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Pacific Shipping to raise US$92.3m via Pref Offer
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pharoah88
Supreme |
15-Sep-2009 10:53
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An Opportunity Window has just appeared........ PST Price is Higher than Star Cruise Price, both in USD. PST's future based on market forecast is on a down trend. Star Cruise with its recent Opening of World Resorts Manila plus the initiation of the Next Bigger Manila Bay Project has a FUTURE with UPTREND. UNlikely for PST price to move further UP UNless there is NEW things which !?!?!?!? seems IMPOSSIBLE.... Star Cruise price has a VISIBLE UPSIDE........ CHANGE & SWITCH for BETTER VISIBLE FUTURE if you believe in the MARKET MECHANISM. Of course, everything is still subject to MARKET ACTIONS & INVESTORS' REACTIONS Additionally, Star Cruise is RE-named to GENTING HK! NOW The VISION is even MORE VISIBLE! CHEERS! |
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pharoah88
Supreme |
15-Sep-2009 10:22
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Sunday (14 Sep2009) evening news reported that Container Ships have GROWING SURPLUS CAPACITY and falling freight rates for more years. Charterers will take the opportunity to RE-negotiate even SIGNED and COMMITTED CONTRACTS. DPU is likely to fall further.... Today is good time to TAKE PROFIT if you agree with the MARKET MECHANISM. Take Profit BEFORE it is TOO Late. Put the HOT CASH back into your BANKS. |
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pharoah88
Supreme |
04-Sep-2009 13:41
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PST is OVER-PRICEd because it had reduced its DPU by 30% starting from 3Q 2009. It should be worth only USD17.50 after the same 30% REDUCTION on its last traded price of USD0.250. It is time to SHORT it down to Fair Value of USD17.50. When management reduces DPU, the MARKET reduces the Share Price. Use more BRAINS like Einstein! |
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chinton86
Veteran |
20-Jul-2009 11:37
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Yesterday saw 2 stupid dumb gay at suntec PAC SHIP TRUST booth, wondering y pac ship got so much money employ 2 guy sit there take pay and do nothing. | ||||||
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katak88
Senior |
23-Sep-2008 23:24
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Business Times - 16 Sep 2008
PST takes delivery of its biggest vessel so far By VINCENT WEE PACIFIC Shipping Trust (PST) yesterday took delivery of its biggest vessel to date - the 4,250-TEU (twenty-foot equivalent unit) CSAV Laja, increasing its slot capacity by 24 per cent to 21,714 TEUs. It also announced that subscription for its preferential offering to raise about US$92.3 million begins today. The move is aimed at positioning it for yield-accretive acquisitions. The 11th vessel begins its five-year time charter to Compania Sud Americana de Vapores SA today following PST's acquisition of the vessel from Pacific International Lines unit Tranpac Holdings Inc, Panama, which at the same time raises its total indicative asset value to US$435 million. 'Apart from the increased revenue, the entry of this newbuilding is significant because it further diversifies PST's vessel sizes and charterers. CSAV is one of the oldest shipping companies in the world and the largest in Latin America and we look forward to increasing our portfolio of long-term charters to such reputable industry players,' said Alvin Cheng, CEO of PST Management Pte Ltd, the trustee-manager. In November, PST is expected to take delivery of its 12th vessel, bringing total slot capacity to 25,964 TEUs, with a total indicative asset value of US$510 million. Mr Cheng added: 'We have started to see the correction of vessel prices, which we had earlier anticipated - this will provide us with possible opportunities to improve our returns by seeking out yield-accretive acquisitions at the right price. This is in line with our diligently managed growth plans for PST and we aim to continue generating attractive returns to unitholders.' PST's preferential offering will strengthen its capital structure and provide it with an increased borrowing capacity, thus enhancing PST's financial flexibility to pursue medium-term yield-accretive growth opportunities, Mr Cheng said. Singapore-registered unitholders will be able to subscribe for their entitlements from today to Sept 24. The offer is on the basis of three new units at 36.5 US cents each for every four existing units held. 'We look forward to the participation from each and every Singapore-registered unitholder of PST as the preferential offering will lower our debt levels and create room to raise new investment funding to react swiftly to acquisition opportunities when they arise,' said Mr Cheng. PST shares closed half a US cent down at 35.5 US cents yesterday. |
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katak88
Senior |
23-Sep-2008 23:14
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Listing and Quotation of the New Units Further to the letter dated 16 September 2008 to the Unitholders accompanying the acceptance forms and the instruction booklet, and the announcement dated 22 September 2008, Unitholders are to note that the expected date and time of listing and quotation of the New Units on the Official List of the SGX-ST is 9.00 a.m. on 3 October 2008.BY ORDER OF THE BOARD PST MANAGEMENT PTE. LTD. (As Trustee-Manager of Pacific Shipping Trust) Lim Ka Bee, Company Secretary 23 September 2008 |
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katak88
Senior |
23-Sep-2008 23:12
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(A business trust constituted on 25 April 2006 under the laws of the Republic of Singapore) Managed by PST Management Pte. Ltd. PST MANAGEMENT PTE. LTD. (Registration no. 2006025679M) CLOSE OF THE PREFERENTIAL OFFERING AND DATE OF LISTING AND QUOTATION OF THE NEW UNITS Where capitalised terms are used in this announcement and not otherwise defined, such capitalised terms shall bear the same meanings as ascribed to them in the circular dated 12 August 2008 (the " Circular") issued by Pacific Shipping Trust ("PST").
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katak88
Senior |
28-Aug-2008 12:46
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katak88
Senior |
17-Aug-2008 22:58
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Business Times - 12 Aug 2008
Pacific Shipping to raise US$92.3m Proceeds set to finance part of cost of 4 new vessels By VINCENT WEE AS the global credit crunch starts to affect Singapore shipping companies, Pacific Shipping Trust (PST) yesterday announced a plan to raise US$92.3 million from the stock market through a non-renounceable preferential offering of new units. The proceeds are mainly intended to finance and refinance part of cost of four new vessels. PST proposes to issue 252.8 million new units at 36.5 US cents per new unit - a 5.2 per cent discount to the average traded price on Friday - on the basis of three new units for every four existing units. The trust's sponsor, Pacific International Lines (PIL) has undertaken - subject to some conditions - to subscribe and pay for its provisional allocation of the new units, as well as any new units that remain unsubscribed. PIL is the major unitholder of PST with a current direct interest of 34.6 per cent. 'In light of the current tight credit markets, the preferential offering represents a unique opportunity for unit holders to participate in a capital-raising exercise that provides certainty of funding, as it is fully supported by our sponsor PIL,' said trustee-manager PST Management's CEO Alvin Cheng. 'While financing for the new vessels has already been secured, the proceeds of the preferential offering will lower our aggregate gearing, providing us with the financial flexibility to react swiftly as yield-accretive investment opportunities arise.' The move will help strengthen PST's balance sheet and reduce its leverage to 50 per cent from 69 per cent, Mr Cheng said. This will increase PST's borrowing capacity to US$120.5 million and enable it to pursue medium-term yield growth opportunities. Leverage of 70 per cent is about the maximum that lenders are comfortable with, and the fresh capital will give the trust more flexibility. The increased capital base could also increase trading liquidity, with the percentage of trading units potentially rising to 75 per cent if minority unit holders take up all their allotments, PST said. PST closed one US cent lower at 37.5 US cents yesterday. |
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