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Labroy Marine

winfully
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01-Oct-2007 22:34

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Remember media release on 30 Aug 2007 by Labroy's Chairman? Chairman claimed that " Mr KK Ng has kindly consented to take on an advisory role to the Chairman of the Group on matters relating to the Group's rig building program"....in fact already tender resignation letter....

When asked to comment on the progress of the jack-up rig, Mr Tan responded positively, ?The progress of the first jack-up rig is running smoothly. The construction of the rig is on schedule.? Will it be the same as KK Ng case?....

Today Labroy share down to 2.35 immediate after share market open. Share went up to 2.41 simply becouse some people still don't know KK Ng lefted....

jackjames, be patience lah. Chances for this counter down very high....

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chinton86
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01-Oct-2007 19:49

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Labroy seems like a dead ship....I just cleared all of my Labroy...

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nickyng
Supreme

01-Oct-2007 17:19

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be patience lah...your chance will go....hee...i am waiting.....to STRIKE !! :P

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jackjames
Elite

01-Oct-2007 15:58

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please help, nickyng, i am waiting to collect ..

LOL.. if can, short it to 1.99, LOL..

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nickyng
Supreme

01-Oct-2007 15:57

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means....can start SHORTing now? hee....anyway din drop alot...2.37 now only :P

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winfully
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29-Sep-2007 00:31

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There are rumours on 30 Aug 2007 that KK Ng who came from sembM to head their rig building development has left. Share down by 24 cts closed below S$2.00.

Now, KK Ng lefted...

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invest&earn
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29-Sep-2007 00:06

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About KK Ng leaving, what a bad news again ....

Disappointed !

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787180
Master

28-Sep-2007 19:30

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Hi anyone here thought of buying Labroy marine's 38% owned subsidiary BengKuang Marine..proposing 1 for 3 stocksplit..any comments?..details of bengkuang are as follow

Story Beng Kuang Marine (BKM) is primarily engaged in the business of providing corrosion prevention and infrastructure engineering services to the marine, offshore, and oil and gas industries. They also supply and distribute over 300 types of hardware equipment, tools and other products under their house brand Master".

- Point We expect BKM's three strategically integrated business divisions to benefit from the booming industry outlook, and its parent company Labroy Marine's strong expansion plans. Specifically, the building of more rigs and offshore vessels will generate more outsourcing projects for BKM's fast emerging infrastructure engineering business and higher activities for its provision of hullside corrosion prevention services.

- Relevance We predict BKM's net profit CAGR in the FY07-09 forecast periods to be 41%, attributable to high-double digit revenue growth and better operating leverage. We value BKM at 16x FY08 PER, which gives a fair value of S$1.10. We initiate coverage on BKM with a BUY rating.

- BKM to benefit from Labroy's venture into offshore market. Labroy has secured newbuild contracts for four jackup rigs and two heavy lift jack-up vessels. We expect BKM to benefit significantly from Labroy's venture into the offshore sector, through 1) the proximity of its infrastructure engineering facilities to Labroy's yards in Batam, 2) its established business relationships with Labroy for its three business divisions, and 3) Labroy's 38% stake in BKM which provides financial incentives given that profits flow back to the parent company.

- Infrastructure engineering business not solely dependent on Labroy. BKM is already actively increasing its capacity to ride on the growth of other rig and offshore builders in the region, like Keppel Corp. BKM has spent S$1.87m to purchase a 30-year leasehold waterfront land from the local authority, with waterfront of approximately 350 metres. BKM will develop the 32.8 hectares of land to more than quadruple the current capacity of its Infrastructure Engineering's fabrication facilities on Batam. We believe that these new facilities will position BKM to ride on the booming offshore and marine industry in the region; as capacity is now available for BKM to handle more oilrig module fabrications.

- Market leader for the provision of external corrosion prevention services. We believe that BKM is the leading provider for hullside corrosion prevention services in the region. BKM is the resident contractor for seven shipyards in Singapore, as compared with its fragmented competitors relationships with 1 to 2 shipyards each. There are typically 2-3 resident contractors in each shipyard, and BKM believes that it is the leading contractor among them with more than 50% market share in each yard.

- Expect strong earnings growth ahead. We are projecting 30% revenue CAGR in our FY07-09 forecast periods; driven by across-the-board strong growth from all business divisions. The infrastructure engineering business is expected to exhibit the highest growth in our forecast periods, due to expectation of higher outsourcing orders from the regional yards. We project BKM's revenue to rise 40.9% y-o-y to S$99.4m and net profit to rise 59.6% y-o-y to S$6.1m in FY07.[/quote]...

It's time to accumulate...don't wait till EGM for proposal of 1 for 3 stocksplit to be approved..sure approval...who will vote against it...thinly traded counter as CEO ,Labroy marine related parties hold > 38%..at 84cts and adjusted for the split is about 21cts...sure can make

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thatman
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28-Sep-2007 18:58

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Ng K K is leaving... gosh...Announcement came in after 5pm via SGX. Should expect some volatility on monday...Trade with care folks.

ttman

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thatman
Member

27-Sep-2007 23:22

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What happen to Lab??? Y such a drastic fall when everthing seems to be up. Strange...Is it the Ang Mos at work again... sigh... Heavily vested. Hope it chiong tomm.

ttman

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TonyOng76
Member

21-Sep-2007 15:48

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If anything, i'd fancy a short. Especially if Dow closes down tonight. STS, RSI, MFI all starting to show overbought. Volume is drying up too.

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stockwhizz76
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21-Sep-2007 15:38

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surging up.

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stockwhizz76
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21-Sep-2007 09:42

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fancy a short for today? :P

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nickyng
Supreme

20-Sep-2007 17:13

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wow...cool! congrats! abit down on luck today..covered at 2.41 with buyQ at 2.42 at closing :P !! lost abit though...hee...but the thrills is there :P

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limkt009
Veteran

20-Sep-2007 16:47

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Yells: "Watch your front, grab $$$$$ at your own time"

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Cool money, brought today @$2.39 x 20 lots, all sold @$2.45 TP.

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Pension
Elite

20-Sep-2007 16:06

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stx can make u bankrupt if you are not careful because the hi and lo gap is wide.

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nickyng
Supreme

20-Sep-2007 16:05

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rule of thumb for me no short or contra on same counter...unless the diff is BIG and thrilling enought :) STX? nah...not in my radar....

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winner80
Member

20-Sep-2007 15:43

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nickng,

u should try shorting STX PO instead, its steadily declining :p

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stockwhizz76
Member

20-Sep-2007 15:18

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maybe can try double up, price may fall later. more thrill then.

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limkt009
Veteran

20-Sep-2007 15:17

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Moving up very strong, reaching my Tp @2.45 soon.

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