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YZJ Shipbldg SGD
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Cruising with the ship ..Yangzijiang
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daffytlh
Veteran |
04-Jun-2014 08:37
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how come got 2167 lots of yzj shares being transacted marked X in poems first thing? |
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Observers
Elite |
04-Jun-2014 08:25
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Everyone calls this a ship building company, but for some reason I see this more as a banking corporation. Anyway, gathering what I know of Chairman Ren from all his speeches at AGMs since 2009, I believe he only go into things he think his team can emerge as the best in the industry, not in terms of size as in the biggest, but in terms of quality and profit margin. |
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spore1
Supreme |
03-Jun-2014 23:10
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still holding up well above $1.00 . It no further bad news then is more likely that it may hover between $1.01 - $1.08 before setting the next direction. sporeshare.blog spot.sg/2014/05/yzj.html |
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WanSiTong
Supreme |
03-Jun-2014 21:04
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Yangzijiang Shipbuilding - Running a financing business is not easy Written By Stock Fanatic on Tuesday, June 3, 2014 | 3.6.14
&bull Development to weigh on stock sentiment
&bull Difficulties in using shares as collateral
What happened
Following news reports that Yangzijiang Shipbuilding&rsquo s (YZJ) Chairman, Mr. Ren Yuanlin, has been accused of illegal activities by Tianjin Guoheng Railway (Tianjin), YZJ&rsquo s share fell 10.6% last Friday but subsequently rose 3.0% to close at S$1.04 yesterday after Mr. Ren dismissed the allegations. Mr. Ren had acquired 12% equity in Tianjin in Jan through one of his controlling companies, Liyuan Investment, and became the largest shareholder. Liyuan tried to reconstitute Tianjin&rsquo s board, but faced resistance, and we subsequently saw this recent development. On Liyuan&rsquo s part, it has confidentially submitted its rebuttals to these allegations to the Shenzhen Stock Exchange. Mr Ren refers to these allegations as &ldquo mischievous&rdquo , and calculated to damage him and thwart Liyuan&rsquo s corporate objectives in relation to Tianjin. Meanwhile, no allegations have been made against YZJ.
What we think
Given the limited information and the possibility that Tianjin may or may not come up with proof substantiating its claims, it is not up to us to ascertain the veracity of the allegations. However, a protracted battle may weigh on the sentiment of the stock. More importantly, this development goes to show the difficulty in controlling companies that may land on YZJ&rsquo s plate in the future by virtue of its financing business.
Technical Analysis
Re-pricing YZJ
We value YZJ using the sum-of-parts method and ascribe a 0.5x P/B to the group&rsquo s held-to-maturity assets.
Chinese banks are currently trading at about 0.7x blended FY14/15F P/B and we believe that
1) YZJ&rsquo s shorter track record in the financing business and
2) its likely less developed system of credit control compared to licensed Chinese banks warrant a greater discount.
Meanwhile, Chinese regulators have also issued stricter rules on interbank financial transactions. Reforms, while necessary, could lead to a &ldquo turbulent period in which funding could dry up as the domestic market struggles to re-price risk&rdquo , to borrow the words of S& P. As such, we lower our fair value estimate from S$1.29 to S$1.04, and downgrade our rating to HOLD. (Read Report)
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hem2998
Veteran |
03-Jun-2014 21:00
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One broker say up..one say down...
If they are at odds...we are collateral damage |
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cheongsl
Master |
03-Jun-2014 20:30
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DBS Equity Research Yangzijiang - Selldown seems overdone BUY on weakness, TP unchanged at S$1.55
Share price of Yangzijiang fell 11% on headlines that CEO Mr. Ren is under investigation for misconduct relating to his personal investment in China-listed Tianjin Guoheng Railway Holding (Guoheng). Yangzijiang has released announcement to clarify that the allegations are against Mr Ren and not Yangzijiang. In addition, Mr. Ren has also reassured shareholders that the accusations are unfounded and he is taking necessary actions to set matters straight. We believe that the selldown on Yangzijiang seems overdone. Valuation has fallen to an attractive 6x FY14F PE and 1.0x P/BV following the knee-jerk reaction to the news last Friday, presenting buying opportunities for investors who remain positive on Yangzijiang' s fundamentals. Maintain BUY, target price S$1.55.
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matrixxx
Senior |
03-Jun-2014 19:46
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Yangzijiang (YJZ): OCBC downgrades the stock to a Hold rating and lowered TP to $1.04 (from $1.26), following Chinese news reports that Yangzijiang Shipbuilding?s (YZJ) Chairman, Mr. Ren Yuanlin, has been accused of illegal activities by Tianjin Guoheng Railway Holding (Tianjin). This development means that a protracted battle may weigh on the sentiment of the stock. More importantly, this development only goes to show the difficulty in controlling companies that may land on YZJ?s plate in the future by virtue of its financing business. Based on the TP, house ascribed a 0.5x P/B on YZJ?s held-to-maturity assets. | ||||
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ascend88
Master |
03-Jun-2014 16:36
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remember the court case here also BAKER TECHNOLOGY NEWS FLASH Sembcorp Marine loses fight for remaining 15% stake in PPL Shipyard. June 01, 2012 Sembcorp Marine Ltd. (&ldquo SembMarine&rdquo ) has lost its legal fight with PPL Holdings (&ldquo PPLH&rdquo ) for a 15% stake in PPL Shipyard. High Court Judge Tay Yong Kwang had dismissed Sembcorp Marine Ltd. claims in their entirety. Justice Tay also allowed some of the counterclaims of the defendants &ndash PPLH and its subsidiary E-Interface Holding ruling that Mr. Anthony Aurol &ndash was not validly removed as a director of PPL Shipyard. PPLH is owned by Baker Technology Limited (&ldquo Baker Technology&rdquo ) and in turn, PPLH owns a 15% stake in PPL Shipyard, which was at the heart of this dispute. The above legal battle began in 2010 after Baker Technology agreed to sell PPLH to a consortium which included a Chinese firm Yangzijiang Shipbuilding (&ldquo YZJ&rdquo ) for US$155 million. The result of the sale would make the consortium the owner of the remaining 15% stake in PPL Shipyard. Industry watchers had previously observed that SembMarine might have been nervous of being in a partnership controlled by external parties and not by its own choosing. |
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ascend88
Master |
03-Jun-2014 16:27
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In February 2010, Buffett surprised the markets by buying Burlington Northern Santa Fe Railway, which used to trade under the symbol &ldquo BNI.&rdquo Buffett had slowly and quietly been building his stock in Burlington since 2006, amassing 22.6% of the outstanding shares, until he finally bought up the remaining 77% in an all stock deal. Buffett paid $100 per share for Burlington Northern, which had been trading around $77 before the announcement. And why not? He still only paid $0.89 for every $1 of assets on Burlington&rsquo s books&hellip a classic Warren Buffett deal. You know he&rsquo d have to get a good price to undertake the largest deal in Berkshire Hathaway&rsquo s history. But why&rsquo s he betting so big on the railroad industry? It seems to go against common thinking that the rail-freight shipping industry is doing well. After all, at the time.
But then again, that&rsquo s exactly why Warren Buffet decided to buy. Prior to his purchase, the rail industry had seen its overall volumes decrease. And most considered railroads behind the times, slow innovators, and in an industry that had little power to increase profit margins. Now they are proving just the opposite. It&rsquo s a simple fact that a healthy economy ships goods&hellip lots of them. Now that we&rsquo re in the early stages of a recovery, railways are set for a surge. Rail: The Economical Alternative to Trucking There are more than 173,000 miles of track in North America, with 150,000 miles in the United States alone. As an industry, it&rsquo s enormous, generating around $40 billion in annual revenues. Some of that revenue is made by moving large chunks of this country&rsquo s grain harvest and inter-city freight. That&rsquo s more than any other means of freight transportation. Railroads also carry a significant majority of the nation&rsquo s coal, which provides more than half of the nation&rsquo s electricity. As our power demands increase, so will the coal companies&rsquo demand for shipping. To be sure, trains are better than trucks&hellip One standard railcar can hold up to 100 tons of densely packed freight. To ship that much by truck would take four standard tractor-trailers. This fuel efficiency allows a train to haul one ton of freight 423 miles on one gallon of diesel. As fuel prices go up, this efficiency will only make rail more competitive to alternative shipping options. In fact, many trucking companies use rail freight for their cost savings. (UPS &ndash a shipping company usually associated with trucking &ndash is the railroad industry&rsquo s biggest customer.) Truckers, forced to raise their prices by rising fuel costs, are finding themselves undercut by rail freight costs. Railroads are in a unique position of being able to increase their pricing to press their cost advantage and still remain a less expensive alternative to trucking. Knowing all of that, it' s no shock that 2011 was an excellent year for U.S. railroads across the board when it came to revenue. Each of them, from Union Pacific to Kansas City Southern, reported double digit growth year-on-year in that department. |
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ascend88
Master |
03-Jun-2014 16:12
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buy railway....WB also bought railway.... |
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chessmaster71
Member |
03-Jun-2014 14:51
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Base on pass 3 days trade volume, the stocks shall go back to 1.12. The tug-of-war between tian-jiang & Ren will continue if it is not political but just commercial matter. The reactions for both sides is expected. Other countries buisnessmen do things is not like singapore follow rules and instruction strictly. They try all ways to fight for survival or kill each other. |
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halleluyah
Supreme |
03-Jun-2014 11:20
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resistent 1.06
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ahmah00
Senior |
03-Jun-2014 11:19
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I see the sell queue at 1.06 eaten up by buyers, then someone else top-up the sell queue again at 1.06. Like the sellers have a lot to sell at 1.06. Is it distribution time? |
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kyrie100
Member |
03-Jun-2014 11:17
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Well...it' s moving up still.... |
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cbdoctor
Member |
03-Jun-2014 10:20
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YZJ is a government owned company. It will not gone burst. However, in China anything can happen either expected or not. Keep our fingers crossed. This is a progressive counter. It may worth the risk if you want. I will wait for the tide to settled. |
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hem2998
Veteran |
03-Jun-2014 09:56
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the stock may not have gone down but it has yet to go back to its pre-allegations levels. that is some cause for concern. not instillinng any fear here. Just makinng a point. |
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jj7007
Veteran |
03-Jun-2014 09:19
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Mate, I wouldn' t say many are doomsayer except for some silly 40c comments. Alot of the argument are logical and hold water. No matter how sound a company is, with the SSH being in trouble and if convicted can have a big effect on the counter. In that moment, all fundatmentals can be bullshit especially if proven of book cooking. Stock market are not for the bravehearted ppl, they belong to the casino. I know many bravehearted ppl telling their tales but the truth is they are holding onto many counters that are worthless and changed names so many times. The winners are those that protect their $ and limit their risk, not those seeking a punt. Therefore ppl like myself prefer to be cautious cuz we have seen many better companies gone under. Due that this reason, I can even buy back at 1.12 and still it' s a gain for me cuz I sold high, therefore I can room to choose my entry according to the risk i want to take. Many are still stuck and thinking if they can or should average.
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Ronron
Member |
03-Jun-2014 07:50
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The silence of the doomsayers. These people make sweeping statements without considering the facts of the company. I did told u that once some "news" comes in, some doomsayers will pronounce doom and gloom. This is because they don't study business models and neither do they understand business outlook. They have got bitten by S-chips before, yet instead of becoming more savvy to detect scams, they have learnt nothing but to avoid S-chips totally and spread that fear to pple. So sad for them. Stock market is not for the faint hearted but for the wise and bravehearted pple. | ||||
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steven080967
Senior |
03-Jun-2014 07:41
Yells: "careful trader/investor" |
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no news this morning, checked GSX and google on Mr Ren Yuanlin and Tianjin Guoheng. no news is good news. YZJ is fundamentally the same company it was before and after last Friday. i am anticipating this baby slowly move back up to $1.10 - $1.13. Giddyup! YZJ |
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cheongsl
Master |
03-Jun-2014 07:23
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Dear matrixxx, Are you suggesting that the forumer are lacking of knowledge, SMRT are being investigated for insider trading this is only happening recently just last week, but your post are prising the company performance have being hidden in your post the investigation of insider trade. Are your intension to invide people to buy up your share when the insider trading really happen and the share price plunge. but in Yangzijiang the news is not even related to the componay sales, marketing, insider trade, you slamp like it is happening, talking about loss of confidence and posting a false imaging the idea is very clear for normal thinker I believe.
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