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
Dividend/Income Investing
Technical Analysis and Charting
Stock Tips

Monday 3 October 2011

Keppel FELS wins order for Safin’s first KFELS B Class jackup rig worth US$199 million

Keppel FELS Limited (Keppel FELS) has secured a contract for its high-specification KFELS B Class rig from Safin Gulf FZCO (Safin) worth US$199 million.


Scheduled to be delivered to Safin in 3Q 2012, the rig will be a refurbishment and upgrade of a KFELS B Class jack-up rig that Keppel FELS purchased earlier this year.

The high-specification KFELS B Class rig will be installed with offline stand building features. It will also have a full 15,000 psi BOP system, 70-feet cantilever outreach, with upgraded mud pit storage capacity of 4,000 bbls and be able to accommodate up to 150 personnel.

Mr Raimonds Namikis, Executive Vice President of Safin said, "The high-specification KFELS B Class is a proven design and with the tight jack-up market, we are delighted to be able to receive it much earlier than if we were to place a new order. In working with Keppel, we are assured of the effectiveness of their proprietary designs and the reliability of their project management. This will enable Safin to meet the needs of our customers and kick start the programme of our premium rig fleet."

Mr Wong Kok Seng, Managing Director of Keppel FELS said, "With the refurbishment and upgrade of this jackup, we are able to provide a high-specification rig on a fast-tracked schedule. Such jack ups are in high demand, especially for those scheduled for delivery in 2012.

"We are pleased to embark on a new partnership with Safin and look forward to supporting them as they expand their offshore fleet and presence in the Middle East. Our keen understanding of our customers' businesses enables us to anticipate their needs and tailor the appropriate products and services for them. "

The above contract is not expected to have any material impact on the net tangible assets and earnings per share of Keppel Corporation Limited for the current financial year.

No comments:

Post a Comment

Related Posts with Thumbnails