I see value in SemCorp Marine. I think TH will likely merge KC and SM. so can load up on SM if you have missed KC. I plan to buy SMI have tot of loading it today if down again. But morning halt trading.
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Keppel Corporation Shares
- Thread starter ckmpd
- Start date
KC may reach $10 next year
Temasek makes S$4.1 billion bid to take control of Keppel Corp
image: data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==
File photo of Keppel Harbour.
21 Oct 2019 04:15PM (Updated: 21 Oct 2019 06:55PM)
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SINGAPORE: State investor Temasek Holdings on Monday (Oct 21) offered to buy control of Keppel Corp in a S$4.1 billion deal that could hasten a consolidation in the rig building sector, which is battling the effects of low oil prices.
Temasek already owns 20.5 per cent of Keppel and said it would increase its stake to 51 per cent, subject to domestic and foreign regulator approvals which could take many months.
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"The partial offer reflects our view that there is inherent long term value in Keppel's businesses, notwithstanding the challenges presented by the current business and economic outlook," Temasek International's president Tan Chong Lee said in the statement.
If the deal is closed, Temasek will seek to work with Keppel's board to undertake a strategic review of its businesses.
READ: Temasek’s net portfolio value hits record high for third year running
READ: Keppel, Sembcorp Marine strike deals with embattled Brazil firm over oil rigs
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Temasek said it does not plan to delist or privatise Keppel, which would remain listed on Singapore Exchange.
An indirect fully owned subsidiary of Temasek will offer S$7.35 in cash for each Keppel share, a premium of nearly 26 per cent over the last traded price of S$5.84.
Shares in Keppel were halted for trading earlier on Monday. Morgan Stanley is the sole financier adviser to Temasek for the offer.
Keppel is involved in rig-building, property development, infrastructure and investments.
Keppel's offshore and marine unit, and Sembcorp Marine, the two local players, have been hit by a prolonged downturn in the global sector in the last five years as oil prices tumbled.
"There has long been talk of a potential restructuring of businesses under the Keppel Corp and Sembcorp Industries stable such as the merging of the offshore & marine yards," said Low Pei Han, senior research analyst at Bank of Singapore.
Both Keppel and Sembcorp Marine were among a host of firms caught up in Brazil's wide-ranging "Car Wash" corruption probe. In late 2017, Keppel's rig-building unit paid US$422 million to resolve charges it paid bribes to secure contracts in Brazil, including with indebted Brazilian firm Sete Brasil.
Keppel and Sembcorp Marine said earlier this month they had reached settlements with Sete Brasil over longstanding contracts to build drillships and rigs.
"It's a good time for them to increase their stake, get it past 50 per cent. But then it's not going to be a straightforward partial offer because of the regulatory requirements," said Justin Tang, head of Asian research at United First Partners.
Source: Reuters/aj/mi
Read more at https://www.channelnewsasia.com/news/business/temasek-holdings-keppel-corp-billion-shares-12020766
image: data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==
File photo of Keppel Harbour.
21 Oct 2019 04:15PM (Updated: 21 Oct 2019 06:55PM)
Share this content
SINGAPORE: State investor Temasek Holdings on Monday (Oct 21) offered to buy control of Keppel Corp in a S$4.1 billion deal that could hasten a consolidation in the rig building sector, which is battling the effects of low oil prices.
Temasek already owns 20.5 per cent of Keppel and said it would increase its stake to 51 per cent, subject to domestic and foreign regulator approvals which could take many months.
Advertisement
"The partial offer reflects our view that there is inherent long term value in Keppel's businesses, notwithstanding the challenges presented by the current business and economic outlook," Temasek International's president Tan Chong Lee said in the statement.
If the deal is closed, Temasek will seek to work with Keppel's board to undertake a strategic review of its businesses.
READ: Temasek’s net portfolio value hits record high for third year running
READ: Keppel, Sembcorp Marine strike deals with embattled Brazil firm over oil rigs
Advertisement
Temasek said it does not plan to delist or privatise Keppel, which would remain listed on Singapore Exchange.
An indirect fully owned subsidiary of Temasek will offer S$7.35 in cash for each Keppel share, a premium of nearly 26 per cent over the last traded price of S$5.84.
Shares in Keppel were halted for trading earlier on Monday. Morgan Stanley is the sole financier adviser to Temasek for the offer.
Keppel is involved in rig-building, property development, infrastructure and investments.
Keppel's offshore and marine unit, and Sembcorp Marine, the two local players, have been hit by a prolonged downturn in the global sector in the last five years as oil prices tumbled.
"There has long been talk of a potential restructuring of businesses under the Keppel Corp and Sembcorp Industries stable such as the merging of the offshore & marine yards," said Low Pei Han, senior research analyst at Bank of Singapore.
Both Keppel and Sembcorp Marine were among a host of firms caught up in Brazil's wide-ranging "Car Wash" corruption probe. In late 2017, Keppel's rig-building unit paid US$422 million to resolve charges it paid bribes to secure contracts in Brazil, including with indebted Brazilian firm Sete Brasil.
Keppel and Sembcorp Marine said earlier this month they had reached settlements with Sete Brasil over longstanding contracts to build drillships and rigs.
"It's a good time for them to increase their stake, get it past 50 per cent. But then it's not going to be a straightforward partial offer because of the regulatory requirements," said Justin Tang, head of Asian research at United First Partners.
Source: Reuters/aj/mi
Read more at https://www.channelnewsasia.com/news/business/temasek-holdings-keppel-corp-billion-shares-12020766
Is TH trying to push up the price of KC shares?
Now KC 6.74..after hitting high at 6.84. I will wait n see. Not loadg at tis level. But SM...can still load. Even SC can load imo.
opened this morning at $6.61. there shd be at least 10% upside potential within the next few months. Is that good enough returns for you? by Oct next year, you are almost guaranteed $7.34.Now KC 6.74..after hitting high at 6.84. I will wait n see. Not loadg at tis level. But SM...can still load. Even SC can load imo.
I expect that those who cant hold will take profits today. After these marginal holders are weeded out, KC will go up further, touching $7Now KC 6.74..after hitting high at 6.84. I will wait n see. Not loadg at tis level. But SM...can still load. Even SC can load imo.
20m shares traded in 100mins, up 16.1% at $6.78.Now KC 6.74..after hitting high at 6.84. I will wait n see. Not loadg at tis level. But SM...can still load. Even SC can load imo.
22million KC shares traded this morning. Will we see 25million shares sold by today?
massive 33.5m KC shares changed hands today.Now KC 6.74..after hitting high at 6.84. I will wait n see. Not loadg at tis level. But SM...can still load. Even SC can load imo.
wah... how cum u so pro PAP now....
why did u say i m pro pap?wah... how cum u so pro PAP now....
i love Singapore and am anti pap. pap is evil and immoral
Kc is definitely worth a hold until next year and dividends can be recieved however smm definitely not a buy you wont know what's the plan for it...it is still making losses...safest to buy is sci but also the slowest to rise...
Yes, KC pays at least 20c for dividends per yr. With today's closing price of $6.68 and TH's offer of $7.34, KC is poised to make at least a capital gain of 66cents and 20cents dividends. these add up to 86cents return on $6.68 investment which is 12.87% a yr
omg! upped 84 cents (+14.38%) today in one day!
Cimb so bullish ya.TP 8.36.....
KC has another upside potential of $1
https://www.businesstimes.com.sg/stocks/keppel-soars-on-temaseks-wings-lifting-sti-alongYes. Today counter top in value
will we see KC with good volume today and high price?
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