yes or their Senior staff hire in Bra
Its unlikely they are involved as blue chip spore company ..but maybe affected by some middle man or otherwise in Brazil .Whatever , share prices will be affected somewhat.
My broker emailed me a Bloomberg report saying Keppel FELS and Sembmarine Jurong yard involved in a case of " under table money" with Brazil yards ...this time also police get in to investigate ?
This news is emaied by broker latest news....the title from Bloomberg dated yesterday...Ask CIMB or AMfraser. ....
My gosh. This news is so old. Why are you only just noting this ? It was even reported in the ST and BT months ago.
My broker emailed me a Bloomberg report saying Keppel FELS and Sembmarine Jurong yard involved in a case of " under table money" with Brazil yards ...this time also police get in to investigate ?
lyn lyn buying this one!......yeah!.....thanks.....
My gosh. This news is so old. Why are you only just noting this ? It was even reported in the ST and BT months ago.
My broker emailed me a Bloomberg report saying Keppel FELS and Sembmarine Jurong yard involved in a case of " under table money" with Brazil yards ...this time also police get in to investigate ?
Transocean has deferred the delivery of two ultra-deepwater drillships to be constructed by Sembcorp Marine Jurong Shipyard by 24 months.The contracts are worth US$540m per unit and were originally scheduled to be delivered in 2Q17 and 1Q18. The revised delivery dates are 2Q19 and 1Q20.
While Maybank-KE has previously expected delays, the 24-month deferment is longer than expected. This comes after Transocean delayed five jackup rigs contracted to Keppel FELS by 18 months.
Other rig contractors like Atwood and Ensco have also delayed their drillship orders with the Korean yards. These reflects the severe rig supply glut over the next two years, and underscores Maybank-KE negative view on rigbuilders.
Maybank-KE is cutting its FY15-17e earnings estimates by 3%/7%/1% to factor the delay, and maintains its Sell rating on SMM with an unchanged TP of $2.45. The house does not rule out further earnings revisions on further surprise delivery deferments.
Best to avoid KepCorp too for time being.
That news alrdy out in the market quite sometime ago.I do not wish to comment too much here.
My broker emailed me a Bloomberg report saying Keppel FELS and Sembmarine Jurong yard involved in a case of " under table money" with Brazil yards ...this time also police get in to investigate ?
Transocean has deferred the delivery of two ultra-deepwater drillships to be constructed by Sembcorp Marine Jurong Shipyard by 24 months.The contracts are worth US$540m per unit and were originally scheduled to be delivered in 2Q17 and 1Q18. The revised delivery dates are 2Q19 and 1Q20.
While Maybank-KE has previously expected delays, the 24-month deferment is longer than expected. This comes after Transocean delayed five jackup rigs contracted to Keppel FELS by 18 months.
Other rig contractors like Atwood and Ensco have also delayed their drillship orders with the Korean yards. These reflects the severe rig supply glut over the next two years, and underscores Maybank-KE negative view on rigbuilders.
Maybank-KE is cutting its FY15-17e earnings estimates by 3%/7%/1% to factor the delay, and maintains its Sell rating on SMM with an unchanged TP of $2.45. The house does not rule out further earnings revisions on further surprise delivery deferments.
Best to avoid KepCorp too for time being.
Its unlikely they are involved as blue chip spore company ..but maybe affected by some middle man or otherwise in Brazil .
Whatever , share prices will be affected somewhat.
My broker emailed me a Bloomberg report saying Keppel FELS and Sembmarine Jurong yard involved in a case of " under table money" with Brazil yards ...this time also police get in to investigate ?
Transocean has deferred the delivery of two ultra-deepwater drillships to be constructed by Sembcorp Marine Jurong Shipyard by 24 months.The contracts are worth US$540m per unit and were originally scheduled to be delivered in 2Q17 and 1Q18. The revised delivery dates are 2Q19 and 1Q20.
While Maybank-KE has previously expected delays, the 24-month deferment is longer than expected. This comes after Transocean delayed five jackup rigs contracted to Keppel FELS by 18 months.
Other rig contractors like Atwood and Ensco have also delayed their drillship orders with the Korean yards. These reflects the severe rig supply glut over the next two years, and underscores Maybank-KE negative view on rigbuilders.
Maybank-KE is cutting its FY15-17e earnings estimates by 3%/7%/1% to factor the delay, and maintains its Sell rating on SMM with an unchanged TP of $2.45. The house does not rule out further earnings revisions on further surprise delivery deferments.
Best to avoid KepCorp too for time being.
just sold off keppel and sembmar stock. Petrobras has no money to pay for the rigs, eventually they will try their best to cancel the rigs or send the subsidiary to go bankrupt. Sembmarine will be the badly affected since they have dump few hundred million to build the new shipyard in brazil and the shipyard will be out of jobs.
Petrobras will be a very ugly story in 2015 to 2016.
My broker emailed me a Bloomberg report saying Keppel FELS and Sembmarine Jurong yard involved in a case of " under table money" with Brazil yards ...this time also police get in to investigate ?
Transocean has deferred the delivery of two ultra-deepwater drillships to be constructed by Sembcorp Marine Jurong Shipyard by 24 months.The contracts are worth US$540m per unit and were originally scheduled to be delivered in 2Q17 and 1Q18. The revised delivery dates are 2Q19 and 1Q20.
While Maybank-KE has previously expected delays, the 24-month deferment is longer than expected. This comes after Transocean delayed five jackup rigs contracted to Keppel FELS by 18 months.
Other rig contractors like Atwood and Ensco have also delayed their drillship orders with the Korean yards. These reflects the severe rig supply glut over the next two years, and underscores Maybank-KE negative view on rigbuilders.
Maybank-KE is cutting its FY15-17e earnings estimates by 3%/7%/1% to factor the delay, and maintains its Sell rating on SMM with an unchanged TP of $2.45. The house does not rule out further earnings revisions on further surprise delivery deferments.
Best to avoid KepCorp too for time being.
My broker emailed me a Bloomberg report saying Keppel FELS and Sembmarine Jurong yard involved in a case of " under table money" with Brazil yards ...this time also police get in to investigate ?
Transocean has deferred the delivery of two ultra-deepwater drillships to be constructed by Sembcorp Marine Jurong Shipyard by 24 months.The contracts are worth US$540m per unit and were originally scheduled to be delivered in 2Q17 and 1Q18. The revised delivery dates are 2Q19 and 1Q20.
While Maybank-KE has previously expected delays, the 24-month deferment is longer than expected. This comes after Transocean delayed five jackup rigs contracted to Keppel FELS by 18 months.
Other rig contractors like Atwood and Ensco have also delayed their drillship orders with the Korean yards. These reflects the severe rig supply glut over the next two years, and underscores Maybank-KE negative view on rigbuilders.
Maybank-KE is cutting its FY15-17e earnings estimates by 3%/7%/1% to factor the delay, and maintains its Sell rating on SMM with an unchanged TP of $2.45. The house does not rule out further earnings revisions on further surprise delivery deferments.
Best to avoid KepCorp too for time being.
M& A is seem for the 1st time in O& G space since last year.
some say its a sign of oil bottom
Transocean has deferred the delivery of two ultra-deepwater drillships to be constructed by Sembcorp Marine Jurong Shipyard by 24 months.
The contracts are worth US$540m per unit and were originally scheduled to be delivered in 2Q17 and 1Q18. The revised delivery dates are 2Q19 and 1Q20.
While Maybank-KE has previously expected delays, the 24-month deferment is longer than expected. This comes after Transocean delayed five jackup rigs contracted to Keppel FELS by 18 months.
Other rig contractors like Atwood and Ensco have also delayed their drillship orders with the Korean yards. These reflects the severe rig supply glut over the next two years, and underscores Maybank-KE negative view on rigbuilders.
Maybank-KE is cutting its FY15-17e earnings estimates by 3%/7%/1% to factor the delay, and maintains its Sell rating on SMM with an unchanged TP of $2.45. The house does not rule out further earnings revisions on further surprise delivery deferments.
Best to avoid KepCorp too for time being.
