I started serious Investing Journey in Jan 2000 to create wealth through long-term investing and short-term trading; but as from April 2013 my Journey in Investing has changed to create Retirement Income for Life till 85 years old in 2041 for two persons over market cycles of Bull and Bear.

Since 2017 after retiring from full-time job as employee; I am moving towards Investing Nirvana - Freehold Investment Income for Life investing strategy where 100% of investment income from portfolio investment is cashed out to support household expenses i.e. not a single cent of re-investing!

It is 57% (2017 to Aug 2022) to the Land of Investing Nirvana - Freehold Income for Life!


Click to email CW8888 or Email ID : jacobng1@gmail.com



Welcome to Ministry of Wealth!

This blog is authored by an old multi-bagger blue chips stock picker uncle from HDB heartland!

"The market is not your mother. It consists of tough men and women who look for ways to take money away from you instead of pouring milk into your mouth." - Dr. Alexander Elder

"For the things we have to learn before we can do them, we learn by doing them." - Aristotle

It is here where I share with you how I did it! FREE Education in stock market wisdom.

Think Investing as Tug of War - Read more? Click and scroll down



Important Notice and Attention: If you are looking for such ideas; here is the wrong blog to visit.

Value Investing
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Friday 29 June 2007

Monday 25 June 2007

News on Keppel Corp

25-June-2007

Keppel secures rig contracts worth US$534 million
Rigs to be built to Keppel FELS’s proprietary KFELS N Class jackup and SSDT 3600E semisubmersible drilling tender designs.

Keppel FELS Limited (Keppel FELS), a wholly-owned subsidiary of Keppel Corporation Limited, has secured two rig contracts amounting to US$534 million (approximately S$820 million).

The contracts are for the construction of a drilling-cum-production jackup rig and a deepwater drilling tender rig. Both rigs will be built to Keppel’s proprietary design.

The first contract, worth US$400 million, is for the third KFELS N Class jackup rig for Skeie Drilling and Production, a member of the Skeie Group.

The contract is subject to certain conditions being met by 9 July 2007.

The new rig is expected to be delivered in the fourth quarter of 2010.

Said Mr Choo Chiau Beng, Chairman & CEO of Keppel Offshore & Marine (Keppel O&M), parent company of Keppel FELS, “Having three KFELS N Class orders in less than half a year is strong endorsement for this innovative design. It reinforces our confidence that the rig has what it takes to meet market requirements for highly robust rigs in the North Sea type of conditions.”

Developed by Keppel O&M’s R&D arm, Offshore Technology Development, the KFELS N Class jackup rig will provide customers the flexibility of having a unit that can undertake drilling and production activities concurrently. Capable of operating in water depths of up to 430 feet and drilling depths of down to 35,000 feet, the rig will have features to readily accept process modules for production activities. The design is in full compliance with the demanding and technically challenging requirements of rigs operating in the Norwegian sector of the North Sea.

The second contract is from repeat customer Seadrill Asia Limited (Seadrill Asia) for a semisubmersible drilling tender (SSDT) at US$134 million.

Slated for delivery at end 2009, the drilling tender will be built to Keppel FELS’s proprietary design, the KFELS SSDT™ 3600E.

Mr Choo added, “We are glad to continue our support of Seadrill in meeting their drilling requirements by delivering quality products on time and within budget. It is our aim to be the service provider of choice for our customers through innovation, engineering and excellent execution of projects.”

This new tender rig will be an enhancement of the last two KFELS SSDT™ 3600 design rigs, West Setia and West Berani, which Keppel FELS built for Seadrill Asia. The enhanced version includes modifications such as increased crane load capacity to 250 tonnes, four mud pumps and accommodation and services for 160 personnel.

The Keppel O&M group has built a total of five tender drilling rigs for Seadrill Asia, formerly Smedvig, since 1994. All the five rigs are gainfully deployed across the world. The first rig, West Pelaut, was voted ‘Shell Platform Rig of the year’ in 2006 for consistent long term performance. The last rig, West Berani, was successfully put into operation in Kuantan, East Malaysia, immediately after its delivery in December 2006.

Seadrill Asia’s parent company, Seadrill Limited, has also ordered four jackup rigs with Keppel FELS, of which three are currently under construction. The first of the four, West Ceres (ex Seadrill 3), was delivered on time and within budget in 2006.

The KFELS SSDT™ series is developed by Keppel O&M’s R&D arm, Deepwater Technology Group. A conventional drilling tender can only be deployed next to fixed platforms, but the KFELS SSDT™ series, with their enhanced capabilities, can operate in deepwaters up to 5,000ft alongside Spars and Tension Leg Platforms.

Keppel FELS is a wholly-owned subsidiary of Keppel Corporation Limited, through Keppel O&M, a leader in offshore rigs, shiprepair and conversion and specialised shipbuilding. Keppel O&M's near market, near customer strategy is bolstered by a global network of 20 yards in the Asia Pacific, Gulf of Mexico, Brazil, the Caspian Sea, Middle East and the North Sea regions. Integrating the experience and expertise of its yards worldwide, the group aims to be the provider of choice and partner in solutions for the offshore and marine industry.

The contracts are not expected to have any material impact on the net tangible assets or earnings per share of Keppel Corporation Limited for the financial year ending 31 December 2007.

Friday 8 June 2007

Portfolio update - add more DBS

Thursday 7 June 2007

Monday 4 June 2007

My Portfolio Update









I have restarted my portfolio update for Jun 07 as I have found an easier way to update by uploading it as an image rather than typing it out.
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