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ch offshore
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Philgoh57
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18-Feb-2010 15:10
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Establishment of Joint Venture Company http://choffshore.listedcompany.com/newsroom/20100212_171028_C13_27730EDBC24A9B4D482576C8002DB870.1.pdf |
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lynn89
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13-Feb-2010 18:38
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CH Offshore is worth more than $0.70 per share. Buy-and-Hold. |
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beidou
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12-Feb-2010 13:03
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The following write-up is from Bloomberg: Falcon to acquire the entire Scomi stake in CHO (29.1%) at S$0.70 per share. New shareholder in complementary business, may offer synergies. Although there is no takeover offer, transaction price should provide downside support to CHO, Maintain BUY. Falcon to acquire Scomi’s stake for S$0.70 per share. CHO’s largest shareholder, Scomi Marine, has announced that it has entered into a conditional share purchase agreement with Falcon Energy to dispose its entire 29.1% stake in CHO (205m shares) for a cash consideration of S$143.5m or S$0.70 per CHO share. Upon completion of the transaction, CHO will become an associate of Falcon Energy. Who is Falcon Energy? Falcon Energy is a Singapore-listed oil and gas service provider, with an operational track record of 30 years. It focuses mainly on the production phase of oilfield activities, and owns and operates a fleet of vessels comprising mainly of work/accommodation vessels. It is helmed by Mr Tan Pong Tyea, Executive Chairman and CEO, who has over 20 years of experience in the industry, supported by a team of industry veterans. A positive change for CHO? While it is not immediately clear to what extent Falcon will be involved in CHO’s daily operations, we believe that synergies such as enlarged business network, cross-selling of services, and broadened scope of services could be extracted from association with its new major shareholder, given the complementary businesses. Deal underscores CHO’s attractive valuations, maintain BUY. We maintain our BUY recommendation on CHO as we believe this deal underscores CHO’s attractive valuations. Although the deal does not trigger a general offer, we believe the transacted price and our estimated asset breakup value of CHO’s AHTS fleet of S$0.67 should limited downside to its share price. Our TP is unchanged at S$0.87. |
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Philgoh57
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09-Feb-2010 14:51
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Believe this is win-win deal for both Falcon and CH Offshore. | ||||||||||
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Philgoh57
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09-Feb-2010 14:47
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Hulumas
Supreme |
08-Feb-2010 19:20
Yells: "INVEST but not TRADE please!" |
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SO, your final answer is BUY? HOLD? SELL?
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kingster
Senior |
08-Feb-2010 10:01
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yup i was right in the reason for the halt... now guys, up to u all to look at the benefits of the change in ownership :) | ||||||||||
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Philgoh57
Member |
08-Feb-2010 09:44
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PROPOSED DISPOSAL OF 205,000,000 ORDINARY SHARES IN CH OFFSHORE LTD (“CHO”) REPRESENTING 29.07% OF THE ENTIRE ISSUED ORDINARY SHARES OF CHO BY SCOMI MARINE SERVICES PTE LTD (“SMS”), A WHOLLY-OWNED SUBSIDIARY OF SMB, TO FALCON ENERGY GROUP LIMITED (“PURCHASER”) FOR A TOTAL CASH CONSIDERATION OF SGD143,500,000 http://choffshore.listedcompany.com/newsroom/20100205_185811_C13_9333286BB7DAE8B1482576C1001B59DD.2.pdf |
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beidou
Member |
06-Feb-2010 09:01
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Scomi Marine selling CH Offshore stake SCOMI Marine Services Pte Ltd is planning to sell its entire 29.07 per cent stake in CH Offshore Ltd to Falcon Energy Group Limited for $143.50 million. Scomi Marine Services is a subsidiary of Scomi Marine Bhd. The sale price translates into 70 cents per CH share. I think the above news is positive for both CHO and Falcon and there will be synergy between the two companies as there are in similar business. The acquisition will help both to grow their offshore business and earn more revenue. |
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kingster
Senior |
05-Feb-2010 16:17
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more likely the major shareholder Scomi Marine is going to sell its 29% stack in CH offshore... that is why the halt... gd luck! | ||||||||||
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leolim818
Member |
05-Feb-2010 14:57
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They requested for trading halt might due to issuing rights to raise cash for the payment needed for the new vessels? As for vessel sale, they did state in their financials that they are trading the new vessel in the spot market. they burned nearly half of their cash last quarter. Seem like they have to raise cash or raise borrowings somehow. |
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daphnecsf
Senior |
04-Feb-2010 23:57
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:( 1st Half Net Profit -33.8% 2nd Quater Net Profit -38.4% http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_8FDA571D9D378A6B482576C00030D526/$file/CHOresults1stHalf10.pdf?openelement |
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Philgoh57
Member |
04-Dec-2009 22:56
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Extension of charter for AHTS. The total gross contract value for the Charters is approximately US$25.6 million. http://choffshore.listedcompany.com/newsroom/20091204_170903_C13_228CADC48BCDF5BF4825768200127C9B.1.pdf |
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tankuku
Master |
29-Sep-2009 09:13
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Final divident confirm.
Final tax exempt dividend of 1.5 SGD cents per ordinary share for the financial year ended June 30,2009 : Record date :25-11-2009 Date paid: 11-12-2009 |
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tankuku
Master |
28-Sep-2009 20:04
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Final tax exempt dividend of 1.5 SGD cents per ordinary share for the financial year ended June 30,2009 : Record date :25-11-2009 Date paid: 11-12-2009 |
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tkimcs
Member |
28-Sep-2009 18:07
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thanks.
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tankuku
Master |
28-Sep-2009 11:26
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DMG and Partners said that local company that is making inroads is marine logistics and support services provider were poised to benefit from an improving offshore and marine climate. One possible beneficiaries of the Gordon project include component makers and suppliers such as CH Offshore and Technics Oil and Gas. Offshore logistics provider CH Offshore hit a year-high of 69.5 cents on Wednesday after jumping 12 per cent the previous day on an upgrade by DBS which initiated coverage of what it called a 'deeply undervalued' stock with a 'buy' rating and target price estimate of 89 cents. Buy b4 strong buyup by BB pushing it higher. |
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tankuku
Master |
28-Sep-2009 11:01
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With Ezion moving to new high, it may be CH offshore turn this week to hit top volume and moving to new high of 0.8 Keep a look out and all the best to these who vest. |
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tankuku
Master |
28-Sep-2009 10:18
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Should be announcing the divident payment date soon. Final divident should be SGS 1.5c |
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tankuku
Master |
28-Sep-2009 08:07
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Yes , simalar: CH OFFSHORE LTD (CHO) is a dynamic offshore service provider that provides a wide range of services to the offshore oil and gas industry. To cater for the exploration and production of oil and gas in both shallow and deep waters, CHO has a fleet of Anchor-handling Tug/Supply (AHTS) vessels with Bollard Pull ranging from 50 Tonnes to 150 Tonnes. |
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