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221-240 of 1048
I think today 117 is max, short to buy back later
Contratrader ( Date: 16-Jul-2021 13:34) Posted:
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Should be able
Contratrader ( Date: 16-Jul-2021 13:34) Posted:
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Tag along with Rh...bought 112 chao 116...see can buy back again..
good trading range..
good trading range..
Come already (sold)
eyesontrade ( Date: 16-Jul-2021 13:23) Posted:
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coming..........
wah if so accurate all calls reach the exact target price life will be beautiful.
well at the current price it' s at least on the way there.
slow and steady. stay safe and all the best.
well at the current price it' s at least on the way there.
slow and steady. stay safe and all the best.
nott1965 ( Date: 15-Jul-2021 09:26) Posted:
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someone is selling down 1-bid at 100shares....likely hoping price will come down. Interesting to see...personal opinion is the counter willbe bought up soon
Retaiers also must play their part, dun buy BBs are unable to unload to them. Im I right to say that?
nott1965 ( Date: 15-Jul-2021 10:16) Posted:
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ST dhould ensure all these analysts declare if they had been paid or have a stake im the vompamied they are recommending
nott1965 ( Date: 15-Jul-2021 09:31) Posted:
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Look like shortsell & distribution
Price already up so much than give recomendation, a bit too late BBs probably start to distributing now
Can' t help but wonder if he is paid by someone who wants to dump to write? Why else would he wants to write about a loss making company when there are so many other more profitable companies?
TraderBen ( Date: 15-Jul-2021 09:23) Posted:
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He recommended $0.9. Those who chased till $0.6 all died
QueenMaya ( Date: 15-Jul-2021 09:22) Posted:
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featured in ST doesnt mean anything good. becuase this is a OPEN to public papers.. means its always the last channel of rescources.. big boys already buy up during the run up from 0.03 to 0.10. waiting to dump to retailers..
ody2004 ( Date: 15-Jul-2021 08:41) Posted:
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Actually i think its the opposite.
Recently followed his Tuan Sing story.
Well written with good supporting points.
The stock is up and supported well.
Market needs time to digest.
Kim Heng is positioned well for a good recovery.
I see only upside from here.
Jump in now.
Recently followed his Tuan Sing story.
Well written with good supporting points.
The stock is up and supported well.
Market needs time to digest.
Kim Heng is positioned well for a good recovery.
I see only upside from here.
Jump in now.
nott1965 ( Date: 15-Jul-2021 09:11) Posted:
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cheong !!!
ody2004 ( Date: 15-Jul-2021 08:41) Posted:
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SINGAPORE - The Kelly Clarkson song that goes " What doesn' t kill you makes you stronger" may be an apt anthem for energy veteran Thomas Tan Keng Siong and his offshore and marine services company Kim Heng.
Soon after listing in January 2014, Kim Heng went through a once-in-a-generation slump in the global oil and gas industry which brought offshore energy exploration to halt.
The resulting oversupply in rigs continues to plague the industry, leaving even giants like Sembcorp Marine and Keppel O& M reeling.
While global oil majors had the financial heft to stay afloat, smaller players took a direct hit. Singapore companies like Ezion, Ezra, Swiber, Swissco Holdings and Falcon found themselves sinking under the weight of debt and cancelled contracts.
But having experienced several crises in the 1970s and 1980s, Mr Tan, Kim Heng' s executive chairman, knew what was coming.
" Soon after we listed, I noticed something was not right," he said. " Capex (capital expenditure) by the big boys was falling off, with some moving to shale gas. I remember being at an industry conference that year and warning that a recession was coming. I was almost booed offstage."
Then the slump hit in mid-2014.
But having not spent any of the $45 million raised in its initial public offering (IPO), Kim Heng (renamed from Kim Heng Offshore & Marine in May) was ready.
" Soon after our IPO, banks approached us to leverage up and expand our business," said Mr Tan, 64. " However, we decided to sit tight on our cash."
The decision proved prescient.
" I have been in this industry for well over 40 years and seen many cycles of feast and famine."
" Normally, some three years into a crisis, distressed assets will hit the market. I waited. We had a positional advantage."
Cashed up and ready, between 2017 and last year Kim Heng picked up fleets of offshore heavy lifting cranes, anchor handling tug supply vessels, offshore support vessels and other assets at a fraction of their market value.
In 2017, it scooped up three anchor handling tug supply vessels, each valued at $33 million, from troubled Swiber for just US$3.2 million. Between 2018 and last year, it picked up about half a dozen more as well as offshore support vessels from other companies like Swissco, Posh Terasea and Pacific Richfield at about 10 per cent of their previous market prices.
But Kim Heng was not spared.
Its revenue sank from $78 million in 2014 to $38 million by end-2018. During the period, net profit of $5.6 million in 2014 plunged into a loss of $13.5 million.
The company posted a loss of just over $5 million on a topline of $37.6 million for the year ended December 2020.
But a turnaround is evident, judging by its EBITDA (earnings before interest, taxes, depreciation and amortisation), which started turning positive to the tune of $7.4 million in 2019, but slid to $2.8 million last year as the pandemic delayed projects. It was sitting on assets of around $122 million against liabilities of $63 million, and cash of $5 million at the end of last year.
Debt-to-equity ratio was 0.75, while net asset value per share was 8.39 cents.
The company is confident that its financial metrics will improve this year.
While work in Singapore largely involves towage, rig-related and marine reclamation, much of Kim Heng' s fleet is deployed in Taiwan on offshore wind farm projects - laying cables, fabrications, installations of structures, towage and transportation.
About 31 per cent of Kim Heng' s revenue came from renewables as at the end of last year, while 30 per cent came from marine and offshore related services. Vessel charters accounted for about 30 per cent, with the rest from heavy lift cranes and equipment rentals.
Mr Tan sees renewables accounting for half of the company' s topline by next year.
The company has projects in Taiwan and Vietnam, where it has built strong relationships with global marine construction majors like Jan Denul, Dredging International, Nanoord and Deme Construction in these markets.
" These guys have the intellectual property and cash," Mr Tan said. " We are their primary subcontractors, especially in the shallow water and onshore projects."
Demand for wind energy in the Asia-Pacific is projected to grow by 24 per cent annually between 2020 and 2025. Asia-Pacific (ex-China) is expected to see about US$20 billion (S$27 billion) in capital expenditure to generate 10.2GW of wind energy by 2025.
Meanwhile, over 100 new offshore wind turbine and foundation installation maintenance vessels will be required for these projects over the next decade, according to the World Energy Report.
" Taiwan and Vietnam will account for 57 per cent of the forecast 10.2GW capacity by 2025," Mr Tan said. " If so, we are looking at 5.8GW of offshore wind capacity to be installed in these countries, where we already operate.
" This is equivalent to about US$11.6 billion worth of capex from now till 2025. Our installation, commissioning and balance-of-plant jobs make up about 31 per cent of this value chain. So we have US$3.6 billion worth of wind projects potentially within our reach."
He said Kim Heng had strategically positioned assets, resources and people.
So has the company turned the corner?
" We are definitely seeing a recovery on multiple fronts," said Mr Tan. " The (oil and gas) downturn and global transition to clean energy forced us to adapt and pivot to survive over the last three years. Our ability to advance and innovate, redefine and rebrand the business and operations to establish positional advantage in the offshore wind renewables market has enabled us to accelerate our expansion."
Barring unforeseen circumstances, he expects 2021 to be a much better year for Kim Heng than 2020.
Mr Tan' s optimism seems to be reflected in the company' s stock price, which has tripled since mid-May. But it is still significantly below its 24 cents IPO price.
Mr Tan controls 42 per cent of the company, while investor Koh Boon Hwee' s Credence Capital owns 18 per cent.
The company is restructuring into five business verticals: KH Renewables, which will focus on offshore renewable energy projects KH Construction, which will manage tug charters and turnkey reclamation, construction and cable-laying projects KH Oilfield, whose speciality will be rig refloats and traditional offshore and marine services Bridgewater Offshore, to operate its offshore support vessels and towage services and KH Shipbuilding, which includes its shipyard.
" The future looks brighter," Mr Tan said. " We are bigger, stronger and more diversified."
Indeed, what didn' t kill Kim Heng seems to have made it stronger.
Nobody believes this analyst from ST anymore. All his recommendations tanked after a few days. Bad reputation. That' s why this counter tanked also this morning
ody2004 ( Date: 15-Jul-2021 08:41) Posted:
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Featured in Straits Times wor today..
Lucky manage to covered at 117.
stanleytay ( Date: 14-Jul-2021 20:55) Posted:
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