Date of Result Release for Q1 2011 for K-Reit, K-Green, Kepland, Keppel Corp

Updated date of Result Release for Q1 2011:

Company	Date of Result Release
K-Green	14/04/11
K-Reit	14/04/11
Keppel Land	19/04/11
Keppel Corp	20/04/11

Latest Update at Results Release.

K-REIT PROPOSED ACQUISITION OF FOUR LEVELS OF STRATA OFFICE (LEVEL 26-29) AT PRUDENTIAL TOWER

PROPOSED ACQUISITION OF FOUR LEVELS OF STRATA OFFICE (LEVEL 26-29) AT PRUDENTIAL TOWER:

• Press Release
• Announcement

Key Points

• The Reit has entered into a sale and purchase agreement with the following parties for the acquisition of the following levels in the building located at the Prudential Tower:
• Innisvale Investments Pte Ltd in respect of Level 26;
• Maraha Pte Ltd in respect of Level 27;
• Lima Bintang Holdings Pte Ltd in respect of Level 28; and
• Mirabeau Gardens Pte Ltd in respect of Level 29.
• Vendors will provide rental support of up to S$8.09 million, for the period commencing from the date of completion of the Acquisition until 31 March 2015.
• The Property consists of four (4) strata office floors totalling 48,158 square feet (“sf”) which represents 19.4% of the strata value of the building. K-REIT Asia currently owns 73.4% of the strata value of the building. Post-completion of the Acquisition, K-REIT Asia will own 92.8% of the strata value of the building.
• The aggregate purchase consideration of the Property is S$125,113,940.00.
• The Acquisition will be entirely funded by debt. K-REIT Asia’s aggregate leverage (calculated as gross borrowings divided by total deposited property value) is expected to increase marginally from 37.0% to 39.3% after the completion of the Acquisition.

Related Posts

• K-Reit completes acquisition of 77 King Street 

JAPAN DRILLING COMPANY AWARDS US$210 MILLION JACKUP CONTRACT TO KEPPEL

JAPAN DRILLING COMPANY AWARDS US$210 MILLION JACKUP CONTRACT TO KEPPEL:

• Press Release

Key Points

• Keppel FELS Limited (Keppel FELS) has secured a contract worth about US$210 million from Japan Drilling Company (JDC) to build a KFELS Super B Class jackup rig.
• Slated for delivery in the first quarter of 2013, the rig will be JDC’s first newbuild rig order in six years and Keppel FELS’ first for JDC.
• 12th rig order brings Keppel O&M’s total contracts value to S$4.5 billion in 1Q2011.

About Japan Drilling Company
Japan Drilling Co., Ltd. (JDC) is Japan's sole offshore drilling contractor, and has been providing quality drilling services for more than 40 years. In addition to offshore drilling services, JDC provides Engineering Services and R&D in relation to offshore drilling as well as oil and gas exploration and development, and also Horizontal Directional Drilling (HDD) services. For more information about JDC, please visit www.jdc.co.jp

Related Posts

• KEPPEL SHIPYARD NETS TWO CONTRACTS WORTH S$170 MILLION
• KEPPEL TO BUILD NEW JACKUP WORTH US$195 MILLION FOR MEXICO
• KEPPEL BAGS TWO-RIG CONTRACT FROM TRANSOCEAN WORTH US$380 MILLION
• KEPPEL WINS TWO JACKUPS ORDERS WORTH US$1 BILLION FROM MAERSK
• Keppel FELS Brasil secures two FPSO topside contracts worth R$500 million
• KEPPEL WINS US$440 MILLION TWIN JACKUP RIG CONTRACT FROM ENSCO 

KEPPEL SHIPYARD NETS TWO CONTRACTS WORTH S$170 MILLION

KEPPEL SHIPYARD NETS TWO CONTRACTS WORTH S$170 MILLION:

• Press Release

Key Points

• Keppel Shipyard Limited (Keppel Shipyard), a wholly owned subsidiary of Keppel Offshore & Marine (Keppel O&M), has secured new contracts totalling S$170 million for two fast-track projects.
• The new jobs comprise completing a Pipe Laying Vessel for Saipem S.p.A (Saipem) and converting a Floating, Storage and Offloading (FSO) vessel for Bumi Armada Berhad (Bumi Armada).

Related Posts

• KEPPEL TO BUILD NEW JACKUP WORTH US$195 MILLION FOR MEXICO
• KEPPEL BAGS TWO-RIG CONTRACT FROM TRANSOCEAN WORTH US$380 MILLION
• KEPPEL WINS TWO JACKUPS ORDERS WORTH US$1 BILLION FROM MAERSK
• Keppel FELS Brasil secures two FPSO topside contracts worth R$500 million
• KEPPEL WINS US$440 MILLION TWIN JACKUP RIG CONTRACT FROM ENSCO
•  

Keppel Corp Updated Target Price following Announcement of New Contract:

Keppel Corp Updated Target Price following Announcement of New Contract:

Brokerage	Recommendation	Target Price (S$)	Date of Recommendation
DMG	BUY	13.94	08/03/11
CIMB	OUTPERFORM	15.00	08/03/11

Latest updates at Stock Target Price.

Related Posts

• KEPPEL TO BUILD NEW JACKUP WORTH US$195 MILLION FOR MEXICO

KEPPEL TO BUILD NEW JACKUP WORTH US$195 MILLION FOR MEXICO

KEPPEL TO BUILD NEW JACKUP WORTH US$195 MILLION FOR MEXICO:

• Press Release

Key Points

• Keppel AmFELS LLC, a US wholly-owned subsidiary of Keppel Offshore & Marine Ltd (Keppel O&M), has won a contract from Mexico’s Perforadora Central SA de CV (Perforadora Central) to build a repeat jackup rig valued  at about US$195 million.
• Slated for delivery in 1Q 2013, this latest high specification unit will be based on the LeTourneau Super 116E design. Unlike the existing  LeTourneau Super 116Es, this will be the first Super 116E newbuild to be further enhanced to provide for an additional 1,500 kips of elevated load. 
• It will have leg lengths of 511 ft and the capability to drill wells up to 30,000 ft at a water depth of 375 ft.

Related Posts

• KEPPEL BAGS TWO-RIG CONTRACT FROM TRANSOCEAN WORTH US$380 MILLION
• KEPPEL WINS TWO JACKUPS ORDERS WORTH US$1 BILLION FROM MAERSK
• Keppel FELS Brasil secures two FPSO topside contracts worth R$500 million
• KEPPEL WINS US$440 MILLION TWIN JACKUP RIG CONTRACT FROM ENSCO

Keppel Offshore & Marine acquires 27.8% stake in SGX-listed topside module fabricator Dyna-Mac

Keppel Offshore & Marine acquires 27.8% stake in SGX-listed topside module fabricator Dyna-Mac:

• Press Release

Key Points

• Keppel Offshore & Marine Limited (Keppel O&M), through its wholly-owned subsidiary KS Investments Pte Ltd (KSI), has acquired a 27.77% stake (250,000,000 shares) in topside module fabricator Dyna-Mac Holdings Ltd (Dyna-Mac) via an equity placement.
• This follows Dyna-Mac’s successful listing on the main board of Singapore Exchange Securities Trading Limited (SGX). 
• KSI’s total investment is S$87.5 million based on the invitation price of 35 cents per share. 
• The equity placement, through its investment vehicle KSI, is part of a collaboration between Keppel Shipyard (a wholly-owned subsidiary of Keppel O&M) and Dyna-Mac to jointly pursue the topside module business beyond Singapore’s shores.