SGX Stocks and Warrants
Keppel Corp - In Hot Demand
Warrants Highlight
Keppel Corp - In Hot Demand
| Code | Name | Type | Expiry | Exercise Price |
| P0WW | KepCorp MBeCW120702 | Call | 02-Jul-12 | 10.50 |
| MV8W | KepCorp MBeCW130103 | Call | 03-Jan-13 | 10.909 |
| P1HW | KepCorp MBeCW120801 | Call | 01-Aug-12 | 11.50 |
| M8PW | KepCorp MBeCW130603 | Long Dated Call | 03-Jun-13 | 11.818 |
Concerns about slowing growth will be the last thing on the minds of offshore and marine companies. Demand for offshore units is hot and the orders just won’t stop rolling in. Keppel Corp’s announcement of yet another deal is a case in point.
Giant US$4.12bn deal in the works
In an after market announcement yesterday, Keppel Corp – the world’s largest builder of oil rigs, said that it had signed a letter of intent with Sete Brasil for the design and construction of five additional semisubmersible (semi) drilling rigs. The total value of the contracts, if and when successfully agreed and executed, will be approximately US$4.12bn. Sete Brasil, part-owned by Petroleo Brasileiro SA.
Earlier in December 2011, Keppel Corp had secured a US$809mn semi to be built to the same design requested from Sete Brasil. This new deal takes the total orders from Petrobras (via Sete Brasil) to six out of 21 pre-salt orders. Sete Brasil had said in February that it will spend US$27bn on drilling units by 2020.
Outperforming the market in the last two weeks
Prior to yesterday’s announcement, Keppel Corp’s stock price had been resilient amid the broad sell-down in the market. While most index names were being sold down along with the benchmark STI amid fresh concerns of the fragile U.S economy, Keppel Corp has risen 2.3% versus the STI’s 1.1% drop. Notably, Keppel Corp has held above the $11 mark this week whilst the 3,000 mark on the STI had given way. Keppel Corp closed at $11.24 yesterday.
Singapore Market Wrap
Strong afternoon rally
The STI staged a strong rally yesterday afternoon, rallying 1.1% day-on-day (dod) to 2,978.14. Warrant investors bought heavily into Bumitama Agri warrant P9FW on its debut, while others took profit on Keppel Corp calls P1HW. Keppel shares rose 2.0% to $11.24 yesterday before announcing its US$4.1bn letter of intent with Sete Brasil after markets.
June Call STI 3000MBeCW120629 (P8BW) exercise level 3,000.*
June Put STI 2900MBePW120629 (P8CW) exercise level 2,900.*
Longer dated Call STI 3100MBeCW130131@ (PA7W) exercise level 3,100.*
Longer dated Put STI 2800MBePW130131@ (PA8W) exercise level 2,800.*
Bumitama Agri soars on debut
Bumitama warrant P9FW was the most active Singapore single stock warrant yesterday, with 22.5mn changing hands. The palm oil producer started trading yesterday and soared 30.7% from its IPO price of $0.75 to close at $0.98.
Call Bumitama MBeCW120903 (P9FW) exercise price $1.00.*
Cosco gets US$75mn contract
Cosco announced yesterday afternoon that it had secured a US$75mn drilling rig order as SEADRILL exercised its last option awarded in Feb 11. The stock was in trading halt around 2 to 3pm and rallied 1.4% day-on-day to $1.11 after it resumed trading
Call CoscoCorMBeCW120801 (P1OW) exercise price $1.30.*
Call CoscoCorMBeCW130103 (K8BW) exercise price $1.80.*
Overnight Market Wrap
S&P500 rallied, USD fell
S&P500 continued its momentum for the 2nd day, it rallied of 1.4% to 1,387.57. European indices, which started the day almost flat, followed the US indices' rally as they opened.
US initial jobless claims were slightly worse than expected at 380,000, compared to Bloomberg analysts' survey of 355,000. The US Dollar Index fell 0.6% to 79.285.
Overnight Markets
| Indices | Last | Change |
|---|---|---|
| STI | 2978.14 |
1.1%  |
| HSI | 20327.32 |
0.9% |
| DJIA | 12986.58 |
1.4% |
| S&P 500 | 1387.57 |
1.4% |
| Nasdaq | 3055.55 |
1.3% |
Corporate News
Corporate Announcements
Keppel Corp has signed a letter of intent worth US$4.12bn with Sete Brasil for the design and construction of five additional semisubmersible (semi) drilling rigs.
Ezra Holdings announced a 2Q12 net profit of US$22.1 mio, a 177% increase from the previous year.
Results Announcement
Tue 17 Apr: SGX 3Q12
Thu 19 Apr: Keppel Corp 1Q12
Wed 9 May: UOB 1Q12
Ex-Dividend Date
Wed 25 Apr: Keppel Corp ($0.26), SembMarine ($0.20)
Wed 26 Apr: STX OSV ($0.10)
Fri 27 Apr: OCBC ($0.15)
Mon 30 Apr: Cosco ($0.03), Golden Agri ($0.0184)
Fri 4 May: Wilmar ($0.031), IndoFood Agri ($0.003)
Mon 7 May: UOB ($0.40), CapitaLand ($0.08)
Wed 9 May: DBS ($0.28)
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| Chart | Stock Name | Last | Change | Volume |
|---|
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
