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SembCorp Marine - New Contract In The Bag
02 Jul 09

Call warrant SembMar MBLeCW091002 (HW9W) exercise price $2.40.*

Call warrant SembMar MBLeCW091103 (H7UW) exercise price $3.40.*

SembCorp Marine announced that it has secured a contract worth US$237.3 million…

Bagging yet another contract
Early this morning, SembCorp Marine announced on the SGX that it has secured a second rig order from SeaDragon Offshore Ltd worth US$237.3 million.

SembCorp Marine’s subsidiary, Jurong Shipyard, will construct, outfit, furnish, equip, test and complete a bare-deck hull into an ultra-deepwater semi-submersible drilling rig, scheduled for delivery be end June 2011.


Lagging the STI over the past week
Since flirting with its year-to-date high of $3.06 in early June, the stock has back pedalled 10.1% to close at $2.75 yesterday. The stock has lagged the 3.2% gain in the STI over the past week, climbing just 1.5% over the past week.


Macquarie SembCorp Marine Warrants
Investors seeking a geared exposure to SembCorp Marine may consider the following call warrants for a short term bullish view:

SembMar MBLeCW091002 (HW9W) exercise price $2.40.*
SembMar MBLeCW091103 (H7UW) exercise price $3.40.*

 

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