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Old 17-08-2015, 09:47 AM   #181
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ST Engineering Struggling to find growth Event  STE reported 2Q15 net profit of S$125m (-6% vs 2Q14), in-line with ours but missing consensus’ over-bullish forecasts.  Uninspiring results over the last few quarters alludes to the structural headwinds that beleaguer STE’s various segments; despite recent earnings cuts, we think the street is still too bullish on growth forecasts for the next 2 years. Our estimates remain 7-12% lower for 2016/17.  STE is down 10% since mid-May. We see our investment thesis of weakness across all 4 segments playing out (as noted in our initiation Not so defensive anymore), especially the structural decline in its core MRO business. Impact Results’ highlights:  Aerospace struggles to grow: Headwinds in the business are coming to bear as the segment recorded a YoY sales decline of 4% to S$515m, while net profit declined by 6% to S$125m.  Electronics growth slows: Electronics recorded a decent top line growth of 9% YoY, but a decline of higher-margin satellite communications equipment work saw profits growing at a mere 2% to S$57m.  Marine segment top line suffers: Revenue for segment came in lower than expected, falling 27% YoY to S$254m while profits improved on product mix for the quarter.  Land systems a neutral: Land system sales were slightly higher than expected (+8% YoY to S$317m), but impairment charges weighed on profits. Land continues to be the smallest segment by revenue and profit contribution.  Interim dividend increased: Interim dividend has been increased YoY to S$0.05 from S$0.03. Our full year dividend forecast is S$0.15. Looking forward:  Headwinds continue: We continue to see structural headwinds in the Aerospace MRO business, growth slowing in Electronics and a muted environment for both land and marine. Earnings and target price revision  No change. Price catalyst  12-month price target: S$2.70 based on a DCF methodology.  Catalyst: Earnings miss Action and recommendation  Consensus gradually cutting estimates, more to go: STE has been a defensive stock in the past, thus making it difficult for consensus to accept the new reality. Now with declining profits, downgrades are coming through. Even now, at 19x 2016E P/E with flat earnings growth for the next 3 years, we find valuations still too expensive and expect the de-rating to continue.
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Old 17-08-2015, 09:49 AM   #182
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the financial reports very long leh.

can simplify to one or two lines

ST Eng Continues to be on downtrend; highs getting lower and lower.
level 3.14 has been tested twice. next support 2.60
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Old 17-08-2015, 04:52 PM   #183
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Doomed stock is doomed
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Old 17-08-2015, 05:04 PM   #184
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Doomed stock is doomed
Company or stock ?
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Old 17-08-2015, 08:45 PM   #185
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STI mostly falling.
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Old 18-08-2015, 10:35 PM   #186
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I need some advice, i'm just a very very small buyer of this stock because i accumulate through OCBC BCIP, i bought 500+ units with 3.3k but now it has drop to around 2.7k. Do you guys recommend me to hold or just sell to stop lost because from the comments i read, it seems very hard for it to climb back? Thanks!
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Old 18-08-2015, 10:47 PM   #187
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I need some advice, i'm just a very very small buyer of this stock because i accumulate through OCBC BCIP, i bought 500+ units with 3.3k but now it has drop to around 2.7k. Do you guys recommend me to hold or just sell to stop lost because from the comments i read, it seems very hard for it to climb back? Thanks!
The people who advise you now would be made to look like an idiot if they recommend
cut loss, and it rise back
hold, and it falls
buy as per normal, and it falls.

The sensible thing to do is to ask yourself a few questions.
Why did you buy this instead of STI ETF?
Did the reasons changed?
What's the long term outlook?
etc...

This is likely your first time experiencing a correction/sell off, you can learn from it. The damage is not big and it shouldn't be.
Either set a cut loss and follow it through or be firm and confidence in your research and analysis.

It's always a personal thing to buy/sell. Everyone here has their own reasons.
Don't panic, stay calm. When you look back in 5-10 years, this is but part of the journey to get to where you want to be.

As far as I'm concern, my holdings in this counter is small and since I already cut by half, I can afford to wait it out even if it goes to 20cent, I will just use the other half to buy back then.
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Old 19-08-2015, 06:18 PM   #188
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Huge drop after XD on this counter
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Old 19-08-2015, 06:21 PM   #189
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Scooped some at 3.00 today.
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Old 20-08-2015, 01:13 AM   #190
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The people who advise you now would be made to look like an idiot if they recommend
cut loss, and it rise back
hold, and it falls
buy as per normal, and it falls.

The sensible thing to do is to ask yourself a few questions.
Why did you buy this instead of STI ETF?
Did the reasons changed?
What's the long term outlook?
etc...

This is likely your first time experiencing a correction/sell off, you can learn from it. The damage is not big and it shouldn't be.
Either set a cut loss and follow it through or be firm and confidence in your research and analysis.

It's always a personal thing to buy/sell. Everyone here has their own reasons.
Don't panic, stay calm. When you look back in 5-10 years, this is but part of the journey to get to where you want to be.

As far as I'm concern, my holdings in this counter is small and since I already cut by half, I can afford to wait it out even if it goes to 20cent, I will just use the other half to buy back then.
I think you just made him shitted in this pants with this
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Old 23-08-2015, 11:37 AM   #191
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$3 gone....

my prophecy has come true!
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Old 23-08-2015, 11:38 AM   #192
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$3 gone....

my prophecy has come true!

You like prophet....

What will STI end at tmr? About 2850??
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Old 23-08-2015, 01:06 PM   #193
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$3 gone....

my prophecy has come true!
you short ?
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Old 23-08-2015, 01:34 PM   #194
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why the great prophet did not predict that the silverlake held in his scb dropped 40%? ($1 to 60 cents)

why is he gloating that others are holding onto ste that have dropped 15% (3.40 to 2.9x)
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Old 23-08-2015, 01:36 PM   #195
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why the great prophet did not predict that the silverlake held in his scb dropped 40%? ($1 to 60 cents)

why is he gloating that others are holding onto ste that have dropped 15% (3.40 to 2.9x)
SLA has much higher potential to gain back what it has lost.

ST Eng? Nope.
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