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TEMASEK HOLDING VESTED IN BRASIL
Temasek Holdings Pte, Singapore’s state investment company, paid $400 million for a 14.3 percent stake in the oil services unit of Brazil’s Odebrecht SA as it increases its focus on emerging markets.
The investment in Rio de Janeiro-based Odebrecht Oil & Gas comes after Temasek opened offices in Mexico City and Sao Paulo about two years ago. The company also has investments in Brazilian real estate and retail companies.
Temasek owns stakes in the world’s two biggest oil-rig makers, Singapore’s Keppel Corp. and SembCorp Marine Ltd. via SembCorp Industries Ltd., and has invested more than $2 billion on energy and resources assets from the U.S. to India in the past year.
“The discovery and exploration of large deepwater oil and gas reserves, including those off the Brazilian coast, will have important economic significance and will pose relevant growth opportunities in the medium and long term,” Matheus Villares, Temasek’s managing director in the country, said in a statement.
Odebrecht Oil & Gas will spend $3.5 billion over the next three years and may sell shares in an initial public offering to finance future projects, Chief Executive Officer Miguel Gradin said at an event in Rio de Janeiro yesterday.
“For our next projects we will need project financing,” Gradin said. “It could be a mix of debt and equity.”
Petrobras Rigs
The Brazilian company plans to supply oil companies including state-controlled Petroleo Brasileiro SA with drilling rigs and platforms as Brazil plans to more than double oil output in the next decade.
Petroleo Brasileiro, known as Petrobras, has hired the first five deep-water rigs, Gradin said. Petrobras will use them to develop oil fields in the so-called pre-salt region of the Atlantic Ocean where Brazil found Tupi, the largest discovery in the Americas since Mexico’s Cantarell in 1976.
Odebrecht “is well positioned to take a leading position in Brazil,” said Villares at the event.
Odebrecht may expand in Angola and Mexico over the next two years after it deploys the rigs in Brazil, Gradin said. The company has operations at an offshore block in Angola, he said.
“Our preferred markets are where we have a presence,” Gradin said.
Temasek, whose assets climbed 43 percent to S$186 billion ($142 billion) as of March 31 from a year earlier, has transformed itself from a passive holder of stakes in state- owned companies such as Singapore Telecommunications Ltd. and Singapore Airlines Ltd. to an investor with more than two-thirds of its underlying assets abroad.
The value of Temasek’s investments in resources firms rose to S$11.2 billion as of March 31, or 6 percent of its total portfolio, from S$6.5 billion, or 5 percent, according to its annual report.
The owner of five of Singapore’s 10 largest companies by market value has invested $500 million of convertible preferred shares of Oklahoma City-based Chesapeake Energy Corp., the third-largest U.S. natural-gas producer. Other investments were made into companies including Platmin Ltd., SouthGobi Energy Resources Ltd. and GMR Energy Ltd.
Commentary from david callaway,
Market watch, sydney
http://www.marketwatch.com/story/a-fistful-of-dollars-and-nowhere-to-go-in-asia-2010-10-22
ta.....
RSI moving out of trendline indicate momentum is losing strength with higher volume than yesterday, suggest directional move begin to consolidate.
oil price quiet quiet rock pass 8100
: )
local market was flat
mixed asset such as kpc and sci run solely
Seems like supergroup is the white horse among the red ones today.
: )
dj climb back 11k
Europe all green
information only
2 heavy weight industry genting singapore (due to profit taking) and mapletree (invitation to home) were the most heavy trade of all sti component.
sti look set to wait for mapletree seat in the morning trade as to welcome this heavy weight champion(today).
ta....
Bullish trend end in bearish harami suggest profit taking with ultra low volume.
1st Support at 450........ 445
Resistance remains at 462
Stonger resistance at 465
let's see how in the afternoon
hawke009 ( Date: 21-Oct-2010 13:27) Posted:
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krisluke ( Date: 19-Oct-2010 23:29) Posted:
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Got any possibility to pick worthy durians from sgx beside smm.....
Or wait till thursday morning.
good nite
Logout
DXY ~ US dollar future index future Spot price
Support ~ 7692
Resistance ~ 7814
Sgx announcement
Singapore, October 18, 2010: Sembcorp Marine is pleased to announce that the third quarter 2010 financial statement and related announcement will be released on 4 November 2010 (Thursday) after trading hours.
This notice will be updated should there be any amendments.
SMM...... Too many good news, sometimes one bad new is GOOD.
Globe News ~ China surprises with bank reserve hike; affect bond and equities market, short term
Fundamental ~ Up to Date contract win, $2.3b; October 10 contract win, $1.3b
TA ~ Support by 3 days ma, 445.
Buy into weakness.
China stock : YZJ, CAO. Just a suggestion
Oil price ~ around 8100.
On Tuesday, SembMar re-tests the resistance at $4.65 and closed at $4.56 with HIGH volume of 8.75 million shares traded.
Three white candles occurred in the last three days. Although these candles were not big enough to create three white soldiers, the steady upward pattern is bullish.
Both RSI & MACD are bullish though RSI in “overbought” region.
Important Resistance of SembMar: $4.65
Immediate Support of SembMar: $4.50
Currently prices are well above the 20/50/100/200 days MA.
Today SembMar continue to trade at high volume for 2 consecutive day and attempt to break the next resistance at $4.65.
However the attempt is a total failure as indicate by the long upper shadow of the candle stick establish today.
Investors have already began to profit take and “sell on news” instead of pushing the prices further up.
We would advise investors to consider taking profit or monitor the support at $4.50 for any signs of pullback.
SEE ANALYSIS FOR EZRA
With such a recent steep rally, any further upside will be limited especially the earnings report is already out.
Dmg Osk 442 Sell to neutral 19 Oct 2010
krisluke ( Date: 19-Oct-2010 22:01) Posted:
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Local Brokage Firm ~ Smm
CIMB 523 Out Perform
DBS Vicker 480 Under Review
Dmg Osk 373 Maintain Sell
Kim Eng 540 Buy Call
Ocbc 475 Buy Fair value
And 4 vs 1 : )
Fundamental news plays an more important part than TA and globe news
SGX announcement
http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_533A2BC0CCCC78A8482577C000189CC0/$file/SCMPressRelease18Oct2010.pdf?openelement
Soon will be 4.8. See below
Sembcorp Marine's Jurong Shipyard Secures US$384 Million Contract To Build Two Jack-up Rigs With Options For Another Four Jack-up Rigs From Seadrill
Singapore, October 18, 2010: Sembcorp Marine's subsidiary Jurong Shipyard (JSPL) has secured orders of US$384 million for two turnkey jack-up rigs with options for another four jack-up rigs from Seadrill.
The total estimated value of the six jack-up rigs, including the four jack-up rig options is expected to surpass the US$1 billion mark. This contract with Seadrill will be the largest order of rigs to-date, reflecting the growing market segment for quality premium high specification jack-up rigs.
Scheduled for delivery in the fourth quarter of 2012 and the first quarter of 2013 respectively, the jack-up rigs represent the latest generation, high specification jack-up drilling rigs with greater capacities and capabilities than current conventional units. These rigs will be built based on the Friede & Goldman JU2000E design and are suitable for operations world-wide, including the southern North Sea. On completion, these new rigs will be capable of operating in waters of 400 feet and drill to depths of 30,000 feet. They will offer improved drilling efficiencies with off-line pipe handling, simultaneous operations support and are equipped with increased accommodation capacity.