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STXOSV
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wah1079
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17-May-2012 14:41
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no, didn't manage to catch it at 1.70 Sighzzzzz nw 1 big hole in pocket |
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susan66
Master |
17-May-2012 14:22
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STX Pan Ocean - Major earnings cuts Target S$1.45 (Long Term: Under Perform) Although 1Q12 core earnings were below expectations, earnings should be healthier for the rest of 2012, as margins recover with management's keen focus on profitability. That said, we believe our earlier margin assumptions were too aggressive, and have adjusted them. Our FY12-14 earnings drop by 5-11% accordingly. We also switch our target to 8x CY13 P/E (5-year average) from 1.6x P/BV as earnings are recovering. Maintain Neutral. Can it be affected by the above news? | ||||
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Sgshares
Elite |
17-May-2012 14:19
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did u sell this morning when hit $1.7?
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wah1079
Member |
17-May-2012 14:18
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Oh no......what happen? Such drastic drop...... |
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rotijai
Supreme |
17-May-2012 14:17
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careful guys.. better dont do anything if not vested not earning is better than losing
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Sgshares
Elite |
17-May-2012 14:16
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say bye | ||||
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win_88
Member |
17-May-2012 14:15
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wah..bad news???? | ||||
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cdodkny
Member |
17-May-2012 14:05
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dropped to 1.63 | ||||
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wangerism
Veteran |
17-May-2012 12:52
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touched 1.7 and dropped back down...sign of weakness... |
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irvvvv
Member |
17-May-2012 11:34
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congrats to those who bought at 1.4X and those who still held on after exdiv.. hohoho | ||||
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wah1079
Member |
17-May-2012 11:20
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oic tks for the explaination Ruth | ||||
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rutheone1905
Veteran |
17-May-2012 11:09
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1) if we know it is a delist case, then we only worried one thing, the price the bidder offer, simple. 2) if the Korean sells to the bidder n bidder does not delist, then it is different story. in case 1, the bidder will offer a good price to ensure as many, if not all the shareholders to let go their holding which u can refer to historical high price, i.e. 1.8?? in case 2, the bidder just buy over from the major shareholders to acquire certain % of control. then the price maybe way below u expected i.e. $2 so all in all, it is still a gamble of guts to hold or to sell. if it Trade Halt, prior to release of final decision then it is just too late to response, though still can lar. so ppl will still sell, where more still will buy. |
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wah1079
Member |
17-May-2012 11:00
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Hi Ruth care to explain more? Sorry im a newbie dun quite understand |
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rutheone1905
Veteran |
17-May-2012 10:57
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when u see ppl selling instead of buying, dont think they r stupid.......... there is a big difference between " buy n delist" & " buy" . so stay vigilant, esp u r buying above let say 1.65 |
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rutheone1905
Veteran |
17-May-2012 10:53
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wait for Trading Halt usually. | ||||
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wah1079
Member |
17-May-2012 10:35
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Any idea when will they release the result? | ||||
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littleboi
Member |
17-May-2012 09:47
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we don't need drink starbucks liao...let's go for redwine :D
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yiming2000
Senior |
16-May-2012 22:48
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Wow! SGX 44 points down and STXOSV is still hanging in at 1.64. This shows lots of buying inspite of market weakness. New buyers must be rushing in for target price of $2.00 that they expect potential buyer will offer. 
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tglim74
Member |
16-May-2012 16:26
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Copy the comments and postings from our friends at the Kep Corp discussion group: STX OSV to name preferred bidder soon. Quoting a South Korean business news website (MK Business News), Upstream reported that STX Group will soon reveal the preferred bidder for its 50.8% stake in STX OSV. Among the potential candidates are a consortium consisting of Fincantieri, a state-owned Italian shipbuilder, with US private-equity firm, Carlyle Group, and Singapore’s Keppel Corp. Note that in January 2012, Both Keppel Corp and SembCorp Marine clarified that they are ‘currently not making a bid for a stake in STX OSV’. STX OSV a strong value proposition to potential buyers. To recap, STX is the largest builder of AHTS of > 20,000 BHP and PSVs of > 4,500 DWT, with a global market share of 30.8% and 18.0% respectively. It operates from a network of nine shipyards in Norway (5), Romania (2), and 1 each in Brazil and Vietnam. The group is building on its leading 45% market share in Brazil with the development of a second yard, to commence operations in 2013. Once in full operation, STX will be able to deliver 6-7 larger vessels a year, boosting its Brazilian capacity by 3.3-4x. With a strong presence and expansion plan in Brazil, STX OSV is among the prime beneficiaries of Petrobras plan to expand its offshore support vessel fleet by 66% in the next 5 years. Maintain BUY on STX OSV, the stock has retraced by 12% from recent highs. A confirmed bid will benefit minorities, as the purchase is likely to trigger a takeover offer. Our target price of S$2.00 for STX OSV is pegged to 11x blended FY12/13F PE. If true, acquisition likely to be positive for KEP. Given that KEP had earlier indicated no interest in the bid, it is unlikely that KEP will have a change of heart, unless it is a sweet deal. In the event KEP emerges as the winner for the stake, we envisage several benefits for Keppel. a) Moving UP the value chain. STX OSV will push it up the value chain for large, advanced OSVs while strengthening KEP’s leading global positioning in the offshore engineering space. It is now the king in jack-ups with an estimated 40% market share and 20% market share in semi-submersibles. b) Boost to group order book. STX OSV has been building up its order book, now at NOK18.0bn (S$3.8bn), translating to a healthy book-to-bill ratio of 1.6x. With an orderbook of S$14bn (including LOIs), KEP's book-to-bill ratio is already at a record 2.7x! c) Likely to be an earnings accretive deal. The deal is likely to be accretive, given that STX is trading at 8x PE vs. KEP's 11x. Assuming KEP does not overpay for the STX deal, our back-of-the-envelope estimates indicate the acquisition could be earnings accretive for KEP, adding c. S $100m to FY13F, or ~5.8%. This assumes KEP acquires 100% of STX OSV at our target price of $2/share, and funding this entirely with debt at 4%. Maintain BUY on KEP, TP $13.20.
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sgnewbie
Master |
16-May-2012 15:26
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http://sgxreports.blogspot.com/2012/05/stx-osv.html | ||||
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