KepCorp   

Keppel

Contra at 17.90.....for beer this weekend.   :-)

 

iPunter,

This was only a small punt....will probably sell early today (contra)....get some coffee/beer $$. My main holdings of this counter remains intact for longer term.

 

Have you decided on your exit point yet?:

 

Keppel announced a USD 371m order to build the world's largest Jack Up Rig to operate in water depth of up to 400 ft in the North Sea. Delivery scheduled for early 2010.

:-)  :-)  :-)

 

Went in for a punt today @ 17.30.

OSEA (Offshore SEA Exhibition) started today. Think they may take this opportunity to make some announcement ....on new orders?

Today also announced a long term charter of their power barge to Ecuador. This barge was off charter for the past year or so and has been a bit of a drag to Keppel's bottomline.

Also, TA indicators look positive.

Lets see how it goes :-)

 

It may rise another dollar first, as most of the weak holders are already flushed out during the recent consolidation.

In uncharted territory, it may even shoot higher than that.

Best is put in a trailing stop-loss to maximize your gains. 

 

Keppel has hit all-time high and is stalling. Time to take profit before it drifts downwards.

 

On a reasonable uptrend now. 

 

Qatar's Gulf Drilling says may order more rigs from Singapore's Keppel Corp

Gulf Drilling International (GDI), Qatar's national drilling company, may order more rigs from Keppel Corp as it plans to aggressively expand its exploration activities in the next 10-15 years, GDI chairman S Al-Shirrawi said.

    Al-Shirrawi was in Singapore to take delivery of the first jack-up oil rig built for GDI by Keppel Corp unit Keppel Offshore & Marine Ltd at a cost of 110 mln usd.

    The rig was finished ahead of schedule, according to Keppel.

    Keppel Corp is currently building a second rig for GDI, valued at 120 mln usd, due for delivery next year.

    GDI is planning to add 16 jack-up drill rigs to its existing four within the next 10-15 years, Al-Shirrawi told reporters.

    He said some of the rigs GDI is planning to buy will be built by Keppel, but did not give further details.

     "I don't know the exact number, but there is a small portion of the job (that will go to Keppel). We are trying to have more future programs with them," Al-Shirrawi said.

    Other than jack-up rigs, Al-Shirrawi said he is also interested to see what other vessels Keppel Corp is capable of building.

 

any way thanks for the second point of view..
everyone need it here, that why we are sharing! =)

 

Hi YongJiu,

Yah.. my opinions are always based on pure TA. I don't take FA into consideration.

 

singaporegal seem like reporting downtrend on both SPC & Keppel.
guess that is purely TA poing of view but for FA I think SPC is quite attractive.

 

Keppel reported buying SPC shares last week and increased its holdings to more than 44.8%

Perhaps they see SPC to have gone very undervalue, and they know of some good news/results  from SPC soon.
 

 

Could be on downtrend now.

 

Keppel seems to be getting its act together :- marine, solid waste, water, petroleum, property, etc. and this counter has further upside potential. Around $19-$20 should be achievable.

 

Citigroup says it has raised its target price to $20.40 from $20.00 after factoring-in its revised target price of $6.77 for Keppel Land.



"Keppel's key divisions should power ahead in 2007. Long-term visibility remains robust for offshore and marine, and property should benefit from continued recovery of the sector," Citigroup said in a note.



"Infrastructure should deliver significant growth, albeit from a small base, to account for 10-15% of group net profit by 2007," it said.



Citigroup said Keppel Corp had had a solid first nine months this year and could have a record year, with its infrastructure division likely turning around in the fourth quarter.

 

CIMB-GK has lifted its target price to $19.30 from $18.40 after it posted better-than-expected results for the third quarter.



CIMB-GK said that in response it had increased its estimates of net profit for Keppel Corp for 2006-2008 by 4-14% to take into account margin expansion in its offshore and marine engineering division.

 

KE's fair value is raised to $17.20 from $16.30 previously, to reflect a higher valuation of 18x PE for its O&M business, in line with peers.

 

Merrill Lynch said it is keeping its "buy" rating on Keppel Corp with a slight reduction of its target price to $18.30.



"The offshore cycle is very much intact. Keppel continues to derive strong growth from the O&M division. Outlook remains excellent as the group's order book achieved a record high of $10.5b.



"We remain optimistic that Keppel will continue to execute its growth strategy, and forecast the group to achieve record earnings over the next three years," it said.



Merrill expects Keppel Corp's net profit to rise from $563.67m last year to $709.33m this year, $842.44m next year and $895.62m in 2008.

 

DBSV has increased its 12-month target price to $18.80 from $18.40 after it revised its earnings estimates for the company to factor in contributions from its infrastructure division.



"Keppel Corp's Qatar project will boost infrastructure's earnings over 2007-2009 and provide it with a steady baseload from operations and maintenance for another 20 years," DBSV said in a note.



"We estimate that infrastructure will contribute about $60m  to (Keppel's) 2007 numbers, rising to $100m by 2009," it added.



DBSV expects net profit to grow to $686.9m this year from $563.6m last year, and expand further to $831.6m in 2007 and to $952.9m in 2008.