ST Eng: Marine unit has received 2nd notice of termination from Louis Dreyfus Armateurs (LDA) to reiterate termination and demand refund of $129.0m plus interest.
ST Marine has in turn issued a letter to LDA stating that its contract termination is a breach and that ST Marine is terminating the contract on the basis of LDA's breach.
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ST Engineering
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ST Engg
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bishan22
Elite |
30-Mar-2011 14:40
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Doing some catching up today. 
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krisluke
Supreme |
30-Mar-2011 00:23
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Singapore and Indian Armies Conduct Armour ExerciseMinistry of DefenceThe Singapore Armed Forces (SAF) and the Indian Army conducted the seventh bilateral armour exercise, codenamed Exercise Bold Kurukshetra, from 1 to 29 Mar 2011. Held at the Babina Field Firing Range in central India, more than 700 soldiers from Headquarters 4th Singapore Armoured Brigade, 42nd Battalion, Singapore Armoured Regiment and 38th Battalion, Singapore Combat Engineers, as well as the Indian Army's 34th Armoured Brigade, 12th Mechanised Infantry Regiment and 15th Armoured Regiment, participated in this year's exercise. During the exercise, the two armies conducted joint planning and training, and executed an integrated live-firing involving the SAF's BIONIX 1 Infantry Fighting Vehicle and Mortar Track Carrier, as well as the Indian Army's BMP-2 Infantry Fighting Vehicle and T-90 Main Battle Tank. Chief Armour Officer, Colonel Benedict Lim and the Indian Army's 21 Corps Commander, Lieutenant-General Sanjiv Langer, witnessed the live-firing and met with the SAF and Indian Army troops as part of their visits to the exercise. Exercise Bold Kurukshetra is held annually and underscores the warm defence ties between Singapore and India. Aside from joint exercises, the SAF and the Indian Armed Forces also interact regularly through visits, courses, seminars and other professional exchanges. |
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krisluke
Supreme |
29-Mar-2011 23:51
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Break my TA downtrend lines today, but volume is light. Maybe some window dressing for month end... more upside, got to violate this down trend line.
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KiLrOy
Master |
28-Mar-2011 00:35
Yells: "I buy only what I can see." |
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its a down trend since Dec 2010 to Mar 2011.. but money still can be made. - there are people believing that if the stock price bouced twice off the support 3.12 (10 FEB & 17 MAR), it means the support is good and its bullish. - you can also play two ranges but do watch the bigger picture range01, 3.12 - 3.30. range02 3.12 - 3.45 - if you want a bullish trend, than it has to breaks 3.30 else stuck in range or continue downtrend. |
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krisluke
Supreme |
27-Mar-2011 18:26
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Air craft war fare liao, let's hope got some air contract. But TA looks bad (my view). Resistance at $3.20... this counter alredi broke down from TA triangle... |
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Sporeguy
Elite |
26-Mar-2011 11:31
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Noted that the price shows lower low ($3.12 on 11/02/11 cf $3.11 on 17/03/11) but RSI and MACD end up higher low. Moreover Bullish Abandoned Baby Pattern (called by own term as Southern Cross) formed on 17/03/11, so accumulate at $3.12 again on 17/03/11. | ||
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jamesng
Veteran |
26-Mar-2011 00:56
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perhaps will reach 2.9 when it pay dividend soon......haha :) | ||
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krisluke
Supreme |
25-Mar-2011 19:07
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ST Eng |
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krisluke
Supreme |
22-Mar-2011 23:23
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I would like to reiterate a buy at sgd 2.9x. I mean the " so call " cash cow marine is now facing a fierce competition from external force, not only within the director long table. 
Think twice, some thingy MUST be COOKing within the 85-90 percentage foreign talents upgrade communities, i mean pr/ newly singaporean .
navy ship from mindef ? I think is unlikely for marine... BUDGET LEH... RSAF !! OH YEAH, I'm quite optimistic on aircraft engine technology thingy
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bsiong
Supreme |
21-Mar-2011 12:02
Yells: "The Greatest Wealth is Health" |
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ST Engineering (S63.SG) is flat at $3.12 (vs STI +0.9%) after its marine arm says Louis Dreyfus Armateurs terminated a shipbuilding contract worth S$179 million, alleging a vessel delivery delay and a deadweight capacity deficiency. RBS says “although the company is saying that they expect no material impact on the EPS, we believe the negative impact on sentiment may be significant,” though it notes “the longer-term impact is limited.” It maintains its Buy rating. It says the total milestone plus damage claims against ST Marine could amount to $150 million - equivalent to 24% of 2011 pretax profit, while it may also influence future contracts as “delays damage reputation.” But it adds, “the relatively good news is that the contract termination value is worth only 1.3% of orderbook and 1.6% of market cap. ST Marine's future contracts may be affected, but the earnings impact will be limited” as ST Marine accounts for less than 20% of pretax profit and most of its contracts are with “captive customer” Singapore's Ministry of Defense. /theedge/ |
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krisluke
Supreme |
21-Mar-2011 11:12
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ST Eng: Has received notice of termination from Louis Dreyfus Armateurs (LDA) for shipbuilding contract of a passenger ferry contracted in Jul 2007 for total price of S$179.0m. LDA alleges that there is a delay and even if tendered for delivery, there will be a deficiency of the ferry capacity. ST Eng will be req to refund milestone payments of $129.0m plus interest and the liability for damages is capped at 10% ($17.9m) of contract price. Co has referred this case to its legal advisers. UBS issues a note maintaining Neutral with TP$3.36. House expects profit recognized to be reversed (est 5.5% of 2011 net profit) but could still sell the vessel to a 3rd party. |
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jamesng
Veteran |
19-Mar-2011 12:46
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I think you are wrong....but why you are in a thread where the company has no direction? Why waste your time???? > > sometimes, one mindset has to be change to pace the society. how can doing commerical > > and government project be thingyly linked up? is like multiple tasks for a goal ($) with no > > clear direction indicated. |
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krisluke
Supreme |
19-Mar-2011 11:13
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ipo first day trading closed at $1.35. i think price at $2.9x is a upside thingy.
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krisluke
Supreme |
19-Mar-2011 11:09
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sometimes, one mindset has to be change to pace the society. how can doing commerical and government project be thingyly linked up? is like multiple tasks for a goal ($) with no clear direction indicated. | ||
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dc16888
Senior |
18-Mar-2011 16:07
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pay a bit more next week also better than hold over weekend.
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New123
Elite |
18-Mar-2011 15:56
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Can buy below $3.10? | ||
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Sporeguy
Elite |
18-Mar-2011 15:41
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ST Eng price of 3.11 on 17/03 is lower than the last low of 3.12 on 11/02 but its RSI gone from a low of 22% to higher low of 32%. Its prices range from 3.01 to 3.50 for a year, but mostly around 3.10 to 3.40. | ||
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alexchia01
Elite |
07-Mar-2011 22:25
Yells: "Catch The Stars And Ride With Them" |
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ST Engg is like a roller-coaster ride. Big Ups and Downs. Quite obverse it's in a down trend channel. Better don't touch for now.
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krisluke
Supreme |
07-Mar-2011 20:57
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The strongest arm(areospace) was almost dead. Electronic sectors only got involve in the railway project from china, I heard midas got some dispute with china authorities. As for the " so- called" cash cow marine sector.... Suck!!! mostly are make of NTS workers which dominated 75-80% of the total work force. The land sector was not attractive either, the most recently one at boon lay already cost the group to write off some of the net profits. Revenue prospect is still to be seem. I mention before, one veri powerful BBs always bot Steng shares, but recently had been veri veri inactive. think commodities spike and oil spike would shy mindef to pump in more $$$. Budget would be expand and hurts country economy growth... I do agree that if singapore activate joint land, sea, air exercise oversea more regularly, it might benefit this group one good example of such glamourous scence would be national day parade.
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jamesng
Veteran |
07-Mar-2011 20:30
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Do you know how many % commercial and how many % from saf, singapore........it seems you are living in the year before 2000...... | ||
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