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STI to cross 3000 boosted by long-term investors
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tradersgx
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07-Dec-2009 01:11
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Oil and Gas Sector: To continue to outperform in 2010, Ezra FV $2.40, SembCorp Marine [BUY, FV: S$4.16], Keppel Corporation [BUY, S$9.70]. OCBC - By Low Pei Han Friday, 04.12.2009 The oil and gas sector was the best performing sector in 2009, appreciating by 141% compared to the STI’s 53% rise. Stepping into 2010, we see companies with expertise in deepwater production faring better than those limited to shallow waters. Keppel Corporation and SembCorp Marine are likely to see greater demand for semi-submersibles and drillships from customers, though there will still be demand for jack-ups. Ezra Holdings is likely to remain a favourite with its growing subsea production segment, barring unforeseen circumstances. The outlook for the supply vessel segment is dimmer than the construction vessel segment, given a possible oversupply situation for the former with many deliveries of newbuilds this year and next year. However we do note some deliveries may slip. We continue to be OVERWEIGHT on the oil and gas sector though we point out that different stages of the value chain and their sub-segments experience different demand and supply dynamics. As such, we have picked Ezra Holdings [BUY, FV: S$2.40], SembCorp Marine [BUY, FV: S$4.16], and Keppel Corporation [BUY, FV:S$9.70] as likely beneficiaries based on underlying trends. Best-performing sector in 2009. The oil and gas sector was the best performing sector in 2009, appreciating by 141% compared to the STI’s 53% rise. Though there were concerns about the sustainability of exploration and production activities because of low oil prices in the earlier part of the year, confidence came back to the market with higher oil prices that were spurred by a myriad of factors. Government stimulus packages arrested the downward spiral of economic activity and market sentiment improved. With the belief that the global economy is likely recovering (albeit still fraught with uncertainties), the greenback weakened as funds flowed out to higher yielding assets, supporting the rise in oil prices. The solid long-term fundamentals of the oil and gas industry also endeared themselves to investors. Push for deeper waters. Stepping into 2010, we see companies with expertise in deepwater production faring better than those limited to shallow waters. Keppel Corporation and SembCorp Marine are likely to see greater demand for semi-submersibles and drillships from customers, though there will still be demand for jack-ups. The push for even more technical vessels is likely to continue, benefiting companies that do not scrimp on research and development. Ezra Holdings is likely to remain a favourite with its growing subsea production segment, barring unforeseen circumstances. Maintain OVERWEIGHT. Ezra Holdings [BUY, FV: S$2.40], SembCorp Marine [BUY, FV: S$4.16] and Keppel Corporation [BUY, S$9.70]. |
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tradersgx
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07-Dec-2009 01:07
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Oil and Gas Sector: To continue to outperform in 2010, Ezra FV $2.40, SembCorp Marine [BUY, FV: S$4.16], Keppel Corporation [BUY, S$9.70]. OCBC - By Low Pei Han Friday, 04.12.2009 The oil and gas sector was the best performing sector in 2009, appreciating by 141% compared to the STI’s 53% rise. Stepping into 2010, we see companies with expertise in deepwater production faring better than those limited to shallow waters. Keppel Corporation and SembCorp Marine are likely to see greater demand for semi-submersibles and drillships from customers, though there will still be demand for jack-ups. Ezra Holdings is likely to remain a favourite with its growing subsea production segment, barring unforeseen circumstances. The outlook for the supply vessel segment is dimmer than the construction vessel segment, given a possible oversupply situation for the former with many deliveries of newbuilds this year and next year. However we do note some deliveries may slip. We continue to be OVERWEIGHT on the oil and gas sector though we point out that different stages of the value chain and their sub-segments experience different demand and supply dynamics. As such, we have picked Ezra Holdings [BUY, FV: S$2.40], SembCorp Marine [BUY, FV: S$4.16], and Keppel Corporation [BUY, FV:S$9.70] as likely beneficiaries based on underlying trends. Push for deeper waters. Stepping into 2010, we see companies with expertise in deepwater production faring better than those limited to shallow waters. Keppel Corporation and SembCorp Marine are likely to see greater demand for semi-submersibles and drillships from customers, though there will still be demand for jack-ups. The push for even more technical vessels is likely to continue, benefiting companies that do not scrimp on research and development. Ezra Holdings is likely to remain a favourite with its growing subsea production segment, barring unforeseen circumstances. Maintain OVERWEIGHT. For 2010, we continue to be OVERWEIGHT on the oil and gas sector though we point out that different stages of the value chain and their sub-segments experience different demand and supply dynamics. As the global economy continues its fragile recovery, oil prices are likely to remain high enough to sustain capital expenditure in the sector. Though the credit market remains relatively tight-fisted, we understand that the financing situation is improving. Our preferred picks are Ezra Holdings [BUY, FV: S$2.40], SembCorp Marine [BUY, FV: S$4.16] and Keppel Corporation [BUY, S$9.70]. |
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tradersgx
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05-Dec-2009 02:02
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Keppel Corporation: Brighter outlook. Upgrade to BUY. Reflecting the higher pace of new orders and bright sector outlook, we anticipate new order wins of S$3.8b and S$4.0b for its core offshore marine segment in FY10 and FY11 respectively. We have raised our earnings estimates as well. Our recent upgrade of Keppel Land has also bumped up our fair value estimate to S$9.70 (based on SOTP valuation). Finally, Keppel has also mentioned that it may unlock the value of some of its infrastructure assets through a listed business trust, given suitable market conditions. With all the above reasons, we upgrade the stock to a BUY. Just over a span of three days in end-Nov saw Keppel announcing a total of S$884m of orders from four different customers such as Saipem and Noble Corporation. Order flows are gaining momentum and we think 1Q10 will see additional new orders that will benefit the entire sector with renewed capex rollouts. We are optimistic of Keppel’s chances of obtaining work from Petrobras, given 1) its impressive rig building track record, 2) the existence of a wholly-owned Keppel FELS Brasil’s yard in Rio de Janeiro and 3) Keppel’s close relationship with Brazil as seen from previous orders. Our property analyst has also identified several catalysts for Keppel Land in 2010, which leads us to be positive over the group’s outlook for the year ahead. Finally, Keppel has also mentioned that it may unlock the value of some of its infrastructure assets through a listed business trust, given suitable market conditions. Given all the above reasons, we raise our fair value estimate to S$9.70 and upgrade our call to BUY. 04.12.09 OCBC |
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tradersgx
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04-Dec-2009 00:24
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PAN-UNITED CORPORATION LTD WHOLLY-OWNED SUBSIDIARIES SECURE SUPPLY CONTRACTS WITH A COMBINED VALUE OF APPROXIMATELY S$107 MILLION The Board of Directors of Pan-United Corporation Ltd (the “Company”) is pleased to announce that its 100%-owned subsidiaries, Pan-United Concrete Pte Ltd (“Pan-United Concrete”) and United Cement Pte Ltd (“United Cement”), have both successfully secured supply contracts in connection with the Marina Coastal Expressway (“MCE”) development under MCE Contract 483 and 486. The combined value of the supply contracts is approximately S$107 million. Pan-United Concrete will supply ready-mixed concrete to Samsung C&T Corporation for the MCE Contract 483 and 486 projects while United Cement will supply Ordinary Portland Cement and Portland Blast Furnace Cement for the MCE Contract 483 project. The MCE is expected to be completed by end 2013. 03.12.09 |
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tradersgx
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03-Dec-2009 01:19
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..2 cents only...(highest 8.5 cents less 77.5%) 9 months ended Sep 2009 Net Profit (S$M)3.48 vs 9 months ended Sep 2008 Net Profit (S$M)15.45 % Change: -77.5% A commentary at the date of the announcement of the significant trends and competitive conditions of the industry in which the group operates and any known factors or events that may affect the group in the next reporting period and the next 12 months. Following the successful implementation of China’s RMB 4 trillion stimulus package, there was a respite for the steel mills. However, the fundamental issues of falling exports, soaring imports and concerns of oversupply remains unresolved in the steel industry. The Group will focus on prudent cost containment measures and effective cash flow management to prepare for the recovery in the long-run. The management has put in dedicated efforts to streamline its operations and implement cost control measures during this current economic turndown and shall continue to monitor its financial position closely. |
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tradersgx
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01-Dec-2009 16:45
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Heading towards to initial resistance at $2.55
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tradersgx
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01-Dec-2009 16:07
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tradersgx
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01-Dec-2009 14:16
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SIHUAN PHARMACEUTICAL HOLDINGS GROUP LTD. (“COMPANY”) – DATE OF DELISTING FROM THE OFFICIAL LIST OF THE SINGAPORE EXCHANGE SECURITIES TRADING LIMITED
2. DATE OF DELISTING FROM THE OFFICIAL LIST OF THE SGX-ST Following the completion of the Compulsory Acquisition on 1 December 2009, the Company wishes
to announce that it will be delisted from the Official List of the SGX-ST with effect from 9 a.m. on 2
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tradersgx
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30-Nov-2009 17:02
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OCBC 26.11.09 Breakout from key resistance suggests more upside ahead Strong rebound at support. Ezra could see more upside potential in the days ahead after rebounding strongly at its 8.5-month uptrend channel lower boundary and in the process, breaking above its $2.05 key resistance on heavy volume yesterday. Indicators turning bullish. With the RSI rebounding strongly at the 50% mark and the MACD initiating a bullish crossover yesterday (see enlarged chart); these signals suggest that the upside momentum is improving. Initial resistance at $2.55. On the upside, we peg the initial resistance at $2.55 (support- turned-resistance and 8.5-month channel upper boundary), breaking which, we see the next resistance at $3.00 (support-turned-resistance). Immediate support at $2.05. Below the immediate support at $2.05, the subsequent support is pegged at $1.67 (resistance-turned-support), ahead of $1.40 (resistance-turned-support). |
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tradersgx
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30-Nov-2009 12:30
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HSI +709.79 N225 +229.89 |
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tradersgx
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30-Nov-2009 09:28
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Nikkei225 +200.85 +2.21% now.... | ||||||||||||||||||||||||||||||||||||
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tradersgx
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30-Nov-2009 00:40
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27.11.09 closed 470.08 http://www.bloomberg.com/apps/cbuilder?ticker1=BWCOAL%3AIND |
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tradersgx
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30-Nov-2009 00:35
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FIRST QUARTER FINANCIAL STATEMENTS AND DIVIDEND ANNOUNCEMENT FOR THE PERIOD ENDED 30 SEPTEMBER 2009 PEC LTD reported a -4% in revenue to $106.9 S$million (Q on Q revenue of $111.2 S$million) and +19% in net profit to $7.3 S$million (Q on Q net profit of $6.2 S$million) http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_E6B66C7EB8BCBFC54825766A000EB84F/$file/1st_Quarter_FS_10Nov09.pdf?openelement A commentary at the date of the announcement of the significant trends and competitive conditions of the industry in which the Group operates and any known factors or events that may affect the Group in the next reporting period and the next 12 months. As at 31 October 2009, The Group’s order book for on-going and new project works was approximately S$ 170.0 million. A substantial part of these on-going and new project works are expected to be completed and recognised as revenue in FY2010. The outlook for FY2010 continues to be challenging, as the industry had experienced some deferment of project investments in FY2009 due to the economic slowdown. However, the Group has not experienced any cancellation or postponement of its existing contracts and with the gradual recovery in the global economy, the Group has in fact been receiving enquiries from existing and potential new customers. With a combination of a strong balance sheet and a proven business model, the Group is in a good position to leverage on these opportunities as and when they materialize. |
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tradersgx
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28-Nov-2009 13:20
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For the 9 months ended 30.09.2009, SAMKO TIMBER reported a -22.9% in revenue to $285.09 S$million (vs 9 mths FY08 revenue of $369.90 S$million)
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tradersgx
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28-Nov-2009 12:57
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For the 9 months ended 30.09.2009, JIUTIAN CHEMICAL reported a -41.9% in revenue to $25.89 million (vs 9 mths FY08 revenue of $44.57 S$million)
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tradersgx
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28-Nov-2009 11:56
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Finally, the date for Delisting of the Company is fixed - 14 Dec'2009 5pm.
Confirmation from the SGX-ST on the Last Day of Trading and the Date of Delisting of the Company (1) the last day and time of trading of the Company Shares on the SGX-ST being 14 December 2009 at 5pm; and
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tradersgx
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28-Nov-2009 02:30
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This guy can help to settle $13bil...
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tradersgx
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28-Nov-2009 02:26
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This guy help to settle $13bil...
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tradersgx
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28-Nov-2009 02:16
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For the 9 months ended 30.09.2009, SinoTechfib reported a -39.3% in revenue to $131.37 million (vs 9 mths FY08 revenue of $216.40 million) A commentary at the date of the announcement of the significant trends and Update on PU and Microfibre Products: Update on Pattern Moulding Paper (PMP) Production:
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tradersgx
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28-Nov-2009 02:03
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For the 9 months ended 30.09.2009, Chartered SemiCond reported a -23.0% in revenue to $1,425.6 million (vs 9 mths FY08 revenue of $1,851.6 million)
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