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It's time for me to off load my spc bought at 2.94 about a month ago. Better take profit and wait for next entry. My personal view only. Not an inducement for buy or sell.
Since SPC is no more controlled by local, it is out of my focus . I lose confident to those foreign management. No transparent.
Kepcorp hands are full with its rig biz, and extra cash should be useful. IMO spc was wobbling a little last year, from new indian refineries - maybe a wise thing to cash out. Petrol China could have more use with SPC for its down stream integration. WIn-win for both Kepcorp and petrol china. Meanwhile spc shareholders should enjoy the price surge. Likely to see win-win-win situation tomorrow.
fruitty ( Date: 24-May-2009 22:43) Posted:
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Why sell? Isn't SPC business synergy to Keppel Corp's business?
Is Keppel Corp badly in need of money? To raise funds to set up a pig farm?
WOW...Keppel choose Sunday to sell SPC....see channel news asia report....
Keppel sells 45.5% stake in SPC to PetroChina for S$1.47b
SINGAPORE : Conglomerate Keppel Corp has sold its entire 45.5 per cent stake in Singapore Petroleum Company (SPC) to PetroChina for S$1.47 billion in cash.
The price translates to S$6.25 per share.
Need some rigs order from Petrobas to move it further. With oil prices firming orders should come soon. Any ideas when the orders usually come?
Keppel Corp Ltd
Maintain Buy;
long-term prospects remain healthy and intact
Please see our sector note dated 6 April 2009 for further industry details. Our
SOTP-based TP is S$9.40 (target multiple of 15x FY09E earnings for O&M; market
value for bulk of other components). Key risks: greater-than-expected US$
depreciation, unexpected cost increases, and contracts execution
Upgrading O&M new orders and SOTP modifications
We raised our 2009E-2011E new order assumptions from S$1.5bn, S$2.0bn, and
S$3.0bn to S$1.7bn, S$2.5bn, and S$3.7bn. Our target multiple for O&M has been
raised from 12x to 15x, which we believe is justified considering our expectation
of the resumption of new orders, KEP’s strong branding and positioning, and the
study of a more direct play SMM, which saw its PERs punching comfortably past
16x when new orders increased from about S$1bn in end-03 to S$2bn in end-04.
Deutsche Bank
read this report from DBS...wat a joke 4.41 fully value? and it is trading at 6.28 now ?!?! wat a huge diff? haha..a joke rite??
http://www.remisiers.org/research//kep040509fv%20DBSV.pdf
Another contract cancelled
• S$181m worth of contract was cancelled.
• Our earnings model already assumes S$1.1b
worth of total contracts that may be cancelled.
• No change to earnings estimates.
• Maintain FULLY VALUED. Fair value at S$4.41.
S$181m worth of order was cancelled. Keppel Corp
(KEP) announced that GSP Titan Ltd has terminated the
newbuild order for a multi-purpose heavylift/pipelay
vessel due to its inability to secure funding. As KEP has
already received sufficient cash receipts from GSP to
cover both the costs and expected loss of profit, we
believe that no write off of previously recognized profits
is required.
Three contracts cancelled since Jul 08. The
cancellation of the GSP contract brings total
cancellations to three for KEP, including one each from
Scorpion Offshore and MPU Offshore. The combined
cancelled amount is S$1.1b. Note that the contract
(worth S$69m) with Lewek Shipping is also in the final
phase of negotiation for eventual cancellation.
Order cancellation risk is reducing, but has not
disappeared. The cancelled GSP contract is in line with
our argument that while order cancellation risk is
expected to reduce going forward, it is premature to
argue that this risk has disappeared completely.
Maintain FULLY VALUED on KEP. We are keeping our
forecasts intact, as we have imputed order cancellations
of S$1.1bn, excluding the contracts that were cancelled
last year. Our fair value is adjusted to S$4.41; due to our
cut in Keppel Land’s fair value to S$2.08 pre-rights.
Maintain FULLY VALUED on KEP, as the implied FY10F
PE for its O&M is expensive at 18x, close to its peak
cycle PE for rig building.
auntie uncle usually buy 1 or 2 lots.
6.18 !??!! highest 6.26 today!?!?i really no EYE to see !! too OBSCENE !!! :D
i thk all uncles and aunties cheonging in now....looks like time to run ! :D
Its cheap credit driving up global markets. we'll see how long it last.
Haha......Forces of greed and hope at work......To those who have invested in this counter at much lower prices two months back, enjoy the ride up! Again, I cannot predict the next peak price of this counter, but I know these forces of greed and hope will continue to push the price to much higher grounds than what it is trading now. Mr Market is getting optimistic. To those invested, one can wait for Mr Market to become too optimistic before selling to him. Then, next time he will again get pessimistic and prices start collapsing through panic selling (when next bear arrives or stock market correction happens or any bad news temporarily hit the company).
wah! Mr Market is really amazing..hee...$6 now!! WOWOwwooWOOWwww !! despite all ODDS....this is really BULLshitting :D damn...missed the RUN ! :D
seems like SembCorp Marine is in a consolidation for now. Wonder where it will go?
http://skybach.wordpress.com/2009/05/03/sembcorp-marine-converging/
well...we shall see this coming week how this burger perform...haha as i said OBSCENE price even close at 5.98 ! wah kor! ...this cancellation although $180m ONLY ...i hope is not the tip of an ice berg...beside it counter part sembmar just announced one contract cancelled last wk as well...this coming week will be interesting...haha :P sideline and watch loh ! :D
Read BT on customer cancellation worth $181 million. It is running ahead of reality.
hmm... this burger at 5.95 now personally i think it has reached an OBSCENE price level....gee...wonder why all so bullish when many factors are still unknown or not that optimistic siah ! :D am i missing somethg?
dont think so...i think factor into share price liao...wow...5.84 now !! my eyes almost POP out ! :D
jumbos ( Date: 29-Apr-2009 16:17) Posted:
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Since Sembcorp cancelled the contract because of owner lack of money. will this happen in other project for both Sembcorp and Keppel
cheongwee ( Date: 29-Apr-2009 16:03) Posted:
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i think with flu around , there is no better place to take cover, other than the stock market,..the only place without flu...
That is why all want to rush into it now...