It worth more than 50 sen. Ini company dah melabur dalam sektor o&g melalui mitra angkasa, mitra angkasa pun dah beli kapal dari sealink yg berharga 15.8 juta. Tunggu sahaja Q report keluar dan kita lihat pelaburan sealink dalam mitra angkasa berbaloi atau tidak.
Description : PROPOSED INVESTMENT IN NEW SUBSIDIARY
Announcement Details/Table Section :
INTRODUCTION
The Board of Directors of Sealink International Berhad (Company No. 800981-X) ("SEALINK" or "the Company") is pleased to announce that on the 22nd February 2013, Sea Legend Shipping Sdn Bhd (Company No.703278-W) (“Sea Legend”), a wholly owned subsidiary of SEALINK, has entered into a shareholders’ agreement to purchase 50% equity interest in Mitra Angkasa Sdn Bhd (Company No. 974404-T) (“Mitra Angkasa”) (“Proposed Investment”).
DETAILS OF THE PROPOSED INVESTMENT
Mitra Angkasa is a limited company incorporated in Malaysia on 09 January 2012 and the authorized share capital and issued and paid up share capital of Mitra Angkasa is RM100,000. Mitra Angkasa had been awarded a long term contract for the charter of an offshore support vessel for the period from 01 September 2012 to 24 October 2014, with options for renewal for another three years. The total contract value for the charter contract (excluding options for renewal) are approximately RM11 million.
The current shareholder of Mitra Angkasa is Malaysian Engineering and Oilfield Services Sdn Bhd (Company No. 476682-A (“MEOS”).
Mitra Angkasa has also entered into a contract to purchase an offshore supply vessel from SEALINK for a sum of RM15,800,000. This vessel will be used to replace the vessel currently chartered from SEALINK for the contract.
Upon satisfactory completion of the due diligence, Sea Legend shall purchase 50,000 ordinary shares representing 50% equity interest in Mitra Angkasa Sdn Bhd (“Mitra Angkasa”) for a total cash consideration of RM50,000 (“Proposed Initial Investment”).
In addition to the Proposed Initial Investment, Sea Legend and MEOS shall subscribe for 450,001 and 449,999 ordinary shares of RM1 each at par, for a cash consideration of RM450,001 and RM449,999 respectively in Mitra Angkasa. Sea Legend and MEOS are also required to subscribe up to Three Million Five Hundred Thousand (RM3,500,000) redeemable preference shares at par, at an interest rate of 9.1% per annum in Mitra Angkasa in proportion to their respective shareholdings.
RATIONALE FOR THE PROPOSED INVESTMENT
Mitra Angkasa was incorporated to undertake the provision of providing services to the oil and gas industry. The Proposed Investment provides an opportunity for SEALINK to immediately expand its chartering and shipbuilding business.
CONDITIONS FOR THE PROPOSED INVESTMENT
The Proposed Investment is subject to the SEALINK’s satisfactory due diligence review of Mitra Angkasa and the long term contracts secured by Mitra Angkasa.
Upon satisfactory completion of the due diligence, Sea Legend shall purchase and subscribe for the ordinary shares and preference shares respectively in Mitra Angkasa.
EXPECTED TIMEFRAME FOR COMPLETION
Barring unforeseen circumstances, the Proposed Investment shall be completed before the second quarter of 2013.
SOURCE OF FUNDS
SEALINK’s total expected cost of investment of RM2,250,000 shall be funded by internally generated funds.
FINANCIAL EFFECTS
The Proposed Investment secured are expected to contribute positively to the earnings and net assets of SEALINK for the financial year ending 31 December 2013 and beyond. Notwithstanding this, the above are not expected to have any material effects on the share capital and shareholding structure of the Company.
DIRECTORS' AND MAJOR SHAREHOLDERS' INTERESTS
None of the Directors or major shareholders or persons connected to the Directors or major shareholders has any direct or indirect interest in the Proposed Investment.
DIRECTORS' STATEMENT
The Board of Directors of SEALINK, having considered all factors is of the opinion that the Proposed Investment are in the best interest of the Company.
This announcement is dated 22nd February 2013
ABOUT THE COMPANY
SEALINK is an Integrated Service Provider which builds, owns and operates a diverse fleet of offshore marine support vessels, serving mainly the global offshore oil and gas exploration and production industry. Being one of the largest tug and barge operators in Malaysia for the oil and gas industry, it is now strengthening its position to be the major provider for offshore marine support vessels for other niche areas in the industry.
It has a young fleet of offshore marine support vessels predominantly focused on and used in the offshore oil & gas industry. With its diverse fleet of 40 vessels, it can cater to a wide base of reputable clients in the various segments of the industry.
Presently, SEALINK owns two shipyards located in Miri, Sarawak. The two shipyards have the capacity to construct up to 17 vessels a year.
Sealink is a big player in oil and gas industry in Malaysia and the trend for oil and gas is expected to be continually booming regionally in east Malaysia, and it has given sealink the advantage to capture the upraising market. The Oil and gas is expectably be great for the next few year ahead. besides, sealink has the shipbuilding and repair facilities and one of the biggest shipyard in Sarawak. The share price can be great ahead.
The Board of Directors of Sealink International Berhad ("SEALINK" or "the Company") is pleased to announce that SEALINK Group had secured contracts for disposal of three (3) vessels for a total consideration of approximately RM18 million.
DETAILS OF THE CONTRACTS
On 24 October 2013, Midas Choice Sdn Bhd (646673-H) and Sutherfield Resources Sdn Bhd (467227-T), wholly owned subsidiaries of SEALINK, secured contracts for the disposal of two (2) existing vessels to an overseas purchaser for a total cash consideration of USD2.3 million. On 4 November 2013, Euroedge Sdn Bhd (571944-T), a wholly owned subsidiary of SEALINK secured a contract for the disposal of another vessel for a total cash consideration of USD3.5million to the same overseas purchaser. On 22 November 2013, Euroedge Sdn Bhd received the downpayment for the disposal of the vessel.
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
messi
1,915 posts
Posted by messi > 2013-11-07 11:56 | Report Abuse
q at 50sen...please come get it