Anyone holding this counter? Yesterday suddenly moved to 61.5 cents with a volume of more than 2 million shares. This morning not much show, wonder why is that so?
SWN, I too am amazed at the vol and run-up yesterday. Today, my jaw dropped too. Suddenly, so little trading and the price fell back. Hahahaha... someone's playing a fool with this stock.
I still like the stock for FA reasons. I remember an article on the background and and potential for takeover >> [url=http://www.nextinsight.net
/story-archive-mainmenu-60/916-2012/4823-qjaya-has-much-stronger-balance-sheet-today-so-pay-up-ihc]"JAYA has much stronger balance sheet today, so pay up, IHC'[/url]
Yes, Jaya FA is good but most investors do not notice it. The current major shareholders (in the form of a syndicate) took over the company at 48 cents and I think they are unlikely to sell unless any potential buyer can offer 70 cents or more. If that happens, that will be great!
A couple of things worth highlighting in this good snippet from Dow Jones. In particular, investors are going to benefit from Jaya's refinancing. It's not a question of if it will refinance but when. Given the clear benefits, the 'when' is likely to be ' soon".
STOCK CALL: Jaya's (J10.SG) wide-ranging agreement with Dutch shipbuilder IHC Merwede offers strategic clarity and allows it to scale the technology curve, CIMB says.
It expects Jaya's stock could rerate on steady chartering contributions, new shipbuilding orders from the collaboration and refinancing for its schemes of arrangement. It adds, Jaya has been eyeing resuming dividend payments, noting its historical dividend payout of 60%-70%; "the group has built up a strong cash position of US$201 million. We see refinancing as a significant catalyst." Jaya's turnaround story is different as its operations were always sound and it has a clear roadmap and performance indicators, it says. It believes downside is limited; "investors are able to ride on the coat-tails of smart money as the financial investors push through their initiatives."
Jaya's valuation at 0.7X P/B suggests it may be misunderstood, CIMB says. While comparable with Singapore-listed Batam shipbuilding peers, Singapore-listed vessel-owners generally trade nearer book values, it says, adding Jaya's focus shift to chartering indicates it should align more toward vessel-owners. CIMB doesn't rate Jaya. The stock is +1.9% at S$0.54 in high volume. (leslie.shaffer@dowjones.com)
Jaya is controlled by private equity investors, so you can expect them to organise & drive the business in a certain way. Interesting . Perhaps 70 cents shouldn't be too difficult a target
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