Sembcorp Industries (U96.SG) is likely to report a 36% on-year fall in 4Q net profit to $165.7 million as a cyclical downturn in the rig building industry hurt its 61%-owned unit Sembcorp Marine, according to nine analysts polled by Dow Jones.
Posts Tagged ‘Sembcorp’
Sembcorp Marine rated ‘neutral’ by DMG
January 20th, 2011 |
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DMG & Partners Securities in a Jan 17 research report says: “Sembcorp Marine (SMM) has won a shipbuilding and three upgrading jobs valued at $215 million for various customers. We estimate that total outstanding orderbook climbed to $5.7 billion, with deliveries extending up to end 2013 and is 1.4x annualised FY10 revenue.
SembMarine off 1.5%; orders within expectations – DMG
January 20th, 2011 |
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SembCorp Marine (S51.SG) is down 1.5% at $5.27 despite announcing that Atwood Oceanics has exercised the first of its three options to build a newbuild jackup rig with SMM’s PPL shipyard, worth $182 million.
Sembcorp Marine signs $233.5m contract
January 20th, 2011 |
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Singapore’s Sembcorp Marine (SCMN.SI), the world’s second largest rig builder, said on Thursday it has signed up to $182 million ($233.5 million) jack-up rig contract with a wholly-owned unit of Atwood Oceanics.
The rig is scheduled for delivery by the end of June 2013 and Sembcorp said the contract is not expected to have any material impact on the consolidated net tangible assets per share and earnings per share of the firm for the year ending December 2011.
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Singapore stocks lifted by Sembcorp Marine, eyes China GDP data
January 18th, 2011 |
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Singapore shares were slightly higher at the midday on Tuesday, led by rig-builder Sembcorp Marine (SCMN.SI) after it said it won upgrading and newbuild contracts.
By the midday break, the Straits Times Index (STI) <.FTSTI> was up 6.10 points at 3,244.79. The total value of shares traded in the morning session was $663 million, up slightly from $655.2 million on Monday.
Credit Suisse raises Keppel, Sembcorp Marine targets
January 14th, 2011 |
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Credit Suisse raises Keppel Corp’s (BN4.SG) target to $13.50 vs $12.10 and Sembcorp Marine (S51.SG) target to $6.20 vs S$5.80 as the brokerage remains Overweight on the offshore & marine sector.
It says market trends indicate that a new rig replacement cycle is possible and that newer generation rigs are increasingly required to enable conversion of more challenging reservoirs.
Dec 23: GLP, UOL, Financial One, Sembcorp Marine, Wilmar
December 23rd, 2010 |
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Singapore shares may open higher on Thursday after the S&P 500 rose overnight to its highest level since the collapse of Lehman Brothers, led by bank stocks that have leapfrogged other sectors in December.
The following companies may have unusual price changes in Singapore trading today, say Bloomberg and Thomson Reuters. Stock symbols are in parentheses, and share prices are from the previous close. Singapore’s Straits Times Index gained 0.1% to 3,144.31.
Sembcorp Marine up on US$400m order wins
December 22nd, 2010 |
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Shares of rig-maker Sembcorp Marine (SCMN.SI) rose as much as 2% after it won two contracts worth US$400 million ($525 million) from Noble Corporation (NE.N) to build two jackup rigs, with options for another four that could lift the total value to US$1.2 billion.
At 11:23 a.m., Sembcorp Marine shares were up 1.8% at $5.08 on a volume of 2.2 million shares, nearly 40% of its average traded volume in the last 30 days.
Sembcorp Industries rated ‘buy’ by Phillip Securities
December 21st, 2010 |
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Phillip Securities Research in a Dec 17 research report says: “We visited Sembcorp Industries’ key utilities facilities on Jurong Island. We believe that there is scope for further expansion, including the construction of another wastewater treatment plant, if more chemical and petrochemical companies build their facilities on Jurong Island.
SembCorp target raised to $5.70 from $5.20 by DBS Vickers
December 21st, 2010 |
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DBS Vickers raises SembCorp Industries (U96.SG) target price to $5.70 from $5.20 as the “core utilities and marine divisions are both revving up.”
The house says utilities are poised for more growth next year and beyond: “Apart from the first full year contribution from Cascal, which adds some 6% to utilities earnings, other new drivers include SembGas expansion by 26% (2011-12), and Salalah (Phase one in 3Q11; full completion in 2H12).”
Sembcorp started at Buy; $5.90 target
December 16th, 2010 |
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BNP Paribas starts Sembcorp Industries (U96.SG) at Buy with a $5.90 sum-of-the-parts target price.
Expects the stock’s performance to be driven by its unit SembMarine (S51.SG), which historically has a 90% price correlation with oil prices.
Says orders for SembMarine are likely to increase to $3.3 billion next year from the $1.25 billion trough in 2009, driven by a rig replacement cycle and better returns from its high-specification rigs.
SembMarine +0.6%; Recoups bulk of recent losses
December 6th, 2010 |
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Sembcorp Marine (S51.SG) inches closer to $5.00 level, +0.6% at $4.99, recouping bulk of losses over last 3 weeks triggered by concerns company may have priced itself out of race for lucrative rig-building contracts to be awarded by Petrobras.
Sembcorp Marine down on broker’s Petrobras report
November 26th, 2010 |
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Shares of rig builder Sembcorp Marine (SCMN.SI) fell as much as 5.4% on Friday after a broker published a research note that said the firm was likely end up empty handed in the battle to build rigs for Brazilian oil firm Petrobras.
At 0638 GMT, Sembcorp Marine shares were down 4.2% at $4.82 on a volume of 13.9 million shares.
Citi ups targets for Keppel, Sembcorp Industries
November 19th, 2010 |
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Citigroup has raised its target prices for rigbuilders Keppel Corp (KPLM.SI) and Sembcorp Industries (SCIL.SI) and kept its "buy" ratings on both firms.
Citi expects Keppel to hit $12.80, from a previous target of $11.10, while it says Sembcorp Industries can rise to $5.60 from $4.73.
Citi cuts Sembcorp Marine to “hold†from “buyâ€
November 19th, 2010 |
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Citigroup has downgraded Singapore’s Sembcorp Marine (SCMN.SI), the world’s second-largest rig-builder, to “hold” from “buy” but raised its target price to $5.60 from $4.60.
SembCorp Marine lowered to ‘Hold’ from ‘Buy’ at Citigroup
November 19th, 2010 |
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SembCorp Marine was lowered to “hold” from “buy” at Citigroup Inc., which said the valuations are less attractive after a strong rally. The brokerage raised the share-price estimate to $5.60 from $4.60, according to the report by analysts Horng Han Low and Si Xian Goh.
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SembMarine rig deal affirms rosy outlook: Analysts
November 16th, 2010 |
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SembCorp Marine (S51.SG) remains +0.4% at $4.97, after announcing US$195 million ($254 million) rig contract, says Dow Jones.
The modest gains in thin volume in line with peers Keppel (BN4.SG), flat at $10.70, SembCorp Industries (U96.SG), +0.6% at $4.87, as three stocks’ sharp run up since early October likely prices in rosier outlook for orders.
Sembcorp Marine’s unit wins $254m order to sell oil rig
November 16th, 2010 |
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Sembcorp Marine Corp. said its subsidiary signed a contract to sell a jack-up rig that is already in construction to Transocean for US$195 million ($254.2 million). The rig will be delivered in the fourth quarter of 2011, SembMarine said today in a statement to the stock exchange.
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STI may slip; Sembcorp, NOL, ST Engineering eyed
November 9th, 2010 |
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Pullback by DJIA, S&P 500 overnight may prompt investors to take profits on Singapore shares after yesterday’s strong run-up, which lifted STI to highest level since January 2008, +1.9% at 3,300.40.
Support for benchmark eyed at yesterday’s 3,257 intraday low. Local corporate earnings will continue to be in focus, with Sembcorp Industries (U96.SG), Armstrong Industrial (A14.SG) among latest to report results.
Nov 9: Sembcorp, ST Engineering, Cosco, Golden Agri, Keppel Land, OCBC: Updated
November 8th, 2010 |
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The following companies may have unusual price changes in Singapore trading today, say Bloomberg and Thomson Reuters. Share prices are from the previous close. Singapore’s Straits Times Index rose 1.9% to 3,300.40 yesterday.
Bulk-shipping companies: The Baltic Dry Index, which measures the cost of shipping commodities, fell 0.5% in London yesterday, the longest losing streak since the period ended Sept 24. Cosco Corp. Singapore (COS SP), a China-based shipbuilder that also operates bulk carriers, gained 3.5% to $2.06. STX Pan Ocean Co. (STX SP), South Korea’s biggest bulk carrier, climbed 1.6% to $15.