction in bank borrowings in Q2 2008 compared to Q2 2007.
Minority interests increased due to higher contributions from its PRC subsidiaries involved in ship
repair, ship building and marine engineering operations.
Overall, net profit attributable to equity holders of the Company rose 60% from $80.4 million in Q2
2007 to $128.7 million in Q2 2008 backed by strong business expansion and operational efficiencies.
Compared to 1H 2007, net profit rose 74% from $122.3 million to $212.6 million in 1H 2008.]
http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_EB58734B1A34A9EF4825749B00273428/$file/Cosco_Q22008_Results_Annt.pdf?openelement |
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The report is out
Gross profit surged 61% from $152.2 million in Q2 2007 to $245.4 million in Q2 2008. This was lifted
by higher turnover despite lower gross margin from 29.7% to 23.4% mainly due to higher raw
material costs.
Other gains comprised gain from the sale of scrap materials, interest income, net gain on disposal of
property, plant & equipment and foreign exchange differences. Other gains jumped 63% to $62.4
million in Q2 2008 mainly due to higher income from sale of scrap materials and interest income
from bank deposits.
Distribution and administrative costs rose in line with the expanding business volume and rising cost
environment, kept in check with effective cost management. Interest expense decreased 54% due to
reduction in bank borrowings in Q2 2008 compared to Q2 2007.
Minority interests increased due to higher contributions from its PRC subsidiaries involved in ship
repair, ship building and marine engineering operations.
Overall, net profit attributable to equity holders of the Company rose 60% from $80.4 million in Q2
2007 to $128.7 million in Q2 2008 backed by strong business expansion and operational efficiencies.
Compared to 1H 2007, net profit rose 74% from $122.3 million to $212.6 million in 1H 2008.]
http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_EB58734B1A34A9EF4825749B00273428/$file/Cosco_Q22008_Results_Annt.pdf?openelement
It is so hard to judge wheather it will cheong or further down as BB is in place now.. Chances is it is near the 52 weeks low. Is good entry.
fr data:
likely two BBs selling, one (or perhaps two) BB buying. BB selling on automated system i think. lidding at 2.92-2.93.
net pic for the day is distribution of abt 2,000 lots.
fyi only.
u forgot it dropped a lot before Q1 results, until the CEO has to come up and confirm that the result is good, the, the stock starts to rally again.. from 2.8 level to 3.8 level ... check the graph then, u will know...
well, if u ask me, i also want it to drop, then, i can buy cheap, havent bought this gem yet...
If it so good..... why is it being sold down so much today??
wow Mr. Lee sold 500 shares last 2 weeks? i didn't notice that... i still remember he contra 500 lots on aug 17, ha ha...
result out today? result should be 3 digit percentage nett profit growth gua..
but again, cheap price is < 2.80..
Cosco 2H2008 report will be out Today .
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On July 31, 2008, COSCO held a press conference in Beijing at which COSCO published the Sustainable Development Report 2007. This event demonstrates again COSCO Group's commitment to the fulfillment of the Global Compact and corporate social responsibilities. Vice President Li Jianhong presided over the press release and Bjorn K. Haugland, Vice President of Det Norske Veritas (DNV), spoke of the auditing opinions. Peng Huagang, Director of the Research Office of the State-owned Assets Supervision and Administration Commission of the State Council, Song Dexing, Department Chief of the Ministry of Communications, Ms. Chen Ying, member of the United Nations Global Compact Board, Ms. Liu Meng, Senior Advisor at the United Nations Global Compact Office, and Li Kejun, President of China Classification Society delivered congratulating speeches. Capt. Wei Jiafu announced the formal release of the Report and expressed his thanks to all the supporting parties. Many organizations home and abroad, COSCO's customers, suppliers, strategic partners and the media were also present.
The leaders and guests spoke highly of the Report. They also appreciated the progress COSCO has made implementing the Global Compact, fulfilling its social responsibilities, and constructing the sustainable development management system. Det Norske Veritas (DNV) and the Global Compact Promotion Office under the China Enterprise Confederation have reviewed the sustainable development report as the third parties.
Capt. Wei Jiafu declared that COSCO would publish sustainable development report every year.
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Updated Time: 2008/08/01
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http://www.cosco.com/en/news/detail.jsp?docId=12002
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| COSCO Becomes the Highest Profit-Making Shipping Company in Global 500 |
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In Fortune Global 500, COSCO Group stands firmly at 405th place for its outstanding performance in 2007, with annual revenue of 20.84 billion US dollars and profit of 3.678 billion US dollars. Among the listed four shipping companies, COSCO is the best profit-making shipping company in the Global 500.
Also, COSCO achieved impressive performance in five Top50 rankings:
13th in Top 50 fastest profit growth
15th in Top 50 high profit growth
31st in Top 50 high return to investors
43rd in Top 50 high EPS growth
46th in Top 50 high revenue growth
COSCO Group's great-leap-forward development in its robot growth, brand building and shareholder return has been extensively recognized in Global 500 rankings, and well recognized by the shipping industry.
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Updated Time: 2008/07/17
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http://www.cosco.com/en/news/detail.jsp?docId=11848
May be an indication not to buy...
Luostock ( Date: 22-Jul-2008 19:50) Posted:
| 1. |
Date of change of Interest |
18-07-2008 |
| 2. |
Name of Registered Holder |
Lee Fook Choy |
| 3. |
Circumstance(s) giving rise to the interest or change in interest |
Sales in Open Market at Own Discretion |
| |
# Please specify details |
|
| 4. |
Information relating to shares held in the name of the Registered Holder |
| |
| No. of Shares held before the change |
700,000 |
| As a percentage of issued share capital |
0.031 % |
| No. of Shares which are subject of this notice |
500,000 |
| As a percentage of issued share capital |
0.022 % |
| Amount of consideration (excluding brokerage and stamp duties) per share paid or received |
3.034 |
| No. of Shares held after the change |
200,000 |
| As a percentage of issued share capital |
0.009 % |
|
| 1. |
Holdings of Director , including direct and deemed interest : |
 |
Direct
|
Deemed
|
| No. of shares held before the change |
700,000 |
123,000 |
| As a percentage of issued share capital |
0.031 % |
0.005 % |
| No. of shares held after the change |
200,000 |
123,000 |
| As a percentage of issued share capital |
0.009 % |
0.005 % |
|
|
| 1. |
Date of change of Interest |
18-07-2008 |
| 2. |
Name of Registered Holder |
Lee Fook Choy |
| 3. |
Circumstance(s) giving rise to the interest or change in interest |
Sales in Open Market at Own Discretion |
| |
# Please specify details |
|
| 4. |
Information relating to shares held in the name of the Registered Holder |
| |
| No. of Shares held before the change |
700,000 |
| As a percentage of issued share capital |
0.031 % |
| No. of Shares which are subject of this notice |
500,000 |
| As a percentage of issued share capital |
0.022 % |
| Amount of consideration (excluding brokerage and stamp duties) per share paid or received |
3.034 |
| No. of Shares held after the change |
200,000 |
| As a percentage of issued share capital |
0.009 % |
|
| 1. |
Holdings of Director , including direct and deemed interest : |
|
Direct
|
Deemed
|
| No. of shares held before the change |
700,000 |
123,000 |
| As a percentage of issued share capital |
0.031 % |
0.005 % |
| No. of shares held after the change |
200,000 |
123,000 |
| As a percentage of issued share capital |
0.009 % |
0.005 % |
Hope the new chairman Li Jian Hong does not seeing RED for COSCO.
Got this from another forum. Is it true?
July 21, 2008, 7.28 pm (Singapore time)
Cosco chairman steps down
Cosco Corporation (Singapore) said its chairman, Wei Jia Fu (Captain
Wei), will step down tomorrow as chairman and non-executive director in
line with the group's commitment to good corporate governance practice
related to succession planning and leadership renewal.
Captain Wei would be stepping down because of his engagement in the
service as the President of China Ocean Shipping (Group) Company and
Chairman of China COSCO Holdings Company Ltd.
Replacing Captain Wei as chairman of Cosco Corporation is Li Jian
Hong, who is a non-executive director of the company. -- BT Newsroom
the price now is not attractive at all seeing others are all hitting 52 weeks low, it must be 2.70 in order to "appear" cheap to me.
Is betting time.. already start queueing at 3 dollar... either once touches there either head south or totally north.. GOod luck
CIMB cuts Cosco Corp target to $4.39 from $4.84; maintains Outperform rating. Broker says target price cut reflects, "perceived margin risks at Chinese shipbuilders;" makes no change to earnings estimates. Says surging steel prices manageable, impact on earnings within expectations, Cosco''s shipbuilding business still yields 10% margin. Adds, Norwegian oilfield services firm Sevan Marine may have exercised option for Cosco to build 2 more cylindrical drilling rig hulls, says announcement of this could come hand-in-hand with another option for Cosco to build 6 more drilling units.
inside trading: a person can't trade shares if he/she is in possession of price-sensitive news that the general public does not know yet. such as the winning of contracts, or the FYE results, announcement of special dividends etc.
it's a very iffy line though. the issue is, what consitutes the 'general public'? analysts get new before the public, and all that. difficult to really prove that someone is doing insider trading. which is why i think someone must have reported him.
alternatively, he was that incautious enough to be the only one trading on news that no one else traded on.
Actually what are the rules for insider trading?
As long as you are a director, you cannot trade shares is it?
