Prior to his retirement, Chan Kit Whye worked more than 30 years as Regional Finance Director, Financial Controller and Manager in a multinational specialty chemical business. He has played an active role in CPA (Australia) Singapore Branch, taking up positions in its Continuing Professional Development and Social Committees. Kit Whye is a Fellow of CPA Australia, CA of Institute of Singapore Chartered Accountants and CA of the Malaysian Institute of Accountants. He holds a BBus(Transport) Degree from RMIT, MAcc Degree from Charles Sturt University and MBA from Durham Business School.Asian Pay TV Trust: For gamblers only. This stock offers more than 10% dividend yield, but the payout comes from both operations plus remains from IPO proceeds.  Asian Pay TV Trust has a market cap of S$1.08 billion. Chart: FT.com |
Ramba is engaged in oil and gas exploration and production in Indonesia. It ventured into the energy sector in 2008 with the goal of becoming a significant energy producer in Indonesia. Photo: CompanyRamba Energy: Reported Q4 2013 loss of $4.4 million as compared to prior year Q4 of $1.9 million. Its full year 2013 loss stood at $15.7 million, 105% more than its previous year's loss of $7.5 million.
Loss per share was 4.5 cents. Free cash flow was negative at $5.7 million.
Its cash balance increased by $1.2 million despite a rights issue with proceeds of $18.4 million, and $13 million being utilised for the acquisition of intangible assets.
Its NAV per share stood at 17.29 cents.
In 2013, all its three segments - Oil & Gas, Logistics and Rental - reported losses.
Its share price will get hammered down tomorrow but the directors are trying their luck by making an announcement that its Drill Stem Test results at the Akatara-2 appraisal yielded positive results, with initial flow rates of up to 2,300 barrels oil per day.
Given the positive DST results and commercial flow rates from the Selong-1, Akatara-1 and Akatara-2 exploration wells, the Company shall begin to make preparations for commercial production and will submit the plan for development to the relevant authorities in due course.
But its current price-to-book ratio is 3.3 times, and I wonder how far can its share price go with such poor performance in 2013.