Vard Holdings Ltd- Another Titanic in the making?

[Keverus]

DBS Vickers: SELL, TP 49 cents
RHB: SELL, TP 47 cents
CIMB: SELL, TP 40 cents
Maybank Kim Eng: SELL, TP 40 cents

 

[Bombermankid]

Still remember people saying Vard was cool because it owned one of the vessels used for the search for the missing MH370.

 

[Keverus]

Still remember people saying Vard was cool because it owned one of the vessels used for the search for the missing MH370.

Vard seems ready to head down to 40 cents again?

any thoughts on this counter? huge losses, current industry conditions bad...

 

[winorlose]

already titantic so long ago then u realised? which o&g stock not titanic yet?

pac radiance, posh, ezion, ezra, sci, scm all titanic far far from their highs.. dont start captain obvious threads leh..

Basically these vessels owners all need to take alot of debt to buy vessels. Much of their NAV is made up of vessels and little cash. When crisis, these heavy assets owners who have high debt will titanic first. Either they loan from bank..if bank don't want to tar their depreciating assets then they go for rights or placement.

 

[sanzhu]

Gulp canbye

 

[MikeDirnt78]

Still remember people saying Vard was cool because it owned one of the vessels used for the search for the missing MH370.

that means those people are just amateur investors. i already label vard as a rubbish counter way before the mh370 incident.

 

[Keverus]

already titantic so long ago then u realised? which o&g stock not titanic yet?

pac radiance, posh, ezion, ezra, sci, scm all titanic far far from their highs.. dont start captain obvious threads leh..

Basically these vessels owners all need to take alot of debt to buy vessels. Much of their NAV is made up of vessels and little cash. When crisis, these heavy assets owners who have high debt will titanic first. Either they loan from bank..if bank don't want to tar their depreciating assets then they go for rights or placement.

vard crashed to 40 cents few mths back, recovered. now looks like crashing again.

 

[Keverus]

already titantic so long ago then u realised? which o&g stock not titanic yet?

pac radiance, posh, ezion, ezra, sci, scm all titanic far far from their highs.. dont start captain obvious threads leh..

Basically these vessels owners all need to take alot of debt to buy vessels. Much of their NAV is made up of vessels and little cash. When crisis, these heavy assets owners who have high debt will titanic first. Either they loan from bank..if bank don't want to tar their depreciating assets then they go for rights or placement.

bro, u still holding ur Chip eng seng?

 

[Shion]

Vard’s 2Q earnings tumble 59% to $9.8 mil as O&G sector stays bleak

http://www.theedgemarkets.com/sg/article/vard’s-2q-earnings-tumble-59-98-mil-og-sector-stays-bleak

SINGAPORE (July 22): Vard Holdings, the shipbuilder of offshore specialised vessels, posted a 58.6% fall in earnings to NOK 58 million ($9.8 million) for the 2Q15 ended June compared to a year ago.

This translates into earnings per share of 0.85 cents for 2Q15.

For 1H15 ended June, Vard sank into losses of NOK 277 million from profits of NOK 190 million in the same period a year ago (1H14).

Vard says it faced a slowdown in activity at some yards in 1H15 as the overall weakness in the oil and gas sector began to impact operations.

“Order book development remained muted, with one new vessel order secured by the group during the quarter. New order intake, including variation orders and repair and conversion work, amounted to NOK 956 million,” says Vard in a filing.

In 2Q15, Vard posted a revenue of NOK 2.49 billion, representing a 15.3% decline from 2Q14, whereas 1H15 revenues came in at NOK 5.55 billion, in line with 1H14.

At the end of 2Q, order book value stood at NOK 13.92 billion, representing a 35.6% decrease from the same period in the preceding year (2Q14). This corresponds to an order book of 29 vessels.

Vard closed 0.5 cent lower at 48.5 cents on Tuesday.

 

[Keverus]

thank you Vard holdings.

 

[Keverus]

will go to 40 cents ma!?!

 

[Keverus]

already titantic so long ago then u realised? which o&g stock not titanic yet?

pac radiance, posh, ezion, ezra, sci, scm all titanic far far from their highs.. dont start captain obvious threads leh..

Basically these vessels owners all need to take alot of debt to buy vessels. Much of their NAV is made up of vessels and little cash. When crisis, these heavy assets owners who have high debt will titanic first. Either they loan from bank..if bank don't want to tar their depreciating assets then they go for rights or placement.

dont see it as a captain obvious thread, see it as a re-visit to the stock. anyway, if u had been alerted and shorted the stock again as I did, congrats.

now the question, will Vard continue to tank to 40 cents? anyone wanna weigh in?

 

[Keverus]

42 cents...

will hit 40 cents?

 

[Keverus]

 

[Keverus]

this week dip below 40?!!

 

[Keverus]

anhymore downside?!!

 

[MikeDirnt78]

this is another stock in my red flags list since it was $1+.

 

[Keverus]

Mike, do you think more downside?

35 centS?

 

[winorlose]

king of shorts sia u

if u short all the O&G stocks.. now millionaire liao

 

[MikeDirnt78]

Mike, do you think more downside?

35 centS?

Disclaimer: i dont do short term trading, shorting or technical analysis.

let me just give my personal view. last support of 39 cents of 19 mar had been breached. so thats negative. i believe more down side in the short term considering its plunging earning results and lower oil price.

this is a stock definitely to avoid for mid to long term holdings. a quick look at its latest trailing PE stands at 60x?!