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12-May-2013 08:41

China Fishery / China Fishery - Low PE

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Take a look at the offer, the price should still be consider ok.

Peruvian Fishmeal quota

Peruvian Fishmeal Industries
Company	Quotas (%)
Tasa	14.10%
Copeinca	10.70%
Diamante	8.50%
Austral	6.90%
Hayduk	6.60%
China Fishery Group	6.20%
Exalmar	6.00%
Centinela	2.30%
Pacifico Centro	2.20%
Others	16.60%
Wood Fleet	19.90%

Copeinca (USD million)	2011	2012
Total Revenue	$254.50	$314.20
Net Income	$47.80	$49.60
Profit Margin	18.78%	15.79%


Total share issue	USD	Net Income/share NOK
58,500,000	0.847863248	4.913409915

Offer (NOK)	PE
59.5	12.10971627

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11-May-2013 20:56

China Fishery / China Fishery - Low PE

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Thanks have a better understanding of the company operation.

Blanchard ( Date: 11-May-2013 11:07) Posted:

China Fish's announcement this morning. As of today, China Fish holds Copeinca Shares and rights to Copeinca Shares equal to approximately 35.8% of the Copeinca Shares and votes in Copeinca.

http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_D5A7EC2539054FF048257B6800017F13/$file/CFGL-Annc_Copeinca-11052013.pdf?openelement

Cheongsl, wonder if these announcements help? Thanks for helping us to understand more about China Fish.

1.http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_2C7D35355AA7033948257B6500230C33/$file/CFGL-2QFY2013_PressRelease.pdf?openelement

2.http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_39BDE8D4BAE17B2C48257AB6002464B3/$file/CFGL-LongTermSupplyAgreement-141112.pdf?openelement

3.http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_4C60A94CB7C4A37848257A3D003B6DF0/$file/CFGL-LongTermSupplyAgreement-160712.pdf?openelement

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11-May-2013 04:46

China Fishery / China Fishery - Low PE

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Anyone know about the new operating reforms for the company. The new operating methods seems to reduce cost but have major impact on the revenue, as what mention in the report is that the price of fish have when up, the revenue decrease due to volume decrease. It seems to suggest less experience labour are used which have result in lowering of fish catches. The new financial statement seems to suggest that they only rent the vessel, and they get their own labour which is reclassified under cost of sales.

	FH2013	FH2012	Different
Revenue	270,783	345,455	-74,672
Cost of sales	-131,321	-40,000
Charter hire expenses		-33,221
Vessel operating costs	-51,503	-153,077
Cost expense for revenue	-182,824	-226,298	43,474

guoyanyunyan ( Date: 10-May-2013 09:04) Posted:

...Last Done: $0.410...

US$ Million	1H FY2013	1H FY2012	Chg (%)
Revenue	270.8	345.5	-22%
EBITDA	122.1	135.2	-10%
Net Profit attributable to shareholders	55.5	72.0	-23%
EBITDA margin	45.1%	39.1%
Net profit margin	20.5%	20.8%

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11-May-2013 03:52

StarHub / Starhub

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Yup, this tread is about starhub, but for FA, noone will buy starhub, unless they claim to be FA, but they are not. Just take a look at their balance sheet. FA look into business, future development and avoid risk.

Their current asset for 2012 is 618million, but their current liability is 879.2million. That means one year period they are unable to pay the debt.

Their total asset is 1808.6 and total liability is 1,765.1million, you might think that you can get back at least 43.5million when it really default, but it is not true, the intangible assets, usually is equal to zero, property most likely you can get certain value but plant and equipment, when you sell can only at certain discount rate. Thus the Group is heavily in debt. The reason for it not defaulting is that they still have the customer base, that the deptor believe that they can still pay up the dept from the customer collection. But all recent policy implement suggest the company actually are trying to squeeze on their customer. I only have their mobile plan, so I am not too sure on the other sector. But from what I observe is that previously renewer of the contract, they give out mobile discount voucher, but now only you subscrip to those highend plans then you can get. The points of the starhub does not get you any place, the redeem items is usually fully redeem. I know a few of my friends actually transfer from starhub to singtel or M1 already, actually I am also considering.

Just for a few cents dividend and bet with 4 over dollars over a -ve corporate, isn't that an act of gambler? This is playing with musical chair, it is when the music stops, who is on the chair will be the one suffer.

If starhub can reduce the dividend pay, and focus more on building up their customer relationship and reducing their liabilities. Then it will be a better company to look for.

	Group
	2012	2011
Non-current assets
Property, plant and equipment	791.1	761.9
Intangible assets	397.0	423.6
Deferred tax assets	2.5	2.8
	1190.6	1188.3
Current assets
Inventories	28.1	37.2
Trade receivables	142.3	152.0
Other receivables, deposits and prepayments	123.6	149.2
Balances with related parties	12.0	17.2
Cash and cash equivalents	312.0	179.2
	618.0	534.8
Current liabilities
Trade and other payables	-728.1	-702.9
Balances with related parties	-56.5	-41.9
Borrowings	–	-75.0
Provision for taxation	-94.6	-83.5
	-879.2	-903.3
Net current (liabilities)/assets	-261.2	-368.5
Non-current liabilities
Trade and other payables	-37.5	-34.1
Borrowings	-687.5	-587.5
Deferred income	-41.7	-62.8
Deferred tax liabilities	-119.2	-112.8
	-885.9	-797.2
Net assets	43.5	22.6
Shareholders’ equity
Share capital	263.1	262.8
Reserves	-219.6	-240.2
Total equity	43.5	22.6

iluvboost ( Date: 10-May-2013 21:04) Posted:

Lets not cloud this thread with yr comments , this thread is on Starhub, not comparing our FA TA skills.

Whats impt is profits in pocket, it doesnt matter whos better.

cheongsl ( Date: 10-May-2013 20:50) Posted:

Are you sure you are an FA?? I doubt so based on the way you comment on starhub

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10-May-2013 20:50

StarHub / Starhub

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Are you sure you are an FA?? I doubt so based on the way you comment on starhub.

iluvboost ( Date: 10-May-2013 20:38) Posted:

if i FA on starhub, yes its trading way above its value. but i look into market psychology, price action, volume and TA.

its a dividend safe play , with loyalists, that makes its stock graph so smooth and continously gentle uptrend.

cheongsl ( Date: 10-May-2013 20:23) Posted:

That means that you are not fundamental trader, if you are fundamental trader you should know why I say starhub is only for gambler

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10-May-2013 20:23

StarHub / Starhub

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That means that you are not fundamental trader, if you are fundamental trader you should know why I say starhub is only for gambler.

iluvboost ( Date: 10-May-2013 19:48) Posted:

funniest cock i heard today. Starhub is a good investment stock. alot of people like to keep this and grow, dividend yield one of the highest with capital gains.

only do TA if intend to swing trade this. nothing to gamble for this. want to gamble go play CNA or Lorenzo or mbs casino.

cheongsl ( Date: 10-May-2013 19:38) Posted:

Starhub is not for fundamental trader, mainly for gamblier and technical trader

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10-May-2013 19:38

StarHub / Starhub

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Starhub is not for fundamental trader, mainly for gamblier and technical trader.

iluvboost ( Date: 10-May-2013 15:14) Posted:

Any dip is a buying opportunity for this powerhouse stock.

vested at intraday low. dont forget dividends is next wk.

Octavia ( Date: 10-May-2013 12:15) Posted:

Maybank Kim Eng downgraded StarHub to a " sell" , citing the telco's ever-thinning dividend spread, increased competition, revenue guidance cut, and its " onerous" growing demands on cash.

" While gearing is ultra-low, the nearest window for more dividends has now been pushed back with a delay in the 4G spectrum auction...," Maybank analyst Gregory Yap said.

He added that the fixed dividend and yield of 4 per cent will still provide some comfort, but he advised shareholders to sell into strength.

StarHub on Thursday posted a 3.2 per cent increase in net profit to S$91.2 million for its first quarter, but Maybank said adjusted for grants given by IDA to drive Next Generation Nationwide Broadband Network (NGNBN) adoption, which is not operating income as it will not last, net profit would have fallen 5 per cent to S$76 million instead.

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08-May-2013 21:06

Valuetronics / Biz Times june 26..Valuetronics to expand

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Seems like start moving again.

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08-May-2013 20:38

China New Town / China New Town Development

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Last year main revenue also come from shanghai luodian, this year March the annoucement the sold price already more then last year total revenue. Anyone do any research on this counter?

Reference is made to the announcement of the Company dated 8 February 2013. The site area of the land parcel is approximately 110,021.90 square meters with a plot ratio of 1.01 times which is equivalent to 111,122.12 square meters in terms of gross floor area (“GFA”). During the auction, after passing through 78 rounds of bidding, the piece of land was sold at RMB1,350 million with a premium over reserve price at over 40%. The Management of the Company consider the successful auction of the land fully reflects the strong market confidence in the recently announced potential equity stake subscription by China Development Bank International Holdings Limited (“CDBIH”) in the Company.

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08-May-2013 20:31

China New Town / China New Town Development

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Look promissing, especially shanghai luodian project.

happyharvest ( Date: 08-May-2013 18:25) Posted:

In my opinion, the only way is up unless something bad happens.

cheongsl ( Date: 08-May-2013 12:37) Posted:

Anyone vested? or do some research on this counter, mind to share?

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08-May-2013 12:37

China New Town / China New Town Development

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Anyone vested? or do some research on this counter, mind to share?

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07-May-2013 22:23

YZJ Shipbldg SGD / Cruising with the ship ..Yangzijiang

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?? XD should be after 10 May 2013 after 5pm based on the annoucement from SGX, when did it bring forward?

oldflyingfox ( Date: 07-May-2013 10:21) Posted:

Tomorrow xd so shorties should be covering today. I will consider to get more if the price went too low tomorrow.

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28-Apr-2013 08:36

YZJ Shipbldg SGD / Cruising with the ship ..Yangzijiang

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In fact, I get 30% for risky company loan return 3 years ago. Although is a small amount, I stop after one year, as find it too risky as might loss everything. Seems like the return rate have drop further.

cheongsl ( Date: 28-Apr-2013 08:30) Posted:

From what I heard, the loan return rate of china is something like below:

1~5% 国债

4~12% 基础建设债

5~15% 城市发展债

12~20% 险企债

The loan return rate is lower then India for infrastructure and city building, I heard in India, people can easily getting return of 13% or even more from this loan.

BenjenStark ( Date: 27-Apr-2013 18:31) Posted:

1. I think my previous question is more of whether 10-12% interest from government is normal and reasonable to believe?

3. http://www.nextinsight.net/index.php/story-archive-mainmenu-60/912-2011/4199-yangzijiang-shipbuilder-by-day-financier-by-night

" CFO Liu Hua explained how Yangzijiang took advantage of high deposit rates in China and low borrowing rates in the US to generate interest income as a measure against China's severe inflationary environment of 6% to 7%"

Does this mean that if the USD appreciates against CNY, they might potentially suffer rate loss in this segment

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28-Apr-2013 08:30

YZJ Shipbldg SGD / Cruising with the ship ..Yangzijiang

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BenjenStark ( Date: 27-Apr-2013 18:31) Posted:

BenjenStark ( Date: 27-Apr-2013 18:21) Posted:

Doing my due diligence on YZJ.

I have a question guys. YZJ is using HTM to weather the shipbuilding down cycle. The HTM yields reported by their CFO Liu Hua seems to be 10-12%. 10-12% is pretty high even if they are loans to China government bodies.(http://www.nextinsight.net/index.php/story-archive-mainmenu-60/919-2013/6500-yangzijiang-5-ct-dividend-despite-profit-decline)

(http://www.tradingeconomics.com/china/interest-rate)

The latest time I checked, China long term loans are about 6-7%.

1. How do they get " safe" interest yields of 10-12% from government bodies?

2. What percentage forms up the loans to government bodies vs micro financing business? (in case I miss out some data points from their financial report, someone please enlighten)

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26-Apr-2013 23:46

YZJ Shipbldg SGD / Cruising with the ship ..Yangzijiang

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That depends on your target price, my average accumulation prcing is still slightly above the current pricing. If you think, the peak for this counter is 0.98 then it is risky to enter now. My current target is $2, so I will continue to accumulate at any technical price that show a uptrend. Unless there is major changes to the economy climate or there is strong indication of this counter is defaulting or ... I will still hold on my target.

gavinl ( Date: 26-Apr-2013 16:12) Posted:

Now buy a bit too late right?
When 925, 93 or even 935 should start buying already.

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26-Apr-2013 23:27

YZJ Shipbldg SGD / Cruising with the ship ..Yangzijiang

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Continue to accumulate as shipbuilding recovery trend is still intact.

China: Shipyards Enjoy Big Rise in Q1

The nation's shipbuilders received 9.57 million deadweight tonnage of new orders in the first quarter of the year, a 71.1 percent surge on last year, but analysts still expect vessel prices to remain low because of newly added capacity.
The first quarter figures compare to 5.59 million DWT in the same period last year, according to the China Association of the National Shipbuilding Industry.
The rising new order book is in line with global industry trends, which show that shipbuilding orders grew 44 percent from a year ago to 20.58 million DWT for the quarter.
Industry analysts believe the global shipping industry has bottomed out and expect to see a pick up in fortunes next year and in 2015.

warrenbegger ( Date: 26-Apr-2013 23:11) Posted:

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26-Apr-2013 23:15

YZJ Shipbldg SGD / Cruising with the ship ..Yangzijiang

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Yes, Yang Zi Jiang is an index share in 2008 and also out of STI index share in 2008, short live in STI.

sk6666 ( Date: 26-Apr-2013 14:37) Posted:

Extracted from another yzj thread. Was yzj a sti component in 2008? Any pioneer here can update us.

787180 ( Date: 23-Oct-2007 10:46) Posted:

Posted: Tue Oct 23, 2007 10:39 am Post subject:

Yangzijiang tested $2.87 recently again -------------------------------------------------------------------------------- Believe YZJ will cross $3 and heads towards $3.50-$4.00 when included in STI index in 2008 and when QII funds start buying..will be another Cosco and Yanlord..many shorted recently at $2.70 but it continues to move up after hitting alow of $2.49 on Oct 23 Yangzijiang Shipbuilding -------------------------------------------------------------------------------- Yangzijiang To Bounce To S$3.20 Resistance: OCBC [Dow Jones] Yangzijiang Shipbuilding (BS6.SG) +3.4% at S$2.77 OCBC says charts tip bounce up to resistance at S$3.20. " The short-term stochastic indicator has reversed direction from its dip close to the oversold zone, signaling further upside lies in the days ahead," research note says. Adds stock showing signs of recovery after three-day pullback, falling to low of S$2.43 on Oct. 17 before reversing to close above the 23.6% Fibonacci retracement level. Also notes bullish candlestick pattern formed yesterday support level set at 38.2% Fibonacci level of S$2.29.

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Geneva88 ( Date: 26-Apr-2013 14:13) Posted:

If i rem correctly this counter was once one of the STI components

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26-Apr-2013 23:06

YZJ Shipbldg SGD / Cruising with the ship ..Yangzijiang

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Get in somemore on last wednesday, after confirmation of CCI, MACD, Stochastic divergence.

warrenbegger ( Date: 26-Apr-2013 20:58) Posted:

I load first at 940, I think this px can buy.

Few days later someone throw to me at 935, I collect bit by bit.

Then 930, then again 925... After that I stop loading cause i not sure when the throwing will stop.

My other plan if stock doesn't crash is to do AD at around 895 again to build a bottom base. Then continue AD till I think is enough.

In stock is never too late if u can see the value, drop a bit won't die, up a bit also don't happy too fast. Stock market is heartless.

If after few months the px shoot up to $1.3. u might think that time why I didn't buy around 950+.

We never know what will happen next, just plan and prepare if worst come. If not, just happy all the way to the tops.

If u afraid to climb the highest mountain, u miss the best view of your whole life. (This doesn't apply to chase over px stock)

Some of my friend told me not to buy SGX that times, I load big big let them see how I climb. I won it :)

gavinl ( Date: 26-Apr-2013 16:12) Posted:

Now buy a bit too late right?
When 925, 93 or even 935 should start buying already.

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18-Apr-2013 23:23

YZJ Shipbldg SGD / Cruising with the ship ..Yangzijiang

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This is only release recently China share in IMF increase from 3.996% to 6.390%, and volting power increase ot 6.068%, is the third in ranking in IMF after US and Japan.

中国的份额将从目前的 3.996%大升至 6.390%，投票权将从目前的 3.806%升至 6.068%，成为 IMF第三大份额国。

世界经济版图已经发生巨大变化，全球治理的格局也必须作出相应改革。 2013年国际货币基金组织（ IMF）与世界银行春季年会将为 2010年决定的 IMF份额改革做最后冲刺。

这项改革意义深远，尤其对中国而言：超过 6%的份额将从代表性过高的成员国转移到代表性不足的新兴市场和发展中国家，而中国的份额将从目前的 3.996%大幅上升至 6.390%，投票权将从目前的 3.806%升至 6.068%，超越德国、法国和英国，跃升为仅次于美国和日本的 IMF第三大份额国，这标志着中国的综合实力和全球话语权的显著提升。

与此同时，执董会改革完成后，还将产生一个更具代表性、全部由选举产生的执董会，欧洲国家将让出两个席位，以提高新兴市场和发展中国家在执董会的代表性。

cheongsl ( Date: 18-Apr-2013 23:17) Posted:

Recently China hope to increase the % in IMF from ~3% to ~6%, thus there is alot of bad news coming out, but I believe the US will still support this move as more money from China need to transfer into IMF, so can rescue the world if more country is to default. Previously US comment China manipulate the exchange rate, now also change it tone to China did not manipulate the exchange rate.

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18-Apr-2013 23:17

YZJ Shipbldg SGD / Cruising with the ship ..Yangzijiang

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