Tag Archive | "Sembcorp"

SembMarine’s Q2 net profit down 15%

Sembcorp Marine, the world’s second largest rig builder, posted a worse-than-expected 15 per cent fall in second quarter net profit, despite stronger margins.

The company, a unit of waste-processor to infrastructure conglomerate Sembcorp Industry, reported a net profit of S$149.7 million (US$124.4 million) for the three months ended June 30, compared to S$176.1 million a year ago.

The profit was missing the average forecast of two analysts surveyed by Reuters of S$183.5 million.

Sembcorp said its net orderbook stood at S$5.7 billion after securing a total of S$2.6 billion in new orders since the start of the year, excluding ship repair contracts.

Adapted from Reuters & The Business Times.

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Sembcorp Signs Agreements to Further Expand its Water Business in China

The first MOU will be signed between Sembcorp and Tianjin Lingang Industrial Area (TLIA) Construction and Development Co to explore forming a joint venture to build, own and operate a 12,000 cubic metres per day water reclamation plant in the TLIA. The new facility is expected to reclaim effluent from Sembcorp’s existing industrial wastewater treatment plant in TLIA as well as reservoir into high grade industrial water and demineralised water for supply to industrial customers in TLIA. Managing the entire water cycle in an integrated manner, from the treatment of wastewater, to water reclamation and water supply, this integrated closed loop approach of providing total water solutions minimises liquid discharge and conserves precious water resources. The MOU will be signed by Alan Yau, Chief Executive Officer of Sembcorp China and Yin Jigang, General Manager of TLIA Construction and Development Co.

– MOU for the acquisition of a municipal wastewater treatment plant and water reclamation plant in Qitaihe, Heilongjiang Province

Sembcorp is also looking to apply its total water management solutions in Qitaihe, in Heilongjiang province. It will be signing a MOU agreement with Harbin Wan Xing Long Co to explore acquiring a 50,000 cubic metres per day municipal wastewater treatment plant and a 40,000 cubic metres per day water reclamation plant. The water reclamation plant will be supplying water to a power plant owned by China Datang Corporation Renewable Power Co, one of the largest power producers in China. With these new facilities, Sembcorp, which currently has a 100,000 cubic metres per day municipal water treatment plant in Qitaihe, will be able to expand its product offerings to the city to encompass wastewater treatment and water reclamation. The MOU will be signed by Alan Yau, Chief Executive Officer of Sembcorp China and Wang Da Li, Chairman of Harbin Wan Xing Long Co.

– MOU for the acquisition of a municipal wastewater treatment plant in the Yanjiao National High Tech Industrial Development Area, Hebei Province

Sembcorp will sign the third MOU with Yanjiao National High Tech Industrial Development Area Administration Committee to explore acquiring a 50,000 cubic metres per day municipal wastewater treatment plant and its associated network in the Yanjiao National High Tech Industrial Development Area in Hebei Province, where Sembcorp currently owns and operates a 70,000 cubic metres per day municipal water facility. Alan Yau, Chief Executive Officer of Sembcorp China will sign the agreement with Lu Jinli, Deputy Director of Yanjiao National High Tech Industrial Development Area Administration Committee.

– MOU for a new water treatment plant in Xinmin, Liaoning Province

Earlier in the week on July 3, Sembcorp also signed a MOU with the Xinmin government to explore building a 120,000 cubic metres per day water treatment plant for municipal and industrial use in the new industrial zone of Xinmin City, Liaoning Province. The new plant will complement Sembcorp’s existing municipal water facility in Xinmin City.

The MOU was signed by Alan Yau, Chief Executive Officer of Sembcorp China and Wang Hong Wei, Deputy Mayor of Xinmin Government.

Commenting on Sembcorp’s business expansion in China, Alan Yau, Chief Executive Officer of Sembcorp China, said, “China is experiencing strong growth in water demand due to increasing industrialisation and urbanisation. With our track record, Sembcorp is well positioned to provide sustainable water solutions to China.

Adapted from Bloomberg Businessweek.

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Singapore Stocks, Sembcorp Marine, Keppel Corp

Singapore will open lower and it will be a great opportunity to buy quality. Sembcorp

Sembcorp Marine, one of the world’s largest rig-builders, said yesterday that its Jurong Shipyard unit has signed two contracts worth a total of US$427.6 million (S$539 million) to build two jackup rigs for United States offshore driller Noble Corporation.

The rigs are scheduled for delivery in the third quarter of 2013 and the first quarter of 2014, Sembcorp Marine said in a filing to the Singapore Exchange.

Sembcorp Marine said the rigs will be suitable for operations in challenging environments and harsh conditions, including extreme temperature areas such as in the Middle East and in the North Sea. The rigs will be capable of operating in waters of 400 ft and drilling to depths of 30,000 ft.

Singapore’s Keppel Corp , the world’s largest oil rig builder, said on Sunday that Jasper Investments had exercised an option to order a second jackup rig worth $180 million.

The KFELS B Class rig, which will be able to operate in water depths of 400 feet and drill up to 30,000 feet deep, will be delivered in the first half of 2013.

Jasper, a Singapore-based investment firm, owns and operates oil rigs for deep sea drilling which are contracted out to oil and gas companies.

The Singapore the central bank will release its half-yearly monetary review on April 14 and is widely expected to tighten policy further, allowing the local currency to strengthen some more to combat imported inflation.

Separately, the government will release the city-state’s first quarter advance GDP growth estimates on the same day. Both releases are scheduled for 8.00am.

The Monetary Authority of Singapore (MAS) may either sanction a small, immediate jump in the local dollar or signalling it will let the currency rise at a faster pace over time, a poll of economists by Reuters showed.

Inflationary pressures stemming from higher oil prices and a tight job market may prompt the MAS to tighten policy further, despite potential weakness in the global economy arising from problems in Japan and the Middle East, economists said.

However, the MAS is unlikely to act as aggressively as economists had expected back in February when the government raised its 2011 inflation outlook, a move that sparked a rally in the Singapore dollar.

In Singapore the Straits Times Index closed at 3,171.65, up 0.04 per cent, or 1.32 points.

About 1.6 billion shares exchanged hands.

Gainers beat losers 244 to 206.

Adapted from Ebeling Heffernan

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