|
|
|||||||
| Coffee Shop Talk of a non sexual Nature Visit Sam's Alfresco Heaven. Singapore's best Alfresco Coffee Experience! If you're up to your ears with all this Sex Talk and would like to take a break from it all to discuss other interesting aspects of life in Singapore, pop over and join in the fun. |
 |
|
|
Thread Tools |
|
#1
16-06-2015, 08:40 AM
|
|||
|
|||
Sembcorp Marine’s major customer close to receiving financing
An honorable member of the Coffee Shop Has Just Posted the Following:
SINGAPORE (June 15): Bloomberg has reported that Sete Brasil, a major customer of Sembcorp Marine (Financial Dashboard), could be close to receiving up to US$5 billion ($6.7 billion) of financing with Petrobras’ board and banks’ directors providing some US$4 billion. Petrobras owns 10% of Sete Brasil. The financing would be for its scaled-down newbuild programme which involve seven drillship orders with Sembcorp Marine, six semi-submersible rigs with Keppel Corp ( Financial Dashboard) and two drillships with Brazil-based Rio Grande. The two local rigbuilders have had a dearth of orders this year on the back of competition from the Chinese yards and the collapse of crude oil prices. However, Sembcorp Marine has signed a letter of intent for a semi-submersible crane vessel. If this is converted into a firm contract, it could be worth around US$1 billion, analysts say. “We expect the eventual resolution of Sete Brasil’s funding issues to remove a share price overhang on the stock since late-2014. This is a potential near-term price catalyst,” states a Nomura report dated June 12. “We also expect the market to be surprised by stronger h-on-h order wins in 2HFY2015, with the conversion of the letter of intent for the semi-submersible crane vessel into a firm contract, and orders for offshore production units. We might even see the trickling of drillship orders by end-2015F,” the report adds. Nomura reckons that the market has underestimated Sembcorp Marine’s ability to generate reasonable profits from the drillship projects in Brazil and estimates that the average operating profit margins for the seven drillships to be 7%. Nomura is forecasting a net profit of $588 million for this year, 5% y-o-y, and an 11.2% growth in net profit for next year to $654 million, and a price target of $4.04. Sembcorp Marine is down 2 cents at $2.91 as at 9:37 a.m. http://www.theedgemarkets.com/sg/art...ving-financing Click here to view the whole thread at www.sammyboy.com. 
|
| Advert Space Available |
|
|
| Bookmarks |
| Thread Tools | |
|
|
