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It has formed a strategic alliance with CNOOC Engineering, a subsidiary of China National Offshore Oil Corporation, to pursue potential projects in China.
It was higher after it said it won new contracts from Royal Dutch Shell worth $45.8 mln for work on Shell's ethylene cracker project here, dealers said.
Work on the project will start in July next year and is due to completed by December 2009. Hiap Seng said the value of its outstanding orders on Nov 13, at $155 mln, does not include its latest contracts with Shell.
Hi singaporegal & oth investment gurus, would like to heed your opinion on HS .... bought 10 lots at 0.455, entitled 5 lots of right issues, is it advisable to sell the 5 lots rights or hold to it?.. thanks...
thxs singaporegal, agree with u that this low vol counter is a bit difficult for TA trader (just my personal experience...) .. the bollinger bands has widen up....
Still low volume.... trend reversal may be happening soon.
Today announcement by HS Engg http://info.sgx.com/webcorannc.nsf/e0b081862900741c482571aa001cf0af/64f94eebc443bcb548257206001a66e9?OpenDocument
I would like to ask how much dividend will I get if I have 80 k lots of HS?
HS Compression & Process Pte Ltd, a wholly owned subsidiary of Hiap Seng, has entered into a strategic co-operation agreement with China Petroleum Engineering Co Ltd South West Co, a unit of China National Petroleum Corp, to jointly undertake projects in China and elsewhere, Hiap Seng said.
The agreement covers the design of gas treatment facilities and gas compression stations, and the contracting of engineering, procurement, installation and commissioning of projects
"This alliance will give us the leverage to capitalize on each other's strengths to develop new business opportunities and secure new projects, especially in the fast-growing oil and gas sector," Hiap Seng managing director Frankie Tan said in a written statement.
this counter usually has very low volume. only in the past few days did the volume surge up. but its dropping to its usual levels again.
Not a good stock for TA people.
Not a good stock for TA people.
..actual CD date not yet declared ....
price is downtrending, actual CD not yet declared ....
The group said that it was in talks with certain parties in China on business cooperation or strategic arrangements, but no definitive agreement has yet been reached.
MD Frankie Tan said that it is bidding for 2 projects - one from Shell and one from Exxon Mobil. The total overall value of the contracts are about US$5b. Hiap Seng is bidding for portions of these that call for the installation of piping and equipment.
It has proposed a bonus dividend ($0.08 net) and rights issue of up to 101.25m shares at an issue price of $0.16, on the basis of 1 rights share for every 2 shares.
Glance through the result, EPS seem to be only 2.xx and share price 27 now. Trading at PE 10 and with the current market soentiment this seemed to be a bit on the high side. How about the prospect this year?
profit grows by 5 folds !!!