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keppel Corp
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krisluke
Supreme |
18-Oct-2012 22:21
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Oil rig builder Keppel Corp Q3 net profit down 15 pctOct 18 (Reuters) - Singapore's Keppel Corp Ltd , the world's largest oil rig builder, reported third-quarter net profit of S$346 million ($284.5 million) - down 15 percent from a year earlier - as a result of lower-margin projects. The third-quarter figure was above the S$324 million average forecast of five analysts polled by Reuters. Keppel made net profit of S$520.9 million in the April-June quarter of this year when it booked gains from property units it sold earlier via a deferred payment plan. ($1 = 1.2163 Singapore dollars) (Reporting by Eveline Danubrata Editing by Daniel Magnowski)     Keppel profit falls 15% as Chinese shipbuilders target oil-rigs Keppel Corp., the world’s largest oil-rig maker, reported a 15% decline in third-quarter profit amid rising competition from Chinese shipbuilders. Net income fell to $346.4 million in the three months ended Sept. 30 from $406.1 million a year earlier, the company said in a statement to the Singapore stock exchange today. That was lower than the $388.7 million average of three analysts’ estimates compiled by Bloomberg. Sales climbed 19% to $3.2 billion. Prices for oil rigs and other offshore units have come under pressure, Keppel said, as Chinese shipbuilders including Cosco Corp. Singapore and China Rongsheng Heavy Industries Group Holdings expand into the market. The Chinese yards are targeting the sector because of a collapse in demand for dry-bulk vessels, their traditional focus. “Chinese yards and even Korean yards are hungry for jobs,” Tong Chong Heong, head of Keppel’s offshore unit, said on a webcast. “As long as they are hungry, there will be severe competition.” Operating Profit at Keppel’s offshore and marine unit fell 33% to $287 million. Operating margins to sales narrowed to 13%, from 26% a year earlier. The company also has a property unit. Order Book Keppel has won $8.8 billion of new orders this year. Its order book stands at $13.1 billion, with deliveries stretching into 2019, the company said. Oil companies are boosting spending on new equipment because of higher crude prices and declining reserves. The rig-maker closed little changed at $11.39 in Singapore trading before the earnings announcement. The stock has advanced 22% this year, compared an 16% gain for the 30- stock Straits Times Index. The company signed a US$4.1 billion ($5 billion) order in August to build five semi-submersible rigs for Sete Brasil Participacoes SA, an affiliate of Brazil’s state-backed oil company Petroleo Brasileiro SA. It received a US$950 million contract to build a floating oil production unit for Petrobras. Sete Brasil said in February it will spend US$27 billion by 2020 on drilling units. The company ordered an US$809 million semi-submersible rig from Keppel in December. High Overhead and Material Costs Cut Deep into Profits at Keppel CorpSINGAPORE–Keppel Corp. (BN4.SG) Thursday said third-quarter net profit fell 14.7% from a year earlier as a rise in costs outpaced revenue growth. Net profit for the three months ended Sept. 30 fell to S$346.4 million from S$406.1 million a year earlier. Revenue rose 19% to S$3.22 billion due to higher revenue from its offshore and marine and property divisions, the company said in a statement. Material and subcontracting costs soared 32.8% to S$2.3 billion while staff costs rose 9.8% to S$395 million, it said. Keppel’s Chief Executive Choo Chiau Beng projected a positive outlook, saying that offshore exploration and production spending remains buoyant, supported by Brent oil prices of above US$100 per barrel. “Oil companies have strong impetus to continue sanctioning projects. Recent discoveries in the North Sea, as well as deepwater Mexico and both coasts of Africa, have also fueled optimism for further exploration work,” Mr. Choo said in the statement. Keppel, the world’s biggest rig builder by volume, secured S$8.8 billion of new orders in the nine months ended Sept. 30, taking total orders at its marine and offshore division to S$13.1 billion, with deliveries extending into 2019. - Gaurav Raghuvanshi, (c) 2012 Dow Jones & Company |
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chinastar
Senior |
11-Oct-2012 09:34
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Good luck:)
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sgnewbie
Master |
10-Oct-2012 09:23
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http://sgxreports.blogspot.sg/2012/10/keppel-corp.html | ||||
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KepcorpSembmar
Member |
14-Sep-2012 02:04
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below $12 is a Strong Buy , $10 Billions of contract till 2015 . | ||||
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JohnnySparrow
Member |
08-Sep-2012 21:52
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Kepcrop buy call on 05/09 | ||||
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KepcorpSembmar
Member |
08-Sep-2012 20:05
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Buy before QE3 next week , Target $12+ | ||||
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sgnewbie
Master |
05-Sep-2012 09:27
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http://sgxreports.blogspot.sg/2012/09/offshore-marine.html | ||||
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stockmarketmind
Master |
28-Aug-2012 10:34
Yells: "stockmarketmindgames" |
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No more longing of Kepcorp. http://stockmarketmindgames.blogspot.sg/2012/08/kepcorp-slippage.html  |
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broadfeet
Member |
24-Aug-2012 21:01
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buy keps at 20ema 11.33 disclaimer : L-trader (risk taking in today down market)     |
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krisluke
Supreme |
22-Aug-2012 11:19
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Keppel unit wins $394m contract to build semisub from Floatel
Tags: Keppel Corp. | Keppel Corporation
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KepcorpSembmar
Member |
18-Aug-2012 02:44
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more contracts are coming , above $12 in August .
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stockmarketmind
Master |
17-Aug-2012 10:41
Yells: "stockmarketmindgames" |
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kepcorp just keeps moving higher.   http://stockmarketmindgames.blogspot.sg/2012/08/keppel-corp-barriers-broken.html  |
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sgnewbie
Master |
17-Aug-2012 09:36
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http://sgxreports.blogspot.sg/2012/08/offshore-marine.html | ||||
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stockmarketmind
Master |
14-Aug-2012 15:26
Yells: "stockmarketmindgames" |
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Kepcorp is trying hard to burst a barrier.   http://stockmarketmindgames.blogspot.sg/2012/08/kepcorp-barriers.html |
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stockmarketmind
Master |
14-Aug-2012 09:25
Yells: "stockmarketmindgames" |
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I shared my Kepcorp views during my last seminars where I told everyone there was still room to go. Today CEO buying more? Amazing! http://stockmarketmindgames.blogspot.sg/2012/08/kepcorp-no-profit-taking-yet-from-bbs.html  |
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ozone2002
Supreme |
14-Aug-2012 09:01
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  vote of confidence.. kep cop ceo buying more |
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alexmay
Veteran |
13-Aug-2012 10:13
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Petrobras still have 9 more rigs for award, Any chance for Kepcorp/SemMarine to be awarded. Any sifus have information? | ||||
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krisluke
Supreme |
10-Aug-2012 09:21
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Keppel Corp: secures two contracts worth a total of ~US$950m from Petrobras, for the fabrication and integration of topside modules on the FPSO P-66 and P-69. Petrobras has an option for a similar contract to be exercised by 1Q14. The FPSOs will have identical work scopes which incl the fabrication and integration of 7 topside modules. When completed, one will work in the Guara field and the other in the Tupi field in offshore Brazi. Both FPSOs will each have a pdtn capacity of 150k bopd. This brings KEP’s ytd order wins to $12b, eclipsing SMM’s ytd order wins of $8.2b. With an extended orderbook visibility until 2019, both rig builders continue to be Street favorites. SMM has 22 Buy and 4 Hold ratings with TP btwn $4.40 - $7.00. KEP has 23 Buy, 2 Hold and 1 Sell rating with recent TP btwn $12.05 – 14.80. |
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krisluke
Supreme |
10-Aug-2012 09:17
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KEPPEL CORP LTD       - Singapore's Keppel Corp, the world's biggest oil rig maker, said on Friday its Brazil unit FELS Brasil S/A has secured two contracts worth a total of about $950 million from Petrobras-led consortiums Guara BV and Tupi BV. |
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alexmay
Veteran |
10-Aug-2012 09:12
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so much switch to dyna-mac for topside contract?/ | ||||
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