(Post date : 11 August 2010)
Otto Marine Limited is an offshore marine group specialising in the subsea and deep sea segments. The Group has three distinct business divisions, shipbuilding of specialised offshore support vessels ("OSV"), ship chartering and specialised offshore services operation.
The Group specialises in the building of DNV class, Norwegian design, subsea & deep sea special application vessels. Its high tech shipyard is strategically located in Batam, Indonesia which is close to Singapore. The shipyard also has conversion and repair capabilities.
For chartering, the Group owns and charters out some of the OSVs built on a long term bareboat basis. In addition, the Group holds minority interests in vessels that it sells to strategic partners for chartering purposes.
In 2009, the Group entered into the specialised offshore services business in the seismic and subsea segment through the acquisition of majority stake in Reflect Geophysical Pte. Ltd., which provides marine and geophysical services in the form of 2D and 3D 'high-density' marine seismic acquisition services to the oil and gas exploration industry.
| 2008 |
Successfully listed on the Mainboard of the Singapore Stock Exchange on
28 November 2008
Entered into agreement to build the Group’s first offshore construction vessel
Established a representative office in China |
| 2007 |
Secured the Group’s first orders for 21,000 bhp AHTS vessels and
diesel electric driven PSVs
Commenced strategic partnerships with fleet operators for the
chartering business.
Commenced chartering operations with five tugs and five barges.
Established a branch in the UAE to further support Middle East
chartering business
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| 2006 |
Secured orders for 10,800 bhp AHTS vessels, the Group’s first orders
of sophisticated deep water offshore vessels. |
| 2005 |
Delivered first AHTS vessel |
| 2004 |
Divested Tuas Shipyard, began focusing on production of offshore vessels |
| 1996 |
Invested in additional facilities and equipment for shipbuilding, including
the construction of the Syncrolift® |
| 1994 |
Incorporated PT Batamec and expanded shipyard |
| 1986 |
Established JV to develop and operate a shipyard in Batam |
| 1981 |
Established a shipyard in Tuas, Singapore |
| 1979 |
Company incorporated as Otto Industrial Co (Pte) Ltd, focused on ship
repair and building of tugboats and barges |
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SELL!!
Stock price is close at about $0.39 (12th August 2010), the chart shows that it will drop soon and most probably will reach the 78.6% retracement (where $0.295 as the lowest and $0.574 as the highest) at the price of $0.355. Currently, there is no sign of going up as the trend of the stock is in downtrend and whole market is NOT in BULLISH term. Futhermore the recent highest (resistance) always lower than the previous highest (resistance).
As you can see from the chart, January 2010 highest is at about $0.57, the highest at April 2010 is at about $0.52, and the recent highest during June 2010 is at about $0.43. The recent highest always lower than the previous resistance, this shows that stock is lack of energy as well. Most probably, stock price will go down to reach $0.355 (78.6% retracement) in near term. If the price go below the strong support at about $0.36 and break this support line, the stock price will be going further down.
So, if you hold this stock, might need to consider for SELL now before it is too late to sell. Be careful as penny stock is easily control by few parties as the price is not expensive and almost anyone can buy it. When in the uptrend, you may easily earn profit much, when in the downtrend, you may lose lots money as well. And it is quite obvious, this few months stock market will be in downtrend after a long BULL RUN since 2009. So, this coming few months, it won’t be good for the stock market.
All the best.
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