Towards Financial Freedom
Singapore Offshore & Marine (Neutral)
Singapore Offshore & Marine (Neutral): Seadrill said it has ordered two more F&G JU2000E jack-up (JU) rigs from DSIC Offshore for USD230m each. In total, Seadrill has ordered six jack-up orders from Dalian Shipbuilding Industry Offshore (DSIC Offshore) so far in 2013 and has eight such rigs currently under construction by DSIC Offshore, including the two units ordered in Nov 2010. We believe competition in the rig building space remains intense and may persist due to weakness in the commercial shipbuilding market. Rig owners are also drawn to the attractive take-out financing in China, which is the reason why some orders are going to that country despite execution challenges. We maintain our Neutral rating on KEP (TP: SGD11.21) and SMM (SGD4.65) given the limited upside to our TPs. However, we see an opportunity to accumulate on valuations should share prices pull back by another 5% to 10% from current levels. (OSK-DMG)
More articles on Towards Financial Freedom
Duty Free International Ltd. - A duty-free giant in the making
Created by kiasutrader | Oct 17, 2016
Cityneon Holdings - 'Avengers' showcasing in the Land Down Under
Created by kiasutrader | Jun 07, 2016
Discussions
Be the first to like this. Showing 0 of 0 comments
Post a Comment
Featured Posts
New Update. Discover investment communities that resonate with your ideas
Trade Confidently & Analyze Charts Conveniently - Download VCPlus IOS & Android App Now!
Latest Videos
Apps
Top Articles
1
RHB Investment Research Reports
ST Engineering - Rolling Forward Our Valuation; Reiterate BUY
2
SGX Market Dialogues
Kopi-C With GuocoLand’s Group CEO: ‘We Have Twin Engines for Growth’
3
CEO Morning Brief
Singapore Home Sales Set for Worst Year Since Financial Crisis
4
CEO Morning Brief
DBS Posts 300% Growth in Semi-liquid Fund Sales in Greater China
5
CEO Morning Brief
#
Stock
Score
Daily Stocks
Stock Name
Last
Change
Volume
Stock Name
Last
Change
Volume
Stock Name
Last
Change
Volume
Featured Advertisers / Partners
Ride The Bull Short The Bear
CS Tan
4.9 / 5.0
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....
