Kim Eng Research in a Nov 24 research report says: “Revenue from the marine division plunged by 58.3% y-o-y to US$4.4 million in 3Q10 as five vessels were dry-docked for major overhaul and equipment upgrade to take advantage of the current lull period. The oilfield projects division was the only bright spot, scoring a remarkable 378.4% jump in revenue to US$4.6 million.
Posts Tagged ‘Falcon’
Falcon Energy target cut to 60 cents by Kim Eng
November 24th, 2010 |
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Kim Eng Securities cuts Falcon Energy (5FL.SG) target to $0.60 vs $0.85, pegged at 10x FY11 P/E, after lowering FY10-FY12 EPS estimates by 20%-40% to reflect weaker-than-expected 3Q10 performance.
3Q10 earnings down 57.2% on-year at US$2.8 million ($3.7 million) due to dry-docking of 5 vessels for major overhaul, lower vessel charter and utilization rates.
Still, keeps Buy call on valuation grounds; “despite maintaining a cautious near-term outlook, management is optimistic of a gradual recovery of the marine and offshore industry by 2Q11.”
Shares +1.2% at $0.425.
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Falcon Energy proposes warrants issue to raise up to $81.2m
September 24th, 2010 |
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Falcon Energy Group is proposing a renounceable non-underwritten rights issue of warrants to shareholders of up to 162,826,994 warrants at an issue price of $0.10 each, on the basis of one warrant for every five existing ordinary shares held.
Each warrant carries the right to subscribe for one new share at the exercise price of $0.40 and has an exercise period of three years.
20 Badass Famous Last Words
July 27th, 2010 |
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Some of the grandest, most controversial men in history have ended their lives with a poignant, biting farewell. Some laugh at death, others laugh at their killers, still others offer a culminating statement of wisdom. These colorful individuals ensured their fateful last words eloquently summarized their existences. 1. Augustus, AD 14Caesar Augustus was the first ruler [...]
Japan’s space programme: A blaze of glory
June 17th, 2010 |
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The Japanese chalk up two successes in space
THE week before last, a falcon was launched into space: Elon Musk’s privately financed Falcon 9 heavy-lifting rocket. This week a different falcon returned from the void. On June 13th Hayabusa, as the bird is known in Japanese, streaked through the night sky of southern Australia to deliver to Earth what researchers hope will be the first sample of rock collected from the surface of an asteroid.
As the picture suggests, most of the craft burned up on re-entry. But a small part, protected by a heat shield made of carbon-phenolic resin, survived and landed in the desert near Woomera. This capsule, it is hoped, will contain material from Itokawa, a half-kilometre-long asteroid whose orbit crosses the Earth’s. …
Space: Feathering the Falcon’s nest
June 10th, 2010 |
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Falcon 9, a private space rocket that might eventually carry people into orbit, has just passed its first test
ELON MUSK is not, to paraphrase James Watson’s bon mot about Francis Crick, a man given to modest moods. That is a useful quality in an entrepreneur whom financial nemesis has, on occasion, stared in the face. But this week, though he is by his own admission relying on loans from his friends to cover his day-to-day expenses while details of his divorce are worked out, he might be forgiven a little hubris.
The co-founder of PayPal, and developer of the Tesla, the first modern electric sports car, has long wanted to get into the space business as well. Now he has. The launch into orbit from Cape Canaveral, on June 4th, of a test capsule carried by a Falcon 9 rocket built by his company SpaceX, is a turning-point in the development of private space flight. Though the industry’s coming of age is still some way in the future, this launch marks its transition from childhood to adolescence. …
SpaceX Falcon 9 Rocket Blasts Off for First Test Space Flight
June 5th, 2010 |
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A possible replacement for the space shuttle, SpaceX’s $100 million investment, the Falcon 9 cargo rocket, faces a critical moment with a test launch. – The Falcon 9 rocket, built by aerospace technology company SpaceX, blasted
off on its first test flight June 4, continuing the company’s push to create
private vehicles that someday could take passengers and cargo beyond
Earth’s boundaries.
The rocket reached orbit in about 9 minutes.
The F…
Falcon Energy posts 87% rise in net profit to $11.2m for first quarter
May 13th, 2010 |
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Falcon Energy Group has announced a net profit after tax and non-controlling interest of US$8.1 million ($11.2 million) for the three months to 31 March 2010, up 87% over the US$4.3 million it achieved for the previous corresponding period.
Falcon Energy initiated a ‘buy’ by Kim Eng with 99 cents target
April 12th, 2010 |
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Kim Eng Securities starts Falcon Energy Group (5FL.SG) at “buy” with 99 cents target price, pegged at 11x FY11 P/E. Expects earnings to double by FY12 from US$28.1 million ($39 million) profit in FY09 as company expands its fleet, embarks on new oilfield projects in Middle East.
Falcon Energy shareholders approve acquisition of CH Offshore
March 29th, 2010 |
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Falcon Energy Group says its proposed acquisition of up to 205 million ordinary shares in the issued and paid-up share capital of CH Offshore from Scomi Marine Services for $143.5 million was approved by shareholders at the Extraordinary General Meeting (EGM) held earlier today.
Falcon Energy Group, ‘increase exposure’ call by SIAS
March 8th, 2010 |
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SIAS Research in a Mar 5 research report says: “Falcon’s performance deviated significantly from our expectations, with FY2009 revenue surpassing our forecast of US$76.8 million by 16.2% and profit for the year below our prediction of US$32.8 million by 10.3%.
Falcon Energy Group posts net profit of $39.5m for FY09
March 1st, 2010 |
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Falcon Energy Group today announced a net profit after tax and minority interest of US$28.1 million ($39.5 million) for the full year ending 31 December 2009, compared to US$27.6 million it achieved for the adjusted 12 months to 31 December 2008.
Falcon Energy Group is a provider of integrated support services for the Offshore Marine and Oil & Gas industries, serving clients along the entire oil production cycle from initial exploration to production and post-production, with a specialist focus on the production phase of oilfield activities.
Scomi sells stake in CH Offshore to Falcon for $143.5m
February 5th, 2010 |
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Scomi Marine agreed to sell a 29.07% stake in CH Offshore to Falcon Energy Group for $143.5 million in cash, according to a filing with to the Malaysian stock exchange.
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Genial German wants Abu Dhabi crown back
January 13th, 2010 |
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Martin Kaymer is keen to reclaim the Falcon trophy he won at the 2008 Abu Dhabi Golf Championship when the competition gets under way in the capital next week. “Coming back to Abu Dhabi is always a fantastic experience as it holds great memories for me. It will always be the place I clinched my
Balloon Boy Hoax? Falcon Heene Outs Publicity Stunt? (â€Larry King Live†VIDEO)
October 16th, 2009 |
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As Yeezy would say: Yo Balloon Boy, I’ma let you finish…But Anne Frank had the best attic hideout spot of all time!
Um….Did Falcon Heene, the now infamous “kid in the runaway balloon,” just out his parents by admitting that today’s national emergency was just one big publicity stunt?
Falcon, who set off a massive search [...]
Balloon Boy Alive! Falcon Heene Found Safe In Attic
October 15th, 2009 |
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Falcon lives! Yay — we love happy endings.
The boy thought to have traveled thousands of feet in the air in a homemade balloon has been found alive, according to authorities. A massive search for the child was launched this afternoon after one of the boy’s brothers reported that he’d climbed into a homemade helium-filled balloon [...]
Balloon Boy Still Missing — Colorado Police Believe Basket Fell Off Balloon
October 15th, 2009 |
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A Colorado sheriff’s official says a 6-year-old boy climbed into a box that was attached to his father’s homemade balloon, but the box wasn’t found when the craft crashed in an open field early Thursday afternoon. The craft was airborne for more than two hours and sailed through two counties.
Falcon’s dad is a storm [...]
Balloon Boy Family On “Wife Swap†(Falcon Heene Mock Music VIDEO)
October 15th, 2009 |
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A homemade balloon that was thought to have been carrying a six-year-old Colorado boy thousands of feet in the air above The Rockies has landed — and little Falcon Heene wasn’t inside. The Denver Post is reporting that the boy got into the device at his family’s home in Fort Collins and that it then [...]