COSCO Shipping International *Official* (SGX: F83)

[Jupiter2017]

http://www.businesstimes.com.sg/com...eshold-in-takeover-bid-plans-to-delist-cogent
Cosco hits 90% acquisition threshold in takeover bid, plans to delist Cogent
FRI, DEC 22, 2017 - 10:19 AM WONG KAI YI kaiyiw@sph.com.sg

CHINESE shipping company Cosco Shipping International (Singapore) has hit the 90 per cent compulsory acquisition mark for its S$1.02-a-share cash offer for Cogent Holdings.
As at 5pm on Dec 21, Cosco has received valid acceptances representing around 5.68 per cent of the total number of Cogent shares, the company said.
Cosco had previously received irrevocable undertakings by four Cogent shareholders, who collectively hold 84.33 per cent of the total number of Cogent's shares.
Since this brings Cosco's total holdings to 90.01 per cent, Cosco said that it will pursue a delisting of Cogent from the Singapore Exchange.
The four undertaking shareholders are Cogent's executive chairman Tan Yeow Khoon, his wife Ng Poh Choo, managing director Tan Yeow Lam, and executive director and chief executive Benson Tan Min Cheow, with all four agreeing to accept the offer on or before Jan 3, 2018.
Cosco's offer price represents some 3 1/2 times Cogent's net tangible asset per share of 29.8 Singapore cents as at end-June 2017.
Upon Cogent's delisting, Cosco says it intends for Cogent to continue with its existing business activities, and does not intend to introduce any major changes to Cogent's existing businesses, re-deploy any of Cogent's major fixed assets, or discontinue the employment of any Cogent employees, other than in the ordinary course of business.
The proposed deal is deemed an interested-party transaction as Cosco's controlling shareholder, China Ocean Shipping (Group) Company, is wholly owned by shipping giant China Cosco.
Cosco's financial adviser for the deal, Bank of China, will extend a S$350 million loan facility to part fund the takeover.

Price link:
http://www.shareinvestor.com/fundamental/factsheet.html?counter=F83.SI
http://www.shareinvestor.com/fundamental/factsheet.html?counter=KJ9.SI

 

[Jupiter2017]

http://www.businesstimes.com.sg/companies-markets/cosco-cash-offer-for-cogent-turns-unconditional
Cosco cash offer for Cogent turns unconditional
WED, JAN 03, 2018 - 7:59 AM TAN HWEE HWEE hweetan@sph.com.sg

THE S$1.02-a-share cash offer of Chinese shipping company Cosco Shipping International (Singapore) for Cogent Holdings has become unconditional with the offeror having received valid acceptances representing about 92.05 per cent of the total number of shares.
As at 5pm on Jan 2, 2018, Cosco has received valid acceptances representing 92.05 per cent of the total number of Cogent shares, Bank of China announced on behalf of Cosco after Tuesday's trading hours.
With the offer turned unconditional, Cosco will exercise its compulsory acquisition right and proceed to delist Cogent Holdings from the Singapore Exchange.
The offer will close on Jan 19 at 5.30pm.
Cosco had previously received irrevocable undertakings by four Cogent shareholders who collectively hold 84.33 per cent of the total number of Cogent shares.
The four undertaking shareholders are Cogent's executive chairman Tan Yeow Khoon, his wife Ng Poh Choo, managing director Tan Yeow Lam, and executive director and chief executive Benson Tan Min Cheow, with all four agreeing to accept the offer on or before Jan 3, 2018.
Cosco's offer price represents some 3-1/2 times Cogent's net tangible asset per share of 29.8 Singapore cents as at end-June 2017.
Upon Cogent's delisting, Cosco says it intends for Cogent to continue with its existing business activities, and does not intend to introduce any major changes to Cogent's existing businesses, re-deploy any of Cogent's major fixed assets, or discontinue the employment of any Cogent employees, other than in the ordinary course of business.
The proposed deal is deemed an interested-party transaction as Cosco's controlling shareholder, China Ocean Shipping (Group) Company, is wholly owned by shipping giant China Cosco.
Cosco's financial adviser for the deal, Bank of China, will extend a S$350 million loan facility to part fund the takeover.

 

[guards80]

COSCO SHP SG: General Announcement :: CLOSE OF OFFER, FINAL LEVEL OF ACCEPTANCES AND COMPULSORY ACQUISITION
19 Jan 2018 19:34

http://repository.shareinvestor.com/rpt_view.pl/id/719417.1/type/sgxnet/original_filename/1

 

[guards80]

COSCO SHP SG: General Announcement :: CLOSE OF OFFER, FINAL LEVEL OF ACCEPTANCES AND COMPULSORY ACQUISITION
19 Jan 2018 19:34

http://repository.shareinvestor.com/rpt_view.pl/id/719417.1/type/sgxnet/original_filename/1

monday is flying

 

[edwinttt1978]

monday is flying

Suddenly, so many exciting stocks flying at the same time.

 

[ccostagmont]

are yr that same person from sharejnction??!

Same guy la....

Sent from Xiaomi REDMI NOTE 3 using GAGT

 

[5408854088]

Cosco Shipping H1 earnings tumble 69% to S$1.4m
https://www.businesstimes.com.sg/companies-markets/cosco-shipping-h1-earnings-tumble-69-to-s14m 

 

[coolhead]

holy... now it's 0.20. i was vested at 2.71 years ago, sold at 2.53 after a few months. my virgin stock purchase.

Posted from PCWX using Redmi K20 Pro

 

[LongXia]

Cosco Shipping FY2021 earnings soar 261 per cent​

https://www.businesstimes.com.sg/companies-markets/cosco-shipping-fy2021-earnings-soar-261-per-cent

 

[fortunehunter]

Stock is not able to break thru convincingly ... yet.... because some small minded is taking advantage simply because there’s no dividends, although earnings up record 260%.... so let them go, and be patient..... once it moves into attacking mode, it takes no prisoners type.

pandemic already driving the freight rates higher, yet got this Ukraine-Russia war pushes freight charges even higher. But the funny thing is, don’t laugh, black market thinks if war ends, shipping will be one of the main beneficiaries. So got war, also good, no war also good. What are you thinking of? another side dish, is theres speculation that it may do a yzj although exactly what I don’t know because it has gone thru a restructuring already recently. One thing at a time. Enjoy the trailer first.

PDYODD

Not sure if they are doing freight from what I see their webpage they more into logistics rather than freight? Cogent logistics

 

[Shion]

DBS starts coverage of Cosco Shipping International with "hold" call, citing prospects in logistics​

https://www.theedgesingapore.com/ca...ping-international-hold-call-citing-prospects
DBS Group Research’s Paul Yong has initiated coverage on Cosco Shipping International (Singapore) with a “hold” call and 26 cents price target, with a view that the company is well-positioned to ride on Singapore’s role as a regional logistics hub and that the management is eyeing possible acquisitions to grow this business.

Cosco Shipping International (Singapore) was previously known as Cosco Corporation (Singapore). More than a decade ago, it was an investors’ favourite as it rode the shipping boom and its share price hit a peak of $7.60 in 2007 but things turned south following the Global Financial Crisis.

The company was renamed in 2017 after it divested its loss-making shipbuilding business. Following the 2018 acquisition of then SGX-listed logistics player Cogent Holdings for $490 million, Cosco Shipping International’s focus shifted to logistics, property management, and ship repair and marine engineering.

The company’s ultimate owner is Cosco Shipping Corporation, a China state-owned enterprise and one of the largest shipping groups in the world.

According to DBS analyst Yong in his April 29 note, Cosco Shipping International (Singapore) is now trading at around 0.9x its FY2022 book value, which is one standard deviation below its five-year mean, and is deemed as fairly valued given his projected FY2022 ROE of 4.1% and a peer average of 1x price to book against a corresponding average ROE of 7%.

Yong notes that the company’s revenue has been trending up from FY2018 to FY2021, led by gains in its core logistics segment and the shipping segment, although somewhat offset by lower ship repair and marine engineering and property management.

Specifically, the logistics revenue of $146 million accounted for 74% of the company’s FY2021 total of $198.5 million, which was up 7% over FY2020.

The company’s FY2021 earnings, up 261% y-o-y to $30.1 million, were boosted by a one-off gain of $16.4 million from the sale of its 60% interest in Cosco Shipping (Singapore) for US$42.4 million.

Going forward, Yong expects the earnings to normalize, with a forecast of $12.6 million and $13.2 million for FY2022 and FY2023 respectively.

According to Yong, the company is well-positioned for inorganic growth, given its cash balance of around $100 million and a net debt-to-equity ratio of 0.44x in FY2021, down from 0.5x in FY2020. He expects this ratio to further trend down to 0.37x in FY2022 and 0.31x in FY2023.

While the company has not announced any expansion plans, the management has indicated they will look for value-accretive opportunities, in line with the company’s vision of becoming the best integrated shipping and logistics service provider in South and Southeast Asia.

“Going forward, demand for warehouse space in Singapore should be robust, in line with the economic recovery in 2022 and continued expansion of the logistics sector,” says Yong.

“Cogent’s warehouses are currently operating above optimal capacity, but an upside to earnings could come from acquisitions,” he adds.

The way Yong sees it, a key asset is the Cogent 1.Logistics Hub, which integrates warehousing space with a patented rooftop container depot that can store 16,000 empty twenty-foot equivalent units.

The hub is sited close to Jurong Port and also the refinery hub Jurong Island, where the hub’s purpose-built facilities capable of storing dangerous cargo is coming in handy for chemicals storage.

“By integrating the supply chain, productivity is heightened, as the transport cycle and waiting time are shortened. This brings about time and cost savings for its customers as compared to the typical supply chain where the warehouse and container depots are at different locations,” he elaborates.

While the company’s logistics business is looking up, there are a couple of other factors at play in its other business segments.

Via Cogent, the company manages The Grandstand, a one million sq ft shopping and lifestyle centre in Bukit Timah which contributed the bulk of its property management revenue totalled $12.5 million in FY2021, or some 6% of Cosco Shipping International’s total.

“Prospects are uncertain after the final extension of the lease expires on 31 December 2023, as the company has not announced any continuity plans,” says Yong.

He also reminds investors that the company has not paid dividends since 2014 and that there’s no specific dividend policy in place. “Management shared that as they are currently evaluating strategic moves to expand the business, they are not paying out dividends to shareholders,” says Yong.

 

[LongXia]

This is just a talk song post….not attracting any person to it…..

price has been slowly creeping up since its low of 10 cent plus in October….then today suddenly shoot up 13% on very high volume……Even at this price it’s half of its nav…..
do note that for such haiseenan stocks, bm gangsters are quick to go in, and quick to go out….. so it’s a sort of watch only type of stock….. and for me to talk song……

 

[LongXia]

Since I last wrote, the stock was still up another few %, so I tried to avoid talking song on the stock, but very hard la…… esp now is up another 8.5%……. Pity those avoiding it while listening to those smart alecs talking about catching falling knives…… but what you see as catching falling knives, others see it as catching falling durians,…… both are painful, but for the latter, they believe In taking the risks, as they believe in the goodness of the durian trees, and when it’s time to open the durians, they can only feel shiokness……. The point I am trying to make is don’t just listen to the smart alec comments, dyodd and go with the flow…..esp with the bm people, they are seldom wrong… ….. meanwhile, some news related to the parents…….

COSCO signs for six tanker newbuilds https://splash247.com/cosco-signs-for-six-tanker-newbuilds/​

COSCO Shipping Energy picks methanol for six new tankers https://www.offshore-energy.biz/cosco-shipping-energy-picks-methanol-for-six-new-tankers/​

 

[rider83]

Since I last wrote, the stock was still up another few %, so I tried to avoid talking song on the stock, but very hard la…… esp now is up another 8.5%……. Pity those avoiding it while listening to those smart alecs talking about catching falling knives…… but what you see as catching falling knives, others see it as catching falling durians,…… both are painful, but for the latter, they believe In taking the risks, as they believe in the goodness of the durian trees, and when it’s time to open the durians, they can only feel shiokness……. The point I am trying to make is don’t just listen to the smart alec comments, dyodd and go with the flow…..esp with the bm people, they are seldom wrong… ….. meanwhile, some news related to the parents…….

What is a good price to start selling this share?

 

[LongXia]

This is just a talk song post….not attracting any person to it…..

price has been slowly creeping up since its low of 10 cent plus in October….then today suddenly shoot up 13% on very high volume……Even at this price it’s half of its nav…..
do note that for such haiseenan stocks, bm gangsters are quick to go in, and quick to go out….. so it’s a sort of watch only type of stock….. and for me to talk song……

As I already said….. …

Anyway, as in any stock or trade, if u move in, and make money, it’s yr own decision, and only yours alone, how much profits you want to take…… for some, kofee money will do, for some must be at least 20%, for some others it’s no 50% no sell….so, to each his own……but as always, if you follow the black market, as I always warned, the bm gangsters never say why when they buy, never tell when they they sell……. And because they are the first to know, they are the first to move….. so u hv to dyodd…….. meanwhile, some recent negative news relating to the parents - in case you wondering why…… but as far as I know, it’s ain’t over yet, till the fat gangster sings, because these may be related, they are indirect in a way… and as I said , what you see as falling knives, some see as falling durians…. most importantly is what the black market sees….

Cosco Shipping Holdings Shares Drop After Weak Estimate https://www.marketwatch.com/story/cosco-shipping-holdings-shares-drop-after-weak-estimate-5742bd8d​

China’s COSCO to become latest to avoid Israeli ports amid Houthi attacks https://www.ship-technology.com/news/cosco-latest-to-avoid-israeli-ports/?cf-view​

Two crew killed in engine room blaze as Cosco box ship bunkers at Houston https://theloadstar.com/two-crew-killed-in-engine-room-blaze-as-cosco-box-ship-bunkers-at-houston/​

As warships move into the Red Sea, carriers delay or re-route 100+ box ships https://theloadstar.com/as-warships-move-into-the-red-sea-100-box-ships-are-delayed-or-re-routed/​

Chinese shipping giant Cosco latest carrier to dodge Red Sea. Significant move would pile pressure on other lines https://www.tradewindsnews.com/cont...o-latest-carrier-to-dodge-red-sea/2-1-1580109​

 

[Shion]

Cosco Shipping expects $1.9 mil earnings for FY2023 in profit guidance​

https://www.theedgesingapore.com/ca...xpects-19-mil-earnings-fy2023-profit-guidance

The board of Cosco Shipping International (Singapore) has announced that it expects to report earnings of approximately $1.9 million for the FY2023 ended Dec 31, 2023, compared to the net loss of $88.86 million recorded for FY2022.

The earnings reversal is primarily due to the company recognising a non-cash goodwill impairment of $99 million that arose from its acquisition of Cogent Holdings in 2018, which affected FY2022 financial results.

While there was no such impairment of goodwill in FY2023, the company notes that its net profit had still been negatively affected by the non-renewal of sub-leases due to the expiry of its lease of The Grandstand, higher financing costs and lower contribution from associated companies.

Cosco Shipping plans to announce its full financial results for FY2023 no later than Feb 29.

Shares in Cosco Shipping closed 0.4 cents higher or 2.82% up at 14.6 cents on Feb 16.