Practice Makes Perfect
Sapura Crest - Award of Contract, Value US$1.4b!!!!!!
Chin Kok Tan
Publish date: Wed, 02 Nov 2011, 12:18 AM
Chin Kok Tan
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Welcome to CK's Mergers & Acquisitions Theme Park - The BEST Has Yet to Come!
The Board of Directors of SapuraCrest Petroleum Berhad ('SapuraCrest' or "Company") is pleased to announce that TL Offshore Sdn Bhd ('TLO'), a wholly-owned subsidiary of SapuraCrest, has received notification from Petr''leo Brasileiro S.A. ('Petrobras') that TLO has been awarded a contract to charter and operate three (3) units Pipe Laying Support Vessels ('PLSV') at a total award value of approximately USD1.4 billion ('the Award'). One (1) of the PLSVs will be constructed in Brazil, whereas the other two (2) will be constructed outside Brazil.
Revenue from the Award is expected to be generated by the fourth (4th) quarter of 2014. The Award will have no effect on the issued and paid-up share capital of the Company and is expected to contribute positively to the group's net assets and earnings for the financial year ending 31 January 2015 and beyond.
Revenue from the Award is expected to be generated by the fourth (4th) quarter of 2014. The Award will have no effect on the issued and paid-up share capital of the Company and is expected to contribute positively to the group's net assets and earnings for the financial year ending 31 January 2015 and beyond.
CK>> I'm only interested on one thing: Will the merger offer price of SapuraCrest, RM4.60, be further revised upward? SapuraCrest had secured two projects since the merger proposal was tabled on July. This project, value at US$1.4 billion, is not a small project, although the actual contribution may only come after FY 2014/2015.
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