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Jaya vs other shipbuilding stocks
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Livermore
Master |
23-Aug-2007 20:15
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When market crashed, that was the time to accumulate on oil related stocks. The boom time will last for many years. |
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BullRun
Elite |
23-Aug-2007 19:36
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Wonderful money making machine for the last 6 years!! |
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moneymaking
Member |
31-Jul-2007 23:34
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Getting even higher. May cross S$2 in the next few days.
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BullRun
Elite |
02-Jul-2007 23:49
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Simply Wonderful!! |
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junjun108
Member |
02-Jul-2007 23:20
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  Look.....Jaya is heading north bound again!!! 
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fruitty
Senior |
06-Dec-2006 23:09
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Sorry, i mean sell. |
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fruitty
Senior |
06-Dec-2006 23:07
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I'm hoping to see my shares in Jaya when it gets above $1.50... |
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zhuge_liang
Supreme |
06-Dec-2006 11:19
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It rose to a two-month high of $1.49, a day after investment firm Nautical Offshore Services raised its buyout offer for the remaining shares in the firm. Cayman Islands-incorporated Nautical Offshore Services, which already held 44.3% of Jaya's shares, raised its offer price for the rest of Jaya to $1.45 per share from $1.35 previously, Jaya said in a statement to the Singapore Exchange late on Tuesday. NOS now holds an aggregate stake of 51.5% in the company, after buying additional 49.9 million Jaya shares. |
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Nostradamus
Supreme |
24-Oct-2006 23:14
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This counter will not reach $1.80, $1.85 because Nautical Offshore Services is only offering to buy at $1.35. |
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Nostradamus
Supreme |
23-Oct-2006 21:38
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DBSV says it has lowered its rating to "hold" from "buy" because of its valuation, saying that new investor Nautical Offshore Services may not be serious about raising its stake significantly from 44.3%. Nautical has signed agreements with Jaya shareholders to acquire 44.32% of the company, including a 29.3% stake held by Malaysia's Sime Darby Bhd. Nautical is offering $1.35 per share for those shares in Jaya that it does not already own. "Given that the offer price is below the last traded price, we believe that the new shareholder may not have any real intentions to raise its stake significantly from 44.3%, and the offer is priced not to succeed at this level," DBSV analyst Jesvindher Sandhu said in a note. "We recommend investors to hold on to Jaya's shares," she said. DBSV is keeping its target price of $1.64 price for Jaya. |
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mwzl95
Member |
21-Oct-2006 20:19
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It doesn't look like a very good time to buy Jaya, looking at the information I'm getting from the charts. |
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mwzl95
Member |
21-Oct-2006 20:19
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It doesn't look like a very good time to buy Jaya, looking at the information I'm getting from the charts. |
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Nostradamus
Supreme |
21-Oct-2006 19:38
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Nautical Offshore Services also entered into 2 other deals at $1.35 a share. This makes it a total stake of 44.32%. |
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Nostradamus
Supreme |
20-Oct-2006 23:14
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Yes. Both Sime Darby and the current management of Jaya have agreed to waive their rights under an option agreement, it said. It said it will record a gain of approximately MYR452m from its disposal of Jaya shares. "Gross proceeds of $301.1m will be utilized for working capital and reinvested in the company's core business," the statement said. Sime Darby paid $223.02m or $1.00 a share for the 29.9% stake two years ago. The disposal price includes a final dividend of $0.055 per Jaya share or such final dividend as may be approved by Jaya's shareholders at the forthcoming shareholder meeting, it said. Nautical is a wholly-owned subsidiary of Nautical Offshore Holdings, which is owned by Affinity Asia Pacific Fund II LP, Affinity Asia Pacific Fund II GmbH & Co KG and Keystone Investment LLP, according to the stock exchange filing. |
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chipchip66
Master |
20-Oct-2006 18:49
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So, Sime Darby is offering to sell Nautica at $1.35 and not offering to buy at $1.35 rite? |
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Nostradamus
Supreme |
20-Oct-2006 18:42
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Sime Darby was not in for the long term. Just wanted to make some profit before exiting. Malaysian conglomerate Sime Darby said it had agreed to sell its entire stake of 29.3% to Nautical Offshore Services for $301.1m or $1.35 per Jaya share. The sale will result in a gain of about MYR452m, Sime said in a statement. "The Board of Sime Darby has decided that Jaya is not a strategic part of the Sime Darby group's core businesses," Sime Group Chief Executive Ahmad Zubir Murshid said. "This sale has allowed us to make a profitable exit just two years after the initial acquisition." |
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Nostradamus
Supreme |
23-Aug-2006 11:21
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Jaya is expected to announce results on Aug 23. KE believes market interest may be linked with Sime Darby's $1.20 call option on Jaya, which is exercisable towards end Sep. As GO will be triggered when the options are exercised, KE's best case fair value estimate for Jaya is $1.60. Two years ago, Sime Darby finalized a S$223m deal to acquire 29.9% of Jaya at $1.00, then valuing the company at 10x forward PE. As part of the deal, Sime Darby was also granted a call option to buy at least 15% of Jaya from key management at an exercise price of $1.20. The vendors, on the other hand, were granted a put option to sell their stakeholdings at $1.10. The options take effect 30 days after release of FY06 earnings and will have a validity window of 60 days. The are nil pre-conditions for the call but the vendors' put option can only be exercised if 2006 implied equity value is not less than S$630m. GO may be triggered this year. Assuming Sime Darby exercises the minimum 15% stake, a mandatory GO will be automatically triggered as a result. Although the call option sets $1.20 as a benchmark for key shareholders, minority shareholders appear to be hopeful of a market premium judging by the share price developments. KE uses Scomi-Habib Corp-Chuan Hup deal as a valuation proxy for Jaya. In 2004 as well, Chuan Hup divested its entire marine logistics business to Habib Corp Bhd (a reverse takeover vehicle of Scomi) for S$570m. The deal included the offshore logistics assets (91 vessels) and stakeholdings in CH Offshore and PT Rig Tenders. Of this portion, the marine vessels were sold for $433m at 15x historic PE; Singapore offshore stocks are currently trading at average forward multiples of 16.4x PE. A major catalyst which sparked off the offshore M&A scene was the first deepwater oil discovery in Malaysia at Kikeh in 2004. Field development cost estimates for Kikeh was estimated at US$2b with production slated for 2007-08. The original capex figures exclude further oilfield developments by Murphy Oil at Kakap (Block K) and Lepu (Block L), which could lead to a prolonged demand cycle for offshore assets. Jaya's valuation is still compelling at 10x consensus earnings versus comparables' 16x PE. If the peer range is used, target valuations can be justified at $1.60. In 2004 as well, Chuan Hup divested its entire marine logistics business to Habib Corp Bhd (a reverse takeover vehicle of Scomi) for S$570m. The deal included the offshore logistics assets (91 vessels) and stakeholdings in CH Offshore and PT Rig Tenders. Of this portion, the marine vessels were sold for $433m at 15x historic PE; Singapore offshore stocks are currently trading at average forward multiples of 16.4x PE. A major catalyst which sparked off the offshore M&A scene was the first deepwater oil discovery in Malaysia at Kikeh in 2004. Field development cost estimates for Kikeh was estimated at US$2b with production slated for 2007-08. The original capex figures exclude further oilfield developments by Murphy Oil at Kakap (Block K) and Lepu (Block L), which could lead to a prolonged demand cycle for offshore assets. Jaya's valuation is still compelling at 10x consensus earnings versus comparables' 16x PE. If the peer range is used, target valuations can be justified at $1.60. |
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Bumster
Member |
23-May-2006 01:56
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uncertainty over the put call option resulting in the under performance of the stk price. margins, cash flow, dividend cover, all healthy, and they are in the booming sector of AHTS. once the uncertainty of the options issue clears up 30 days after 30th of June, let's hope for better valuation |
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BullRun
Elite |
10-May-2006 08:09
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$1.5 barrier broken, will head towards $1.8 soon. |
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BullRun
Elite |
09-May-2006 19:00
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Oh, my forecast is very near to jpm target of $1.8...may be they should employ me as one of their asnalst!! 3 more months and full year result will be out and will be upgraded again to $2.0!! |
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Better strike it BIG BIG this time 
Chiong ahhhh!!!!