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paul1688 ( Date: 17-Sep-2012 16:24) Posted:
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SembCorp Marine has acquired the entire share capital of wholly-owned subsidiary of SLP Engineering (SLP). SMM will pay about £2.5m for both shares and settlement of the intercompany loans of SLP. The deal will be completed only upon certain conditions being met. The NTA of SLP is about £0.7m. Following the acquisition, SMM will now have a footprint in the UK, providing synergistic support and reaching out to its North Sea clientele. Sembmarine SLP offers the opportunity for future growth in new business areas within the renewable energy sector as well as in the fabrication of minimum facilities platforms (MFP) for marginal oil and gas fields in the North Sea and Asia Pacific waters.
merlin_magic ( Date: 14-Sep-2012 20:50) Posted:
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I think can Buy SembMar today.
Entry: $5.070 to $5.090
Stop-Loss: $4.930
More on my Blog at Alex Trades.
Good luck.
khng2012 ( Date: 10-Sep-2012 11:05) Posted:
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See how is QE3.
Sembmar will be the first to be hammered if bad new is out. Except order from Petrobras, Sembmar has nothing left, poor result, poor order in singapore yard, poor profit margin and etc...
merlin_magic ( Date: 10-Sep-2012 09:57) Posted:
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super power record orderbooks.. fundamentally strong company
dyodd gd luck
Earnings on recovery mode
•
Strong visibility from record orderbook•
Robust pipeline FY13 order wins raised to S$5bn•
FY13
Earnings to bottom in FY12 and poised for recovery from•
Maintain BUY, TP S$5.85Major Petrobras orders secured strong visibility from record
orderbook.
added to its orderbook. Included were the five drillships and the
two anticipated FPSO projects for Petrobras. These have set new
records for SMM, with FY12 YTD order wins of S$9.1bn exceeding
pre-crisis peaks, and its S$12.6bn orderbook translating to a bookto-
bill of 2.6x, extending earnings visibility.
August was a bumper month for SMM, with S$6.1bnRobust pipeline FY13F order wins raised to S$5bn.
back of rising rig day rates and tightening rig capacity, the pipeline
for potential orders remains robust. We raise our FY13 order wins
assumption to S$5.0bn (prev S$4.0bn) in view of this no change
to our FY12 non-Petrobras order wins assumption of S$5bn. In the
near term, we see SMM as a key contender for two harsh
environment Cat J jackups for Statoil worth > US$1bn.
On theEarnings to bottom in FY12 poised for recovery from FY13.
We expect earnings to bottom in FY12, before recovering 17% yo-
y in FY13F, and 4% in FY14F. The recovery in earnings is
expected to commence from 2H12, which forms 61% of our
FY12F, buoyed by higher turnover and improved margins. We
maintain our FY13F despite raising our order wins assumption as
we tweak our orderbook recognition schedule. Growth in
FY13/14F is underpinned by higher revenues from orderbook
drawdown, and on commencement of higher-margin ship repair
contributions from the new yard in FY13, with full year
contributions from all 4 drydocks in FY14.
Maintain BUY.
maintained. We have pegged the valuation of its core businesses
to 16x FY13 PE (unchanged), +0.5SD to historical mean. SMM is a
prime beneficiary of the current upcycle of deepwater, harsh
environment rigs. We see near term catalysts in the form of strong
order wins momentum on a robust project pipeline and improving
earnings outlook. Maintain BUY.
Jason Saw (+65 6232 3871, jason.saw@sg,oskgroup.com)
High earnings visibility with record order book. Sembcorp Marine (SMM)’s Brazilian unit Jurong Do Brasil has won a US$674m (S$844m) contract from Tupi B.V., a Petrobras-led consortium. Weestimate that the new contract lifted its YTD order win to around S$9.2b and net backlog to S$12.6b, a new record backlog for the company.