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5341-5360 of 5997
2.5 $ is not a problem by end of this year!
Keep buying!
aleoleo ( Date: 02-Aug-2010 18:39) Posted:
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HOSEI liao la, result damn good, almost double compare 09'
hahaha, tomorrow huat ah, regional shares all up too .....
SINGAPORE (2 August 2010)
COSCO Corporation (Singapore) Limited (“COSCO” or the “Company”), a leading
ship repair & marine engineering and shipping group, today announced strong growth
for its financial results for the second quarter ended 30 June 2010.
Group turnover increased 33.9% to $962.5 million in Q2 2010 mainly due to higher
revenue recognized from ship building and marine engineering projects and higher dry
bulk shipping revenue. Turnover from shipyard operations increased 35.5 % to $923.5
million on the back of higher progressive revenue recognition for the Group’s ship
building and offshore marine engineering projects. Dry bulk shipping turnover
increased 6.3% to $35.6 million due to higher charter rates.
Gross profit surged 73.2% to $120.9 million due to higher dry bulk charter rates and
higher profit contributions from ship building and marine engineering projects on the
back of higher turnover. As a result, net profit attributable to equity holders of the
Company increased 84.7% to $68.4 million in Q2 2010 due to higher profit
contributions from dry bulk shipping and shipyard operations. Compared to 1H 2009,
net profit attributable to equity holders of the Company increased 42.6% from $70.2
million to $100.1 million in 1H 2010.
Mr. Jiang Li Jun, Vice Chairman and President of the Company said, “We are pleased
to achieve strong growth against a challenging backdrop for our entire industry. As
business, industry and private demand conditions remain uncertain, and as various
governments begin unwinding some of their stimulus measures amidst a fragile global
economic recovery pressured by the recent fiscal crisis and financial market turmoil in
parts of Europe, our Group maintains a cautious outlook for the rest of 2010.”
The Group successfully delivered 18 bulk carriers in the 1st half of 2010. Of these,
COSCO Guangdong shipyard delivered 4 bulk carriers, COSCO Dalian shipyard
delivered 7 bulk carriers and COSCO Zhoushan shipyard delivered 7 bulk carriers. In
addition, COSCO Nantong shipyard delivered 1 jack-up rig, “Super M2 “, in June
2010. The Group will continue to focus on deliveries while it upgrades its shipyard
capabilities to improve operational efficiency and productivity.
3
The Group has an order book of US$ 5.5 billion with progressive deliveries up to 1
– Singapore Exchange (“SGX”) mainboard-listedstquarter 2013 which will keep the Group’s shipyards busy. This order book is subject to
revision from any cancelation of orders or new orders that may arise. On 15 June 2010,
COSCO Dalian shipyard and COSCO Guangdong shipyard signed 11 contracts and 4
letters of intent totaling over US$ 440 million with 4 European shipowners to build 15
units of bulk carriers, 4 of which are 82,000 dwt and 11 of which are 57,000 dwt each.
The effectiveness of these contracts is dependent on certain conditions including the
receipt of the initial deposits from the shipowners. As at 31 July 2010, 7 of these
shipbuilding contracts totaling over US$ 200 million have become effective.
“The Group will continue to leverage on the strength of its diversified business to
remain competitive and to consolidate its strategic position in the industry.” Mr. Jiang
added.
Barring any unforeseen circumstances, the Group expects to stay profitable in 2010.
About 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
action starterd, more to come
ya ya, not too late, there is no such thing as "late" in the share market ....
market is always there for you ...... heating up now .... should cheong up soon .... vested
Hi, everyday you got feeling about this counter.
how many have you kept until now?
this one , form long term point of view, 4-5 dollars is not a problem!
Just keep it, don't let your everyday's different feeling spoil the chance you make a
big money!
Hihi!
Isolator ( Date: 27-Jul-2010 14:28) Posted:
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dc16888 ( Date: 27-Jul-2010 09:23) Posted:
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