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Rotary
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ruanlai
Master |
15-May-2013 18:03
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Do not understand why???? Revenue for 1st Qtr 2013 $102millions vs 133 millions in 1st Qtr 2012 drop by 23% 1st Qtr - Gross Profit is S$15.7millions vs 19.3millions in 2012 Drop by 18% BUT net profit before tax is S$1.7millions vs 0.275millions in 2012 increase of 600% net profit after tax is 0.871millions vs 0.451millions in 2012 increase of 93% Why such a good company no body want to trade......? Better get some tomorrow since nobody is interested...... Wahahahahahaha.................... |
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ruanlai
Master |
15-May-2013 17:54
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Page 1 of 4 MEDIA RELEASE For Immediate Release Rotary Engineering posts net profit of S$2.5m on revenue of S$102.8m for first quarter ended 31 March 2013 Strong Order Book: S$756 million Cash and equivalent: S$201 million “I believe that Rotary is showing encouraging signs of making a turnaround in its financial performance. We are now focused on executing our new and current projects well.” said Rotary’s Chairman and Managing Director, Mr Chia Kim Piow SINGAPORE, 8 May 2013 – MAINBOARD-LISTED Rotary Engineering Limited (Rotary or the Group)( 罗 德 里 工 程 有 限 公 司 ), a leading provider of engineering, procurement, construction and maintenance (EPCM) services supporting the oil and gas and petrochemical industry, today announced that it has recorded revenue of S$102.8 million and a net profit of S$2.5 million for its first-quarter results ended 31 March 2013. Rotary’s revenue this quarter as compared to revenue of S$133.4 million for the corresponding quarter in 2012, is within expectation as the Group’s new projects have just commenced. These projects include two major projects such as the US$250 million contract for Fujairah Oil Terminal in the United Arab Emirates and the S$300 million expansion of the oil terminal at Pulau Busing in Singapore. Gross margins remained stable at 15 per cent. Besides the two major projects mentioned above, work is also proceeding well at the Saudi Aramco Total Refining and Petrochemical Company (SATORP) project in Saudi Arabia as the Page 2 of 4 Group focused on completing the project according to the revised schedule agreed with SATORP. Administrative and finance costs were lower in line with revenue and reduced borrowings respectively. Foreign exchange loss in the current quarter was significantly lower as compared to a year ago due to reduced foreign exchange exposure and effective implementation of its foreign exchange management programme. Rotary’s Chairman and Managing Director Mr Chia Kim Piow (谢 金 标 ) said that in the midst of the prevailing global economic uncertainties, the first-quarter results were within expectations. “I believe that Rotary is showing encouraging signs of making a turnaround in its financial performance this year. We are focused on executing our new and current projects well. We garnered a promising first quarter as we started on our two projects for Fujairah Oil Terminal in the United Arab Emirates and on Pulau Busing respectively. This is boosted by the recent announcement of our contract wins worth S$42 million in Jurong Island, Singapore,” he added. Mr. Chia highlighted that the prospects for the oil and gas industry are bright due to strong demand for energy from China, India and the ASEAN. “We are pleased that our order book remain strong at S$756 million, about half of which can be attributed to projects outside Singapore. Rotary is staying busy, bidding for contracts in Singapore, around the region and the Middle East. We believe that we are on the right track to a start of a good year for Rotary,” he mentioned. Page 3 of 4 Healthy Financial Position The Group’s financial position continues to be healthy, backed by S$198.1 million of net assets, translating to net asset value per share of 34.9 Singapore cents as at 31 March 2013. The recent commencement of two major projects have bolstered the Group’s cash position to S$201.3 million, an increase of S$36.8 million as compared to the last financial year 2012. Correspondingly, net cash position also improved significantly by 45 per cent from S$81.3 million to S$117.7 million. Total loans and borrowings stood at S$83.6 million. Business Outlook The Group stays focus on its execution of current projects. In terms of outlook, Mr Chia said that there are positive signs in the midst of the current global uncertainties. Rotary’s business development activities continue to remain high. “We are seeing numerous enquiries and we are participating actively in tenders and through direct negotiations for numerous projects in Asean, South Asia and the Gulf Cooperation Council countries.” He added. The Group is cautiously optimistic, underpinned by its strong order book. This press release should be read in conjunction with the full SGX announcement released by Rotary dated 8 May 2013. A copy of the announcement is available on www.sgx.com. -- End – Page 4 of 4 About Rotary Engineering Limited (www.rotaryeng.com.sg) Rotary Engineering Limited is one of the region’s oil and gas infrastructure services company with extensive international experience, offering EPCM services to the oil and gas, petroleum, petrochemical and pharmaceutical industries. Headquartered in Singapore, Rotary has established a strong presence in the Asia Pacific and the Middle East, and continues to make its mark as a global player. Established in 1972, Rotary has forged a reputation built on its hallmark traits of providing quality services, within budget and on-time delivery. Today, the Group boasts a total strength of about 7,000 employees, which includes a highly and multi-skilled workforce that forms the mainstay of its core EPCM services. Singapore remains a focus for the Group while it actively seeks business opportunities overseas. The Group has subsidiaries in Malaysia, Thailand, Indonesia, India, China, Australia, Saudi Arabia and the United Arab Emirates. The Group has won numerous awards and accolades. It was the winner for " Most Transparent Company" in the Construction Category at the Securities Investors Association (Singapore)’s Investors Choice Awards 2007, 2011 and 2012. It was also the winner in the Enterprise category in 2008. Mr Chia Kim Piow, Rotary’s Chairman and Managing Director, won in the Businessman category for 2011 at the Singapore Business Awards which was jointly organised by the Business Times and DHL Worldwide Express Singapore. He also won the Joint Best Chief Executive Officer for 2008 in the " S$300 million to less than S$1 billion in market capitalisation'' category at the Singapore Corporate Awards 2009. Rotary is ISO 9000, ISO14000, OHSAS certified and is listed on the Mainboard of the Singapore Exchange since 1993. Issued on behalf of Rotary Engineering Limited by: Waterbrooks Consultants Pte Ltd ----------------------------------------------------------------------------------------------------------- Media and Analysts Contact: Rotary Engineering Limited Mr Phillip Choo Chief Financial Officer Tel: (+65) 6866-0806 Email: choo.phillip@rotaryeng.com.sg Mr Cheong Yew Meng Group Financial Controller Tel: (+65) 6866-0808 Email: ym.cheong@rotaryeng.com.sg Waterbrooks Consultants Pte Ltd Tel: (+65) 6100-2228 Mr Wayne Koo Mobile: (+65) 9338-8166 Email: wayne.koo@waterbrooks.com.sg Mr Ng Tian Khean Mobile: (+65) 9640-2808 Email: tk@waterbrooks.com.sg | ||||
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Octavia
Elite |
08-May-2013 08:14
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Rotary's Q1 net profit falls 20%, cautiously optimistic
Oil and gas related Rotary Engineering Limited reported on Wednesday that its net profit for the fiscal first quarter ended March 31, 2013 fell 20 per cent from a year ago to S$2.52 million. Revenue dropped 23 per cent to S$102.83 million as new projects have just started during the quarter. These projects include two major projects such as the US$250 million contract for Fujairah Oil Terminal in the United Arab Emirates and the S$300 million expansion of the oil terminal at Pulau Busing in Singapore |
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junction
Senior |
30-Mar-2013 21:12
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I will wait till next report before deciding whether to commit.
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guoyanyunyan
Elite |
30-Mar-2013 13:56
Yells: "uncertainty always exist" |
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…base on 3 mths chart… ...Rotary had completed a fry pan bottom pattern with confirmation by a window (gap) in an up move (25 Mar)… ...fry pan bottom is considered a major reversal signal... …strong support level @ $0.470…. lets see how Rotary evolve from here ... |
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tonylim
Master |
30-Mar-2013 12:58
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Once this problem at SATORP is over, Rotary will be on the road to recovery to its hey days of above $1
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Blanchard
Senior |
29-Mar-2013 14:12
Yells: "Winners cry..... Losers smile....." |
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Rotary’s Chairman and Managing Director Mr Chia Kim Piow said that FY2012 has been a very challenging year, especially when the Group encountered major problems at the tail end of the construction phase of the SATORP project that resulted in additional costs.... However, we have taken actions to resolve the issues. Our team continues with best effort to contain the additional costs. Work is now going well and we expect the project to be completed by the revised schedule agreed with SATORP.” I can expect the net loss to reduce & hope that the Group will turn profitable again with respect to FY2012 disappointing performance.
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junction
Senior |
29-Mar-2013 13:26
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I'm not sure Rotary can turn around because their biggest project in S Arabia, Satorp, is bleeding. Satorp project is much bigger what rotary can win this year and last year combined. Being new in the middle east, they were not familiar how the Arabs work.
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john_ric
Senior |
29-Mar-2013 13:16
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...to turn around this year with profit........... lim& tan
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john_ric
Senior |
27-Mar-2013 12:25
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ya... Window dressing ?????????????? | ||||
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Blanchard
Senior |
26-Mar-2013 17:50
Yells: "Winners cry..... Losers smile....." |
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Rotary Engineering secures two contracts worth S$42m in Singapore http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_284F598F77805F0548257B3A0033BEDA/$file/MediaRelease_26Mar2013.pdf?openelement |
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Blanchard
Senior |
05-Mar-2013 19:27
Yells: "Winners cry..... Losers smile....." |
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Missed buying more at 0.48 today. Will monitor it. | ||||
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terencefok
Master |
05-Mar-2013 18:21
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go up tomorrow? | ||||
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Blanchard
Senior |
01-Mar-2013 19:41
Yells: "Winners cry..... Losers smile....." |
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Hope this year will be the year of turnaround for Rotary. | ||||
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luketoh
Senior |
01-Mar-2013 19:01
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Because pennies sentiment are real bad...BBs dumping. | ||||
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terencefok
Master |
01-Mar-2013 18:36
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anyone knows why drop so much today? | ||||
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terencefok
Master |
28-Feb-2013 08:01
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0.5 cent dividend | ||||
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terencefok
Master |
19-Feb-2013 21:59
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How is the trend now?
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chinhomia
Member |
06-Feb-2013 12:19
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not really.... pls see bc their financial last q....maybe their ll lose money last year...
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luketoh
Senior |
06-Feb-2013 11:22
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Guess current price seems to be good to buy. | ||||
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