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Swiber
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Peter_Pan
Supreme |
19-Dec-2012 10:42
Yells: "did you order dunkin' donuts" |
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Accumulation of this stocks by BBs at the moment. Watch. | ||
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Peter_Pan
Supreme |
19-Dec-2012 07:43
Yells: "did you order dunkin' donuts" |
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Going next leg up* | ||
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steadylar
Veteran |
17-Dec-2012 13:31
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Dividends 1 ct, XD Wed 26 Dec, will credit to us on 18 Jan. | ||
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steadylar
Veteran |
17-Dec-2012 13:28
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Swiber very undervalued, stay invested, one by one the sleeping stks begin to wake up, hope this one will awake too. |
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Peter_Pan
Supreme |
09-Dec-2012 19:37
Yells: "did you order dunkin' donuts" |
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Don't miss the boat woh..
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FearValueGreed
Master |
09-Dec-2012 14:46
Yells: "Long Term Timing X Capital = Well Deserved Payout" |
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Dun believe this one as its heydays are over. Dividends means u just hv to see if the yield is worth the stock price to pay. | ||
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Peter_Pan
Supreme |
08-Dec-2012 14:40
Yells: "did you order dunkin' donuts" |
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Swiber could be due for a re-rating given its growing orderbook traction. Early success shown in strong order wins. We have seen early successes from strong contract wins this year. Net orderbook reached a historical high of USD1.6b in 2Q12 although it has come down slightly to USD1.4b in 3Q12. 2012 has been a bountiful year for Swiber in terms of order wins, with YTD contracts secured in excess of USD1.7b, significantly higher than the USD733m secured for the preceding year. Importantly, management expects the bidding environment in 2013 to be even better than 2012. Majority of the current outstanding orderbook should be recognised within the next 2 years. Contract wins and execution will be positive catalysts. Indications that would support our prognosis on Swiber’s prospect would first come in the form of more contract wins in 2013. Secondly, we also expect improvements in margins, which would signal that Swiber is indeed reaping greater efficiencies from the benefits of a bigger owned-fleet. These are two key signs which we believe would trigger positive stock price response. Limited downside at current valuations, initiate with BUY. Swiber is trading at FY13F PER of only 5.8x, below its mean forward PER of 10.8x and below Singapore-listed small caps O& M peer average of 8.0x. Additionally, it is also trading at only 0.6x P/B. We see earnings growing at a CAGR of 18% for FY12-14F, from a strong string of contract wins. While concerns on gearing and funding could be overhangs, we see limited downside at current low valuations. Initiate with BUY and target price of SGD0.82, pegged at 8x peer average PER. Valuations is also supported by our RNAV valuation of its assets which yields a value of SGD1.11 per share. Swiber to benefit from growth in Asia-Pacific region. While onshore spending would account for the largest share of total capex, offshore capex growth is expected to outpace that of onshore capex. As evident in the following chart, the Asia-Pacific region is a key source of growth for offshore spending, and is a key contributor to global offshore capex growth. The Middle East is also expected to be the main growth region in terms of total spending. Swiber’s existing presences in these regions place it in a strong position to benefit from this growth. Sector consolidation, Swiber a potential M& A target. The industry has seen several consolidations in recent years, the more prominent being that between Subsea 7 and Acergy, Technip and Global Industries, and SapuraCrest and Kencana. The potential of Swiber being acquired or merging with another player to enhance each other’s competitiveness is entirely plausible. With its below-book valuations and funding needs, we think that Swiber makes a good case as a potential M& A target. Maybank Kim Eng |
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Peter_Pan
Supreme |
07-Dec-2012 13:18
Yells: "did you order dunkin' donuts" |
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Don't Miss The Boat Woh... | ||
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Peter_Pan
Supreme |
07-Dec-2012 12:41
Yells: "did you order dunkin' donuts" |
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Maybank starts Swiber with 'buy', target S$0.82 | ||
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Peter_Pan
Supreme |
07-Dec-2012 12:40
Yells: "did you order dunkin' donuts" |
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More contracts to be awarded. | ||
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Peter_Pan
Supreme |
07-Dec-2012 10:28
Yells: "did you order dunkin' donuts" |
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Maybank Kim Eng said robust activities in rig-building would filter down the value chain and it is time to start looking at the smaller offshore support services companies, many of which are trading at single-digit price-earnings ratios. Maybank’s top pick is Ezion Holdings due to the company’s expected earnings per share compound annual growth rate of 36 percent over the next three years. |
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srichipan
Master |
05-Dec-2012 23:18
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Heard it's a laggard counter, meaning it could start its rally very soon. used to be priced at more than $2 few years back. I think could gain quite alot due to dividends. but this one fundamental good? | ||
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Peter_Pan
Supreme |
05-Dec-2012 21:38
Yells: "did you order dunkin' donuts" |
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Maybank Kim Eng said robust activities in rig-building would filter down the value chain and it is time to start looking at the smaller offshore support services companies, many of which are trading at single-digit price-earnings ratios. Maybank’s top pick is Ezion Holdings due to the company’s expected earnings per share compound annual growth rate of 36 percent over the next three years. |
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Peter_Pan
Supreme |
05-Dec-2012 14:36
Yells: "did you order dunkin' donuts" |
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10:14 STOCKS NEWS SINGAPORE- Maybank starts Swiber with 'buy', target S$0.82 Maybank Kim Eng initiated its coverage of offshore services firm Swiber Holdings Ltd S$0.82 target price, citing the stock's low valuations and limited downside. Swiber shares were up 4.2 percent at S$0.62 on Wednesday. The shares have risen 16 percent so far this year versus the 23 percent gain in the FT ST Small Cap Index < .FTFSTS> . Maybank expects Swiber's earnings per share to grow at a compound annual growth rate of 18 percent over 2012-2014 fiscal years, supported by the recognition of its $1.4 billion offshore construction order book and contract win momentum. Swiber's fleet size increased from 10 vessels in 2006 to more than 50 currently, allowing it to handle more sophisticated jobs, depend less on third-party vessels and have greater flexibilities in fleet deployment, Maybank said. The broker added that Swiber stock is a relative " laggard" , trading at a price-earnings ratio of 5.8 times for 2013 fiscal year and a price-to-book of 0.6 times. But it noted there might be an overhang from high gearing and cash needs. 1005 (0205 GMT) (Reporting by Eveline Danubrata in Singapore Editing by Jijo Jacob eveline.danubrata@thomsonreuters.com) |
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inference
Member |
26-Nov-2012 22:20
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The dividend is definitely a good sign. Sherwood's comment that the " margins are very thin" is way off. If you look at the latest 3Q results, you can see for yourself that their gross margin is > 15%. Link here: http://swiber.listedcompany.com/newsroom/20121114_060206_AK3_AB35B362CC26A66D48257AB0002AC399.3.pdf |
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sherwood
Member |
17-Nov-2012 09:29
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Dividends are good if the company is making money. This company is struggling as their margins are very thin. I see this stock going down to the early .50 s | ||
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freeman_5js
Senior |
14-Nov-2012 21:22
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well finally an issue of dividend, be it as little as 0.01. Better den nothing. well bravo SWIBER ! ur finally following wht other listed co. r doing | ||
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halleluyah
Elite |
14-Nov-2012 16:49
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ya, 0.01/share. ex-date 28/12/12
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freeman_5js
Senior |
14-Nov-2012 16:15
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looks like they r issuing dividend, am i correct? | ||
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FearValueGreed
Master |
06-Nov-2012 13:11
Yells: "Long Term Timing X Capital = Well Deserved Payout" |
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dun blame the coy. this was once a high flying stock but came crushing down as it has past it high growth phase. Mr ezion will also be like that like one day. just like Ezra.
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