Today, MTQ announced the final acquisition purchase price for Premier Sea and Land (PSL). There was an additional payout of US$2.6 million in CASH as the audited NTA for PSL as at June 30, 2011 was US$17.1 million, exceeding the original announcement's US$14.4 million.
NTA per share has now been adjusted to 72.52 cents/share.
MTQ has also declared an unchanged Interim dividend of $0.02/share - with scrip option - which will be paid on 6Jan12..... http://info.sgx.com/webcoranncatth.nsf/V...7003096D9/$file/ScripDividend-Book_Closure_Dates.pdf?openelement
Dear all, Part 1 of my MTQ 1H FY 2012 analysis is now up on my blog. Please feel free to visit and leave comments. Thanks!
A snippet as follows:-
"Looking at the numbers, it would appear that PSL’s contribution to the total revenue pie is rather significant, as it constitutes about 15% of the enlarged revenue base. Considering this represents barely two months of revenue (and profit) contribution, it would be interesting to observe what the numbers would be like when PSL is recognized on a full-year basis. Nevertheless, a good indication should be given at MTQ’s next results release for FY 2012 by end-April 2012. An interesting fact which was mentioned during the AGM by Mr. Kuah Boon Wee was that PSL was currently at the bottom of its cycle, as its earnings were bottoming out, and with the upturn in commodity prices and the still-booming oil and gas exploration industry, this will eventually bode well for PSL. The key, of course, is integration of PSL’s operations into MTQ’s such that there are synergies and better opportunities for cross-selling and bundling services/products to customers."
By today's (21Nov11) announcement, MTQ has fixed the issue price of the new shares to be issued to shareholders who opt to receive the coming $0.02/share Interim dividend in scrips, at $0.73/share..... http://info.sgx.com/webcoranncatth.nsf/V...F00113741/$file/Scrip_Dividend-Issue_Price.pdf?openelement
changwk Wrote:for decimal shares from scrip, what is the rounding principle?
It should be explained in the scrip dividend announcement. Normally fractional entitlements are lost i.e. if your entitlement is 1.99 shares, you will get only 1 share.
Dear all, Part 2 of my MTQ 1H FY 2012 analysis is now up on my blog. Please feel free to visit and leave comments. Thanks!
A snippet as follows:-
"The rationale for the acquisition was that PSL offered a complementary range of products and services which would enhance MTQ’s total offering to customers. PSL also had its own set of customers and acquiring the Company would mean that MTQ could broaden and expand its customer base, thus allowing for more opportunities for bundling of products/services and cross-selling. In addition, PSL also has a machining and fabrication business called PEMAC which will add to MTQ’s capabilities and expand the equipment range which MTQ can repair. Moreover, PSL also holds API certificates which will boost MTQ’s Oilfield Engineering capabilities. As mentioned previously in a blog post about the AGM, MTQ managed to acquite PSL because its parent wished to divest it as it was not forming a core part of the previous parent’s operations, which were mainly based in North America."
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