Pacific Radiance

(02-03-2015, 08:46 AM)Sincerity Wrote: http://research.dmg.com.sg:9898/UploadPD...150227.pdf


DMG report has a price target of $1.24..

[img][Image: sw4593.jpg][/img]

Oil climbing again.. Can buy now. Pacific Radiance at it's record low of 70 cents (when oil was $45)

PACIFIC RADIANCE LTD.
COMPANY REGISTRATION NO. 200609894C
JOINT VENTURE BY WHOLLY-OWNED SUBSIDIARY WITH DUTA MARINE SDN. BHD.
The Board of Directors of Pacific Radiance Ltd. (the “Company”) wishes to announce that its wholly-owned subsidiary, Alstonia Offshore Pte. Ltd. (“Alstonia”), has on 3 March 2015 entered into a Joint Venture Agreement with Duta Marine Sdn. Bhd. (“Duta Marine”) to jointly incorporate a company to be named “Duta Radiance Maritim Sdn Bhd” (“JV Company”) in Malaysia.
Under the terms of the Joint Venture Agreement, Alstonia and Duta Marine respectively will hold 49% and 51% equity interest in JV Company. The JV Company intends to be engaged in the ship owning, operating, management and chartering of marine vessels.
The investment in the JV Company will be funded through internal resources and is not expected to have any material impact on the Company's net tangible assets and earnings per share of the Company for the current financial year.
None of the Directors or substantial shareholders of the Company has any interest, direct or indirect, in the aforesaid joint venture save for their shareholdings in the Company.
By Order of the Board of
Pacific Radiance Ltd.
Loo Choo Leong
Group Finance Director
3 March 2015
The initial public offering of Pacific Radiance Ltd. was sponsored by United Overseas Bank Limited and UOB Kay Hian Private Limited (the "Joint Issue Managers"). The Joint Issue Managers assume no responsibility for the contents of this announcement.

There is always the option of trading oil futures and benefiting directly from the oil price cycle instead on trying to pick the right stocks that are derived demand by products.

No Vested Interests

(03-03-2015, 02:03 PM)Sincerity Wrote:

(02-03-2015, 08:46 AM)Sincerity Wrote: http://research.dmg.com.sg:9898/UploadPD...150227.pdf


DMG report has a price target of $1.24..

[img][Image: sw4593.jpg][/img]

Oil climbing again.. Can buy now. Pacific Radiance at it's record low of 70 cents (when oil was $45)

http://splash247.com/pacific-radiance-ma...th-new-jv/
Singapore: Via subsidiary Alstonia Offshore, Pacific Radiance has formed a jv with Malaysia’s Duta Marine to jointly incorporate Duta Radiance Maritim in Malaysia.

Alstonia and Duta Marine respectively will hold 49% and 51% equity interest in the company which has been set up for the purpose of ship owning, operating, management and chartering of marine vessels.

Pacific Radiance has over 130 vessels, including 60 Indonesian flagged vessels through joint ventures and associate companies, and so the jv looks to be a strategic move into the Malaysian offshore sector which has been booming in recent years.

http://splash247.com/pacific-radiance-ta...th-new-jv/

Singapore: Just a day after setting up a vessel owning and operating jv in Malaysia, Singapore offshore operator Pacific Radiance has said that its wholly-owned subsidiary, Crest Offshore Marine, has entered into a jv with Jiangsu Zhenjiang Shipyard in China to set up new company Radiance ZJ.

The company has been registered in Singapore and the statement from Pacific Radiance says it will be engaged in owning and operating an offshore support vessel.

Mike Meade, ceo of offshore broking firm M3 Marine, told Splash the deal between the two parties is likely an avenue for Pacific Radiance to lock in Chinese finance for vessels it will order at the yard. Meade commented: “It makes sense, it will keep the yard utilisation up and Pacific Radiance gets cheaper vessels. Jiangsu Zhenjiang is a good quality yard and Pacific Radiance are highly regarded in the business, so its a true win win”.

[Image: mct66b.jpg]

oil creeping up.. good for oil and gas counters

[Image: 5v62jm.jpg]
strange.. married deal at $1

I reckon, no company in the O&G sector, is spared by the storm.

(not vested)

Pacific Radiance’s 2Q earnings plunge 88% to US$3.8 million

SINGAPORE (Aug 13): Pacific Radiance’s 2Q earnings went down 88% to US$3.8 million ($5.3 million). Revenue fell 29% to US$34.8 million on the back of lower subsea business revenue.

The group's subsea business recorded quarterly revenue of US$0.4 million, down 97% from a year ago, owing to the lower utilisation of vessels during the period amid softened market conditions.

Offshore support service business slipped 3% to US$32.7 million for the quarter. The group secured new charters in the oil and gas sector during 2Q, which resulted in better performance than 1Q’s US$28.7 million.

Operating income decreased 86% to US$2.7 million. There was a US$18.1 million gain on sale of vessels recorded in 2QFY14.

Pacific Radiance last traded at 38 cents.
http://www.theedgemarkets.com/sg/article...38-million

Mr Pang managed to escape with Jaya but this time round certainly got caught... but then again since its listed, the man may have diluted and recoup as much he put in apart from his listed stake that he is unlikely to part should a buyout deal came along...

http://www.valuebuddies.com/thread-6001-...#pid122885

Pacific Radiance to make a provision of doubtful receivables of approximately USD 10.1 million in respect of services to Swiber’s Related Entities

Pacific Radiance Ltd. refers to the announcement released by Swiber Holdings Limited on 28 July 2016 in relation to its application for winding up and to place itself in provisional liquidation and wishes to inform that as a number of Swiber’s related entities ("Swiber's Related Entities") are debtors of the Company's subsidiaries, the Company is expected to make a provision of doubtful receivables of approximately USD 10.1 million in respect of services to Swiber's Related Entities (the "Provision of Doubtful Receivables").

The Company also wishes to inform that it had previously served several letters of demand to Swiber's Related Entities for recovery of the doubtful receivables, and will continue to pursue all legal avenues of recovery.

The Provision of Doubtful Receivables is expected to negatively impact the net tangible assets and earnings per share of the Company for the financial year ending 31 December 2016.