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any idea what will happen to the hedging losses of 200m++???
so if I am holding some labroy share, what should I do with it? Will Dubai buy over all my share automatically at $2.8425? Or am I expected to sell it in the open market?
First time kena this kind of buy over. So abit lost. Hope someone can advise.
Bengkuang is 38% own by Labroy..see also thinly traded..4 Buy 5 sell...once pushed..will soar buy where there is fear as this stock recovers superfast during recent correction..now cross 90cts shd be safe...drop to 81cts and recover to 87cts the next day during Oct 19 sell down..BengKuang is a better substitute now than Labroy as it always been profitable
Same fate as PanU Marine, I guess. First PanU, now Lebroy. What's next? Courage? Samudera? All the small players slowly get eaten up one after the other.
oh dear, 2.84 only? so what does it mean? Labroy going to be delisted from SGX ?
or start trading tomorrow again or what?
Think the offer price is abit low, as compared to it potential.....
Takeover at S$2.84 by Dubai Drydocks World.
see the rise in sh price of its Subsidiary bengKuang to 90.5cts will tell U likley gd news for labroy
probably the rumour of take over is true????
What's up ?!?! Why on HOLD ? Good news brewing ?!
SINGAPORE, Oct 25, 2007 (Thomson Financial via COMTEX) -- LBYNF | charts | news | PowerRating -- Shares of Labroy Marine Ltd were higher Thursday on speculation that Dubai Drydocks World is eyeing the Singapore shipyard operator.
At 9.50 am, Labroy was up 7 cents or 2.7 percent at 2.68 Singapore dollars with 3.5 million shares traded.
Dubai Drydocks recently acquired Pan United Marine, which builds offshore support vessels for the oil and gas industry, and it makes sense for the Middle East-based company to buy another player in the offshore vessel chartering business, the Business Times newspaper said in a column.
Labroy founder and chairman Tan Boy Tee, who owns 58 percent of the company, has said in the past that he is open to selling his controlling interest at the right price, the newspaper said.
Even before Dubai Drydocks' takeover of Pan United Marine, Jaya Holdings, which also provides offshore support vessels to the oil and gas industry, has changed hands twice in the last three years.
The controlling interest in Jaya was first acquired by Malaysian conglomerate Sime Darby, which later sold the stake to private equity firm Affinity Capital.
At 9.50 am, Labroy was up 7 cents or 2.7 percent at 2.68 Singapore dollars with 3.5 million shares traded.
Dubai Drydocks recently acquired Pan United Marine, which builds offshore support vessels for the oil and gas industry, and it makes sense for the Middle East-based company to buy another player in the offshore vessel chartering business, the Business Times newspaper said in a column.
Labroy founder and chairman Tan Boy Tee, who owns 58 percent of the company, has said in the past that he is open to selling his controlling interest at the right price, the newspaper said.
Even before Dubai Drydocks' takeover of Pan United Marine, Jaya Holdings, which also provides offshore support vessels to the oil and gas industry, has changed hands twice in the last three years.
The controlling interest in Jaya was first acquired by Malaysian conglomerate Sime Darby, which later sold the stake to private equity firm Affinity Capital.
Labroy Marine rose, driven by speculation that the company may be a takeover target, dealers said.
The Business Times said on Thu that the market is betting on Dubai Drydocks World to buy Labroy, which provides an attractive play on high oil prices. Government-owned Dubai Drydocks World in May said it would buy a 70% stake in Pan-United Marine in a deal which values the firm at US$424 million.
Just amaze that these analyst reports are so influential! Especially those from m/stanley, goldman sachs, merill lynch...etc...
Anyway, at least the share cheong today and it will continue to do so.....PER still less than 20!!
vested. but at this point, i still prefer sci as a slow stable alternative to be exposed to marine sector.
PE ratio indeed very low compared to its earning growth. Still vested.
looks like the big boys have done it again..
thank you morgan stanley.. n bnp for upgrading the stock..
>$3..coming soon baby... hang on tight
BNP Paribas Securities
Labroy?s multirevenue model, coupling recurring charter revenue with strong demand for rig-building products, is a resilient earnings base. Current prices seem to write off Labroy?s rig-building prospects unfairly. We maintain a BUY rating on Labroy, with a target price of SGD3.20, implying 32.8% upside on a 2006-09 earnings CAGR of 36%.
SINGAPORE, Oct 11 (Reuters) - Shares of shipbuilder and oil-rig maker Labroy Marine (LABR.SI: Quote, Profile , Research) rose as much as 5.2 percent to S$2.65 with 4.4 million shares traded after Morgan Stanley started coverage of the stock with an "overweight" rating.
The stock, which was trading at a 2-½ month high, was also the top percentage gainer among the counters on the Straits Times Index <.STI>.
Morgan Stanley analyst Praveen K Choudhary, who set a price target of S$3.40 for Labroy shares, said in a note that robust demand for oil rigs due to expected high oil prices would drive contract wins and higher margins for Labroy.
He said Labroy had more attractive valuations than Keppel Corp (KPLM.SI: Quote, ProfileResearch) and SembCorp Marine (SCMN.SI: Quote, Profile , Research), the world's top two offshore oil-rig makers. ,