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Monday, 26 August 2013

Look at how strong 1H13 was for Singapore rig builders

Read? Look at how strong 1H13 was for Singapore rig builders

Keppel clinched S$3.5bn worth of contracts.

According to Phillip Securities, 1H13 has remained a strong quarter in terms of order wins for rig builders.

Here's more from Phillip Securities:

Keppel Corp bagged S$3.5bn worth of contracts, which included a S$1bn contract from SOCAR for a semi-sub rig based on its proprietary KFELS DSS 38M design, customized for the Caspian Sea’s harsh environment condition.

The group has a net order book of S$13.1bn, with visibility until 2019. Similarly, Sembcorp Marine fared well with total new orders of S$3.5bn, including S$750mn worth of contract for an ultra-high spec jack-up rig based on the proven Gusto MSC CJ70 design for Noble.

The group’s net order book is at a new record high of S$14.4bn. 
Createwealth8888's Guesstimation
If net margin is too squeezed by more competitions, Kep Corp's earning should be okay.

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