S chips – Any audit issues on the following companies?

March 25, 2011 el15

I believe most readers are increasingly worried on the recent spate of audit issues encompassing the S chips such as China Gaoxian, Hong wei, Hongxing etc. I have contacted some of the S chips companies’ management / Investor Relations regarding whether the auditors have signed off the financials. Below are my findings. Anchun – Likely to be signed in the couple of weeks. No major issues flagged out by auditors. China Animal – Auditors have already signed off. Audited annual report already uploaded onto SGX Masnet. China Taisan – According to CIMB research report, they mentioned that the auditors have already signed off the statements. Eratat […]

Technical analysis on Swiber

March 23, 2011 el15

Pursuant to my write-up on Swiber on 24 Dec 2010 where I mentioned that Swiber is likely to announce some contracts during the seasonal award season from Dec to Mar, Swiber finally started to announce some contracts since 10 Mar 2011. Table 1: Contract announcements since 10 Mar 2011 S/No Contract Announcement Date Contract size (US$m) Remarks 1 22 Mar 11 US$27m 2 11 Mar 11 US$125m This was the bid whereby Swiber has contention with India’s Oil and Natural Gas Corporation. Eventually, Swiber managed to win the contract. 3 10 Mar 11 US$34m Source: Ernest’s compilations Due to […]

Anchun – In a sweet spot

March 20, 2011 el15

Personal opinion on Anchun 18 Mar 11 Pursuant to the short write up on Anchun on 14 Feb, Anchun has dipped from $0.215 on 14 Feb 11 to $0.180 on 18 Mar 11, in tandem with the slide in the equity markets, especially in the small caps. For new clients who have not read my previous write up on Anchun, I have included a description on Anchun below. Description of Anchun Anchun is a leading integrated chemical systems engineering and technology solutions provider to the PRC petrochemical and chemical industries, in particular, manufacturers of ammonia and methanol based products. It has […]

Some japanese stocks for reference only

March 20, 2011 el15

Dear readers, Here are some of the Japanese stocks in the real estate and construction sector. List is not exhaustive and put forth for reference only. Table 1: List of Japanese stocks in the real estate and construction sector Short Name Sector Cur Last Price Analyst Consensus Px Chg from consensus TP Tact Home Real Estate Investment & Servi JPY 60,700 148,000 143.8% Arnest One Corp Real Estate Investment & Servi JPY 775 1,530 97.4% Haseko Construction & Materials JPY 60 115 91.7% Hajime Construct Real Estate Investment & Servi JPY 1,782 3,300 85.2% Nisshin Fudosan Real Estate Investment & […]

List of dividend yielding stocks with mkt cap >S$900m

March 17, 2011 el15

Dear readers, Below is a list of Singapore listed equities with a market cap >S$900m, sorted by dividend yields as of 17 Mar 11. I have brought down the criteria to S$900m as stks have been hurt by the recent sell off in the market. For your reference. List of Singapore listed equities with a market cap >S$900m, sorted by dividend yields Short Name Cur Last Price Analyst Consensus Px Chg from consensus TP 52 Wk High 52 Wk Low Adj Mkt Cap (S$m) 2011F PE 2010F Div Yield Potential (cap gain + div yield) Mapletree Log Tr SGD 0.84 1.06 […]

Fuxing’s share price dipped 12% after good results

March 13, 2011 el15

Fuxing announced its 4QFY10 results on 1 Mar 11, after trading hours. Despite a good set of results, Fuxing has slid 12% from $0.170 on 1 Mar 11 to $0.150 on 11 Mar 11 on lower than average volumes (except for one day – 7 Mar 11). So what constitutes the fall in the share price? Some potential “reasons” to the drop in share price Besides the poor market sentiment relating to S chips (especially after the audit issues on China Hongxing and Hongwei etc), I shall hazard some guesses to the reasons why there is a drop in Fuxing’s […]