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STXOSV
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Chewbecca
Member |
28-Feb-2013 18:11
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STX OSV - The worst is behind  The STI gapped up 0.1% at open yesterday after good US housing data was announced. However, STX OSV was sold down in the auction and opened 3.4% lower day on day after the company released its financial results after market hours the day before.   Fortunately, the stock managed to pare some losses and ended down 2.3% for the day. STX OSV reported 4Q12 profits of NOK124mn, which is a 81% decrease compared to a year ago and 16% below Macquarie Equities Research (MER’s) estimates. MER released a research report on 26 February, shortly after the company announced its earnings. MERmaintains its 12-month price target of $1.82  and an ‘Outperform’  rating on STX OSV. Some excerpts from the report are shown below. Source: Macquarie Research - 28 Feb 2013 |
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james87
Veteran |
28-Feb-2013 18:05
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lol. How to make this emotion? which software?
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iPunter
Supreme |
28-Feb-2013 17:43
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Hard to say... if you dump, what if after you dumped it it chiong?...   But no matter what, stocks is all a mattter of luck...
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Octavia
Elite |
28-Feb-2013 17:39
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tmor surrender? |
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GorgeousOng
Elite |
28-Feb-2013 17:33
Yells: "Hehehaha...enjoy life n live to the fullest..." |
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Haha! You win lor!
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iPunter
Supreme |
28-Feb-2013 17:24
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I am ma hou pao...  luckily I dumped @1.315 ... lol... |
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huatzai
Member |
28-Feb-2013 17:20
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any chance to go up again??? | ||||
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yokoosi
Member |
28-Feb-2013 09:45
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Ai jai. Mai Panic | ||||
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CWC2929
Senior |
28-Feb-2013 03:36
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Know than I know why everything UP UP UP but our's hooting counters never UP........... | ||||
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intrinsic_play
Member |
28-Feb-2013 01:13
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E& Y is laughing their way to the bank 
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Chewbecca
Member |
27-Feb-2013 18:19
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Hahaha. Yeah concur
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iPunter
Supreme |
27-Feb-2013 18:12
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I mean it is common sense for anyone to sell at higher than the offered price,   since the market price is already higher than the offer price...         I can give such a recommendation for free... lol...
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Chewbecca
Member |
27-Feb-2013 18:10
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Who is they?
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iPunter
Supreme |
27-Feb-2013 18:09
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Such a valuable piece of recommendation...   I wonder how much they paid for that ... lol...  |
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Blanchard
Senior |
27-Feb-2013 17:42
Yells: "Winners cry..... Losers smile....." |
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LETTER FROM ERNST & YOUNG CORPORATE FINANCE PTE. LTD. TO THE INDEPENDENT DIRECTORS OF STX OSV HOLDINGS LIMITED ===========================================================================================
Shareholders may wish to sell their Shares in the open market if they are able to obtain a price higher than the Offer Price, net of related expenses (such as brokerage and trading costs). In summary, based on our analyses set out in this letter and after having considered carefully the information available to us and based on the market, economic, strategic and other relevant conditions prevailing as at the Latest Practicable Date, we are of the view that the Offer Price and the Options Proposal are, on balance, not attractive and there are generally insufficient compelling reasons to recommend the acceptance of the Offer and the Options Proposal. Accordingly, we advise the Independent Directors to recommend that Shareholders REJECT THE OFFER and that Optionholders REJECT THE OPTIONS PROPOSAL. |
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BummerHuat
Member |
27-Feb-2013 17:42
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IFA report out: “In summary, based on our analyses set out in this letter and after having considered carefully the information available to us and based on the market, economic, strategic and other relevant conditions prevailing as at the Latest Practicable Date, we are of the view that the Offer Price and the Options Proposal are, on balance, not attractive and there are generally insuffi cient compelling reasons to recommend the acceptance of the Offer and the Options Proposal. Accordingly, we advise the Independent Directors to recommend that Shareholders REJECT THE OFFER and that Optionholders REJECT THE OPTIONS PROPOSAL. Shareholders may wish to sell their Shares in the open market if they are able to obtain a price higher than the Offer Price, net of related expenses (such as brokerage and trading costs).” |
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iPunter
Supreme |
27-Feb-2013 17:40
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Ya lah... Pakat atau tak pakat pun tak salah-nya...     Sebab ta'ada orang pangil orang-orang kechil beli... Betul ka?           Kalau dia sendiri mahu beli, dia rugi dia binya pasah lah...
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huatzai
Member |
27-Feb-2013 17:08
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Just for sharing... copy from other website Strong cash balance but no final dividend declared.  Excluding the construction loan to fund  on-going  projects,  STX OSV's net  cash  of  NOK1.86bn  (SGD404m)  is  equivalent  to SGD0.342/share. There is no change in the dividend policy to pay out 30% of its net profit. In 2012, the company paid an interim dividend of SGD0.130/share, 78% of its FY12 EPS. Outlook:  Seeing  signs  of  improvement  for  large  and  ultra-large  AHTS.  The demand for  subsea  and  construction  vessels  remains  robust  and  management  is  seeing  some signs  of  improvement  in  the  enquiries  for  large  and  ultra-large  anchor  handling  tugs  and barges (AHTS). We expect the improvement to lead to more new orders for the company. Valuation: Maintain BUY with a lower TP of SGD1.82.  Following our earnings revision, we  lower  TP  to  SGD1.82  from  SGD1.96  based  on  12x  FY13F  P/E.  Stock  trades  at  8.6x FY13F P/E, a steep discount to large-cap offshore names. Key downside risk to our view is a successful privatization of the company by Fincantieri.
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BummerHuat
Member |
27-Feb-2013 16:56
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The E& Y report will not provide a price, will only say if the offer is " fair and reasonable" . Typically, the IFA report will compare the offer price with the last traded price and the average traded price over a period. They may also compare the valuation (P/E, P/B, EV/EBITDA) with industry peers to justify whether the offer is fair. On all these counts, it is very unlikely E& Y will say the offer price is fair. They won't compare it with the IPO price as that was in 2010 and already in the past. That's like saying chicken rice last time $1, now $2 chicken rice expensive.
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BummerHuat
Member |
27-Feb-2013 16:38
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STXOSV and Yangzijiang is not a fair comparison as they operate in different industries. While both are in shipbuilding, Yangzijiang build mass market ships for the commercial shipping sector, which is currently experiencing a severe oversupply of ships. Shipbuilders in this sector are bleeding. STXOSV builds ships for the offshore O& G sector. Demand for such ships depend on E& P expenditure by the oil majors, which is currently strong. The risk for STXOSV is when shipbuilders like Yangzijiang try to move into the OSV sector to make up for the downturn in commercial shipping. But OSV vessels are more complex and these Chinese companies can't just build up expertise and reputation overnight.
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