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Sembmarine
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tglim74
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11-May-2012 14:18
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Exit at 4.53, better cut loss and stay clear. |
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GuavaXF30
Master |
11-May-2012 13:46
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Alamak. Now Oil-riggers turn to kenna whack. Lucky not as bad as commodity companies though. Poor Wilmar....
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ozone2002
Supreme |
11-May-2012 12:00
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price weakening ..now 4.56 time to scoop up some.. dyodd gd luck! |
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krisluke
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10-May-2012 21:53
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SMM: weak 1Q12 results, below expectations. Net profit was $113m, -25% yoy. This was largely due to the surprisingly weak 12.8% Operating margin (OPM) in 1Q12 vs 20% in 1Q11, due to timing, value and initial lower margin from new design rigs. While a decline in margins was generally anticipated by the Street due to the lower priced contracts secured in FY10/11, the magnitude of decline was more than expected. Nevertheless, mgt sticks to its guidance of 15% FY12e OPM. YTD contract wins are $3b, with net order book of $7.4b and visibility until 2Q15. Mgt still seeing strong all-round new order enquiries, esp for deepwater rigs. Aims at $5-6b ex-Petrobras orders. On Petrobras, it notes that negotiations are at an advanced stage, with the finer details yet to be ironed out. Seeing some downward revision in TP by the Street, though ratings remain bullish. BOA-ML keeps at Buy with TP $6.01 from $6.15. Deutsche keeps at Buy, but lowers TP to $5.55 from $5.80. UOBK keeps at Buy, lowers TP to $5.80 from $6.10. | ||||||
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sgnewbie
Master |
10-May-2012 15:53
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http://sgxreports.blogspot.com/2012/05/sembcorp-marine_10.html | ||||||
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GuavaXF30
Master |
10-May-2012 14:55
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Sorry, perhaps I used wrong term. If long is trading buy than I bought too. Thought they were the same.
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Sgshares
Elite |
10-May-2012 13:42
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can look for long / short cover ard $4.50 | ||||||
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rotijai
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10-May-2012 12:04
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i don wanna encourage ppl to long or short.. depends on how u look at it.. i didnt long.. i bought.. LOL anyway i think the sell down might continue.. not looking good for longs sure i am not tat worry..
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GuavaXF30
Master |
10-May-2012 11:57
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Opps, sorry did not see Rotijai's earlier posting. Looks like you longed too. Let's not worry then and shut comp down and go play golf.... Look at it again next week.
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GuavaXF30
Master |
10-May-2012 11:45
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Sure there is no such thing as 100%. Obviously you have shorted this and I have longed. But for me, everything is about how  I feel is correct valuation. I bought with my own cash. I don't have to rely on market sentiments. For short-traders, time is obviously extremely important. For all I know, you may very well be a winner here. But I am prepared to hold. With blue chips, you can't go round with this strategy. Gd luck.   
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rotijai
Supreme |
10-May-2012 11:41
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if bottom not bottom enough just keep in fridge.. luckily my fridge is empty recently.. got space for it :D
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ozone2002
Supreme |
10-May-2012 11:38
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can't get at the lowest or bottom.. but u know u are getting it near bottom that's good enough.. don't have to be so kiasu la.. :) no problem..sometimes market players get caught up by the excitement or fear that they throw out fundamentals altogether.. i'm just here to keep everyone cool headed so they can think clearly :) gd luck dyodd.. :) |
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rotijai
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10-May-2012 11:03
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not out of the woods yet.. there's no need to say right or wrong :)
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GuavaXF30
Master |
10-May-2012 11:01
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Congrats to those who bought in this morning. Good sense is now prevailing. Thanks Ozone for helping to point the fundamentals of Semb Marine out. I was not wrong early yesterday when I said it may fall further, but I was  also not wrong to say that 4.8 was okay value. It's all about timing. But admittedly, could have seen better profit if I had waited for the selling this morning to take place before committing. Hey, can't win all the time, right ?
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rotijai
Supreme |
10-May-2012 10:37
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master ozone.. i dont think it's necessary to post this... $6? may be.. if sti hits 3200-3300 again
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ozone2002
Supreme |
10-May-2012 10:32
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Sembcorp Marine Still on Track Lower due to timing issues. profit dipped by 26% YoY and 37% QoQ to SGD113.1m, coming in lower than our expectations. However, the variance was mainly due to timing of revenue recognition and lower initial margins from new design jack-up rigs, which does not represent underperformance. We are keeping our full-year forecasts largely intact and expect stronger quarters ahead. Maintain BUY and target price of SGD6.20. Sembcorp Marine’s (SMM) 1Q12 netNormalising margins. this quarter. Other than the normalisation of margins as high-value contracts are depleted, the other factor was the initial lower margins for new design rigs. As the year progresses, Management expects margins to improve with revenue recognition from more rig units. SMM believes that overall operating margins should come in at about 15% for the year, which is consistent with our forecast. Operating margins fell by 3.2ppts YoY to 12.8%Strong orderbook. stretching up till 2Q15. SMM has secured about SGD3.0b of new contacts YTD and we are forecasting a total of SGD11.5b in new contract wins for FY12. SMM is still in negotiations with regard to the terms of Petrobras-related contracts which we estimate to be worth SGD5.0b. Nevertheless, we believe it is a matter of time before SMM secures the contracts. Net orderbook stood at SGD7.4b with deliveriesOptimistic outlook ahead. outlook and order guidance. Sturdy market fundamentals in the offshore sector have kept enquiry pipelines at a healthy level and potential orders are expected to come from across all sectors. This has reinforced our confidence in our order win assumptions. There also appears to be no problems with banks extending financing to SMM’s customers. We sense strong optimism in SMM’sRemain positive, order wins to drive share price. positive on SMM and expect order win momentum to be the key catalyst to drive share price higher. Our target price is maintained at SGD6.20 based on our SOTP-based valuation. Maintain BUY. We remainSembcorp Marine – Summary Earnings Table FYE Dec (SGD m) 2010 2011 2012F 2013F 2014F Revenue 4,554.9 3,960.2 4,730.7 5,406.5 7,483.5 EBITDA 1,025.8 823.4 841.2 957.7 1,233.0 Recurring Net Profit 860.3 751.9 693.6 758.3 971.8 Recurring Basic EPS (SGD cts) 41.8 36.6 33.7 36.9 47.3 EPS Growth (%) 22.9 (12.6) (7.7) 9.3 28.2 DPS (SGD cts) 36.0 25.0 23.0 23.0 23.0 PER (x) 11.4 13.1 14.2 13.0 10.1 EV/EBITDA (x) 8.5 10.9 10.9 9.9 7.6 Div Yield (%) 7.5 5.2 4.8 4.8 4.8 P/BV(x) 3.8 4.1 3.8 3.4 2.9 Net debt/(cash) (SGD m) (2,907) (1,955) (1,610) (1,384) (2,414) ROE (%) 38.4 30.0 27.7 27.7 31.0 ROA (%) 17.3 14.6 12.9 12.6 13.3 Consensus Net Profit (SGD m) 686.2 751.0 811.8
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rotijai
Supreme |
10-May-2012 10:02
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personally i think > 5 is expensive 4-5 is a " anything can happen range" < 4 is a good investment for long term i just bought recently
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GuavaXF30
Master |
10-May-2012 09:46
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Still a strong buy. See below latest recommendation. One of many with same views.  
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ozone2002
Supreme |
10-May-2012 09:13
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went as low as 4.53 managed to scoop up some..to average down.. buying up to 10 lots..i don't buy at one shot.. so in a way i average down.. very good value with the fat order books it has.. gd luck dyodd
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sgnewbie
Master |
10-May-2012 09:06
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http://sgxreports.blogspot.com/2012/05/sembcorp-marine_09.html | ||||||
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