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[公司专区] 5205 SENDAI 艾華仙台

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发表于 2012-11-30 09:36 | 显示全部楼层
Lessons from Eversendai in securing projects overseas

SERI KEMBANGAN: Construction companies keen to undertake overseas projects should not only be financially sound but must be also prudent and careful when taking up these projects, says a leading industry player.

Sharing his experiences, Eversendai Corp Bhd’s group managing director, Datuk A.K. Nathan, said doing overseas jobs came with their own set of challenges.“If one can take extra care, have a hands-on approach from top level and have reliable and trustworthy people to manage, yes, one can be successful in the international market,” he told Bernama on the sidelines of the International Constructional Steel Conference 2012 here.

Nathan earlier presented a talk on the challenges in managing overseas projects, the role of structural steel in the Industrialised Building System and his group’s success in some of the iconic projects locally and overseas. He said companies venturing overseas should also not depend on a single client or country and that they should spread out.

Otherwise it would be risky, especially when there is a crisis.

He cited that Eversendai started its overseas venture in Singapore without assistance from the Government and worked up its presence to six countries currently.

Nathan also called on local players wishing to go overseas to understand the local norms of doing business in the respective countries they want to venture into.

“One must understand the culture, the people, the mentality and how people go about doing work, contracts, contractual terms and also the management of the workforce and the local costs.”

Costing is very critical, he said, adding that if it is not done right, companies could end up losing money. – Bernama ... 20&sec=business

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发表于 2012-12-1 13:01 | 显示全部楼层
財經30/11/2012 21:03

 (吉隆坡30日訊)依華仙台(Eversendai,5205,主要板建築)以2469萬新元(約6206萬2504令吉)收購新加坡上市公司特藝石油能源(Technics Oil & Gas)11.19%股權。




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发表于 2012-12-2 21:50 | 显示全部楼层
依华建台6206 万 购狮城特艺石油11%
财经新闻 财经  2012-12-01 11:56

(吉隆坡30日讯)为了进一步巩固新加坡业务基础,依华建台(Sendai,5205,主板基建股)近期投资2469万9552.05新元(约6206万2504.65令吉)收购新加坡特艺石油能源(Technics Oil&Gas)11.19%股权。



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发表于 2012-12-4 09:03 | 显示全部楼层
Eversendai to gradually increase stake in Technics

KUALA LUMPUR: Eversendai Corp Bhd plans to progressively up its stake in Singapore’s Technics Oil & Gas Ltd if the price of the latter remains within its expectations, said executive chairman and group managing director Datuk AK Nathan.

This was after the company, a leading integrated structural steel turnkey and power plant contractors, had on Friday acquired a 11.19% stake in Technics, a company listed on the Singapore Stock Exchange, for S$24.69mil (RM62.06mil) cash involving the transaction of 23.93 million shares financed by internally generated fund.

According to Nathan, depending on the price movement of Technics counter, Eversendai plans to increase its stake in the company.

“At the moment, our stake is not that substantial to seek a board seat, but we are planning to slowly acquire Technics shares in the open market.

“We will make use of the proceeds from our initial public offering to finance this investment as we need to complement its track record in the O&G sector as well as add value to our business. Most importantly, we want to venture in a sector that is currently booming with bright prospects

“It is also in line with our target to reach RM2bil of sales in 2017,” he told StarBiz yesterday.

Nathan, however, declined to comment further on the ideal amount of stake Eversendai was planning to acquire as well as the timeline.

Technics, which was established in 1990 and listed in 2003, has grown to become a leading full service integrator of compression systems and process modules for blue-chip oil and gas customers.

It specialises in the design and fabrication of complex and highly customised process modules and equipment, including gas compression packages, which are integrated to form the operating system for production operations and storage applications in both onshore and offshore oil and gas exploration and production activities.

Nathan said the acquisition was a step towards a bigger plan for Eversendai that entailed buying different entities which would be able to add value and enhance the financial performance of the group.

“However, this move will not distract the company from its core business but on the contrary the acquisition of a stake in Technics serves as an excellent opportunity for Eversendai to enhance its shareholders’ value by expanding into the oil and gas sector,” he said.

Technics closed unchanged at S$1.05 while Eversendai was down a sen to RM1.34 yesterday. ... 58&sec=business

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发表于 2012-12-4 11:05 | 显示全部楼层

熱股評析 2012-12-03 19:06














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发表于 2012-12-4 17:23 | 显示全部楼层
依华建台 购Technics 拓展业务
行家论股  2012-12-04 13:02












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发表于 2012-12-14 17:05 | 显示全部楼层
Eversendai enroute to be RM2b turnover firm
Published: 2012/12/14

Eversendai Corporation Bhd, one of the country's leading integrated steel contractor and fabricator, is looking at turning into a RM2 billion turnover company by 2017.

Its Executive Chairman and Group Managing Director Datuk AK Nathan said with several projects in the pipeline as well as those in the bidding process, the company will be able to achieve its target in the next five years.

"We are moving in line with what we have already planned and we will achieve that. I would not be surprised if we achieve it earlier. Our target is 2017," he told Bernama in an interview recently.

Eversendai, which was listed on Bursa Malaysia last year, recorded a turnover of RM746.914 million in the nine months ended Sept 30, 2012.

Nathan said last year, the company hit RM1 billion in revenue and it is looking at surpassing that figure this year.

"With all these orderbook in hand and new jobs in the process of being concluded, we foresee a very exciting this year and next year," he said.

The group, which currently has an orderbook worth RM1.5 billion and in the midst of bidding for some RM12 billion worth of jobs locally and around the world, is already present in six countries to date.

The current orderbook can last the company for three years, he said.

Nathan, who proudly admitted that he is a product of the Look East policy mooted by former Prime Minister Tun Dr Mahathir Mohamad, does not believe in depending only in a single market to survive.

After already stamping a strong mark in India and the Middle East, he is now entering the Commonwealth of Independent States (CIS) market and is currently eyeing the African continent to spread his wings.

"We already got the job in Azerbaijan but have not sorted out the paperwork yet, so we cannot declare the job yet. There are also few other projects in the pipeline in that region," he said.

On the African continent, Nathan said it offers good prospect as the region comprises countries that are still growing in terms of development.

"Some of these countries have oil find so when there is an oil find, the country becomes richer and have more money to spend for development. With this kind of development, we will have more opportunity," he said.

Turning to the local scene, he said the company is gradually increasing its presence locally by bidding some of the development and infrastructure projects.

"In Malaysia, we are targeting about RM500 million to RM1 billion worth of jobs next year. It will be a combination of few such as infrastructure and high-rise buildings," he said, adding that contribution from local projects to the group's revenue will increase to 15 per cent with these projects in hand.

He said the contribution from local business to revenue will increase to about eight per cent from last year's five per cent while contribution from overseas last year was 95 per cent.

"Eversendai is a very strong company with very strong fundamental values and with such fundamental values, we are already contributing overseas, I think we can very well contribute in Malaysia," he added. Bernama

Read more: Eversendai enroute to be RM2b turnover firm ... _html#ixzz2F109ZH2r

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发表于 2012-12-15 14:16 | 显示全部楼层
2017 年营收上看20 亿 依华建台力争新工程
财经新闻 财经  2012-12-15 12:29






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发表于 2012-12-28 10:24 | 显示全部楼层
Eversendai buys into Technics Oil

PETALING JAYA: Eversendai Corp Bhd has entered into a subscription agreement with Singapore-based Technics Oil and Gas Ltd to subscribe for an aggregate of 10.7 million new shares of the latter amounting to S$11.24mil (RM28.18mil).

The proposed subscription of S$1.05 (RM2.63) per ordinary share represented a premium of about 2% to the weighted average price per ordinary share for trades done for the full market day on Dec 26 on the Singapore Exchange, the company said in a filing with Bursa Malaysia. ... 54&sec=business

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发表于 2013-1-11 14:02 | 显示全部楼层
发售伊斯兰债券 Eversendai筹资5亿






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发表于 2013-1-16 08:35 | 显示全部楼层

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发表于 2013-1-16 09:30 | 显示全部楼层
Eversendai gets RM325mil contract

PETALING JAYA: Eversendai Corp Bhd has received a contract worth RM325mil to carry out structural steel works for the Abu Dhabi International Airport (ADIA) in the United Arab Emirates.

The work on the project is due to start in Feb with completion by 2015, the company said this will have positive impact on the Eversendai’s financial performance from FY2013 to FY2015.

“We are (also) currently the structural steel contractors for the New Doha International Airport in Qatar, the Salalah International Airport in Oman and the KLIA 2 in Malaysia,” said its managing director Datuk AK Nathan in a statement to the press. ... 45&sec=business

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发表于 2013-1-16 12:57 | 显示全部楼层
依华建台获3 . 2 亿合约
财经新闻 财经  2013-01-16 12:29

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发表于 2013-1-17 09:22 | 显示全部楼层
We refer to our earlier announcement dated 7 January 2013.

We wish to announce that RAM Rating Services has assigned the respective preliminary long-term and short-term ratings of AA3 and P1 to Eversendai Corporation Berhad's proposed Sukuk Programme.

Further announcement on the development of the Sukuk Programme will be made in due course.

This announcement is dated 16 January 2013.

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发表于 2013-1-30 09:19 | 显示全部楼层
Eversendai expected to clinch Azerbaijan deal

EVERSENDAI Corp Bhd is expected to secure a structural steel contract worth more than RM300 million for the world's tallest skyscraper, the US$2 billion (RM6.1 billion) Azerbaijan Tower.

The award of the contract to Eversendai will mark a new mile-stone for the company, which is a leading integrated structural steel turnkey and power plant contrac-tor, according to a TA Research analyst.

The 189-storey tower, which is slated to complete construction in 2018/2019, is a development by Avesta Group of Companies.

Eversendai, founded by Datuk A.K. Nathan, has been involved in the world's tallest buildings a few times, first with Malaysia's sparkling jewels the Petronas Twin Towers (452m) and then with Burj Khalifa in Dubai (629m).

Standing at 1,050m, the Azerbaijan Tower will be constructed on a group of artificial islands (Kazar Islands) in the Caspian Sea, southwest of the Azerbaijan's capital city of Baku.

Kazar Islands will serve as a new hub for commercial and residential purposes and act as a new centre for business and commerce. The floating metropolis is estimated to cost US$100 billion to develop.

The Azerbaijan Tower, upon completion, will tower over Dubai's Burj Khalifa by a staggering 220m, and Saudi Arabia's Kingdom Tower by 50m.

If Eversendai is awarded the contract for the Azerbaijan Tower , it will be the second win for the company this year and its current order book will hit the RM2 billion mark.

Early this month, Eversendai won a RM325 million contract to undertake structural steel works at the Abu Dhabi International Airport.

Analysts have upgraded the company as they see further upside to the stock, looking at its earnings visibility and ventures into oil and gas support services, and potential contracts in the Middle East and India.

Kenanga Research has upgraded its recommendation for Eversendai's shares from a "market perform" to an "outperform" with an unchanged target price of RM1.44.

Another research house has retained a "buy" call on Eversendai's shares, with an unchanged target price of RM1.78.

Domestically, Eversendai is expected to secure a few contracts for projects like the Refinery and Petrochemical Integrated Development (Rapid) project by Petronas, Warisan Merdeka tower and several coal-fired plants, that could easily be worth over RM1 billion for the company.

Eversendai, which is 70.52 per cent-owned by Nathan and 8.85 per cent by the Employees Provident Fund, posted pre-tax profit of RM90.8 million on revenue of RM746.9 million for the nine months ended September 30, 2012. ... les/EVER23/Article/

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发表于 2013-1-31 18:21 | 显示全部楼层
依文仙台5537萬增購Technics 20.10%
大馬  2013-01-31 11:03


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发表于 2013-2-1 12:53 | 显示全部楼层
依华建台 增持Technics 推升财测
行家论股  2013-02-01 12:23








分析:MIDF 研究


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发表于 2013-2-1 12:57 | 显示全部楼层

By Kenanga Research

Outperform (Maintained)

Target Price: RM1.51

EVERSENDAI CORP BHD has acquired 21.2 million more shares in Technics Oil & Gas Ltd (Technics), an oil and gas (O&G)-based company listed on the Singapore Stock Exchange for a total purchase consideration of RM62.1mil. This has increased its shareholding in the company to 20.1% or to an associate level now.

Eversendai had previously acquired its first 24.0 million shares (11.2% stake) in Technics in November 2012. As highlighted in our earlier report, we are not surprised by the additional acquisition, as management had always been looking for an opportunity to increase its stake in Technics up to an associate level.

The company's financial year ending Dec 31, 2013 (FY13) earnings estimates have been tweaked higher by 5%, as we have imputed in the potential associate contribution from Technics of RM11mil in FY13.

Technics operates three waterfront yards, which are located in Singapore, Indonesia's Batam and Vietnam. It specialises in the design and fabrication of complex and highly customised process modules and equipment, including gas compression packages, which are integrated to form the operating system for production operations and storage applications in both onshore and offshore O&G exploration and production activities.

Technics' net profit has recorded a four-year compounded annual growth rate (CAGR) of 51.9% from SG$3.8mil (RM9.8mil) to SG$20.2mil (RM52.2mil), underpinned by the buoyant O&G sector and lucrative contracts secured from oil majors like Keppel Fels, Chevron, Petronas, Siemens, PetroChina and Worley Parsons.

To date, Eversendai has spent RM117.3mil to acquire the 45.1 million shares in Technics, which translates into a 20.1% strategic stake in the company. As the investment of RM117.3mil in Technics has exceeded management's previous capital expenditure (capex) budget guidance of RM70mil to RM100mil, we believe that Eversendai has fulfilled its capex spending plans and is expected to take a break from making further investments in the company.

Eversendai's total purchase consideration of RM117.3mil implies a price earnings ratio (PER) of 10.4 times, which is still fair and in line with the small to mid-cap O&G stocks' average trading multiple of around 12 times.

Even with the acquisition, Eversendai's balance sheet remains manageable, with a net gearing of just 0.19 times post-acquisition, as its cash coffers stood at circa RM198mil (as of third quarter 2012). Moving forward, with its bond facility of RM500mil, we believe that Eversendai can comfortably execute projects worth up to RM1.3bil.

Post-acquisition, with the strategic stake of 20.1% in Technics, the associate contribution to the group will rise. Based on consensus numbers, Technics is expected to contribute positively to Eversendai's FY13 earnings at RM11mil or 6.6% at the pre-tax level.

We are maintaining our “outperform” recommendation, as the current share price implies a 27% upside to our revised target price of RM1.51. Our target price is based on an unchanged 8 times PER on its FY13 earnings per share. We have factored in the potential associate contribution from Technics in our FY13 earnings estimate.

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发表于 2013-3-1 14:34 | 显示全部楼层
Eversendai Corp - Poised To Secure Maiden Azerbaijan Job

Fair Value : RM1.80 | Recommendation : BUY (Maintained)

Azerbaijan job “in a few more days”. Eversendai is poised to secure its maiden job in the Commonwealth of Independent States (CIS) (or the former Soviet states), or more precisely in Azerbaijan, “over the next few days”, assuming that “one (outstanding) minor paperwork can be sorted out by this week”. It also expects to secure more work packages from the new Abu Dhabi International Airport project, having already announced the award of structural steel works worth AED390m (RM325m) from the project in Jan 2013. In Malaysia, it is hopeful to conclude a key high-rise tower job (using its heavily promoted “composite structure” building technology) by 1H2013.

Collaboration with Technics Oil & Gas goes live. Eversendai has joined hands with newly acquired Technics Oil & Gas to bid for topside fabrication jobs. Eversendai said that the parties have already submitted two “large projects worth RM500m to RM1bn each in the Middle East”.

Expansion into petrochemical segment via the same M&A route. It is replicating the same M&A model for its expansion into the petrochemical segment (with the key focus being structural steel works for petrochemical plants). It is negotiating to acquire a stake in a privately-owned construction outfit that has had a 30-year track record in the construction of petrochemical plants.

Doubling in five years. Eversendai reiterated its goal to double its turnover to RM2bn in FY12/17 (or earlier), backed by organic growth in existing markets, i.e. the Middle East, Malaysia and India, as well as expansion into new markets such as CIS, as well as new segments such as oil & gas and petrochemical.

Forecast. FY12/13-14 net profit forecasts are raised by 7-8%, having equity accounted for Technics Oil & Gas’ profits.

Risks. These include: (1) New contracts secured in FY12/13-14 coming in below our targets of RM1.2bn per annum; and (2) Escalation in input costs.

Maintain BUY. We like Eversendai as: (1) It is a good proxy to the infrastructure boom in the Middle East, particularly, Qatar that is racing to build iconic buildings as well as basic infrastructure ahead of its hosting of the 2022 FIFA World Cup; (2) It is a good proxy to the Klang Valley MRT project given the strong likelihood of its involvement in structural steel works for stations; and (3) It is a preferred structural steel specialist for international contractors given its strong track record in structural steel works for various iconic buildings in the Middle East. Fair value is raised by 8% to RM1.80 based on 12x revised FY12/13 EPS, in line with our 1-year forward target PER of 8-13x for the construction sector, from RM1.66.

Source: RHB Research - 01 Mar 2013

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发表于 2013-3-5 09:00 | 显示全部楼层
Eversendai bags US$28.5m Azerbaijan job

KUALA LUMPUR: Eversendai Corp Bhd, an integrated structural steel turnkey and power plant contractor, has won a US$28.5 million (RM87.3 million) job for the Crescent City project in Baku, Azerbaijan.

The job was awarded to its subsidiary, Eversendai Engineering LLC in Dubai, by the Crescent City developer Gilan Holding LLC.

It involves the supply, fabrication and installation of structural steel works for a 41-storey office tower, which is part of the project's first phase of development.

"This is a highly complex project but it fits in well with the experience and skill set available within the group," says the executive chairman and group managing director of Eversendai, Datuk AK Nathan.

Nathan said work on the project will start this month and is projected to complete by August next year.

He expects earnings from the new job to be recognised in its current financial year ending December 31 2013, and also next year.

The Main Market-listed Eversendai is 70.52 per cent-owned by Nathan and 8.85 per cent by the Employees Provident Fund.

The group recently reported a revenue and net profit of RM1.02 billion and RM121.7 million, respectively, compared with RM1.03 billion and RM131.6 million last year.

Eversendai had secured a few complex fabrication projects in the last one to two years, which resulted in a slight delay in recognising the potential higher revenue and its corresponding profits.

"The current scale of our order book will provide excellent visibility of future revenue streams across the group. With our solid performance in fiscal year 2012, we are confident of another robust year in 2013," Nathan said.

Eversendai's current order book stands at RM1.6 billion with over 20 major projects.

"Going by our strong past performances and recognised execution capabilities, we are upbeat to achieve a revenue target of RM2 billion within the next five years, via organic growth and acquisitions," Nathan said. ... es/eversen/Article/

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