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hit already :D
high chance of testing $5.50 soon
New123 ( Date: 04-Jan-2014 11:23) Posted:
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Turn bullish now
$5.20 must hold. if not, v bearish.
gold123 ( Date: 29-Jan-2014 08:34) Posted:
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SembCorp bounced off from 5.22 which may lend a temporary support for the price from heading south
New123 ( Date: 26-Dec-2013 21:40) Posted:
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Fraud charges in SembMarine forex case
Ex-group finance director charged on 57 counts of falsifying accounts
The long arm of the law has caught up with Wee Sing Guan, some six years after news broke that Sembcorp Marine's former group finance director had undertaken currency bets that cost the group US$303 million in losses and years of legal battles.
Wee, 65, has now been slapped with criminal charges for fraud, over his failure to report those losses.
Wee was charged in court last week on 57 counts of falsifying the accounts of Jurong Shipyard, SembMarine's wholly-owned unit, of which he was a director. He was said to have done it " wilfully and with intent to defraud" , by omitting to report the losses incurred on trading positions he held with various banks between 2005 and 2007.
Any idea to what extent would the policy on minimum wage for cleaners affect Sembcorp?
breaking out of $5.50 will be very positive.
New123 ( Date: 26-Dec-2013 21:40) Posted:
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latest update for SembCorp
New123 ( Date: 26-Dec-2013 21:40) Posted:
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Last Fri was having a doji. More likely to pull back.
New123 ( Date: 26-Dec-2013 21:40) Posted:
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See my view at http://sporeshare.blogspot.sg/2013/12/sembcorp.html
Sembcorp is pleased to announce that it will be developing a new industrial wastewater treatment plant in the Caofeidian Chemical Industrial Park in Hebei province, China. Through its wholly-owned subsidiary, Sembcorp (China) Holding Co, the company has entered into an agreement to set up an 80-20 joint venture with Tangshan Caofeidian Yongtai Industry Co, a wholly-owned entity of the Caofeidian Industrial Zone Administrative Committee. The joint venture company, Sembcorp Caofeidian Water Co, will build, own and operate an industrial wastewater treatment plant to serve customers in the chemical industrial park. Targeted to begin operations in late 2015, this wastewater treatment facility will have an initial capacity of 10,000 cubic metres per day and have advanced capabilities to treat high concentration industrial wastewater and high oil content industrial wastewater...
Daiwa highlights that project execution will be key for Sembcorp Industries in 2014. 2 major projects next year underpins Daiwa?s estimate of 18% y/y EPS growth, i.e. 1) 400MW co-generation plant in Jurong Island, and 2) 1320 MW coal-fired power plan in India coming online in 2H14. Daiwa adds that the timeliness of these projects will be a key share-price driver. SCI will also focus on projects that came online in 2013, such as the expansion of its $154m multi-utility facilities business on Jurong Island in early Dec 2013. The biggest risk for 2014 will still be the softening spark spreads in Singapore, from excess power-generation capacity. Daiwa remains O/PF on SCI with raised target price of $6.00 (increased from $5.80).
Company announced that they they bought back shares from the open market.
With a good set of results and growing business in all 3 sectors....the upside seems possible.
Below is the researcher view....
Recommendation
| Current | 1 week ago | 1 month ago | 2 months ago | 3 months ago | |||
| Buy | 7 | 7 | 7 | 6 | 6 | ||
| Outperform | 7 | 7 | 7 | 6 | 5 | ||
| Hold | 6 | 7 | 7 | 8 | 8 | ||
| UnderPerform | 1 | 1 | 1 | 1 | 1 | ||
| Sell | 0 | 0 | 0 | 0 | 0 | ||
| No Recommendation | 0 | 0 | 0 | 0 | 0 | ||
| Total Recommendation | 21 | 22 | 22 | 21 | 20 | ||
| Consensus Target Price |
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| Consensus Recommendation | Outperform | Outperform | Outperform | Outperform | |||
Counter still within its sideways trend in the long-term, trading close to the top range of the channel at $5.40. A close above that level may portend an upside towards its next resistance level at $5.50 followed by $5.60. However, if the counter fails to hold above its support at $5.30 (20MA) and $5.25 (50MA), it may see a near-term downside towards the $5.05 level at the 200 MA.
3Q13 net profit jumped 40.4% y/y to $254.4m (vs consensus of $206m) while revenue improved 31% to $2.97b. Utilities achieved 73% increase in net profit at $172.4m in 3Q13, boosted by gains from Salalah IPO in August ($117m, from a 20% stake sale + fair value gain on remaining 40% interest), offset by impairment for operations in the UK ($48.5m). Marine?s 3Q13 net profits were up 12% to $78.6m from higher operating profit and forex gain, offset by lower interest income and lower contributions from JV and associates. On the Marine side, net order book is $13.5b with deliveries extending till 2019, while the new yard at Tuas began operations in August 2013. Nomura highlighted that regarding the Utilities business, management expects better performance in 2013 vs 2012, highlighting the pipeline of Banyan cogen plan (start up mid 2014) while the 1,320 MW (TPCIL) India power plan is set to commence ops in 4Q14. Deutsche highlights that management guidance is that there should be no more impairment charges for Teeside operations in the UK, as restructuring is completed. Management guided that other businesses are sound going forward. Nomura likes SCI?s strong orderbook, and is optimistic on SCI?s utilities prospects going forward despite competitive outlook. However, CS differs in opinion, citing competitive utilities business as reason to maintain Neutral. MBKE highlights near term catalysts as earnings surprises from overseas ops, while long term prospects depend on pipeline of Utilities projects. Latest broker ratings as follows: Nomura: Maintains Buy at TP: $6.00, CS: Maintains Netural at TP: $5.30 (increased from $5.20) DB: Maintains Hold at TP: $5.40 CIMB: Maintains Outperform with TP: $6.24 (Increased from $5.95) MBKE: Maintains Hold with TP: $5.50 (from $5.48)
A large married deal of over 2 M shares was done this morning.....value over S$11M at 5.303
: )) ...fyi
| Price | Trade size | T |
Semb Corp has produced a good 9 mths results. Since Jun/July it has also catch up and perform as well as the STI ....question is " should it be perform better ?" The next Q4 result and full year would be interesting ...especially this year with a good gain from the Salalah Power IPO. Do we expect a good payout or special dividend ?