Monday, September 9, 2013

Shipbuilder Shin Yang sees brighter prospects

Shipbuilder Shin Yang sees brighter prospects

BY JACK WONG
STARBIZ@THESTAR.COM.MY

KUCHING: Shin Yang Shipping Corp Bhd (Syscorp) sees brighter prospects ahead for its shipbuilding and ship-repair operations.

Group financial controller Richard Ling said that the group’s ongoing shipbuilding contracts were worth RM762mil, with most of them secured this year.

On Thursday, Dayang Enterprise Holdings Bhd said its wholly-owned unit, DESB Marine Services Sdn Bhd, had entered into a shipbuilding contract with Shin Yang Shipyard Sdn Bhd (100% owned by Syscorp) for the construction of an offshore accommodation workboat for RM70mil.

Syscorp group is currently building about 25 vessels, including offshore supply boats, landing craft, tugs and barges.

“The order-book for new-build vessels can keep us busy for the next two years. The group is constantly looking for new business and bidding for new contracts,” Ling told StarBiz.

Syscorp group, which delivered a seismic vessel for the oil and gas industry and a landing craft in the April-June quarter, owns three shipyards in Miri and a fourth in Bintulu.

Ling said the group’s shipbuilding capacity had increased after major upgrading works at its shipyards. They now focus on building bigger vessels.

He said Syscorp’s ship-repair business grew about 15% from a year ago as more ships were docked for maintenance and repair works.

For the financial year ended June 30, he said the group repaired 390 vessels, including 144 delivered in the fourth quarter.

The shipbuilding and ship-repair segment’s revenue in FY13 surged 70% to RM304.4mil from RM177.8mil a year earlier. The segment’s operational profit improved to RM7.6mil from RM6.9mil.

On Syscorp’s shipping operations, the main contributor to group revenue, Ling said containerised cargo volume had risen more than 20% in the past 12 months, contributed mainly by outbound cargo from Sabah and Sarawak to Peninsular Malaysia.

“There is a significant increase in the volume shipment of fertlisers from Sabah to the peninsula. This has filled up empty containers on the return trip.

“The economies of scale achieved in the shipment of more containerised cargo has resulted in the improvement of profit margin in domestic shipping although freight rates have remained stagnant,” Ling said.

In FY13, group revenue from the shipping segment rose to RM601.5mil from RM537.7mil in FY12.


Source/Extract/Excerpts/来源/转贴/摘录: HESTAR.COM.MY
Publish date: 09/09/13

No comments:

Post a Comment

Warren E. Buffett(沃伦•巴菲特)
Be fearful when others are greedy, and be greedy when others are fearful
别人贪婪时我恐惧, 别人恐惧时我贪婪
投资只需学好两门课: 一,是如何给企业估值,二,是如何看待股市波动
吉姆·罗杰斯(Jim Rogers)
“错过时机”胜于“搞错对象”:不会全军覆没!”
做自己熟悉的事,等到发现大好机会才投钱下去

乔治·索罗斯(George Soros)

“犯错误并没有什么好羞耻的,只有知错不改才是耻辱。”

如果操作过量,即使对市场判断正确,仍会一败涂地。

李驰(中国巴菲特)
高估期间, 卖对, 不卖也对, 买是错的。
低估期间, 买对, 不买也是对, 卖是错的。

Tan Teng Boo


There’s no such thing as defensive stocks.Every stock can be defensive depending on what price you pay for it and what value you get,
冷眼(冯时能)投资概念
“买股票就是买公司的股份,买股份就是与陌生人合股做生意”。
合股做生意,则公司股份的业绩高于一切,而股票的价值决定于盈利。
价值是本,价格是末,故公司比股市重要百倍。
曹仁超-香港股神/港股明灯
1.有智慧,不如趁势
2.止损不止盈
成功者所以成功,是因为不怕失败!失败者所以失败,是失败后不再尝试!
曾淵滄-散户明灯
每逢灾难就是机会,而是在灾难发生时贱价买股票,然后放在一边,耐性地等灾难结束
  • Selected Indexes 52 week range

  • Margin of Safety

    Investment Clock

    World's First Interactive Investment Clock