Latest Posts By Peter_Pan
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| 04-Jun-2013 13:29 |
Vard
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Vard Holdings
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An Italian love affair During Vard’s recent non-deal roadshow, we were heartened to learn of numerous opportunities for the company in conjunction with its new parent, Fincantieri. Stronger orders and toplines should compensate for lower margins, providing re-rating catalysts. We keep our FY13-15 EPS and target price, at 9x CY14 P/E (1 SD above its trading mean since listing). Maintain Outperform. Vard is our top pick among small/mid-cap O& M stocks. What Happened We recently hosted non-deal roadshows for Vard in Kuala Lumpur and Singapore, after its 1Q13 results. Head of Investor Relations, Mr Holger Dilling, met 16 institutional funds. Investors wanted to know the potential synergies between Vard and Fincantieri. Mr Dilling suggested that there could be numerous joint business opportunities, including a cross-selling of designs collaboration between the two companies’ marine system businesses and a bigger customer base. Vard’s roadmap, management team and group structure will remain the same. Other topics included margins, Brazilian operating conditions, order outlook and dividend policy. What We Think In terms of technology, markets and culture, we see Fincantieri as a much better fit for Vard than its previous parent, the STX Group. Also, Fincantieri has greater vested interests in the future growth of Vard while the STX Group was only interested in selling the company in the later years of ownership. Mr Dilling also pointed out that Fincantieri adheres to the highest standards of corporate governance, due to its exposure to naval vessels whose end-customers are governmental units. On margins, Vard remains conservative, though it believes that operations should stabilise by year-end. We expect margins to improve in 2014 from a scaling of the learning curve for Transpetro orders as well as investment initiatives for its Romanian and Vietnamese yards. Additionally, Vard was markedly positive on its order outlook. Stronger orders and toplines could compensate for lower margins. What You Should Do Trading at 7.4x Cy14 P/E and 4.3% dividend yields, investors agreed that the stock is cheap, against local OSV companies. Vard is our top pick among small/mid-cap O& M stocks.
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| 04-Jun-2013 13:13 |
Midas
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Midas
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Accumulate with the big funds while the price is still depressed. Enjoy... | |||||||||||||||
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| 04-Jun-2013 13:07 |
Midas
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Midas
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Midas should be able to break the great wall of china soon. | |||||||||||||||
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| 04-Jun-2013 12:59 |
Midas
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Midas
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CSR Qingdao Sifang to build Škoda trams for the Chinese market03 June 2013 
CHINA: Škoda Transportation has signed an agreement for CSR Qingdao Sifang to produce ForCity 15T low-floor trams for the Chinese market under licence. Škoda Transportation said the 10-year agreement announced on June 3 could cover up to 400 trams taking the value of the contract to KC5bn. 'China currently has a sophisticated plan for investment in the public transport sector', said Tomáš Krsek, Chairman of Škoda Transportation. 'Therefore, the local market is very interesting for us. But it is also necessary to keep in mind that the market is highly competitive, where all multinational global companies take part. And that is why I see the contract as confirmation that our company is able to offer top quality products which can succeed in competition among world manufacturers.' |
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| 04-Jun-2013 12:59 |
Midas
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Midas
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Pingtan to build China's first cross-sea rail-road bridge( chinadaily.com.cn )Updated: 2013-06-03
China's first cross-sea rail-road bridge will soon start construction in Pingtan, Southeast China's Fujian province, Chinanews.com reported. The design of the Pingtan Haixia Rail-Road Bridge has been approved by the Fujian provincial government and China Railway Corporation, said the report. The cross-sea rail will span a distance of about 16.32 kilometers. It will start from Songxia Port in Changle city, stretch southeast over the Yuanhong channel, the Guyumen channel, Changyu Island, Xiaolian Island, the Xiaolian-Dalian island channel, Dalian Island, Haitan Strait, and finally reach Pingtan Island. The Pingtan Haixia Rail-Road Bridge, linking Songxia Port and Dalian Island, will measure 11.15 kilometers and is the main part of the cross-sea railway. It is designed to have two layers. The upper level will include a two-way six-lane highway, and the lower level will feature a double-track railway. The cross-sea rails are part of the new Fuzhou-Pingtan railway, which measures a total length of 88.43 kilometers. The bridge project includes three channel bridges over the Yuanhong channel, Guyumen channel and Dalian-Xiaolian island channel. It will also feature bridge approaches and railroad beds. The estimated investment amounts to 10.9 billion yuan ($1.78 billion). Chinanews.com didn't give a specific date as of when construction will begin. But according to news in March from Xinhua News Agency, work should kick off by the end of this year. |
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| 04-Jun-2013 09:52 |
Vard
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Vard Holdings
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Very likely many big institutional investors are getting into Vard everyday.
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| 04-Jun-2013 09:44 |
Vard
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Vard Holdings
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Very positive!
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| 03-Jun-2013 19:27 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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US futures going strong. | |||||||||||||||
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| 03-Jun-2013 19:17 |
Vard
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Vard Holdings
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Recent roadshow by CIMB gathered the interests of many institutional investors. Get ready for the uptrend. Hopefully target price will be raised after Vard managed to win more contracts!! | |||||||||||||||
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| 03-Jun-2013 19:08 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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Subsea 7 S.A. awarded US$170 million contract offshore UK
Monday, Jun 03, 2013 Subsea 7 S.A. (Oslo Břrs: SUBC) today announced the award of a contract valued at approximately US$170 million from Statoil for the Mariner field, located in the UK sector of the North Sea. The contract is for the engineering, procurement, installation and construction (EPIC) of 39km of rigid flowlines and flexible riser systems, together with associated subsea structures, protection systems, and tie-ins. Project management and engineering work will commence immediately at Subsea 7’s offices in Stavanger, Norway and Aberdeen, UK. Offshore activities utilising a variety of Subsea 7 vessels are scheduled to commence in 2015 and to be completed in 2016. Thomas Sunde, VP - Sales & Marketing (North Sea and Canada) said: "We are extremely pleased to have been awarded this significant project from Statoil for their Mariner field development in the North Sea. The award recognizes our ability to deliver the full range of technology solutions for subsea SURF projects, as well our strong track record as a reliable large scale EPIC Contractor. Subsea 7 looks forward to working closely with Statoil to successfully deliver our scope of work, with safety and quality at the forefront throughout." |
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| 03-Jun-2013 19:04 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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The bulls are fast and furious! | |||||||||||||||
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| 03-Jun-2013 19:01 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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U.K. May Factory Index Climbs to 14-Month High
June 3 (Bloomberg) -- Euro-area manufacturing output contracted less than initially estimated in May and a U.K. factory index surged, underscoring Mario Draghi’s view that the European economy is stabilizing. |
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| 03-Jun-2013 18:52 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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Old bao is also good bao like baobei.
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| 03-Jun-2013 18:29 |
Vard
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Vard Holdings
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Tonight i bring my Italian gf to lomantick candle light dinner.
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| 03-Jun-2013 18:25 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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Overweight on cyclicals. | |||||||||||||||
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| 03-Jun-2013 18:22 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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Some inflows of funds likely finding their way back into the Asian markets. | |||||||||||||||
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| 03-Jun-2013 18:18 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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No worries. Open low close high.
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| 03-Jun-2013 16:06 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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Euro Zone PMI Rises to 48.3 in May vs 46.7 in April |
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| 03-Jun-2013 15:59 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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Have you jiak bah buay bao?
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| 03-Jun-2013 15:19 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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Remember to jiak bah buay bao woh...
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