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Got hantam liao today
Very strong today. Why haa? Lift boat contract again? But low volume. . Easy to be manipulated like EMAS offshore..
Looking good!
Partnering Triyards (DBS)
&bull Subscribing for 29.5m warrants in Triyards,
representing an 8.33% stake upon full exercise
&bull Strategic move to partner with shipyard to tap the
growing demand for liftboats in Asia Pacific
&bull Reiterate BUY TP S$2.35
Strategic investment in Triyards. Ezion announced that it
is subscribing for 29.5m warrants in Triyards each warrant is
exercisable to one ordinary share at an exercise price of
US$0.563 (approx. S$0.725) per share, which amounts to a
total cash consideration of S$16.6m. The exercise price is at
a 9.6% premium to the VMAP for trades done on 10 Nov
2014, seems reasonable at 5.6x FY15 PE (FYE Aug) based on
bloomberg consensus. Upon full exercise, Ezion will have an
8.33% stake in Triyards. The subscription is conditional upon
the award of at least US$150m worth of shipbuilding
contracts (approx two liftboats) to Triyards together with
contracts for the provision of engineering services by Ezion,
within 180 days of the warrants subscription agreement.
Rationale: We believe the rationale for the strategic
partnership with the shipyard are: 1) Better control over
delivery schedule 2) Strengthening Ezion&rsquo s ability to tap the
growing liftboat demand, especially in Malaysia with shorter
delivery lead times 3) Popularise and educate the market on
liftboats.
One of the most resilient O& G plays. Ezion is trading at
an undemanding valuation of only 6x FY15F PE. It is one of
the most resilient O& G players against weak oil prices as its
rig fleet is locked-in on 3-5 year charter contracts and caters
to production phases in shallow waters. In addition, the
service rig market is still in an early growth phase in the Asia
Pacific region. Reiterate BUY. Our TP of S$2.35 is pegged to
10x FY15F PE.
Triyards issues warrants to Ezion for future subscription shares: http://www.seashipnews.com/News/Triyards-issues-warrants-to-Ezion-for-future-subscription-shares/3w3c2862.html
weird is they still giving dividend. seem like they are confidence of their future cashflow ?
moron101 ( Date: 25-Oct-2014 11:52) Posted:
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now result out. Do you still think it will reach your target by end of year?
Chewbecca ( Date: 19-Oct-2014 14:56) Posted:
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Very bad results especially Q4. Price may tank to 50 cents soon. Siao liao..
Anyone else tried to view the Copies of the Equity Purchase Agreements which were stated as being available for public inspection in the SGX announcement? They could not be produced!!!!! That' s what happens when you try to rush through a deal to compensate for upcoming poor results.
Last q result poor and tough times ahead....maybe can think to switch to others ....maybe
If due diligence had commenced earlier and you would assume an agreement entered into, shouldn' t the SGX and shareholders been advised earlier? So you think 24-hours between SGX announcement and completion is a normal way of doing business?......
Chewbecca ( Date: 19-Oct-2014 14:56) Posted:
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So you think there was no due diligence done at all before the announcement and it was all done in the 24 hours before announcement and completion? Ok........
lordoftherings ( Date: 19-Oct-2014 13:56) Posted:
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With due respect I disagree, despite good news stories the price has declined to .6550 and appears to be following the same trajectory as that of its major shareholder EZRA. Therefore I don' t think this is just my opinion, but a general lack of investor confidence. This latest acquistion appears to be the act of panic buying to boost the share price. Perhaps we will discover the background behind this rushed acquistion soon. Have you ever seen a public listed company, announce and complete on an acquisiton of $23.3M in 24-hours?
Chewbecca ( Date: 19-Oct-2014 07:33) Posted:
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You could look at it that way or you could see it as their confidence in their business and imminent new orders. Given triyards consistent track record, I tend to think the latter?
lordoftherings ( Date: 18-Oct-2014 23:10) Posted:
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You think so, with this reckless acquistion. The proposed acquisition of Strategic Singapore/Vietnam was announced on the 14th October and then on the 15th completion took place. 24 hours to spend $23.3million where was the due diligence, surely you spend more time buying a car. Little wonder the share prices are falling in Mr Lee' s companies............
happyharvest ( Date: 18-Oct-2014 20:08) Posted:
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2 months+ to prove you are right!
Chewbecca ( Date: 01-Sep-2014 13:20) Posted:
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Anyone find it strange why on the 14th Oct 2014 Triyards announce that they are going to buy the shares in Strategic Marine Singapore and Strategic Marine Vietnam and then just a day later completion takes place? Why the rush, just stinks of desperation.
lordoftherings ( Date: 15-Oct-2014 14:08) Posted:
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Watch this space, questions will be asked about this transaction.
granto ( Date: 14-Oct-2014 22:26) Posted:
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Triyards buys Strategic Marine yards in Singapore and Vietnam: http://www.seashipnews.com/News/Triyards-buys-Strategic-Marine-yards-in-Singapore-and-Vietnam/3w3c2744.html
Last:0.785 Vol:887k
+0.04
finally moving up .. spot gd fundamental undervalued stocks and go in before the herd
Time: 12:59PM
Exchange: SGX
Stock: Triyards(RC5)
Signal: Bullish MACD Crossover
Last Done: $0.79
ozone2002 ( Date: 25-Aug-2014 16:09) Posted:
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it looks scary whenever ppl make such comment
Chewbecca ( Date: 01-Sep-2014 13:25) Posted:
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