ShareJunction - Member Posts

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Digestion of CEO selling is done. Let' s move on from here.

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http://www.hellenicshippingnews.com/life-without-p3/

As I said, P3 network is not totally gone. It still work at other network except China only. Sooner, China will accept it.

No hope to NOL.

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This time, shortist will seek for new low. Better stay away and see. A swing will only happen after huge volume sell down. So far, low volume moving down, more to go down.

spore1 ( Date: 23-Jun-2014 17:21) Posted:

Every low provide a good opportunity . Think 95 cents will be a good price to consider for long . DYODD

spore1 ( Date: 08-Jun-2014 22:58) Posted:

Nol still hover between 96.5 to 99.5 cents. It will need a strong push for it to reverse the trend.

http://sporeshare.blog spot.sg/2014/05/nol.html

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Really, nothing to say right, now move to politic issue about PAP supporter or Anti PAP.

Temasek is not belong to PAP, GIC too. If 1 day, Lee Family walk away from politic, PAP collapse or break into 2 parties or lose the support from Singaporean. Temasek and GIC are still there, these 2 investment holding are belong to Singapore. It is like world largest fund norway sovereign wealth funds, it is belong to the country and managed by the government. Which party are elected to be the government, they will be the party to manage the fund.

sgng123 ( Date: 23-Jun-2014 15:15) Posted:

lol he anti PAP, anything temasek linked he go nut on it regardless of fact. For now we did not know further detail of what going to happen, best approach is keep quiet and hand off ship better this way. What if thing turn out for the better or worse, would get flamed by the whole forum for making baseless warning/recommendation. Keep Quiet and Let those who want to get flamed later enjoy their vent.

Lucky03 ( Date: 23-Jun-2014 12:46) Posted:

As pointed out by you, it is not that shipping industry has no chance to be profitable as demonstrated by Maersk. It is simply that NOL is gone case ???

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Gone case? I am talking more about if investing in NOL is a right choice from present till next 6 month to 1 year time. Based on what NOL has now, the company can last about 2 years till their notes or bond expiry and require to refinance. The 4 billion of borrowing is a poison now and will be the burst 2 year later if NOL fail to pump in cash and the cash will be burnt off by the interest and continue loss making

Based on the cash position, business operation condition and etc, NOL need cash, close to 400 million gain sales of headquarter are used out, there are not positive assets can be sold. The company cannot make profit, but loan has to be served. Right issue will come any time, once it come, share will be diluted(it may not 1 to 1, it may be 1 to 2 or to 4, to raise more cash), share price will drop. Temasek is not charity hub. As what they did before, they may only take over those right which the existing shareholder don' t want or unable to pay and increase Temasek stake.

NOL may not gone case, but existing shareholders benefit is gone case.

Lucky03 ( Date: 23-Jun-2014 12:46) Posted:

As pointed out by you, it is not that shipping industry has no chance to be profitable as demonstrated by Maersk. It is simply that NOL is gone case ???

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The fat guy enjoying his million dollar annual salary, He was awarded with million dollar shares since his first day in NOL. After 3 years of his effort, NOL is still the same. He may be thinking how to cash out all his shares now since he may be kicked out from the Group soon.

Lucky03 ( Date: 23-Jun-2014 13:03) Posted:

Certainly wish that the General at NOL gets your message loud and clear :)

earlybird14 ( Date: 23-Jun-2014 12:50) Posted:

No vested and sure about it. Instead of putting salt on it few month later, I would prefer to give warning alarm.

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No vested and sure about it. Instead of putting salt on it few month later, I would prefer to give warning alarm.

Lucky03 ( Date: 23-Jun-2014 12:44) Posted:

You sure you are not vested ? You certainly is very adamant on the doomsday of NOL in particular ?!

earlybird14 ( Date: 23-Jun-2014 12:39) Posted:

The more you understand the shipping market, the more you will know chance for NOL to survive is hard, chance for NOL to boom again is almost zero.

New container shipping volume under the order in past 2 years will be 16%. World GDP is only 2 to 3% per year. It doesn' t include the new order of new vessels to order with cheaper price in next 2 years.

" Unfortunately, when companies go bankrupt or when their ships get arrested and sold, they do not go away but continue to trade with lower capital costs, thereby prolonging the depressed freight markets."

This is the real facts. This is like property bubble, once bubble burst, it take decade to recovery. The bad news to NOL is P3 are profitable, when competitors managed to be profitable, they will beating the price and occupy more market share. P3 network is fail but doesn' t mean NOL can survive. Maersk and MSC shipping capacity is equal to G6 total capacity, nothing is changed.

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The more you understand the shipping market, the more you will know chance for NOL to survive is hard, chance for NOL to boom again is almost zero.

New container shipping volume under the order in past 2 years will be 16%. World GDP is only 2 to 3% per year. It doesn' t include the new order of new vessels to order with cheaper price in next 2 years.

" Unfortunately, when companies go bankrupt or when their ships get arrested and sold, they do not go away but continue to trade with lower capital costs, thereby prolonging the depressed freight markets."

This is the real facts. This is like property bubble, once bubble burst, it take decade to recovery. The bad news to NOL is P3 are profitable, when competitors managed to be profitable, they will beating the price and occupy more market share. P3 network is fail but doesn' t mean NOL can survive. Maersk and MSC shipping capacity is equal to G6 total capacity, nothing is changed.

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As we approach midyear 2014, shipping&rsquo s economics remain stuck in the doldrums with little or no recovery in sight. The surplus of ships to cargoes has been aggravated by the delivery of a massive orderbook of new ships that followed the boom markets of the middle of the last decade.

The surplus has affected every market with the possible exception of gas, both LNG and LPG. It has hit the wet and dry bulk and container markets especially hard. The effect has been severe as few ships in these markets generate a profit after operating expenses, debt interest and amortization.

Numerous public companies have gone bankrupt as have many private ones. The German KG funds have been almost completely wiped out and created huge losses for German shipping banks. The average age of the world fleet is at an historic low, meaning it will be around for at least another decade. Unfortunately, when companies go bankrupt or when their ships get arrested and sold, they do not go away but continue to trade with lower capital costs, thereby prolonging the depressed freight markets.

Furthermore, a majority of the fleets in most sectors trade in the spot markets without any period charter cover in the false expectation that markets will recover or secondhand values will increase. This ignores the fact that shipyard capacity remains high, and in countries like Korea and China shipbuilding has now become a strategic industry supported by domestic banks funding the construction phase and government funds backing export credits &ndash all without any secure operating income from charters.

Blind Capital

Unfortunately, this rush to order new ships has been fueled by an influx of new money, both equity and bonds, from private equity and hedge funds that are gambling on rising ship values and not the long-term revenue streams from operations.

The vast majority of ships on order today have no contractual employment and no evidential income other than indications of future ship values referenced back to the boom years of 10 years ago. Some have likened this influx of new money to what Walter Bagehot in the mid-nineteenth century called &ldquo blind capital&rdquo : &ldquo Credulous capital, ignoring risks, flooding into unwise investments.&rdquo

Tellingly, there is no sign of any investment interest from mutual funds or institutional investors such as pension funds or life insurance companies, which are usually averse to short-term gambles. The speculative day traders have fun playing the rumors and the price volatility of the publicly traded companies.

Especially surprising is the activity of some of private equity funds in buying distressed bank debt at marginal discounts. If a shipowner cannot service his existing bank debt, how is he going to service the new owners of the debt when they have much higher expectations of return on their investments than simple bank margins?

It has been said that some of these funds are looking for default so they can convert the loans to equity, take over the ships, and sell them for a profit. The track record of these deals so far is not good, and the current focus on newbuildings only prolongs excess fleet capacity and lower freight rates, which are the key metrics of the shipping industry.

The list of publicly traded shipping companies on U.S. stock exchanges is the worst performing of any sector. Original equity has been emasculated by secondary offerings and huge secured debts that in many cases exceed the current market value of the ships that are the security. In the past 12 months we have seen the emergence of new forms of &ldquo junk bonds&rdquo with double-digit interest rates that rapidly escalate on default and look more like the cash advance lending that proliferates among the poor. This junk is surprisingly not shown as debt in the borrower&rsquo s balance sheets and is ironically termed &ldquo perpetual.&rdquo

No Evidence of Increased Demand

So while new money is finding the shipping industry, what is the outlook for the services it provides? The freight markets for most ship types remain severely depressed because of the excess capacity generated by the newbuilding orders that followed the brief boom of 10 years ago and then faced the financial crises and the global recession that still envelops the world today. Yet it is reported that some $40 billion of newbuilding orders were placed in the first four months of 2014.

This current reckless activity in ordering hundreds of new ships will only extend further the bad markets and push any balancing between supply and demand into the next decade at the earliest. The claims of fuel economies for the new ships will not force earlier scrapping as the older ships have less capital invested in them and can be maintained to operate until they are at least 20 years old.

There is no evidence of any increased demand for shipping, except in the gas sectors, and the newfound resources of oil and gas in the U.S. will have a negative effect on crude oil shipments. This may well be compounded by the new pipelines between Russia and China, the reduction in consumption of gasoline in China, and the expansion of &ldquo fracking&rdquo in Europe. The U.S. will reduce its imports of crude oil by at least 50 percent in the next 10 years and convert its trucking fleets to natural gas by 2025.

It unfortunately will take several years before the current influx of new money faces the reality that it is operating income that makes a business and not the fluctuating values of the operating assets. &ndash MarEx

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Potential? What Potential can NOL has? 16% of new vessels are going to be delivered in next 2 years which imply minimum 1 to 2 years for the industry to suffer except P3. All containers are crazily looking for money to fill their loss and to look for survival.

http://www.maritime-executive.com/article/OPED-The-Shipping-Recovery-That-Never-Arrived-2014-06-04

Lucky03 ( Date: 23-Jun-2014 12:10) Posted:

The shipping industry already learn to live with low freight rate for next 2-3 years. So it is no longer the key consideration to invest in shipping stocks. The key consideration will be cost efficiency and potential corporate activities including expanding alliance network, M&A and privatization. The key is the return should any of these activities materialize vs cost of holding. Expect that the price will stabilize at current level for next few months. I believe the impact of the collapse of P3 is not fully felt yet. The 2 other alliances will likely pick up speed to solidify their advantages during this window of uncertainty not just among themselves but also with port operators who have been threatened should P3 succeeded. Besides, some strategic developments that may be up on hold due to the threat of P3 may avail themselves again and even speeded up. Important to see if NOL has made more progress with cost efficiency when they report their Q2 result early Aug. Once they hit the sweet spot, their potential will be unleashed and we can see some exciting action.

earlybird14 ( Date: 23-Jun-2014 10:54) Posted:

http://www1.chineseshipping.com.cn/en/indices/scfi.jsp

Those shipping journal always very positive, picked up steam???? If there is picked up steam why the freight rate is dropping and demand a rate hike. Don' t be fooled by all these news which always saying rate hiking due to demand, instead, the rate drop till too low and require a wake up call to all shipping company that they need to cut their supply.

So far, only Maersk shouting for rate hike will be materialised like in 2012. So, basically, Maersk seldom do it since 2013, because they are profitable.

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http://www1.chineseshipping.com.cn/en/indices/scfi.jsp

Those shipping journal always very positive, picked up steam???? If there is picked up steam why the freight rate is dropping and demand a rate hike. Don' t be fooled by all these news which always saying rate hiking due to demand, instead, the rate drop till too low and require a wake up call to all shipping company that they need to cut their supply.

So far, only Maersk shouting for rate hike will be materialised like in 2012. So, basically, Maersk seldom do it since 2013, because they are profitable.

Lucky03 ( Date: 20-Jun-2014 19:41) Posted:

WORLD SHIPPING

Carriers seek rate hikes in Asia-Europe, as consumer demand picks up

SHIPPING lines are seeking a general freight rate hike to stick in July on the Asia-Europe trade after prices on services to northern Europe picked up steam.
Thursday, 19.Jun.2014, 22:37 (GMT)
Carriers seek rate hikes in Asia-Europe, as consumer demand picks up
SHIPPING lines are seeking a general freight rate hike to stick in July on the Asia-Europe trade after prices on services to northern Europe picked up steam.

The latest figures from the Shanghai Containerised Freight Index show that freight rates on services from Shanghai to northern Europe increased by US$19 on a week ago to $1,202 TEU.

Prices from Shanghai to the Mediterranean slid $90 week on week to $1,671 per TEU, with reports suggesting this could reflect a decline in utilisation over the Ramadan holidays, reported Lloyd's List.

Freight Investor Services (FIS) broker Richard Ward said: "Carriers will hope that July offers more support than what has been witnessed from the June attempt with the SCFI showing an increase over the past few weeks of just $47 per TEU."

In mid-June 2013 prices to northern Europe stood at $533 per TEU and to the Mediterranean, the SCFI reached $1,202 per TEU. For services to the Mediterranean, the average weekly price stands at $1,550 per TEU, compared with $1,173 last year.

On the transpacific trade, Drewry's Hong Kong-Los Angeles Container Rate Benchmark stands at $1,750 per FEU, the same price as a week ago.

Analysts said they expect "prices to increase over the coming weeks on the back of a peak-season surcharge of $400 per FEU as requested by the rate-recommending group, the Transpacific Stabilisation Agreement.

However, the increase is expected to fade quickly, due to weak pricing discipline by carriers, they said.

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long term long term. Down to below 30cents, I doubt so.

DMG is in play what to do, a lot of disappointments will happen. They are holding insider news, they know what happen. How I wish Gallant is covered by DBS.

think2profit ( Date: 20-Jun-2014 12:04) Posted:

Too bad that the big boss sold, which has dampened the sentiment in Gallant. Those who were caught with too much shares earlier at > 35c should be unwinding without choice to clear the contra. May see 30c again...

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The loss that NOL made cannot be covered by any asset sales. The loss is just too huge, we are talking about billion of loss. In SGX, you can' t find any company can make loss this way but still listed there.

Only reason, again, Temasek.

RoundRound ( Date: 20-Jun-2014 13:27) Posted:

They already tried many ways liao. Buying over APL and later under mounting debts, sold-&-leaseback off their iconic NOL building to raise fund.

Lucky03 ( Date: 20-Jun-2014 13:00) Posted:

If NOL continues to fail to deliver profit, a major restructuring or M&A is needed and taking it private will be easier to execute. On the other hand, if NOL finally turns around, then shareholders should rejoice too.

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Lol...

Leongsan ( Date: 20-Jun-2014 11:38) Posted:

Direct Indomobil

earlybird14 ( Date: 20-Jun-2014 11:28) Posted:

Gallant entry Indomobil on 14 Dec 2012, share price was 28. now is 34.5.

Direct? or not direct? This is market. long term long term... shorting it? You are right if you short it 37 to 38.

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Gallant entry Indomobil on 14 Dec 2012, share price was 28. now is 34.5.

Direct? or not direct? This is market. long term long term... shorting it? You are right if you short it 37 to 38.

Leongsan ( Date: 20-Jun-2014 11:06) Posted:

Gallant entry 5400rup now 4600rup cheaper conversion. Why gallant not direct?

earlybird14 ( Date: 20-Jun-2014 10:03) Posted:

Johor population doesn' t support the project and most of the talents in Johor biggest city, Johor Bahru are working in Singapore. Iskandar project is pushed out due to the BN lossing the control of 2 biggest and developed state, Selangor and Penang in last 2 election and trying to find a new ground for bribe money. Housing development, so far is good(rely on singapore economic) however, industry and economic development are not as good as penang and selangor. Let' see what is going to happen in next few years

The main reason for supporting Gallant Venture is looking forward the opportunity in Indomobil which has 90% above revenue from here. Development of Batam and Bintan are slow which may not has any big impact to the revenue, l won' t put too much hope on this sector since building a airport or aviation center take many years to be materialise, this can only be used for speculating. However, Indomobil are the one to be looking forward, under Salim group control, can Indomobil perform as good as Astra International which is owned by Jardine C& C and achieve the similar profit margin is the one that I am looking forward.

Market cap close to 1.7Billion with about 2 Billion annual revenue and NAV about 40cents above. Gallant Venture definitely is worth for investment. My price is 26.5cents, I won' t say current price 34.5 is a good entry price since I won' t add in any share with this price which doesn' t comply my earlybird principal.

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To retailer shorting, who shorting NOL is not wise, because retail shortist have to pay heavy interest and commission. But for Fund managers or brokers or other BBs who have the special account will be different, they will have absolutely sufficient patient to deal with the shorting giant case like NOL, this is to short a billion market capital company.

I will believe the possibility of right issue is high, short sell now and cover with right in the future soon.

I am not vested and not shorting.

Lucky, you post facts and believe your decision which I respect. But I am kepo to post negative facts is to let new comers to have other thinking and not to mislead by the one who continually posting positive till unreasonable recently.

The fact is NOL content huge risk and current share price doesn' t reflect the real situation that NOL facing.

Lucky03 ( Date: 20-Jun-2014 10:57) Posted:

Are you vested with heavy short positions ?

earlybird14 ( Date: 20-Jun-2014 10:43) Posted:

G6 total capacity is about same as Maersk and MSC. Basically Maersk and MSC are 2 x G6 with same policy and consistency. No matter what G6 do, hardly touching Maersk and MSC margin since G6 are independent organisation with own interest.

Yesterday shorting volume is 1237 lots, increase 50% compared to past 6 days total shorting volume. warning signal for next breakout to new low.

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Breakout to new low will not come in next few week.

NOL will slowly down and move across new low 94, breakout to new low close to 70 to 80, it will happen in next 3 to 6 month, especially NOL fails to deliver again in next coming quarter, market will look at it cash position and heavy debt and punish it heavily.

famouspinky ( Date: 20-Jun-2014 10:52) Posted:

Touch new low, yes. Breakout to new low, no.

earlybird14 ( Date: 20-Jun-2014 10:43) Posted:

G6 total capacity is about same as Maersk and MSC. Basically Maersk and MSC are 2 x G6 with same policy and consistency. No matter what G6 do, hardly touching Maersk and MSC margin since G6 are independent organisation with own interest.

Yesterday shorting volume is 1237 lots, increase 50% compared to past 6 days total shorting volume. warning signal for next breakout to new low.

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G6 total capacity is about same as Maersk and MSC. Basically Maersk and MSC are 2 x G6 with same policy and consistency. No matter what G6 do, hardly touching Maersk and MSC margin since G6 are independent organisation with own interest.

Yesterday shorting volume is 1237 lots, increase 50% compared to past 6 days total shorting volume. warning signal for next breakout to new low.

Lucky03 ( Date: 20-Jun-2014 08:03) Posted:

Thanks, earlybird14. I suppose G6 needs big ships too and given that partners such as NOL is only taking delivery of the big ships starting 2013 and next few years that their effectiveness takes time to materialize.

19th June 2014
Seatrade
Main Menu

G6 Alliance announces port rotations for service expansion

By Charlie Bartlett from London

The G6 Alliance members have released the proposed port rotations for the expansion of Asia-North America West Coast and Trans-Atlantic services.

The move, proposed at the end of 2013, is now undergoing regulatory assessment and, if approved, will start in the second quarter of 2014. The expansion will bring G6?s service offering to 29 routes, covering all three major East-West trade lanes.

?The G6 Alliance monitors market developments closely and is continuously seeking opportunities to improve our service offerings,? the coalition of APL, Hapag-Lloyd, Hyundai Merchant Marine, Mitsui OSK Lines, Nippon Yusen Kaisha and Orient Overseas Container Line said in a statement. ?With the introduction of the Asia-North America West Coast and Trans-Atlantic services, the G6 Alliance will further strengthen its position to meet shippers? demand for more comprehensive, seamless and efficient services with competitive transit times.

?Further, each of the G6 Alliance members will be able to offer its customers significantly improved port-pair connections compared to their previous products.?

The services will operate as follows.

SE1 (South East Asia 1): Singapore ? Chiwan/Shekou ? Kaohsiung ? Los Angeles ? (Manzanillo, Mexico* ? Lazaro Cardenas*) ? Los Angeles ? Yokohama ? Kaohsiung ? Singapore

*only APL and Hapag-Lloyd are participating in these calls

SE2: Laem Chabang ? Cai Mep ? Hong Kong ? Los Angeles ? Oakland ? Hong Kong ? Laem Chabang

SE3: Port Klang - Singapore ? Laem Chabang ? Yantian ? Los Angeles ? Oakland ? Pusan ? Shanghai (Waigaoqiao) ? Ningbo ? Yantian ?Singapore

SC1 (South China 1): Xiamen ? Chiwan/Shekou ? Yantian ? Los Angeles ? Oakland ? Kaohsiung ? Xiamen

SC2: Dachan Bay ? Hong Kong ? Yantian ? Kaohsiung ? Los Angeles ? Kaohsiung ? Xiamen - Hong Kong ? Dachan Bay

CC1 (Central China 1): Shanghai (Waigaoqiao) ? Kwangyang ? Pusan ? Los Angeles ? Oakland ? Pusan ? Kwangyang ? Shanghai

CC2: Ningbo ? Shanghai (Waigaoqiao) ? Los Angeles ? Ningbo

CC3: Qingdao ? Xingang ? Pusan ? Yokohama ? Los Angeles ? Oakland ? (Dutch Harbor*) - Yokohama ? Pusan ? (Naha*) - Qingdao

*only APL is participating in these calls

CC4: Shanghai (Waigaoqiao) ? Ningbo ? Los Angeles ? Oakland ? Shanghai

NP1 (North Pacific 1): Singapore ? Laem Chabang ? Dachan Bay ? Hong Kong ? Yantian ? Vancouver ? Tacoma ? Seattle ? Pusan ? Kaohsiung ? Singapore

NP2: Hong Kong ? Yantian ? Kaohsiung ? Shanghai* ? Pusan ? Tacoma ? Seattle ? Vancouver ? Yokohama ? Pusan ? Kwangyang ? Hong Kong

*terminal to be confirmed

NP3: Qingdao ? Ningbo ? Shanghai (Yangshan) ? Pusan ? Vancouver ? Tacoma ? Vancouver ? Tokyo ? Nagoya ? Kobe ? Qingdao

AX1 (Atlantic Express 1): UK port* ? Rotterdam ? Hamburg ? Le Havre ? New York ? Norfolk ? UK port*

*terminal to be confirmed

AX2: Southampton ? Antwerp ? Bremerhaven ? Le Havre ? Veracruz ? Altamira ? Houston ? New Orleans ? Charleston ? Southampton

AX3: Antwerp ? Bremerhaven ? Southampton ? Charleston ? Port Everglades ? Houston ? Savannah ? Norfolk ? Antwerp

PA1 (Pacific Atlantic 1): Shanghai* ? Pusan ? Kobe ? Nagoya ? Tokyo ? Tacoma ? Vancouver ? Oakland ? Los Angeles ? Balboa** ? Panama Canal ? Manzanillo, Panama ? Savannah ? Norfolk ? New York - Halifax ? Southampton ? Antwerp ? Hamburg ? Rotterdam ? Halifax ? New York ? Norfolk ?Savannah ? Manzanillo, Panama ? Panama Canal ? Los Angeles ? Oakland ? Yokohama ? Shanghai

*terminal to be confirmed

** to be confirmed

PA2: Kaohsiung ? Pusan ? Kobe ? Tokyo ? Balboa ? Panama Canal ? Manzanillo, Panama ? Miami ? Jacksonville ? Savannah ? Charleston ? New York ? Rotterdam ? Bremerhaven ? UK port* ? Le Havre ? New York ? Norfolk ? Charleston ? Manzanillo, Panama ? Panama Canal ? Balboa ? Los Angeles ? Oakland ? Tokyo ? Kobe ? Kaohsiung

*terminal to be confirmed

Published inAsia, Europe, Containers, Port & Logistics, Ship Operations

earlybird14 ( Date: 20-Jun-2014 06:12) Posted:

P3 network formed in 2013. So basically, p3 network rejection will not has any directly benefit to G6. It just maintain present situation without worsening the market. P3 still making profit, G6 still struggling, NOL still making the loss.

The rejection from china rescue NOL book not to be worsen further only

x 0

Good price today, looking for 10% profit here, go gold!

earlybird14 ( Date: 13-Jun-2014 10:34) Posted:

Gold looking good. Plus inflation in past few years printing, now is good price but gold is really a slow return investment.

x 0

Johor population doesn' t support the project and most of the talents in Johor biggest city, Johor Bahru are working in Singapore. Iskandar project is pushed out due to the BN lossing the control of 2 biggest and developed state, Selangor and Penang in last 2 election and trying to find a new ground for bribe money. Housing development, so far is good(rely on singapore economic) however, industry and economic development are not as good as penang and selangor. Let' see what is going to happen in next few years

The main reason for supporting Gallant Venture is looking forward the opportunity in Indomobil which has 90% above revenue from here. Development of Batam and Bintan are slow which may not has any big impact to the revenue, l won' t put too much hope on this sector since building a airport or aviation center take many years to be materialise, this can only be used for speculating. However, Indomobil are the one to be looking forward, under Salim group control, can Indomobil perform as good as Astra International which is owned by Jardine C& C and achieve the similar profit margin is the one that I am looking forward.

Market cap close to 1.7Billion with about 2 Billion annual revenue and NAV about 40cents above. Gallant Venture definitely is worth for investment. My price is 26.5cents, I won' t say current price 34.5 is a good entry price since I won' t add in any share with this price which doesn' t comply my earlybird principal.

Leongsan ( Date: 20-Jun-2014 09:40) Posted:

What is the hurry time will tell. Infrastructure development is not there and laws are not in place. Behind Iskandar by decades.

Peter Lim has out grown he dependency on Salim. Remember Wonder horse? lol

earlybird14 ( Date: 19-Jun-2014 10:56) Posted:

No ideal, I am not good in chart but risk of rupiah depreciation recently is a major risk. Let' s see how. Shorting in Gallant is also high risk.

long term long term...