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iOCBC targets $1.19, CIMB targets $1.19!!!!!!! KimEng targets $1.30!!!!!!!!!!!!!!
ALL BULLISH today on this GEM!!!!!!!!!!!!!!CHEONG AH!!!!!!!!!!!!!
unchanged. We like Rotary for its exposure to booming petrochemical spending on
Jurong Island and the region. Our target price remains set at 15x CY08 P/E,
comparable to valuations for regional EPC players.
Maintain Outperform and target price of S$1.19. Our earnings estimates remainIt has secured a $30m EPC contract from Australian renewable energy firm Natural Fuel Pte. Ltd. for its $130m bio-diesel facility at Jurong Island. The plant is said to be the world?s largest for producing bio-diesel. When the first phase is completed in end-'07, it will have an annual production capacity of 600,000 metric tons (700 million litres) of bio-diesel a year. It will also manufacture 60,000 tons a year of high-grade glycerine, a by-product used in food, cosmetics and soaps.
Bio-diesel is a growing energy source and is a cleaner fuel than traditional petroleum-based products. Compared with conventional diesel, it produces less carbon dioxide, the main culprit of global warming. Because of that, some governments are advocating the use of bio-diesel and have started mandating that ordinary diesel must contain some bio-diesel.
Dear readers,
Please note that Company's reported eps of 8.7cts and NAV of 33.9cts is based on issued shares on 31 Dec 06.
If we base it on current issued shares (ex bonus div/rights issue), the eps will be 6.21cts and NAV 24.21 cts.
At today's closing price of 90.5 cts, company is trading at P/E 14.6X.
With div of 3.1cts less tax (net 2.48cts), yield is 2.74%.
FYI
Net profit $35.2M up 320%....eps 8.7cent
final div 1.6cent & special div 1.5cent
It inked a venture to build, operate and jointly-own a plant to generate energy from waste. Diversification move would add breadth and depth to the company. Looks promising.
Full report here.
My average cost is only 0.82 ...
So i still can tahan....
Still confident in this counter..
lots of potential
looks like uptrend has resumed after a short consolidation period.
If STI behaves itself this week, there's shouldn't be any problem to hit $1