******** Trading Sell: Interra Resource. ( Has broken the 0.43 immediate support and 0.415 support level)

Interra Res has broken below the 0.43 immediate support level which held for about 3 months. Even the 0.415 support in March 2013 was tested and broken down on overall weak market sentiments. Pennies still reeling from 3 designated counters by SGX. Next psychological support at 0.400 currently, this should hold and might see a technical rebound from this level if market strengthen. However, more downside is possible to 0.35 - 0.36 level if it breaks down and sellers take it lower further with 0.395 AND 0.39 being sold off. Lower highs formed since Jan this year from downward sloping line – a slight general 10 months descending triangle formation seen.

Buy stop at 0.43 for Short positions.

 

********** Rebounding back up after EX Bonus: Rowsley. Share price 0.39. ( Psychological 0.400 to be tested soon..... )

Rowsley has staged quite a strong rebound after it’s expected drop due to EX bonus of Warrants 2 days ago. Volume has been strong (TOP 10)  since its ex Bonus probably due to huge price discount currently compared to previous pre ex-bonus price. Likely to consolidate from 0.36 to 0.400 in the coming days before more upside. As long as 0.35 remains as a new support level, this can be poised for a potential rebound back to where it was last week. A break above 0.400 key resistance level can pave the way to 0.435 to 0.45 level before more consolidation. Note that the 200 DAY MA (Long term moving average) stands at around the 0.41 level, so if it does break above the 0.40 and 0.41 level, and pull further away, can resume its uptrend back up. Mainly a play on the Iskandar Malaysia Growth story with Peter Lim as a strong backing after this RTO.

Stop loss at 0.34

 

 

News – 27 SEPT 2013

*Rowsley: Substantial shareholder Peter Lim Eng Hock boosts stake to 49.64% from 29.9% after being allotted shares as partial consideration for the sale of Iskandar land to Rowley.
#Roswley: Peter Lim has boost his stake to 49.64% from 29.9% via Jovina, Bellton, Garville holdings. This was due to the latest allotment and issuance of 1.27b and 546.9m new ordinary shares in Rowsley to Jovina Investments and Bellton International, respectively as partial consideration for the sale of land from Vantage Bay to Rowsley.

 

News – 26 SEPT 2013

Following the approval of the Shareholders obtained at the EGM held on 5 September 2013, the Board of Rowsley Ltd announced that the Proposed RSP (RSP ARCHITECTS PLANNERS & ENGINEERS (PTE) LTD) Acquisition and the Proposed Land (VACANT LAND LOCATED IN THE ISKANDAR DEVELOPMENT REGION, JOHOR BAHRU, MALAYSIA) Acquisition were completed. An aggregate of 875,000,000 RSP Consideration Shares at an issue price of S$0.150 per Share were issued in favour of the RSP Vendors, and an aggregate of 2,386,666,666 Land Consideration Shares at an issue price of S$0.150 per Share were issued in favour of the Land Nominees. (Closing Price: S$0.655, +1.6%)

 

 

 

 

******* Trading BUY: SeeHS. Share price 0.405 clearing fast ! Follow up from yesterday's call. ( Broke Psychological 0.400 resistance today)

Following up from BUY call made yesterday. SeeHS has indeed surged higher on the breakout of the 0.35 resistance level and neared the 0.400 yesterday. Today we have seen it just broke above the 0.400 psychological level on TOP 10 volume again on further momentum. Support would now remain at 0.400. As long as 0.400 is a support, a rise towards 0.45 and 0.50 seems likely in the near term. More of an aggressive short term play to ride any momentum on this breakout. High set in Aug 2009 was 0.49 so it may be attempting to recover back to previous high seen.

Stop loss at 0.385

 

******* Trading Buy: Oakwell. Share price 0.110. (Can it stay above 0.110 now ? if YES, Ride the momentum and uptrend )

Oakwell currently at TOP 2 volume is currently testing the 0.110 critical resistance level which it has attempted last week to cross over but failed. Can see more upside to  0.115 to 0.118 if the 0.111 and 0.112 level clears out now. Has been consolidating about a week below 0.110 already and finally some interest with volume seen today again. Consistently above the 20 DAY MA (Green line) since Aug 2013 and uptrend in the short term still intact. As long as it stays above 0.110 in the coming days more short term upside, target to 0.120 finally.

Stop loss at 0.107

 

********* Trading Buy: SeeHS. Share price 0.37. (Broke the 0.35 resistance level)

SeeHS has cleared the 0.35 resistance level on strong TOP 20 volume today. Was really fast and did not manage to catch the break out and entry from 0.355 to 0.36. Maybe good to enter again if it dips to near 0.35 new support level.. Target to 0.400 then 0.45. As long as 0.35 holds, still a short term positive and can trade the consolidation range from 0.35 to 0.38 and 0.40.

Stop loss at 0.335.

 

******** Uptrend still in Placed: China Env. Share price 0.57. ( Supported above 0.500)

Following up from BUY trading call made last Friday. China Env has broken up above the 0.55 resistance further and looks set to test the 0.600 real soon. Ultimate support at 0.500 currently so as long as this support holds, still a good counter to hold in the midterm to continue to ride the uptrend. Likely to consolidate from 0.55 to 0.58 in the next few days before more upside. Can also consider accumulating on dips as long as it is above the 0.500 critical support level. A break above 0.60 can pave the way to 0.64 and 0.65 level then 0.700. Still poised to trade higher with key support still holding. Only the downside breakdown of 0.500 will invalidate out bullish scenario.

Stop loss at 0.485

 

********* Consolidation now after huge RUN: YHM. Share price 0.061. ( Trade the range possible)

Following up from BUY trading call made last Monday on 23 September 2013. YHM has indeed staged a convincing breakout and surge much higher to a high of 0.074. Immediate support currently at 0.060 which was also the low for yesterday and would be a psychological support to stay above for more upside consolidation. Quite a huge trading range for consolidation which is pretty expected giving the huge run up seen last week. As long as 0.060 stays as new support level, still a positive counter to hold. A breakdown of 0.060 support can also lead to downside to 0.053 to 0.055. Possible to trade this range again and take profit above 0.068. A new breakout of the 0.074 resistance level which has been tested 2 times already buy failed to break above can lead to 0.080 fast.

Stop loss at 0.057 for short term trades

 

NEWS – 30 September 2013

 

******** Monitor Closely For Breakout: Nam Cheong. Share price 0.28. ( Mainly a BUY play if the breakout of 0.300 does occur , who knows when ?)

Nam Cheong has been consolidating from 0.24 to 0.300 since the start of this year on Jan 2013 which will be about 9 months already.  It has also been trading above its Channel support line (Upward sloping line) which shows that the general uptrend is still in placed so far. Note that since April 2012, it has also been consistently trading above the 200 DAY MA (Dotted blue line) which can also signal that the uptrend in the longer term is still very much intact. Critical resistance is seen crucially at 0.300 currently where there are huge Sellers stacks. After 0.300, sellers are min. It may continue to consolidate for no idea how long below the 0.300, so this is mainly a Buy on Breakout play if the 0.300 critically clears out. A break above 0.300 can result in a NEW UP PHASE again and target would be 0.34 to 0.36 in the near term. Can consider averaging up on the breakout from 0.305 to 0.31.

Stop loss at 0.28 for Long Positions on breakout.

 

 

 

UOBKH – 21 JUNE 2013

Nam Cheong (NCL SP/BUY/Target: S$0.34). Recently, Nam Cheong

announced the sale of four 3,000dwt PSVs and one 12,000bhp AHTS for

US$110m, easing concerns of a potential PSV oversupply. Following the

most recent sale, Nam Cheong's orderbook has hit an all-time high of

RM1.7b. Net orderbook stands at RM1.3b, of which about RM600m will be

recognised in 2013 and the remainder in 2014-15. Maintain BUY and

target price of S$0.34, based on 9.7x 2014F PE.

 

OCBC - 4^TH JUNE 2013

Nam Cheong: Ride the upcycle!

● Leadership transition

● Dominant in Malaysian market

● Rising OSV demand

New CEO; but expect a smooth

transition

Nam Cheong Limited recently announced that

its Executive Director, Mr. Leong Seng Keat,

has been re-designated as the CEO. Datuk

Tiong Su Kouk, who is also a controlling

shareholder with a 43% stake, will relinquish

his CEO position but he remains as the

Executive Chairman. We believe that this

leadership transition would be smooth and do

not expect any significant changes to the

group's business directions. Mr. Leong, also

the son-in-law of Datuk Tiong, joined Nam

Cheong in 2005 after 15 years in the IT

industry. With his sales and management

experience, Mr. Leong successfully marketed

the group's vessels to the international

market.

Strong market leadership

We continue to like Nam Cheong for its

market leadership in Malaysia. Having fine tuned

its outsourcing strategy over the

years, the group now dominates the OSV

market with about 70% domestic market

share. Although majority of its vessels are

built in third-party Chinese yards, the group

has supervising teams on the ground to

ensure that the vessels are of sound quality.

This outsourcing strategy allows Nam Cheong

to scale up its production capability quickly

without having to incur hefty capital

expenditures.

 

Pick-up in OSV demand expected

Petronas had pledged to spend RM300b in

capital expenditure over 2011-15, 80% more

than the previous 5-year period. We believe

this will likely result in increased investments

across the Malaysian offshore oil & gas

industry. Already, Nam Cheong is seeing a

healthy pick-up in order wins (FY11: 13

vessels; FY12: 21 vessels) and it has recently

expanded its shipbuilding programme to 28

vessels for FY14F (FY13: 19 vessels). Its

large order-book of MYR1.3b, for 26 vessels

delivered over FY13-15F, helps to mitigate its

risk by providing a base level of earnings.

Given the strong growth profile, we find

current valuation (FY13F PER of 8.6x)

attractive. We now raise our FV to S$0.35

(previously S$0.30) on a higher PER of 11x.

Maintain BUY.