Post Reply
1-20 of 689
Singapore's competition watchdog, having completed phase 1 of its review of SATS' proposed acquisition of Singapore Cruise Centre, on Friday said it " is unable to conclude that the proposed acquisition would not raise competition concerns, based on information furnished during the phase 1 review."
The Competition Commission of Singapore added that the merger will proceed to phase 2 of the review after it receives necessary documentation from SATS. Phase 2 can take up to 24 weeks.
" Phase 2 of the review entails a more detailed and extensive examination of the merger and at the end of the period, CCS will decide whether to issue a favourable or unfavourable decision," it said.
This comes a month after the two parties voluntarily asked CCS if such an acquisition would contravene the Competition Act.
X Dividend on 19 November 2013
I personal opinion is below 3 will be a safer buy for mid or long term.
any one have any comment on this share?
Any issue with this stock?
I am waiting it to going down, but seems going down too fast for me.
UOB Kay Hian maintains Hold with $3.32 TP. House met with SATS to discuss its medium- and long-term prospects. House is enthused by a potential cargo handling JV in Oman, likely revenue accretion from a catering business at the Sports Hub as well as strong pax throughput at Changi. Pax throughput at Changi has been stronger than expected and this should translate into higher revenue. Meanwhile, a potential cargo JV in Oman will allow it to diversify to an important Middle Eastern gateway. Overall, house maintain HOLD but raise TP by 6% to $3.32. Suggested entry price is $3.15.
OCBC maintains Hold with $3.35 TP. House note that SATS will acquire Singapore Cruise Centre (SCC) from Temasek for $110m. This acquisition will complement SATS's existing cruise services at the Marina Bay Cruise Centre, and give it control of the ferry terminals at Tanah Merah, Pasir Panjang, and HabourFront Centre, which has an anchor client in the form of the popular Star Cruises. House view the deal favourably as it is cash generative (SCC had revenue of S$45m and PBT of S$16.7m in FY13), should enhance SAT?s FY14F EPS by at least 5%, and will provide growth opportunities for its gateway and food solution businesses.
Singapore airport services and catering firm SATS Ltd said on Friday that it has signed an agreement with Oman Air and Oman Airport Management Company to explore a possible joint venture to develop and operate cargo facilities in the Gulf state. SATS said the venture was still subject to further evaluation and due diligence. The company's announcement to the stock exchange followed a report in an Oman newspaper that a full agreement had already been signed. - Reuters
SATS To Acquire Singapore Cruise Centre For S$110 Million.
Fits well with the existing gateway services business of SATS. Adds a profitable and strong cash-generative unit to the Group. Enhances passenger connectivity between Changi Airport and Singapore Cruise Centre with SATS' unique presence at both gateways. Improves Singapore's attractiveness as a regional homeport for cruise lines...
Attachments:
Announcement Title * INCREASE IN ISSUED AND PAID-UP SHARE CAPITAL OF FASSCO INTERNATIONAL (INDIA) PRIVATE LIMITED
Description SATS Ltd. (the Company) wishes to announce that its indirect subsidiary, FASSCO
International (India) Private Limited (FASSCO India) has increased its issued and paid-up share capital from INR4,423,000 to INR13,000,000 by way of an allotment and issuance of 857,700 new ordinary shares at INR10 per share (the New Shares) for a cash consideration of INR8,577,000 (approximately S$172,000).
Following the allotment of the New Shares, the shareholders of FASSCO India, Food And Allied Support Services Corporation Pte. Ltd. (FASSCO) and FASSCO International (Australia) Pty Ltd (FASSCO Australia), will continue to hold approximately 99% and 1% equity in FASSCO India respectively. FASSCO Australia is a wholly owned subsidiary of FASSCO.
The Company, through its wholly owned subsidiary, SATS Investments Pte. Ltd., will continue to hold a 51% equity stake in FASSCO.
The above transactions will be funded from internal cashflow and are not expected to have any material financial impact on the Companys net tangible assets and consolidated earnings per share for the current financial year.
None of the Directors, substantial shareholders or controlling shareholders of the Company has any interest, direct or indirect, in the above transactions, other than through their respective interests (if any) in the Company.
Description SATS Ltd. (the Company) wishes to announce that its indirect subsidiary, FASSCO
International (India) Private Limited (FASSCO India) has increased its issued and paid-up share capital from INR4,423,000 to INR13,000,000 by way of an allotment and issuance of 857,700 new ordinary shares at INR10 per share (the New Shares) for a cash consideration of INR8,577,000 (approximately S$172,000).
Following the allotment of the New Shares, the shareholders of FASSCO India, Food And Allied Support Services Corporation Pte. Ltd. (FASSCO) and FASSCO International (Australia) Pty Ltd (FASSCO Australia), will continue to hold approximately 99% and 1% equity in FASSCO India respectively. FASSCO Australia is a wholly owned subsidiary of FASSCO.
The Company, through its wholly owned subsidiary, SATS Investments Pte. Ltd., will continue to hold a 51% equity stake in FASSCO.
The above transactions will be funded from internal cashflow and are not expected to have any material financial impact on the Companys net tangible assets and consolidated earnings per share for the current financial year.
None of the Directors, substantial shareholders or controlling shareholders of the Company has any interest, direct or indirect, in the above transactions, other than through their respective interests (if any) in the Company.
almost forgotten, the dvd is in already 16 aug
Dividends coming next week!!!
$$$$$$$$$$$$$$$$$$$$$$$$$
UNAUDITED RESULTS FOR FIRST QUARTER ENDED 30 JUNE 2013
http://infopub.sgx.com/FileOpen/SGX_1QFY1314.ashx?App=Announcement& FileID=249227
UOBK maintains at Hold, but lowers TP from $3.40 to $3.13. Tips potential entry price at $2.90. Notes cost pressures remain the key challenge, in view of high staff costs (46% of total costs) arising from govt levies and a tight labor market. Yet the ability to pass on the cost increases could be limited, as pricing is negotiated with airlines annually. Meanwhile, a slowdown in Changi Airport traffic leads UOBK to lower its pax and cargo traffic assumptions.
SATS: Announced that it will sell its 40% equity interest in its Adel Abuljadayel Flight Catering Company joint venture for a cash consideration of US$18.4m (~S$23.4m), which is slightly below the book value of the asset as of 31 Mar (S$24.1m). Despite the short two-year tenure of the JV, the exit does not signal a change in management intent regarding the region. Management still intends to re-enter the Middle East, and will continue to pursue other attractive investment opportunities. In the interim, the outlook for SATS remains positive and we believe the counter’s earnings stability and healthy dividends will allow it to stay resilient amidst recent market volatility. OCBC maintains HOLD with an unchanged fair value of $3.15
New Sports Hub ready by April 2014......
SATS proposed disposal of 40% stake in Adel Abuljadayel Flight Catering Co (AAFC) for US$18.4m (~$23.4m) cash. This compares with the Mar ‘13 book value and NTA of the sale shares of $24.1m and $4.8m respectively. The transaction is not expected to have any material impact on the NTA/sh and EPS for the current financial year. SATS has reviewed its invmt in AAFC and believes the proposed transaction is in its interests as it continues to pursue other attractive invmt opportunities in the Middle East region. The co remains focused on leveraging its core competencies in gateway and food to access suitable opportunities and grow its presence in this mkt. According to latest data from Changi, passenger traffic in May rose 4.7% yoy to 4.28m. This represents a recovery from Apr’s muted 0.8% increase (partly boosted by the Good Friday holiday this year). Pax growth was supported by firm intra-Asia traffic demand, with Japan, Msia, Thailand registering double digit increases. Deutsche expects traffic to pick up further in Jun, reflecting the school holidays. Also notes 2H tends to be seasonally stronger for SATS. Hence while SATS may have had a fairly subdued start to its FYMar14, the house maintains its view of a 7% increase in pax handled for the full year. Reiterates Buy with TP $3.54, supported by dividend yield of up to 8% pa over 5 yrs (under a blue skies scenario of no M& A and gradual increase in gearing).
many counters having a good decent run this couple of days. Except SATS. In fact it has been on the downside. Any reason why? Will SATS have a run up soon? Vested....
Octavia ( Date: 23-May-2013 21:10) Posted:
|
This one is good, institutional interest is obvious.
Maybank Kim Eng upgrades to BUY with TP of SGD3.90/shr.
http://www.remisiers.org/cms_images/research/May20-May24_2013/SATS_230513_4325.pdf