【Yangzijiang BS6 交流专区】 揚子江造船 YANGZIJIANG SHIPBLDG HLDGS LTD

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Yangzijiang Shipbuilding (Holdings) Limited is pleased to announce that it has recorded all time high earnings of RMB2.3 billion for FY2009, an increase of 45% when compared to earnings for FY2008. The Group’s turnover for FY2009 increased by 44% to RMB10.6 billion as the Group increased productivity and delivered more vessels in FY2009. Gross profit for the Group increased by 64% to RMB2.2 billion for FY2009 as the gross profit margin improved from 18.5% to 21.0% due to higher margin vessels delivered in first half of FY2009. Net profit attributable to equity holders increased by 45% to RMB2.3 billion for FY2009 and basic earnings per share increased from 45.13 to 62.68 RMB cents.

bchian

SINGAPORE - Yangzijiang Shipbuilding (Holdings) Limited announced net income grew 63 per cent to RMB645.09 million (US$94.45 million) in the fourth quarter ended Dec 31, 2009 from the same period the previous year.

Revenue was up 84 per cent to RMB3.44 billion in the quarter as the group delivered more vessels.

The biggest Chinese shipbuilder listed here, the company said on Tuesday, its annual income increased 45 per cent to a record RMB2.3 billion.

Revenue in 2009 grew 44 per cent to RMB10.62 million. A total of 40 vessels were delivered in FY2009 as compared to 27 vessels in FY2008.

On the company's future plans, Mr Ren Yuanlin, Executive Chairman of Yangzijiang said: 'We have researched and believe that going into ship breaking and scrap steel processing will help the Group to diversify revenue streams and thus made investments to set up two companies with minority stakes.'

{The Group has proposed a final cash dividend of 3.5 Singapore cents per ordinary share.}==>这句是什么意思？它要发dividend了？我记得去年它是九月给的窝。

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YANGZIJIANG aims to become among China's top 3 ship-demolition players      
Written by Sim Kih     
Wednesday, 24 February 2010  




Executive chairman Ren Yuanlin foresees that Yangzijiang's PE valuation will improve after it transforms into an integrated player with diversified revenue streams. Photo by Sim Kih
ONE DAY after Cosco announced a net profit plunge of 64% year-on-year, Yangzijiang announced its FY09 net profit was up 45%.

Yangzijiang’s net earnings rose to Rmb 2.3 billion (S$473 million) while Cosco’s contracted to S$110 million.

Investors at its results briefing yesterday were keen to find out what accounted for the starkly different set of results of China's 2 major shipyards.

Yangzijiang has specialized in building vessels for over half a century, explained its executive chairman, Mr Ren Yuanlin.

In contrast, Cosco Singapore is predominantly a repair and conversion yard, with numerous smaller contracts compared to the tens of millions that a single newbuilding job goes for.  Its maiden revenues from shipbuilding started appearing only 3 years ago in 2007.

Another reason: Yangzijiang was successful in preventing order cancellations, thanks to its policy of securing huge deposits of 40% of a newbuilding contract value before work commences.

On the other hand, a slump in shipyard repair work hit Cosco Singapore.

Going forward, Mr Ren said he is commited to steering Yangzijiang to become one of China’s top 3 players in ship demolition within the next 2 to 3 years.

He wants to transform the builder of bulk carriers and container vessels into an integrated marine and offshore player with diversified income streams.

Capex of Rmb 138.6 million in FY09 was for upkeep of existing facilities, said CFO Liu Hua. Photo by Sim Kih
Mr Ren did not hide the fact that he expects shipbuilding margins to slide over the long term.

FY09 net margins of 21.6% reflected orders clinched during the shipbuilding boom in 2007, but margins in a normal market should be closer to 15%, he said.

Elaborating on previously announced plans for his Group to foray into ship demolition, he revealed that Yangzijiang is eyeing 2 ship demolition yards, each with a coastal line of one kilometer.

Other highlights of Yangzijiang’s FY09 results:

(1)         Revenues rose 44% year-on-year to Rmb 10.6 billion (S$2.2 billion)

(2)         A final cash dividend of 3.5 cents per share (tax-exempt) will be paid, amounting to dividend yield of 3.125% based on last close price of S$1.12.

(3)         Order books as at 31 Dec were US$5.6 billion.

(4)         Gross margin expansion of 2.5 percentage points to 21%

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YANGZIJIANG SHIPBLDG HLDGS LTD        REQUEST FOR TRADING HALT        Apr 12 2010        09:40:10 AM

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CLARIFICATION WITH REGARDS TO RECENT NEWS REPORTS IN GENERAL
The Board of Directors (the “Board”) of Yangzijiang Shipbuilding (Holdings) Ltd. (“YZJ” or the “Company”) would like to clarify with regards to the recent news reports in general about the Company considering/planning alternative listing options.
The Board of YZJ wishes to highlight that a number of investment banks and financial advisors have approached the Company with proposals for a dual listing on the Hong Kong Stock Exchange and/or a listing of Taiwan Depository Receipts on the Taiwan Stock Exchange. The Company has only conducted preliminary talks with these parties and no decision has been made on this matter. The Company will make further announcements if there is any development on the subject matter. The Company is continuously exploring a range of business avenues and opportunities in order to enhance shareholders’ value. Discussions with various counterparties from time to time are part and parcel of YZJ’s continuing efforts in this regard.
Accordingly, shareholders and investors should exercise caution when dealing in the shares of the Company and should refrain from taking action in relation to their shares on the basis of or in reliance of any rumours in the market.
By order of the Board
Ren Yuanlin (任元林)
Executive Chairman
12 April 2010

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Attractive return opportunities
Top picks are Sound Global and Yangzijiang. We believe that most of the S-chips
which were not directly associated with the negative publicity during the last crisis
have stronger fundamentals and are less likely to repeat the mistakes which brought
down their peers. Investors eschewing the sector due to ‘snake bite’ effect present
potentially attractive return opportunities for investors. Our top picks for the sector are
Sound Global (previously known as Epure) and Yangzijiang (YZJ), which present
potential upside of 39% and 25% respectively based on our target prices. Key
catalysts for these stocks include more newsflow on dual listings and new order wins.

Yangzijiang, undervalued with strong fundamentals. We also like Yangzijiang,
which has seen increased interest since talk of dual listing re-emerged in early March.
In YZJ’s case, however, we think that the re-rating upwards will come primarily from
improving industry dynamics and management’s strong execution capabilities, as the
benefits from dual listing are likely to be small.
YZJ’s management plans to do a secondary listing in Hong Kong or Taiwan by 2010 to
fund its ship breaking business and potential M&As, with dilution limited to 5%. Our
recent meeting with management suggests that a TDR listing in Taiwan is more likely
as the listing process may be faster. However, as TDRs are non-fungible, there is a
low likelihood for a sustained surge in trading multiples for the SGX-listed shares from
higher TDR valuations. Moreover, the closest peer in Taiwan is trading at a lower
valuation. Alternatively, even if the company chooses to list in HK, there is no valuation
gap with the HK-listed peer. Potential benefits are likely to be limited to slightly lower
cost of funding (if the company is able to price a secondary listing at a premium) and
minimal dilution. Fundamentals for YZJ, however, are robust and valuation is cheap
compared to its closest peer, Cosco Corp. Confirmation of TDR plans is likely to
cause a spike in share price.

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Yangzijiang Shipbuilding (Holdings) Limited announced that it has entered into a joint investment agreement with a Middle East investor ("Investor") and Mediterranean Success Group (“MSG”) (wholly owned by the Group’s Non-Executive Director, Mr Yu Kebing) to acquire PPL Holdings Pte Ltd (“PPLH”) from Baker Technology Limited. The purchase consideration is US$155 million. Post the completion of the acquisition, Yangzijiang, the Investor and MSG would be having shareholding stakes in the proportions of 50.1%, 45% and 4.9% respectively in PPLH. PPLH holds an aggregate direct and indirect 15% stake in PPL Shipyard Pte Ltd ("PPL Shipyard"). The balance 85% is held by Sembcorp Marine Limited. PPL Shipyard is engaged in the business of design and construction of offshore drilling rigs from shallow water to deep water.

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扬子江船厂拟1.55亿美元收购新加坡钻井制造商
2010-04-19 09:53:28　来源: 网易财经　跟贴 0 条 手机看股票

网易财经4月19日讯 扬子江船厂控股有限公司17日称，公司与其他两个实体拟出价1.55亿美元收购新加坡的PPL Holdings Pte. Ltd.，后者是Baker Technology Ltd.旗下全资子公司。

扬子江船厂在一份公告中称，公司提出寻求收购PPL Holdings 50.1%的股权，剩余的45%和4.9%的股权则将分别由一家未具名的中东投资公司及扬子江船厂非执行董事Yu Kebing持有。



为给提议的收购融资，扬子江船厂将以每股1.295新元的价格向上述中东投资公司发行8,360万股新股，以筹资7,770亿美元。

PPL Holdings持有海上钻井制造商PPL Shipyard Pte. Ltd. 15%的直接及非直接股权，剩余的85%的股权由胜科海事集团(SembCorp Marine Ltd., S51.SG)持有。

扬子江船厂称，完成收购后对于PPL Shipyard海上钻井设计及生产业务的参与将增强扬子江船厂在该方面的能力，同时还能够推进集团的发展及竞争力战略。

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修船业务忙人才薪酬涨 主管每年10万起薪

日期：2010-03-26 作者：程度 来源：新闻牛网


焊工月薪万元以上 主管每年10万起薪

　　尽管修船厂已经把邢师傅的工资增加到5000元/月，但接近40岁的他还是准备去新加坡，他向记者解释说：“2000新元（约合1万元人民币）呀！要知道，修船需要爬上爬下，焊工也有一定的年龄限制，趁着年轻一定要多挣些。”

　　邢师傅的遭遇不是偶然。金融危机以后，全球造船业进入低迷期，修船业务却在短暂下降后迅速回升，许多船厂转投修船业，开始建造修船船坞。在此状况下，经验丰富的修船人才受到全球船厂的追捧，薪酬迅速上升。

　　修船人才招聘忙

　　中远船务工程集团的钱先生告诉记者，最近公司一直招聘修船技术主管、船舶维修工段长等多个与修船业务相关的职位，招聘的工种也涉及铁工、钳工、焊工、机床工、电工等。“我们的人员需求量很大，只要合适，我们都会收。”上海海运（集团）公司荻港修船厂的丁先生也表示：“2008年招聘的时候，光一个电焊工就需要200人，但一直都没招满员。现在业务量上升得很厉害，需要补充更多的人。”记者看到，在这次招聘的职位中，除了管系工、装配工、火工的招聘人数注明“若干”外，其他像起重工、数控切割工、钳工、电工、预处理操作工等职位的招聘量最少5人，最多达到50人。

　　大瀚人才资源咨询有限公司制造事业部的于斐分析说，由于手持订单量不断下降，亚洲船厂都在考虑从市场中寻找新的方向，大家几乎都想到了修船。比如，江苏扬子江船厂和泰州口岸船舶有限公司正在开始建造的修船船坞，日本的今治与常石造船也正在考虑发展修船能力。这个不约而同的业务转型使得企业对修船人才的需求上涨迅速。

　　近日，香港友联船厂正通过报纸招聘修船工人，工种及岗位机乎涉及修船整体系统需要，据悉人数至少需求300至400人，是近年来香港修船业十分罕见的大规模招聘行动。招商局行政人事部行政高管期望有更多有志于修船的年轻人入行，甚至大声疾呼：“愈多愈好”，以形容该公司招聘的渴求。而为了应对造修船业务和其他项目对员工的需求，新加坡各主要船厂也大肆招聘，提高薪酬之外还不惜游说政府降低熟练工程师和工人在新加坡获得永久签证和移民身份的门槛，吸引更多人才。

　　人才供应显紧张

　　尽管拒绝透露招聘的效果如何，但钱先生告诉记者，国内修船方面的专业人才本来就不多，“只有一锅汤，你要舀一勺，我也要舀一勺，总归有些紧张。”丁先生则表示他们一线工人一直都没有满员，而主管级、经理级的相关人员流动率比较大，所以他们很多职位的招聘是长年的，“随时应聘，随时欢迎。”

　　于斐分析说，修船人才数量不足的原因主要是选择修船业务的学生太少。一般而言，船舶专业毕业的学生首选是造船企业，一方面那里待遇更好，另一方面学生在一线的时间相对短，快则一年、慢则几年就会成为主管，可以脱离一线。而在修船企业中，尽管主管的职位很快就会得到，但主管也必须在一线工作，整个与修船相关的职位都很难完全脱离一线。邢师傅就表示，修船现场是非常乱的，电线、电焊、设备等到处都是，而且经常要爬上爬下，具有一定的危险性。

　　另外一方面，国内之前对修船业务的忽视也是相关人才难以冒头的原因。要知道，修船业既是工业又是服务业，修船主管须具备较高的素质，既要懂得修船业务，又要掌握经营知识和外语。然而，在此之前，很多船企都把资源投在造船领域，修船仅仅是辅助业务，这就造成修船方面的人才素质参差不齐，无法承担如今大小船厂的业务转向，不得不求助于外部。

　　涨薪潮席卷修船人

　　人力资源短缺的直接后果是导致员工工资的飞涨。总部设在上海的船厂的某高管说：“我们去年给一个电焊工的日工资是50元，而如今，我们要给120元。”他还指出，去年该厂给包工队工头的月工资平均是5000元左右，而如今则上涨到10000元。丁先生也表示最近两年人力成本上升很快，现在技术好的钳工在他们那里已经可以拿到3000—4000元/月，修船技术主管的年薪至少能达到10万。

　　随着劳动力竞争的加剧，新加坡船厂员工的工资也在不断提高。近几年，员工年工资增长率达到了4％，但据其国内专业部门宣称，这种增长率还将进一步扩大。记者看到，香港友联船厂这次招聘的修船工种，包括铁工、钳工、证书焊工、机床工、电工等，全部学历在中三程度，各工种均标明技能要求和工作经验，月薪全部在万元以上，持证书的焊工月薪更在1.2万多元，且是合约长工。

　　钱先生就表示，现在他们的给的薪水随着国际水平不断朝上涨。“很多电焊工月薪已经达到5000元，但新加坡与香港的水平已经上万，我们只好努力给他们提供更多的福利与保障，让这些工人能够安心工作。”中远船务工程集团在上海的船厂近日还从新加坡招聘了约30名工程师。“我们提供住房和新加坡级的薪酬给他们，”一名该公司的高管说。他补充说，从新加坡雇用的工程师都是中国公民，他们在新加坡当地船厂有好几年的经验，并把这份工作当作回国内发展的好机会。

　　于小姐分析说，其实，挖到人才只是一个开始，如何留住人才已成为最受人关注的焦点。随着修船业务受到越来越多船厂的关注，国内和国外的新公司将不断崛起，他们将如饥似渴地寻找富有经验的工人。

　　TIPS：修船业的典型职位

　　修船技术主管：本科或本科以上学历，从事船舶专业工作5年以上，具有船舶系列中级工程师专业技术职务任职资格，熟悉国标、行标中修船技术的有关规定，精通英语，口语熟练，熟悉计算机操作，在两个不同的修船岗位上工作都需满一年以上，具有一定的组织协调能力。

　　修船安全员：有船体工作经验，具有船体安全管理工作经验二年以上，身体健康。船船修造专业(船体专业)或安全管理专业。

　　船舶修理工：35岁以下、船舶类专业、中专以上学历。具有3年以上船舶修理工作经验。

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扬子江船业合资2.13亿　　献购PPL船厂15％股权

(2010-04-19)

　　PPL船厂从事设计及建造浅海及深海钻油台，它目前是世界第二大钻油台厂商胜科海事掌控的子公司。在主板挂牌的胜科海事持有PPL船厂的85％股权，另15％股权现由主板挂牌公司巴克科技的独资子公司PPL控股私人有限公司持有。

　　主板挂牌公司扬子江船业（Yangzijiang）宣布与中东投资者携手，献议以现金1亿5500万美元（2亿1300万新元）的价格，收购我国PPL船厂（PPL Shipyard）的15％股权，希望借以进军岸外钻油台建造领域。

　　PPL船厂从事设计及建造浅海及深海钻油台，它目前是世界第二大钻油台厂商胜科海事（Sembcorp Marine）掌控的子公司。在主板挂牌的胜科海事持有PPL船厂的85％股权，另15％股权现由主板挂牌公司巴克科技（Baker Technology）的独资子公司PPL控股私人有限公司（PPL Holdings）持有。

　　扬子江船业的业务主要在中国，这是它在本地上市以来第一次出手要收购我国海事业者的资产。它于上周六发布献议全面收购PPL控股公司的消息。巴克科技上周六也发布消息，表示收到了扬子江船业的献议书。

　　扬子江船业在文告中透露，它与一个“中东投资者”以及扬子江船业的非执行董事于克秉（Yu Kebing，译音）的公司——地中海成功集团（Mediterranean Success Group），已达致合资协议，将合力出价1亿5500万美元，全面收购PPL控股公司。全面收购交易完成后，扬子江船业、中东投资者以及地中海成功集团将分别持有PPL控股公司的50.1％、45％以及4.9％股权。扬子江船业已就全面收购PPL控股公司，发出具有法律约束力的献议书给巴克科技。

　　为进行此项收购，扬子江船业之前已和该中东投资者签约，将发售8355万5000股新股给中东投资者，每股售价1.295元，所筹得的7765万5000美元资金，将用于进行以上收购计划。

　　这个收购献议要获得接受并且交易完成，条件包括需获巴克科技股东批准以及需取得PPL船厂的主要管理层Benety Chang以及Anthony Sabastian Aurol承诺，继续留在现有的执行职位，直到2013年12月31日。

　　扬子江船业认为，这项战略收购将对它有益，收购后它涉及PPL船厂的业务，将增添及加强扬子江船业在这个领域的能力，推进集团的发展和在能力方面的策略。

　　巴克科技在文告中表示，已在16日收到全面收购PPL控股的献议，有关股权的权益，不包括PPL控股已宣布要派发给巴克科技的469万元股息。接受这个献议的截止日期是2010年5月4日，而交易完成的截止日期是10月27日。巴克科技表示“正在考虑这个献议”并将适时作出进一步的宣布。

　　扬子江船业以及巴克科技的股票，在今天开市时将恢复交易。巴克科技的股票上周五早盘逆市大涨13％，交易异常活跃，并被新交所追查原因，该股早盘结束前便告暂停交易，当时股价已飙至43.5分。巴克科技在上周五午间答复新交所，有公司要购买它的一项投资，但还未签署任何协议。扬子江船业在上周四早上便要求股票暂停交易，因有消息要发布，暂停交易前股价报1.43元。

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巴克科技接受扬子江船业 收购PPL船厂15%股权献议

(2010-04-26)

　　巴克科技（Baker Technology）已经接受扬子江船业（Yangzijiang）就收购PPL船厂（PPL Shipyard）15％股权的献议，但PPL船厂大股东胜科海事（Sembcorp Marine）通过律师要求巴克科技拒绝该献购。

　　扬子江船业（Yangzijiang）表示，已经收到巴克科技的献议接受信，同时表示希望巴克科技与胜科海事能够达成和平解决方案，从而让收购计划顺利进行。在巴克科技获得股东同意后，该交易将尽快完成。

　　扬子江船业上星期五暂停交易。

　　胜科海事要求巴克科技拒绝献购

　　巴克科技在上星期五的文告中表示，收到胜科海事通过律师发出的信件，要求公司不要接受扬子江船业的献购。

　　胜科海事拥有PPL船厂85％的股权。胜科海事指巴克科技把PPL船厂的股权卖给扬子江船业、没有给予胜科海事优先购买PPL船厂的股权，是在规避公司章程中胜科海事享有优先购股权的规定。

　　巴克科技则表示，经征询法律意见，胜科海事的要求是没有依据的。

PaPerSoldier

NOTICE IS HEREBY GIVEN that, subject to the approval of the shareholders of the
Company to the proposed final dividend at the Annual General Meeting to be held on 27
April 2010, the Share Transfer Books and Register of Members of the Company will be
closed on 13 May 2010 for the purpose of determining entitlements of ordinary shareholders
to the final tax exempt (one-tier) dividend of S$0.035 per ordinary share (the “Final Dividend”)
in respect of the financial year ended 31 December 2009.

PaPerSoldier

Yangzijiang Shipbuilding (Holdings) Ltd announced its results for the three months ended 31 March 2010 with group quarterly earnings of RMB586.4 million for 1Q2010, an increase of 21% y-o-y. The Group’s turnover for 1Q2010 increased by 28% to RMB2,675.5 million as the group increased productivity and delivered more vessels in 1Q2010.

PaPerSoldier

Yangzijiang Shipbuilding (Holdings) Ltd announced its results for the three months ended 31 March 2010 with group quarterly earnings of RMB586.4 million for 1Q2010, an increase of 21% y-o-y. The Group’s turnover for 1Q2010 increased by 28% to RMB2,675.5 million as the group increased productivity and delivered more vessels in 1Q2010.

PaPerSoldier

Acquisition of PPLH encountered unexpected resistance. Sembcorp Marine (SMM) has sent a notice to Baker Tech and YZJ, indicating that SMM has first right of refusal to the 15% stake in PPL Shipyard belonging to Baker. Management is waiting for Baker and SMM to reach an amicable solution on that matter and did not rule out looking elsewhere to find a partner to enter the offshore marine market. We are surprised to learn that Baker’s 15% stake comes with 50% board seats and 100% management right and believe that is the main reason behind the resistance from SMM.

老猫与蛇

Yangzijiang... 会升嗎?...

老猫与蛇

Yangzijiang... 冲呀〜

keyinyong

1 September 2010: CIMB target as S$1.64
OUTPERFORM!!!
PM我如果要详情.

daniel888

DJ MARKET TALK: Yangzijiang, Keppel Land May Join STI - Nomura

02/09/2010 08:47 - 0046 GMT [Dow Jones] Yangzijiang (BS6.SG), Keppel Land (K17.SG) may be included in STI in index's semi-annual review, replacing ComfortDelgro (C52.SG), SMRT (S53.SG), says Nomura. Note, STI comprises top 30 stocks by market cap listed on SGX. House tips weighting on index for Yangzijiang at 0.82%, for Keppel Land at 0.80%. Says number of consumer services stocks in STI would fall to 5 from 7 if ComfortDelgro, SMRT exit, reducing weighting for consumer services sector to 13.70% from 15.46%. Notes financial, industrial, consumer services sectors still top 3 out of 7 sectors making up STI. Expects outcome of review around September 9, with changes effective from September 20. Index ends +1.1% at 2982.83 yesterday. (frankie.ho@dowjones.com)

老猫与蛇

賣了...

成本價1.482677, 賣1.68, 7lot... hold了2‐4个多月...