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MAINTAIN BUY; Our revised price target is $10.20 : )
Keppel announced US$53 million in new infrastructure contracts, with the infrastructure/environmental
engineering division a key growth segment in our view, with $2.3 billion in orders to date. Keppel is set
to announce FY2009 results on Jan 26.
With the SPC divestment, we think a special dividend or capital reduction could be in the offing. We estimate
a final ordinary dividend of 25 cents, which together with a 15 cents interim works out to 40 cents (FY09F).
Nomura Research 11 Jan'2010
Announcement No. 00087: http://info.sgx.com/webcorannc.nsf/vwprint_portal/9A793EAFE9713124482576AB00245019?OpenDocument
Announcement No. 00086: http://info.sgx.com/webcorannc.nsf/vwprint_portal/D1ADCAD3F34E28E4482576AB0023E5BB?OpenDocument
Announcement No. 00087
NOTICE OF A DIRECTOR'S (INCLUDING A DIRECTOR WHO IS A SUBSTANTIAL
SHAREHOLDER) INTEREST AND CHANGE IN INTEREST *
Date & Time of Broadcast : 14-Jan-2010 17:32:22
1. Date of change of Interest : 14-01-2010
2. Name of Registered Holder : Teo Soon Hoe
3. Circumstance(s) giving rise to the interest or change in interest : # Others
# Please specify details : Exercise of Keppel Corporation Limited Share Options
4. Information relating to shares held in the name of the Registered Holder
No. of Shares held before the change : 3,858,332
As a percentage of issued share capital : 0.24 %
No. of Shares which are subject of this notice : 230,000
As a percentage of issued share capital : 0.01 %
Amount of consideration (excluding brokerage and stamp duties) per share paid or received : 3.24
No. of Shares held after the change : 4,088,332
As a percentage of issued share capital : 0.26 %
--------------------------------------------------------------------------------------
Announcement No. 00086
NOTICE OF A DIRECTOR'S (INCLUDING A DIRECTOR WHO IS A SUBSTANTIAL
SHAREHOLDER) INTEREST AND CHANGE IN INTEREST *
Date & Time of Broadcast : 14-Jan-2010 17:30:47
1. Date of change of Interest : 14-01-2010
2. Name of Registered Holder : Teo Soon Hoe
3. Circumstance(s) giving rise to the interest or change in interest : # Others
# Please specify details : Exercise of Keppel Corporation Limited Share Options
4. Information relating to shares held in the name of the Registered Holder
No. of Shares held before the change : 3,628,332
As a percentage of issued share capital : 0.23 %
No. of Shares which are subject of this notice : 230,000
As a percentage of issued share capital : 0.01 %
Amount of consideration (excluding brokerage and stamp duties) per share paid or received : 3.01
No. of Shares held after the change : 3,858,332
As a percentage of issued share capital : 0.24 %
(OCBC 13 January 2010)
Keppel Corporation; Developing its other business drivers
Our SOTP value rises in tandem to S$9.93 (prev.S$9.70)
Infrastructure contracts underscore ambitions. The group
recently announced two contracts worth a total of US$53m
(about S$74.2m) to supply waste-to-energy (WTE) solutions
in China. Though the contracts are relatively small, we view
the continued clinching of WTE projects from China as an
affirmation of the group's ability to remain as a major player in
the imported WTE solutions market in China (currently has
60% market share), or even grow its infrastructure business
in markets such as Europe and the Middle East.
Higher fair value estimate for KepLand. Keppel has also
been developing its property arm. Our property analyst has
increased Keppel Land's fair value estimate to S$3.86 with
the acquisition of two township projects in Shenyang, China
and Ho Chi Minh City, as well as the increase in K-REIT's
share price. Our SOTP value rises in tandem to S$9.93 (prev.
S$9.70), as we update the market prices for Keppel's business
entities.
Maintain BUY.
(OCBC 13 January 2010)
Keppel Corporation; Developing its other business drivers
Our SOTP value rises in tandem to S$9.93 (prev.S$9.70)
Infrastructure contracts underscore ambitions. The group
recently announced two contracts worth a total of US$53m
(about S$74.2m) to supply waste-to-energy (WTE) solutions
in China. Though the contracts are relatively small, we view
the continued clinching of WTE projects from China as an
affirmation of the group's ability to remain as a major player in
the imported WTE solutions market in China (currently has
60% market share), or even grow its infrastructure business
in markets such as Europe and the Middle East.
Higher fair value estimate for KepLand. Keppel has also
been developing its property arm. Our property analyst has
increased Keppel Land's fair value estimate to S$3.86 with
the acquisition of two township projects in Shenyang, China
and Ho Chi Minh City, as well as the increase in K-REIT's
share price. Our SOTP value rises in tandem to S$9.93 (prev.
S$9.70), as we update the market prices for Keppel's business
entities.
Maintain BUY.
(OCBC 13 January 2010)
Keppel Corporation; Developing its other business drivers
Our SOTP value rises in tandem to S$9.93 (prev.S$9.70)
Infrastructure contracts underscore ambitions. The group
recently announced two contracts worth a total of US$53m
(about S$74.2m) to supply waste-to-energy (WTE) solutions
in China. Though the contracts are relatively small, we view
the continued clinching of WTE projects from China as an
affirmation of the group's ability to remain as a major player in
the imported WTE solutions market in China (currently has
60% market share), or even grow its infrastructure business
in markets such as Europe and the Middle East.
Higher fair value estimate for KepLand. Keppel has also
been developing its property arm. Our property analyst has
increased Keppel Land's fair value estimate to S$3.86 with
the acquisition of two township projects in Shenyang, China
and Ho Chi Minh City, as well as the increase in K-REIT's
share price. Our SOTP value rises in tandem to S$9.93 (prev.
S$9.70), as we update the market prices for Keppel's business
entities.
Maintain BUY.
(OCBC 4 December 2009)
Keppel Corporation; Brighter outlook. Upgrade to BUY. Fair value S$9.70
Upgrade to BUY. Reflecting the higher pace of new orders and bright sector outlook,
we anticipate new order wins of S$3.8b and S$4.0b for its core offshore marine segment
in FY10 and FY11 respectively. We have raised our earnings estimates as well.
Our recent upgrade of Keppel Land has also bumped up our fair value estimate to S$9.70
(based on SOTP valuation). Finally, Keppel has also mentioned that it may unlock the
value of some of its infrastructure assets through a listed business trust, given suitable
market conditions.
With all the above reasons, we upgrade the stock to a BUY.
Volatile...if the price is to fall again to touch 8.25...I will buy some more as I see this market retracement as a technical correction. It is a bull market afterall.
11Jan'10 closed $8.71 (successful break above $8.61)
08Jan'10 closed $8.65 (successful break above $8.61)
07Jan'10 closed $8.69 (successful break above $8.61)
By The Edge
Monday, 11 January 2010
Keppel Corp ($8.65) — Poised for breakout
Prices have been entrenched within a sideways range since July last year,
making January the sixth month within the consolidation range. Last week,
however, prices attempted to break above the thrice-tested $8.61 level.
The 50- and 100-day moving averages could start to draw apart after
drawing together, a positive sign.
Volume has increased significantly on a white-candle day. Quarterly momentum
is turning up and breaking out of an eight-month downtrend. A successful
break above $8.61 indicates a target of $9.61. A break below $8.61 would
negate the target.
The upside potential is higher than the downside...one of the laggards which has yet to run.
williamyeo ( Date: 07-Jan-2010 23:29) Posted:
|
perfect opportunity to buy on dip on fri..
i'm holding on to this baby..
Today vested some more @ 8.60! Should see more upside next week : )
Channel NewsAsia's Hong Kong Bureau Chief Roland Lim | Posted: 08 January 2010 2059 hrs
Singapore News
Keppel secures US$53m contracts for waste management in China
SHENZHEN: Singapore's Keppel Corporation unit - Keppel Integrated Engineering - has sealed the deal on
two contracts to supply waste-management solutions worth US$53 million in China.
It will help Shenzhen Energy to build China's biggest incineration plant by 2011. It has also signed a Memorandum
of Understanding (MOU) with Shenzhen Energy to explore new areas like water treatment.
Waste management is becoming big business in China. According to British research unit, New Energy Finance,
China currently incinerates only about 2 per cent of its municipal waste or rubbish.
But the government is targeting to raise that up to 30 per cent by 2030, and that will involve a commitment to spend
at least US$6.3 billion.
Under the deals signed on Friday, Keppel will help Shenzhen Energy expand its existing waste-to-energy plant, which
was built ten years ago. By next year, the facility is expected to be able to treat 4,200 tonnes of solid waste per day,
or 2.5 times more than current levels.
http://www.channelnewsasia.com/stories/singaporebusinessnews/view/1029424/1/.html
Keppel secured 2 technology contracts (approximately S$74.2 million) in China !
PRESS RELEASE
Keppel’s technology for largest waste-to-energy plant in China
Latest two technology contracts reaffirm company’s market leadership
SINGAPORE/SHENZHEN, 08 January 2010 – Keppel Seghers Belgium N.V. (Keppel Seghers),
the environmental engineering arm of Keppel Integrated Engineering (KIE), has secured two contracts
to supply waste-to-energy (WTE) solutions, totalling US$53 million (approximately S$74.2 million), in China.
http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_2463E98C3DD6E4A8482576A500314AF2/$file/Shenzhen.contract2010.pdf?openelement
Curr.Price $8.69 x 0.75yr / EPS $0.842 = PE 7.74
Keppel Corporation Limited : 9 months ended 30 September'
Revenue $'000 $9,217,886
Profit for the period $'000 $1,499,889
Earnings per ordinary share (After exceptional items)
- basic 84.4 cents
- diluted 84.2 cents
VS
Curr.Price $11.56 x 0.75yr / EPS $0.437 = PE 19.84
CITY DEVELOPMENTS LIMITED : 9 months ended 30 September
Revenue $'000 $2,350,402
Profit for the period $'000 $469,548
Earnings per ordinary share
- basic 45.1 cents
- diluted 43.7 cents
Agree with your view.
senecus ( Date: 07-Jan-2010 22:34) Posted:
|
Good stock to hold for long. City Dev has already break 10...see no reason why it will stay below 10.
Currently, Keppel's Bollinger Bands are begin to widen, upside volatility movement is forming! :)
Result ann. on 26Jan
8.73 now and towards 9.00 when the result is announcement.
yo alex u also same same with me..
u sold ur SIA? hit ur TP $15
Breaking recent high of $8.70 must have some good news like giving special divy. Vested