my virgin post

haha... did my virgin post on shareinvestor.... well... actually... maybe its not my first post... but my first informative post.... not something like stupid "Cheong ar!!!" or some sarcastic remark like "Everyone knows you are kateking... no need to shout out loud".. got this guy wanted info on my favourite counter... surprisingly... i managed to type out quite a load of stuff... haha... must've looked at it so often i memorized some of the details

mm.. actually this thread got alot of data on it liaozz...
especially in brother desperado's post
but basically a things that i like about it are

-the prospect of carbon credit sales
-the group's engineering division can design, build and provide a full spectrum support for the biomass plants
-the vision to own and operate 20 biomass plants in 4 yrs time
-China's emphasis on green energy
-China’s Renewable Energy Law will benefit them in many ways such as getting a premium in the sale price of energy to the national grid
-positioned in china where biomass/agriculture waste is in abundance
-Net assets/share is @ $0.20 although i would need to shave off 39 mil of goodwill due to the acquisition of the yima power plant and the progress of the development of biomass projects from the 416 mil net assets
-It has a good team of top management mostly from singapore so you can probably trust what you see in the reports.
-Has a few prominent figures on the board (in my opinion)

A few things i dun like

-Its a tad overgeared at 1.1
-Overgeared therefore it has a very heavy financing cost FY 06 financing cost = 3+ mil
-It tends to dilute our shareholding by issuing new shares and convertible bonds, but it would be the logical thing to do since they are a asset heavy company and they are already overgeared. wondering if they can do anything similar to reits, like a energy infrastructure trust or something
-rise in emphasis on biomass energy may cause shortage of agricultural waste
-the EPS sucks so dun expect anything anytime soon... its more of a VERY long term play
-too many shares... think they should do consolidation....

may sound a little oxymoronic... but juz my 2 cents... the annual report is quite informative... http://www.enersavegroup.com/hope it would drop below 0.15 den can buy somemore keep I would give it another until next yr or at least until more plants are up to see any result, and probably in 2008 when they start selling carbon credits we should see even more results.More of a growth stock... but in my view... infrastructure companies are always worth the wait...

i think i'm going crazy.. gotta stop myself.... lolx