(10-02-2014, 08:20 PM)Ken123456 Wrote: [ -> ]Hi Greenrookie,
Amedeo Resources Plc has hold indirect interest of 18.6% stake in
Jiangsu Yangzijiang Offshore Engineering. To be exact,they have 46.5% JV with YZJ, and the JV has a 40% stake in Jiangsu Yangzijiang Offshore Engineering.
The Semisub will be completed by 2016 and 2017. You can see here of the bottom two.
http://www.infield.com/rigs/manager/prim...d-gas-rigs
I remember reading somewhere that their Explorer I is ahead of schedule, therefore it may be very possible for new entrant like them.
However im curious why there was still no announcement make by YZJ. Either they take time to confirm the contact, can take weeks or this is just rumour. Another things is still why XiangJiaJun reducing his stake.
Ken
Hmm, how can it be a rumour when it's announced by Amedeo Resources over the AIM?
The announcement caused a 45% spike in Amedeo's share price on 4 or 5 Feb.
Because i read the announcement "Amedeo confirms that YZJOE has reached agreement subject to conditions precedent to build two semi-submersible drilling platforms for Primepoint Drilling PTE Ltd. "
So condition has not been met so no annoucement yet.
Maybe im too cautious :p
(10-02-2014, 09:08 PM)Ken123456 Wrote: [ -> ]Because i read the announcement "Amedeo confirms that YZJOE has reached agreement subject to conditions precedent to build two semi-submersible drilling platforms for Primepoint Drilling PTE Ltd. "
So condition has not been met so no annoucement yet.
Maybe im too cautious :p
Made sense. Rational assumption.
After CNY, start work on T&C of the contract liao.....see anything happen on SGX soon or not :x
Shanghai: State run newswire Xinhua has reported that Jiangsu New Yangzi, a yard under Yangzijiang Shipbuilding, has signed a newbuilding contract worth around $2bn with a Singaporean drilling operator on February 7.
Last month the same yard firmed up contracts for two units of Moss CS50 semi-submersible drilling platforms plus two options with Singapore’s Primepoint.
Meanwhile, the builder’s first offshore project, construction of Super 116E jackup drilling platform, has already commenced. Its launching is scheduled in March, 2015, while delivery is planned in August. [11/02/14]
More news about shadow banking assets defaulting and more pressure for Yangzijiang to get rid of its financial assets.
Quite a bit of updates from YZJ website:
http://www.yzjship.com/en_news.asp
of significance is perhaps the 3rd 10000 TEUs ship for seaspan has reached the undocking stage. Not sure what that means.. Does it mean it is ready for naviation, water test?
(14-02-2014, 10:37 PM)freedom Wrote: [ -> ]http://www.businesstimes.com.sg/breaking...r-20140214
Hi Freedom, how did you link the news on the under-stressed China Shadow Banking sector with YZJ?
Did YZJ issue any wealth mgmt trust products?
I would have thought that YZJ's financial assets (held-to-maturity) arose from providing clients credit. These should come from bank loans; hence:
Bank -> Loans to YZJ -> Provide Clients Financing
Wouldn't this model be similar to Court's financing for clients?
How is this linked to wealth mgmt trust products - the main culprit behind the current distressed shadow banking sector.
You are wrong about Yangzijiang's financial assets. Most of them were shadow banking assets. You can check its past financial statements and annual reports.