Posted by rikki > 2014-02-10 16:34 | Report Abuse

Wow....not good.....step ladder downwards.....luckily no volume!!!

Posted by CityTrader > 2014-02-10 16:38 | Report Abuse

No worries, need time to digest n rest. Focus other ctr first.

Posted by skyhawk > 2014-02-10 16:44 | Report Abuse

Can takes some profits now n buy back later(pullback to 0.63/0.54))
Hv cleared all...now waiting at the sideline...before moving in again....

Posted by CityTrader > 2014-02-10 16:47 | Report Abuse

Bro, the w3 has not ended yet. My final upleg is 0.86 or 0.94 that i m not quite sure. Hope im right but trade at own risk. Cheers.

Posted by skyhawk > 2014-02-10 16:52 | Report Abuse

Bro CT....it is now in W2...abc formation....

Posted by psd57 > 2014-02-10 16:54 | Report Abuse

skyhawk: what u meant by abc formation

Posted by CityTrader > 2014-02-10 16:55 | Report Abuse

Hehe!

Posted by skyhawk > 2014-02-10 16:58 | Report Abuse

psd57....to understand better (in same wavelength with me n CT).Do study the 5 waves principle....hehehe..
: ): )

Posted by lee9fold > 2014-02-10 18:04 | Report Abuse

i doubt it will drop so fierce to 0.63?

Posted by skyhawk > 2014-02-10 18:14 | Report Abuse

Shares dont go up in a stright line....profit takings will set in after a bullish move.I m watching at these levels.My2c.

Posted by CityTrader > 2014-02-10 18:15 | Report Abuse

Let us witness the price action since there re 2 different TA analysis.. There is no right or wrong & we may overlook something here or there. Let us treat it as case study then improve for future trading ... Cheers & Happy Trading !!!

Posted by skyhawk > 2014-02-10 18:21 | Report Abuse

:) :D.....Cheers!!!

Posted by lee9fold > 2014-02-10 19:05 | Report Abuse

bro skyhawk...i understand...but if reli reduce to 0.63 reli fierce drop...i believe good fundamental counter wont drop so fierce...i might be wrong haha

Posted by skyhawk > 2014-02-10 19:16 | Report Abuse

Bro lee.....is just my own calculation.I might be wrong.will let Mr Market tell me what to do next...loh. :D :D

Posted by lee9fold > 2014-02-10 19:20 | Report Abuse

yea...thx for u and ct precious ta info...i will monitor the price movement as well ;)

Posted by Joel > 2014-02-10 22:25 | Report Abuse

I think will hit to rm0.785 by tomorrow.

Posted by Joel > 2014-02-10 22:35 | Report Abuse

SILKHLD :

5th largest OSV operator in Malaysia

Jasa Merin (Malaysia) S/B (JM), which commenced operations in 1982, is an offshore support vessel (OSV) owner and operator, providing services to oil majors operating in Malaysian

waters. It has over 30 years of experience with an excellent track record and is recognised by the oil majors. JM is 70% owned by AQL Aman S/B, a 100%-subsidiary of SILK Holdings,

with the remaining 30% owned by State-owned Terengganu Incorporated S/B (TIA).

Posted by Joel > 2014-02-10 22:35 | Report Abuse

2. Vessels are Malaysia-built and flagged

JM presently owns and operates 17 units of OSVs (after disposing two olders units and added on one new unit in FY7/14-YTD, vs 18 units at end-FY7/13) comprising 15 anchor-handling tug

and supply vessels (AHTS) and 2 straight supply vessels (SSVs). All its fleet are locally built with Muhibbah Engineering as its preferred vessel builder. All of its OSVs are Malaysia-flagged

and are relatively young, averaging 4 years in age.

Posted by Joel > 2014-02-10 22:36 | Report Abuse

3. Fully employed, moving into deepwater

Currently, all JM’s OSVs are on long term charters. In FY13, JM secured 7 new contracts and extended 2 earlier charters. In terms of fleet expansion, JM has been consistently growing its

fleet size during the down-cycle (2008-11) and despite that, it has been successful in securing charters for these OSVs. Based on its new building programs, 2 AHTS (JM Cemerlang, JM

Abadi) are currently under construction with deliveries by mid-2014.

Posted by Joel > 2014-02-10 22:36 | Report Abuse

4. Outlook

Prospects are bright for JM to capitalise on the wave of opportunities in the Malaysia OSV market. Higher drilling activities, increasing demand for platforms and floating solutions, rising

development for enhanced oil recovery (EOR) activities and deepwater explorations augur well for the OSV market.

Posted by Joel > 2014-02-10 22:37 | Report Abuse

5. In addition, charter rates and utilisation levels are recovering to pre-crisis levels. Contract tenures have extended, from 2-3 years to 5 years, reflecting the buoyancy in the OSV market.

Coupled with the decent financing options, newbuilding programs have kick-started after a lull over the past few years.

There is an increasing demand for higher specifications vessels (i.e. PSV, workbarge/boat, 8-12k bhp AHTS). With PETRONAS giving preference to locally owned-operated flagged

vessels and relatively younger fleet, the market is flushed with opportunities for local players like JM.

Posted by Joel > 2014-02-10 22:37 | Report Abuse

6. JM has recently completed the acquisition of the other 49% stake of four OSVs (JM Bayu, JM Sepoi, JM Samudra, JM Setia) from GMV-Jasa S/B for MYR49.5m in Dec 2013.

This means that from 2014, the entire JM fleet is 100%-owned. This would contribute positively to the group, adding ~MYR2.1m/4.2m in net profit in FY14/15 after taking into consideration

the interest (financing) costs. Notwithstanding that, the delivery of 2 new OSVs (JM Gemilang and JM Abadi) will likely be contracted out, at decent domestic market rates.

Posted by Joel > 2014-02-10 22:38 | Report Abuse

7. We expect JM to generate higher net profit of MYR30m/MYR32m in FY14/15 (FY13E: MYR26m),

driven by the added fleet and higher stakes in four OSVs. Our main assumptions are: (i) average total capacity owned to increase 6.6% YoY to 129.8k bhp in FY14 and 2.2% YoY to

132.5k bhp in FY15 and (ii) gross profit margin to remain stable at an estimated 37%.

Posted by Joel > 2014-02-10 22:40 | Report Abuse

Going forward,

with the steady traffic volume growth and next scheduled toll rate hike in 2015 to MYR1.80 (+38%) from MYR1.30, we expect Silk Highway to turn profitable in FY7/15.

Its Sukuk Mudharabah is due for a restructuring in 25 Jan 2015, and this could potentially reduce its finance cost, providing upside to earnings.

Based on our scenario analysis, a 0.5% reduction in finance cost starting Feb 2015 would increase the Silk Holdings’ FY7/15 net profit by +4.4%.

Posted by Joel > 2014-02-10 22:41 | Report Abuse

Stronger group profits ahead

We project SILK Holdings to deliver group net profits of MYR11.0m in FY7/14 (FY7/13: MYR4.4m) and MYR29.3m in FY7/15 with the growth coming from

(i) three new OSVs in FY7/14 and a full stake in four existing OSVs effective Dec 2013 which were previously 51% owned, and

(ii) continuous robust traffic growth at the KRR and a toll hike (+38% for Class 1 vehicles) due in 2015. In 1QFY7/14, SILK Holdings reported a net profit of MYR2.2m, and our forecasts assume another MYR8.8m in 2Q-4QFY7/14.

Posted by Risk Trader > 2014-02-11 00:21 | Report Abuse

Moving to new high tomorrow.....TP 0.80 cent

Posted by nazrul90 > 2014-02-11 10:35 | Report Abuse

WHY THE DROP?

Posted by Alwin Yau - Wealth Strategist > 2014-02-11 17:57 | Report Abuse

Profit taking as usual. Up and down prices so that we can make more profits in few rounds. No worry if you are long term investor. Keep this stock to see good values growth. Trust me.

Posted by peiyee > 2014-02-11 18:04 | Report Abuse

ok, i trust u. already reenter few days back.

Posted by Azli > 2014-02-11 18:52 | Report Abuse

Hope it will fly today. Today it started this morning but the wings got broken.

Posted by lee9fold > 2014-02-11 19:52 | Report Abuse

i think patience pays at the end.

Posted by Tommylim > 2014-02-11 19:57 | Report Abuse

I did ask my remisier about Silk. He said better stay sideline as it may experience strong pullback in immediate period. Hope he is wrong. Thank you

Posted by lee9fold > 2014-02-11 19:59 | Report Abuse

yr remiser got buy in previously and sold?

Posted by CityTrader > 2014-02-11 20:39 | Report Abuse

I hope im not wrong thus i insist to hold for my tp 0.86 or 0.94 end of the upleg. Trade n follow at own risk.

Posted by mikekong55 > 2014-02-11 21:02 | Report Abuse

lee9fold. every corner also see your name. you must be holding 50% of bursa counters.

Posted by lee9fold > 2014-02-11 21:10 | Report Abuse

mike...i small kaki only...unlike u big capital...haha!

Posted by Qintian > 2014-02-11 21:13 | Report Abuse

mike does it means you also holding 50% of bursa counters? haha..

Posted by Duitbesar > 2014-02-11 21:27 | Report Abuse

Gua tengok pun sudah takut woorrr. Korang tak check ke PE ratio dia. Kecut perut!! 99 times liao!! Kalau jatuh KABBBOOOMMM!! Hehehehe gua tunggu bawah buat 2nd round liao. Kikikiki

Posted by invest88 > 2014-02-11 21:52 | Report Abuse

I recommend to buy this share on october 2013 when the price is only 40 cents. Now trading at 70-75 cents. My target to unload all the Silk share once hit 80 cents. 100% profit within 4-5 months make me happy enough.

Posted by mikekong55 > 2014-02-11 21:58 | Report Abuse

qintian. just 4 only(3 bought this week) and will hold until nov.'14.

Posted by Risk Trader > 2014-02-11 23:13 | Report Abuse

Tomorrow will fly back...TP 0.80 cent

Posted by mrlim > 2014-02-12 07:34 | Report Abuse

will fly again, dont miss the boat

Posted by 4u2c > 2014-02-12 11:52 | Report Abuse

I miss the boat on this one. First time saw this share recommended. I thnk Duitbesar is right...it will ease a bit after a magnificent rally. Will buy in below 70 cts

Posted by kudakilat > 2014-02-12 12:03 | Report Abuse

Jasa Merin is good ...

Posted by 4u2c > 2014-02-12 12:42 | Report Abuse

Jasa Merin.....is this a share ? Cant find it ..

Posted by sklyte > 2014-02-12 15:39 | Report Abuse

wow, below 70cents now, if SILK sells their highway, it could raise potentially 500million cash man, that is sufficient to cover their market cap, or theyc ould just list their oil & gas segment

Posted by Joel > 2014-02-12 16:34 | Report Abuse

It up now.

Posted by Joel > 2014-02-12 16:35 | Report Abuse

Maybank TP is very sharp!!
See what Maybank gave TP to Barakah, then u know.

Posted by Joel > 2014-02-12 16:36 | Report Abuse

Maybank TP to Silkhld RM0.80 above.
Best buy at RM0.710 something.

Posted by Azli > 2014-02-12 21:03 | Report Abuse

Tmrw will fly... See the pattern..