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Good entries, ASA and Keith. I do not think that it’s possible to get such low entry again near term; especially at the back of positive prospects from its order book :)
Takes time if you will, c30. A flawless execution of its order book means higher profitability and it will eventually move towards its fair valuation. My personal opinion is that it is worth more that your expectation :) Could be wrong, hope it helps.
a new addition to it's order books :) most important of all - a recognition of Waseong's expertise in pipe coatings which is crucial for the topside modules; upstream, mid and downstream too. Congratulations to all long term shareholders!
step by step, slowly but surely. the addition is a boost to it's order books and market price will reflect it accordingly; to price it in if you will :)
I wished too, Iverson Chow. With funds/institution buying, it could be tough to go way lower. Takes a lot of time and big market panic to offset the earnings visibility for Waseong that goes all the way 2024. Manage your positions well and it takes time to complete the 3.5 bil book order on hands :)
indeed, Nick. Manage your positions well and it will be interesting to follow it's development. The book order is the highest for the last 10 years and a recognition of its competency in pipe coatings; comparable to Shawcor :)
chow, i have no intention to fifo. I bought it because of its massive order book. Given the increasing capex of global big oil company, i strongly believe waseong as a global leading player in pipe coating will secure more orders this year.
exactly, admiral adama and Iverson. definitely not a wise decision to FIFO at the moment when its being mispriced by the market. A top ranked company in global pipe coatings with the likes of Shawcor and 3M; earnings visibility until 2024.
banker inside? sounds like an opportunity for learning, Nick. It will be interesting to see how will the short term banker play against long term funds/institutions inside waseong :)
Congrats to all long term shareholders :) Beginning to price in the recovery from the disruptions due to the pandemic. Still a long way to price in the book orders on hands :) There will be a mixture of both negative and positive external headwinds with regards to the industry and oil price in coming months. It is negligible to Waseong so long that it does not disrupt its ability to deliver the jobs on hands; revenue recognition if you will. Just my opinions, could be wrong. Hope it helps.
Continue to look forward to its recovery while external headwinds from the industry remained choppy but negligible to Waseong so long it does not hinder its ability from a revenue recognition perspective.
Takes time, Nick. The choppy external headwinds will continue to dominate the market actions for some time. The good news - IBs are providing more coverage and information for Waseong now; they probably have positions in Waseong too:) Manage it well as we are talking about earnings visibility all the way until 2024. Just my opinions, could be wrong.
not losses, Admiral Adama. it's 60M provisions as stated in page1 right below administrative and general expenses. It's something like standby funds for unexpected usage/expenses. I believed the accounting rule allows for reversal too :)
Congrats to all long term shareholders. External headwinds for the industry showing positive signs from choppy to neutral/trending to positive :) Should be better as we move towards second half of the year.
Nick, remember to manage the risk well as its a long ride :) I have just rebalanced some of my positions as it has went up by 30%. Thanks to the participation from funds/institutions :) Continue to ride along.