SPC   

SPC

The Storm surge shown (10-15 ft) will almost certainly hit the Iran coast - even if the storm weakens to a strong CAT 2 late Tuesday (NY time). The Eastern tip of Oman will likely also experience 10-15 foot surge due to the close proximity of the storm track. Further up the Gulf, before reaching the Straits of Hormuz - storm surge heights of 1-4 feet are expected on the Oman side, and 4-possibly 6 feet on the Iranian side near the entrance to the Straits. Significant wave heights will be 20-30 feet, dropping to 15 feet near the Straits. This is an unprecedented event. NO CYCLONE has ever entered the Gulf of Oman. And there are no custom 'storm surge' models available for that area. This forecast is based on my experience and subjective analysis of the seabed slope and storm surge interaction with the sea floor. Considering the region has never experienced a hurricane, let alone a strong one it is highly unlikely the loading facilities or platforms were constructed to withstand the forces - both wave action and wind force - that they will experience. Significant, damage will occur. How much long term damage, and the volumes associated with it - can not be determined at this time.

 

wish to see more trades done at 5.50 - 5.60 regardless of closing price

 

5.50 to 5.25, hmm... a good discount...

 

 

Gonu is, indeed, the first known Category-5 storm over the Arabian Sea. He is even watching carefully enough to detect wobbling in the eye path; he attributes this to thunderstorm pulsing over India and East Africa.

 

When in doubt, stay out.

 

think this should be more of a concern for those in for short term

China's Stock Index Tumbles 7.7 Percent: World's Biggest Mover

 

1402, simply say leh. Can buy or cannot buy. Then I shall decide.

 

just read. no need for explanation.

 

1402, alamak, this granny catch no ball. Please make it simpler. Thanks.

 

alamak. no paragraphing. sorry.

 

SPC eyes upstream buys SINGAPORE - Singapore Petroleum Co Ltd (SPC) is looking for acquisitions to boost its limited oil and gas assets, with a target to lift production to 150,000 barrels per day (bpd) to feed its refinery. SPC could pay up to $1 billion (US$654 million) for a company with 'good oil reserves' given its healthy cashflow, with the aim of increasing SPC's output from current levels of 2,600 bpd, said chairman Choo Chiau Beng. He did not give a timeframe for the target. 'Our top preference is acquisitions. You pay and you know the risks. When you explore, the risks are higher,' Mr Choo said in an interview in the Reuters Energy Summit. 'But these days, you have to pay top dollar for upstream assets.' He said SPC was looking at fellow countries in the Association of South East Asian Nations (Asean), as well as further afield in Australia, India and the Middle East, but declined to name any potential targets. 'There are many areas underexplored in the Asean region. Even Indonesia is not fully explored, as well as Myanmar and Cambodia. There is a lot of sense for Asean neighbours to work closely together to grow business and production,' he added. SPC has to date six exploration and production assets in Asia Pacific, including T06-3 in the Bass Basin in Australia, Block 101-100/04 Song Hong Basin in offshore Vietnam, Block B in offshore Cambodia, the Sampang PSC offshore East Java and the Kakap PSC in West Natuna Sea, Indonesia. SPC's current gearing ratio is near zero, having fetched a net profit of $112 million in the first quarter. Its shares rose 5 cents to $5.40 in afternoon trade. But the company seemed less aggressive in growing its 285,000-bpd Singapore Refining Co (SRC), a joint-venture between SPC and US major Chevron Corp, even though refining margins have held strong in the face of an expanding Asian sector. 'There are already a lot of refinery projects around the world and tightness in engineering contracts has caused projects to be delayed. And some projects may not even fly,' Mr Choo said. 'Downstream is more politically sensitive than upstream as it affects the consumers' pockets.' -- REUTERS

 

why mention CKS only, i also got 10 lots, and at $7, i would have $24k paper profit.

i was out this morning preparing for and sitting for my exams today, no chance to monitor and just reach home only.

i got some bad news from another forum.

Monday June 4, 5:40 PM
Sing. Petroleum holder in $158 mln share sale

HONG KONG, June 4 (Reuters) - A large shareholder in Singapore Petroleum Co. Ltd. was selling up to US$158 million worth of shares at a discount between 1 percent and 6.5 percent to the stock's Monday closing price, a term sheet said.

Satya Capital Ltd. was selling 45.65 million shares at S$5.00 to S$5.30 each in a deal handled by Merrill Lynch . Shares in the company were unchanged on Monday at S$5.35 each. (US$=S$1.5293)

 

I am back from Hanoi this weekend and the first thing I did was to see the SPC price performance...wow, I am delighted to see 5.50. CKS and 1402...I am extremely happy too as both of you were on Friday. Conrgatulation to all DIE-HARD fan of SPC, including myself...especially CKS who vested in SPC with 10 lots. Hope that you still holding them when SPC is 7.00 and your profit (paper) is 19,000...lol. JackJames, my inverstment is just an HDB. I am a commoner that do not have much to invest in private property. Beside, HDB is also a form of property investment that will apreciate in value through time. Investment of Properties and Stocks is a balance of both. Whichever, we must invest within our means.

 

Region's strategic environment stays favourable, he says at security summit

 

By DANIEL BUENAS

(SINGAPORE) The security outlook for Asia is stable and prospects are good in the coming years. But despite the positive signs, there are still risks that can derail the region's optimistic forecast, Prime Minister Lee Hsien Loong said last night.

Addressing delegates from 26 nations at the 6th International Institute of Strategic Studies' Asia Security Summit at Shangri-La Hotel, Mr Lee said a 'huge wave' of optimism is sweeping over Asia.

In his speech, he touched on the key strategic and geo-political issues of Asia's major players, including China, India, Japan and Asean.

The region's strategic environment remains favourable and relations between its major powers continue to be constructive, he said. 'Regional concerns are being managed, including in North Korea where some progress is being made on the nuclear issue. These conditions provide the essential backdrop for the region to grow and develop.'

One challenge for Asia is to develop the right framework so countries can 'deepen cooperation, discuss sensitive issues and contain and manage frictions' to ensure a stable environment, Mr Lee said. 'Over time, we hope that a robust regional architecture will emerge, which will enable Asian countries to work together on not just economic but also security issues. This is a prerequisite for prosperity and growth in the region, and indeed in the world.'

There are several potential security and political risks that could derail Asia's prospects, he said. One is the souring of US-China ties, with trade frictions a possible catalyst.

The misaligned exchange rate between the yuan and the US dollar has become a politicised and emotional issue, which, if not checked, could eventually lead to protectionist measures on both sides.

It could also cause 'friction and recrimination that would sour the broader relationship between the two countries and increase the risk of a cold war', which in turn would constrict trade and investment flows, Mr Lee said.

Another potential flashpoint is Taiwan, where recent political decisions and statements have been made that could 'raise the temperature' and lead to 'unintended and dangerous escalation of tentions between China and the US'.

A second potential risk is an upheaval in the Middle East caused by the Israel-Palestine conflict, a premature pull-out from Iraq by the US or if the nuclear issue in Iran - which Mr Lee called a 'critical uncertainty' in the region - is not resolved.

The final scenario with serious security implications is climate change.

'At the simplest level, climate change has the potential to create natural disasters and humanitarian crises,' Mr Lee said.

'In countries where the economic and political environment is already fragile, the stresses from climate change can cause social upheavals and civil strife.'

This is why it is vital that serious discussions on climate change take place and the problem be confronted head-on.

'Climate change can undermine the stable and predictable environment that underpins the growth and prosperity of all countries,' he said. 'This makes it a serious long-term threat to the security of the region, and the world.'

Despite the risks, Mr Lee is confident the transformation of Asia will continue.

'Virtually all Asian countries recognise that it would be counter-productive to resist change altogether, or try to maintain the status quo - they are modernising rapidly, absorbing new ideas, adapting them to their own situations, and influencing one another,' he said. 'Our response to the challenges ahead must be creative and far-sighted. Then we can continue to achieve sustainable development and growth, raise living standards for all and bring about an Asian renaissance.'

 

If you have not read Prime Minister Lee Hsien Loong speech recently, I suggest that you read them as well. I had the exact views as what was mentioned in his speech as reflected in my action recently.

 

importexport, please explain yourself.

 

not much strength at the moment

 

hi Shplayer... thanks for pointing out... I actually extract below post "it as it is" from the SPC counter of http://singtel.shareinvestor.com site.. I think they just used the dividend SGD 0.2 1ST & FINAL ONE-TIER TAX and did not include the SGD 0.15 SPECIAL ONE-TIER TAX.

 

CKS,

Re your latest post, think there is an error in the divident yield.

Historical yield  based on FY06 35 cts and share price of 5.40 should be 6.48%