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Latest Forum Topics / YZJ Shipbldg SGD Last:2.44

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Cruising with the ship ..Yangzijiang

dizzifying
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26-Apr-2010 16:49

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So i should short still??

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solar2008
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26-Apr-2010 16:48

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This guy already broke the 1.36 resistance. The next resistance is 1.32.

dizzifying ( Date: 26-Apr-2010 16:44) Posted:

hmm, i wonder when can this baby pick himself up. stuck!

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pharoah88
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26-Apr-2010 16:47

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are yOu gOd ? ? ? ?

CheongCK ( Date: 26-Apr-2010 14:28) Posted:

Fruits Gets Bigger

Cherry Picks

pharoah88 ( Date: 23-Apr-2010 10:17) Posted:

With this PARADIGM, it is bEttEr fOr it tO drOp TiLL FLAT FiRST.

thEn, EvErybOdy CHERRY PiCKS TiLL One's DESiRE is SATIATED

T G i F

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dizzifying
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26-Apr-2010 16:44

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hmm, i wonder when can this baby pick himself up. stuck!

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solar2008
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26-Apr-2010 16:40

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BBs are shorting this guy in vol...good luck for those. Before the annoucement, BB already short..

tanh2l ( Date: 26-Apr-2010 16:18) Posted:

got hit by torpedoes!

sinking like sembmarine...joining the sembcorpse

ruanlai ( Date: 26-Apr-2010 14:35) Posted:

Short it and huat lar....

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viromics
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26-Apr-2010 16:39

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Yells: "Trade for survival not for riches"

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Hi, Risktaker,

where are you, the boat is sinking, please rescue...101,

viromics ( Date: 24-Apr-2010 21:46) Posted:

I trust Risktaker, and will stand on his side. fundamentally, YZJ is strong.

risktaker ( Date: 24-Apr-2010 14:53) Posted:

Let u know a secret :) There a couple of traders out there waiting to cover their shorts on monday :P I want to see them Cry as they short in the friday morning and didnt have the chance to cover back.

I want them to cover high.

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tanh2l
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26-Apr-2010 16:18

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Yells: "Outcome is the proof to all brilliant processes."

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got hit by torpedoes!

sinking like sembmarine...joining the sembcorpse

ruanlai ( Date: 26-Apr-2010 14:35) Posted:

Short it and huat lar....

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ruanlai
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26-Apr-2010 14:35

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Short it and huat lar....

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CheongCK
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26-Apr-2010 14:28

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Fruits Gets Bigger

Cherry Picks

pharoah88 ( Date: 23-Apr-2010 10:17) Posted:

With this PARADIGM, it is bEttEr fOr it tO drOp TiLL FLAT FiRST.

thEn, EvErybOdy CHERRY PiCKS TiLL One's DESiRE is SATIATED

T G i F

CheongCK ( Date: 23-Apr-2010 08:25) Posted:

ITS UPTREND.

The lower it drop, The fruits gets bigger

The Edge

Mid-Week Comment April 21: Offshore optimism

Written by Goola Warden
Thursday, 22 April 2010 10:03

.............. . ... . ..
Separately, Yangzijiang has applied to the TWSE (Taiwanese Stock Exchange) to list its TDRs on that exchange,
according to the Taipei business press.

Actually, investors had started to take a second look at the marine and offshore sector before these two events.
The trigger was probably the announcement by Cosco Corporation back in March that it had clinched a repeat
order from Sevan Marine for its one-of-kind cylindrical semi-sub. This time, the order value was US$500 million
compared to US$190 million for the first semi-sub in 2006.

Then on Apr 16, Brazilian oil major Petrobras announced it had signed on Apr 4 a “Strategic Cooperation
Agreement with China Petrochemical Cooperation (Sinopec) and China Development Bank Corporation (CDB)
aimed at assessing mutually beneficial opportunities on the areas of cooperation.”

According to the announcement by Petrobras, the agreement includes the cooperation between Petrobras and
Sinopec in Exploration & Production (E&P); Downstream; Petrochemical and Fertilisers; and Services and
Procurement.

“In the E&P area, there stands out the intention of the parties to assess future partnerships, including the
possibility of selling part of Petrobras’s interest in blocks BM-PAMA-3 and BM-PAMA-8, located in the
Para-Maranhao Basin,” the announcement states. Petrobras also said that it is negotiating on financing with
China Development Bank Corporation. Sinopec may need an additional two semi-subs to develop the two blocks
and analysts believe the order could go to state-owned Chinese shipyards such as Cosco.
............................ .. . . .

CHART VIEW
.................. .. ..

Offshore and marine stocks such as Baker Tech, Yangzijiang, Cosco and SembMarine have
run up significantly and are now experiencing consolidations/corrections.

Their uptrends remain very much intact and there is nothing yet to suggest a reversal. Note
though that Yangzijiang has developed a short-term bearish formation in the candlestick charts,
but the correction should be temporary.

........ . .. .... ...        ....

Announcement Title * COSCO CLINCHES CONTRACT WORTH MORE THAN USD500 MILLION FOR SEVAN DRILLER II RIG
http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_ED5818EDA4FBAA0D482576E700162DB6/$file/COSCO_Annt_COSCO_SevanDrillerIIRIG.pdf?openelement

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dizzifying
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26-Apr-2010 14:28

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Yeah I thought it should go North? Wrong direction!!!!

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philgoh
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26-Apr-2010 14:14

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She likely going for southern tour. 130 pax. Board at Blakang Mati.

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boliaoguy
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26-Apr-2010 14:09

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lol... dont know why... move down to 1.40 after lunch... wonder why ppl is rushing to sell? any idea?

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sgxinvestor
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26-Apr-2010 14:05

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S$1.75

-confident on Yangzijiang’s earnings delivery and expect new order wins for
shipbuilding to be a near term catalyst

-Other catalysts are successful commencement of its ship breaking yard in 2H10
and potential dual-listing in HK/Taiwan.

boliaoguy ( Date: 26-Apr-2010 13:42) Posted:

From: DBS Vickers

Hurdles to the PPL deal?
• YZJ’s offer to acquire PPL Hldgs accepted by Baker Tech.
• But SMM attempts to block the deal
• YZJ buying at record earnings, potential hurdles on
technology transfer without SMMs’ blessings.
• Acquisition financed by new shares, impact on EPS
capped at 2.2% in the worst case scenario. Maintain
BUY, TP of S$1.75.
Offer accepted by Baker. Subsequent to its acquisition proposal
on 17th Apr, Yangzijiang announced that Baker Technology (Baker)
has accepted the offer made by Yangzijiang and the other two
investors to acquire the entire stake in Baker's wholly owned
subsidiary PPL Holdings (PPLH) for US$155m.
No support from SMM. To recap, PPLH owns 15% interest of PPL
Shipyards, the other 85% is held by Sembcorp Marine (SMM).
SMM has, through its legal advisor, indicated that any sale by
Baker would be made in circumvention of the pre-emptive rights of
SMM by not giving SMM a first right of refusal over the sale of
PPLH’s stake in PPL. Baker has however clarified that SMM has no
basis for the claim and Baker has the legal right to proceed with
the sale of PPLH.
Potential hurdles on technology transfer. We believe
Yangzijiang's aim is to learn the technology know how from SMM,
which will not be an easy task without support from SMM. At 3x
P/BV, the acquisition is not cheap, considering it is buying at record
earnings, (4.0x FY09 PE), and earnings is set to decline following
the completion of four jack ups this year and two next year.
Dilution on EPS capped at 2.2%. As the acquisition is financed
by new YZJ shares, the maximum dilution on EPS is capped at
2.2% in the worst case scenario. However, the implication is that
even if the deal goes through, there remains uncertainties if YZJ is
able to benefit from any technological transfer without the support
of SMM.
Still positive on Yangzijiang’s prospect. We remain confident
on Yangzijiang’s earnings delivery and expect new order wins for
shipbuilding to be a near term catalyst. Other catalysts are:
successful commencement of its ship breaking yard in 2H10 and
potential dual-listing in HK/Taiwan. Our target price is maintained
at S$1.75, pegged at 14x FY10 earnings. Maintain BUY.

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boliaoguy
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26-Apr-2010 13:42

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philgoh
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26-Apr-2010 12:08

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ANNOUNCEMENT BY SEMBCORP MARINE LTD

Singapore, April 26, 2010 : The Company presently holds an 85% shareholding
stake in PPL Shipyard Pte Ltd (“PPL Shipyard”). PPL Holdings Pte Ltd (“PPLH”), a
wholly owned subsidiary of Baker Technology Limited (“Baker Tech”), holds an
aggregate direct and indirect 15% shareholding interest in PPL Shipyard.
On 17 April 2010, the Board of Yangzijiang Shipbuilding (Holdings) Ltd
(“Yangzijiang”) announced, inter alia, that it had issued a binding letter of offer to
Baker Tech to acquire the entire issued and paid-up share capital of PPLH (“the
Offer”). The Company had through its solicitors, Drew & Napier LLC, sent a letter to
Baker Tech and PPLH asserting, inter alia, that the circumstances have triggered
its pre-emption rights over its aggregate 15% stake in PPL Shipyard. The
Company has also put Yangzijiang on notice of its rights.
The Company is now assessing the position taken by both Baker Technology and
Yangzijiang and will make the appropriate announcement in due course.

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sgxinvestor
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26-Apr-2010 10:30

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Sori guys! FYI, FZR = Fei Zhu Rou!!!

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sgxinvestor
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26-Apr-2010 10:28

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Deal or Not Deal! YZJ win Big Big on both outcome.

See below:

(1) PPL is valuable! SembMar and YZJ both want this FZR for business expansion.

(2) YZJ also can sue Baker Tech for millions if they break the PPL deal.

(3) Baker Tech "Jiak Lak" liao!

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hawke009
Senior

26-Apr-2010 10:20

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Yes, after the acqusistion. It is indeed much more attractive.

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sgxinvestor
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26-Apr-2010 10:17

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YZJ is very very attractive now, P/E is 11.3 only!

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tradersgx
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26-Apr-2010 00:08

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sgxinvestor ( Date: 25-Apr-2010 13:01) Posted:

Highlight of the day: "   "I should have bought YZJ when it was $1.43... Now it
                                             was $5.00.." Sounds familiar to a lot of hesitating investor.   "

                                          - CheongCK, 25-Apr-2010 12:36 -

PPL boosted S$5.4 million dividend for Baker Tech in past year 2009, What about this year's dividend?
Who shd receive PPL's 2010 dividend?

Many BBs' plots are very much depending on SHAREJUNCTION's "Prominent Citizens", we computed
the stocks' TA and FA informations, then BBs use it for making the "Market Trends". Cheers !!!

tradersgx ( Date: 25-Apr-2010 02:52) Posted:

PPL is GOOD! BT need to sell it to dress up Nicely.... see attached link for BT's AR2009

http://www.bakertech.com.sg/pdf/BakerAR_2009.pdf

operation_pesb Member	25-Apr-2010 02:23 About operation_pesb Contact Quote!
x 0 x 0 Alert Admin	BT trying to dress up their P/L ? By saying that do you mean that PPL is a loss making associate of BT?
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tradersgx Veteran	25-Apr-2010 01:52 About tradersgx Contact Quote! Style: Combined
x 0 x 0 Alert Admin	Think it again...... and be careful ... ( '.' ) ...... short/mid/long term........... Rationale: BT try to dress up thier P&L? ('.' ) VS Rationale: YZJ enter to the Robust Offshore Sector, and further strengthen YZJ's capabilities in this area and further the Group's development and competency strategies. http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_1117E3B112A9CFA14825770D00326027/$file/BTLQ110.pdf?openelement http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_9C3467846D39391C482576D2005DCC51/$file/PPT.pdf?openelement
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operation_pesb ( Date: 25-Apr-2010 02:23) Posted:

BT trying to dress up their P/L ? By saying that do you mean that PPL is a loss making associate of BT?

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