China Everbright (formerly: HanKore Environmental Tech Group)

It will be interesting to see if Asdew continue to increase its stake in Hankore after the heavy dilution.

Came faster than I expected. Hit CIMB downgraded TP 91 cents today.

(10-06-2014, 09:03 AM)BestPrice Wrote: Wow! 97 cents hit already. Looks like 91 cents might be possible in the coming days.

(09-06-2014, 01:09 PM)Tiggerbee Wrote: CIMB downgraded the TP to 91c.

There are now 2 Polarising analyst camps in Hankore now.

At one corner, there is Maybank and OSK analyst who are issuing buy calls. Interestingly they are saying a forecast forward P/E of 30x for Hankore isn't expensive. At the other corner, Kay Hian and CIMB analyst who are recommending a sell because 33x forward P/E is too expensive. It is rather interesting. In my view, for a stock to trade at 30x P/E is pricing very optimistic expectations that its earnings will double over 5 years. Let alone to trade at forward P/E of 30x.

Like it or not, earnings is what drives a stock prices over the long run and not because it is the in flavor.

The camp in favour of buying HanKore might as well go for China Everbright..

(22-06-2014, 10:59 AM)CY09 Wrote: There are now 2 Polarising analyst camps in Hankore now.

At one corner, there is Maybank and OSK analyst who are issuing buy calls. Interestingly they are saying a forecast forward P/E of 30x for Hankore isn't expensive. At the other corner, Kay Hian and CIMB analyst who are recommending a sell because 33x forward P/E is too expensive. It is rather interesting. In my view, for a stock to trade at 30x P/E is pricing very optimistic expectations that its earnings will double over 5 years. Let alone to trade at forward P/E of 30x.

Like it or not, earnings is what drives a stock prices over the long run and not because it is the in flavor.

I concur.

Waste Water Treatment (WWT) company should be valued both by PE and PB ratio. By both the ratio, the current market valuation on WWT companies are too expensive, IMO

(not vested in any WWT company)

(22-06-2014, 01:23 PM)Tiggerbee Wrote: The camp in favour of buying HanKore might as well go for China Everbright..

FYI, CEI has more than waste-water treatment business. Those in favour of Hankore, might be only interested on its WWT business.

(22-06-2014, 05:48 PM)CityFarmer Wrote:

(22-06-2014, 01:23 PM)Tiggerbee Wrote: The camp in favour of buying HanKore might as well go for China Everbright..

FYI, CEI has more than waste-water treatment business. Those in favour of Hankore, might be only interested on its WWT business.

Yes, China Everbright's WWT biz was on a much smaller scale, and still smaller than its competitors even after the RTO deal with HanKore.

If they are willing to pay for Hankore's valuation, SIIC and United Env are much cheaper if they are die hard WWT fans. China Everbright is perhaps the most diversified environmental play in China.

http://infopub.sgx.com/FileOpen/ALAN_eFO...eID=317322

Alan Wang raised his stake further @ 0.80395

The company continue to raise capital via equity, instead of "cheap debt" anticipated after the RTO by a major SOE...

China Everbright Water to raise $113.4 million
SINGAPORE (Jan 20): China Everbright Water will raise about $113.4 million by issuing new shares to International Finance Corp (IFC), a member of the World Bank, and RRJ Capital, which focuses on private equity investments in China and South-East Asia.

The Chinese state-owned wastewater treatment firm, which came to market last month following a $1.2-billion reverse takeover of HanKore Environment Tech Group ( Financial Dashboard), will issue 120.7 million shares at 94 cents apiece to IFC and RRJ Capital's wholly owned Dalvey Asset Holding.

IFC will subscribe for 49.7 million shares while Dalvey Asset will take the remaining shares.

China Everbright will use the funds for working capital.
...
http://www.theedgemarkets.com/sg/article...34-million

How do I get the data to value this co? SGX only has legacy information, and the redirected Hankore website does not contain any financials either. Help!