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Vard Holdings

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JarolLo
    03-Jul-2013 15:38  
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I agreed. The upside today seems to have no more strength. Selling queue is far more than buying now. Be prepared to face 0.85 or even lower. End of today likely to close lower than now.

DAX loss 122 ppts and FTSE loss 69 ppts now. Quite scary.

expertinvestor      ( Date: 03-Jul-2013 15:34) Posted:

This will break 90 cents level by this week... I'm quite sure...

 
 
CitizenBeng
    03-Jul-2013 15:35  
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Focus should be on risks in Brazil as VARD stumbles (Deutschabnk)

New orders are positive...

SMM recently announced that it has secured two contracts worth a total of US$417m from Oro Negro for the construction of two jack-up rigs. Scheduled for delivery at end-July 2015 and end-3Q15, these orders are the fifth and sixth units from the same customer (secured at the same price as the previous two units). The wins are positive and support the view from both KEP and SMM that the jack-up market remains active with continued enquiries from customers. While competition has risen from some newer North Asian entrants, we continue to believe that established drillers and oil companies would still look towards using proven O& M yards, especially with the renewed focus on safety and the need for equipment quality and reliability. With this order, SMM’s YTD wins total about S$3.2b (this includes the S$900m LOI from Det Norske) and is on track to reach our FY13E estimate of S$5.5b.

...but focus should be on risks in Brazil

VARD Holdings (VARD SP, Not rated), an offshore and specialized vessels builder, recently announced that while it remains confident in the long-term potential of the Brazilian market, operating conditions are challenging with high personnel turnover and very high pressure in the subcontracting market. As a result, the group indicated that its 2Q13 financial results would be lower than Street estimates. Management highlighted that margins have been impacted by further delays and cost overruns at its Niterói yard due to lower productivity than expected, additional costs for outsourcing of hull construction activities to subcontractors, and revisions to the estimates of start-up costs at its new Brazilian shipyard, Vard Promar.


“Tuition fees” yet to be paid

While SMM’s new order prospects remain healthy, we believe its margins may come under pressure in 2013-15E as they execute the large drillship contracts in Brazil. SMM is new to drillship construction and would need to move up the learning curve. We also believe its yard in Brazil, which is still under construction, may face potential cost overruns, skilled labour shortages, construction delays and other initial teething issues new facilities typically experience. Our SOTP-based target price is S$4.20 maintain Hold.

 
 
expertinvestor
    03-Jul-2013 15:34  
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This will break 90 cents level by this week... I'm quite sure...
 

 
halleluyah
    03-Jul-2013 15:21  
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If break,  might see some shorting n panic selling. 0.90cts support vry crucial. Am waiting fr tis fri data....guess wun b gd.

New123      ( Date: 03-Jul-2013 15:06) Posted:



breaking down of 90 cents will b very bearish.

 
 
New123
    03-Jul-2013 15:06  
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breaking down of 90 cents will b very bearish.
 
 
JarolLo
    03-Jul-2013 14:29  
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how you see the direction? up or down? I'm hesitating whether to  buy in now or later

Peter_Pan      ( Date: 03-Jul-2013 14:25) Posted:

Operators are raiding this stock..very easy to make money. Any more dips...i will hoot big big!!!

 

 
Peter_Pan
    03-Jul-2013 14:25  
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Operators are raiding this stock..very easy to make money. Any more dips...i will hoot big big!!!
 
 
Peter_Pan
    03-Jul-2013 14:20  
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Lai Lai Lai !!! Yi Ren Yi Ge, Kan Qin Bu Shan !! 

WanSiTong      ( Date: 03-Jul-2013 14:18) Posted:

Now you can be officially appointed as cheer leader! Smiley 166Smiley 379

Peter_Pan      ( Date: 03-Jul-2013 13:58) Posted:

Entered at 0.905


 
 
WanSiTong
    03-Jul-2013 14:18  
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Now you can be officially appointed as cheer leader! Smiley 166Smiley 379

Peter_Pan      ( Date: 03-Jul-2013 13:58) Posted:

Entered at 0.905

 
 
Peter_Pan
    03-Jul-2013 13:58  
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Entered at 0.905
 

 
rabbitfoot
    03-Jul-2013 13:52  
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Yesterday Cimb again said brazil tender will get in next few weeks. Please lah, I waiting till see kheow kheow lar
 
 
derekchong
    03-Jul-2013 13:46  
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really ang, ang coming.
 
 
halleluyah
    03-Jul-2013 12:00  
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Guess Chef Peter Pan going to feed them ang ku kueh aredi. Am waiting fr them to lau sai....lol.

WanSiTong      ( Date: 03-Jul-2013 11:56) Posted:

No more baking Huat Hueh ?

Peter_Pan      ( Date: 03-Jul-2013 11:54) Posted:

Took profits..now waiting again...


 
 
Peter_Pan
    03-Jul-2013 12:00  
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Vard is selling both Green Huat Kueh and Ang Ku Kueh onboard. Very messy..

WanSiTong      ( Date: 03-Jul-2013 11:56) Posted:

No more baking Huat Hueh ?

Peter_Pan      ( Date: 03-Jul-2013 11:54) Posted:

Took profits..now waiting again...


 
 
WanSiTong
    03-Jul-2013 11:56  
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No more baking Huat Hueh ?

Peter_Pan      ( Date: 03-Jul-2013 11:54) Posted:

Took profits..now waiting again...

 

 
Peter_Pan
    03-Jul-2013 11:56  
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  Vard the Casino Cruise !!! Lai Lai Lai !!!

Place your tikum tikum !!! 
 
 
Peter_Pan
    03-Jul-2013 11:54  
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Took profits..now waiting again...
 
 
WanSiTong
    03-Jul-2013 11:50  
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Make sure that it's not Muddy Waters !!

halleluyah      ( Date: 03-Jul-2013 11:47) Posted:

Resistance is 0.935.....jilted my Italian boyfren again after treating me kopi O.....hahaha

 
 
halleluyah
    03-Jul-2013 11:47  
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Resistance is 0.935.....jilted my Italian boyfren again after treating me kopi O.....hahaha
 
 
WanSiTong
    03-Jul-2013 11:20  
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Insider are not supposed to trade the stock within window period which is  1 moth before announcement of results.

  Pls don't stir water into muddy water!!

jomini      ( Date: 03-Jul-2013 11:13) Posted:

it wasnt really the profit warning that started it. it was the insider selling out. he cashed in his options near the lows. was almost signalling that he thought the stock would be down

brenocav      ( Date: 03-Jul-2013 10:39) Posted:



Yeah  I am..

May be silly  but I'm still optimistic on this counter. Troubles in Brazil was already a well known issue - don't know why the reaction to that profit warning was such a big deal, the global order book still looks OK doesn't it


 
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