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The Edge - Blog Heads "Week Ahead Comment Apr 19: Full steam ahead
THE STRAITS TIMES Index fell 0.4% from its high of 3,019.74 in the middle
of the week, but managed to close the week above 3,000. The market’s
bullishness was driven by better-than-expected GDP growth of 32.1% in 1Q2010
(Singapore’s strongest quarter of growth ever), but later simmered down as
investors took profit from the week’s gains.
With the government forecasting growth of between 7% and 9% this year, DBS
has singled out United Overseas Bank, Oversea-Chinese Banking Corp, Singapore
Airlines, Singapore Airport Terminal Services, Tiger Airways, Singapore Press
Holdings, Sembcorp Marine, Neptune Orient Lines and CapitaMall Trust as
beneficiaries of the anticipated upside. In the small-cap arena, its picks are
Broadway Industrial Group, CDL Hospitality Trusts and Frasers Centrepoint Trust.
today last day of CD..big movement today?
Hooray! FeiZhuRou got revised TP to $5.60 by DBS. Huat La.....
Meaty Meaty Yummy Yummy!
Singapore
Daily Focus
DBS Group Research . Equity 19 April 2010
Stock Picks – Large Cap Price ($)16/4/2010 Target Price($) Rcmd
Cosco Corporation 1.77 1.80 Buy
F & N 4.89 5.48 Buy
SembCorp Marine 4.42 5.60 Buy
SPH 4.07 4.42 Buy
SATS 2.90 3.20 Buy
sgxinvestor ( Date: 14-Mar-2010 16:59) Posted:
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MEDIA RELEASE – FOR IMMEDIATE RELEASE
Yangzijiang aiming to enter the robust offshore sector
SINGAPORE – 17 April 2010 – Yangzijiang Shipbuilding (Holdings) Limited
The Board of Directors of Yangzijiang is pleased to announce that it has entered into a joint investment agreement (dated 15 April 2010) with the Investor and Mediterranean Success Group ("MSG") (wholly owned by the Group’s Non-Executive Director, Mr Yu Kebing) to acquire PPL Holdings Pte Ltd ("PPLH"). Post the completion of the acquisition, Yangzijiang, the Investor and MSG would be having shareholding stakes in the proportions of 50.1%, 45% and 4.9% respectively in PPLH.
Yangzijiang has issued a binding letter of offer ("Letter of Offer") (dated 16 April 2010) to Baker Technology Limited ("Baker") pursuant to which the Group has made an offer to
acquire the entire issued and paid-up share capital of PPLH. Currently, Baker holds 100% of the shareholding in PPLH. Funding the 50.1% stake in PPLH At S$1.295 per new share, Yangzijiang would be issuing 83,555,000 new ordinary shares to the Middle East investor and garner a capital of US$77,655,000.
Subject to acceptance of the Letter of Offer by Baker and completion of the acquisition, the entire placement proceeds shall be used by Yangzijiang for the purpose of satisfying the purchase consideration payable by Yangzijiang for its 50.1% proportion of the acquisition of PPLH. Details of acquisition PPLH holds an aggregate direct and indirect 15% stake in PPL Shipyard Pte Ltd ("PPL Shipyard"). The balance 85% is held by Sembcorp Marine Limited ("SML").
PPL Shipyard is engaged in the business of design and construction of offshore drilling rigs from shallow water to deep water. Upon acceptance of the Letter of Offer and subject to completion, the key management of PPL Shipyard, Messrs Benety Chang and Anthony Sabastian Aurol, have undertaken to continue in their key executive positions until 31 December 2013.
The purchase consideration for PPLH of US$155 million is arrived at taking into account, inter alia Rationale The Board of Yangzijiang is of the view that this strategic acquisition would be in the best interest of the Group as Yangzijiang’s post-Acquisition involvement in PPL Shipyard's business for the design and construction of offshore drilling rigs would add to, and further strengthen Yangzijiang's capabilities in this area and further the Group's development and competency strategies.
--The End-- ABOUT BAKER TECHNOLOGY LIMITED (Bloomberg Ticker: BTL SP) Listed on SGX-ST mainboard, Baker Technology Limited (Baker Tech) is a leading manufacturer and provider of specialised equipment and services for the oil & gas industry. Its core business is in the design and construction of a wide range of equipment and components for use in the offshore environment. These include offshore pedestal cranes, anchor winches, skidding systems,
jacking systems and raw water tower structures. It also provides services such as project management, engineering services, quality assurance, and construction supervision.
Baker Tech has a 49% interest in York Transport Equipment (Asia) Pte Ltd, a manufacturer and distributor of trailer axles and related components. It also holds a 15% stake in PPL Shipyard which designs and constructs offshore rigs. PPL’s Pacific Class 375 jack-up rigs are well accepted in the market as rigs of choice. Baker Tech has market presence in China, the Middle East, Asia and USA. For more information please visit the website at: www.bakertech.com.sg ABOUT YANGZIJIANG SHIPBUILDING (HOLDINGS) LIMITED (Bloomberg Ticker: YZJ SP) Yangzijiang Shipbuilding (Holdings) Limited is the largest non-state-owned publicly listed shipbuilder by virtue of manufacturing capability in the PRC. The core business is shipbuilding of commercial vessels ranging from containerships, bulk cargo carriers and multi-purpose cargo vessels. The Group owns two shipbuilding bases across the Yangtze River, across each other.
Located in Jiangyin city in the Jiangsu province of PRC, the old shipyard spans approximately 800 metres of deep-water coastline and covers an area of approximately 200,000 square metres (excluding the coastal area).
The new shipyard is located in Jingjiang city and has 1,940 metres of deep-water coastline, a production area of 1,508,857 square metres and a dry dock that can accommodate two 100,000 DWT vessels and two half 100,000 DWT vessels at one time. For more information please visit the website at: www.yzjship.com Issued for and on behalf of Yangzijiang Shipbuilding (Holdings) Limited
By Financial PR Pte Ltd
For more information, please contact:
Romil SINGH, romil@financialpr.com.sg
Kathy ZHANG, kathy@financialpr.com.sg
Tel: (65) 6438 2990
Fax: (65) 6438 0064
jm2212 ( Date: 15-Apr-2010 11:55) Posted:
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i've cleared along the way since it hit $3, sold too early, luckily still keep some.
daphnecsf ( Date: 14-Apr-2010 23:17) Posted:
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Sweet! :) +18cents! Up Up Up FeiZhuRou!!!!
| *ST Index | 3,000.9 | +29.3 |
sgxinvestor ( Date: 14-Apr-2010 11:45) Posted:
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FeiZhuRou cheoooooong arh! Up Up Up go to break out STI 3000!!
SembMarine initiated a ‘buy’ by Phillip Securities
Phillip Securities has started Sembcorp Marine (S51.SG) at “buy” with $4.72 target price,
based on sum-of-parts valuation, according to Dow Jones.
The broker says prospects for rig builder bright as higher oil prices will encourage oil
companies to place more orders for rigs, offshore platforms.
It adds SembMarine able to bid for contracts at competitive prices as it continuously
seeks to boost productivity in bid to raise margins. Notes investments in three new shipyards
— in Singapore, Brazil, India — positive as they're expected to bring in new sources of income.
Shares off 1.4% at $4.20.
The Edge 13Apr2010
Wow, the oil is near US$87, "FeiZhuRou" Cheooooong ahh.....
Bloomberg Commodity Future
Oil 86.51
Nice and sweet :)
Lucky 7!!!
hey, this Anima is dangerous, just read that it's the cause of a korean young couple who got so addicted to it and cared to feed and groom the character of this creature and fed their new born baby once every 12 hours and spat the baby if it cried.
Korean can be that crazy huh...
Salute ( Date: 02-Apr-2010 01:08) Posted:
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TP S$4.70
PRiCE S$4.29
Mid-Week Comment 31 March: Shipping industry starts to turn
Written by Goola Warden - theedgesingapore.com
Thursday, 01 April 2010 12:00
............ Elsewhere, Kim Eng Research is bullish on Singapore Airlines and is raising its
target price to $18.90 from $16.20 earlier because of improved assumptions for passenger
loads from FY11. Analyst Rohan Suppiah believes that higher visitor arrivals into
Singapore, a recovery in the global aviation sector and a rebound in premium travel should
underpin better yields. SIA last traded at $15.20.
CHART WATCH
Leading offshore stocks Sembcorp Marine ($4.25) and Keppel Corp ($9.27) moved up
strongly in the past few sessions, and are experiencing a temporary retreat in the next two
sessions. For SembMarine, the breakout of $4.00 indicated a target of $4.70 and this remains (^.^ )
valid. Keppel’s retreat is also likely to be short-lived. It had broken out of a six-month
sideways range in March indicating a target of $9.93, and this too remains valid.
...............