PEC

[winston]

Not vested. From Phillips:-

PEC Ltd – 2QFY11 Results

Recommendation: Buy
Previous close: S$1.17
Fair value: S$1.50


· Revenue increased by 3.2% to S$110.0mn, PATMI increased 10.9% to S$10.2mn.

· Revenue & PATMI above our expectations

· Sales boosted by significant amount of variation orders for the quarter

· Order book: S$186mn (31Dec10), c.S$250mn (including latest contract win)

· Upgrade recommendation to Buy with revised target price of S$1.50.

[winston]

Not vested

Singapore Hot Stocks-PEC falls on weak earnings

SINGAPORE, Aug 25 (Reuters) - Shares of Singapore oil and gas services firm PEC Ltd fell as much as 9 percent on Thursday to a one-year low after the company reported weak quarterly earnings.

At 0253 GMT, PEC shares were down 7.3 percent at S$0.83 with 2.8 million shares changing hands. This was nearly five times its average daily volume over the last five sessions.

PEC said on Wednesday its net profit fell 64 percent in the fourth quarter to S$3.5 million, hurt by a drop in sales and losses from joint ventures.

CIMB Research downgraded the stock to neutral from outperform and cut its target price to S$0.93 from S$1.58, citing weaker-than-expected earnings due to losses from associates.

The brokerage also lowered its earnings estimates for PEC for fiscal 2012-2013 by 25-28 percent.

Source: Reuters

[iam802]

and I thought we have a separate thread for the "President Election Committee"

[behappyalways]

It will be completed by April 2016.


PEC clinches $132m refinery contract in the Middle East
http://sbr.com.sg/energy-offshore/more- ... iddle-east

[behappyalways]

PEC falls 3.6% after client goes into receivership
http://www.theedgemarkets.com/en/node/232734

[behappyalways]

PEC issues net loss warning for FY15
http://sgx.i3investor.com/servlets/fdnews/54465.jsp

[behappyalways]

PEC sinks into the red on JAC debt impairment, halves dividend
http://sgx.i3investor.com/servlets/fdnews/54550.jsp

[winston]

not vested

Engineering and maintenance services firm PEC, for example, had $148 million in net cash at the end of last year. Its market capitalisation, in comparison, is close to $180 million.

That means investors can buy PEC’s business — which serves the oil and gas, petrochemicals, pharmaceuticals, and oil and chemical terminals industries in Asia — for about $32 million.

Is that a bargain? KGI Securities analyst Joel Ng thinks so.

PEC’s share price “severely undervalues the group’s profitable businesses”, Ng says in a report dated Feb 21.

Meanwhile, DBS Equity Research analyst Ho Pei Hwa thinks PEC is an attractive privatisation candidate. It has a massive cash hoard and minimal debt. And its founders, the Ko family, have a 65% stake in the company.

Source: The Edge

[behappyalways]

PEC posts 59% drop in 3Q earnings to $1.27 million
https://www.theedgesingapore.com/pec-po ... 27-million

[behappyalways]

PEC clinches $250 mil worth of new contracts in Asia, Middle East
https://www.theedgesingapore.com/pec-cl ... iddle-east