Coscocorp... the so-called biggest shipyard in China but listing in Singapore...
However, if you take a comparison of how its stock price fares against its closer and much more efficient competitor - Yangzhijiang, you will realise how coscocorp doesn't live up to its reputation.
Furthermore, take a look at its dismayed reports just released today... leading to a sharp selldown of nearly 5%.
Despite an increase in Debt [sorry i accidentally deleted the top heading of the year], look at Borrowings from 555,148 to 1668,322 (300% INCREASE IN BORROWINGS!) and they still raked in a loss of 44% in Net Profit!
They have highlighted its all due to the higher raw materials and costs etc.. However, why is it that other firms like Yangzhijiang can perform much better than them? It boils down to the internal problems in Coscocorp and management team, in short, CMI.
Following the major turn in the stock markets outlook now, I have capitalized on the downtrend & taken a Short-Sell position on Coscocorp at the price of $1.225. Hope it works out! :D
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