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shplayer, thanks for you sharing your views on ST Eng's 1Q... and the webcast address. I asked for your opinion because of your 'stature' as a very objective investor. 
The report from the company itself, well, sometimes they tend to highlight the good only and talk little about the ugly/bad. Thanks again.
The report from the company itself, well, sometimes they tend to highlight the good only and talk little about the ugly/bad. Thanks again.shplayer ( Date: 07-May-2008 20:36) Posted:
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Thank you shplayer and Ak Francis. I am vested in all these 3 counters.
Yesterday accumulate more of ST Engineering. Will buy more should it fall below its l-year low of $3.14. This one is for my longer term investment :)
Ah yoh yoh, $3.xxxx. Go Golden Agri or Yangzijiang, cheap and good loh. AK view. vested both, may buy in more, 2morow or Fri.
EastonBay,
I consider STE the GE of Spore........well managed, focused and as transparant as it can be. Despite the factors going against it,,,eg, USD exchange rates and expensing all the Spore Aerospace costs in this Q.....it still managed to post decent results for 1Q08. However, don't expect heartstopping price movements from this counter.
The star performer this Q was the Land Systems followed by Aerospace. Electronics was unimpressive and Marine a bit of a disappointment....despite more repair work (marine repairs usually have higher margins). Order book remains very healthy at S$9.2b despite writing off the Skybus contract (this LCC went bust recently) and adjustment of current contracts due to shrinking USD.
To get a better idea, suggest you watch the webcast of the 1Q08 results.
http://www.stengg.com/investorelations/webcasts.aspx
If I'm not wrong, they payout 100%. So the shareprice will definitely drop after payout. Look at the Share prices in May dated since 04, it's quite obvious.
Positive results is sujective.
ilovebull ( Date: 06-May-2008 23:24) Posted:
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Shplayer, would be glad to hear your insight/views w.r.t. the 1Q result. Hope it is not too imposing on u. Thanks.
shplayer ( Date: 06-May-2008 15:55) Posted:
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Just wonder why this good fundamental stock, always paying good divy, with such good positive result, yet the share price still drop ? Price is now almost at its one year low. Those not vested may wish to consider this counter. Vested.
ST Engineering Delivers 13% Increase In Profit After Tax In First QuarterSingapore, 6 May 2008 - Singapore Technologies Engineering Ltd (ST Engineering) today announced 13% increase in profit after tax and minority interests (PATMI) for its first quarter results.
Compared to 1Q2007, the Group's turnover for 1Q2008 increased by 8% to $1,315m. During the quarter, all sectors reported higher turnover except for the Marine sector which had comparable turnover. The Group's first quarter profit before tax (PBT) rose 6% to $156.4m and PATMI was up 13% to $122.5m. Earnings per share was 4.11 cents, up from 3.69 cents in 1Q2007. Return on equity (ROE) for 1Q2008 was 7.1%, compared with 6.4% in 1Q2007.
The Group's order book remained healthy at $9.19b, despite the adjustment in order book arising from the termination of the Airbus contract following Skybus' filing of Chapter 11 protection. During the Singapore Airshow in February, all sectors announced new contracts totalling close to half a billion dollars in value. The Group secured contracts from Flybe, Comair, Civil Aviation Authority of Singapore, the UK Ministry of Defence and L&M Botruc Rental, among others, during the quarter. About $2.89b of the Group's order book is expected to be delivered in the remaining months of 2008.
As at 31 March 2008, the Group's cash and cash equivalents and amounts under fund management were $1.6b, of which $1.1b were advance payments from customers.
In line with its business plan, during the quarter, the Group added new hangar capacity in Seletar and opened a new engine test facility in Paya Lebar. It also set up an import/export and logistics facility in Guangzhou to provide logistics and components and spares support in the China market.
Barring unforeseen circumstances, the Group expects to achieve a modestly higher turnover and PBT in 1H2008 as well as FY2008 compared to that of 1H2007 and FY2007 respectively.
"The Group reported 8% and 6% increase in turnover and profit before tax (PBT) respectively in 1Q2008 compared to 1Q2007 on the back of improved PBT for the Aerospace and Land Systems sectors, and lower PBT for the Electronics and Marine sectors. Profit after tax and minority interests grew 13% for the quarter.
In February 2008, the Group participated in Singapore Airshow 2008 and announced a series of contracts worth a total of about $500m.
Despite the loss of the Airbus contract following Skybus' filing of Chapter 11 protection, the Group's order book remains healthy at $9.19b as at end of 1Q2008.
With the expected slowdown in the global economy and the challenges ahead, we will continue to stay vigilant of events unfolding around us. Our priorities are to strengthen our market and competitive positions and seize business opportunities that emerge amidst the uncertain business environment." ~ Tan Pheng Hock, President and CEO, ST Engineering
ST Engineering is an integrated engineering group providing solutions and services in the aerospace, electronics, land systems and marine sectors. Headquartered in Singapore, the Group reported revenues of $5.05b in FY2007. With a market capitalisation of about $10b, it ranks among the largest companies listed on the Singapore Exchange. ST Engineering has more than 18,000 employees worldwide, and over 100 subsidiaries in 21 countries and 35 cities. Please visit www.stengg.com.
Media Contact:
Sharolyn Choy
VP / Director, Corporate Communications
Singapore Technologies Engineering Ltd
Tel: (65) 6722 1883
Fax: (65) 6720 2293
Email: sharolynchoy@stengg.com
1Q results announcement after 5.00 pm today.
technical charts points to distribution...quite a downtrending stock
0748 GMT [Dow Jones] STOCK CALL: Macquarie keeps ST Engineering (S63.SG) at Outperform with target price at S$4.00 after hosting company at Asean corporate day event in U.S. Says growth outlook robust due to earnings diversification, with renewal of product/services portfolio at ST Electronics, market share gains in ST Aerospace, enlarged client base via U.S. orders for ST Marine, specialty vehicle orders from U.S. government, entry into Chinese market for ST Kinetics. Says moves have lowered earnings cyclicality; notes also the different businesses spread across multiple geographies, geared toward infrastructure spending, rather than discretionary or consumer spending, reducing earnings risk from any one event. "We are not concerned about the medium-term prospects for STE, especially given the S$9.5 billion order book, marginal net debt position and approximately S$550 million contract wins. At 18.2X FY09, shares are trading below the historic average of 20.4X." Share down 0.6% at S$3.28; STI down 1.5%. (LES)
Last week, this counter had big lots selling down for the last three days. Could it be the big boys shorting or taking profit and today they return to buy back? Seems to have done the same for Singtel.
i m making a possible presumption that someone is accumulating at $3.29...no matter how big the selldown was at this price...the buy queue will reinstate itself automatically
| Time | Last | Volume | Buy/Sell |
| 16:19:55 | 3.290 | 2,000 | Sell Down |
| 16:18:05 | 3.290 | 10,000 | Sell Down |
| 16:17:32 | 3.290 | 5,000 | Sell Down |
| 16:14:31 | 3.290 | 3,000 | Sell Down |
| 16:14:24 | 3.290 | 1,000 | Sell Down |
| 16:07:19 | 3.290 | 5,000 | Sell Down |
| 16:06:06 | 3.290 | 150,000 | Sell Down |
| 16:04:34 | 3.290 | 88,000 | Sell Down |
| 16:02:16 | 3.290 | 2,000 | Sell Down |
| 16:00:39 | 3.290 | 4,000 | Sell Down |
| 15:49:39 | 3.290 | 60,000 | Sell Down |
| 15:48:06 | 3.300 | 10,000 | Buy Up |
| 15:47:48 | 3.300 | 10,000 | Buy Up |
| 15:46:52 | 3.290 | 2,000 | Sell Down |
| 15:46:51 | 3.290 | 11,000 | Sell Down |
| 15:46:11 | 3.290 | 26,000 | Sell Down |
| 15:45:59 | 3.300 | 28,000 | Sell Down |
| 15:45:59 | 3.300 | 2,000 | Sell Down |
| 15:45:59 | 3.300 | 5,000 | Sell Down |
| 15:45:59 | 3.300 | 5,000 | Sell Down |
strong buying queue for ST Engg
the bulls and bears are tugging in this counter....
| Time | Last | Volume | Buy/Sell |
| 11:20:35 | 3.310 | 4,000 | Buy Up |
| 11:20:19 | 3.310 | 50,000 | Buy Up |
| 11:20:14 | 3.310 | 23,000 | Buy Up |
| 11:19:58 | 3.310 | 81,000 | Sell Down |
| 11:19:36 | 3.310 | 26,000 | Sell Down |
| 11:19:05 | 3.310 | 10,000 | Sell Down |
| 11:18:59 | 3.310 | 3,000 | Sell Down |
| 11:18:56 | 3.310 | 3,000 | Sell Down |
| 11:18:01 | 3.310 | 3,000 | Sell Down |
| 11:14:07 | 3.310 | 8,000 | Sell Down |
| 11:14:07 | 3.310 | 2,000 | Sell Down |
| 11:14:07 | 3.310 | 2,000 | Sell Down |
| 11:14:06 | 3.310 | 57,000 | Buy Up |
| 11:13:42 | 3.310 | 59,000 | Sell Down |
| 11:09:08 | 3.320 | 24,000 | Buy Up |
| 11:03:39 | 3.320 | 26,000 | Buy Up |
I have no idea what's wrong with this counter, everyone seems to be picking up, but this one is falling behind. Any viable advice?
Will increase $$ in this defensive stock under this type of environment. Keep $ at Bay.....
Let see if it would close above 3.70 tomorrow.
Cautiously trade within the band should be able to make some profit, leverage on its warrant for better profit.
last minute push to 3.77 but seller control, preclose dumped 1500+ at $3.70.
winniefong,
Yep, as mentioned in an earlier post, its good for scalping.....in at 3.60+ (usually 3.64 to 3.66) and out 3.70+ to 3.80+. Not for contra play though. Got to be prepared to pick up and hold for a week or two.