Keppel Limited

3,000,000 voting shares acquired by the Fullerton Alpha - Aggregate Fund

http://infopub.sgx.com/FileOpen/_KCL%202...eID=329458

Probably Keppel's armours finished and now Temasek's turn.

See KepCorp / TEMASICK Vs General Market,
S$8.74 of 24th Dec 2014, back by almost S$44 millions share-buy back fund..
Round 1 = KepCorp / TEMASICK Wins!

11-Dec = S$5.4m
12-Dec = S$3.2m
15-Dec = S$7.9m
16-Dec = S$6.4m
17-Dec = S$8.2m
18-Dec = S$9.5m
19-Dec = S$3.6m
23-Dec = S$24m

Sub. Total : S$44.2milos - KEPCORP
+S$24milos - TEMASICK
Total : S$64 milos

Can KEPCORP+TEMASICK hold up the market play?
Tune in next week!

Keppel Corp is always ahead of competition, and biz cycle...

Keppel Corp gets $934-million vessel conversion contract

SINGAPORE (Jan 1): Keppel Corp ( Financial Dashboard) has secured a contract worth US$705 million ($934 million) to convert a liquefied natural gas carrier into a floating liquefaction vessel (FLNG).

This is the second FLNG conversion project that Keppel will carry out for Golar LNG, one of the world's largest independent owners and operators of LNG carriers.

Full construction of the vessel is expected to begin by November. The project is expected to last 33 months.
http://www.theedgemarkets.com/sg/article...n-contract

http://businesstimes.com.sg/companies-ma...-over-s65m

Keppel Offshore & Marine unit wins two contracts worth over S$65m
By Teh Shi Ning tshining@sph.com.sg @TehShiNingBT
6 Jan 6:53 PM
KEPPEL Offshore & Marine's (Keppel O&M) wholly owned unit, specialised shipbuilder Keppel Singmarine, has secured two contracts worth over S$65 million....

Fellow Korean shipyards seem to have it worst with their 50% avg drops compared to SG's top2 ~30% drop.

Short Sellers Bet Korean Shipyards’ Misery to Deepen

South Korean shipbuilders, last year’s biggest stock-market losers, are the most popular target for short sellers in 2015 as falling crude hurts oil-rig demand.

Bearish wagers used borrowed stock against Hyundai Mipo Dockyard Co. (010620) rose to 7.3 percent of shares outstanding on Jan. 8, the highest level on the Kospi index and up from 4.3 percent a year ago, according to data compiled by Bloomberg and Markit Group Ltd. Short interest in Daewoo Shipbuilding & Marine Engineering Co. and Hyundai Heavy Industries Co. (009540) has more than tripled in the past 12 months............

A gauge of Korean shipbuilders plunged 51 percent last year, the biggest drop among more than 100 industry groups on the nation’s benchmark stock gauge. Hyundai Heavy, the fourth-largest company by market capitalization in the benchmark Kospi at its peak in April 2011, now ranks 34th after losing about $31 billion in value.

http://www.bloomberg.com/news/2015-01-12...eepen.html

Keppel O&M continue to win contract...

Keppel unit wins $265 million contract to build ice-class vessel

SINGAPORE (Jan 15): Keppel Singmarine has secured a contract from New Orient Marine to build an ice-class multi-purpose vessel worth $265 million.

Keppel Singmarine is a subsidiary of Keppel Offshore & Marine (Keppel O&M), while New Orient Marine is a subsidiary of Luxembourg-based Maritime Construction Services SA.

The contract is not expected to have any material impact on the net tangible assets or earnings per share of Keppel Corporation Limited ( Financial Dashboard) for the current financial year.

Schedule for completion in 2017, the vessel is built to the proprietary design of Keppel O&M’s ship design and development arm, Marine Technology Development.
...
http://www.theedgemarkets.com/sg/article...ass-vessel

The O&M division remains resilience amid the lower oil price. The real test might be in the next 6-12 months, I guess...

(not vested)

Keppel Corp posts 6% rise in 4Q earnings to $726 million

SINGAPORE (Jan 22): Keppel Corp ( Financial Dashboard) posted a 6% rise in 4Q earnings to $726 million, or 39.9 cents per share. This was 6% above the $684 million recorded in 4Q13, led by higher pre-tax profit from most of its divisions.

For the full year FY14, earnings fell 19% to $1.39 billion from $1.72 million. Earnings per share rose by 2% to 103.8 cents.

Group revenue for 4Q14 ended Dec of $3.93 billion, 9% higher than that of 4Q13.

Revenue from the Offshore & Marine Division revenue increased by 15% to $2.38 million as a result of higher revenue recognition from ongoing projects.
...
http://www.theedgemarkets.com/sg/article...26-million

The cash flow is shockingly poor .....a red flag in my view

(22-01-2015, 09:53 PM)CCUV Wrote: The cash flow is shockingly poor .....a red flag in my view

You may be right. Do you mind to share in more details?
Thanks.

(23-01-2015, 08:06 AM)Temperament Wrote:

(22-01-2015, 09:53 PM)CCUV Wrote: The cash flow is shockingly poor .....a red flag in my view

You may be right. Do you mind to share in more details?
Thanks.

There is a big increase of work in progress in cash flow item

Stocks & work-in-progress (2,134,437)

"Net cash from operating activities for the full year was $22 million, $603 million lower than that in the previous year. This was due mainly to higher working capital requirements from Offshore & Marine and Property Divisions, despite a higher operating profit in the current year. Net cash from investing activities for the year was $877 million. The Group spent $1,262 million on acquisitions and operational capex. This comprised principally acquisition of additional interest in subsidiaries, further investment in associated companies, capital expenditure on data centre assets and logistics facilities and other operational capex. Divestment and dividend income totalled $2,139 million, mainly proceeds received from the divestment of Equity Plaza, sale of the data centre assets by the Infrastructure Division and the divestment of the Group’s one-third interest in MBFC T3. Net cash used in financing activities was $769 million. The net proceeds from loans of $272 million were $1.86 billion lower due to due to lesser refinancing requirements."