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keppel Corp

Keppel Corporation : Due for a rebound after falling all the way from $11.93. The contract win just

 

MEDIA RELEASE Keppel to build four more jackup rigs worth US$820 million for Mexican offshore market Singapore, 28 March 2013

 

Kepcorp , having fall to   11.22 now,   may bounce from here.

for more details , pse see my kepcorp chart ( click here) 

 

A very good counter for both long n short term..
Cheers!!

senecus      ( Date: 09-Mar-2013 19:28) Posted: Good counter to hold

 

Good counter to hold

 

Ya sold all at 11.71, 11.72.

Will buy bef xd if the price is attractive again.

 

Base on current chart pattern and resistance level, hitting $12 looks quite tough for KepCorp.

http://mystocksinvesting.com/singapore-stocks/keppel-corp/kepcorp-at-20-months-high/

 

chris168      ( Date: 25-Jan-2013 14:31) Posted: Dividend in specie. One free keppel reit  for every five keppel corp shares... correct me if i got it wrong. plus 27 cents dividend... I will keep unless it hit over $12.

 

Keep it up:)

chris168      ( Date: 25-Jan-2013 14:31) Posted: Dividend in specie. One free keppel reit  for every five keppel corp shares... correct me if i got it wrong. plus 27 cents dividend... I will keep unless it hit over $12.

 

 

Dividend in specie. One free keppel reit  for every five keppel corp shares... correct me if i got it wrong.

plus 27 cents dividend...

I will keep unless it hit over $12.

 

 

Kep corp margins are really squeezed.. will not advise to buy Kep corp becoz of this..

gd luck dyodd

Keppel Corp

Bumper payout year

 

Results within expectations, bumper payout. FY12 revenue came in 39% higher YoY at SGD14.0b while PATMI rose by 28% YoY to SGD1.91b after excluding revaluation gains and one-offs. Results were generally in line with expectations. Keppel proposed final dividend of 27 cts/sh, bringing full-year cash dividends to 45 cts/sh. In addition, it proposed dividend in specie of Keppel REIT units equivalent to 27.4 cts/sh. This brings total distribution to 72.4cts/sh, implying a yield of 6.4%. Maintain Buy with SOTP-based TP of SGD12.80.

O& M margins threading bottom. 4Q12 operating margin for O& M sector was flat at 12.8% (12.9% in 3Q12). We believe that margins are threading the bottom. Overall full-year margin came up to 13.5%, against our expectation of 14.0%. Despite conservative management guidance, we expect productivity and efficiency gains to contribute to higher operating margin of 14.2% in FY13F as Keppel O& M would deliver a record number of 22 newbuild units in the year.

Order win outlook remains rosy. O& M order win outlook remains positive with healthy pipeline of enquiries. Net orderbook currently stands at SGD12.8b. Our forecasted order win for FY13F stays at SGD5.4b, which we expect to come from a more balanced mixed of product types. The USD1.2b semisub contracts from Naftogaz are still under negotiation. Keppel does not rule out the possibility of walking away if final terms are unfavorable, demonstrating its discipline in taking on projects of a certain level of profitability. We infer that contracting environment must be strong, thereby allowing them to be selective.

Other segmental performances. Property segment’s exceptional performance this year is not expected to be repeated in FY13F. While still a small business segment, Infrastructure could see some improvement when the 800MW expansion of Keppel Merlimau Cogen Plant expansion goes into full operations in 2013.

Maintaining positive view. We maintain our Buy call on Keppel on strong O& M outlook with potential for margin to surprise on the upside in FY13F. Target price is maintained at SGD12.80. Keppel Corp – Summary Earnings Table
FYE Dec (SGD m)	2011		2012	2013F		2014F		2015F
Revenue	10,082.5		13,964.8	13,497.0		14,583.8		15,264.9
EBITDA	2,105.9		2,831.7	2,252.9		2,451.5		2,561.4
Net Profit	1,840.5		2,237.3	1,479.4		1,625.6		1,712.5
Basic EPS (S cts)	103.5		124.8	82.3		90.4		95.3
EPS Growth (%)	20.5		20.6	(34.0)		9.9		5.3
DPS (S cts)	43.0		45.0	44.0		44.0		44.0
PER (x)	11.0		9.1	13.8		12.5		11.9
EV/EBITDA (x)	11.2		8.3	10.4		9.6		9.2
Div Yield (%)	3.8		4.0	3.9		3.9		3.9
P/BV (x)	2.7		2.2	2.1		1.9		1.8
Net Gearing (%)	16.6		23.2	15.8		11.9		7.3
ROE (%)	26.7		26.9	15.5		15.9		15.6
ROA (%)	8.2		8.3	5.0		5.2		5.1
Consensus Net Profit (SGD m)		1,547			1,607		n.a.

 

Exxon , Chervon and Shell rally yesterday.. ..

A good sign for oil related ...  ...

 

Singapore, 27 December 2012 – Keppel Offshore & Marine Ltd’s (Keppel O& M) subsidiaries have secured three new contracts – worth a combined value of S$420 million – to bring the group’s total order wins for 2012 to S$9.9 billion.

  http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_96D99431D8DC9DF948257AE1003730C1/$file/20121227_PR_Final.pdf?openelement 

Will break $11.00 tomorrow?? 

 

Keppel Corp. Chief Executive Officer Choo Chiau Beng. Photographer: Munshi Ahmed/Bloomberg

Keppel Corp. (KEP), the world’s biggest oil-rig builder, may consider buying a yard in China as the nation boosts offshore drilling to meet rising energy demand.

Keppel, which already has one yard in China making parts for oil rigs, will seek out acquisitions if the government opens offshore projects by state-owned enterprises to foreign companies, Chief Executive Officer Choo Chiau Beng said in a Bloomberg Television interview yesterday in Singapore.

“If China is willing to open up its market to foreign- invested yards, for example, then of course we would be interested,” Choo said. “Right now, if a Chinese state-owned company wants to build a rig, they go to one of their own yards. In Brazil, we’re given the same chance as everybody else.”

Keppel is targeting emerging markets including China, West Africa and Mexico, as oil producers expand in new areas to offset waning reserves. The Singapore-based rig-builder, which operates yards in its home city as well as in the U.S., Qatar, Brazil and Indonesia, is seeking to move closer to its customers with new locations.

The possible expansion in China comes as the government encourages local shipyards to move into the offshore business. The country is targeting 20 percent of the global market for rigs, production facilities and other offshore products by 2015, according to the China Association of the National Shipbuilding Industry.

Offshore Threat

Chinese shipbuilders boosted output of offshore equipment 22 percent to 22.9 billion yuan ($3.7 billion) in the first 10 months, according to the shipbuilding group. New ship orders slumped 47 percent in the first 11 months to the least since 2003, according to Clarkson Plc, the world’s biggest shipbroker.

“Eventually, the Chinese yards will pose a threat to Keppel in the offshore business,” said Yeak Chee Keong, an analyst at Maybank Kim Eng Research Pte in Singapore, who rates Keppel a buy. “But in the short-term, customers will prefer established yards like Keppel because they know their orders will be delivered on time and on budget.”

Keppel won S$9 billion ($7.4 billion) worth of new orders this year through Nov. 26, helping increase its order book to S$12.2 billion. The company expects to deliver a record 21 rigs next year, exceeding its previous high of 14 in 2009.

The rig-maker has climbed 17 percent this year in Singapore, compared with 19 percent advances for the benchmark Straits Times Index (FSSTI) and its biggest rival, Sembcorp Marine Ltd. (SMM)

Picking Battles

Chinese shipyards Yangzijiang Shipbuilding Ltd. (YZJ) and Jinhai Heavy Industry Co. both announced their first offshore orders this month, helped by lower prices. Yangzijiang’s $170 million order for jack-up rig announced on Dec. 3 was lower than a similar order Keppel secured in April for $205 million. Lower prices are squeezing the profit margins of existing yards, including those operated by Keppel, Choo said.

“We must find new ways to compete, we must find battlefields that we can win,” Choo said. “We don’t compete with the giant in every area. There’s no need to. We can choose our battlefield.”

Keppel is building a second yard in Brazil as state-owned Petroleo Brasileiro SA (PETR4) develops the biggest oil discovery in the Americas in three decades off the country’s coast.

Keppel signed a $4.1 billion order in August to build five semi-submersible rigs for Sete Brasil Participacoes SA, an affiliate of Petrobras. It also received contracts worth $950 million to participate in building two floating oil production units for Petrobras.

The state oil producer is spending $236.5 billion as part of its five-year investment plan. The company has faced delays in carrying out exploration in the region and getting the rigs it needs to tap oil trapped under as much as 3,000 meters (9,800 feet) of salt and rocks below the Atlantic seabed.

“In Brazil, the Chinese yards can’t compete with us even though they’re cheaper in China,” Choo said. With Keppel’s rigs, “they can get delivery and go to work and earn money.”

To contact the reporter on this story: Kyunghee Park in Singapore at kpark3@bloomberg.net

To contact the editor responsible for this story: Neil Denslow at ndenslow@bloomberg.net

 

Bonus Issue (posted)

So relaxing outdoor..

 

This is my last post on " tour" in singapore shipyard...

Remember.

U have the SUN , SEA and SAND) , opportunity to learn " plus" 2 languages.... ....

So folks.. enjoy ur work and life in marine industry...

 

 

To substain a six languages nation is not easy.

Million of FT had fulfil their wishes and upgraded to

at a PR status in singapore...

Behind those scene ?? //

Can hop job, purchase HDB houses, went to malaysia, discounted medical bills and education fees.

What more .. ...

Can give up PR when earn enough depend on currency rate .... ...

 

 

Routine " TCSS" briefing ??

Pls don't mistaken for TCSS session such as this pic shown.

It serves its pupose for every responsible staffs on th routine, manner and sequence to perform an ops.

 

 

Well . Eversince Singapura has transformed into a six languages national.

Applause should be given to KEP.

WHY ? ???

Fresh grads from FT countries are given special briefing by their country mates.

I" M VERI THE IMPRESSIVE ON SUCH ARRANGEMENT

 

Mine " tour" continue ... ...

In the pipe shop.

Group of " expertise" examining and given their valuable comments

on the carbonate steel pipe.

 

Keppel O& M Marks 10 Years of Excellence with Strong Orderbook of S$12 billion

Company celebrates Anniversary at Gardens by the Bay, with Deputy Prime Minister and Minister for Finance Mr Tharman Shanmugaratnam as Guest-of-Honour


Singapore, 26 November 2012


– Keppel Offshore & Marine Ltd (Keppel O& M), a wholly-owned subsidiary of Keppel Corporation Limited, celebrated its 10th Anniversary in 2012 with a strong net orderbook of S$12.2 billion, including S$9 billion worth of new contracts secured year-to-date.

Mr Tharman Shanmugaratnam, Deputy Prime Minister and Minister for Finance of Singapore, was the Guest-of-Honour at the Anniversary event held at Gardens by the Bay, to commemorate Keppel O& M’s achievements over the last 10 years.

Keppel O& M was formed in 2002 by integrating three established offshore and marine companies, Keppel FELS, Keppel Shipyard and Keppel Singmarine, which have a combined heritage of over 300 years.

Strong Results



Since 2002, the collective strength of Keppel O& M has delivered strong results. Revenue

1 grew three-fold from S$1.9 billion in 2002 to over S$5.7 billion in 2011. For the first nine months of 2012, Keppel O& M has achieved over S$6.2 billion in revenue. Economic Value Added also reached S$992 million in 2011, from S$20.2 million in 2002. These achievements were generated by a global workforce of over 30,000, a significant increase from around 14,000 in 2002.

1 Please refer to Annex for 10-Year Revenue Growth Chart


Mr Choo Chiau Beng, Chief Executive Officer of Keppel Corporation and Chairman of Keppel O& M said, " The past 10 years have proven that this integration strategy is right for us. By eliminating duplication and internal competition, streamlining our operations as well as harnessing synergies and combined strengths, we have maximised value for not only ourselves, but also our customers and business partners. In the process, we have grown from strength to strength." 2


Robust Track Record




Mr Tong Chong Heong, Chief Executive Officer of Keppel O& M, said, " Our robust track record over the past decade reflects our strong capabilities. Today, our network of 20 yards globally supports our
Near Market Near Customer strategy, and enables us to meet increasing demand for local content. For example, in the Gulf of Mexico, our yard in Brownville, Texas, is working on several projects for Mexican customers, while in Kazakhstan, we are building the country’s first jackup rig. Over in Brazil, we are constructing six DSSTM38E semisubmersible (semi) drilling rigs for Sete Brasil, as well as undertaking the fabrication and integration works for four Floating Production Storage and Offloading (FPSO) units."

Other current projects of BrasFELS, Keppel O& M’s yard in Angra dos Reis, Brazil, include the P-61 Tension Leg Wellhead Platform (TLWP) for the Papa-Terra field in Brazil's Campos Basin, and the upgrading of a drillship for Noble Corporation. The yard recently garnered bonuses totalling US$2 million for delivering FPSO Cidade de Sao Paulo safely, early and to high customer satisfaction.

Reflecting the market’s strong acceptance of its solutions, Keppel O& M has built 50% of the jackup rigs and one-third of the semisubmersible rigs to enter the global market since 2000. In 2013, Keppel FELS expects to deliver a new record of some 20 rigs, exceeding its previous record of 13 rigs in 2009.

In the marine business, Keppel Shipyard has so far delivered 105 offshore conversion and upgrading projects, while Keppel Singmarine has to-date completed some 400 specialised newbuild ships including offshore support vessels and specialised units.

Mr Tong added, " Our proprietary designs are gaining wide market acceptance. Since 2002, Keppel O& M has delivered 35 KFELS B Class jackups, 3 KFELS N Class jackups and 16 semis built to our proprietary designs. Since 4Q2010, Keppel O& M has secured a total of 39 newbuild rig orders, and out of these, 34 are for Keppel designed jackups and semis. We will continue to leverage our execution and design capabilities built up over the years to sustain our market leadership."


Sustaining Technology Leadership




With the recently established Technology Division, Keppel O& M aims to further strengthen its technological expertise, as well as improve on its operational processes to remain competitive in the industry.

Keppel Offshore & Marine Technology Centre (KOMtech), the Group’s main R& D unit with over 60 research engineers, has filed more than 23 patents since inception in 2007. The Centre is in the process of extending its research overseas, and has established KOMtech (Europe) in 2010. It will be setting up KOMtech (Brazil) to tap resources and 3

expertise from CENPES, the R& D Centre of Petrobras, as well as from universities in Brazil.

To meet the rising demand for more complex engineering solutions due to offshore oil and gas developments moving into deeper waters and harsher environments, KOMtech and Keppel O& M’s Deepwater Technology Group are developing new designs for the industry. These include the DSS
TM51E semi suited for the severe environment of the Gulf of Mexico, and the DSSTM60HE semi for the North Sea region. Other designs under development include the Extendable Semisubmersible, Deep Draft Semisubmersible, Tension Leg Platform TLP2200 and Slim Drillship.

KOMtech, in partnership with ConocoPhillips, is also designing a first-of-its-kind, ice-worthy jackup rig for one of the harshest marine frontiers, the Arctic Seas. The rig will be capable of operating in a self-sustaining basis for 14 days and is equipped with a hull designed for towing in ice.

" Looking ahead, we will continue to adopt strategies which strengthen and deepen our core competencies, to stay ahead in the market. In meeting the growing energy demand, the drive to develop fields in deeper waters and harsher environments will present extreme challenges. However, I am confident that through good teamwork by our people with our customers and service providers, and our innovativeness and Can-Do! spirit, we will be able to provide the required solutions for the global energy industry," commented Mr Choo.

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