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Nam Cheong
Heero78
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06-Mar-2015 17:17     
 
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Nam cheong vessels are sub-contracted to yards in China at low cost. So no surprise that China start building...But business in malaysia/indonesia should still has to go thru Nam Cheong. Very unlikely that China can bypass Nam Cheong or Ezion.

Aiyah, nowadays China produce everything in this world. Dun bring China in. It is nothing new.
 

jamesng      ( Date: 06-Mar-2015 17:02) Posted:



I do believe that China is currently building oil rig at low price and other ships as well and hence flooding the markets.....

Keppel Corp is no longer the largest oil rig builder in the world now

VeryNewcomer      ( Date: 06-Mar-2015 13:37) Posted:



I didn' t see any ship outside my door when I woke up this morning. Did you?

You can' t believe everything written in this forum.


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jamesng
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06-Mar-2015 17:02     
 
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I do believe that China is currently building oil rig at low price and other ships as well and hence flooding the markets.....

Keppel Corp is no longer the largest oil rig builder in the world now

VeryNewcomer      ( Date: 06-Mar-2015 13:37) Posted:



I didn' t see any ship outside my door when I woke up this morning. Did you?

You can' t believe everything written in this forum.

jamesng      ( Date: 05-Mar-2015 21:02) Posted:



On another thread on Ezion, it was said that China flooded the market with ships of all kind. Are these going to affect Nam Cheong and companies like Vard? Can some experts advise?


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sun233
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06-Mar-2015 17:02     
 
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Shortist trying their luck! I notice this happens especially when ex date not announced. Then they swoop in to buy. $0.015 is damn good.
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sun233
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06-Mar-2015 16:58     
 
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Friend, Pay date is already announced. Only ex date is not.
Status Proposed
Ann Date 12/02/2015
Ex Date  
Rec Date  
Pay Date 01/05/2015
Freq Annually
Pay Type Cash
Dividend Rate 0.015000
Tax Rate  
Curr SGD
Ind Mandatory
Exch SES
Reinv Price


sheerluck      ( Date: 06-Mar-2015 16:11) Posted:



Market is so used to NC announcing contract wins one every 1-2 month which it hasn' t been doing since the start of 2015.   NC dividend annoucement is likely to be late April and payout mid-May based on last year so lots of time for shortists to profit.   However, at 30cts, it is pretty tempting as well.   Maybe time to start accum.

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sheerluck
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06-Mar-2015 16:11     
 
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Market is so used to NC announcing contract wins one every 1-2 month which it hasn' t been doing since the start of 2015.   NC dividend annoucement is likely to be late April and payout mid-May based on last year so lots of time for shortists to profit.   However, at 30cts, it is pretty tempting as well.   Maybe time to start accum.
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losemoneyking
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06-Mar-2015 15:34     
 
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 Alert Admin 		As long as all longist hold on to it, will kill all the shortist n rewarded handsomely.

Heero78      ( Date: 06-Mar-2015 13:42) Posted:



nam cheong very heavily attacked by shortist these days. Look at the past statistic

5/March - 53.53%

4/March - 38.65%

3/March -29.23%

2/March - 40.49%

27/Feb - 20.50%

26/Feb - 51.32%

Just hold tight and remember that the heavier it is shorted, the stronger rebound wil occurs. The gold question is when. I also tak tahu.
 

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tobias_i_d
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06-Mar-2015 13:52     
 
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Nam Cheong has strong fundamentals... Time will tell... 

Heero78      ( Date: 06-Mar-2015 13:42) Posted:



nam cheong very heavily attacked by shortist these days. Look at the past statistic

5/March - 53.53%

4/March - 38.65%

3/March -29.23%

2/March - 40.49%

27/Feb - 20.50%

26/Feb - 51.32%

Just hold tight and remember that the heavier it is shorted, the stronger rebound wil occurs. The gold question is when. I also tak tahu.
 

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Heero78
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06-Mar-2015 13:42     
 
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nam cheong very heavily attacked by shortist these days. Look at the past statistic

5/March - 53.53%

4/March - 38.65%

3/March -29.23%

2/March - 40.49%

27/Feb - 20.50%

26/Feb - 51.32%

Just hold tight and remember that the heavier it is shorted, the stronger rebound wil occurs. The gold question is when. I also tak tahu.
 
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VeryNewcomer
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06-Mar-2015 13:37     
 
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I didn' t see any ship outside my door when I woke up this morning. Did you?

You can' t believe everything written in this forum.

jamesng      ( Date: 05-Mar-2015 21:02) Posted:



On another thread on Ezion, it was said that China flooded the market with ships of all kind. Are these going to affect Nam Cheong and companies like Vard? Can some experts advise?

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jamesng
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05-Mar-2015 21:02     
 
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On another thread on Ezion, it was said that China flooded the market with ships of all kind. Are these going to affect Nam Cheong and companies like Vard? Can some experts advise?
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sun233
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05-Mar-2015 20:24     
 
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I think sooner...just my two cents worth......... 0.35cts is not bad, someone earlier posted his average is 0.45. Count yrself lucky......... better to dollar cost average and bring it down. It seems to me that it went up to 0.355 just recently....and it might see that again unless some drastic news like a Grexit happens. Dividend chasers will start coming in after other counters have gone ex div. Right now quite a few div plays are moving.

VeryNewcomer      ( Date: 05-Mar-2015 18:12) Posted:



My guess is after 3 new orders and 2 good consecutive quarters, but it' s just my guess.

losemoneyking      ( Date: 05-Mar-2015 15:05) Posted:

When this counter start to move? Stucked at 35 cents. Dunno when can breakeven
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linbei
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05-Mar-2015 19:31     
 
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 Alert Admin 		soon。 ISIS torched the oilfield at Tirisit.oil price going to shoot up.
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VeryNewcomer
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05-Mar-2015 18:12     
 
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My guess is after 3 new orders and 2 good consecutive quarters, but it' s just my guess.

losemoneyking      ( Date: 05-Mar-2015 15:05) Posted:

When this counter start to move? Stucked at 35 cents. Dunno when can breakeven
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losemoneyking
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05-Mar-2015 15:05     
 
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 Alert Admin 		When this counter start to move? Stucked at 35 cents. Dunno when can breakeven
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sun233
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05-Mar-2015 10:39     
 
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Agree with you on all points. Their shallow water,chartering business and their recent tie up with Marco Polo is a plus plus. Looks to me like they are taking into consideration all possiblities and still trying to grow their business. Fingers crossed that when they decide to announce their ex div date volume will pick up. I noticed buyesra are already coming in. $0.015 dividend payment this time round is an improvement from last year. Cheers

VeryNewcomer      ( Date: 04-Mar-2015 16:15) Posted:



I' ve always felt OSK--DMG reports are over optimistic. However, they are still somewhat valid and even provide interesting perspectives from time to time. Quite a refreshing change from the usual doomsday comments we read everyday and everywhere about the current oil crisis.

Nam Cheong is still primarily a shipyard, even though they have ventured into chartering. For a shipyard building shallow water OSVs, a USD500mil order book is very impressive. It will be a big help to tide over this period of depressed oil prices. Besides, they are also reaching out to a more diversified customer base instead of being primarily Malaysia-driven.

We' ll be seeing more spot and short term charters from now. Nam Cheong' s BTS model will definitely be a big advantage, even though it' s also weighs down their resources. As to whether these will translate into better margins and profits, it will depend on the skill of the management. I seek comfort from the outstanding track record of the company and the fact that dividends have increased.

Before oil prices tanked, people have been complaining that they keep missing the chance of buying Nam Cheong and the prices kept running up, from about $0.20 to $0,50 all within 2 years. Today' s price of $0.31 is also Jan 2014' s price, when Nam Cheong was a smaller company, had lower revenue, smaller order book, weaker financial strength and giving lower dividends. With a longer term perspective, this presents a good opportunity to nibble some. We do not know where the bottom is, so dollar cost averaging is strongly recommended.

sun233      ( Date: 03-Mar-2015 20:32) Posted:



What do you think of this? Facinating....

Healthy activity will continue to be seen in the shallow water, cabotage-protected space.

Nam Cheong celebrates a good year, with core PATMI, up 56% YoY riven by a higher number of vessels delivered in FY14 (24 vessels vs 20 vessels in FY13). The final quarter appeared weaker on the YoY and QoQ comparisons due to a higher mix of lower-margin build-to-order vessels, conservative provisioning, fair value losses on derivatives of MYR16.3m, and a higher amount of commissions paid to ship brokers.

According to a report by OSK-DMG, in good times, owners order vessels well ahead of delivery, paying a lower margin. Now, owners are likely to wait for more certainty on contracts, and pay a higher premium for vessels closer to their delivery date. Nam Cheong&rsquo s experience from 2009-2011 bears this out, with margins maintained at 19-20% even as revenues fell. Today, the orderbook stands at a record MYR1.7bn, and OSK-DMG continues to expect both revenue growth and a stable c.18% shipbuilding margin.

Nam Cheong has witnessed stellar earnings growth promoting the standardisation theme. Today, the low oil-price environment will further prompt oil majors to adopt a &ldquo cost structure standardisation&rdquo strategy in a bid to cut costs. Together with vessel owners&rsquo preference for shorter lead times, analysts envisage Nam Cheong extending its dominant industry position as oil majors&rsquo requirements and vessel owners&rsquo preferences finally begin to align. 


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Heero78
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05-Mar-2015 08:47     
 
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not necessary. Not every country will buy oil from ISIS, sure will get condemnation. Just like ask you buy stolen good in SG, u dare?

So the event of ISIS took over 2 oil field will definitely cut down oil production

linbei      ( Date: 04-Mar-2015 22:40) Posted:

very strange. Isis take control of 2 Syria oil field push oil price up.I thou they are the one selling cheap cheap oil
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prince90
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04-Mar-2015 22:47     
 
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sun233      ( Date: 15-Feb-2015 19:56) Posted:



Dunno. Oil back up. But maybe.......... just maybe following article might help. Business Times on Sat.

Dividend also good.

14 Feb5:50 AM


Nam Cheong

Add

CIMB Research | Feb 13 |

Feb 13 close:  S$0.32

 

Target price:  S$0.39

Nam Cheong' s 4Q14 core net profit of RM49.1m (-30 per cent y-o-y) was in line with our and consensus expectations, at 16 per cent of our full-year forecast (FY14 core net profit at 97 per cent). FY14 represented its third consecutive record-breaking year. With softer demand from Malaysian and Indonesian waters in 2015, we now do not expect this record-breaking streak to continue, and hence, cut our FY15-16 EPS by 7 to 19 per cent.

That said, we expect Nam Cheong to uphold the current sales momentum and achieve similar profits for 2015-17 vis-à -vis 2014, which, given the environment, would be a sterling achievement.

We lower our target price, still based on 7.5 times CY16 P/E (1 s.d. below the five-year mean of small/mid-cap oil services companies). Catalysts could come from stronger-than-expected vessel sales and earnings.
 


losemoneyking      ( Date: 13-Feb-2015 21:05) Posted:

When den can hit 40 cents? Range?
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linbei
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04-Mar-2015 22:40     
 
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 Alert Admin 		very strange. Isis take control of 2 Syria oil field push oil price up.I thou they are the one selling cheap cheap oil
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VeryNewcomer
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04-Mar-2015 16:15     
 
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I' ve always felt OSK--DMG reports are over optimistic. However, they are still somewhat valid and even provide interesting perspectives from time to time. Quite a refreshing change from the usual doomsday comments we read everyday and everywhere about the current oil crisis.

Nam Cheong is still primarily a shipyard, even though they have ventured into chartering. For a shipyard building shallow water OSVs, a USD500mil order book is very impressive. It will be a big help to tide over this period of depressed oil prices. Besides, they are also reaching out to a more diversified customer base instead of being primarily Malaysia-driven.

We' ll be seeing more spot and short term charters from now. Nam Cheong' s BTS model will definitely be a big advantage, even though it' s also weighs down their resources. As to whether these will translate into better margins and profits, it will depend on the skill of the management. I seek comfort from the outstanding track record of the company and the fact that dividends have increased.

Before oil prices tanked, people have been complaining that they keep missing the chance of buying Nam Cheong and the prices kept running up, from about $0.20 to $0,50 all within 2 years. Today' s price of $0.31 is also Jan 2014' s price, when Nam Cheong was a smaller company, had lower revenue, smaller order book, weaker financial strength and giving lower dividends. With a longer term perspective, this presents a good opportunity to nibble some. We do not know where the bottom is, so dollar cost averaging is strongly recommended.

sun233      ( Date: 03-Mar-2015 20:32) Posted:



What do you think of this? Facinating....

Healthy activity will continue to be seen in the shallow water, cabotage-protected space.

Nam Cheong celebrates a good year, with core PATMI, up 56% YoY riven by a higher number of vessels delivered in FY14 (24 vessels vs 20 vessels in FY13). The final quarter appeared weaker on the YoY and QoQ comparisons due to a higher mix of lower-margin build-to-order vessels, conservative provisioning, fair value losses on derivatives of MYR16.3m, and a higher amount of commissions paid to ship brokers.

According to a report by OSK-DMG, in good times, owners order vessels well ahead of delivery, paying a lower margin. Now, owners are likely to wait for more certainty on contracts, and pay a higher premium for vessels closer to their delivery date. Nam Cheong&rsquo s experience from 2009-2011 bears this out, with margins maintained at 19-20% even as revenues fell. Today, the orderbook stands at a record MYR1.7bn, and OSK-DMG continues to expect both revenue growth and a stable c.18% shipbuilding margin.

Nam Cheong has witnessed stellar earnings growth promoting the standardisation theme. Today, the low oil-price environment will further prompt oil majors to adopt a &ldquo cost structure standardisation&rdquo strategy in a bid to cut costs. Together with vessel owners&rsquo preference for shorter lead times, analysts envisage Nam Cheong extending its dominant industry position as oil majors&rsquo requirements and vessel owners&rsquo preferences finally begin to align. 

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sun233
Elite
03-Mar-2015 20:32     
 
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What do you think of this? Facinating....

Healthy activity will continue to be seen in the shallow water, cabotage-protected space.

Nam Cheong celebrates a good year, with core PATMI, up 56% YoY riven by a higher number of vessels delivered in FY14 (24 vessels vs 20 vessels in FY13). The final quarter appeared weaker on the YoY and QoQ comparisons due to a higher mix of lower-margin build-to-order vessels, conservative provisioning, fair value losses on derivatives of MYR16.3m, and a higher amount of commissions paid to ship brokers.

According to a report by OSK-DMG, in good times, owners order vessels well ahead of delivery, paying a lower margin. Now, owners are likely to wait for more certainty on contracts, and pay a higher premium for vessels closer to their delivery date. Nam Cheong&rsquo s experience from 2009-2011 bears this out, with margins maintained at 19-20% even as revenues fell. Today, the orderbook stands at a record MYR1.7bn, and OSK-DMG continues to expect both revenue growth and a stable c.18% shipbuilding margin.

Nam Cheong has witnessed stellar earnings growth promoting the standardisation theme. Today, the low oil-price environment will further prompt oil majors to adopt a &ldquo cost structure standardisation&rdquo strategy in a bid to cut costs. Together with vessel owners&rsquo preference for shorter lead times, analysts envisage Nam Cheong extending its dominant industry position as oil majors&rsquo requirements and vessel owners&rsquo preferences finally begin to align. 
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