Cosco Corp crippled by 84% net profit drop

6 Nov 2013 - Singapore Business Review
Despite 6% rise in revenue. According to OCBC Investment Research, COSCO Corporation reported a 6% YoY rise in revenue to S$989.4m but saw an 84% drop in net profit to S$4.2m in 3Q13, such that 9MFY13 net profit accounted for 53% of our full year estimate. Here's more: The results also disappointed ...
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Why analysts think COSCO may have to reverse profits on drillships

6 Nov 2013 - Singapore Business Review
Is there a way out? According to OCBC, COSCO Corp (Singapore) reported a 6% YoY rise in revenue to S$989.4m but saw an 84% drop in net profit to S$4.2m in 3Q13, such that 9MFY13 net profit accounted for 53% of our full-year estimate. The results also disappointed the street, as 9MFY13 net profit only made ...
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Cosco Corporation third-quarter earnings vulnerable to reversal

1 Nov 2013 - Singapore Business Review
Terminated drillship contract may adjust profits. Research firm DBS expects Cosco Corporation to post a recurring net profit of S$16m when it releases its 3Q13 results on November 5, but a possible reversal and provision for drillship contract termination could shave a bit of profit from its bottom line. ...
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COSCO's $170m accomodation unit contract declared effective

18 Oct 2013 - Singapore Business Review
To be delivered in two years. In a release, the Board of Directors of COSCO Corporation (Singapore) Limited announced that the second contract awarded to COSCO (Nantong) Shipyard Co., Ltd, a subsidiary of the Company’s 51% owned subsidiary, COSCO Shipyard Group Co., Ltd, for the conversion of a semi-completed ...
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COSCO secures RMB325m contract for cargo and training ship

18 Oct 2013 - Singapore Business Review
Delivery to Chinese buyer by 3Q2015. In a release, the Board of Directors of COSCO Corporation (Singapore) Limited announced that COSCO (Dalian) Shipyard Co., Ltd, a subsidiary of the Company’s 51% owned subsidiary, COSCO Shipyard Group Co., Ltd, has secured a contract valued over RMB325 million from ...
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COSCO appoints London lawyers as terminated drillship contract continues arbitration

18 Oct 2013 - Singapore Business Review
Several other potential buyers lined up. Back in July 2010 COSCO Corporation's subsidiary, COSCO (Dalian) Shipyard Co., Ltd. (COSCO Dalian) secured a turn-key EPC (Engineering, Procurement and Construction) contract worth more than US$500 from Dalian Deepwater Development to build an advanced and versatile ...
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COSCO clinches $180m jackup drilling contract

18 Oct 2013 - Singapore Business Review
Completion scheduled for 3Q2015. In a release, the Board of Directors of COSCO Corporation (Singapore) Limited announced that COSCO (Dalian) Shipyard Co., Ltd., a subsidiary of the Company’s 51% owned subsidiary, COSCO Shipyard Group Co., Ltd, has secured a contract valued over USD180 million from an ...
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Why COSCO cannot fully celebrate its $400m new win orders

18 Oct 2013 - Singapore Business Review
$500m contract termination casting a long shadow. "We doubt the simultaneous string of order wins announced by Cosco, amounting to US$400m, will mask the negative impact of the termination of a contract worth more than US$500m," said CIMB in its flash note. Cosco’s only drillship order, due to be delivered ...
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Cosco pops the champagne on US$1.2b secured orders

12 Sep 2013 - Singapore Business Review
It has bagged a hefty deal in early June. According to DBS, Cosco should benefit from the higher bulk carrier orders and efforts to build up its offshore order book. DBS said that Cosco has secured orders of US$1.2bn YTD (60% of our FFY13 assumption). Upstream reported in early June that Cosco is signing ...
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The Industrial Sector – Industrial Goods & Services Part II

6 Sep 2013 - The Motley Fool Singapore
As earlier articles of this Sector Connect series, we gave an overview of the industrial sector, talked about the “Construction and Materials” supersector, and started on the “Industrial Goods and Services” supersector. In this article, we will delve into the “Electrical & Electrical Equipment” and ...
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