Towards Financial Freedom
SembMarine wins more Oro Negro deals
SembMarine wins more Oro Negro deals. SMM's PPL Shipyard has secured a USD417m (SGD528m) contract from Oro Negro for two Pacific Class 400 jackup rigs. The latest contract will lift its YTD 2013 new orders to SGD3.24bn - representing 81% of our forecast - and net orderbook to SGD15.2bn. We are positive on the new order as SMM is likely to reap better margins from repeat orders. However, we keep our NEUTRAL call on limited upside to our TP. SMM's 16.1x FY13F P/E is reflective of mid-cycle valuations. (OSK|DMG)
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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....
