CHoffshore - great results with 4 SGD cts per share dividend

Don't know what tmr might bring. Dow didn't close too bad last Fri (-30 plus) because FED injected a fresh round of funds into the market to raise liquidity to prevent the collapse of the financial system. Hard to say how others might interpret this. It can either be viewed that the system is serious enough to warrant enough central banks globally to 'rescue' the system and thus it's bearish; or it's a temporary measure to halt panic investors from selling cheaply, thus it's bearish (at least for short term).

Not point theorizing, haha :P Tomorrow comes soon.

I saw CHoffshore results, it's really fantastic! Revenue was up 29.3%, total profit after tax increased 210.2% with strong core business earnings (52.8% of total profit) and from their continued disposal of their older vessels which had been fully capitalised (47.2% of total profit). They still have a couple more vessels to dispose of and this would add a huge chunk to their profits over the next few years (i blogged much earlier about this when i sold off CHoffshore in july).

They are proposing to give a special one-off divided of 3.5 SGD cts per share plus interim dividends of 0.5 SGD cts per share, totaling 4 SGD cts per share. This means $40 per lot. The price now is at ema 50 days support at 0.800, with next support at 0.735. Quite a good bargain if tmr there's another selloff :P Might not be able to get at this price though, knowing that they pay such a good dividend, hmm...

Next week should be another volatile week for dow. Quite a number of funds are reporting their reports for this quarter. Supposed to be bad (for those with subprime exposure) so will trigger more sell off and more of them will get liquidated until it goes bust. Excellent time to buy or last chance to sell? Haha :P

Have a great week ahead!