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BN4 down below 10, will she further down to 8.99 ????????
the $10 category (citydev, kepcorp) receiving positive attention ...
good call ... think it's climbing gradually ...
| sgnewbie ( Date: 17-May-2012 09:15) Posted: |
yup ..... top picks to ride the O& M cycle .....
| sgnewbie ( Date: 17-May-2012 09:15) Posted: |
looks like strong hands at 10.08 ... potential tech bounce to 10.5x again ?
STX OSV to name preferred bidder soon. Quoting a South Korean business news
website (MK Business News), Upstream reported that STX Group will soon
reveal the preferred bidder for its 50.8% stake in STX OSV. Among the
potential candidates are a consortium consisting of Fincantieri, a
state-owned Italian shipbuilder, with US private-equity firm, Carlyle
Group, and Singapore’s Keppel Corp. Note that in January 2012, Both Keppel
Corp and SembCorp Marine clarified that they are ‘currently not making a
bid for a stake in STX OSV’.
STX OSV a strong value proposition to potential buyers.
To recap, STX is the largest builder of AHTS of > 20,000 BHP and PSVs of
> 4,500 DWT, with a global market share of 30.8% and 18.0% respectively. It
operates from a network of nine shipyards in Norway (5), Romania (2), and 1
each in Brazil and Vietnam. The group is building on its leading 45% market
share in Brazil with the development of a second yard, to commence
operations in 2013. Once in full operation, STX will be able to deliver 6-7
larger vessels a year, boosting its Brazilian capacity by 3.3-4x. With a
strong presence and expansion plan in Brazil, STX OSV is among the prime
beneficiaries of Petrobras plan to expand its offshore support vessel fleet
by 66% in the next 5 years. Maintain BUY on STX OSV, the stock has retraced
by 12% from recent highs. A confirmed bid will benefit minorities, as the
purchase is likely to trigger a takeover offer. Our target price of S$2.00
for STX OSV is pegged to 11x blended FY12/13F PE.
If true, acquisition likely to be positive for KEP. Given that KEP had
earlier indicated no interest in the bid, it is unlikely that KEP will have
a change of heart, unless it is a sweet deal. In the event KEP emerges as
the winner for the stake, we envisage several benefits for Keppel.
a) Moving UP the value chain. STX OSV will push it up the value chain for
large, advanced OSVs while strengthening KEP’s leading global positioning
in the offshore engineering space. It is now the king in jack-ups with an
estimated 40% market share and 20% market share in semi-submersibles.
b) Boost to group order book. STX OSV has been building up its order book,
now at NOK18.0bn (S$3.8bn), translating to a healthy book-to-bill ratio of
1.6x. With an orderbook of S$14bn (including LOIs), KEP's book-to-bill
ratio is already at a record 2.7x!
c) Likely to be an earnings accretive deal. The deal is likely to be
accretive, given that STX is trading at 8x PE vs. KEP's 11x. Assuming KEP
does not overpay for the STX deal, our back-of-the-envelope estimates
indicate the acquisition could be earnings accretive for KEP, adding c. S
$100m to FY13F, or ~5.8%. This assumes KEP acquires 100% of STX OSV at our
target price of $2/share, and funding this entirely with debt at 4%.
Maintain BUY on KEP, TP $13.20.
it's normal whendrop blue chips are affected the most..
hlfoo2010 ( Date: 16-May-2012 12:25) Posted:
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First half very strong but started to lose half of the steam .
Below 10 dont grap wait til touch the ground.
losing its gains from yesterday..
waiting @ below $10 to grab.. come to papa :)
now up 23c......power !
can't hide fat fat order books from blue chip value investors..
ozone2002 ( Date: 15-May-2012 10:22) Posted:
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Thanks, covered & buy back again.
gavinl ( Date: 15-May-2012 14:36) Posted:
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strong rebound but isit sustianable?
gavinl ( Date: 15-May-2012 14:36) Posted:
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I hope you have covered back.
susan66 ( Date: 14-May-2012 17:47) Posted:
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Singapore shares inched higher by midday, reversing earlier losses on bargain hunting in oversold stocks such as Neptune Orient Lines (NOL), but gains were capped by worries over the political turmoil in Greece.
The benchmark Straits Times Index (STI) rose 0.2 percent to 2870.58, rebounding from an intraday low of 2,850.61.
" The STI touched a key support level near 2,850, its 200-day moving average and rebounded from there. Some investors are looking for bargains in the blue chips, as the market could be slightly oversold," said Ng Kian Teck, lead analyst at SIAS Research.
Ng said he saw strong interest in defensive companies such as Singapore Telecommunications Ltd or those with visible and strong earnings like Keppel Corp.
SingTel was up 1.3 percent at S$3.21 and was the most actively traded stock, while rig builder Keppel Corp rose 1.8 percent to S$10.27.
Container shipping firm NOL was the top gainer on the STI, rising 2.4 percent to S$1.07, snapping four straight days of losses. NOL shares have lost nearly 5 percent since the start of the year, underperforming the STI's 8.5 percent gain over the same period.
kep corp flying.. up 16c 1.6%.. should have gone in yesterday for a quickie
patience is a virtue
ozone2002 ( Date: 14-May-2012 16:30) Posted:
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some say this is sti benchmark...
susan66 ( Date: 14-May-2012 17:47) Posted:
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Missed out big profits, just shorted $10.27 finally see a bit of profit.
kep corp $10...
very tempting.. fat fat order books but price down down down.. yummy
monitoring to go in below $10..
gd luck dyodd..
ENjoy the durian meat throw the seed even still smell nice ???
Yes Keppel have a lot of oil and onion but not must meat, over cooked.
Down trend dip below 10 or more ???????????????