Asia Dekor ($0.160, 15 Dec 2006)

Asia Dekor ($0.160, 15 Dec 2006):

Breaking up from a symmetrical triangle? Possible near-term targets 0.18, 0.22.


Asia Dekor ($0.140, 17 Nov 2006):

AD has been range bounding for quite some time, but on 02 Nov, it suddenly shot up to $0.16 with 19m shares traded. The increased volume since then may suggest that there is renewed interest in AD:



Some trading ideas:

1. Undervalued Stock

• Closing price as at 14/11/2006 = S$0.14
• PER = 6.5 (Based on 1H-FY2007 EPS of RMB0.0534 (S$0.0107))
• Price/NAV per share = 0.8 (Based on NAV as at 30/9/2006 of RMB 0.8741 (S$0.175))
• Dividend yield = 3.14% (Based on the interim dividend of RMB0.011)

2. Strong & Positive Cashflow

• Major capital projects were completed over the past 2 years.
• EBITDA for 1H-FY2007 = RMB83.6 million

3. Proven Profit Track Record

• Strong revenue growth in 1H-FY2007
• Profit after tax stood at RMB47.3 million for 1H-FY2007


4. Strong Product Brand

• Power Dekor brand ranks 130th among China’s top 500 most valuable brands in 2006
• Power Dekor brand ranked 1st in China laminated floor sales for 8 consecutive years from 1998 to 2005



Background:
Asia Dekor Holdings Limited has been listed on the main board of the Singapore Exchange Securities Trading Limited since November 1999. It is the largest producer and distributor of laminated floor and related products in China and is recognised as one of Asia's leading floor manufacturing companies. The Group operates a 45,000 sq m factory based in Shenzhen, China, with a current maximum production capacity of 16 million sq m of laminated floor products. Joined with a new business partner, the Group operates a nationwide distribution network and up to 31 March 2003, there are more than 700 outlets in operation. The major shareholder of the Company is Hi-Power Management Ltd, an investment holding company.

Historical EPS ($) 0.02390
Rolling EPS ($) 0.02428
NAV ($) 0.1805
Historical PE 5.858
Rolling PE 5.766
Price / NAV 0.776
Dividend ($) 0.00524452
Weeks High 0.215
Dividend Yield (%) 3.74652
Weeks Low 0.085
Market Cap (M) 124.816
Issued & Paid-up Shares c891,544,000

BioTreat Update ($0.515, 10 Nov 2006)

BioTreat Update ($0.515, 10 Nov 2006):

(1) Before that fateful plunge on 30 Aug 2006 (Circle):

Some bearish signs started to appear sometime in mid-August:

- The initial formation of a Death Cross
- Detiriorating Stochastics and William's %r


(2) Current conditions (Rounded Rectangle):

- There are too many unpleasant news (Textboxes with red titlebars)
- Price trending downwards
- All indicators are pointing down
- Possible support at $0.39 (Blue Lower Price Band Line in Chart 1)

Note: Click on picture for an enlarged view.

BioTreat ($0.845, 31 Aug 2006):

There are tell-tale signs of bearishness long before the plunge on 30 Aug 2006:

- Formation of the Death Cross on 17 Aug, indicating the start of the bearish downtrend (Circled, Chart 3 below)
- The Bearishness signal continued to rise (Chart 3)
- The Bullishness and other signals continued to fall (Charts 3, 6, 7 & 8)

Price Targets:

- DBS: $0.70, Sell
- CIMB: $1.11, Sell
- CitiGroup: Sell
- SIA Research: $0.79 (http://forum.shareinvestor.com/forum/attachment.php?attachmentid=6755&d=1157076366)

A Comparison Among 3 Groups of Stocks (06 Oct 2006)

A Comparison Among 3 Groups of Stocks (06 Oct 2006):

15 Aug 2006 was used as the reference point for the comparison, as it was the date when the 3 groups started to go different ways:

1. The China Stock Group (Black, comprising the Prime Partner's 25 China Index Stocks) had bottomed up and is testing its current resistance level;

2. The Precision Plastic Group (Blue) has been rising. The more outstanding ones are Meiban (Bullishness 25, Bearishness 8) and Hi-p (Bullishness 29, Bearishness 11).

3. The China Pharma Group (Red) continued to fall. In this group, Star Pharm had made a noticeable recovery towards the last couple of trading days but the volume was low.

PrimePartner's China Index Components (29 Sep 2006)

PrimePartner's China Index Components (29 Sep 2006):

Their Group Average Price and Group Total Trade are shown in Charts 1 and 2 respectively:

(Click to enlarge view)

As a group, their Group Average Price has been range-bounding recently, and is currently at its resistance level (Chart 1 above) with Group Total Trade declining (Chart 2). Although only the first few stocks have been bullish in the past 2 weeks, there could be hidden gems among them waiting to be discovered in the near future:

beauty china holdings limited (sgd)
cosco corporation (s) ltd (sgd)
pine agritech limited (sgd)
sp chemicals ltd (sgd)
sinomem technology limited (sgd)
midas hldgs limited (sgd)
people's food holdings limited (sgd)
asiapharm group ltd (sgd)
celestial nutrifoods limited (sgd)
fung choi media group limited (sgd)
china merchants hldgs(pacific) (sgd)
china paper holdings limited (sgd)
cht (holdings) ltd. (sgd)
united food holdings limited (sgd)
bio-treat technology limited (sgd)
ferrochina limited (sgd)
fibrechem technologies limited (sgd)
china sun biochem tech gp co. (sgd)
china petrotech holdings ltd (sgd)
china dairy group ltd (sgd)
memtech international ltd (sgd)
delong holdings limited (sgd)
china flexible pack hldg ltd (sgd)
full apex (holdings) limited (sgd)
united envirotech ltd (sgd)

Note: The stocks were assigned equal weightings in the above computation.

China Pharma Stocks Update (27 Sep 2006)

China Pharma Stocks Update (27 Sep 2006):

China pharma stocks (blue) continue to drift lower and China textile-related stocks (red) started to show signs of weakness:


Note: Colored sticky notes are now available in the latest version of Top10. Click here to Download a free trial copy and visit this site for illustrations on how to use the software.


China Pharma Stocks Update (08 Sep 2006)

Most of the China stocks either rise or stay stagnant in August, with the exception of the Pharma Group which continues to slide (light brown color in Chart 1):

Counters in this group are (in order of their Bearishness):

1. AsiaPharm (55, Shown in chart below)
2. C&O (36)
3. Reyoung (29)
4. Star (16)
5. Tianjin (16)
6. Pharmesis (0)

AsiaPharm's share price did a Death Cross on 04 Aug (Chart 3 above) and its Bearishness signal has been rising while its Bullishness signal stays close to zero since then.

China Pharma Stocks (01 Sep 2006)

Both Group Average Price (Chart 1) and Group Total Trade (Chart 2) continue to fall since April and early May: