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Technics Oil and Gas Limited announced that its 51% owned subsidiary, Norr Systems Pte Ltd was awarded a contract for two turnkey construction and a service contract worth S$25.6 million for two vessels.
/sgx masnet///
Pls. don't forget full year closing they gave away 10.5 cents when the stock price was just .79 cents.
Please see the earlier posting for more details.
Cheers.
Vested.
do note is 3 cents final, 3 cents special. Special means may not continue next year.
Recomended .06cents dividend.
Already a yield of 5.88% at current price + capital gains to be made.
Why not?
Cheers.
SIAS Research recommend BUY with Target Price at $1.10
Main reason is the bullishness on the procurement and other services segment.
Wish everyone here a nice weekend
Again, announcing dual listing plan just before listing of new shares today. With the recent awarded contract, share buy back, and good sentiment today, it looks like there is no big discount deal for me today
keepinvest ( Date: 29-Oct-2010 18:26) Posted:
Very smart move. Releasing strong results on the XD to prevent a massive sell off.
There will be another sell off when all warrants turn new shares. Warrants are still in a big discount, this should give the share price a great pressure. Maybe they will announce their dual listing plan right after issuing new shares from warrants to stop the potential massive sell off. |
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from cimb:
Technics Oil and Gas Ltd, via its 51%-owned subsidiary, Norr Systems, was awarded turnkey construction and a service contract worth S$25.6m for two 5,000 gross tonnage oil tankers. This contract falls within our order-win assumptions of S$120m for FY11. Maintain earnings estimates for FY11-12.
Target price remains at S$0.89, still based on 10x CY11 P/E.
Valuations are rich.
Maintain HOLD
/FYI-
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Technics Oil and Gas Limited announced that its 51% owned subsidiary, Norr Systems Pte Ltd was awarded the contract for two turnkey construction and a service contracts worth S$25.6 million for two vessels. Norr Systems shall provide service contract for maintenance and servicing of the entire two vessels for the subsequent 7 years after completion of the turnkey contract. The first vessel is scheduled for completion in 2011. The abovementioned contract is expected to contribute positively to the Group’s financial performance in FY2011.
Source: SGX Masnet
/ireadipostedFYIonly//
If warrant expired, then what it means to mother shares? Will it drop much?
Very smart move. Releasing strong results on the XD to prevent a massive sell off.
There will be another sell off when all warrants turn new shares. Warrants are still in a big discount, this should give the share price a great pressure. Maybe they will announce their dual listing plan right after issuing new shares from warrants to stop the potential massive sell off.
Technics’ FY2010 Net Profit Attributable to Equity Holders jumps 165% to S$16.38 million and Dividends of 10.5 cents per ordinary share declared for the year
EPS: 2.96 cents, the second best reported since 2006. Outstanding order book at 83 million, the Group is positive about the future performance.
i think they may also win mor e projects in future ...
Finally, buyers now realize how significant the $35 million contract is. It's now staying firm above 90 cents, hitting 94 cents at the closing.
By this time next year, they will deliver worth of over 90 million of projects for Vietsovpetro alone. There is no reason why another 10 cents dividend payout next year is imporssible.
Technics awarded S$35 million contract from Vietsovpetro for “Dragon” oilfield in offshore Vietnam.
This should give a gross profit around $10 million based on the recent profit margin, and together with other earnings, another 10-cent dividend payout next year looks very likely.
| TechOil&GaeW101126 |
5LZW |
i |
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SGD |
0.345 |
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+0.015 |
+4.6 |
355,000 |
25,000 |
0.340 |
0.345 |
49,000 |
0.335 |
0.330 |
0.345 |
0.335 |
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SGX |
5LZW |
TECH_t.SI |
-- |
-- |
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| TechOil&Gas |
5CQ |
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SGD |
0.855 |
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+0.010 |
+1.2 |
2,582,000 |
125,000 |
0.855 |
0.860 |
103,000 |
0.845 |
0.845 |
0.865 |
0.835 |
C,M |
1 : 1 = S$0.40
| TECHNICS OIL & GAS shares at three-year high - nearly |
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Written by Leong Chan Teik
Sunday, 05 September 2010 00:00
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On that day, the company made yet another significant share buyback, amounting to 954,000 shares at around 85 cents a share.
That brings the total number of shares it has bought back to about 10.4 million, or 7.26% of the issued share capital, since December 2008.
Supporting the buyback and the uptrend in stock price are:
* Cash pile: Technics had cash and cash equivalent of $37.4 million as at end-June, an increase of $17.18 million from $20.21 million as at 30 Sept 2009. It has short-term borrowings of S$26 million.
* Profit growth: Technics reported S$12.2 million in net profit for Jan-Sept 2010 period, compared to S$4.5 million in the previous year. Gross profit margin jumped 14 percentage points to 37% in 9M2010.
* Bumper dividend: Best of all, during its recent 3Q results announcement, it surprised by declaring a whopper of an interim dividend of 10.5 cents a share. Book closure date has yet to be fixed.
Robin Ting, chairman, Technics Oil & Gas
Technics’ warrants expire in November this year and can be converted one for one into the mother share at an exercise price of 40 cents apiece.
The conversion of the warrants will pour a big bucketful of cash (about S$28.6 million) into the company, as will a TDR listing of its shares in Taiwan, which Technics is pursuing.
And, of course, this is where the share buybacks could make eminent money sense: Technics could list as TDRs the 10.4 million shares it has bought back (plus any new shares that it may issue).
Technics can be expected to sell at a higher price to Taiwanese investors, who typically pay a premium for Singapore shares, as well as enjoy savings from not having to pay out the bumper 10.5-cent dividend on the shares it has bought back.
SHARES OF Technics Oil & Gas have touched their highest point in nearly three years, closing at 85.5 cents last Friday
Technics Oil & Gas designs, concept engineers and fabricates process modules and equipment for use in oil and gas exploration and production. Photo: Company
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You may buy back again, still plenty room for price appreciation! Sgd. 1.0 is imminent in the near future.
freeme ( Date: 04-Sep-2010 16:39) Posted:
haha.. still feeling abit sore.. hold them for 1 yr + didnt move.. after offload then fly.. miss out 6k profit.. damn
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haha.. still feeling abit sore.. hold them for 1 yr + didnt move.. after offload then fly.. miss out 6k profit.. damn
There you are share buy back programme going on!
keepinvest ( Date: 03-Sep-2010 22:06) Posted:
DAILY SHARE BUY-BACK NOTICE (03-Sep-2010)
Total number of shares purchased: 954,000
Price paid per share: S$0.85077
Cumulative no. of shares purchased to-date: 10,369,000
Maximum number of shares authorised for purchase: 14,291,657
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