CSE Global attracting big-name fund investors

Why are Chartered Asset, Fidelity and Amundi all flocking to this supposedly sinking technology company?

It seems that after a disastrous FY11 when profits crashed by 11% after execution failures with its two Middle East telecom projects, CSE Global has managed what could turn out to be a record-breaking rebound.

"CSE has fully recovered, reporting a net profit of $12.6m in 1Q12, flat YoY but up 34% QoQ. So far, the provision has been sufficient to contain the cost overruns," said Maybank Kim Eng in a stock update.

Here's more from Maybank Kim Eng:

2012 looks set to be a record year. Average new orders received as at 1Q12 stood at SGD130m, up about 20% from a year before. Consensus expects CSE to earn SGD58m on average in 2012, above the 2010 peak of SGD52.5m. As a measure of street confidence, even the lowest 2012 estimate of SGD55m exceeds the 2010 earnings peak. Of course, 2012 will be helped by a relatively recent acquisition, Australian telecom specialist ASTIB.

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Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.
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Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley