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My TP 0.45.
40, here we come again.
hi jennlsk
I got it from Channelnewsasia... under Singapore => Business
cheers
The measures by government are done because there are too many construction projects and construction companies couldn't take every project.
This measure also mean that construction sector would still have lotsa businesses after the completion of the major construction project, i.e. IR.
Hi syrix11, i've found it:
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| SINGAPORE (Thomson Financial) - The government will delay the implementation of
some 2 billion Singapore dollars worth of non-essential building projects to ease supply constraints, the Business Times reported Wednesday. "The bulk of the construction activities and resources in 2008 and 2009 are expected to be concentrated on mega projects such as the integrated resorts, Marina Bay Financial Centre, new downtown MRT line and petrochemical plants," the newspaper said, citing a statement from the Building and Construction Authority. "Once these (projects) have been completed, more construction resources and capacity will be available for other projects beyond 2009," the authority said. Construction demand is expected to reach 19-22 billion dollars this year and stay at that level in 2008 and 2009, it said. Apart from the mega projects, demand is also coming from property developers, which are building new residential condominiums, retail malls, hotels and office buildings. The construction boom has led to a 40 percent rise in construction cost this year, the newspaper said. |
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Hi syrix11, may I know where did you get the source of postponement from?
I got this theory that the BBs are not increasing prices for the construction counters because they hadn't buy enough of them for a big kill. Can't prove it, just guessing.
Wonder how this would affect construction stocks... Cranes co might be hit as well...
The government is postponing S$2 billion worth of public sector projects to 2010 and beyond.
This is to ease the shortage of contractors and construction manpower as well as demand for building materials.
The projects to be postponed were originally scheduled for next year and 2009.
The move will reduce the demand for construction manpower required in the next two years by up to 40 per cent.
However, essential public sector projects that are strategic and required for Singapore's continued economic growth or needed to meet key social needs will not be affected.
The Building and Construction Authority (BCA) is working with developers and the industry to expand the capacity of existing firms in Singapore.
It is also exploring the possibility of attracting new foreign contractors to Singapore.
The BCA said it will release data on construction demand and prices of building materials to enable the industry to better estimate costs and help reduce uncertainties in construction tenders.
The BCA added that once mega projects such as the Integrated Resorts, Marina Business Financial Centre, Downtown MRT Line and petrochemical plants have been completed, more construction resources and capacity will be available for other new projects beyond 2009.
I think the IR theme is now gone... all those construction counters ( yong nam, csc, LC Devt, Chip Eng Seng etc) seems to be down trending and got no strength to go up even when STI is green day....
Greatshafter, u say CSC until so good also no use.....
I think CSC directors forget to PR and have lunch with the big boys....
SO the big boy never comes in and push the price up.....
Guess CSC must be one of the last in their list......
Think we can only to be patience.....and wait....arrr....
CSC is also presently the number 1 in Singapore for what they do. And what they do is lay foundations for sky scrapers. Witht the present earth quake square in singapore, it is only natural that developers will sub contract the laying of the foundation to the specialists. Even if it is at a sligh premium.
Present earning growth will definitely sustain throught out the next financial year as well. Also, presently I feel that CSC is bogged down with demand in Singapore. Once they get some breathing space, the next location would be vietnam, just like Chip Eng Seng. So earning are bound to grow.
Any of you'll still having any reservations, go chk out this link... http://8groups.com/marinabaysands.html .....after you see the pics, now think about this "what about the reputaion of the guy who laid the foundation for that lovely marvel?"
Last recorded PE ratio was over 40. With current earning more than double what was forecast, to sutain the current PE, the share price will HAVE to increase to more than $1 (as at Nov 9 - 0.345). It is only a matter of time. Good luck to us all!! and God Bless CSC.
I'm a strong supporter of this counter. Despite all the dark clouds surrounding the market, this counter remain steady. With the release of the good news of dividend plus 300+% increase in profit, I think good times are just right ahead.
CSC and YongNam both have not dropped to Aug 17 price, which CSC reached 0.235 before.. so, both of this counter still standing well as chipengseng, hiap seng, etc are dropping fast and furious, hmmm... will they be the next target?
Dividend 0.282 cents. Great? 10 lots oni $28.20
http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_FA496941CA99A9734825738E00365CEC/$file/HY_Results_30092007_Press_Release.pdf?openelement
Fantastic results; dividend coming 0.282 cents
Fantastic results; dividend coming 0.282 cents
It think most counters are oversold including this one. Even with all the good news, STI remains low. I speculate that some fund managers are playing the market to weed out all the contra players and getting ready for the next bull run. Personally I believe that the Christmas shopping will excite the market and drive it upwards internationally. I'm optimistic that once that happens, most counters will ride the wave to the next high.
I in any case, i believe CSC is a good stock for now. Maybe Yongnam has been in the lime light for a while and still there are many up coming projects. think pretty soon, they should have some god news as well. Let's be patience. Maybe in a few months time, i'll recover.
Really? I'm sorry, I'm really quite newbie thus did not know this.
Anyway,I got this monopoly information from my guru. He told me to take a look at the company names printed on the cranes at construction sites. So that one fine day, I went around and by coincidence, all the cranes were printed with the words in bold : "CSC". With happy thoughts I went home and bought 25 lots. at 0.375. My guru assured me that CSC is a good buy with strong monopoly in Singapore and target price is at 0.7 from this year end till mid next year. So I'm playing the waiting game now.
Actually, thinking that the construction sector is blooming, I bought HLH as well. Both counters seemed to hate me. Both dropped in value the moment I bought them.
Elidor,
I tot Tat hong, Tiong Woon also owns alot of crane??