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Hi tonylim,
Do you know when a project form Jurong Island starts, what are the sequence of events. When will contract flow to the subcontractors like PEC, Hiap Seng and Rotary? Not sure the following sequence is correct. Any missing event? Thanks.
1) Feasibility study of the project
2) Funding
3) Call for tender
4) Select and award to main contractor
5) Main contractor award to sub contractors
I understand PEC don't announce small contract deals. This 2 deals start in Jurong Island but so far PEC, Hiap Seng and Rotary Engr have not announce any contract win from the main contractor.
Tuas Power have started $2 billion project (2 phases) in Jurong Island
http://www.tuaspower.com.sg/uploaded_files/HRG_02122009115233_69783_02122009115522.pdf
SRC has started US$300 - 400 million project as reported in 6 Jan 2010. Piles have also been sunk for a new administration building and warehouse, expected to cost more than S$50 million, at the Jurong Island refinery.
http://breaking.sg/story.php?title=src-restarts-green-fuel-project-as-oil-prices-climb
Recently there are many projects resume in Jurong Island. This may further boost their book order.
tonylim ( Date: 13-Jan-2010 13:25) Posted:
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gempicker ( Date: 13-Jan-2010 13:01) Posted:
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PEC book order was S$150m on 31 Aug 2009, $170m on 31 Oct 2009. With this new contract, according to DBS research, the analyst estimate the book order around S$365m. This book order does not include maintenance services. Maintenance revenue in Y2009 is S$106.8m base on the 2009 annual report.
According to IPO prospectus (Page 108):
Given the nature of our maintenance services contracts where we receive specific work orders from time
to time during the duration of such contracts, we are unable to ascertain the size of the order book for
this business segment.
Hi snoopy80 ,
Yes... The only hope now 4 PEC's Q4 results.
U muz always rmbr, when u hv missed e train. Dun chase it. Wait 4 another train... Buy shares need 2 c weather (http://www.liveindices.com/). STI climbed Tue-Wed & Thu dropped. Cnt b everytime up rite? Y experts always said "do ur own hm work"? When a Counter's not moving 4 a long time. Set as ur watch list. Monitor closely especially mkt rally tis time round's in rotational play. Look @ their Interactive Chart. A Counter cnt b climb more dan 3 - 4 days. The 4th / 5th day'll b correction. When hving correction, u dun buy too cos u might e 1 hv bot e dwn trend stocks. & too Smart BBs like 2 kill all those Ctr Players... I'm still learning too actually...
U might ask me y I din buy PEC... When my friend asked me 2 buy PEC @ 0.62 during Nov09. I din... So once I missed, I wun buy liao. U might say "dan u can 4ever dun buy shares liao lor"... I'm not dun buy, & I'm waiting 2 sell now.
When Genting SP @ 1.08 dat time, I hv hint & posted "BBs need 2 cater sm funds 4 Genting SP" @ Sinotel's Forum. & I myself din buy too... So do I still chase? But I din... Even Epure Int too. Once chased, u'll nvr noe wat'll happen nxt liao... When Governmt said Econ's picking up during dat time u buy shares... & u r safe. When u heard alot of news said Econ oredi hv fully recovered... U muz sell all ur shares liao... ('',)
snoopy80 ( Date: 07-Jan-2010 22:53) Posted:
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Bon3260,
But how do we determine when is the good enter point,
cause there's good news annouce already, like the genting sp, i remember that time when it's during 1.06-1.08
my friend plan to get it when the price go down again , but after that the price is alwiz hiking,
mean next entry point will be more higher already. but from the financial report, PEC is stil good in profit.
if getting all the contract, i guess 2010 finacial result will be better. Anyway, i am newbie in investing share, still more i got to learn.
Based on the steady revenue and profitability growth trend, and with a healthy EPS (about $0.10 per share if profitability remains), should be a good counter to hold on to ride with the economy recovery for capital gain [probably dividends too] :)
tonylim ( Date: 07-Jan-2010 21:09) Posted:
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U shdn't hv chased when a Counter's climbing...
snoopy80 ( Date: 07-Jan-2010 15:30) Posted:
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snoopy80 ( Date: 07-Jan-2010 15:30) Posted:
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You are correct, omg..watch this counter few mths already...nvr take action when its still low price
after that more good news coming in, before 1 week new yr price start to surge
yesterday watch the price climb to 0.77, but near to the market close
its climb to 0.78, start q to get but too late...:(
get this counter at 0.81 at this morning, hope this counter can up up up...
good luck to all...
Bon3260 ( Date: 06-Jan-2010 23:05) Posted:
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I dun hv PEC on hand... : (
But, PEC Cheong Ah!!!
('',)
Tmr, PEC'll 0.8+ once Mkt open...
Cheong Ah!!!
Msg 4 new babies,
"Tis aftnoon ard 4pm I saw PEC's moving v v fast. I was wanted 2 buy @ 0.77 during dat time but I din b'cos I saw PEC oredi climbed +0.25 when 0.77. So I juz watched & c how high it can climb. But when PEC reached 0.79 @ Buy Q. Sell Q there suddenly hv more dan 2k+ lots queuing 2 sell. It was v obvious dat sm BBs r setting fake Q 2 block PEC hit 0.795. So pple started 2 throw hurriedly & finally last @ 0.785. BBs blocking cos they 1 2 accumulate 4 tmr. Cos I belief tmr PEC'll cheong again. News only annonced dat PEC rec'd new ctts on 06-Jan-2010 (17:28:35). Muz b sm pple oredi noe e news, & dat was y PEC climbed..."
PEC GROUP AWARDED US$174.5 MILLION OIL
TERMINAL PROJECT WORKS IN MALAYSIA
Singapore, 6 January 2010 – PEC Ltd.
companies and joint venture company, the “Group”), a homegrown plant and terminal
engineering specialist which provides project works and maintenance services to the oil and
gas, petrochemical, oil and chemical terminal and pharmaceutical industries in Asia and the
Middle East, announced that PEC’s subsidiary, Audex Pte Ltd had signed a contract worth
US$174.5 million (or approximately S$245 million) with ATT Tanjung Bin Sdn Bhd (“ATB”), to
provide EPC works for an 841,000 cubic metre oil terminal for the storage of fuel oil, middle
distillates and light distillates. The oil terminal is located at Tanjung Bin within the Iskandar
Development Region (Johor, Malaysia). The EPC works are expected to be completed by
March 2012.
ATB is 100% owned by Asia Tank Terminal Limited (“ATTL”), a joint venture company between
Vitol Tank Terminals International B.V. (part of the Vitol Group) and MISC Berhad (maritime
transportation and logistics provider). ATB will undertake the design, construction and operation
of the oil terminal.
Commenting on the new project, Mr Robert Dompeling, Group Chief Executive Officer of PEC
said, “This win is an important and significant milestone for PEC Group. The project in Tanjung
Bin will strengthen our excellent track record in EPC works for major terminal projects and will
open up further opportunities for us in the oil and gas sector. Going forward, we will continue to
pursue new business opportunities in Asia, the Middle East and other locations to leverage on
the opportunities in the oil and gas, petrochemical, oil and chemical terminal, as well as
pharmaceutical industries.”
Barring any unforeseen circumstances, the Company expects a positive contribution to its
earnings and financial performance for the financial year ending 30 June 2010 from this
contract.
(“PEC”, and together with its subsidiaries, associated2
-End-
About PEC Ltd.
Founded in 1982 and headquartered in Singapore, PEC is a plant and terminal engineering specialist
which provides project works and maintenance services to the oil and gas, petrochemical, oil and
chemical terminal and pharmaceutical industries in Asia and the Middle East.
The Group’s project works are currently being carried out mainly in Singapore, Malaysia, Thailand,
Indonesia, Vietnam, the PRC and the Middle East while its maintenance services are currently being
carried out in Singapore and the PRC. PEC has fabrication facilities in Singapore, Malaysia, Indonesia,
Thailand and the PRC.
PEC was listed on the Main Board of the SGX-ST on 7 August 2009. In the SIAS Investors’ Choice
Awards 2009, PEC won the “Most Transparent Company Award 2009” in the New Issue Category.
Issued for and on behalf of PEC Ltd.
Media Contact
Weber Shandwick Worldwide
Gerry Wong
Tel: +65 6825 8069, Mobile: +65 9247 4963,
Email: gerry.wong@webershandwick.com
Sabrina Chua
Tel: +65 6825 8010, Mobile: +65 9669 5590,
Email: sabrina.chua@webershandwick.com
The initial public offering of the Company was sponsored by DBS Bank Ltd (the ‘Issue Manager’). The
Issue Manager assumes no responsibility for the contents of this announcement.
Wow!!!
Bon3260 ( Date: 29-Dec-2009 08:36) Posted:
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FIRST QUARTER FINANCIAL STATEMENTS AND DIVIDEND ANNOUNCEMENT FOR THE
PERIOD ENDED 30 SEPTEMBER 2009
PEC LTD reported a -4% in revenue to $106.9 S$million (Q on Q revenue of $111.2 S$million)
and +19% in net profit to $7.3 S$million (Q on Q net profit of $6.2 S$million)
http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_E6B66C7EB8BCBFC54825766A000EB84F/$file/1st_Quarter_FS_10Nov09.pdf?openelement
A commentary at the date of the announcement of the significant trends and competitive
conditions of the industry in which the Group operates and any known factors or events
that may affect the Group in the next reporting period and the next 12 months.
As at 31 October 2009, The Group’s order book for on-going and new project works was
approximately S$ 170.0 million. A substantial part of these on-going and new project works are
expected to be completed and recognised as revenue in FY2010.
The outlook for FY2010 continues to be challenging, as the industry had experienced some
deferment of project investments in FY2009 due to the economic slowdown. However, the Group
has not experienced any cancellation or postponement of its existing contracts and with the gradual
recovery in the global economy, the Group has in fact been receiving enquiries from existing and
potential new customers. With a combination of a strong balance sheet and a proven business
model, the Group is in a good position to leverage on these opportunities as and when they
materialize.
tonylim ( Date: 26-Nov-2009 16:03) Posted:
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