Post Reply
61-80 of 175
taking off liao
Want to buy more also very difficult, no liquidity
a few weeks ago I managed to grab some at 56 when someone put out for sale.
It is a creme de la creme of oil and gas stocks.
a few weeks ago I managed to grab some at 56 when someone put out for sale.
It is a creme de la creme of oil and gas stocks.
shk363 ( Date: 20-May-2022 10:19) Posted:
|
hidden gem. no takers
PEC lands new contracts worth S$80m
ENGINEERING firm PEC has won new contracts totalling S$80 million for engineering, procurement and construction (EPC) as well as mechanical works across various projects in the energy and chemicals, and the floating production storage and offloading (FPSO) sectors.
Among them are S$50 million in contracts awarded to its unit, PEC Process Systems, to provide EPC and commissioning of oil, water and gas-handling packages.
In Singapore, PEC has been contracted to provide mechanical works for an integrated manufacturing complex, it said in a filing to the Singapore Exchange on Thursday (May 19).
Robert Dompeling, PEC&rsquo s group chief executive officer, said: &ldquo The Russia-Ukraine conflict has elevated the risk of supply interruption and sent energy prices soaring. Consequently, global energy prices will continue to reflect the ongoing tightness in supply and volatility.
&ldquo However, we are cautiously optimistic about prospects for project works and maintenance in the energy, chemicals and storage terminals sectors over the medium term, and will continue to expand and deepen our capabilities in the &lsquo green&rsquo value chain to capture a share of the potential pipeline of projects coming on stream.&rdquo
The latest contracts are not expected to have a material impact on the group&rsquo s earnings for the financial year ending Jun 30.
Was this PEC' s Chinese subsidiary that had some governance issue last year? Or was it another subsidiary in China?
Joelton ( Date: 08-May-2021 20:40) Posted:
|
PEC disposes 25% stake in Huizhou Tianxin Petrochemical Engineering for consideration of RMB7.5 mil
PEC, the plant and terminal engineering specialist, has, on May 6, entered into a sale and purchase agreement (SPA) with Huizhou Qi An Enterprise Management, Huizhou Mu Sheng Enterprise Management and Huizhou Ze Xi Enterprise Management (collectively known as the purchasers), for the sale of its 25% stake in its wholly-owned subsidiary, Huizhou Tianxin Petrochemical Engineering (Tianxin) for a total cash consideration of RMB7.5 million ($1.5 million).
Of the total amount, Qi An, Mu Sheng and Ze Xi will each pay RMB3.6 million, RMB2.1 million and RMB1.8 million respectively.
The purchasers will have to transfer their respective consideration amounts to PEC within three months of the date of execution of the SPA.
PEC, on the same day, entered into a shareholders&rsquo agreement (SHA) with the purchasers in respect of the disposal.
Under the SHA, Tianxin will have a board of a maximum of four directors. PEC is entitled to appoint three directors, while the purchasers are entitled to appoint one director.
oil related play?
Sail to open sea soon ?
boat leaving liao
des_khor ( Date: 15-Feb-2021 17:20) Posted:
|
Got some action today ?
PEC
On Jan 7, PEC independent director David Wong Cheong Fook acquired 28,000 shares of the company for a consideration of S$10,976. At 39.2 Singapore cents per share, this increased his direct interest in PEC from 0.02 per cent to 0.03 per cent.
PEC is a plant and terminal engineering specialist with fabrication facilities spread across the world and serves four main sectors: energy, petrochemicals, oil & chemical terminals and pharmaceuticals.
Appointed to the PEC board in January 2014, Mr Wong is the chairman of the Audit and Risk Management Committee.
PEC to buy remaining 40% stake in Chinese subsidiary for 37.5 million yuan
TUE, JUN 16, 2020 - 9:23 PMMAINBOARD-LISTED plant and terminal engineering specialist PEC Ltd will consolidate its stake in a Chinese subsidiary for close to 37.5 million yuan (S$7.4 million), the board said on Tuesday, a day after the sale-and-purchase agreement was made.
PEC held a 60 per cent stake in Huizhou Tianxin Petrochemical Engineering, a service provider for the chemicals industry, which was set up as a joint venture in 2005.
But it is now buying out partners Sinopec Nanjing and Sinopec Luoyang, through which acquisition PEC will acquire the remaining 40 per cent of Tianxin. The duration of the joint venture, which the parties had agreed upon, has expired, the board added, in stating its reasons for the deal.
PEC, which aims to complete the purchase within 60 business days, added that it plans to continue Tianxin' s business in the long run and does not intend to introduce any major changes.
The price tag was reached on a willing buyer/willing seller basis, and the purchase will be funded by internal resources, the board added.
The value of the deal represents 6.33 per cent of PEC&rsquo s market value as at June 12. The net profit attributable to the assets was 7.72 per cent based on half-year results ended Feb 13.
Based on unaudited financial statements for the six months to Dec 31, 2019, Tianxin&rsquo s net asset value was nearly 73.2 million yuan, and its pre-tax profit for the period, 9.1 million yuan.
Had the acquisition been done on July 1, 2018, PEC&rsquo s pro forma earnings per share would have risen from 3.2 Singapore cents to 3.6 Singapore cents, the board also noted.
PEC shares closed flat at S$0.46 on Tuesday, before the announcement.
https://www.businesstimes.com.sg/companies-markets/pec-to-buy-remaining-40-stake-in-chinese-subsidiary-for-375-million-yuan
Now people now know start selling ?.....
Than later if the ex Jap staff find no good enviroment ,they resign will not get single compensation back....
ysh2006 ( Date: 31-Aug-2019 18:16) Posted:
|
The company just asborbed all Jap staff so no retrenchment benefits payout very smart way...
ysh2006 ( Date: 30-Aug-2019 16:03) Posted:
|
Totally no much forumers interested ....and topic discussion on this industry...those interested are in YZJ but still it chairman don't know go where helping what sort of investigation ? Or will he suddenly be charged don't know..
😑
ysh2006 ( Date: 30-Aug-2019 14:10) Posted:
|
The parent company invested in offshore rigs company Ezra and loss heavily ? this Jap company main business was in Chemicals plants and tankage terminals plus oil refinery ,why ventured into offshore oil rigs not their usual business field ?
shk363 ( Date: 30-Aug-2019 08:51) Posted:
|
the jap coy was dragged by local o&g powerhouse ezra last time iirc. where is ezra now?
ysh2006 ( Date: 30-Aug-2019 08:05) Posted:
|
The Japanese company was once a leading chemicals ,oil and gas leading EPC company, it is sad it come to this stage of closing down because of parent company loss money in other places....just like Hyflux, MF Global,Roley camera etc.
Why Japanese want to sell such low price now ?...any "lehlong" sale ?.
shk363 ( Date: 29-Aug-2019 18:07) Posted:
|