Singapore Stock Market News
Mermaid Maritime - Emerging from the depths
StockFanatic
Publish date: Sat, 01 Dec 2012, 03:23 PM
StockFanatic
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Welcome to Stockfanatic Singapore stock market and regional market news. This is a platform to share Singapore stock market and regional news to investors / man in the street. Investors can also look forward to analyst reports and brokers recommendations. Stockfanatic's Singapore stock market and regional news blog, home of investors one stop news station.
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4Q was 16% below our expectation
(full year at 74%) due to higher taxes.
Our EPS has been slashed by 40-44%
as we conservatively erase drilling
contributions which are not backed
by announced contracts. Our target
price is unchanged after rolling
forward to CY13 P/BV (still at 0.7x, its
3-year mean). Maintain Outperform
with catalysts expected from a
stronger subsea and shareholding
certainty for Asia Offshore Drilling
(AOD).
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