Gerard Low Shao Khang has been appointed CFO wef Feb 15
Work experience: Owner/managing partner, Berioza Associates; group CFO/ED, Delifrance Asia group
Posts Tagged ‘rickmers’
Rickmers Trust Management – Corporate moves
January 20th, 2011 |
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Dec 28: Keppel Corp, SGX, Think Environmental, Rickmers Maritime
December 28th, 2010 |
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Singapore shares may fall slightly on Tuesday after Tokyo’s Nikkei share average opened 0.25% lower. Wall Street erased earlier losses and ended little changed overnight as investors shrugged off a surprise weekend interest rate hike by China’s central bank.
Singapore’s benchmark Straits Times Index <.FTSTI> rose 0.49% on Monday to 3,159.36 points. Here are some stocks and factors to watch:
Keppel Corp (KPLM.SI), the world’s biggest rig maker, may be in focus after it said late on Monday its offshore and marine unit had won contracts worth $240 million.
Rickmers Maritime Trust to distribute 3Q DPU of 0.57 US cents
November 12th, 2010 |
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Rickmers Maritime Trust says it will distribute 0.57 US cents (0.74 cents) per unit to unitholders for the third quarter and nine months ended 30 September 2010 (3Q2010), the same DPU as in 2Q2010.
The declared distribution, representing a payout of 13% of income available for distribution, will be paid to unitholders on 15 December 2010.
For 3Q, charter revenue remained stable at US$36.7 million, supported by the long-term, fixed-rate charters attached to 15 of the 16 vessels in Rickmers Maritime’s portfolio.
The slight year-on-year decline from the US$38.1 million reported in 3Q2009 was due to a smaller contribution from the 5,060-TEU containership Kaethe C. Rickmers.
Income available for distribution remained healthy at US$18.3 million in 3Q2010, against US$19.2 million in the corresponding period a year ago.
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Oct 4: Ascott Residence Trust, Rickmers Maritime, Singapore Exchange
October 4th, 2010 |
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Singapore shares may open higher on Monday after Wall Street extended its rally, led by gains in resource stocks following data in China that showed a pick-up in manufacturing activity. Singapore’s benchmark Straits Times Index <.FTSTI> rose 1.07% on Friday to close at 3,130.90 points.
The Dow Jones industrial average <.DJI> was up 0.39% at 10,829.68. The Standard & Poor’s 500 Index <.SPX> gained 0.44% at 1,146.24. The Nasdaq Composite Index <.IXIC> finished 0.09% higher to close at 2,370.75.
Rickmers Maritime rated ‘hold’ by DBS
August 19th, 2010 |
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DBS Vickers Securities in an Aug 16 research report says: “2Q10 net profit took a tumble to US$0.6 million, compared to US$5.4 million in 1Q10 and US$5.2 million in 2Q09. Revenues and operating cash flows continued to be stable, though, as the long-term contracts continued to perform as expected.
Rickmers Maritime gets $765m 5-year ship financing loan
August 11th, 2010 |
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Rickmers Maritime, a Singapore-based business which owns and operates containerships under fixed-rate charters, got a US$565 million ($765 million) term loan which matures in 2015, according to data compiled by Bloomberg.
Proceeds will be used for ship financing and lead arrangers include DnB Nor ASA and HSH Nordbank AG, the data show.
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Rickmers Maritime upgraded to hold
April 28th, 2010 |
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DBS Vickers Securities in an April 27 research report says: “RMT is required to pay US$64 million penalty to parent Rickmers Group to free itself of orderbook obligations. Lender banks have agreed to convert the US$130 million top-up facility to a 5-year amortising loan and waive value-to-loan covenants for a period of 3 years.
Rickmers Maritime to pay out 1Q DPU of 0.57 US cents
April 26th, 2010 |
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Rickmers Maritime says it will distribute 0.57 US cents (0.78 cents) per unit to unitholders for the first quarter ended 31 March 2010 (1Q2010) on 25 May 2010. The DPU represents 13% of income available for distribution which fell 8% to US$17.93 million.
Rickmers up 6.3%; eyes on 1Q10 results, guidance
April 26th, 2010 |
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Rickmers Maritime Trust (B1ZU.SG) is up 6.3% at almost six-week high of 42 cents in active trade as confidence returns after vessel owner allays concerns over ability to meet debt, capex obligations, according to Dow Jones.
Rickmers up 6.3% on debt, capex reprieve
April 26th, 2010 |
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Rickmers Maritime Trust (B1ZU.SG) is up 6.3% to 42 cents likely to rise on relief of financial pressure as vessel owner extends maturity of US$130 million ($178 million) loan, due this month, by five years, secures waiver for up to three years of loan covenants tied to value of its assets, reports Dow Jones.
Yangzijiang says not hit by Rickmers Maritime (corrected story from March 24)
March 26th, 2010 |
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Yangzijiang Shipbuilding Holdings, the China-based shipbuilder, said it is “not affected” by financial difficulties at Rickmers Maritime Singapore as ships ordered by Rickmers’ German parent haven’t been cancelled, reported Bloomberg.
March 24: Keppel, Hock Lian Seng, China Hu An, Rickmers Maritime, Wee Hur
March 24th, 2010 |
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Singapore’s Straits Times Index increased 0.6% to 2,905.66 at the close yesterday. Shares on the measure trade at 15.2 times estimated earnings, compared with about 17.5 times at the start of 2010. Stocks are set to gain on Wednesday, as US shares rallied last night on data suggesting the troubled US housing market is near the bottom of the cycle. Here are a few stocks and factor to watch today, says The Edge Singapore:
Rickmers Maritime charters out Kaethe C. Rickmers
March 23rd, 2010 |
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Rickmers Maritime trust says it has chartered out M.V. Kaethe C. Rickmers, a 5,060 TEU containership, on a 12-month fixed-rate time-charter to Chilean carrier, Compañía Sudamericana de Vapores (CSAV). The charter is expected to start before the end of March, immediately after the vessel’s first scheduled dry-docking.
Rickmers sinks to record low on debt concerns
March 23rd, 2010 |
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Rickmers Maritime Trust (B1ZU.SG) gaps down at opening, last off 24.4% at $0.31 on strong volume after slumping to all-time low of $0.265 in early trade, on concerns over vessel owner’s ability to meet financial obligations, reported Dow Jones Newswires.
Limited Rickmers Maritime payout visibility, says DBS Vickers
February 9th, 2010 |
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Visibility on Rickmers Maritime Trust’s (B1ZU.SG) future distribution payouts remains extremely limited as vessel owner’s debt problems look unlikely to be resolved any time soon, says DBS Vickers.
The broker cites significant near-term liquidity risk as Rickmers Maritime Trust has US$130 million ($185 million) loan due in April which company still struggling to refinance.
Rickmers Maritime gains 4.1% but debt solution may cost investors, says OCBC
February 9th, 2010 |
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Rickmers Maritime Trust (B1ZU.SG) gained 4.1% to 38.5 cents following improvement in core 4Q09 operations, although thin volume suggests investors generally still wary of company’s financial health, considering maturity of US$130 million ($185 million) loan in April which Rickmers hasn’t been able to refinance as yet.
“While it is quite possible that RMT manages to resolve its debt and order book concerns, we continue to believe such a resolution may come at the expense of unit holders’ interests, for instance if RMT raises funds through a dilutive private placement,” says OCBC Investment Research, which has a “sell” call with 18 cents target.
Feb 9: SingTel, China Animal Healthcare, Rickmers, Keppel, ASL Marine, Longcheer, Cerebos, Boustead
February 9th, 2010 |
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Singapore’s benchmark Straits Times Index (.FTSTI) rose 0.37% to close at 2,693.62 points yesterday. The Dow Industrials closed below 10,000 for the first time since November last night as investors sold bank shares due to heightened concerns about the euzo zone’s sovereign debt troubles. The following stocks may see unusual trading volume today.
SingTel (STEL.SI), Southeast Asia’s biggest telecoms firm, reported an 18% rise in quarterly profit, roughly in line with market expectations and driven by strong growth in regional mobile customers.
Rickmers Maritime posts 112% rise in 4Q net profit to $21.7m
February 8th, 2010 |
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Shipping trust Rickmers Maritime says for the quarter ended 31 December 2009 (4Q2009), charter revenue registered an improvement of 29% to US$38.13 million ($54.2 million), compared with US$29.56 million for the same period last year.
Rickmers Maritime will distribute 0.57 US cents per unit for 4Q2009, representing a payout of 14% of income available for distribution. Total distribution for the year will amount to US$16.57 million, which represents 22% of income available for distribution.