AusGroup
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AUSGROUP: 1H09 revenue up 28.8% to reach A$260.5 m
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It is good to accumulate now since there is some profit taking and correction due to us job report.The company is sound with good fundamental and profit is good- positive earning.Not to worry.
It should move in the next few weeks one the dual listing is finalise in australia. So do vest and good luck.
How is their current cash flow? Time to accumulate for more? or quit like its CEO?
Mr Tan kuku...can still buy? or shoudl i get stg that is dividend yielding for now?
thank u for any opinion. 
Keep a look out. Good news on the way.
Vest and good luck.
Have to be patient -  with the dual listing in austraila date coming close  (in june) and more project announcement on the way, I believe it will moving up slowing in weeks to come. Be patient and you will be rewards handsomely.I just brought 500k shares yesterday at $0.39
Do remain vest and good luck.
Ausgroup is such a disapointment.
Today should trade well above $0.42 .  Not forgetiing that CIMB-GK MAINTAINED its “Buy” call with a target price of 96 cents on Ausgroup, citing its relatively cheap valuation in the offshore & marine universe.
Do vest and good luck.
It is just panic selling. Changing of Directorship is common. So long the company had a good management team   that is capable then it should be ok.
I have brough 500k  at $0.39. Have confident it should move slowing to TP of $0.52 with the dual listing in June and also more project on the way.
Be vest and good luck.
CIMB Squawk Box... |
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Ausgroup (AUSG SP S$0.39 NEUTRAL TP S$0.52) |
What happened:
8m shares changed hands and the counter fell 8% on the back of unexpected resignation of Ausgroup MD, John Sheridan. John has been with the group for three years. Stuart Kenny (ex-MD for four years until Jan 2008 & current Non Executive Director) will take over the helm temporarily. Ausgroup will also commence search for a new CEO.
What we think:
Though John had a somewhat shaky time with the group (his appointment coincided with the Financial Crisis), it seemed that he has managed to steady the boat recently. Initial talks with Stuart suggest that business will be as usual. Plans for a dual-listing will go ahead. Process improvements and people performance initiatives which John had implemented during his time will remain. However, judging from market's reaction, we agree that the street and us need more clarity in where the company will be going forward.
What you should do:   Pending review, we keep our earnings estimates and NEUTRAL call.
Though the change in management was surprising, it does not change the brighter prospects for the company. Order pipeline remains healthy and we anticipate a better FY12 for the group.
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No use still many ppl selling...
WA company wins $50m Gorgon contract
Josh Jerga
May 23, 2011 - 5:39PM
AAP
West Australian opposition claims that local companies are being sidelined for work on major projects has been undermined with a WA-based fabrication and construction company being awarded a $50 million contract for the country's largest ever gas project.
Chevron Australia's managing director, Roy Krzywosinski, joined WA Premier Colin Barnett in announcing AGC Industries has been awarded the contract to supply pipe spools - steel constructions used to connect pipe - for the Gorgon project.
The $43 billion Gorgon project off the northwest WA coast is one of the world's largest natural gas projects.
Advertisement: Story continues below
The contract between the project's dominant partner Chevron and AGC, a subsidiary of AusGroup, involves the fabrication of about 7500 tonnes of pipe spools and will result in the employment of 150 people - 50 of the positions are new jobs.
" I think it's a great day for AGC, it's a great day for Chevron and it's an encouraging sign for the future of local fabricators," Mr Krzywosinski told reporters at the industrial hub of Henderson, south of Perth.
" I think it demonstrates local fabrication can compete on an international basis as this contract was bid for by both local and international fabricators."
He said he was optimistic there would be similar announcements in the not too distant future.
The WA opposition has attacked the government for letting work on major resources go offshore and have introduced a private member's bill to address the issue.
The Skilled Locals Jobs Bill would force companies to reveal the level of local work on major state projects and if they have used offshore contractors, the reasons why.
AusGroup's CEO, John Sheridan, said he believed the tendering process for the Chevron project had been conducted in a " full, fair and open way" .
" The way we look at securing a tender, it's all to do with capacity capability," Mr Sheridan told reporters.
Mr Krzywosinski said Chevron had so far awarded $10 billion worth of contracts to local firms on the Gorgon project.
He said Chevron was working with government and industry to break down the scope of some of the large contracts to ensure it can meet the capabilities of the local industry.
" It's in our best interest that we do have a very vibrant, local content, local industry that can support our operations for the next 30 years (because) construction is only a five-year period," Mr Krzywosinski said.
Mr Barnett said he believed WA's fabrication and manufacturing sector would continue to see more activity in the coming months.
© 2011 AAP
AGC Secures $50m Gorgon Pipe Spools Contract. 23 May 2011.
AusGroup’s subsidiary, AGC Industries Pty Ltd (‘AGC’), a leading Australian owned fabrication, construction and integrated services company, has been awarded a major fabrication contract by Chevron Australia to manufacture pipe spools for the Gorgon Project, one of the world's largest natural gas projects and the largest single resource natural gas project in Australia’s history.
The contract, valued at approximately AU$50 million, will take place over 18 months commencing in the second half of 2011. The scope of work covers receiving material, fabrication, storage, coating and testing of 8,200 pipe spools of various diameters, weighing approximately 7,500 tonnes.
“We are extremely pleased to support Chevron as the operator of the historic Gorgon Project,” said John Sheridan, AusGroup Managing Director and CEO. “Today marks an important milestone for AGC - this opportunity strengthens our growth and delivery aspirations within the Australian natural resources industry.”
“The experience and capabilities of AusGroup will enable the project to be delivered safely and effectively, while maintaining our Perfect Day safety philosophy.”
 
AGC will combine the use of its fabrication facilities in Kwinana and Henderson, located 50 kilometres south of Perth, to accommodate the future growth of the Gorgon Project throughout construction.
The Greater Gorgon gas fields contain resources of about 40 trillion cubic feet of gas, Australia’s largest-known gas resource, located between 130km and 200km off the north-west coast of Western Australia. 
With this contract award, AusGroup’s order book now stands at AU$288 million.
i believed ausgroup will move upwards soon.. just went in quite abit, hope by 2 weeks the return will be fruitful
 
chiong ar!!!!!!!!
I have invested a fair bit with Ausgroup and just wondering at what level I should be start selling?
Have to be patient. When the dual-listing is completed in June 2011, the share price will then reach new high.So must wait for two more months.
Vest and good luck
Okay, now we all sell to CIMB so that 0.96 TP can reach immediately.....   Are they buying now?
pharoah88 ( Date: 13-Apr-2011 09:41) Posted:
W O W
S$0.96
tankuku ( Date: 12-Apr-2011 13:24) Posted:
AUSGROUP: Prospects lifted by hot iron ore prices Written by Sim Kih Sunday, 11 April 2010 14:00
 
CIMB-GK MAINTAINED its “Buy” call with a target price of 96 cents on Ausgroup last week, citing its relatively cheap valuation in the offshore & marine universe.
The report was triggered by a structural shift in iron-ore markets in the past couple of weeks as the world’s largest 3 mining companies, Vale, BHP Billiton and Rio Tinto, announced a switch to setting the price of iron ore contracts every 3 months, ending a 40-year system of annual pricing.
The new price system will lift the cost of iron ore to Asian steelmakers to about US$110-$120 a ton for April-June contracts, up 80% to 100% from the US$60 level at which the 2009-10 annual contracts were settled.
CIMB-GK analyst Yeo Zhibin believes that higher iron-ore prices could accelerate capex spending in the mineral resource sector in Western Australia, benefiting specialist construction service companies like Ausgroup.
However for the high profile Gorgon oil & gas project, Australian fabricators such as Ausgroup have been priced out by Asian competitors due to a rising A$.
CIMB-GK expects Ausgroup’s earnings for the financial year ending Jun 2010 to grow 90% year-on-year, given its strong order book of A$470 million.
It has a target price of 96 cents based on 13x CY11 P/E, Ausgroup’s trading average since listing.
”We see stock catalysts from an acceleration in orders wins from LNG and mineral projects, improved margins and further sets of strong results.
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W O W
S$0.96tankuku ( Date: 12-Apr-2011 13:24) Posted:
AUSGROUP: Prospects lifted by hot iron ore prices Written by Sim Kih Sunday, 11 April 2010 14:00
 
CIMB-GK MAINTAINED its “Buy” call with a target price of 96 cents on Ausgroup last week, citing its relatively cheap valuation in the offshore & marine universe.
The report was triggered by a structural shift in iron-ore markets in the past couple of weeks as the world’s largest 3 mining companies, Vale, BHP Billiton and Rio Tinto, announced a switch to setting the price of iron ore contracts every 3 months, ending a 40-year system of annual pricing.
The new price system will lift the cost of iron ore to Asian steelmakers to about US$110-$120 a ton for April-June contracts, up 80% to 100% from the US$60 level at which the 2009-10 annual contracts were settled.
CIMB-GK analyst Yeo Zhibin believes that higher iron-ore prices could accelerate capex spending in the mineral resource sector in Western Australia, benefiting specialist construction service companies like Ausgroup.
However for the high profile Gorgon oil & gas project, Australian fabricators such as Ausgroup have been priced out by Asian competitors due to a rising A$.
CIMB-GK expects Ausgroup’s earnings for the financial year ending Jun 2010 to grow 90% year-on-year, given its strong order book of A$470 million.
It has a target price of 96 cents based on 13x CY11 P/E, Ausgroup’s trading average since listing.
”We see stock catalysts from an acceleration in orders wins from LNG and mineral projects, improved margins and further sets of strong results.
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No venture no gain
No risk no pain.
No money no talk
Played very well.
AUSGROUP is the star of our small cap portfolio in the five trading sessions to yesterday, surging by a whopping 22 per cent. It had more potential to cross $0.6 mark with the proposal to dual-list in Australia.
Do vest and good luck.
Keep a look out. Last minutes haevy buying up by BB may push it crosing $0.54 today.
 
Vest and good luck