Tuesday, August 26, 2014

Sky One

Sky One: share price has been rising steadily since mid Aug, after an extended period of consolidation. From a technical perspective, the counter looks poised to make a bid for the $0.20 resistance (early Nov '13 high). Nevertheless, caution is advised as the indicators are reflecting very overbought conditions. 1QFYMar14 results released around mid Aug showed improvement, but weren't particularly meaningful. Net loss narrowed to HK$0.9m from HK$2.2m a year ago. Revenue jumped 52% y/y to HK$62.2m, driven by higher volumes of its Express Land transport and Coal Logistics division. BVPS at HK$0.21 ($0.034) The key focus remains Sky One's on-going proposed acquisition of Energy Prima, an Indonesian coal mining business.

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