Yesterday my bro ask me, "Sealink how?? u got average down bo?" haha, then i just realize tht i didn't put eyes on this baby long time d, now it is 0.72, lower then my entering price. Ok, lets do some home work now.
Sealink listed in the main board around July-Aug last year 2008. I a very new junior in main board. Any how i listed the Q report that i found from Bursa, i only write down those that i interested la..
Remember tht i buy Sealink (or follow Sifu buy Sealink) is because the low PE. At that time, (some where in July 09, i think), not much ONG stock that PE <10 and Sealink is one of the low PE counter. Another consideration is the limitation of my capital, others ONG is prising at RM1, bit high for me lol, so i'm not going to compare Sealink with others ONG stock now because no point to do that, Sealink also very new in the board, sure cannot 1 to 1 compare with others taiko. And now i'm holding it, then look at her performance only.
Revenue hit bottom on DEC 08, as well as share price, tht time oil price oso deep shit, then recover a bit and jump up to 53M on Mar 09 as well as June 09. I have no doubt with the revenue.
For her Profit after tax, its quite parallel with revenue performance. If compare latest profit to mar 09, revenue almost same but profit drop, this is because the selling for vessels in Mar 09 tht bring up the profit for that quarter, the performance would be the same if without the 1 shot cash in, revenue slide increased to 53M. EPS is also affected by this, so no doubt that the paper performance is not so nice for latest Q report, haha.
In terms of how the company operate in business, i rate it fare la, coz it still new and need some time to make clear the management direction. 1 point is the ROE is quite good, only the fluctuation of it is also quite high, mark for monitor!
Lets look at the simple balance sheet figure. For all quarters, current liabilities is all the time quite high, and the cash is always not enough to cover it. for a new listed company and "assume" it is growing, this is normal situation (pls correct me if i'm wrong). Well, from the current ratio, it seems to be improving but very very slow, staying at 0.6+ something now. For this section, need to monitor the up coming Q report whether the management is working on it or not. Any how, the cash on hand is improving but also quite slow. for a short sum, if the current ratio is still below 0.7, i can accept, haha
New listed company always hard to see the trend or company behavior, so since already on board and with the reasonable PE, lets give Sealink a chance, next Q maybe better and will turn out to be black horse!!.. haha
Why i doing this small data collection on Sealink now is because I'm thinking whether to average down Sealink at current price or keep the bullet for the XXXXX which is mention by SAM. This XXXXX for me is a sure win counter! I have no doubt on it. Haha, seems like i already decided.. Any how, a simple drawing on Sealink also good for me because i have not done this for it yet even i had brought it for few months d.. haha
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