STI was down 2% (73 points), closing at 3599 with a volume of 2.3 billion.
A few surprise - Swiber top gainer is this lousy market, rising up 0.320 to close at 3.660. Interesting, no news or anything too. Maybe it's the good results to come. I think they're reporting in 1 or 2 weeks time, can't remember.
Market is just bad lah. STI broke support, possibly next support near 3570. Judging from Dow, isn't going to get let off on Monday too.
A few news to share:
1. CSC had excellent results to show. Net profit was up 292%. A happier thing for me to see is that their gross profit margin increased from 15.4% to 21.6%, which shows they are doing something right to handle complicated projects. This is impt because with the same contract but higher margins, they can earn more.
Somemore got dividend one, to use up their S44A tax credit. They are going to give a special cash dividend of net 0.231 cents per share. Not much, but still not bad lah. Haha, less than 1 tick difference, so shouldn't expect the price to fall after XD.
Didn't waste my capital on this stock :)
2. GK Goh revealed ok results. Revenue was down 17%. Not surprising, cos the last quarter had such a bull run. Profit down by 79% due to the inclusion of a negative goodwill sum of $22.3 million arising from the acquisition of Eastern and oriental Berhad. Excluding this one off item, net profit rose 121%. NAV stands at $1.2475 (increased somewhat), which means that GK Goh is undervalued based on NAV.
Still holding :)
All the 'agri' stocks still rising like mad, paying no heed to the general market conditions. Dow now down by 1%, -134 points.
My portfolio now stands at $4.77 k, after a good showing by Swiber.
Friday, November 09, 2007
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