其实是酝酿的越久,冲的越多! 不过还没突破,观察先~

0.6

涨幅为杯子底部投影到杯口的距离,不知牛王如何止赢?
止损容易,止赢难... 我深刻记得牛兄上次中国股大涨的出场时机,那就是最高点啊,可否指点一二

ASL值得继续观察。

上端50，下端46，需要突破50才能继续完成。

如有20mil的量过2.79，吾很想追进。冲的味道很浓厚。

Business Times - 25 Oct 2007


Labroy a potential takeover target?

By VEN SREENIVASAN

IS offshore and marine heavyweight Labroy Marine a potential takeover target? Many industry insiders seem to think so. The stock has risen 6 per cent this week, and despite the volatility in the broader market, has largely managed to hold on to its gains.

All this comes amid vague rumours of an impending takeover. If industry watchers are to be believed, the buyer is a Middle East party which is said to be already well into its due diligence process on the Singapore mainboard-listed company.

Labroy, which is in the offshore supply, service vessels and oil rigs business, has remained silent. But its founder and chairman Tan Boy Tee - who controls 58 per cent of the company - has been widely reported as saying that he remains open to selling his controlling stake at the 'right price'.

And the current speculation on Labroy centres on Dubai Drydocks World, which bought up mainboard listed Pan-United Marine earlier this year before delisting it last month.

Indeed, given record high oil prices and the resulting boom in demand for offshore vessels and rigs, Labroy and other Singapore marine plays make attractive takeover targets.

Even before the Pan-United Marine takeover, offshore supply vessels specialist Jaya Holdings changed hands twice in the last three years, with Affinity Capital buying over KL-listed Sime Darby's controlling interest last year. Meanwhile, there is already market talk of Swissco reportedly looking at a potential privatisation.

But Labroy has attracted more attention of late following its venture into rig-building. Boosted by improved margins at its shipbuilding and offshore engineering division, the company reported a 94 per cent surge in its first-half earnings to $68.6 million recently. Revenues came in at $415.2 million - including some $130 million in rig orders. And it currently sits on orderbooks of some $2.4 billion, with some $842 million secured this year alone.

Some analysts expect this year's orders to surpass $1.4 billion. But it has not all been smooth sailing for the company. Recently, its stock took a hit when its chief operating officer and head of rigbuilding, Ng Khim Kiong, was reported to be leaving for greener pastures. Mr Ng's move was seen by the market as raising the risk of delays in the company's new rig-building venture.

Delivery on track

However, the fears subsided after the company - and more importantly, its rig customer Oslo-listed Standard Drilling - reassured the market that Labroy was on track to deliver its two rigs on schedule late next year and early 2009. The company currently has six rigs on its orderbook.

In a 32-page report on Oct 10, US broker Morgan Stanley initiated coverage of Labroy Marine with an 'overweight' and a price target of $3.40.

'The stock is trading at PEs of 11.4 for 2008 and 10 for 2009 on our estimates, which are attractive in the context of our positive view on global rig demand,' the report noted, adding that it expected the company to secure four jack-up rig orders and S$300 million of shipbuilding orders per year for the next two years.

Morgan Stanley assumed oil prices at above US$65 per barrel. Oil is currently well over US$80 at the moment, and shows little sign of receding. Likewise, Kim Eng recently reiterated its optimism in the upside for Labroy's valuation, citing the potential for significant new orders.

'New orders could arise from the option attached to the recent $567 million order for two heavy-lift jack-up vessels from Norwegian operator Master Marine, slated for delivery by 2010,' it noted recently in its report.

Meanwhile, Labroy is boosting capacity at its yard. The first phase of the expansion will enable it to build nine rigs simultaneously, while its second phase would also enable it to broaden its offering to deepwater semi-submersibles, floating production and offloading vessels.

Indeed, Labroy Marine is sitting smack at the centre of an industry sweet spot as soaring oil price fuels global exploration activity and intensifies the replacement cycle for the world's ageing rig fleet.

For bigger global investors, including cash rich Middle East players, a couple of billion dollars may be peanuts for a well positioned, high growth oil and gas play.

Copyright © 2007 Singapore Press Holdings Ltd. All rights reserved.

牛王推荐的股，非常的好

这个有点吃不准。上次就明显没有发育成功。此次对他要求至少5mil的量。