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Sembmarine

krisluke
Supreme

28-Aug-2012 13:17

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Sembcorp marine ($5.06) — Temporary consolidation

A temporary retreat is underway. This should find support as it approaches the rising 50- day moving average at $4.87. If the market remains resilient, prices should not fall below $5. Overall, the uptrend remains intact, and is supported by the positive cross between the 50- and 100-day moving averages made about a week ago. Quarterly momentum is in positive territory, and rising.

The break above $5.14 indicates an initial target of $5.40 to $5.50 and an eventual upside of $6.20.

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krisluke
Supreme

25-Aug-2012 12:47

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Sembcorp Marine: Citi maintains Buy with TP$6.10 on discussion with mgmt. Recent drillship win with Sete Brasil shows shift in co’s capabilities from jack-ups/semi-subs to drillships.

SembMarine also believes its new yard in Espirito Santo is ideally located and will be able to obtain maintenance and repair contracts near the oil-rich Tupi yields.

Demand is expected to remain firm across jack-ups, semi-subs and drillships with rigs prices to appreciate slightly resulting in higher margins. Its new yard in Sg will also be fully operational by 2013 and add $500-600m rev of high-margin repair work.

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broadfeet
Member

24-Aug-2012 20:57

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not sure if the price is right but buy at 20ema support 5.00

disclaimer : L-trader (taking some risk in today down market)

1419242 ( Date: 24-Aug-2012 01:39) Posted:

thanks for sifu's advise~~

at which price does sifu think its a good buy?

ozone2002 ( Date: 22-Aug-2012 09:40) Posted:

wait for dip then buy... don't chase

Sembcorp Marine: Upside potential still there
Sembcorp Marine (SMM) has been one of the top performers in the O& M space so far this year due to several reasons: 1) demand for the group’s products remain high, supported by oil prices and buoyant activities in the industry, 2) its good track record and efforts to stay ahead of the curve have positioned it well to secure new orders, 3) its strong orderbook provides defensiveness when uncertainty in the global economy has resulted in a general lack of clarity in corporate earnings outlook, and 4) contracts have been forthcoming so far this year. Looking ahead, the above-mentioned factors are likely to remain for the medium term, and we still see upside potential for the stock based on forward valuations. We are also increasing our new order win estimate to S$9.5b (from S$8.7b) as we expect more contract wins. As such, our fair value estimate increases from S$5.69 to S$6.09. Maintain BUY

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1419242
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24-Aug-2012 01:39

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thanks for sifu's advise~~

at which price does sifu think its a good buy?

ozone2002 ( Date: 22-Aug-2012 09:40) Posted:

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sgnewbie
Master

22-Aug-2012 13:43

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http://sgxreports.blogspot.sg/2012/08/sembcorp-marine_22.html

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ozone2002
Supreme

22-Aug-2012 09:40

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KepcorpSembmar
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18-Aug-2012 02:48

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Additional US$950m contract coming , will break the 52 week high of $5.43 this month !

ozone2002 ( Date: 10-Aug-2012 10:29) Posted:

Keppel Corp has secured two contracts worth a total of about

US$950m from the Petrobras-led consortiums, Guara BV and

Tupi BV, for the fabrication and integration of topside modules

on the Floating Production Storage and Offloading vessels

(FPSO) P-66 and P-69. As part of the agreement, Petrobras has

an option for a similar contract to be exercised by 1Q 2014.

These latest orders bring Keppel’s FY12 YTD order wins to

S$8.5bn (vs. full year order wins assumption of S$11.2bn), and

raises its order backlog to S$14.6bn. Maintain BUY on Keppel,

TP S$13.20. Based on previous reports from Upstream, we

believe Sembcorp Marine is next in line to secure 2 of such

FPSO projects, with similar value.

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ozone2002
Supreme

17-Aug-2012 10:44

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Sembcorp Marine BUY TP: SGD6.20

33.2%

4.3%

Below

- Margins came in slightly below expectations, but we attribute it to timing issues

Positive - Robust contract win momentum supports positive view on offshore activities

- Slump in global economy resulting in lower oil prices, freezing of credit markets and oil companies hold back on spending - Lower than expected order wins - Lower than expected margins - Competition from Korean yards

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sgnewbie
Master

17-Aug-2012 09:37

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http://sgxreports.blogspot.sg/2012/08/offshore-marine.html

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krisluke
Supreme

15-Aug-2012 09:57

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SembMarine: Secured a contract worth US$135m from Diamond Offshore for the Ocean Apex Project. Schedule for delivery in 2Q2014. The rig will be capable of operations in depth of up to 6k ft and have crew capacity of 140 personnel.

The construction will be done through utilizing an existing hull from Diamond Offshore and is a continuation of Diamond’s ongoing fleet renewal program.

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niuyear
Supreme

14-Aug-2012 10:22

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Yes sir, sembmarine cant fail people.

ozone2002 ( Date: 14-Aug-2012 10:21) Posted:

Del monte KETCHUP!

gd pedigree horse.. sembmar! 516

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ozone2002
Supreme

14-Aug-2012 10:21

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Del monte KETCHUP!

gd pedigree horse.. sembmar! 516

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alexmay
Veteran

13-Aug-2012 10:09

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still have 9 more rigs for award, Any chance for SemMarine to be awarded. Any sifus have information?

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ozone2002
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13-Aug-2012 09:04

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sembmar 5.07.. catching up with Kepcorp on its rally..

gd luck dyodd..

ozone2002 ( Date: 10-Aug-2012 10:06) Posted:

5.05 sembmar playing catchup with Kepcorp's rally.. still have dividend to give out..

gd luck dyodd..

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ozone2002
Supreme

10-Aug-2012 10:29

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Keppel Corp has secured two contracts worth a total of about

US$950m from the Petrobras-led consortiums, Guara BV and

Tupi BV, for the fabrication and integration of topside modules

on the Floating Production Storage and Offloading vessels

(FPSO) P-66 and P-69. As part of the agreement, Petrobras has

an option for a similar contract to be exercised by 1Q 2014.

These latest orders bring Keppel’s FY12 YTD order wins to

S$8.5bn (vs. full year order wins assumption of S$11.2bn), and

raises its order backlog to S$14.6bn. Maintain BUY on Keppel,

TP S$13.20. Based on previous reports from Upstream, we

believe Sembcorp Marine is next in line to secure 2 of such

FPSO projects, with similar value.

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sgnewbie
Master

10-Aug-2012 10:25

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http://sgxreports.blogspot.sg/2012/08/sembcorp-marine_10.html

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ozone2002
Supreme

10-Aug-2012 10:06

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5.05 sembmar playing catchup with Kepcorp's rally.. still have dividend to give out..

gd luck dyodd..

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krisluke
Supreme

09-Aug-2012 09:11

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[Trading Central] Sembcorp Marine: rebound in sight.

08 Aug 2012 11:29

Update on supports and resistances.

Short Term View (Rise, Limited Rise, Consolidation, Limited Decline, Decline)	Limited Rise
Change In Short Term View	None
Medium Term View (Bullish, Range, Bearish)	Range
Change In Medium Term View	None

Pivot: 4.62

Our preference: Long positions above 4.62 with targets @ 5.15 & 5.38 in extension.

Alternative scenario: Below 4.62 look for further downside with 4.38 & 4.18 as targets.

Comment: the RSI calls for a bounce.

Key levels
5.6
5.38
5.15
4.98 last
4.62
4.38
4.18

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ozone2002
Supreme

08-Aug-2012 11:23

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Order book at record S$11.6bn

At long last, Sembmarine has inked aformal contractto build five more drillships worth US$4.03bnfor Sete Brasil. This lifts its YTD new orders to S$8.1bn,for a recordorder bookof S$11.6bn. Stronger-than-expected orders could be itscatalysts.

Maintain Outperform, EPSand target price (18x CY13 P/E, +1SD of 5-year mean). YTD wins form80% of our unchanged S$10.2bn target. Backed by the current drillships, Sembmarine could be expected to be awardedmore unitsbyPetrobras.

What Happened

Sembmarine has finally signed contracts with Sete Brasil to build five more drillships for US$4.03bn.Add to that anearlier unit fromSete Brasil in Feb12, Sembmarine has won US$4.8bn drillshipcontracts fordelivery from 2Q15 to 2Q19. Each delivery will be 6-9 months apart.

What We Think

We are happy that the contracts have materialised, after a long 3-year wait. These drillships are priced 1.8% higher than the first unit. Some 35-45% of the construction workwill take place in Singapore. Construction for the first unit has started and will be20% completed and recognised by 4Q12. Management still looks forward to14-15%EBIT margins in the longer term. Assuming Sembmarine is able to bagS$4bn new orders p.a.from 2013, we expect earnings growth of 15% for 2014-16.

What You Should Do

Stay invested for more positive newsflow. Sembmarineis in the running for at least another US$3.8bn projects, including two FPSO topsides from Petrobras. Yard availability would allow itto fast-track jack-up-rig delivery in4Q13/1Q14vs.Keppel’s 3Q14.

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krisluke
Supreme

08-Aug-2012 10:38

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share of thot... ...

Resistance $5.03, $5.06, $5.15 ... ...

Support $4.96

Broke... $4.93 (hovering the past few days)

Most impt , close the gap after temasek mass selling !!

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