【Ezra 5DN 交流专区】以斯拉控股 EZRA HOLDINGS LIMITED

ginaseetu

SINGAPORE : Mainboard-listed marine services provider Ezra Holdings said its third quarter net profit rose 37 per cent on-year to US$25.7 million for the three months ended May 31.

Revenue for the three months jumped 82 per cent on-year to US$108.8 million.

Meanwhile, Ezra's 9months' net profit rose 26 per cent to US$54.5 million on the back of a4 per cent increase in revenue to US$244.3 million.

Turnover was lifted by higher revenue from its marine servicesdivision, which was offset by decreases in its offshore supportservices and deepwater services divisions.

Looking ahead, Ezra saidit is cautiously optimistic that the oil and gas industry will bepositive in the next 12 months, barring unforeseen circumstances.

It also expects demand in medium- and large-sized offshore support vessels to continue to be good.

不再回头

来了来了。 要冲了。。。

k41

现在CR，15 号CX。。。。
有谁知道CX是什么？？

zhixuen

CR = CUM RIGHT。
EZRA 之前刚刚公布RIGHT ISSUE 5张可以SUBSCRIBE 1张 每张$1.18 。 15号 后  XR。
RIGHT 对公司绝对不是好事，因为是SHORT TERM LIABILITIES。 一些投资者不愿意SUBSCRIBE的也会抛售股票。

icy97

从事工程与装配业务　以斯拉子公司获准上市
http://www.zaobao.com.sg/cs/cs120830_006.shtml

（2012-08-30）
以斯拉控股（Ezra Holdings）从事工程与装配业务的子公司Triyards Holdings获得新交所有条件批准，将在主板挂牌上市。

以斯拉控股将以10配1的比例，派发33％的Triyards股票给以斯拉控股的股东。因此Triyards挂牌后，以斯拉控股仍掌握Triyards的67％股权。

以斯拉控股也宣布星狮集团食品与饮料部前总裁及亚太酿酒厂前总裁许宝忠，将在9月1日受委为公司高级顾问，并在今年底的常年股东大会上获提名接替黎良子出任公司主席。黎良子将留在董事会担任非执行、非独立董事。

icy97

以斯拉希望子公司10月11日前可上市
http://www.zaobao.com.sg/cs/cs120904_004.shtml

（2012-09-04）
已获得新加坡交易所有条件批准，将在主板挂牌上市的以斯拉控股（Ezra Holdings）子公司Triyards Holdings，希望在10月11日之前可以开始进行交易。

Triyards是以斯拉控股旗下从事工程与装配业务的子公司，这次的挂牌上市并不会进行任何额外的公开售股活动，而是以斯拉控股将通过以10配1的比例，派发33％的Triyards股票给以斯拉控股的股东。其余67％股权将由以斯拉控股持有，它依然是Triyards的大股东。

以斯拉控股董事经理黎才德表示，让Triyards上市能够使它有着增长的机会。他也是Triyards主席兼非执行董事。

他说，Triyards将继续专注在研究自己的船只设计，同时开拓其他业务如修船业务与销售离岸设备等。它预计明年1月就可拥有自己的浮船坞，开始踏入修船业务。

公司也将尝试把业务开拓到新市场，如巴西与澳大利亚。Triyards目前拥有三座船厂，两座位于越南而另一座位于美国休斯敦。

对于开始进行交易的日期，黎才德说：“我们依然寻求在10月11日之前或10月中旬上市，这是我们目前有的时间表。”

Triyards预计会有2亿9501万股，意味着以斯拉控股的股东将掌握其中的约9735万股。公司截至去年8月底的每股净资产值为24.7美分，而2011年的每股盈利为2.87美分。

Triyards首席执行长黄必雄则指出，公司目前的订单上仍有五艘船，包括锚作拖引供应船（AHTS）、平台供应船（PSV）与自升式平台（SEU）等。其中三艘将在今年底交付，另两艘则在2014年交付。这些未交付的总订单价值多达6亿1310万美元。

黎才德对于公司未来的业务发展表示有信心。他说：“离岸设备的资本开销每年大约6000亿美元，预计从2012至2013的年度增长率将达10％，而且这个趋势将会持续，对起重机、绞盘、平台等的需求也将继续增长。”

此外，他相信越南将在石油与天然气行业中扮演更重要的角色，认为越南的市场在近期内也将继续增长。

jim5041

你买了吗？

fbb05

怎样得到Triyards的股票？

icy97

以斯拉控股取得4,700万美元合约巩固区域地位
http://www.sharesinv.com/zh/articles/34512/

2012年10月01日
为油气业服务的国际离岸承包商兼综合离岸方案商以斯拉控股(Ezra Hldgs)宣布，其深海建筑部门取得价值4,700万美元的合约。公司的深海营运子公司EMAS AMC获越南Petroleum Technical Services Corporation Mechanical and Construction(PTSC M&C)公司颁发该合约，为位于越南的Dua深海油田运输及安装设施。该油田目前正进行与Chim Sao油田设施相互连接的工程。预期合约将于3Q12展开，深海安装工作则将于1Q13开始。公司的董事经理黎才德表示，公司早前参与了PTSC M&C的Chin Sao项目，并且非常期待再次与它合作。黎才德认为，“因为亚洲的离岸生产活动逐渐转向深海地带，所以本区域为深海服务带来可观的增长良机。”他进一步表示，公司“具备强大的能力来乘上这股需求上升的趋势”。

启示：公司曾经参与此次Dua项目附近的Chim Sao项目，取得这份新合约将有助加强公司与PTSC M&C之间的合作关系，同时提高公司在本区域的知名度。

Ezra up 0.4%; Lands $58m contract
http://www.theedgesingapore.com/the-daily-edge/business/40229-ezra-up-04-lands-58m-contract.html

Mon, 1 Oct 13:23
Ezra is up 0.4% at $1.23, outperforming the STI’s 0.4% decline slightly after the company said its subsea construction division EMAS AMC landed a US$47 million ($58 million) contract from PTSC M&C for work in the Chim Sao Field in offshore Vietnam.

While the contract offers a sentiment boost, the stock may not be reacting much as the relatively small size doesn’t move the needle much.

OCBC estimates Ezra’s net subsea orderbook at around US$1.05 billion, with tendering activity remaining buoyant.

“As offshore production in Asia gradually moves into deeper waters, Ezra is well-positioned to tap the expected increase in demand for subsea services,” the house says in a note, keeping a Buy call with
$1.48 fair value.

icy97

Ezra wins contracts from South Korean clients totalling US$245m
http://www.theedgesingapore.com/the-daily-edge/business/41046-ezra-wins-contracts-from-major-south-korean-clients-totalling-us245m.html

Thu, 8 Nov 19:04   
Ezra Holdings said its subsea arm EMAS AMC has secured two contracts with major South Korean clients worth a combined total of about US$200 million ($245 million).

The first contract was awarded by STX Offshore & Shipbuilding for the provision of engineering and project management work in offshore Africa. It will start with immediate effect. Offshore execution is scheduled to start in 2015.

For the second contract, Ezra’s EMAS AMC has entered into an agreement with DSME for one of its accommodation and hook-up support vessels also for operations in offshore Africa. Offshore operations are expected to start in the first quarter of 2014.

“The contract wins come on the back of an eventful year that saw Ezra’s revenue approaching its first billion dollar mark,” said Lionel Lee, managing director of Ezra.

icy97

Ezra wins $332.5m charter contract from Hess E&P Malaysia
http://www.theedgesingapore.com/the-daily-edge/business/41139-ezra-wins-3325m-charter-contract-from-hess-eap-malaysia.html

Wed, 14 Nov 23:38
Ezra Holdings’s production division, EOC Limited, has secured its first contract from Hess Exploration and Production Malaysia B.V. for the charter of the group’s Floating, Production, Storage and Offloading (FPSO) vessel, the Lewek Arunothai.

The award has a value of US$272.1 million ($332.5 million) for three years with the potential of another US$271.1 million should the full extension of three years be exercised.

Under the contract, FPSO Lewek Arunothai, will be deployed on a three-year fast-track gas production project in the North Malay Basin, Malaysia. The FPSO will be used to support early production activities and is targeted to be on station from mid-2013.

EOC is the 45.7% owned associate company and production division of the group. Hess E&P Malaysia, is part of a global energy group that is engaged in oil & gas (O&G) exploration and production as well as refining and marketing of refined petroleum products, natural gas and electricity.

LLLLL

Bt why still keep on falling after XE?

No.AMD

@LLLLL   
大大，有好消息不代表就一定涨，有坏消息也不代表一定是跌的！

icy97

Value emerges in Ezra after selloff: Barclays
http://www.theedgesingapore.com/the-daily-edge/business/41194-value-emerges-in-ezra-after-selloff-barclays.html

Mon, 19 Nov 16:19
Value has emerged in Ezra’s shares after recent weakness, Barclays says, noting the decline came despite the company’s recent announcements of contract wins.

“The fundamentals for the company continue to remain strong with its recent order momentum and improvement in profitability. With the shares currently trading below regional and global peers, we see this as a good opportunity for investors to gain leverage to a company we expect to deliver improving profitability and strong earnings growth in the medium term.”

It notes Ezra trades at 8.1x 2013 P/E, a discount to regional and international peers’ 10x and 12x respectively. Barclays expects Ezra’s 2012-15 EPS CAGR at around 40%; “this strong earnings growth outlook is not yet reflected in the shares.”

It expects new order momentum to continue into 2013 after the four subsea-segment contracts the company won over the past two months, as the industry continues to see a high volume of subsea tenders. It rates the stock at Overweight with $1.65 target. The stock is up 1.0% at $1.01.

LLLLL

No.AMD 发表于 18-11-2012 11:42 PM
@LLLLL   
大大，有好消息不代表就一定涨，有坏消息也不代表一定是跌的！

那AMD大大，什么原因使这支股那么疲弱呢？
相对的，EZION Holding也是同业，利好消息也是不相上下，但为什么它酱强劲？

对不起，我还是新鸟，请多多指教。

No.AMD

LLLLL 发表于 19-11-2012 11:36 PM
那AMD大大，什么原因使这支股那么疲弱呢？
相对的，EZION Holding也是同业，利好消息也是不相上下，但为 ...

嗨，你好！建议你先去读江恩的华尔街45年！

icy97

Ezra Holdings tipped a 'buy' at $1.05 by DBS Vickers
http://www.theedgesingapore.com/the-daily-edge/business/41811-ezra-holdings-tipped-a-buy-at-105-by-dbs-vickers.html

Wed, 5 Dec 16:52
DBS Vickers expects Ezra’s subsea order wins to ramp up across FY13/14 to US$1b/US$1.5b ($1.2b/$1.8b), following strong year-to-date order wins of US$315m, as it bids for more than US$4b of subsea work globally. Its sizeable backlog of around US$1.1b ensures that its subsea fleet is well booked through FY13, driving earnings upside from positive operating leverage.

The research house also sees improving demand-supply dynamics in the OSV charter markets, supporting the firming of OSV day rates since 2011. “Along with lower expected vessel maintenance downtime in FY13/14 and management’s focus on boosting operational efficiency, we expect gross margin expansion at the Offshore Support division of 5.5ppt/3.1ppt across FY13/14.”

Recently, Ezra refinanced the bulk of its outstanding convertible bonds, easing concerns over its ability to refinance these. It will also refinance near term debt with the majority of the proceeds raised from the recent issue of notes and perpetual securities. More possible non-core asset disposals would further ease its balance sheet.

“After a series of disappointing quarterly earnings performance across FY12 on poor offshore support performance and higher admin expenses, we believe the group is on a firmer footing and is poised to deliver earnings recovery of 203%/72% in FY13/14F,” says DBS Vickers.

The research house has a target price of $1.30, as it bets on recovering earnings to drive upside. “Our TP for Ezra is pegged to 0.9x FY13 P/BV vs. its historical average of 1.9x. At 0.8x FY13 P/BV, we believe most of the negatives are priced in. We resume coverage on Ezra with a BUY call as its stabilising and recovering earnings across FY13/14 should lead to a narrowing discount to book value, driving upside from current price levels.”

icy97

OCBC downgrades Ezra to 'hold'
http://www.theedgesingapore.com/the-daily-edge/business/42285-ocbc-downgrades-ezra-to-hold.html

Tue, 15 Jan 13:05  
OCBC Investment Research downgraded Ezra Holdings to ‘hold’ from ‘buy’ and kept the target price at $1.30, after the offshore services firm reported weak quarterly earnings.

At 11:29 a.m., Ezra shares were down 4% at $1.20, but have gained around 5% since the start of the year, compared to the FTSE ST Oil & Gas Index’s 1.8% rise.

Ezra’s net profit for the three months ended November fell 49% to US$6.8 million ($8.3 million) from a year ago, hurt by higher administration expenses and lower profits from associated companies.

OCBC estimates that Ezra’s core net profit for the quarter was around US$4.3 million, below its expectations and 16% lower than a year ago.

However, OCBC expects Ezra to see a pick-up in the second half of the year, as margins in the subsea business improve and as the division sees estimated new order wins of about US$925million in fiscal 2013.

icy97

以斯拉控股的1Q13净利跌49%
http://www.sharesinv.com/zh/articles/36685/

2013年01月15日
以斯拉控股(Ezra Hldgs)的员工成本及财务开支均提高蚕食盈利，因此其截至2012年11月30日的首季净利下跌49.1%至680万美元，上一年同期则是1,330万美元净利。开支提高是由于深海服务部门为承接新项目和船只而增聘人手。收入则从1Q12的1亿8,050万美元激增54.4%至2亿7,870万美元，由于子公司Emas AMC的深海业务活跃，其贡献占9,820万美元收入增幅的近88%。离岸支援服务部门也取得良好表现，其船舶包租收入提高为公司的销售表现带来额外的900万美元贡献。公司表示，其现代化建筑船队独家包租了额外的两艘铺管船，让深海服务部门能有效率地铺设普通输送管及直径高达30英寸的深水输送管。

启示：公司的拓展计划及其深海臂膀持续加强能力将让它能稳稳地乘上全球深海活动的快车。公司也在昨天宣布赢得总值超过1亿6,000万美元的多份合约，从而证实其各业务的全能优势。

icy97

CIMB tips buy opportunity in Ezra, Swiber
http://www.theedgesingapore.com/the-daily-edge/business/42567-cimb-tips-buy-opportunity-in-ezra-swiber.html

Thu, 31 Jan 18:04  
While Singapore's offshore oil-servicer plays may see near-term weakness after Saipem's (SPM.MI) profit warning, it's too pessimistic to assume similar fates, CIMB says.

It notes Saipem's warning was due to lower margin contracts in the Mideast, Nigeria and Algeria, with award delays in Venezuela, Nigeria and Iraq.

"We believe the profit warning is company-specific and an act to 'clean up' as Saipem was recently queried by the Italian public prosecutor for alleged corruption in Algerian contracts," CIMB says; although Saipem has denied the allegations.

Singapore offshore-service players Ezra (5DN.SG) and Swiber (AK3.SG) have limited exposure to onshore E&C, while Ezra's subsea SURF installation's focus is different from Saipem's, it notes. "Ezra's main projects are also in less-risky regions such as the North Sea and Gulf of Thailand. The small scale of its projects of US$50-$80 million ($62-99 million) also limits aggressive price slashing by Ezra, we believe. Swiber's projects are largely in India and South-East Asia."

It views Ezra and Swiber as still cheap vs their five-year P/E and P/BV means. "Industry domino effects from Saipem could create near-term pressure on their stocks, but we see opportunities for accumulation." Swiber is down 1.4% at $0.705; Ezra is down 0.4% at $1.195.