【BHIC 8133 交流专区】莫实得重工业

ThermoFisher

造船業務亮麗
寶實得重工業業績俏

（吉隆坡13日訊）造船業務亮麗增長，帶領寶實得重工業（BHIC，8133，主板工業）營業額及淨利暴漲。

該公司發佈文告指出，截至今年6月底次季，營業額報1億1140萬令吉，較去年同期勁揚逾3倍，淨利卻暴增21.9倍到3444萬6000令吉，每股盈利（EPS）為13.87仙。

該公司首半財年營業額也激揚逾4倍，報2億1238萬令吉，淨利則飆漲54.3倍到6558萬8000令吉，累積每股盈利達26.40仙。

該公司執行副主席拿督斯里阿末南利說：“我們將確保持續穩健成長，繼續專注在海事、重工業和防衛相關領域的優勢，並已開始拓展海外市場。”

他透露，截至6月底，該公司共持有總值7億令吉訂單，向08財年10億令吉訂單目標前進。

手持訂單7億

“獨資子公司寶實得檳城造船成功和馬石油（Petronas）續約，對集團帶來正面發展，擁有更多競標石油與天然氣合約的機會。”

益資利證券研究分析報告指出，成本高漲及營運開銷將會是寶實得重工業未來主要的挑戰。

不過，隨著該公司開始涉足石油與天然氣及海運領域內的新活動，料可持續穩健成長。

再者，寶實得重工業獲得馬石油（Petronas）更新執照，往后將更積極參與石油與天然氣領域的活動。

該行給于“買進”投資評級，目標價為6.30令吉。

寶實得重工業全日處于跌勢，最終報4.16令吉，跌14仙，全日交投僅1萬2400股。

傻人最有傻福

原帖由 ThermoFisher 于 13-8-2008 11:25 PM 发表
造船業務亮麗
寶實得重工業業績俏

（吉隆坡13日訊）造船業務亮麗增長，帶領寶實得重工業（BHIC，8133，主板工業）營業額及淨利暴漲。

該公司發佈文告指出，截至今年6月底次季，營業額報1億1140萬令吉，較去年 ...

給于“買進”投資評級，目標價為6.30令吉。

chookf

TA 證券給BHIC講了很多好評，
但最後將BHIC的目標價從11.45調低到7.05,
給BUY的評級．．．


其實這些話的真正意思是：－－
SELL!

blackcat98

blackcat98

原帖由 傻人最有傻福 于 13-8-2008 08:57 PM 发表
如果我没有用错方法POST，它天天都会自动UPDATE新的！！！

今天沒有update到??還是13號

傻人最有傻福

耐心等待吧....给系统一点时间....啊哈哈哈哈

blackcat98

04-09-2008: BHIC targets RM300m new jobs in 2H08
by Tony C H Goh
Email us your feedback at fd@bizedge.com


KUALA LUMPUR: Boustead Heavy Industries Corp Bhd (BHIC) plans to secure at least RM300 million worth of contracts in the second half (2H) of this year to bolster the group's order book that currently stands at RM3.3 billion, its deputy executive chairman and managing director Vice Admiral (Rtd) Datuk Seri Ahmad Ramli Mohd Nor said.

"BHIC's shipbuilding division is leading the way in securing additional jobs, and we are collaborating with various parties and developing vendors into niche players in order for us to compete in the regional and global market.

"Our yard in Ghana is also well placed to take advantage of the African countries' efforts to develop their offshore oil and gas fields, which will lead to an increase in demand for offshore support vessels," Ahmad Ramli said after Boustead Penang Shipyard Sdn Bhd sealed a deal for Sealink Shipyard Sdn Bhd to build hulls of two work barges yesterday.


Sealink International Bhd MD Yong Foh Choi (2nd from left) exchanges documents with Boustead Heavy Industries Corp Bhd MD Datuk Seri Ahmad Ramli Mohd Nor after signing an agreement to build hulls for two work barges in Kuala Lumpur yesterday. Looking on are Sealink International CEO Yong Kiam Sam (left) and Boustead senior GM for finance Peramjeet Singh.
BHIC, a subsidiary of Boustead Holdings Bhd, secured the contract for the barges worth RM205 million from Singapore-based Swire Pacific Offshore Operations Pte Ltd in May.

The construction of these work barge hulls, worth RM62 million will take place at Sealink's shipyard in Miri, and is expected to be completed by the second half of 2009. The remaining parts will be completed at the BHIC shipyard in Pulau Jerejak.

Sealink International Bhd chief executive Yong Kiam Sam said that the shortage of equipment, especially engines posed a challenge to the shipbuilding industry, even as the demand for vessels, especially from the oil and gas sector remained strong.

"The waiting period for vessels engines could be up to two years, and many industry players were also facing the credit crunch and backlog of orders. However, the need for vessel replacement and development of deepwater oilfields would continue to be strong.

"In view of the situation, we anticipate demand for vessels to pick by the second half of next year. We are spending around RM15 million to expand our yard by another 20 acres (8.09 hectares) from 40 acres currently to prepare us for this," he said.

The latest contracts from BHIC boosted Sealink's order book to around RM450 million, said Yong.

According to Ahmad Ramli, BHIC was committed to developing the local shipbuilding industry through collaboration with other players, as there was a need to consolidate the industry, given that local demand alone would not be not enough to encourage efficiencies and economies of scale in the use of resources.

"Looking at the examples of Korean and Japanese shipbuilders, their ability to outsource and collaborate with each other had helped them to be leading shipbuilders in the world, as they could source all the materials and services internally," he added.

Work on BHIC's current orders, including four patrol vessels for the government, would last the company until 2010. "In the long term, we hope to have a balance of orders for both commercial and military vessels," said Ahmad Ramli.

-CLEMENT-

分析员的话是相反的

blackcat98

A harbour of opportunityBY TEE LIN TAY
A year since the ‘resuscitation’ of its business and a relisting to mark a new chapter,Boustead Heavy Industries Corp is humming with activity
NO doubt, during tumultuous times when companies are put through the acid test of resilience is when the boys are separated from the men. As the number of strapped companies rise and profits decline with cutbacks in dividend, other companies that had not quite hogged investors’ attention previously began to surface in terms of their appeal.
Take for example, the country’s largest shipyard company Boustead Heavy Industries Corp Bhd (BHIC). A year since its debut on the stock exchange and completion of a massive revamp, BHIC appears to have proven its sceptics wrong.
If you recall, BHIC used to be PSC Industries Bhd (PSCI), a company led by Tan Sri Amin Shah Omar Shah prior to 2005. Having entered into a privatisation agreement in 1995, the government awarded the contract to design, construct and deliver six offshore patrol vessels together with integrated logistics support and commercial package programme for the Royal Malaysian Navy (RMN), valued at RM5.4bil to PSC-Naval Dockyard (now known as Boustead Naval Shipyard) in 1998.
Unfortunately, PSCI failed to deliver even after the government injected over RM2bil into the company.
The group ran into heavy losses and was placed as an affected listed issuer under PN17 by Bursa Malaysia.
The start of a new chapter
Following an unsuccessful attempt to unseat Amin Shah, Boustead Holdings Bhd had to acquire a controlling stake in the company, thereby inheriting enormous unrecoverable losses that had to be written off.
Boustead Holdings was able to exert management influence in 2005 and implemented a capital restructuring scheme.
Led by Vice-admiral (rtd) Datuk Seri Ahmad Ramli Mohd Nor

blackcat98

文接69#

“We estimate that the cost of these 21 patrol vessels could amount to more than RM18bil.”

For the moment, BHIC has been contracted to deliver four patrol vessels. It has already delivered two, and is expected to deliver the third in the first quarter of 2009. The fourth is scheduled to be delivered by 2010.

The group is hopeful of securing the other patrol vessel contracts, although Ramli says he is not expecting any orders from the Royal Navy anytime soon.

“Nevertheless, we still have the first right of refusal or rights granted by the Government for RMN jobs. We also already have a secure recurring income from RMN vessels’ maintenance,” he says.

Certainly, the government continues to give close attention to national security and public safety as reflected in the increase of expenditure

Under Budget 2009, there was a slight increase in the operating expenditure of the defence sector at RM18.23bil compared to the RM17.23bil spent in 2008-2007.

From the RM18.23bil, defence is allocated RM10.65bil while the rest is meant for internal security or police and border security.

Commercial jobs

Ramli adds that even if the RMN does not acquire new ships, it will still need to refurbish and maintain its old vessels.

Presently, the vessels have a lifespan of approximately 30 years.

He says that the marine and oil and gas sector in general will see replacement of vessels, venture into new fields and reactivation of marginal fields.

“We have good maintenance capabilities, which I don’t think all shipyards have. We don’t just want to depend on construction of ships, but we also want to concentrate on the maintenance part.

“Not every shipyard has a drydock, and we have good drydock capabilities in our Langkawi shipyard. We can also built yachts up to 100m in length,” he says

While Ramli admits that the world is now suffering the effects of a credit squeeze, he is still positive on the shipping industry due to the amount of activity in the region because of the oil and gas sector.

“We’ve had to turn down a lot of commercial jobs because we didn’t have the space. But we also want to maintain our capacity for bigger jobs to come,” he says.

Backed by in-house infrastructure and engineering capabilities, BHIC is looking to expand its operations in oil and gas sector in a bigger way.

Boustead Penang Shipyard has the capability in fabricating pressure vessels and general works such as flyover steel structure, plant installation and cranes fabrication.

On the international front, Ramli adds that there is also the ruling from the International Maritime Organisation for double-hull ships that will come into force in 2010.

“This is creating demand for new double-hull tankers. Ships which were previously single hulled will also need to be converted to double hull tankers,” he says.

While BHIC’s shipyards in Malaysia are about 70% utilised, its Ghana shipyard is yet to be fully exploited at a mere 25% utilisation rate.

Ramli sees a huge amount of potential for this shipyard, particularly since oil discoveries were made just some 100 miles away. The Ghana shipyard is also the only major yard in West Africa.

“At the moment it is already profitable, but it is also only doing maintenance and repairs works. We presently have two drydocks there. We first need to upgrade the facility before we can start doing construction and fabrication works in this yard,” he says.

Over the week, BHIC has proposed entering into a joint venture in Malaysia with Turkey’s Yonca-Onuk Savunma Sanyii AS to build vessels for the government and private customers.

Ramli says the joint venture aims to be ready for production of the vessels in Malaysia next year and will promote the transfer of technology and usage of Malaysian content.

A third shareholder, ML Orient Sdn Bhd, will be nominated by Yonca within 60 days. BHDT, Yonca and ML will hold 51%, 30% and 19% respectively of the joint venture company.

Analysts’ take

In its result update note in August, ECM Libra Investment Research maintained its buy call on BHIC with a target price of RM6.30, following the announcement of its second quarter ended June 30, 2008.

ECM Libra Research said BHIC’s results came in slightly above its expectations and slightly below the market’s, while the company’s first half ended June 30, 2008 earnings already accounted for 52% of the research house’s full year estimate.

AmResearch has a profit forecast of RM139.1mil on the back of RM568.5mil in revenue.

The research house says that going forward, the announcement of the much-talked about 21 patrol vessels from the Ministry of Defence is still pending.

“This could be a major catalyst for the company,” said the research house.

It also says that rising direct costs and operating expenses are the main challenges the group faced, particularly due to the rise in raw material and fuel prices.

Nonetheless, BHIC is expected to sustain growth given new activities in the maritime and oil and gas sectors.

[ 本帖最后由 blackcat98 于 20-9-2008 10:08 AM 编辑 ]

傻人最有傻福

傻人最有傻福

Financial Results

Reference No CAS-081105-7C05C

Company Name	:	BOUSTEAD HEAVY INDUSTRIES CORPORATION BHD
Stock Name	:	BHIC
Date Announced	:	11/11/2008

Financial Year End	:	31/12/2008
Quarter	:	3
Quarterly report for the financial period ended	:	30/09/2008
The figures	:	have not been audited

Converted attachment :

Please attach the full Quarterly Report here:

BHIC Q3-Y2008 Bursa.xls

傻人最有傻福

Remark:

SUMMARY OF KEY FINANCIAL INFORMATION

30/09/2008

		INDIVIDUAL PERIOD	CUMULATIVE PERIOD
	CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		30/09/2008	30/09/2007	30/09/2008	30/09/2007
		RM'000	RM'000	RM'000	RM'000
1	Revenue	114,536	29,215	326,916	71,453
2	Profit/(loss) before tax	38,527	436,026	108,600	438,203
3	Profit/(loss) for the period	35,504	436,234	102,349	437,753
4	Profit/(loss) attributable to ordinary equity holders of the parent	34,560	436,031	100,148	437,216
5	Basic earnings/(loss) per share (sen)	13.91	233.82	40.31	234.46
6	Proposed/Declared dividend per share (sen)	0.00	0.00	0.00	0.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent (RM)	1.2300		0.8400

Note: For full text of the above announcement, please access Bursa Malaysia website at www.bursamalaysia.com

ThermoFisher

寶實得重工業
收入漲2.9倍

（吉隆坡11日訊）截至9月30日第3季，寶實得重工業（BHIC，8133，主板工業）營業額按年大漲2.9倍，從2921萬5000令吉，激增至1億1454萬令吉，稅前盈利則勁揚近3倍，報3850萬令吉。

總結首9個月財報表現，寶實得重工業營業額勁揚逾4倍，報3億2690萬令吉，稅前盈利漲1.4倍，從去年同期4540萬令吉揚至1億860萬令吉。

該公司執行副主席拿督斯里阿末南利說：“所有造船工程的進展順利，加上公司在海內外業務發展方針明確，使業務穩健成長。”

寶實得重工業首9個月的每股收益，從去年同期的23.81仙增加至40.31仙。

chookf

原帖由 ThermoFisher 于 12-11-2008 10:24 AM 发表

（吉隆坡11日訊）截至9月30日第3季，寶實得重工業（BHIC，8133，主板工業）營業額按年大漲2.9倍，從2921萬5000令吉，激增至1億1454萬令吉，稅前盈利則勁揚近3倍，報3850萬令吉。

總結首9個月財報表現，寶實得重工業營業額勁揚逾4倍，報3億2690萬令吉，稅前盈利漲1.4倍，從去年同期4540萬令吉揚至1億860萬令吉。

該公司執行副主席拿督斯里阿末南利說：“所有造船工程的進展順利，加上公司在海內外業務發展方針明確，使業務穩健成長。”

寶實得重工業首9個月的每股收益，從去年同期的23.81仙增加至40.31仙。
...

現在全球造船業環境惡劣非常，不少船運商寧願虧了訂金，也要終止訂購的船！
航運業信用狀沒有了信用，因為銀行不敢給信用！也不敢借錢給船運商訂購船．．．

BHIC最新財務報告我還沒DOWNLOAD，不過全球大環境額如此差，
它會好？？？

財務數字．．．實在令人懷疑．．．

ThermoFisher

Choo兄，只要是对BHIC的历史略知一二人，大都不会去碰这家公司，地雷股一支。。。

chookf

剛看了BHIC的帳目，先假定公司沒有帳目舞弊的話，我的看法是：
賬面盈利解不了渴！

blackcat98

SUMMARY OF KEY FINANCIAL INFORMATION

31/12/2008

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31/12/2008	31/12/2007	31/12/2008	31/12/2007
		RM'000	RM'000	RM'000	RM'000
1	Revenue	169,343	45,700	496,259	117,153
2	Profit/(loss) before tax	26,099	36,687	134,699	474,890
3	Profit/(loss) for the period	14,582	48,564	116,931	486,317
4	Profit/(loss) attributable to ordinary equity holders of the parent	14,961	48,253	115,109	485,469
5	Basic earnings/(loss) per share (sen)	6.02	32.22	46.33	324.19
6	Proposed/Declared dividend per share (sen)	5.50	1.50	5.50	1.50
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent (RM)	1.2900		0.8400

qqtanlin

为什么最新的业绩会下降呢？

blackcat98

去年3Q的財報PART B (B15)有提到

There is an exceptional item of RM392.8 million which is mainly due to waiver of interest and principal outstanding from financial institutions arising from our corporate restructuring.

所以要將這四億額外收益從去年報表盈利抽出,你可以看到其實業績是沒下降的

[ 本帖最后由 blackcat98 于 17-2-2009 09:52 PM 编辑 ]