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I see. Thanks!
Peter_Pan ( Date: 23-Jan-2013 19:07) Posted:
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Done some technical analysis also, cannot follow blindly.
srichipan ( Date: 23-Jan-2013 18:59) Posted:
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Peter you base it on analyst reports ah? That's what I saw from your previous posts.
Peter_Pan ( Date: 23-Jan-2013 18:28) Posted:
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Simple, this is a company with a good base. You may refer to my earlier postings. Cheers!
Bryanchoo ( Date: 23-Jan-2013 17:18) Posted:
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hi Peter, any reasons for the last moment rally?have been viewing this counter for the past few days, was stagnant.
Enjoy...
CIMB's TP for Swiber is $0.84.
Analyst report from another bank brokerage may be coming out soon after re-rating.
Looks like a good buy with potential to run and good PE. Shall channel some of my fund to this counter.
Swiber Holdings (SWIB SP, AK3) –
Strong foothold in India, Indonesia, and Brunei
Last price: S$0.645
Target Price: S$0.86
2012 has been a bumper year for Swiber. It won around US$1.1b worth of new contracts, 30% more than in the previous year. Currently, its orderbook stands at US$1.4b, of which 40% will be recognised in 2013. Management is still optimistic that more new contracts will follow this year. Swiber has transformed into a regional player with footprints in established oil-producing ASEAN countries as well as in
UOB Kay Hian
I'm not sifu lah. Both are still good for entry at current levels. But you must ask yourself, are you able to stomach the retracement, if any.
windatoz ( Date: 09-Jan-2013 13:49) Posted:
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Thank you sifu, followed your Swiber call, still holding on.
Sold my ChinaMZ & Midas too fast, could you advise idea price for both entry again.
Thanks again!!!
Peter_Pan ( Date: 09-Jan-2013 13:42) Posted:
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Re-rating potential coming from more contract wins and
improving margins. Stock has been up 8.4% since we initiated
coverage a month ago, but valuations are still attractive at current levels
in our opinion. Maintain Buy with TP of SGD0.82, pegged to 8x FY13F
PER.
Maybank Kim Eng
Thank you Sir!
Peter_Pan ( Date: 09-Jan-2013 12:14) Posted:
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Enjoy...
GorgeousOng ( Date: 07-Jan-2013 15:19) Posted:
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Swiber Holdings
Healthy pipelines
Tendering activities remain firm, Maintain Buy. Our recent
conversation with management indicates that offshore construction
contracting activities remain strong. There are gushes of contracts
coming out from Mexico (Pemex) and India (ONGC). Other promising
areas which Swiber is bidding for projects include Indonesia, Myanmar
and Thailand where about USD5b worth of contracts relevant to Swiber
are available for bidding. We see potential for some of these bids to
turn into firm contracts in 1Q13. Our FY13F contract win expectation is
USD1.2b. Maintain Buy and TP of SGD0.82.
May still be in the running for ONGC contract. According to
Upstream, Swiber together with partner Larsen & Toubro (L& T) recently
emerged as the second lowest consortium bidder to construct a
process platform for ONGC in the Heera field. Swiber’s quote of
USD297.9m came in slightly below the lowest bidder’s USD289.5m bid.
Last week, ONGC awarded a separate Heera field contract to L& T in
favour of the lowest bidder. We infer that price may not be the ultimate
deciding factor and Swiber could still be in the running for this project.
Increased MTN limit. On 24 Dec 2012, Swiber raised its MTN limit
from SGD700m to SGD1.0b and expanded the program to include
perpetual securities. We estimate that it now has about SGD480m
available for drawdown. We believe that Swiber may need more funds
to repurchase its sale-and-leaseback vessels. This would see cost
savings from lower operating leases but would bring debt back onto the
balance sheet. Previously, it has identified seven key vessels to buy
back and has repurchased two of those. We understand that if all seven
vessels are bought back, savings in operating leases could drive gross
margins up from the current 15% level to above 20%.
4Q12 to be unexciting, catalysts in contract wins and margins. We
expect 4Q12 results to be unexciting with flat QoQ growth. However,
we see re-rating potential coming from more contract wins and
improving margins. Stock has been up 8.4% since we initiated
coverage a month ago, but valuations are still attractive at current levels
in our opinion. Maintain Buy with TP of SGD0.82, pegged to 8x FY13F
PER.
You're welcome.
secinue ( Date: 08-Jan-2013 13:00) Posted:
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Thank you!
Peter_Pan ( Date: 08-Jan-2013 12:56) Posted:
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swiber vs otto marine. which one better?
Target price around 0.82. This is a very undervalued stock.
secinue ( Date: 08-Jan-2013 12:47) Posted:
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