Corporate News
Posted On Monday, January 28, 2008 at at 9:24 AM by Finance AnalysisChina Oilfield Technology
We visited China Oilfield Technology (COT) recently to have a look at its operations. Crude oil prices have receded, but are at prices where enhanced oil recovery (EOR) techniques remain feasible. Specifically, EOR will have a starring role as the Chinese economy struggles for energy independence and addresses the mismatch between strong demand and peaking domestic supply. As a proven and major EOR player in a key domestic oil region, the potential for COT's business remains intact.
Current Price: S$0.49
Fair Value: S$1.01
M1 posts 4.8% fall in Q4 net profit to $37.9m. MOBILEONE yesterday reported a 4.8 per cent fall in net profit to $37.9 million for the fourth quarter of 2007 as it spent more on keeping its customers and on higher staff costs. The smallest of three telcos here said that full 2007 net profit was up 4.4 per cent to $171.8 million. The fourth-quarter net profit missed the $41.3 million median estimate of six analysts surveyed by Bloomberg. Q4 revenues rose 2.9 per cent to $206.9 million. M1 announced a final dividend of 8.3 cents, bringing the total payout (including a capital distribution) to 15.4 cents for the year, representing an 8 per cent yield based on the $1.92 closing price yesterday. Chief executive Neil Montefiore said that it had been a tough quarter, and 2008 would be even more challenging. Although its customer base rose 14.8 per cent to 1.54 million, market share fell to 27.4 per cent at the end of November from 28.3 per cent in August and 28.5 per cent in November 2006.
Current Price:S$1.92
Fair Value: S$2.33
