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eh one thing tat CAAM has sold off HS, i do not think its associated with the rumours... if you did a check, u notice CAAM has diluted alot of their shareholdings not only in HS.. in alot of other counters too.. think its having some prob of its own, thus to redeem the available capital they needed.
anyway chart wise, HS is poised for a breakout.. too bad dow crash on friday.. lets see how it react on monday :)
johndoe: thanks for all that information. But still the general market still seems to think that HS has not gotten the Parallel Train project despite setting up 200 million worth of tenders for it. in fact, the CAAM sell-off has also sparked rumour that HS may not be involved at all! Additional rumours that Rotary might outbid HS on most of its tenders for Train did not help either. Nevertheless, I agree with you that the oil industry in on fire right now, and will definitely go up in the near future. My belief is that Rotary had gone up too high on speculation and HS is still low. Guesswork is everywhere because this industry does not receive as much publicity as the IR projects. We don't really see graphs and charts in ST on JI like you see for IRs. But looking at the buy volume recently suggests someone is loading up on this counter now. Anyway thanks again for clarification, still a newbie but still learning. Do keep your postings regular, it's really interesting....
cheers!
Just waiting for a mass crash and then load up on this counter...
Guys,
some clarification needed here... pls do NOT classify this as insider news. I say again this is common knowledge in my industry. Dun get me hanged, pls!
skyrunner: HS is ALREADY on ExxonMobil's projects. As I said before, the Shell MOU is just some BS crap... the work is not coming soon, it's critically needed!! main reason: EPC resources now critical. Just cite an example..any Indian QC guy with barely 2 years local experience can easily cost guys like main EPC contractors like Chiyoda, Jacobs or Foster Wheeler SGD 5K and above. Asking price of experienced Ah Neh engineers easily 8K and above. What it tell u folks? Answer is... the industry is on fire right now and boys from Bukom and Exxon are scrambling for the likes of HS to commit their resources from now til 2012 and beyond when the Houdini and Parallel Train projects are over cos these same folks will be needed to maintain all the downstream ethylene plants. And dun forget this, with the record crude prices, the big boys are really hard pressed to complete the projects fast to reap the big bucks. Much that I would love to share more (I see a lot of speculations and half-truth guess work everywhere...), I'll really get hanged if I go in further.
Anyway, jackjames is right.. I'd rather HS climbs quietly and stays out of the spotlight. You guys may want to look longer... instead of punting now, amass the shares at the current levels and retire in 2012!!
Good luck... hope all of your early retirement dreams come true.
Regards.
Guess need 3 things for Hiap Seng to climb...
1. Exxon Mobil project.
2. CAAM totally out of the game.
3. resolute shareholders.
anyways, 17 oct news - Hai Leck's shareholdings of hiap seng has been transferred to its core shareholders - mainly the boss and his wife. something coming soon? :) good luck!
Memorandum of Agreement with Shell Eastern Petroleum (Pte) Ltd - 17 OCT
The Board of Directors of Hiap Seng Engineering Ltd (the ?Company?) is pleased to announce that the Company had signed a Memorandum of Agreement (?MOA?) with Shell Eastern Petroleum (Pte) Ltd (?Shell?) pursuant to which the Company agrees to provide Shell with various mechanical maintenance services for Shell Bukom Complex on a unit rate basis. The contract period under the MOA is two years from 1 January 2008 to 31 December 2009. Barring any unforeseen circumstances, the Company expects a positive contribution to its earnings from this MOA but does not expect any material impact on the net tangible assets or earnings per share for the current financial year ending 31 March 2008.
More work for hiap seng coming soon.....
looking good any entry point for this?
dow jones future +82 points now... I hope this counter will climb up silently.
vested today..
shhhhh..... it is okay that market did not reflect the insider news... I prefer that way, heeee... slow and steady can make a rocket fly high, simply love it, heee.. I have confidence in this counter too.
Thanks Johndoe for insider information. But seems like all that this information remains insider news and not reflected in the market
Singapore shares were lower at the end of the morning session Tuesday on renewed concerns over US credit markets and record oil prices.
At midday, the benchmark Straits Times Index retreated 16.07 points or 0.4 percent to 3,845.95, after falling to as low as 3,825.95.
Trading volume reached 1.5 billion shares worth 1.4 billion Singapore dollars.
Losers outpaced gainers 427 to 226 with 1,883 stocks unchanged.
The Dow Jones Industrial Average shed over 100 points Monday as news that major US banks will set up a fund to help bail out credit markets raised fresh concerns about bad debt. Federal Reserve Chairman Ben Bernanke's comments that the deepening housing woes in the US could significantly drag economic growth until early next year also dampened sentiment.
It appears that the "worst is not yet over in the US due to its bad debt crisis," DMG & Partners Securities said in a note to clients.
"Investors are advised to consider high-yield defensive stocks or counters with promising industry outlooks, such as construction and oil and marine industry in their portfolio," Westcomb Financial said in a note.
hmm... Hiap Seng is in the oil construction business. And among the few in the business. Still below tp of 1.20. Sometimes the fundamentals doesn't quite match up to the share value. Look at SGX - blown over to 17.20 but targeted at 11.22. A strong case that T/A is stronger than F/A.
DJ MARKET TALK:CIMB Cuts Hiap Seng Tgt To S$1.20;Keeps Outperform
Can't help commenting on the above... HS primary business isn't just gas compressors meant for offshore platforms, just in case it is misinterpreted. It may be an alliance contractor of CNOOC. But this alliance work probably only represents a small portion of their business. Their main business is in mechanical erections (furnaces, tankages, structural works) and piping works in the refinery, petrochemical and pharmaceuticals. Increasingly, they are also taking on more engineering capability.
I don't mean to question the accuracy of these reports by the experts but I guess there's no harm sharing what I know. I do know that with PCS expansion (downstream ethylene plants), SRC expansion and the other two which I mentioned earlier, Hiap Seng has probably never seen times this good. Hope this helps for those who are planning to invest in this counter.
Btw, TA = turnaround
Seriously, I know nuts about foreign funds. All I know is the biggest problems faced by Shell (Houdini Project) and ExxonMobil (Singapore Parallel Train) are contractor resources. In 2002, they have to prostrate themselves for a 100K job. Now, ppl like Hiap Seng, PEC, Yong Nam etc. are letting the owners know not to waste their time over a few meagre millions. The EPC market is so hot that we are talking to these guys on jobs slated for 2009/2010 to lock in their resource. And all the Ah Pig and Ah Dog contractors in the market have all been brought onboard for these 2 mega projects.
Well someone here seems to have mistaken me for some other folk he knows and called me guru. Thanks, but I'm not the guy he thinks he knows. I'm just someone in the oil and gas sector and thus know the movements in the industry intimately. I certainly didn't buy anything lately. But I'm still holding some bought much earlier on an average of 54 cents.
Hiap Seng like that now because Credit Agricole is selling it. Remember its climb from 65 cents to 97.5? Basically because CA is selling, investors got a scare. With 200 million in line for Jurong Island projects, with news coming out in less than 6 months. most likely rocket if news come out. definitely not for contra. With Hiap Seng issuing share placements to gain capital in the last 2 months, something has to be going on.
Now, will the 80 cents resistance be broken? CIMB and Phillips all issued buy signals with 1.20 tp. the next question is how fast?
Already vested yesterday at 0.765.
Potential Upside = +54%
Good buy now...
DJ MARKET TALK:CIMB Cuts Hiap Seng Tgt To S$1.20;Keeps Outperform
0104 GMT [Dow Jones] STOCK CALL: CIMB cuts Hiap Seng (510.SG) target price to S$1.20 from S$1.25; maintains Outperform rating. "We expect slower growth for Hiap Seng in 1H08 due to margin squeeze for gas compressors." Research note cuts FY80-10 earnings estimates 5-12% due to lower margin assumptions, shift in revenue recognition for delayed Shell project. But expects 2H08 earnings recovery, adds management in talks for US$100 million new contracts, shares cheap vs peers. Stock currently +1.3% at S$0.775. (KIG)
Bought this counter @.89 and cut loss @.86. It was still dropping, so no point holding to this counter right now. So trade with caution. Cheers.
Fundamentals seems good but somehow the confidence is not there. Now still dropping.
vested 15 lots at 0.76 today, test the water first... !
we are at the same boat now, come, shot for this counter, heeee..